30-year Treasury bond yield hits highest since 2015 as Fed highlights inflation risk

Treasury yields rose on Wednesday after the Federal Reserve released its minutes from the January monetary-policy meeting. The central bank said it saw muted risks of the economy overheating even as senior Fed officials appeared to raise the outlook for stronger inflationary pressures. The rate for the 30-year bond or long bond, climbed 6.9 basis points to 3.223%, its highest yield since June 2015. The two-year note yield the most sensitive to the vagaries of interest-rate expectations, was up 4.3 basis points to 2.270%, marking its seventh straight day of yield gains. The yield on the 10-year Treasury note meanwhile, was up by 4.8 basis points to 2.943%, its highest since January 2014. Bond prices and yields move in the opposite direction.

The Fed’s minutes from the two-day January meeting were read as hawkish by market participants as senior Fed officials said the outlook for stronger growth this year suggested “further” rate hikes were in the cards.

Central bankers raised the risk of inflation heading higher, giving long-dated yields the room to run higher. Price pressures tend to be bearish for bonds as they can erode the value of fixed-interest payments. Expectations for greater issuance to fund the government’s spending plan have played a part in driving bond prices lower and yields higher. Those worries center on the view that the bond market is ill-prepared to absorb an increase in debt sales as the Fed unwinds its multi trillion-dollar balance sheet. Nick Note: Its time to lock in some more of our beloved STRIPS……. Rates will rise faster in the short end and the yield curve will reverse. Then we will have a bond market hoedown… wont that be FUN!!!

 

U.S. Existing Home Sales Unexpectedly Tumble 3.2% In January

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Existing home sales in the U.S. unexpectedly showed a steep drop in the month of January, according to a report released by the National Association of Realtors on Wednesday. NAR said existing home sales tumbled by 3.2 percent to an annual rate of 5.38 million in January from a downwardly revised 5.56 million in December. The decrease surprised economists, who had expected existing home sales to climb to a rate of 5.60 million from the 5.57 million originally reported for the previous month.

With the unexpected monthly decrease, existing home sales were down by 4.8 compared to the same month a year ago, the biggest year-over-year decline since August of 2014.

 

Housing inventory at the end of January rose 4.1 percent to 1.52 million existing homes available for sale, but is still 9.5 percent lower than a year ago. Unsold inventory represents 3.4 months of supply at the current sales pace.

Trump moves to ban ‘bump stocks’ after Florida high school massacre

President directs Sessions to develop new regulations
Reuters A bump stock attaches to a semi-automatic assault rifle to increase the firing rate.

President Donald Trump said Tuesday he is moving to impose new regulations that would ban devices that allow certain firearms to function as rapid-fire “machine guns,” coming off the mass shooting at a Florida high school that left 17 people dead. Trump, speaking at an event in the White House, said he had signed a memorandum directing Attorney General Jeff Sessions to develop regulations that would ban the use of “bump stocks.” While that accessory wasn’t used in last week’s Florida shooting, it was used in the Las Vegas gun massacre in October that stands as the deadliest in U.S. history. In a statement, the Department of Justice said that it grasps that “this is a priority for the president and [it] has acted quickly to move through the rule-making process. We look forward to the results of that process as soon as it is duly completed.” The deadly shooting last Wednesday at Marjory Stoneman Douglas High School in Parkland, Fla., thrust gun laws back into the spotlight. A 19-year-old former student there admitted to killing 17 students and school employees. He was armed with an AR-15-style rifle, according to a complaint affidavit released Thursday. Nick Bit: This is the height stupidness. You are not going to collect all the guns, or identify,  never mind stop the crazies. Solution is simply harden their targets. Federal buildings, courthouses and airports all have limited controlled access and armed security. Its time to harden ALL public places. Sorry thats the REALITY of the world we live in. ALL public places of 100 people or more must have controlled access, weapons checks like metal detectors and and and armed security. Then instead of a slaughter it becomes a equal fight. No more slaughter of the innocent. And get this sick puppies don’t want a fair fight. They pick soft targets. Instead of killing dozens the Losers  get dropped after they get off a shot or two. And then we don’t have to waste money on therapy or incarceration,,, The Funeral is much cheaper! Time to get over our naive stage. Its done this way all over the world!  AND GET THIS IT WORKS.

4 Key Facts About Mueller’s Latest Target, Alex Van Der Zwaan

 

Alex Van Der Zwaan was charged on Tuesday with lying to special counsel Robert Mueller and the FBI over the course of the investigation into Russian interference with the 2016 U.S. general election.

1. Son of a Russian Oligarch

Van Der Zwaan is the son-in-law of Russian oligarch German Khan. Khan is a bit of a known quantity. There are extensive Wikileaks files related to the Russian oligarch. According to a 2014 profile in The New Yorker:

Before starting a trading company with [Mikhail] Fridman, Khan sold T-shirts and jeans at a market in Moscow. He is now hugely rich. In a U.S. Embassy communication released by WikiLeaks, a foreign executive recalled a trip to Khan’s hunting lodge, which he described as “like a Four Seasons hotel in the middle of nowhere.” Khan showed up in the company of his girlfriend and half a dozen prostitutes (he is married), and referred to “The Godfather” as a “manual for life.”

Last year, Khan sued Buzzfeed News for libel over their publication of the Steele dossier.

2. Used to Work for Top U.S. Law Firm

Van Der Zwaan previously worked for “Wall Street’s most powerful law firm,” Skadden, Arps, Slate, Meagher & Flom.

In his now-deleted biography page–documented by the Connecticut Law Tribune–Van Der Zwaan’s notable duties included, “serving as a rule-of-law consultant to the Ministry of Justice of Ukraine and writing a report on due process issues associated with a high-profile prosecution.”

According to the National Law Journal, Skadden and Van Der Zwaan parted ways sometime in 2017. That same article notes that Skadden is currently cooperating with Mueller’s team.

Aside from Skadden deleting all references to Van Der Zwaan, the attorney himself is apparently decreasing his online presence: his LinkedIn page is dark too.

3. Questionable Client

Former Ukrainian Justice Minister Oleksandr Lavrynovych allegedly embezzled $1.1 million from the Ukranian government in order to pay Skadden, Arps, Meagher, & Flom for their work—the Tymoshenko report—referenced in Mueller’s Tuesday charge against Van Der Zwaan.

That 2012 report, that Van Der Zwaan worked on, examined the legal basis for criminal charges against Yulia Tymoshenko—a two-time former prime minister of Ukraine who is the political arch-nemesis of former Ukrainian President Viktor Yanukovych.

Skadden refunded $567,000 out of that sum in June of 2017.

4. And an Obama Connection, Too

It’s now possible that two former members of the Barack Obama administration are potentially tied to the Mueller probe’s findings due to their association with Van Der Zwaan and Skadden. Per a 2017 Kyiv Post report, Gregory Craig and Clifford Sloan were apparently members of the Skadden team who traveled to the Ukraine for the Tymoshenko report.  Craig and Sloan are both currently employed by Skadden.

Craig’s bio there reads, in part, “Mr. Craig represents clients before a variety of agencies, such as the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), the Immigration and Naturalization Service (INS), and the Treasury and State Departments. From January 2009 to January 2010, Mr. Craig served as President Obama’s first White House counsel. ”

Sloan’s Skadden bio reads, in part, “Mr. Sloan served as special envoy for Guantanamo closure at the U.S. Department of State. In that role, he was responsible for negotiating with countries to accept the transfer of detainees and for navigating the various international relations, national security and humans rights issues that arose during the efforts to close the detention facility. He also co-chaired an interagency working group that included the State Department, the Department of Defense, the Joint Chiefs of Staff, the Department of Justice, the Department of Homeland Security and the Office of the Director of National Intelligence.”

How Did the Russians Know TO Focus on The Purple States When Clinton Didn’t!

Former Hillary Clinton Campaign Manager John Podesta was recently scorched during an interview on Face The Nation. In an interesting exchange on the CBS Sunday morning show, Podesta was asked how Russians knew to conduct operations in purple states such as Wisconsin, while the Clinton campaign ignored voters in those states. “How is it that these Russian operatives knew to focus on purple states like Michigan and Wisconsin and your campaign didn’t?” asked host Nancy Cords.

A flummoxed Podesta responded the Clinton campaign had indeed expended “effort” in those states. “Well we spent a lot of time and energy and effort in all those states,” Podesta answered. Cords followed up arguing, “Hillary Clinton herself did not spend much time in those states.” (Correction – Hillary spent zero time in Wisconsin.)

A Justice Department indictment released Friday by FBI Special Counsel Robert Mueller’s office netted 13 Russian operatives and three Russian entities for allegedly interfering in the 2016 presidential election.

Nick Bit: Obviously someone in the TRUMP campaign had advanced poling information (that Russia could not obtain on its own) and gave it to the Russians. Without Swinging these key states Trumps way he never would have eked out his minuscule victory Russian Collusion with the Trump campaign got him the win!

Please Note: Trump has done nothing but tried to undermine the Mueller investigation, he hasn’t implemented the Russian  sanctions that were passed by the Congress and that he signed in reaction to the activities in the 2016 election. We learned this week, he’s ordered no effort to try to get the intelligence community to get together to try to prevent further activities in the 2018 election.”

Nick Bit: It is obvious to me Trump has been compromised by the Russians. Through dirty financial dealing and Kinky shit with Russians whores. I understand its quite the video!

Japan Core Machine Orders Plunge 11.9% In December

The value of core machine orders in Japan tumbled a seasonally adjusted 11.9 percent on month in December, the Cabinet Office said on Thursday. That was well shy of forecasts for a decline of 2.0 percent following the 5.7 percent gain in November. On a yearly basis, core machine orders skidded 5.0 percent – again missing forecasts for a gain of 1.8 percent following the 4.1 percent gain in the previous month. The total value of machine orders, which includes volatile ones for ships and electric power companies, fell a seasonally adjusted 14.9 percent on month and 5.6 percent on year in December. Nick Note: Japan one of the worlds export powerhouses is a good barameter of global sales. And they suck!

Outgoing GOP rep: Republican Party ‘heading into trouble’ in election

Outgoing Republican Rep. Ileana Ros-Lehtinen (Fla.) said in an interview broadcast Sunday that it would be “foolish” for the GOP not to realize that it’s “heading into trouble” in the next election.

“When you look at the future of the Republican Party, I think that we would be foolish to not see that we’re heading into trouble,” Ros-Lehtinen told CBS’s “Face the Nation.” Speaking on a panel of other GOP lawmakers leaving Congress, Ros-Lehtinen noted that “few women” are running for office as Republicans. “Far greater numbers of women are identifying themselves as being in the Democratic party,” she said  The panel also included Reps. Charlie Dent (R-Pa.) and Ed Royce (R-Calif.), in addition to Sen. Jeff Flake (R-Ariz.). All four lawmakers will retire at the end of their current term. All four expressed concerns with partisanship in the current Congress. Ros-Lehtinen said she does not see the GOP adopting policies that attract minorities, millennials, or women. Flake, who has been vocal in criticizing President Trump the last year, said he believes the GOP has changed as a party since he took office. Nick Note: the sleeping Republicans will get their asses kicked in the fall elections. They are ALL in denial. And Captain Trump head of the SS sinking ship is steering the boat onto the reef!

Limbaugh warns Trump not to claim he’s vindicated by Mueller

Conservative talk radio host Rush Limbaugh on Sunday cautioned President Trump against claiming vindication in the Russia investigation, arguing that could get him into trouble down the road.

