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Clinton & Trump Aides Forum Devolves Into Screaming Match - "I Would Rather Lose Than Win The Way You Did"
"I would rather lose than win the way you guys did," ..... "I can tell you are angry, but wow... Will you ever accept the election results?" And it went down-hill from there...
Why did the unemployment rate tumble from 4.9% to 4.6%? Simple:
the number of Americans who are no longer in the labor force spiked by
446,000 in November, hitting an all time high of 95.1 million.
Italians are angrier now than they’ve been since they hung Il
Duce up by his heels in 1945. Italy has had no productive growth since
1999. Real GDP per person is smaller than it was at the turn of the century.
That’s almost two decades of economic stagnation. By any measure, the
Italian economy is in a deep depression. And things will probably get
much worse. It’s no surprise Italians are in a revolutionary mood...
While the post-Trump euphoria in US stocks has been the perfect distraction
from the ugly realities elsewhere, this weekend's Italian Referendum
could well be the biggest 'revolt' yet, topping Brexit and Trump. Should
Italy vote "no", as polls forecast, PM Renzi may quit, leaving the
Italian bank recapitalization would then be in jeopardy and, as
Bloomberg's Mark Cranfield warns "we could be looking at a Greece-like market reaction on steroids."
From the 316 rig trough in May, American oil drillers have added 161 to 477 - the highest since January 2016. The rising rig count continues to track lagged oil prices higher and US crude production is following that trend to its highest level since June.
Donald Trump today announced that he is establishing the
President’s Strategic and Policy Forum. The Forum will be called upon to
meet with the President "frequently to share their specific experience
and knowledge as the President implements his plan to bring back jobs
and Make America Great Again. The Forum will be chaired by Stephen
Schwarzman, Chairman, CEO, and Co-Founder of Blackstone." Its members
also include Jamie Dimon and Larry Fink.
In September,
headlines of Deutsche Bank trading clients pulling collateral sparked
grave concern over the world's most systemically dangerous bank. Today,
the stock is sliding once again as WSJ reports the bank said it would cease providing some coverage for about 3,400 actively trading clients in its global markets division, according to a memo sent to equities staff.
President Recep Tayyip Erdogan urged Turks on Friday to convert
their foreign currencies into gold and lira to stimulate the country's
economy as the lira continued its slide against the dollar.
According to the BLS' seasonally adjusted "data",
starting in March of 2010 and continuing through October of 2016, there
has been just one month in which restaurant workers lost jobs. Meanwhile, the US manufacturing industry is getting hammered.
Not really surprising anyone, former Saudi Arabia oil inister Ali Al-Naimitold a forum in Washington that it "remains to be seen" if the OPEC deal is successful, noting that the "market is set to rebalance if everyone cuts production" but added "we tend to cheat."
"...new analysis suggests that conditions are now virtually identical to when the Terra Nova and Endurance sailed to the continent in the early 1900s, indicating that declines are part of a natural cycle and not the result of global warming."
"If allowed to proceed, the statewide hand recount could cost
Michigan taxpayers millions of dollars and would put Michigan voters at
risk of being disenfranchised in the electoral college."
According to the BLS, some 178,000 seasonally adjusted jobs
were added in November, arbitrarily goalseeked as they may have been.
Where were they? Here is the answer.
Trump’s picks so far are already garnering a lot of attention,
but his choices for appointments relating to the economy could cause
the biggest stir of all. As Trump and his new appointments rise to power, the Federal Reserve could be targeted for overdue changes and reforms. Let’s take a look at how the Trump administration may change the Fed.
A new warning has emerged when looking at the number of
Multiple jobholders, or people who are forced to hold more than one job
due to insufficient wages or for other reasons: when observed on an
actual basis, the number of multiple jobholders just rose to 8.107 million, a new record high print for the 21st century.
Unraveling the payrolls data details was irrelevant for the
algos, a plunge in the unemployment rate appears to have been the
trigger for an instantaneous fat-finger VIX slam, which managed to spark a brief upward momentum in stocks, but that did not last...
While the headline November payrolls print came in almost on
top of expectations at 178K, vs consensus of 180K there were two big
surprises in today's report, one being the unemployment rate which
plunged from 4.9% to 4.6%, well below the 4.9% expected, but the
biggest negative surprise was that the Average hourly earnings in
November dropped by 0.1%, far below last month's 0.4% rise, and below
the 0.2% expected
The final November fund flow numbers are in, and as BofA's
Michael Hartnett puts it, November was a "watershed month" for fund
flows with the largest 5-week bond outflows in 3.5 years (Chart 1),
largest 3-week precious metals outflows in 3.5 years (Chart 3) and
largest 4-week equity inflows in 2 years.
On the heels of Jeff Gundlach's "there's going to be a buyer's remorse period" warnings
yesterday, the other 'bond king' has raised similar fears that the
Trump rally is overdone (as are the prospects for growth behind it).
Putting aside the book-talking as their bond portfolios suffer, Gross
echoes Gundlach's "Trump's not the wizard of oz" comments, noting that
the next president faces serious structural headwinds and warns investors "should move to cash," as any fiscal stimulus gains will be temporary at best.
In just two short minutes MEP Daniel Hannan destroys the competitive virtue-signalling farce that is the Anti-Trump protestor, "this is the first generation that has been brought up not to tolerate opinions that they dislike...
and they have been taught that the correct response to someone saying
something you find 'hurtful' is to try and silence that person..." This
is not about Trump, this is about a generation "that has never been told 'no' and can't handle disagreement."
"There's no magic here" warned Doubleline's Jeff Gundlach about
the Trump rally, and told Reuters that bond yields and stocks have
peaked, the dollar is going down, and that gold will move up in the
short term. "It is so late to be buying the Trump Trade."
Aleppo is the key to the Syrian ‘civil war.’ Now that pro-Assad forces have won the day it touches off a number of responses around the region. This further breaks down the position of U.S/NATO-backed forces trying to oust Syrian President Bashar al-Assad from power, regardless of what Turkish President Recep Tayyip Erdogan has to say about it. All of this means that the likelihood of some ugly false flag incident rises by the hour.
A German court has ruled that seven Islamists who formed a
vigilante patrol to enforce Sharia law on the streets of Wuppertal did
not break German law and were simply exercising their right to free
speech. The "politically correct" decision, which may be
appealed, effectively authorizes the Sharia Police to continue enforcing
Islamic law in Wuppertal.
After being forced to withdraw $15 billion to fund government
deficits, Norway's sovereign wealth fund has decided to boost it's
equity allocation to 75% from 60% creating about $130 billion worth of
incremental global equity demand
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