U.S. Global Investors Reports Financial Results for the Third Quarter of 2016 Fiscal Year
Reuters discusses the cost of federal regulation as analyzed in Wayne Crews's annual Ten Thousand Commandments report.
The company's revenues have been hit hard for the past four years by the prolonged bear market in emerging markets, gold and natural resources, caused by years of slow global growth and the exceptionally strong dollar. Our lean and reflexive cost structure has been challenged since September 2011, when gold peaked at $1,900 with negative real interest rates and expansive global money supply. In addition, regulatory costs like FATCA are an ongoing concern across all industries, money management in particular. The annual cost of federal regulations across all industries amounts to $1.8 trillion, according to the Competitive Enterprise Institute, which calls these regulations a 'hidden tax.' In addition, the average American will spend 10.8 billion hours completing forms this year, up from 7.7 billion hours in 2005, according to the American Action Forum. This kind of indirect taxation impacts trade, money supply and global growth. To weather this persistent storm, we are transforming our operations and product line to be more resilient, competitive and successful," says Holmes.
Read the full article at Reuters.