“I would be very careful if I were President Trump, here” Limbaugh told “Fox News Sunday.”

“The danger for the president is — it would be very, I think, seductive for him to embrace this totally embrace this — ‘see see I’ve been vindicated,’ ” he added. The remarks from Limbaugh come after the Justice Department last week announced indictments against 13 Russian nationals and three Russian groups as part of the special counsel’s probe into Russia’s election interference and any potential ties between Trump campaign staff members and the Kremlin. Trump previously claimed that the release of a controversial Republican memo alleging surveillance abuses by the Justice Department “totally vindicates” him in the Russia probe.

Limbaugh on Sunday argued this kind of claim is “the worst thing” Trump could do because it may get him into trouble should the special counsel issue additional indictments.

“The worst thing he can do in his world is to validate this whole investigation by claiming victory here because what if down the road, there is another indictment or a series of indictments that do name Trump or do name the Russians and Trump campaign colluding,” Limbaugh said. Nick Note: Trump too the bait. Mullier will soon show that people in the Trump campaiign did indedd collude with the Russias to get Trump elected. Including JR, and Son In Law from hell!

Trump says FBI missed Florida shooter ‘signals’ spending ‘too much time trying to prove Russian collusion’

President Trump late Saturday suggested the FBI could have stopped the shooter who killed 17 people and injured 14 others at a Florida high school this week if the bureau spent less time working on the Russia investigation.

“Very sad that the FBI missed all of the many signals sent out by the Florida school shooter. This is not acceptable. They are spending too much time trying to prove Russian collusion with the Trump campaign – there is no collusion. Get back to the basics and make us all proud!” Trump tweeted

His comment comes after the FBI said Friday that it had failed to follow “protocols” when it received a tip earlier this year about 19-year-old Nikolas Cruz, who officials say went on a rampage at Marjory Stoneman Douglas High School in Parkland, Fla., on Wednesday.

Nick Note: The FBI has over 30,000 agents less then 100 were/are involved it protecting America from Russian manipulation in our Elections. And none of them were in the Broward County field office that had responsibility and jurisdiction in the sick puppy shooter attack on his former class mates. IN FLORIDA!

U.S. Import Prices Jump In January

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Import prices in the U.S. jumped by more than expected in the month of January, according to a report released by the Labor Department on Friday, while export price growth also exceeded estimates. The Labor Department said import prices surged up by 1.0 percent in January after edging up by a revised 0.2 percent in December. Economists had expected import prices to climb by 0.6 percent compared to the 0.1 percent uptick originally reported for the previous month. The bigger than expected increase in import prices was partly due to another spike in prices for fuel imports, which shot up by 4.7 percent in January after jumping by 2.9 percent in December. Excluding prices for fuel imports, import prices rose by 0.4 percent in January after edging down by 0.1 percent in December. Higher prices for non-fuel industrial supplies and materials, automotive vehicles, foods, feeds, and beverages, and capital goods all contributed to the rebound. The report also said export prices increased by 0.8 percent in January after inching up by a revised 0.1 percent in December.

 

 

On the other hand, the report said prices for agricultural exports edged down by 0.1 percent in January after dipping by 0.3 percent in December.The continued decrease in prices for agricultural exports was driven by a 5.8 percent slump in soybean and other oilseeds prices.

Compared to the same month a year ago, import prices were up by 3.6 percent in January, while export prices were up by 3.4 percent.

Nick Note: that’s called importing inflation and exporting deflation. 3 reports now signal their warning.

Florida school shooting: FBI under pressure over failure to act

Pressure is mounting on the FBI over the agency’s failure to act on a tip that Florida school shooting suspect Nikolas Cruz might carry out an attack. Florida Governor Rick Scott said the agency’s director must resign, while Attorney General Jeff Sessions ordered a review, lamenting FBI “failures”. Some of those close to the 17 victims of Wednesday’s shooting also voiced dismay at the FBI’s actions.Nikolas Cruz, 19, has confessed to carrying out Wednesday’s attack at Marjory Stoneman Douglas High School in Parkland and has been charged with 17 counts of murder. It comes after the Federal Bureau of Investigation admitted it did not properly follow up on a warning about Mr Cruz. On 5 January a person close to the suspect contacted the FBI tipline to provide “information about Cruz’s gun ownership, desire to kill people, erratic behaviour, and disturbing social media posts, as well as the potential of him conducting a school shooting”, an FBI statement said. The FBI said that information should have been assessed as a potential threat to life and passed on to the Miami field office but that “we have determined these protocols were not followed”.  Nick Note: We are raising a generation of sick puppies. With no fathers working mothers, a endless string of boyfriends, Video Violence, social media and “action” movies with endless killings. This millennial generation are half the men we are and they know it. Mental illness is of epidemic proportions. These weak people who are in control of nothing become empowered until killed or arrested  as they slaughter the innocent. To them in their meaningless lives its worth it for 6 minuets of power. Notice how they pick targets that cannot fight back. Gun control, mind control, snitches are us cannot solve this fundamental sociable problem. As far as See Something, Say Something is useless if the people in charge don’t DO SOMETHING. The mistake is we have given law enforcement more information, money, power, weapons, equipment  and unqualified personnel then they can manage. Such is the case in all police states.

Tax cut scoreboard: Workers $6 billion; Shareholders: $171 billion

Blankfein: Tax bonuses are 'symbolic' - but symbolism matters
Blankfein: Tax bonuses are ‘symbolic’

The White House has celebrated the TOKEN tax cut bonuses unveiled by the likes of Walmart, Bank of America and Disney. Yet shareholders, not workers, are far bigger direct winners from the Tax Cuts and Jobs Act of 2017.

American companies have lavished Wall Street with $171 billion of stock buyback announcements so far this year, according to research firm Birinyi Associates. That’s a record-high for this point of the year and more than double the $76 billion that Corporate America disclosed at the same point of 2017.

Wall Street loves buybacks because they tend to boost the share price in part by inflating a key measure of profitability. In just the past three days, Cisco, Pepsi and drug maker AbbVie have promised a total of $50 billion of buybacks.

“It’s the largest ever — and nothing has really changed, except the tax law,” said Jeffrey Rubin, director of research at Birinyi Associates.

chart stock buybacks high

Under pressure from Washington, dozens of major companies have decided to share the tax windfall with workers — or at least some of it. Trump said during his State of the Union that roughly three million workers have received tax cut bonuses. Other companies like Wells Fargo have raised the minimum wage for workers, providing a lasting boost in pay. But the amount of money allocated so far on bonuses and wage hikes pales in comparison with Wall Street’s buyback bonanza.

S&P 500 companies have devoted about $5.6 billion to bonuses and wage hikes because of the tax law, according to research from academics Rick Wartzman and William Lazonick as well as the Academic-Industry Research Network. The group added up commitments from the 50 companies in the S&P 500 that had announced plans to reward workers through February 15.

“Our worst nightmare is coming true,” said Frank Clemente, executive editor of Americans for Tax Fairness, a group that fights for progressive tax reform. “We predicted that the lion’s share of the benefits of this tax cut would go to already-wealthy shareholders and CEOs, not to a company’s workers.”

A survey of Morgan Stanley analysts released last week found that just 13% of companies’ tax cut savings will go to pay raises, bonuses and employee benefits. 43% will reward investors with stock buybacks and dividends. The tax-inspired buyback boom may just be getting started. Bank of America recently predicted that S&P 500 companies will use repatriated foreign profits to buy back about $450 billion of stock.  The new law gives companies a tax break — paying between 8% and 15.5% instead of the usual 35% — to bring money sitting overseas back to the United States. That’s in addition to the savings created by the steep decline in the corporate tax rate to 21% from 35%. Companies wishing to use their tax savings on new factories or hiring workers may not have seen enough evidence that expansion is warranted. Critics of buybacks note that America’s wealthiest families tend to benefit disproportionately from a booming stock market — and thus buybacks. The top 10% of households owned 84% of all stocks in 2016, according to paper published last year by NYU professor Edward Wolff. The richest 1% owned 40% of stocks by themselves. “If you want to understand why there is such extreme inequality, this use of corporate cash is a big part of it,” said Lazonick, who is a professor at the University of Massachusetts Lowell. Nick Bit: SUCKER!!! This will do nothing to make America Great Ha Ha Ha AGAIN. Instead it will make the richer the richer. And the middle class poorer. And to add insult to injury the American Worker will pay for the Tax Break Bonanza In higher deficits, higher interest rates and massive job loses.

U.S. producer prices rise in January; industrial output falls

WASHINGTON (Reuters) – U.S. producer prices accelerated in January, boosted by strong gains in the cost of gasoline and healthcare, offering more evidence that inflation pressures were building up. The relatively strong producer inflation report came on the heels of data on Wednesday showing a broad increase in consumer prices in January. Rising inflation was also corroborated by two regional manufacturing surveys on Thursday, which showed sharp increases in prices paid by factories for inputs.

“The drumbeat of higher inflation is getting louder,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “It does appear as if higher inflation is here to stay.”

Firming inflation will force the Federal Reserve to raise interest rates more aggressively than is currently anticipated. The U.S. central bank has forecast three rate increases this year, with the first hike expected in March. The Labor Department said its producer price index for final demand rose 0.4 percent last month after being unchanged in December. That lifted the year-on-year increase in the PPI to 2.7 percent from 2.6 percent in December. Core PPI rose 2.5 percent in the 12 months through January, the largest increase since August 2014. That followed a 2.3 percent gain in December.These costs feed into the Fed’s preferred inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy.  Wholesale goods prices increased 0.7 percent last month, after nudging up 0.1 percent in December. Gasoline prices, which rose 7.1 percent, accounted for nearly half of the increase in the cost of goods last month. Another report from the Fed showed industrial production fell 0.1 percent in January as output at factories failed to increase for the second straight month. Industrial production, which rose 0.4 percent in December, was also weighed down by a 1.0 percent drop in mining output. The survey’s measure of prices paid by factories for inputs rose to its highest level in nearly six years.

U.S. Industrial Production Lower In January

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Partly reflecting a decrease in mining output, the Federal Reserve released a report on Thursday unexpectedly showing a  drop in U.S. industrial production in the month of January. The Fed said industrial production dipped by 0.1 percent after climbing by a downwardly revised 0.4 percent in December. Economists had expected production to rise by 0.2 percent compared to the 0.9 percent increase originally reported for the previous month. “Along with the weaker retail sales data released yesterday, however, it provides further evidence that economic growth may (yet again) disappoint in the first quarter,” Hunter added. The unexpected decrease in production was partly due to a steep drop in mining output, which slumped by 1.0 percent in January after falling by 0.4 percent in December. Manufacturing output came in unchanged for the second consecutive month.

The report also said capacity utilization in the industrial sector dropped to 77.5 percent in January from 77.7 percent in December.

Capacity Utilization in the manufacturing sector was unchanged at 76.2 percent. Nick Note: You are NOT going to make America great again with 25% of manufacturing capacity not use. Why would a company build more factories when a quarter of their capacity stand idle. Its not going to happen. America has TO much of everything. Factories, Malls, stores, Apartments and houses.

Lloyd Blankfein: Odds of a ‘bad outcome’ for economy have gone up

Goldman Sachs CEO Lloyd Blankfein: ‘I haven’t felt this good since 2006’ Right before the crash!

Lloyd Blankfein is worried that a spending spree by the Trump administration could overheat the American economy. “The odds of a bad outcome have gone up,” the Goldman Sachs CEO told CNN’s Christine Romans in an interview airing Wednesday. Blankfein noted that the economy was already humming along before the federal government juiced it with $1.5 trillion in tax cuts and $300 billion of additional spending, pushing up the budget deficit. And now, President Trump has proposed a $200 billion infrastructure package.

