Thursday, January 19, 2017

Washington D.C. Turned Into "Virtual Fortress" As 250,000 Protesters Descend Upon The City

Washington D.C. has been turned into a "virtual fortress" as 28,000 security personnel and miles of fencing, roadblocks, street barricades and sand-laden dump trucks have been called upon to defend the inauguration from 250,000 protesters looking to cause chaos.

Cleaning crew to Donald Trump...
The ONLY way we will ever be able to get the White House Clean...after the obamas leave...Will be to call in the British and have them do a complete re-enactment of the war of 1812 in D.C... Sorry sir...

US Government Caught Massively Fabricating Student Loan Default Data

Many more students have defaulted on their college loans than the U.S. government previously revealed. This stunning admission came last Friday, when the Education Department released a memo revealing that it had overstated student loan repayment rates at most colleges and trade schools. The explanation? the problem resulted from a "technical programming error."

US Intel Vets Demand Obama Show Proof of Russian Hacking or Admit It Doesn't Exist

A group of intelligence, military, and diplomatic veterans known as Veteran Intelligence Professionals for Sanity, or VIPS, have signed a letter calling on President Barack Obama to release evidence regarding alleged Russian interference in the election. Otherwise, the letter asserts, the outgoing president must admit proof is lacking.

Will The Fed Start Reducing Its Balance Sheet? Here Is Goldman's Answer

"We would be very surprised to see a discussion of asset sales under Chair Yellen’s leadership, but a shift to more active management of the maturity of new Treasury purchases could be an option; shortening the duration of new purchases would quicken portfolio runoff once it begins." - Goldman Sachs

Investors "Stunned" To Learn Hedge Funds Expense Bar Tabs, Private Jets, Trader Bonuses

"It's stunning to me to think you would pay more than 2 percent," said Marc Levine, chairman of the Illinois State Board of Investment, which has reduced its use of hedge funds. "That creates a huge hurdle to have the right alignment of interests."

Jewish Trust Sues Deutsche Bank For $3 Billion

A Jewish charitable trust has sued Deutsche Bank, alleging the German bank wrongly withheld as much as $3 billion from the heirs to a wealthy German family. According to Bloomberg, the lawsuit claims the bank refuses to return the funds initially deposited by the Wertheim family in accounts opened at what is now Credit Suisse Group AG before the rise of the Nazis in Germany.

Why Outsiders Need Insiders To Get Anything Done

You need Insiders who are loyal to an Outsider and an Outsider agenda to accomplish any real reforms. Time will tell.

Mnuchin Hearing Descends Into Early Chaos After Senator Offers "Valium" To Colleague

"Senator Wyden, I’ve got a Valium pill here that you might want to take for a second round."

Did Fake News Help Trump? New Study Shows Ads More Important

“In summary, our data suggest that social media were not the most important source of election news, and even the most widely circulated fake news stories were seen by only a small fraction of Americans..."

Oil Tumbles After Unexpected Crude Inventory Build

A mixed bag of crude draw and gasoline builds from API combined with IEA comments on rising US Shale output offset by Saudi jawboning about more production cuts possible has pushedoil green before today's DOE data. However, oil prices tumbled when DOE printed an unexpected 2.347mm barrel crude build (1mm draw expected) and another major build in gasoline inventories. US crude production remains at 9-month highs.

Empty Shelves & Madness (In America): A Minor Winter Storm Drove People Into "Panic Buying Of Food And Basics"

If this type of panic buying, which can empty the shelves of a major box retailer like Wal-Mart in just a few hours, is so common place even in the event of a minor, predictable weather event, then what will happen when a serious crisis like a severe economic crash or an escalation of global conflict breaks out?

The End Of The Obama World Order

For the past eight years, Barack Obama has been using the power of the U.S. presidency to impose his vision of a progressive world order on the entire globe.  As a result, much of the planet will greatly celebrate once the Obama era officially ends on Friday.

