Dec 02

mnuchin

Buyers Remorse – Trump Supporter Was Foreclosed on by Treasury Pick Steve Mnuchin:

Two days after Donald Trump’s election victory, I expressed the following sentiment in a post titled, Draining the Swamp? Wall Street is Already Loving Donald Trump:

To conclude, this article is primarily written for all my readers who are either Trump supporters, or who reluctantly voted for him. My message to you is that we need to hold this man’s feet to the fire. The election is over, and you got your desired outcome. Now is not the time to be a cheerleader. Now is not the time to behave exactly like Obama zombies did after he became an obvious betrayal. What allowed Obama to do all the bad things he did, was the fact that his supporters made endless excuses for him. Don’t make excuses for Trump. If you do, your life will get a lot worse and this country will decay far more into an authoritarian oligarchy than it already has. It is up to you to make sure he doesn’t become the Wall Street puppet I always feared he would be.

This message has become increasingly important with each passing day, and with every new cabinet disappointment. Mnuchin is not the only one. Trump picked the sister of Blackwater’s Erik Prince for Education Secretary (for more on Prince, see: America’s Top Rogue Mercenary – Blackwater’s Erik Prince is Under Federal Investigation) and Mitch McConnell’s wife for Transportation Secretary (see: Trump Fills the Swamp with Elaine Chao, Mitch McConnell’s Wife, for Transportation Secretary). The swamp is being filled rapidly, and the sooner we admit it, the better.

Those who recognize Trump’s betrayal most quickly will be average Americans who have been preyed upon by some of his cabinet picks. One of these people is Teena Colebrook. Continue reading »

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Dec 02

Schwarzman, Dimon, Fink Will Advise Trump How To Create Jobs:

Shortly after Donald Trump picked former Goldman partner Steven Mnuchin as Treasury Secretary, he was rumored to be considering another Goldmanite, current President and COO Gary Cohn – who as reported earlier this week is already contemplating “life after Goldman” – for energy secretary. The follows a previous report that Trump may appoint Cohn as head of the Office of Management and Budget. So, as Trump wonders which other Goldman banker to poach to fully outsource financial management of the US directly to Goldman, a taxpayer-backed hedge fund which has already taken over the world’s central banks, he decided to spread the Wall Street love and earlier today announced that he has created an economic panel chaired by Blackstone’s Stephen Schwarzmann, whose members will also include such illustrious “non-swampies” as Jamie Dimon and Larry Fink, as well as various other “prominent U.S. business leaders” to get Wall Street’s advice on such matters as … job creation.

The President’s Strategic and Policy Forum will begin meeting with Trump in February after his inauguration. From the announcement:

President-elect Donald J. Trump today announced that he is establishing the President’s Strategic and Policy Forum. The Forum, which is composed of some of America’s most highly respected and successful business leaders, 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 A. Schwarzman, Chairman, CEO, and Co-Founder of Blackstone. Continue reading »

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Dec 02

Since 2014 The US Has Added 571,000 Waiters And Bartenders And Lost 34,000 Manufacturing Workers

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Dec 02

Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month:

So much for that much anticipated rebound in the participation rate.

After it had managed to post a modest increase in the early part of the year, hitting the highest level in one year in March at 63%, the disenchantment with working has returned, and the labor force participation rate had flatlined for the next few month, ultimately dropping in November to 62.7%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 446,000 in November, hitting an all time high of 95.1 million.

labor-force-participation-rate-not-in-labor-force-95mm

As a result of this the US labor force shrank by 226,000 to 159,486K, down from 159,712K a month ago, and helped the unemployment rate tumble to 4.6%, the lowest level since August 2007.

Continue reading »

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Dec 02

Norway Buying $130 Billion In Global Equities As Sovereign Wealth Fund Continues To Bleed Cash

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Dec 02

Trump-Satanic-Hand-SignTrump-Clinton

Related info:

Former Goldman Partner And Soros Employee Steve Mnuchin And Billionaire Wilbur Ross Confirm Elite Puppet Trump Nominations On CNBC

Hillary Clinton & Donald Trump Are Both Elite Puppets, Serving The Same Masters


1-trump-building-in-chicago-slava-shamanoff

Did George Soros forgive Trump of a $312 million debt? (July 14, 2016):

In 2005 Donald Trump started construction on the Trump International Hotel and Tower in Chicago.