That kind of spending is normally reserved for recessions — or at least fragile recoveries — not booms.

Blankfein said the risk is that all that stimulus could be “too much of a good thing” for the economy and financial markets. “Don’t forget, all of these deficits have to be paid for,” he said on the sidelines of Goldman’s 10,000 Small Businesses Summit. Nick Note: trump has gone wild with the stimulus THROUGH deficit spending. THIS WILL SLAM THE US ECONOMY INTO A MASSIVE RECESSION!

 

‘Extraordinary’ growth in US shale oil could soon force OPEC to take action, IEA say

Workers with Raven Drilling line up pipe while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.
Getty Images Workers with Raven Drilling line up pipe while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

The relentless rise of U.S. shale growth could soon spark another dramatic change of policy from leading oil producers, according to the latest monthly report from the International Energy Agency (IEA).

“U.S. producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth,” the IEA said in its closely-watched report published Tuesday.

In November 2014, the so-called U.S. shale revolution prompted OPEC to announce a new strategy geared towards improving its market share. Analysts interpreted this move as an attempt to squeeze higher-cost producers, including U.S. shale oil, out of the market. Market conditions in early 2018 seem to be reminiscent of that first wave of U.S. shale growth, prompting the IEA to warn history could be repeating itself. The latest monthly report from the IEA comes at a time when rising U.S. crude exports and a stronger-than-anticipated price rally have threatened to loosen Russia and Saudi Arabia’s grip on key overseas markets. Oil prices have skyrocketed around 50 percent since the middle of last year, with Brent crude rising to multi-year highs above $71 a barrel, before a pullback last week wiped out its gains for 2018. In just three months to November, U.S. crude output was seen increasing by a “colossal” 846,000 barrels a day, according to the IEA. That will soon be enough to surpass the likes of OPEC kingpin Saudi Arabia and by the end of the year it could even be enough to outperform Russia to become the global leader, the group added. Nick Note: They are still grossly underestimating US shale oil production increases. Prepare for a tsunami of INCREASED US oil production. And get this you Saudi Kingdom from the dark ages…. A presented rise in US oil exports to your customers…… at  $5 a barrel discount to your published  prices.  Coming is a oil price war… LOWERING PRICES!

Another Wells Fargo misstep: customer reparations

Wells Fargo fumbles its efforts to repay impacted customers
Reuters A Wells Fargo branch in Evanston, Illinois
Wells Fargo & Co. is having trouble doing right by the customers it has wronged.

The big bank acknowledged that it recently sent out 38,000 erroneous communications to customers that it forced to buy unneeded auto insurance. In some cases, according to two people briefed on the matter, Wells Fargo  has also sent refunds to people who weren’t the bank’s customers; notified those who were harmed of incorrect amounts to be paid; and told people of coming refunds though they had never gotten the insurance. In another matter, Wells Fargo has yet to begin a broad-based reach out related to refunds for as many as 110,000 customers who were charged improper fees to extend interest-rate commitments they received from Wells Fargo on their mortgages, people familiar with the matter said.

Nick Note: This is no misstep. This is a continuation of the fraud. A conspiracy hatched at the hihgest levels of management. And in the coming crash Well Fargo will be another Lehman

Oil prices rebound after worst weekly loss in more than a year

Rising tensions in the Middle East may also support prices after bout of selling

Oil prices rose on Monday, moving in step with stocks, after an Israeli jet carried out an airstrike in Syria, heightening Middle East tensions. At the end of the last session, the U.S. benchmark logged its worst weekly loss in more than a year, as concerns about supply persisted. Oil suffered a weekly loss of around 9.6% was the biggest such decline since January 2016. Brent prices fell roughly 8.4% for the week, again for the biggest decline since January 2016, according to FactSet Research. Traders were assessing rising geopolitical tensions in the Middle East, after a military exchange between Israel and Syria. On Saturday, Israel said it intercepted an Iranian drone in its airspace, then launched jets to bomb its launch site in Syria, media reports said. But one of the Israeli jets involved in that strike was downed by Syrian fire, prompting more extensive Israeli airstrikes deep inside Syria. Reports said the airstrikes may have destroyed nearly half of Syria’s country’s air defense system. The strengthening dollar combined with rising oil production figures pulled WTI below $59 per barrel for the first time this year on Friday,” said Jasper Lawler, head of research at London Capital Group, in a note to clients.

Friday’s fall for oil came after Baker Hughes reported that the number of active U.S. rigs used for drilling jumped by 26 to 791 last week. It was the third straight weekly rise in rigs and the biggest such gain in more than a year.

Until recently, oil prices have been buoyed by compliance by members of the Organization of the Petroleum Exporting Countries and other large producers with an output-cap deal, among other constraints on supply. Nick Note: the Israel Jet downing is NOT A OIL MARKET ISSUE!  This is the usual rally back.. You will see it  in the stock market as well  before the next downward leg

Turkey slams Cyprus for gas search, blocks rig with warships

Athanasios Gioumpasis | Getty Images
The drillship Pacific Khamsin on November 04, 2016 in Limassol, Cyprus.

Turkey’s foreign ministry has criticized Cyprus for a “unilateral” offshore hydrocarbons search after Turkish warships prevented a rig from reaching an area off Cyprus where it’s to start exploratory drilling for gas. In a statement Sunday, the ministry said Greek Cypriots were disregarding the “inalienable rights on natural resources” of Turkish Cypriots and jeopardizing the region’s stability. Cyprus was split into an internationally-recognized Greek Cypriot south and a breakaway Turkish Cypriot north in 1974. The ministry said the Cyprus government was acting like “the sole owner of the island” and warned it would be responsible for any consequences. Turkey also urged foreign companies not to support the Cyprus’ government’s activities. Italy’s ENI, France’s TOTAL and ExxonMobil of the U.S. are licensed to search for hydrocarbons off Cyprus’ southern coast. Nick Note: this oil field may be the worlds biggest it extends from Cyprus all the way south to Egypt. Virtually untapped. It is another oil and natural gas game changer the field off the coast of Cyprus is know as the the Calypso field, containing an estimated 170-230 BCM. Its part of an enormous discovery in the Southern Mediterranean.

Bitcoin Cash Rises 25% In The Last 24hrs

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The relief rally in Bitcoin markets continued on Friday as BTC/USD exchange rate rose above $8500 as the response to the US regulatory meeting in Washington continued to cast a warm glow over the cryptocurrency space. The big winners are Bitcoin Cash exchanges as they come of age. Even though the credit cad companies are not allowing their clients to use charge cards to buy Bitcoin. They know bitcoin will regulate the charge cad of  business to the scrap heap of history.  A regulatory firestorm has engulfed cryptocurrency markets over the last couple of months, pushing the price down over 60% from its highs around $20,000, hitting a low below $6000 this week.However, some of the fear seems to be ebbiing, helped by the Futures market which seems to have at last found its feet after being in absolute freefall since their inception.

Investors pull record cash from U.S.-based stock funds: Lipper

NEW YORK (Reuters) – U.S. fund investors sucked $23.9 billion out of the stock market during the most recent week, marking the largest withdrawals from those funds on record, Lipper data showed on Thursday. The withdrawals from U.S.-based equity mutual funds and exchange-traded funds took place during the week ended Feb. 7, according to the research service. Their records date back to 1992. Nick Note: Another group of sucker getting fleeced out of their money by Wall Street the masses never learn

Insider trading has been rife on Wall Street, academics conclude

 The whole share-trading system is rigged

INSIDER-TRADING prosecutions have netted plenty of small fry. But many grumble that the big fish swim off unharmed. That nagging fear has some new academic backing, from three studies. One argues that well-connected insiders profited even from the financial crisis.* The others go further still, suggesting the entire share-trading system is rigged.** What is known about insider trading tends to come from prosecutions. But these require fortuitous tip-offs and extensive, expensive investigations, involving the examination of complex evidence from phone calls, e-mails or informants wired with recorders. The resulting haze of numbers may befuddle a jury unless they are leavened with a few spicy details—exotic code words, say, or (even better) suitcases filled with cash. Nick Note: of course the market is rigged. This was the most rigged put up rally EVER. SO the scum bags got it wrong created a bubble and now they are dead meat and we are getting rich. Pretty simple equation. All markets are rigged and all rigged markets collapse

Italy Retail Sales Fall More Than Expected

Italy’s retail sales decreased at a faster-than-expected pace in December, preliminary data from the statistical office Istat showed Wednesday. Retail sales dropped 0.3 percent month-over-month in December, reversing a 0.9 percent increase in November. That was just above the 0.2 percent fall economists had forecast. Sales of food products fell 0.2 percent over the month and those of non-food sales went down by 0.3 percent. On a yearly basis, retail sales edged down 0.1 percent in December, in contrast to a 1.4 percent rise in the prior month. Meanwhile, it was expected to increase by 1.0 percent. In volume terms, retail sales dropped 0.3 percent monthly and by 0.9 percent yearly in December.

UK House Prices Fall For Second Month: Halifax

UK house prices decreased for the second straight month in January, data from the Lloyds bank subsidiary Halifax and IHS Markit showed Wednesday. House prices fell unexpectedly by 0.6 percent in January from December, when they were down 0.8 percent. Prices were forecast to climb 0.2 percent. In three months to January, house prices grew at a slower pace of 2.2 percent from the previous year, slower than the 2.7 percent increase logged in three months to December. Economists had forecast the rate to slow moderately to 2.4 percent. On a quarterly basis, house prices remained flat after gaining 1.3 percent in three months ended December.”Despite the recent rise in the Bank of England Base Rate, mortgage rates are still very low,” Russell Galley, Managing Director, Halifax Community Bank, said. “This, combined with an ongoing acute shortage of properties for sale, will continue to underpin house prices over the coming months,” Galley added.

Germany’s Industrial Production Drops In December

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Germany’s industrial production declined in December. Industrial output slid 0.6 percent month-on-month in December, in contrast to a revised 3.1 percent rise in November, data from Destatis showed Wednesday. Output was forecast to drop 0.5 percent. Excluding energy and construction, production decreased 0.7 percent. Energy production grew 1.4 percent in December, while construction output fell 1.7 percent. Production of capital and consumer goods dropped 2.6 percent and 0.5 percent, respectively. Meanwhile, production of intermediate goods showed an increase by 1.5 percent. Nick Note: we are getting a string of report showing their is a slowdown and its global.

 

Wall Street’s ‘fear gauge’ breaks above 20 for first time since around Trump election

A measure of Wall Street volatility on Monday rose sharply, hitting its highest level since around the time of President Donald Trump’s stunning election victory in November 2016. The CBOE Volatility Index VIX, +115.60% was up 27% at 21.72, its loftiest level since Nov. 4, 2016, according to FactSet data. The VIX uses bullish and bearish option bets on the S&P 500 index SPX, -4.10% to reflect expected volatility over the coming 30 days, and it typically rises as stocks fall. A reading above 20 exceeds that of the volatility gauge’s historical average, and may indicate a more bearish outlook for equities. The spike in the VIX on Monday comes as the S&P 500 index was hitting a near-term nadir, falling more than 5% since a recent peak on Jan. 26, while the Dow Jones Industrial Average DJIA, -4.60% was off more than 460 points, or 1.8%, at 25,098. The Nasdaq Composite Index COMP, -3.78% was off 1.1% at 7,165, as technology shares also came under pressure. Nick Note: the great TRUMP CRASH of 2018 has begun. He may not make America great again be he can make YOU  richer then King Midas.