US Economic Expectations Soar To 15 Year Highs... What Now?

Bloomberg's survey of economic expectations has soared since Donald Trump was elected and at 56.0 in January, it is the highest since 2002. This spike in 'hope' is occurring as the current economic situation is seen as deteriorating and, as the chart below suggests, this might be as good as it gets...

Live Stream: Steven Mnuchin Testifies As Democrats Go On The Offensive

In what is sure to be one of the fieriest confirmation hearings to date, Steven Mnuchin, Trump's pick for Treasury Secretary, is set to take questions from the Senate Finance Committee this morning as Democrats will undoubtedly being looking to score theatrical points with the working class folks of the Midwest by peppering the "Foreclosure King" with zingers on his time at Goldman Sachs and OneWest.

McCain's Hypocrisy Has No Bounds

"I am totally sick of fake-patriot, warmonger as*holes like senators John McCain, Tom Cotton, and Lindsey Graham... The US will be better off and the world will be safer the minute they retire."

I'll bet he can squeeze in killing a few more thousand innocent civilians...

Obama's Last Attack: US B-2 Bombers Strike ISIS Camps In Libya, Killing Dozens

With just 24 hours left in Obama's tenure, the U.S. president launched his final airstrike on ISIS after two B-2 bombers carried out airstrikes on two ISIS camps in Libya overnight, defense officials said Thursday, part of an operation targeting militants driven out last year from their coastal stronghold.

Bradley's penis is mounted either on obamas wall or safely know where...

Chelsea Manning Thanks Obama "For Giving Me A Chance"

Overheard At Davos: "So Many People Feel That This Is One Of The Most Dangerous Times"

"There’s never been a better time to be alive, and yet we feel so glum. So many people feel anxious. So many people feel that this is one of the most dangerous times."

Philly Fed Soars As Prices Paid Spike To 5 Year Highs

Philly Fed continued to surge higher post-election with almost all subcomponents rising (apart from a decline in the average workweek). However, while the headline index is at two-year highs, Prices Paid soared to the highest since Feb 2012, and expectations for Prices Received dropped. The stagflationary pressures continue to build, but for now survey respondents seem happy about it...

EUR Plunges After Draghi Highlights "Downside Risks", Downplays Inflation

Just as we warned was likely, Mario Draghi first remarks were dovish, highlighting the potential downside risks in the EU economy and suggest that inflation trends were not convincing.... in other words, the un-taper is on the cards. And  EURUSD reacted instantly...

Housing Starts Beat On Jump In Rental Units, Single-Family Permits Rise To Highest Since 2007

Continuing the trend of strong economic data, housing starts rose more than expected in December, hitting 1.226K in December, driven by a jump in mult-family units. Alternatively, housing permits declined modestly as new multi-family units dipped to the lowest since March, however offset by the highest single-family permits number since the financial crisis.

A Davos Parable

by David Haggith, The Great Recession Blog:
Cirrus clouds wavered overhead like a circus big top billowing in a summer breeze. Sunlight filtered through, making it a warm, hazy afternoon for the kaleidoscopic disarray of people jumbled on the fairgrounds. A large banner that read “The World’s Fair or Bust” rippled above the ground and flapped in the breeze. Small groups of different race and social pedigree gathered on a freshly harvested wheat field. Large piles of threshed grain were mounded nearby.
The different groups of people shifted around each other and crowded together but never mixed. A small-but-important space separated skeletal figures, draped with rags, from plump women in flowing gowns, glazed with glamour, crawling with jewels. Denim men and women talked raucously of evenings, weekends, and retirement. Around them, pairs and trios of plastic-labeled, polyester business people chatted quietly of politics and stocks, while dignitaries in long wool robes and turbans pinned with ruby brooches passed out campaign buttons.
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Rogoff: An Elitist Who Has No Respect for the People

