The Road to Recovery: Global Epocalypse Inevitable According to Trump’s Chief and World’s Largest Failing Bank

from The Great Recession Blog:
The financial end of the world in economic apocalypse is here. A funny thing happened on the road to recovery: Trump’s chief strategist admitted his view of the Trumpian future looks like the Great Depression. Even the world’s largest bank just said global financial default is the preferable way out and most likely way out of the Great Recession that began in 2007/2008. That’s the new optimism. You don’t get better than all of that for an exhilarating view of the imminent future. As Maya MacGuineas, the leader of the Committee for a Responsible Federal Budget, also assessed the situation,
“President-elect Trump is going to be inheriting the worst fiscal situation of any president… other than President Truman … as judged by the debt relative to the economy.”
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Black-Friday Woes: The Death of the Department Store

by Wolf Richter, Wolf Street:
They no longer shop till they drop.
Black Friday is when you’re supposed to shop till you drop. It kicks off the holiday selling season. No season is more sacred for retailers. They’re expected to do about 40% of their annual sales in those few weeks till Christmas.
The National Retail Federation is bubbling over with enthusiasm, expecting holiday sales to grow 3.6% this year to $656 billion. Since Trump has won the election, consumer optimism about the economy has surged, and this is expected to be one hot holiday selling season.
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Clintons Confirm Participation In Recount Plan, Despite No "Actionable Evidence Of Hacking"

Hillary Campaign General Counsel:  "We had not uncovered any actionable evidence of hacking or outside attempts to alter the voting technology...the number of votes separating Donald Trump and Hillary Clinton in the closest of these states—Michigan—well exceeds the largest margin ever overcome in a recount."

More Lies From The 'Experts': "Get Trump At All Costs"

As flyover America has been suffering economically for many years, these Americans were immune to the oligarchy’s anti-Trump propaganda. However, everyone else in the country was taken in by the propaganda - liberals, progressives, the remnant of the leftwing - and the lies continue...

These Are The 48 Organizations That Now Have Access To Every Brit's Browsing History

While the UK was obsessing with Brexit and its aftermath, parliament quietly passed a contentious snooping law that gives authorities, everyone from police and spies to food regulators, fire officials and tax inspectors, the right to legally look at the internet browsing records of everyone in the country.

Iran Loses Nuclear Device, Sparks GCC Concerns

The Gulf Cooperation Council (GCC) is concerned over a missing radioactive device from Iran’s Bushehr nuclear reactor, Saudi-owned Arab newspaper Asharq al-Awsat reported on Thursday. Furthermore, as OilPrice.com's Tsvetana Paraskova notes, aside from the security concerns, at the forefront in the GCC’s mind is what impact the radioactive device - wherever it may be today - could have on water supplies.

Who Pays What Taxes In The US

Why does every election bring renewed focus on the taxes paid by the rich? Simple: while those American who declare $500,000 and above in income represent less than 1% of total tax returns, they account for a quarter of taxable income and - more importantly - are responsible for 37% of government revenues collected through individual income taxes.

Towards An 'America First' Trump Trade Policy

America responded to Trump’s call for a new nationalism rooted in the economic principles and patriotism of Hamilton and the men of Mount Rushmore: Washington, Lincoln, Jefferson and Theodore Roosevelt. The president-elect has declared the TPP dead, and says he and his negotiators will walk away rather than accept another NAFTA. Again, good, but again, not good enough, not nearly...The New International Economic Order imposed upon us for decades has to be overthrown.

Risk Parity Funds Suffer Worst Month Since 2015 As Breadthless, Fearless Stock Market Soars

The market moves since the US elections have been both big and surprising, and as JPMorgan notes, fund managers have been either too slow or too reluctant to jump into the Trump trade. However, algo-based Risk-Parity funds suffered the most with their biggest loss since Dec 2015 as market 'fear' tumbles to 9 month lows (and stocks are the most overbought in 13 years).

Jill Stein Advocate Slams Recount Decision: "Shameful Support For War Goddess Hillary"

"Does she support what war goddess, racketeer, perjurer Hillary stands for? Does she oppose Trump wanting normalized relations with Russia - crucial to prevent the threat of possible nuclear war with Hillary empowered as US military commander-in-chief... I supported Stein, believed in her, wrote glowing articles about her campaign, her advocacy for world peace, equity and justice. Was I wrong? Did I misjudge her? Is she against what she claims to stand for?"

Trump Slams Green Party Recount "Scam", Accuses Stein Of "Filling Her Coffers With Money"

"This is a scam by the Green Party for an election that has already been conceded, and the results of this election should be respected instead of being challenged and abused, which is exactly what Jill Stein is doing...This recount is just a way for Jill Stein...to fill her coffers with money..."

After Warning US With "Retaliation" Iran Plans Russian Fighter Jet Purchase, Naval Bases In Syria, Yemen

According to Reuters, earlier today Iran's Defense Minister said that the country plans to purchase Russian Sukhoi Su-30 fighter planes to modernise its air force. More troubling to the US, the Iranian minister also threatened that Tehran might again allow Russia to use an Iranian air base for its operations in Syria.

Even Obama Slams Stein's Recounts: The Results "Accurately Reflect The Will Of The American People"

Jill Stein's credibility is sinking fast as even the Obama administration confirms: "We believe our elections were free and fair from a cybersecurity perspective.  We stand behind our election results, which accurately reflect the will of the American people."

"We're Players In Several Giant Games Of Chicken..."