Jeremy Siegel says investors got too bullish and are now paying the price:

‘We overdid it’

“When I saw at 8:30 that wage [increase] year over year hitting a nine-year high, I said: ‘Wow, we’re probably going to get four interest rates hikes,'” Siegel

  • The Wharton Business School professor cited Friday’s jobs report as the spark in the Dow Jones industrial average’s nearly 666-point drop on Friday.
  • “We overdid it at the end of last year and the beginning of this year,” added Siegel.
Jeremy Siegel
Matt Stroshane | Bloomberg | Getty Images Jeremy Siegel

Longtime market bull Jeremy Siegel says this week’s stock sell-off could evolve into a 10 percent correction. The Wharton Business School professor cited the Labor Department’s jobs report as the main culprit in the Dow Jones industrial average’s nearly 666-point drop on Friday. The S&P 500 also fell more than 2 percent. “I think what happened today was an interest rate effect. When I saw at 8:30 that wage [increase] year over year hitting a nine-year high, I said, ‘Wow, we’re probably going to get four interest rate hikes, we’re going to see the 10-year probably go to 3 [percent],'” Siegel said on CNBC. Interest rates jumped higher following the Labor Department’s strong jobs data, likely to be seen by the Federal Reserve as support for up to four rate hikes in 2018. Stocks immediately tumbled as a result, with investors growing increasingly anxious about the cost of borrowing. Siegel also said traders were overplaying the impact of the recent Republican tax cuts. “We overdid it at the end of last year and the beginning of this year. I mean, I think we almost double-counted the effect of the corporate tax cut, which is very, very positive,” the economist added. “But you were going up far more than what actually earnings were going to rise as a result of the tax cut.” “Will this turn into a correction, 10 percent? It could.” Nick Note: The long awaited bear market has started.. Look  out Below!

U.S. Manufacturing Index Indicates Slightly Slower Growth In January

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Growth in U.S. manufacturing activity saw a modest slowdown in the month of January, according to a report released by the Institute for Supply Management on Thursday. The ISM said its purchasing managers index edged down to 59.1 in January from 59.3 in December, although a reading above 50 still indicates growth in the manufacturing sector. Economists had expected the index to dip to 58.8. The slight decrease by the headline index was partly due to a slowdown in the pace of job growth in the manufacturing sector, as the employment index dropped to 54.1 in January from 58.1 in December. “Employment expansion remains strong, but difficulties across the supply chain continue to constrain production output,” said Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee. The report also showed decreases by the new orders index and the production index, although they remain at elevated levels. The new orders index fell to 65.4 in January from 67.4 in December, while the production index slipped to 64.5 from 65.2. Nick Note: You can feel it in the air. They wana have a good time charlie economy. They have been told about the BIG tax breaks. But they have an awaking when their tax guy tells them about the deductions they lost.

 

U.S. productivity dips 0.1% in fourth quarter, ends 2017 on sour note

Inflation-adjusted worker compensations falls second year in a row… Where the hell is all this make America great again bullshit i keep hearing about
Getty Images U.S. productivity fell in the fourth quarter to end 2017 on a disappointing note.

The productivity of American firms and workers fell at a 0.1% annual pace in the fourth quarter. Economists polled by MarketWatch forecast a 0.2% gain.

Output — goods and services produced — rose 3.2% in the fourth quarter. Yet hours worked grew slightly faster at 3.3%. The difference between the two led to the  decline in productivity. Hourly compensation for workers rose 1.8%, but after adjusting for inflation, compensation actually fell 1.8%. It was the second straight annual decline.

Unit-labor costs, or how much it costs to make each product, rose 2% in the fourth quarter.

Productivity was expected to be weak in the fourth quarter but an outright decline was a disappointment, Productivity has risen by an average of 1.2% from 2007 to 2017. Yet that’s well below the average 2.6% gain from 2000 to 2007 or the 3.2% average from World War II to the end of the 20th century. Low productivity has been a staple of the current expansion. Companies have shirked on investment and relied on cheap labor to boost production of goods and services. Nick Bit: Despit the reality TV show spin that our government has become. The TRUTH is the American worker is sinking fast by any measure. And will be replaced by Robbie the robot…

 Trump has worked on with the congress on the tax break bonanza for billionaires. The only problem is: all of the good news in 2018 will benefit the top 1%. Also, the top 1% gains will come at the expense of the environment, healthcare, social programs, etc. So the bottom 90% will gain nothing monetarily and have a lower quality of life to pay for the benefits to the wealthy.

Mr ‘Irrational Exuberance’ warns there’s a bubble in stocks

The man who made the term “irrational exuberance” famous says investors are at it again.

 

“There are two bubbles: We have a stock market bubble, and we have a bond market bubble,” Alan Greenspan, 91, said on Wednesday on Bloomberg Greenspan’s comments come as international share market indices remain near record highs, despite selling off in recent days, and as the yields on US government notes and bonds hover not far from historic lows.

Greenspan, who led the Federal Reserve from 1987 until 2006, memorably used the phrase Irrational Exuberance to describe the stock  market.  Well he just sounded the Irrational Exuberance Alarm again!

 Greenspan sounded an alarm on forecasts that the US government deficit will continue to climb as a share of gross domestic product. He said he was “surprised” that President Donald Trump didn’t specify how he would fund new government initiatives in Tuesday’s State of the Union speech. The president last month signed into law about $US1.5 trillion ($1.88 trillion) in tax cuts that critics say will further balloon the budget gap. “What’s behind the bubble? Well the fact, that, essentially, we’re beginning to run an ever-larger government deficit,” Greenspan said. As a share of the US economy, “debt has been rising very significantly” and “we’re just not paying enough attention to that.” Nick Note: Please Please listen to me. A stock market wipe out of EPIC proportions is on the VERY VERY near horizon. Protect yourself NOW. Stocks, the economy, housing and the economy are about to have their biggest wipe-out ever. You can go broke or you can go Billionaire. This crash for most will be the greatest  money LOSING  event ever for the many. And for the few the greatest money MAKING opportunity ever…

Sweden Factory Growth Eases Unexpectedly In January

Sweden’s manufacturing growth moderated unexpectedly at the start of the year, but remained robust, survey results from Swedbank and the logistics association SLIF showed Thursday. The Purchasing Managers’ Index, or PMI, for the manufacturing sector dropped to 57.0 in January from 60.4 in December. Meanwhile, economists had expected the index to rise to 61.0. Despite this decline, the index remained at a high level. Any reading above 50 indicates expansion in the sector.

The sub-index for new orders marked the biggest negative contribution to the headline index, falling to 54.8 in January from 62.6 in December.

The share index for production fell to 58.9 from 62.3, while the component index for employment rose to 57.3 from 56.0. Nick Note: This is known as storm clouds on the horizon.

Germany ‘cooking books’ to mask trade surplus, as Trump issues threat

Germany is greatly understating the true size of its current account surplus in order to deflect mounting global criticism, according to an exposé by German economists. The annual surplus in ‘real’ terms – the figure that matters in trade relations – may be as much as €80bn (£70bn) higher than the sum declared by the statistics office and submitted to international bodies. “They’re cooking the books so that the surplus does not look as if it is increasing. What they are doing is a form of ‘political smoothing’, but very few people understand this,” said Professor Heiner Flassbeck, Germany’s former state-secretary of finance and now at Hamburg university.

Portugal Industrial Production Growth Slows Further

Portugal’s industrial production growth eased for the second straight month in December, figures from Statistics Portugal showed Tuesday. Industrial production climbed 1.3 percent year-over-year in December, slower than November’s 3.2 percent rise. Manufacturing output also grew at a weaker pace of 2.8 percent annually in December after a 4.8 percent gain in the prior month. On a monthly basis, industrial production dropped 0.4 percent from November, when it rose by 0.4 percent. Another report from the statistical office showed that annual growth in retail sales accelerated to 5.7 percent in December from 4.9 percent in the prior month. Month-on-month, retail sales went up 0.3 percent in December, well below the 4.1 percent rebound in November..Nick Note: Another European country reports a slow down.

Norway Retail Sales Fall In December

Norway’s retail sales decreased at the end of the year, after rising in the previous month, figures from Statistics Norway showed Tuesday.

The retail sales volume, excluding motor vehicles, dropped a seasonally adjusted 1.0 percent month-over-month in December, reversing a 2.1 percent rise in November. On a yearly basis, both the volume and value of retail sales grew a working-day-adjusted 4.2 percent in December. Nick Note: Add Norway to the list of economies slowing……

French Consumer Spending Falls In December

French consumer spending declined in December after a sharp rebound in the previous month, figures from the statistical office INSEE showed Tuesday.

Consumer spending dropped 1.2 percent month-over-month in December, reversing a 3.0 percent increase in November. Expenditure on food products fell notably by 1.4 percent from November, when it rose by 1.4 percent. Similarly, consumption on engineered goods slid 1.4 percent, in contrast to a 2.6 percent climb in the previous month. Energy consumption registered a moderate decline of 0.4 percent in December. During the fourth quarter, expenditure on goods edged down 0.1 percent compared with the previous quarter. On a yearly basis, consumer spending grew 1.0 percent in December, slower than the 1.6 percent rise economists had forecast. Nick Note: England, Spain, France and now Italy have all reported a drop in consumer spending……

Italy Consumer Confidence Falls Unexpectedly; Business Confidence At 6-Month Low

Italy’s consumer confidence weakened unexpectedly at the start of the year, while business confidence fell to the lowest level in six months, survey data from the statistical office Istat showed Tuesday.

The consumer confidence index dropped to 115.5 in January from 116.5 in December. Meanwhile, economists had expected the index to rise to 116.7. The decline in January was mainly due to the decrease in the economic component and the future component. The balance concerning expectations on unemployment grew from 11.4 to 16.0 and the index measuring the balance on inflation expectations for next twelve months rose to 22.0 from -14.7. Data also showed that the composite business confidence index decreased to 105.6 in January from 108.7 in December. Among components, the manufacturing confidence index worsened to 109.9 from 110.3. The morale also declined in market services and retail trade, while strengthened in construction sector. Nick Note: this is occurring throughout Europe. The only thing that glueing the EU together is massive European Central bank buying of bank paper. eventually the string runs out!

PCE index, the Federal Reserve’s preferred inflation gauge, edged up 0.1% in December.

The PCE index, the Federal Reserve’s preferred inflation gauge, edged up 0.1% in December.  The closely followed “core” rate that strips out food and energy rose 0.2%. The rate of inflation over the past year slipped to 1.7% from 1.8%, however. The core rate was flat at 1.5%.

Americans spent more on big-ticket items such as new cars and trucks. They also devoted more of their budget to eating out. consumers spent more to fill up their tanks because of rising gas prices and a bout of cold weather meant higher utility bills. Inflation, meanwhile, remained relatively tame at year end, hovering just below the Fed’s 2% target. Economists  worry that the declining savings rate will eventually force consumers to cut back. Nick Note: Another clear sign NO INFLATION……..