To build the tower, Trump received several loans primarily from Deutsche Bank for $650 million, but he also lined up a $160 million mezzanine loan* from a group of private investors, Fortress Investment Group, Blackacre Capital, and support from billionaire George Soros, who invested $160 million to help build the Chicago skyscraper. Soros was a key piece in what was the largest construction financing in the city’s history, according to real estate sources and public documents. Continue reading »

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Dec 01

Dollar General’s Startling Admission: Half Of U.S. Consumers Are Feeling More “Dire” Than Ever

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Dec 01

One Scary Chart: Venezuela’s Currency Disintegrates:

It was just this past Monday when we were reported that the Venezuela currency, the Bolivar, had crashed below 3,000 for the first time ever, losing 15% of its value in just one day as the Venezuela hyperinflation had entered its terminal phase.

Today, the DolarToday.com website, maintained by a person the WSJ dubbed “Public Enemy No. 1 of Venezuela’s revolutionary government, Gustavo Díaz, a Home Depot Inc. employee in central Alabama” reports that having crossed the psychological 2,000 level ten days ago, and taking out the 3000 barrier earlier this week, the Bolivar has now plunged to a new all time low of 4,609.37 on the black market, dropping by 15% from its latest print of 2,972 reported on Friday of last week, and has lost 60% in its value just in the past month.

So for anyone still unsure what real-time hyperinflation looks like, here is the updated visual answer.

bolivar-12-1-2016_0

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Dec 01

The Details Behind Trump’s Deal With Carrier Revealed:

In the end, UTC agreed to retain approximately 800 manufacturing jobs at the Indiana plant that had been slated to move to Mexico, as well as another 300 engineering and headquarters jobs. In return, the company will get roughly $700,000 a year for a period of years in state tax incentives.

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Dec 01

Angry Mobs Lock Up Indian Bankers As Cash Chaos Soars: “We Are Fearing The Worst”:

Bankers are bracing for long hours and angry mobs as pay day approaches in India. “We are bracing ourselves for payday and fearing the worst,” the chief executive officer at Laxmi Vilas Bank said, concerned the situation has gotten out of control.

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Dec 01

Venezuela Braces For Hyperinflation As Merchants Weigh “Mountains Of Cash” Instead Of Counting It

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Dec 01

Global Bonds Lose $1.7 Trillion In November, Worst Monthly Meltdown On Record:

Less than two months after Ray Dalio warned about a potential wipe out in the bond market, he has been proven right: the November surge in global yields has resulted in the worst monthly loss in the Bloomberg Barclays Global Aggregate Total Return Index, which lost 4% in November, a record drop, and equivalent to $.17 trillion in losses. The index’s market value fell $2.8 trillion over past two months.

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Dec 01

H/t reader squodgy:

“The future of the Economy is NOTHING TO DO WITH TRUMP….X-22 Report”

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Dec 01

On a side note:

Avoid fluoride & glyphosate (Roundup).

Related info:

Gluten and GMOs, Jeffrey Smith interviews Dr. Stephanie Seneff (MIT, Senior Research Scientist) (Video)


Fertility Rates Keep Dropping, And It’s Going To Hit The Economy Hard:

Total fertility rates, which can be defined as the average number of children born to a woman who survives her reproductive years (aged 15-49), have decreased globally by about half since 1960. This has drastically shaped today’s global economy, but a continued decline could have much more severe long-term consequences.

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Nov 30

H/t reader squodgy:

“This will speed up the Sino-Russian project.
If the US sanctions screw up sales of planes by both puppet aircraft manufacturers Boeing & Airbus, the US are cutting everyone’s noses to spite Iran.”

Related info:

Russia & China reveal their alternative to Airbus & Boeing


airbus-layoffs
The layoffs will be spread across four countries in Europe.