"The half-life of whatever OPEC does or doesn’t do is measured in days... weeks at most... Dollar up is bad. Dollar down is good. I don’t know how to say it more plainly than that, and all the Belief in the world about tax reform and repealing Dodd-Frank and all that doesn’t change this reality... Maybe you see that and maybe you don’t. I can promise you, though, that China sees it."

Weekend Humor - Is Donald Trump Your President?

Simple clarification flowchart for snowflakes, swamp-rats, and sanctuary-dwellers.

Why Is The US Dollar Rising?

So where will mobile capital flow in an environment of rising socio-political risk, a multi-year USD uptrend and a dearth of safe, liquid markets?

Julian Assange Emerges In New Interview; Denies Rumors That "CIA Is Taking Over Wikileaks"

After weeks without a public appearance, which prompted many to speculate that Julian Assange has disappeared, or may even be dead, the curious public demanded evidence that the Wikileaks founder is all right. It got it today when Julian Assange emerged, and gave an audio interview as part of the Free Connected Minds conference.

Trumpism Has Dealt A Mortal Blow To Orthodox Economics And 'Social Science'

Trumpism is a crisis for the most prestigious methods of understanding economic and social life, ennobled and enthroned by the metropolitan academy of the last third of a century. It has caused mainstream ‘social science’ to fall like a house of cards.

The Brutal Protection Of Paedophiles

by David Scott, UK Column:
In two short years, the Docherty family have been torn apart by brutal state interventions in three separate national jurisdictions. Are these people criminals? Accused of a major crime? Terrorists? No they are a loving family who had the courage to report to the authorities an approach from a predatory paedophile.
Their story begins in July 2014 in rural Aberdeenshire, on the Crimonmogate estate located between Peterhead and Fraserburgh. They had moved in to a rented house on the Estate of Viscount Petersham. This was small for their family of four children but ideal as the quiet location suited their elder son who suffered from Autism. Within months of moving in, they were approached by a neighbour with an outlandish proposal. This neighbour offered them £25,000 “ to do with as they would like” for access to their disabled son.
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Pilgrim Currencies: From Wampum to Gold Eagles

by Peter Schiff, Schiff Gold:
The majority of Americans know the basics behind the story of the pilgrims’ 1620 journey on the Mayflower, their eventual landing at Plymouth Harbor, and the physical and mental hardships they faced helping form the first permanent settlement of Europeans in New England.
Native American tribes like the Pokanoket were instrumental in helping the Pilgrims survive harsh winters, showing them how to plant corn, the best places to fish, and where to catch beaver. Thanksgiving is the day we celebrate the harvest feast the Pilgrims shared with the Pokanokets as an expression of thanks and good will.
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A Revolution against the Financial and Political Elite is Brewing around the World

by David Levenstein, Gold and Liberty:
Several months ago, the voters of the United Kingdom chose to escape from the clutches of the European Union.
They called it “Brexit,” and it sent shockwaves throughout the global financial world.
The entire establishment– banks, businesses, media, politicians, celebrities– had been pushing the British people to remain in the European Union. And, so, panic ensued in financial markets when the Brexit results were announced.
It was widely believed that a Trump win in the US would have had a similar result on financial markets. The general consensus heading into Election Day 2016 was that a Trump victory would spell doom for equities and as his odds of winning increased, the Dow nose-dived 800 points and gold rallied by around $50 an ounce.
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Indian Government Seeks To Quell Panic: "No Plan To Restrict Gold Holdings"

"There is no such proposal before the government on restricting domestic gold holding..."

The Power Struggle Unfolding Before Our Eyes

A remarkably diverse array of “explanations” of Donald Trump’s presidential election victory have been aired, representing both the conventional political spectrum and well beyond...

Tempering US Economic Growth Expectations

Much of the recent optimism seems to stem from a the belief that the new administration will be able to dramatically (and immediately) increase economic growth. The problem is that the US and global economy continue to face major structural issues that seem to be beyond the control of any politician. Increasingly, it is feeling like we are in a “buy the rumor, sell the news” kind of market.

World Leaders Respond To Fidel Castro's Death

Reactions to Fidel Castro's death, like his life, were deeply divided. World leaders including Russian president Putin, South Africa’s President Jacob Zuma, India’s Prime Minister Narendra Modi and several Latin American politicians issued statements and tweets highlighting Castro’s achievements and extolling his virtues.

The Trump Effect? Germany Urges Europe for New ‘Peace Treaty’ With Russia

from Sputnik News:
On Friday, fourteen European countries called to re-launch a conventional arms control treaty with Russia. Russian military experts have commented on the initiative, focusing on how the US president-elect might contribute to the proposal.
The foreign ministers of 14 European nations have called to renew conventional arms controls to reduce military risks after seeing the existing treaties “crumble” in recent years. The initiative was put forward by German Foreign Minister Frank-Walter Steinmeier and was signed by Austria, Belgium, Bulgaria, Czech Republic, Finland, France, Italy, the Netherlands, Norway, Slovakia, Spain, Sweden and Switzerland.
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Good News! Trump to Meet with Sheriff Clarke as He Continues to Select Top Advisors

by Jim Hoft, The Gateway Pundit:
Donald Trump will meet with Milwaukee Sheriff David Clarke next week as he continues to select members for his administration.
Breitbart.com reported:
President-elect Donald Trump plans to meet with Milwaukee County Sheriff David Clarke as he continues to vet possible candidates for his administration.
Trump transition team officials confirmed that the president-elect would meet with Clarke on Monday, after he returns to Trump Tower from his Thanksgiving trip to Mar-a-largo in Florida.
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