Spain Retail Sales Growth Slows In December

Spain’s retail sales growth moderated at the end of the year, after accelerating in the previous month, figures from the statistical office INE showed Monday. Retail sales climbed a seasonally and calendar-adjusted 1.2 percent year-over-year in December, slower than November’s 1.9 percent rise, which was revised from a 2.0 percent gain reported earlier. On an unadjusted basis, retail sales advanced 1.5 percent annually in December, following a 3.2 percent rebound in the prior month. During the whole year 2017, retail sales grew 1.4 percent compared with 2016. Without adjustment, the index registered an increase of 1.2 percent. On a monthly basis, retail sales dropped 0.6 percent from November, when it rose by 1.2 percent. Nick Note: Spain is in trouble.. The war over Cataluna succession is taking its tole

Triple treat: Supermoon, blue moon and lunar eclipse all coming to a sky near you

A full harvest moon rises behind Lower Manhattan and One World Trade Center in New York City on September 16, 2016, as seen from Newark, NJ.
A full harvest moon rises behind Lower Manhattan and One World Trade Center in New York City on September 16, 2016, as seen from Newark, NJ.

Skywatchers will get a rare triple treat Jan. 31: a supermoon, a blue moon and a total lunar eclipse. How rare is the event? Even without the supermoon, it’s the first blue moon total lunar eclipse in the U.S. since March 1866, less than a year after the Civil War ended, according to EarthSky.org. A blue moon — which occurs about every 2½ years — is another term for the second full moon in a single calendar month. January’s first full moon occurred Jan. 1. Nick Note: Strange things always happen this day. Lets wait and see!

Graham Trump Effort to Fire Mueller: ‘We’re Not Going to Say It’s Fake News and Move On’

Sunday on ABC’s “This Week,” while discussing the report that President Donald Trump tried to fire special counsel Robert Mueller, Sen. Lindsey Graham, (R-SC) called for Mueller to investigate it saying “we’re not going to say it’s fake news and move on.” Graham said, “I believe it’s something that Mueller should look at. We’re not just going to say it’s fake news and move on. Mueller is the best person to look at it. We know that he did not fire Mr. Mueller. We know if he tried to, it would be the end of his presidency. At the end of the day, let Mr. Mueller do his job and see if we can fix a broken immigration system.” Nick Note: This is ATTEMPTED obstruction. AND weather Fox news agrees or not. TRUMP has got a great big problem………

Trump legal team seeking precedent to avoid Mueller interview: report

 President Trump’s legal team has been looking into a 20-year-old federal court order that could be used to limit or avoid an interview between Trump and special counsel Robert Mueller, according to a new report.

The Wall Street Journal reports that Trump’s lawyers are researching a 1997 case in which a federal appeals court ruled that sitting presidents and their top advisers are protected against disclosing certain information about decision-making and official government actions. In the case, the appeals court ruled that prosecutors who hope to override claims of executive privilege are required to show the court that they hope to obtain “important evidence” that is otherwise unobtainable. Legal scholars told the Journal that Trump’s lawyer’s could use the case to make a potential interview with Mueller more favorable for Trump and prevent a long court fight over the process. “This is really the only argument they can make outside of the Fifth,” Todd Presnell, an attorney who has studied presidential privilege, told the Journal. “The Fifth Amendment would be a public-relations nightmare.” The New York Times reported Thursday that Trump attempted to fire Mueller last June, but backed off after White House counsel Don McGahn refused Trump’s order and threatened to quit. The Times’s report came one day after Trump said he would be willing to interview with Mueller.  Trump told reporters at the White House on Wednesday that he is “looking forward” to the opportunity to sit down with Mueller, but cautioned it would happen “subject to my lawyers.” Trump also pushed back at critics who have accused him of obstructing the Russia probe by attacking the investigations and referring to them as a “witch hunt.” “You fight back, oh, it’s obstruction,” Trump mockingly told reporters. Nick Note: Its how your fight back that is the issue. Is it the crime or the cover up. In Trumps case i am sad to say its both.

Europe has a financial problem as Brexit leaves a gap in its budget, says top EU official

European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen
Dursun Aydemir | Anadolu Agency | Getty Images European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen

Brexit is leaving the European Union with a big problem on its hands and a “very tough” negotiation ahead, European Commission Vice-President Jyrki Katainen told CNBC on Friday. The U.K. has been one of the main contributors to the European budget, but once it has left the bloc there will be a gap in the EU budget that will have to be worked out somehow, Katainen said. “It is certainly a problem and we have to address it,” he said at the World Economic Forum (WEF) in Davos, Switzerland. “If I should bet something, we need to adjust the budget to a certain extent but also we need fresh money from member states. We also have to look at how money is spent, how we could get more out of less.” But many EU members do not want to pay more to compensate for the U.K.’s decision to leave the union. Denmark, for example, made it clear last year that it would not step up its financial commitment because of Brexit. Nick Note: the EU has got a great big problem. Their leftist socialist dreams require money they don’t have. The end draws closer by the day

 

American Airlines CEO: ‘Fares are too low for oil prices this high’

A worker fuels an airliner in Oakland, Calif.
Getty Images A worker fuels an airliner in Oakland, Calif. A sharp increase in fuel prices may show up in your airline ticket soon.

American Airlines CEO Doug Parker said Thursday that airlines are still adjusting to a surge in fuel prices over the last five months. “Fares are too low for oil prices this high,” Parker said on an earnings call. “Over time you’ll see it adjust.” Brent crude prices hit more than three-year highs on Thursday, and airlines are slowly digesting higher costs for one of its biggest expenses. Pricier fuel is a headwind for airlines that are expanding — some aggressively — to take advantage of a strong economy and demand from business and leisure travelers alike. Nick Note: Airlines are among the  many companies that will get killed by the oil and dollar manipulation

 

Russia’s finance ministry ready to regulate, not ban crypto-FX

MOSCOW (Reuters) – Russia’s finance ministry said  it was working on legislation that would regulate crypto-currency transactions without fully banning them, although it would not let digital FX be used as a mean of payment in Russia. The finance ministry said its legislation on crypto-currencies and ‘initial coin offerings’ envisages allowing such deals only through digital exchanges. The ministry said its plan to regulate the crypto-currency market would support the budget, while a full ban on such instruments would create condition for using them for illegal purposes. Nick Note: This is a big deal. many countries under sanctions are starting to figure ut their is a opportunity here.

Toys “R” Us to close about 180 stores across the country

Toys “R” Us said it plans to close about 180 locations around the country. CEO Dave Brandon wrote in a customer letter that the store closings are designed to strengthen the company as it seeks to emerge from bankruptcy protection. In a court document, Toys “R” Us said it will close up to 182 underperforming locations spread across the U.S., representing about one-fifth of its stores. It added that the final decision on shuttering stores will depend on whether the company is able to negotiate more favorable lease terms or rents for some locations. The store closings will begin in February and wind down in April, Brandon said.  The closures follow a holiday season when bricks-and-mortar retailers struggled to compete with the growing popularity of online retailers like Amazon.com. Toys “R” Us had the added challenge of filing for bankruptcy protection in September, just as stores were stocking up for the holidays.  “The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company,” Brandon wrote.  Toys “R” US said it’s requesting bonuses for employees who remain with the stores through their closures.  Nick Note: Maybe instead of buying kid toys they are taking the money and buying stocks.

J&J takes $13.6 billion charge related to new U.S. tax law

FILE PHOTO: The Johnson and Johnson logo is seen at an office building in Singapore January 17, 2018. REUTERS/Thomas White/File Photo

(Reuters) – Johnson & Johnson, one of the world’s largest drugmakers, on Tuesday said that it would take a $13.6-billion charge related to the new U.S. tax law and plans to bring back billions of dollars from overseas immediately. U.S. President Donald Trump signed the law late last year, and many large U.S. corporations and drugmakers have said they will take advantage of its new, lower tax rate on repatriated foreign earnings and cash. J&J last publicly reported a year ago that it had $66 billion in undistributed international earnings and on Tuesday said it had $16 billion in cash outside the United States.He said much of that will be used to pay down debt and also to fund U.S. operations. Nick Note: no new factories… No pay increases…..  no new jobs….. that was not suppose to happen!!

 

 

U.S. attorney general questioned in special counsel Russia probe

 FILE PHOTO: Attorney General Jeff Sessions testifies before a House Judiciary Committee hearing on oversight of the Justice Department on Capitol Hill, November 14, 2017. REUTERS/Aaron P. Bernstein

WASHINGTON (Reuters) – U.S. Attorney General Jeff Sessions was questioned last week by the special counsel’s office investigating potential collusion between Russia and President Donald Trump’s 2016 presidential campaign, a U.S. Justice Department spokesman said Tuesday. The interview marked the first time that Special Counsel Robert Mueller’s office is known to have interviewed a member of Trump’s Cabinet. Sessions recused himself from overseeing the Russia probe last March after media outlets reported he had failed to disclose several 2016 meetings with Russia’s ambassador. His recusal paved the way for Deputy Attorney General Rod Rosenstein to appoint Mueller as special counsel in May 2017. Reuters could not immediately learn details about what kinds of questions Sessions faced during his interview, which was first reported by the New York Times. But his involvement in Trump’s firing of former FBI Director James Comey is likely to be one area of interest for Mueller’s team. Nick Note: This investigation will not go away. And its working its way up the food chain. this  could be a market moving event in the near future

Dems give up shutdown fight

Senate Majority Leader Mitch McConnell of Ky., leaves the Senate chamber on Capitol Hill in Washington, Monday, Jan. 22, 2018. Senate leaders have reached an agreement to advance a bill ending government shutdown. (AP Photo/Pablo Martinez Monsivais)

Senate Democrats relinquished on the government shutdown Monday, agreeing to vote to reopen the government but insisting they’ll keep fighting for illegal immigrant “Dreamers” over the next weeks, with another shutdown deadline looming Feb. 8. “I’m glad we’ve gotten past that,” Majority Leader Mitch McConnell said just ahead of a vote. The vote to end the filibuster was 81-18, clearing the way for passage of the stopgap spending bill. The House was expected to pass the bill later Monday, which would end the shutdown after three days. The breakthrough came after Mr. McConnell said he would allow the Senate to conduct a freewheeling immigration debate in February, unless they come to a deal before then on how to handle the Dreamers. Nick Note: The problem is not resolved… Just pushed forward again. We have got the sorriest public officials EVER. And on both sides. The American people deserve better.

Trump’s budget chief says shutdown could last more than a week

Trump's budget chief says shutdown could last more than a week
© Greg Nash

Office of Management and Budget Director Mick Mulvaney on Sunday predicted that the government shutdown could last more than a week. “I think Democrats want to see the president give the State of the Union under a shutdown,” he said on “Fox News Sunday.” Mulvaney said Democrats want to hurt President Trump by keeping the government closed. He also said, however, that negotiations are continuing on ending the shutdown and “there’s a chance it gets solved before Monday.” Trump’s first State of the Union is scheduled for Jan. 30. Nick Note: their is plenty of blame to go around.  Understand this is posturing for the midterm elections. As far as a market event If they let this go to long it could be a excuse to get out for the Fund boys

The Dow’s 31% gain Trump’s first year is the best since FDR

 Both Roosevelt and Trump Had the biggest stock market rally ever. And both rallies ended in a Great Bear Market

Donald Trump lifted the Dow Jones industrial average in his first year in office more than any other president since Franklin Roosevelt. The Dow has surged more than 31 percent since Trump’s inauguration on Jan. 20, 2017. That marks the index’s best performance during a president’s first year since Roosevelt. The Dow skyrocketed 96.5 percent during Roosevelt’s first year in office. Nick Note: Amazing… What they forget to tell you is this. Roosevelt was elected in 1933. Trump came in after the Great Recession and FDR after the Great depression.  The 1930s were the most volatile decade on record for stock prices. Investors, still hurting from the Depression, were prone to fits of euphoria and despair. The market rose 66.7% in 1933 and 38.5% in 1935. Daily volatility was also intense. Seven of the 10 biggest up days in history, on a percentage basis, occurred during the 1930s. But it did not do anyone any good. Here is why. FDR took office in 1933. The Dow industrial rose 39 that year,  but ended up only 6 points in 1934.  By 1938 the Dow had fallen below 100 again. Reversing all the gains. The market blamed Mr. Roosevelt trade policies making  overseas demand for U.S. goods weak. Please note all safety equipment has been removed including the seat belts and air bags from this preset rally.