by Martin Armstrong, Armstrong Economics:
Kenneth Rogoff is a Professor of Public Policy and Economics at Harvard University. Rogoff calls critics of negative interest rates “ignorant” despite the fact that negative interest rates have been used since 2008 without any success. He had the audacity to say that people should not look at their short-term personal losses, but rather look at the long-term vision of the central banks. He is such an elitist. I cannot find words appropriate to describe how this academic, who has zero experience in the real world, is incapable of comprehending that his Marxist style intervention is creating the next crisis.
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Fight Big Pharma By Taking Control Of Your Health

by Dave Kranzler, Investment Research Dynamics:
In his latest commentary, James Kunstler observes that, “The public at large is restive, eager to get on with the job of deconstructing the matrix of racketeering that adds up to the immiserating culture we live in, a society where health insurance company presidents make $40 million a year while ordinary people lose their homes because a $5,000-deductible health insurance policy doesn’t cover the cost of treating a routine tonsillectomy” (LINK).
The “restive” public “at large” describes the rebirth of populism. Outside of Wall Street, there’s no bigger racketeering entity than the healthcare industry. Obamacare made it worse. The U.S. BY FAR has the most expensive healthcare in the world and yet, according to the World Health Organization, the U.S. ranks 37th globally in quality of healthcare. Number 1 in cost, number 37 in quality. That “slippage” is caused by racketeering. And make no mistake, Congress is well-paid by the industry to abide by the industry’s rules.
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World’s Worst Tax Haven Threatens to Expand its Operations

by Don Quijones, Wolf Street:
“What they sell is escape: from laws, rules, and taxes of jurisdictions elsewhere, with secrecy as their prime offering.”
The UK chancellor, Philip Hammond, recently suggested that if the EU fails to budge over granting the UK market access after Brexit, Britain could transform its economic model into that of a corporate tax haven. In other words, in the event of a so-called “Hard Brexit”, which is the only option that would offer the UK any hope of self-rule in the foreseeable future, the British government would extend the City of London’s business model to the rest of the UK.
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Incoming Trump Administration is Shaping up to be Very Pro-GMO

Trump holds Monsanto stock, is against GMO labeling
by Julie Fidler, Natural Society:
Donald Trump’s pick of Senator Jeff Sessions for attorney General could help solidify Bayer AG’s $66 billion purchase of Monsanto, which is currently undergoing state and federal antitrust investigations.
Bagreed to acquire Monsanto for the whopping sum in September after months of bickering. The merger would give Bayer 1/4 of the world market for seeds and pesticides, resulting in less industry competition, higher seed prices, and eventually higher food prices. Several U.S. state attorneys have joined a federal antitrust investigation into the merger.
There had been growing skepticism that the deal would actually close, since both companies’ stocks had been trading lower since the acquisition was announced. However, since Trump’s election November 8, Monsanto shares have risen more than 4%.
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Gold, Silver, Stocks and Economics – Stock Option Expiry on Friday

from Jesse’s CafĂ© AmĂ©ricain:
Gold and silver backed off almost perfectly from the overhead resistance on the charts.
The cause for this seemed to be ‘technical’ and was tied to a bounce in the dollar, which also seemed as much technical as anything else.
The equity markets were quiet, and tended to drift higher after the morning lows. Again, largely a technical type of trade.
Does anyone doubt that the markets are ‘holding their breaths’ for the inauguration of the Trump Administration this Friday?
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The Further Decline in International Reserves

by Hugo Salinas Price, Plata:
International Reserves in the world’s central banks have declined from $12.032 Trillion dollars, the peak reached on August 2, 2014, to $10.814 Trillion dollars on January 13 this year, as registered by Bloomberg. This is a decline of about 10.12%.
Over the past 29 months, the decline in Reserves took place at a rate of about $42 billion dollars a month. At this rate, by the end of 2017 International Reserves will likely decline by another $504 billion dollars, to $10.31 Trillion, which will increase the decline from the peak in 2014 to 14.31%.
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