Despite the millions of dollars Wall Street plowed into the Clinton campaign in vain, the financial industry has nevertheless now become downright giddy with the prospects of a Donald Trump presidency. The imperative question investors need to determine is will the Trump presidency be able to generate viable growth. And, if he cannot produce robust and sustainable growth imminently, are the markets now priced for perfection that simply may never arrive?
Let’s look at the President Elect’s proposals to find an answer.
A top priority of the Trump presidency will be a reduction in the tax rate for the repatriation of foreign earnings on U.S. companies. According to Credit Suisse, the cumulative earnings parked by S&P 500 companies overseas is over $2 trillion.
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"Wrong Way Gartman"...
It has now been 42 years since The Global Bankers successfully alchemized gold through the advent of futures trading so we begin the new year by looking back at how we got into this position in the first place.
To that end, let’s start 2017 by going back to 1974.
Over the past few years, you’ve often heard me reference the HISTORY and FACT of gold price suppression and manipulation. Whenever it comes up in an interview or presentation, it often goes like this:
Bitcoin prices tumbled sharply this morning.
According to data from CoinDesk’s Bitcoin Price Index, markets averages dropped only days after passing the $1,000 mark on 1st January. This morning’s fall came after prices reached a high of $1,153.02 in early morning trading.
Still, despite coming within reach of all-time highs, prices fell more than 20% across global exchanges before recovering, with markets reaching a low of $887.47, the lowest figure observed on the BPI since 25th December.
Moments ago, Wikileaks tweeted that as a result of a segment airing on CNN, the whiste-blowing organization announced it has “issued instructions to sue CNN for defamation.”
Wikileaks was referring to a segment in which CNN had the ex-Deputy-Director of the CIA “falsely calling Assange a ‘pedophile.’
Phil Mudd on Hannity’s Assange interview: “They skirted the bottom line” https://t.co/hTPJLLexss https://t.co/l5nCy98fBH
— New Day (@NewDay) January 4, 2017
Worse “than the 1994 ‘Bond Massacre,’” with “sustained double-digit losses on bonds, subpar growth in developed markets, and balance sheet risks for banking systems….”
The backdrop: after 36 years of bond bull market, the amount of US bonds has ballooned to $47 trillion, up 24% from just ten years ago:
US Treasurys ($19.8 trillion),
Municipal bonds ($3.8 trillion)
Mortgage related bonds ($8.9 trillion)
Corporate bonds ($8.6 trillion)
Federal Agency bonds ($2 trillion)
Money Markets ($2.6 trillion)
Asset backed Securities ($1.3 trillion)
About 30 days into Obama’s first term I predicted that, “Obama will eventually go down as a worse President than W, which is hard to do because W might be one of the worst Presidents in U.S. history.” I am making the same prediction of Trump: he’ll go down as a worse President than Obama.
I would surmise that a majority of Trump’s voters voted for Trump as a vote against Hillary. Many of them have expressed relief that “Trump is not as bad a Hillary.” But, au contraire. The decision faced by voters was no different than choosing between liver cancer and pancreas cancer.
In November, a very concerning report — Glyphosate: Unsafe On Any Plate — was released by The Detox Project and Food Democracy Now!, raising the alarm of the high levels of glyphosate in the US food supply and the (deliberate?) low levels of awareness of its associated health risks.
Dave Murphy, executive director of Food Democracy Now!, joins us this week to explain the finding of this new report on the world’s most-used herbicide (more commonly known by its retail brand: Roundup). As happened in past decades with the alcohol and tobacco industries, there’s compelling evidence that profits have taken a priority over consumer safety — and as public health concerns are being raised, Big Ag is circling its wagons and attacking the questioners rather than embracing open scrutiny.