UK Retail Sales Fall Most Since Mid 2016

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UK retail sales in December declined more-than-expected from the previous month when consumers were lured by Black Friday promotions, data from the Office for National Statistics revealed Friday. Retail sales volume dropped by a more-than-expected 1.5 percent from November, when they grew 1 percent. This was the biggest fall since June 2016 and the largest in seven years for the month of December. Economists had forecast a 1 percent fall. Similarly, sales excluding auto fuel decreased 1.6 percent, in contrast to November’s 1.1 percent increase. Sales were expected to fall 1 percent.ed.

BP Returns to a Northern Iraq Now Free of Islamic State

Move marks a newfound stability for the country’s volatile north

LONDON—BP PLC will return to northern Iraq for the first time since Islamic State swept through the region three years ago, potentially heralding a new era of stability in one of the world’s most dangerous energy-production provinces. The move thrusts BP back into a volatile region that it fled along with Iraqi forces in 2014 as Islamic State approached. Iraqi Kurds, who have a semiautonomous region of the country nearby, defended and held. Nick Note: This region has some of the biggest oil field in the Middle East rivaling the Saudis… Never tapped. The production coming will negate present Saudi Cuts.. Oil price wipe out here we come

US housing starts down sharply on drop in single-family units

Workers load wood planks on a house under construction in Livermore, California.
David Paul Morris | Bloomberg | Getty Images Workers load wood planks on a house under construction in Livermore, California.

U.S. homebuilding recorded its biggest drop in just over a year, amid a steep decline in the construction of single-family housing units following two months of hefty gains.

Housing starts decreased 8.2 percent to a seasonally adjusted annual rate of 1.192 million units, the Commerce Department said on Thursday.

November’s sales pace was revised up to 1.299 million units from the previously reported 1.297 million units.December’s percentage drop was the largest since November 2016.

Homebuilding increased 2.4 percent to 1.202 million units in 2017, the highest level since 2007.

. A survey on Wednesday showed confidence among homebuilders slipping from an 18-year high in January. Builders expected a dip in buyer traffic and sales over the next six months. Last month, single-family homebuilding, which accounts for the largest share of the housing market, tumbled 11.8 percent to a rate of 836,000 units. Single-family home construction fell in the South, the Northeast and Midwest. It was unchanged in the West. Nick Note: Housing crashing is not suppose to be happening.

Fed’s Beige Book finds muted reaction to Republican tax plan

Little evidence that many firms expect a big effect on investment from fiscal plan
Getty Images

The Federal Reserve said the pace of growth continues to be “modest to moderate” in its latest snapshot of the economy known as the Beige Book. The report covers late November to Jan. 8.

Most districts reported “on-going labor market tightness and challenges finding qualified workers across skills and sectors,” the report said. The lack of workers was constraining growth in some instances. Despite this, wages increased at a modest pace as did prices The outlook for 2018 “remains optimistic for a majority of contacts across the country,” the survey found. Some retailers said holiday sales were higher than expected. The real estate sector seemed to have stalled. Residential real estate was described as “constrained” while non-residential activity saw slight growth. Manufacturers reported modest growth and only some were increasing capital expenditures. Although there were scattered reports of firms raising wages and prices, the report did not identify any broad trend. Only in Chicago and Dallas were there reports of business excitement over the Republican tax plan. Districts along the East Coast were worried about higher taxes on consumers from the new limits on deductions for mortgage interest and property and state income taxes. Asked about consumer spending, an auto dealer in the Philadelphia district felt that “people with cash on hand ran to the municipal tax office to prepay property taxes, not buy cars.” Nick Note: The only thing the Trump Tax cut will do is give the stock market a sugar high that will end in disaster. And give the corporate assholes a PR moment!

White House did not tell Bannon to invoke executive privilege: Kelly

White House Chief of Staff John Kelly arrives for a meeting with House Majority Leader Kevin McCarthy (R-CA) on Capitol Hill in Washington, U.S., January 17, 2018.

WASHINGTON (Reuters) – President Donald Trump’s Chief of Staff John Kelly told Fox News on Wednesday the White House did not tell former Trump chief strategist Steve Bannon to invoke executive privilege in closed testimony before Congress on its probe of alleged Russian meddling in the 2016 U.S. election. Bannon, who testified on Tuesday before the House Intelligence Committee, refused to answer questions about his time in Trump’s administration or during the transition after his lawyer had conferred with the White House, according to Representative Adam Schiff, the top Democrat on the committee. Nick Note: Bullshit. Bannin did not dream that up himself. Of course the white House through attorneys Made him do it!

Goldman Sachs posts $1.9 billion 4Q loss

NEW YORK (AP) — Goldman Sachs posted a $1.93 billion in the fourth quarter, the investment bank said Wednesday, as the bank had to record more than $4 billion in charges related to the new tax law. It was the bank’s first quarterly loss in more than six years.Goldman had a net loss of $5.51 a share, compared with a profit of $2.35 billion, or $5.08 a share, in the same period a year earlier. Excluding the one-time charges, however, the bank earned $5.68 a share, beating analysts’ estimates. Like other banks, Goldman had to write down billions in assets impacted by the new tax law this quarter, resulting in the quarterly loss. It had $3.32 billion in charges related to foreign earnings now taxable under the law and $1.1 billion in charges for deferred tax assets it stockpiled after the financial crisis.

Firm-wide, net revenues at Goldman were $7.83 billion versus $8.17 billion a year earlier.

Outside of the impact of the tax bill, Goldman’s results were hurt by a relatively weak performance on its trading desks, typically one of Goldman’s strongest businesses.

The segment inside Goldman that contains its trading operations had net revenues of $2.37 billion in the fourth quarter, down 34 percent from a year earlier.

Fixed income, currencies and commodities trading net revenues were down by 50 percent from a year earlier.

The firm’s advisory businesses, however, made up for the weak performance in trading. Investment banking net revenues totaled $2.14 billion, up 44 percent from a year earlier. The bank set aside less money per employee for compensation than it had in the past, likely due to the weak performance on its trading desks.  Nick Note: Let me see if i get this. Profits way DOWN. And the stock share price WAY UP! This shit wont go on much longer

New York Manufacturing Index Indicates Slower Growth In January

Growth in activity in the New York manufacturing sector slowed in the month of January, according to a report released by the Federal Reserve Bank of New York on Tuesday. The New York Fed said its general business conditions index dropped to 17.7 in January from an upwardly revised 19.6 in December. A positive reading still indicates growth in regional manufacturing activity.

Bitcoin sinks 20%

How to buy and sell Bitcoin
How to buy and sell Bitcoin

The price of the volatile digital currency dipped below $12,000, its lowest level in more than a month, according to data from CoinDesk.com.Other popular cryptocurrencies ethereum and ripple also posted double-digit losses. It’s unclear why bitcoin fell. Cryptocurrency is a murky market with frequent swings. “Volatility is quite common in the cryptocurrency world,” said Mati Greenspan, a Tel Aviv-based analyst at investment firm eToro. The plunge follows a Bloomberg report on Monday that Chinese officials were stepping-up measures to limit cryptocurrency trading, which is already banned on exchanges. Investors in South Korea and Japan, the two largest cryptocurrency trading nations, were sitting on the sidelines Tuesday waiting for the regulatory uncertainty to clear before placing further bets, said Greenspan. He believes the light trading volume caused bitcoin’s price to plunge. Bitcoin approached a record $20,000 in mid-December as it launched on futures exchanges in the United States. But it has since fallen sharply on intense regulatory scrutiny. Trading is booming in South Korea, but officials began clamping down late last month. South Korea banned opening anonymous virtual currency accounts and put in place new laws giving authorities power to shut down digital currency exchanges. Officials are currently weighing halting trading on exchanges.

Dow 26,000: The stock market is a runaway freight train

Dow hits 26,000 milestone
Dow hits 26,000 milestone

The market’s latest milestone, reached on Tuesday just after the opening bell, easily sets the record for the fastest rise between 1,000-point barriers. The Dow has been around for 121 years. The Dow has spiked almost 8,000 points, or about 42%, since President Trump’s election.  “The market has certainly come out of the gates fast in 2018 after a stellar 2017,” said Art Hogan, chief market strategist at Wunderlich Securities. Still, the relentless surge is raising concern even among some bulls that things are getting out of hand. “I’m not a big fan of melt-ups,” Yardeni wrote. “They tend to be followed by meltdowns.” This bull market began in March 2009, near the end of the Great Recession. The S&P 500 has quadrupled from its bear market low. But the gains have clearly accelerated since Trump’s election. “It’s an extremely impressive rally,” Suzuki said. “It’s pretty indicative of what you see at the end of bull markets when sentiment is in the driver’s seat.” Nick Note: the stock market is very very close to a crash

Pope warns world is one step away from nuclear war

ABOARD THE PAPAL PLANE (Reuters) – Pope Francis said on Monday he was really afraid about the danger of nuclear war and that the world now stood at “the very limit”.Pope Francis holds a picture depicting a victim of the 1945 atomic bombing in Nagasaki as he speaks to reporters onboard the plane for his trip to Chile and Peru January 15, 2018. REUTERS/Alessandro Bianch  His comment, made as he flew off for a visit to Chile and Peru, came after Hawaii issued a false missile alert that provoked panic in the U.S. state and highlighted the risk of possible unintended nuclear war with North Korea. Asked if he was worried about the possibility of nuclear war, Pope Francis said: “I think we are at the very limit. I am really afraid of this. One accident is enough to precipitate things.” He did not mention Hawaii or North Korea. Pope Francis has often flagged the danger of nuclear warfare and in November he appeared to harden the Catholic Church’s teaching against nuclear weapons, saying countries should not stockpile them even for the purpose of deterrence. As reporters boarded his plane bound for Chile, Vatican officials handed out a photograph taken in 1945 that shows a young Japanese boy carrying his dead brother on his shoulders following the U.S. nuclear attack on Nagasaki. “I was moved when I saw this. The only thing I could think of adding were the words ‘the fruit of war’,” Francis said, referring to a caption put on the back of the image. “I wanted to have it reprinted and distributed because an image like this can be more moving than a thousand words. That is why I wanted to share it with you,” he said.

U.S. Consumer Prices Inch Up 0.1% In December, Less Than Expected

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Reflecting a sharp pullback in energy prices, the Labor Department released a report on Friday showing U.S. consumer prices rose by less than expected in the month of December. The Labor Department said its consumer price index inched up by 0.1 percent in December after climbing by 0.4 in November. Economists had expected prices to rise by 0.2 percent. The uptick by the consumer price index was primarily due to an increase in shelter costs, which rose by 0.4 percent in December after edging up by 0.2 percent in November. The report said food prices also rose by 0.2 percent in December after coming in unchanged for two consecutive months. On the other hand, the report showed a steep drop in energy prices, which slumped by 1.2 percent in December after spiking by 3.9 percent in November. The pullback in energy prices came as gasoline prices tumbled by 2.7 percent in December following a 7.3 percent jump in the previous month. Meanwhile, the report said core consumer prices, which exclude food and energy prices, increased by 0.3 percent in December after ticking up by 0.1 percent in November. Core prices had been expected to rise by 0.2 percent. Along with the shelter index, the indexes for medical care, used cars and trucks, new vehicles, and motor vehicle insurance also increased in December. Nick Note: Inflation is dead on arrival.