Airbus to fire 1,100 workers amid losses, Iran dilemma:

Airbus has announced plans to cut more than 1,100 jobs across Europe and close one of its sites in the Paris region, capping a year marked by a series of losses.

The company has been running into headwinds with its A350 passenger jet – Airbus’s answer to the Boeing 787 Dreamliner – which has missed several targets to take off commercially.

Airbus has also suffered losses of about two billion euros on its A400M military transporter while its helicopter division has suffered from a weak market.

According to Airbus spokesman Jacques Rocca, the layoffs will be spread across four countries, with 640 jobs cut in France, 429 in Germany, 54 in Britain and 39 in Spain. Continue reading »

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Nov 30

20161130_oil_0

Here Are The Details From The OPEC Production Cut Deal:

Update 5: as the meeting concludes, here are the details as they emerge one headline at a time: Continue reading »

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Nov 30

Judging By Their Stock Markets, The Economies Of These Two Nations Must Be Doing Great:

As the public is told day after day by mainstream media, if stock prices are up in America, it is an indication that all is well in the economy… consumers can consume, investors can invest, and producers can produce as confident citizens gorge on ever more credit (because everything is awesome). So we wonder what the ‘CNBC’ of these two countries would be saying about their stock markets’ massive outperformance…

Venezuela’s “economy” must be roaring?

venezuela-zimbabwe-stocks

Of course the point is, it matters what the numeraire is and with Bolivars hyperinflating and ZimDollars on the verge of hyperinflating as Mugabe prints money once again, these ‘markets’ are merely reflecting the collapsing worth of local currency. But hey, don’t tell the global investing public, stocks up = good news, no matter what, right?!

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Nov 30

H/t reader squodgy:

“I think we should all pool our savings and help these poor people.”


RBS fails Bank of England stress test:

Standard Chartered and Barclays would also need more capital if the economy deteriorated

The Royal Bank of Scotland (RBS) has failed key hurdles in a Bank of England stress test, forcing the lender to draw up new plans in case of a financial crisis.

The toughest stress test yet assessed how the UK’s seven biggest lenders would cope with hypothetical scenarios including a recession, a housing crash and a halving of the oil price.

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Nov 30

China has also been buying oil like crazy. 

“Let the next financial crisis begin.”


Japan Leading an Unprecedented Oil and Gas Asset Buying Spree

H/t reader kevin a.

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Nov 29

H/t reader squodgy:

“Must keep in mind at all times.”

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Nov 28

Greece Is Not India? Hellenic Banks Plan “Tax On Cash Withdrawals” To Combat Black Economy:

Greek banks have proposed a series of measures to combat tax evasion, strengthen the electronic transactions and limit the use of cash in the economy, and as KeepTalkingGreece.com reports, one of the measures proposed is a special tax on cash withdrawals.

 Bankers reportedly stress that cash money can easily and largely be channeled in the black economy. Therefore, a tax on cash withdrawals will drastically reduce cash transactions and by extension the black economy. Continue reading »

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Nov 28

Aussie Media Push Globalists’ “Cash Is For Criminals” Narrative:

“We are entering a very dark phase in this battle to retain our liberty,” warns Armstrong Economics’ Martin Armstrong, adding that “this is the most dangerous period we are heading into for governments will respond only to their own self-interest to survive.”

20161128_warcash

The war on cash is in full swing.

First we saw India’s Modi demonetize bank-notes in the interest of fighting corruption and tax avoidance in the black economy… later admitting that this will eventually lead to a cashless society.

Then we hear of a proposal now being whispered behind the curtain in Europe is to impose a tax on withdrawing your own money from an ATM. The banks support this measure as a whole because they see this as preventing bank runs.

And now the whispers behind the curtain are starting to get louder. Continue reading »

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Nov 28

The Hyperinflationary Endgame: Venezuela Currency Crashes 15% In One Day:

Just last week we were amazed to report that the Venezuela currency, the Bolivar, had crashed below 2,000 for the first time ever, losing 50% of its value in just two months as the Venezuela hyperinflation had entered its terminal phase.