The Labor Department said the annual rate of consumer price growth slowed to 2.1 percent in December from 2.2 percent November, although the annual rate of core price growth accelerated to 1.8 percent from 1.7 percent.

Paul Ashworth, Chief U.S. Economist at Capital Economics, predicted base effects will keep core inflation low in the first few months of 2018.

“Once spring comes around, however, the big declines in components like wireless telephone services prices will drop out of the annual calculation and the core inflation rate will rebound well above 2%,” he added.

On Thursday, the Labor Department released a separate report unexpectedly showing a modest decrease in producer prices in the month of December.

The producer price index for final demand edged down by 0.1 percent in December after climbing by 0.4 percent in November. Economists had expected prices to rise by 0.2 percent.

Excluding food and energy prices, core producer prices still dipped by 0.1 percent in December following a 0.3 percent increase in November. Core prices had also been expected to tick up by 0.2 percent.

China denies report it may stop buying US Treasury debt

China’s foreign exchange regulator on Thursday challenged a report it might slow or stop purchases of US Treasury debt due to trade tensions with Washington as “fake news.”

The State Administration of Foreign Exchange, one of the biggest holders of Treasurys, said it is a “responsible investor” for both the reserves and “participating markets.” Beijing keeps a big share of its $3.1 trillion in foreign currency reserves in Treasury debt, which is considered safe and easy to trade. The level rises and falls each month as Chinese currency regulators buy and sell dollars to maintain the exchange of Beijing’s tightly controlled yuan. China owned at least $1.2 trillion of Treasury debt as of October, according to US government data. Beijing is believed to hold additional assets through intermediaries in Switzerland other financial centers. Nick Note: They run this disinformation story to drive the dollar lower and interest rates higher. If China wanted to sell US debt it could not. It is the foundation of their currency and run away debt. Besides the fact the most profitable investment the Chinese have EVER made is long term US debt.

U.S. Producer Prices Unexpectedly Show Modest Decrease In December

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A report released by the Labor Department on Thursday unexpectedly showed a modest decrease in producer prices in the month of December.

The Labor Department said its producer price index for final demand edged down by 0.1 percent in December after climbing by 0.4 percent in November. Economists had expected prices to rise by 0.2 percent.

The unexpected decrease was primarily due to a drop in prices for services, with the prices for final demand services index slipping by 0.2 percent in December after rising by 0.2 percent in November. A major factor in the decline in prices for final demand services was a 10.7 percent slump by the index for automotive fuels and lubricants retailing. Prices for final demand trade services slid by 0.6 percent, while prices for final demand transportation and warehousing services fell by 0.4 percent. Meanwhile, the Labor Department said the index for final demand services less trade, transportation, and warehousing inched up by 0.1 percent. The report also showed a decrease in food prices, which dropped by 0.7 percent in December after increasing by 0.3 percent in November.

Energy prices came in unchanged during the month of December after surging up by 4.6 percent in the previous month. Excluding food and energy prices, core producer prices still dipped by 0.1 percent in December following a 0.3 percent increase in November.

Stephen K. Bannon Steps Down from Breitbart News Network

Stephen K. Bannon has stepped down from Breitbart News Network, where he served as Executive Chairman since 2012

Bannon and Breitbart will work together on a smooth and orderly transition. Bannon said, “I’m proud of what the Breitbart team has accomplished in so short a period of time in building out a world-class news platform.” According to Breitbart CEO Larry Solov, “Steve is a valued part of our legacy, and we will always be grateful for his contributions, and what he has helped us to accomplish.” Nick Note: Bannon obviously new what he was doing coming clean on Trump. Obviously he felt he had to to it. Of course the spin is different. Think about it! He spoke truth and he will pay the price.

Proposal for “risky” bitcoin-based ETFs withdrawn

Direxion Asset Management withdrew its request to launch five bitcoin-based exchange-traded funds Monday in a filing with the Securities and Exchange Commission after regulators voiced their concerns. The filing cited a call with the SEC last week in which “the Staff expressed concerns regarding the liquidity and valuation of the underlying instruments in which the Fund intends to primarily invest and requested that the Trust withdraw the Amendment until such time as these concerns are resolved.” Four of the proposed funds would have been risky derivatives-based leveraged funds, leading one Wall Street analyst to tell CNBC that it “would be insane for them to actually approve this.” Nick Note: I am distraught in fact i am in morning. I had the profits we could have made spent already….. Be patient we will soon enough get the tools we need to coin money

Oprah sparks talk of White House bid with Golden Globes speech

Oprah sparks talk of White House bid with Golden Globes speech
© Getty Images

Oprah Winfrey sparked speculation of a potential 2020 run for president after delivering a moving speech at the Golden Globes Sunday evening as she accepted a lifetime achievement award. Donning black like many other celebrities to make a statement about sexual harassment, Winfrey paid homage to the press and to victims of sexual abuse as she accepted the Cecil B. DeMille Award for lifetime achievement. “I want all the girls watching here and now to know that a new day is on the horizon.” Winfrey said. “And when that new day finally dawns, it will be because of a lot of magnificent women, many of whom are right here in this room tonight, and some pretty phenomenal men fighting hard to make sure that they become the leaders who take us to the time when nobody ever has to say, ‘me too’ again.” Winfrey in an interview after the show denied that she is preparing to run for president, but the speculation had already begun, and the talk-show host’s first name was trending in the nation’s capital Monday morning. But Stedman Graham, Winfrey’s partner for the last several decades, told The Los Angeles Times that a run for the Oval Office could happen.“It’s up to the people,” Graham said. “She would absolutely do it.”

Winfrey’s speech quickly garnered praise on Twitter, with some users using the #Oprah2020 hashtag.

 

Even NBC’s main Twitter account lauded Winfrey, referring to her as “OUR future president.”

Saudi Fighter jet ‘shot down by rebels’ in Yemen

A SAUDI warplane has crashed in Yemen, with Houthi rebels claiming they shot it down.
A Saudi warplane, thought to be a Tornado, has crashed The aircraft, believed to be a British-made Tornado, crashed in Saada province this afternoon.
Houthi armed rebels too TV channel al-Massirah they had shot the plane out of the sky. But Saudi state news agency SPA reported the fighter jet had suffered a “technical fault” while conducting military operations. The Saudis said a special operation was carried out to evacuate the two pilots, who managed to survive the crash. A spokesman for the joint coalition forces said: “The Arab Coalition Forces Command implemented a private joint operation to evacuate two pilots in participation of air and land forces where the two pilots were evacuated into the Kingdom’s territories.” If the Houthi claims are true it would be another escalation in the ongoing conflict between the two sides. Nick Note: Yemen is fighting the Iranian proxy war against the Saudi Kingdom. it is obvious that Iran is supply sophisticated weapons. Shooting down a Tornado is no small feet. It takes a SAM missile to do this. And the only way a radar guided missile of this magnitude arrives in Yemen is because the Iranians put it their and launched it! And don’t forget the TWO Iranian made  Guided Missiles that have been  recently fired deep into Saudi Territory.

 

Bitcoin is HERE to STAY and People who Control Your Money Are SCARED SHIT

Mark Zuckerberg, founder and CEO of Facebook
Bloomberg | Getty Images Mark Zuckerberg, founder and CEO of Facebook

Facebook CEO Mark Zuckerberg says Facebook will be looking into cryptocurrency in the new year.

“There are important counter-trends to this — encryption and cryptocurrency — that take power from centralized systems and put it back into people’s hands,” Zuckerberg wrote in his 2018 mission statement, issued on Thursday. “

But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

Nick Note: Central Banker, Investment Banks and Billionaires that control our money are scared to death of Bitcoin .. as they well should be.  They control money to the determent of the masses and enrich themselves in the process. Bitcoin COULD bring money power back to the people where it belongs. Listen to them scream like raped apes. Please recall the people below bought you the 2007 melt down and required a 10 trillion dollar bailout which is still o the books of the Federal Reserve

Jamie Dimon: Bitcoin is a ‘fraud’

The cryptocurrency “is a fraud,” JPMorgan Chase CEO Jamie Dimon said at the Delivering Alpha conference presented by CNBC and Institutional Investor. “It’s just not a real thing, eventually it will be closed.” He added, at a separate conference organized by Barclay, “It’s worse than tulip bulbs. It won’t end well.”

Jamie Dimon: Governments look at bitcoin as a novelty

Jamie Dimon: Governments look at bitcoin as a novelty

Michael Novogratz: Cryptocurrencies like bitcoin are ‘going to be the biggest bubble of our lifetimes’

“I think this [crypto] is going to be the biggest bubble of our lifetimes by a long shot,” the former Fortress hedge fund manager said at a CoinDesk bitcoin conference. “To be fair, this is a bubble and there’s a lot of fraud mixed in. We look at tons of projects. And some get funded, and they literally look like Ponzi’s. There’s a lot of froth and fraud in something that’s exciting as this.” Novogratz’s remarks came right after he gave an aggressive projection for bitcoin: It “could be at $40,000 at the end of 2018. It easily could,” he said on CNBC’s “Fast Money.” And he saw big things for other cryptocurrencies too: “Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well.”

Bitcoin will be

Bitcoin will be “the biggest bubble of our lifetimes,” says hedge fund manager

Mark Cuban: Only invest if you’re prepared to lose your money

According to billionaire Mark Cuban, it’s OK to invest up to 10 percent of your savings in high-risk investments, including bitcoin and ethereum. You’ve just “got to pretend you’ve already lost your money,” he told Vanity Fair, adding that it’s like throwing “the Hail Mary.”

Jim Cramer: Bitcoin is like ‘Monopoly money’

Bitcoin is a pure gamble, said CNBC’s Jim Cramer on “Squawk Box”: “It’s kind of like Monopoly money. Obviously, there’s people who use it. If you ever say anything bad about it, there’s like this bitcoin mafia that comes after you. But it is an oddity that has nothing to do with us” as investors. “It’s just pure gambling at this point,” the market expert continued. “I mean, if you want to gamble, go to Vegas. Vegas is fabulous.”

Jim Cramer says Bitcoin is like ‘Monopoly money’

Howard Marks: It’s a ‘pyramid scheme’

“In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it,” the respected value investor and co-chairman of Oaktree Capital wrote in an investor letter.

Billionaire investor Howard Marks says bitcoin is a 'pyramid scheme'

Billionaire investor Howard Marks says bitcoin is a ‘pyramid scheme’

Tony Robbins: Investing in bitcoin is ‘like going to Vegas’

The self-made millionaire and best-selling author of “Money: Master the Game” isn’t completely sold on the idea yet either. “I think [bitcoin] is very iffy,” Robbins told CNBC’s “Fast Money. “I don’t have a clue. I look at that as it’s like going to Vegas.” In other words, only bet what you can afford to lose. Robbins himself directs a certain amount of money to risky ventures and doesn’t rely on them to work out. For those investments, his mentality is, “I know it is just for fun I’m investing, I know I could lose, this is Vegas.”

Tony Robbins shares the mindset you need to invest in bitcoin

Tony Robbins shares the mindset you need to invest in bitcoin

Jack Bogle: Avoid it ‘like the plague’

Legendary investor and index fund revolutionary Jack Bogle isn’t impressed. He weighed in on the subject at a Council on Foreign Relations event. “Avoid bitcoin like the plague. Did I make myself clear?” said the Vanguard founder in response to an audience question. “Bitcoin has no underlying rate of return,” Bogle continued. “You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing. There is nothing to support bitcoin except the hope that you will sell it to someone for more than you paid for it.”