As of this morning, the DolarToday.com website, maintained by a person the WSJ dubbed “Public Enemy No. 1 of Venezuela’s revolutionary government, Gustavo Díaz, a Home Depot Inc. employee in central Alabama” reports that having crossed the psychological 2,000 level just one week ago, the Bolivar has just plunged to a new all time low of 3,480.22 on the black market, dropping by 15% from its latest print of 2,972 reported on Friday of last week, and has lost 60% in its value just in the past month.

So for anyone still curious what hyperinflation in real time looks like, here is the visual answer.

venz-bolivar

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Nov 28

H/t reader squodgy:

“Like I said, Economics is bullshit theory of behavioural theory and nothing more.

Here’s proof.”


60% Of New Yorkers Are One Paycheck Away From Homelessness:

More than half of all New Yorkers don’t have enough money saved to cover them in the event of a lost job, medical emergency, or other disaster, according to a new report by the Association for Neighborhood & Housing Development.

Click image for massive legible version)

20161127_nyc_1

As The Gothamist reports, nearly 60 percent of New Yorkers lack the emergency savings necessary to cover at least three months’ worth of household expenses including food, housing, and rent, but that statistic isn’t spread evenly across the five boroughs.

Continue reading »

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Nov 28

India’s Modi Admits Plan Shifting Nation To “Cashless Society”:

Well who could have seen this coming? Just as we noted, the slippery slope towards full government control in a cash-less society is where Indian PM Modi is heading following his chaos-creating demonetization efforts of the last two weeks. While massive opposition protests are planned tomorrow, Modi remains indignant, as Reuters reports, “we can gradually move from a less-cash society to a cashless society…this is the chance for you to enter the digital world.”

Indian Prime Minister Narendra Modi on Sunday urged the nation’s small traders and daily wage earners to embrace digital payment channels, as a cash crunch following the government’s surprise ban on high-value bank notes drags on. Continue reading »

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Nov 28

Black Friday Sales Slump As Retail Tracker Admits Holiday Season “Off To A Slow Start”, Blames Warm Weather:

Sales and traffic at U.S. brick-and-mortar stores on Thanksgiving Day and Black Friday declined from last year, as Reuters reports that stores offered discounts well beyond the weekend and more customers shopped online.

The National Retail Federation reports that spending per person over Thanksgiving Weekend this year was $289.19, down 3.4% from $299.60 in the same period last year. Continue reading »

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Nov 28

Gold-101

“H/t reader squodgy:

Here it is.

We have been warned.”


‘Real’ Money & Why You Need It Now, Part 1:

In these volatile times, gold is more important than ever. Bonner & Partners’ Bill Bonner explains in this two-part series, the importance of ‘real money’ and why you need it now…

Many years ago, before the invention of modern money or capitalism, people still had wealth – although limited. And they still had ways of keeping track of it. The principle of “fair trade” seems to be in our DNA.

If you give something to your neighbor, you don’t expect him to hit you over the head. You expect him to give you something back. And if you give him a whole cow and he gives you half of a rabbit, some instinct tells you it isn’t “fair.”

Small communities could keep track of who owed what to whom. But as civilization evolved, a new kind of money was needed. Continue reading »

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Nov 28

Former CEO Of UBS And Credit Suisse: “Central Banks Are Past The Point Of No Return, It Will All End In A Crash”:

Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered “fake news” within the “serious” financial community, disseminated by fringe blogs?

Good times.

In an interview with Swiss Sonntags Blick titled appropriately enough “A Recession Is Sometimes Necessary“, the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by criticizing the growing strength of central banks and their ‘supremacy over the markets and other banks’. The former chief executive officer claimed that the use of negative interest rates and huge positive balance sheets represent ‘weapons of mass destruction’. He calls for an end to the use of negative interest rates.  Continue reading »

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Nov 27

Italy: The Biggest Elephant Jeopardizing Europe and the Euro

H/t reader squodgy:

“But the power drunks will try to maintain the trend towards totalitarianism. The likes of Juncker and Draghi simply cannot pull their noses out of the trough.”

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Nov 27

Black-Friday Woes: The Death of the Department Store

H/t reader kevin a.

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