Nick Bit: Don’t let them scare you off. YES HELL YES Bitcoin is volatile…… SO! Yes fortunes will be made and lost… Bring it on! The fact that Bitcoin could change how we view and use money is a blessing not a curse. I want to remind you that Volatility is the hall mark of ALL disruptive technologies. From the discovery of the New world, To the Steam ship, To Railroads tying the east and west coast together, To electricity, to the telephone, Automobile, the Airplane, Nuclear weapons to the internet…… ALL bought extreme volatility and fortunes were made and lost… Thats how the world works. Embrace change, understand it and yes stake you claim to it…

AND DON’T LISTEN TO ASSHOLES TRYING TO PROTECT THEIR BUGGY WHIP FRANCHISE

Trump book author: Trump trying to stop my book is ‘proving the point of the book’

The author of a bombshell book about the Trump administration says Trump’s attempt to stop his book’s publication is “proving the point of the book.”

Michael Wolff, the author of “Fire and Fury: Inside the Trump White House,” said on the “Today Show” Friday that Trump’s attempt to block the book was “extraordinary.” “Not only is he helping me sell books, he is helping me to prove the point of the book,” Wolff said. “This is extraordinary, that the president of the United States would try to stop the publication of a book.” He said such a move “has not happened from other presidents, would not even happen from a CEO of a mid-sized company.” “Where do I send the box of chocolates?” Wolff added.

Trump’s lawyers reportedly sent a cease-and-desist letter to Wolff’s publisher, Holt & Company, to try and block the book’s publication.

The publisher then moved the book’s publication date up by four days over high demand. The White House has publicly attacked the book as “sad” and “pathetic.” Trump also slammed the book in a tweet Thursday night.

Global debt level hits $233 trillion record high in Q3 2017:IIF

China's debt load is worrying investors and observers.

China’s debt load is worrying investors and observers. Global debt levels soared to a record high of $233 trillion in the third quarter of 2017, the Institute of International Finance (IIF) said on Thursday, though it noted that robust economic growth meant debt-to-GDP ratios were declining.

The Washington DC-based financial industry body said while total debt had risen by $16 trillion in the third quarter compared to end-2016, debt ratio to global gross domestic product (GDP) had fallen for the fourth quarter in a row as the world economy expanded.It was referring to total debt incurred by the household, government, financial and non-financial corporate sectors. However, China which has accounted for the lion’s share of new debt in emerging markets, saw the pace of debt accumulation slow; debt rose by two percentage points last year to 294 percent of GDP, compared to an average annual increase of 17 percentage points in the 2012-2016 period.

The IIF warned however, of “heavy emerging market redemptions” noting that over $1.5 trillion of bonds and syndicated loans would be maturing through end-2018. China, Russia, Korea and Brazil had heavy dollar-debt repayment schedule this year, it added.

Nick Note: 2018 will be the year of a great debt default and stock market wipe out…. We have been here before. It will be far far worse this time.

‘Fire and Fury’ Author Wolff Has ‘Dozens of Hours’ of Tape Recordings Confirming Quotes in Book

Mike Allen writes at Axios that Michael Wolff, author of Fire and Fury: Inside the Trump White House, has “dozens of hours” of recordings to corroborate the controversial quotes attributed to senior White House personnel in the new book — including former White House Chief Strategist and Breitbart executive chairman Stephen K. Bannon.

“Michael Wolff has tapes to back up quotes in his incendiary book — dozens of hours of them,” Allen reports. “Among the sources he taped, I’m told, are Steve Bannon and former White House deputy chief of staff Katie Walsh.” Soon after the Axios report dropped Thursday morning, White House Press Secretary Sarah Huckabee Sanders announced a ban on personal cell phones inside the White House — “for both guests and staff.”

Wolff wrote in The Hollywood Reporter that he collected the material for his book as a “fly on the wall” over 18 months. Allen says that the White House concedes that Wolff received access to the building less than 20 times since Trump’s inauguration. Nick Note: READ THE DAMN BOOK! And learn about the man that sits in the oval office. This is not fake news…. Not deep state conspiracy…. These are  documented facts

Trump takes credit for dialogue between North and South Korea, says ‘talks are a good thing’

President Donald Trump at a national security strategy event on December 18, 2017 in Washington, D.C.
Bloomberg | Getty Images President Donald Trump at a national security strategy event on December 18, 2017 in Washington, D.C.

U.S. President Donald Trump claimed Thursday that talks between North and South Korea likely would not have occurred without his administration’s tough rhetoric against Pyongyang. Lambasting “failed ‘experts'” discussing the matter as “fools”, Trump questioned whether the two polarized nations would have engaged in conversation had he not been “firm, strong and willing to commit our total ‘might’ against the North.” The president also welcomed the development as a “good thing.” North Korea reopened its cross-border communications channel with South Korea for the first time in almost two years Wednesday. The move signaled a vital diplomatic breakthrough as geopolitical tension has risen over North Korea’s nuclear capability. Trump ignited concern on Tuesday when he said that the U.S. had a “much bigger” and “more powerful” nuclear “button” than North Korean leader Kim Jong Un. The president said that he believed sanctions were “beginning to have a big impact” on the country. The U.S. and its allies have placed increasing economic pressure on North Korea to inhibit its development of nuclear and missile development. Nick Note: I am confused st it the bigger button or the fastest runner.

E*Trade begins CME bitcoin trading

Jan. 3, 2018 2:55 AM ET|By: Yoel Minkoff, SA News Editor

Shortly after allowing customers to trade bitcoin futures from CBOE Global Markets, E*Trade (NASDAQ:ETFC) has now opened trading in CME bitcoin futures, according to its website.

Futures exchanges CBOE and CME began offering bitcoin futures in mid-December after last year’s wild run-up in the price of the underlying cryptocurrency.

Egypt’s Grand Mufti endorses Bitcoin trading ban

Image copyright AFP/Getty Images Image caption The crypto-currency lost over 25% of its value in a week

Egypt’s top imam has endorsed a ban on trading in Bitcoin by declaring it “forbidden” by Islam. Sheikh Shawki Allam, the Grand Mutfi, said the digital crypto-currency carried risks of “fraudulence, lack of knowledge, and cheating”. Bitcoin began last year below $1,000 (£737) but reached nearly $20,000 before the end of the year. Then it lost more than 25% of its value inside a week, sparking warnings of a dangerous bubble. The Grand Mufti said risks could arise because the virtual currency was not subject to surveillance by any centralised authority.

“Bitcoin is forbidden in Sharia as it causes harm to individuals, groups and institutions,” the fatwa said, as reported by Egyptian daily Ahram

In August 2017, Egypt’s first bitcoin exchange was opened. The crypto-currency was declared illegitimate by the authorities last month. An adviser to the Grand Mufti, Magdy Ashour, told Egypt Today that Bitcoin was “used directly to fund terrorists”. Last month, a New York-based woman was charged with laundering Bitcoin and other crypto-currencies and wiring the money to help so-called Islamic State. Nick Note: The grand Muckatie Muck in a long rope declared Bitcoin illegal under Sheri law. It makes me want to own more and more Bitcoin

Iran state TV: 12 killed in protests, attacks on security

TEHRAN, Iran (AP) — At least 12 people have been killed in the ongoing protests in Iran, and armed protesters have tried to take over police stations and military bases, state TV reported Monday. The protests began Thursday in Mashhad over economic issues and have since expanded to several cities, with some protesters chanting against the government and the supreme leader, Ayatollah Ali Khamenei. Hundreds of people have been arrested. The state TV report said 10 were killed during clashes Sunday night, without elaborating. Two demonstrators were killed during a protest in western Iran late Saturday. “Some armed protesters tried to take over some police stations and military bases but faced serious resistance from security forces,” state TV reported. It did not say where those attacks occurred. State TV aired images of burning buildings, as well as an ambulance crew trying to aid a wounded person amid a crowd of shouting people. It also showed a fire truck that appeared to have been attacked and burned. Later Monday, state TV said six people were killed in the western town of Tuyserkan, 295 kilometers (185 miles) southwest of Tehran. It said three others were killed in the town of Shahinshahr, 315 kilometers (195 miles) south of Tehran. It did not say where the 10th person was killed. On Sunday, Iran blocked access to Instagram and the popular messaging app Telegram used by activists to organize. President Hassan Rouhani acknowledged the public’s anger over the Islamic Republic’s flagging economy, though he and others warned that the government wouldn’t hesitate to crack down on those it considers lawbreakers. That was echoed Monday by Iranian judiciary chief Ayatollah Sadegh Larijani, who urged authorities to strongly confront rioters, state TV reported.“I demand all prosecutors across the country to get involved and approach should be strong,” he said. Nick Note: this is a small brush fire. In the coming days and weeks the flame of freedom MIGHT grow. This could be like Egypt where the masses rose up and said hell no to the religious fanatics. One can hope…. if the Iranian people want to be free they got to fight and die for it. Freedom is purchased with the currency of blood

taly’s Berlusconi says election fight pits his group against 5-Star

ROME (Reuters) – Italy’s election in March pits the centre-right group against the anti-establishment 5-Star Movement because the ruling left-wing party lags in polls under the country’s third prime minister since the last election, centre-right leader Silvio Berlusconi said on Friday.Polls suggest no one will win an outright victory but an alliance around Berlusconi’s Forza Italia (Go Italy!) looks set to take the highest number of seats.  On Thursday, the government of Prime Minister Paolo Gentiloni set March 4 as the date for a vote expected to produce a hung parliament, instability and possible market turbulence in the euro zone’s third-largest economy.Immigration is also set to be a central issue, with right-wing parties warning of an “invasion”. The centre-right also wants a parallel currency, while 5-Star says it will call a referendum on euro membership if EU partners refuse to budge on the Fiscal Compact. Nick Note: this is a very simple election. Italians are tired of the EU mandate that they are suppose to be the African refugee center. This moves another country closer to leaving the European Union

FBI Russia probe helped by Australian diplomat tip-off

 OPEN YOUR EYES: TRUMP COLLUDED WITH THE RUSSIANS.  HEAR IT FOR YOURSELF!!!

WASHINGTON (Reuters) – Trump campaign adviser George Papadopoulos told an Australian diplomat in May 2016 that Russia had political dirt on Democratic presidential candidate Hillary Clinton, the New York Times reported on Saturday. The conversation between Papadopoulos and the diplomat, Alexander Downer, in London was a driving factor behind the FBI’s decision to open a counter-intelligence investigation of Moscow’s contacts with the Trump campaign, the Times reported. Two months after the meeting, Australian officials passed the information that came from Papadopoulos to their American counterparts when leaked Democratic emails began appearing online, according to the newspaper, which cited four current and former U.S. and foreign officials.Besides the information from the Australians, the probe by the Federal Bureau of Investigation was also propelled by intelligence from other friendly governments, including the British and Dutch, the Times said. Nick Note: this is called game, set match… and is not a smoking gun but a smoking cannon. Prepare yourself for the economic collapse of the stock market bubble. And the Dagger that pops the bubble is Trumps collisions and COVER UP of Russian swing the election in his favor by obtaining and releasing Hilllarie’s emails….. Don’t be stupid.. make a fortune I’ll show you how.

Iranian hard-liners rally amid new protests challenging government

TEHRAN, Iran — Iranian hard-liners rallied Saturday to support the country’s supreme leader and clerically overseen government as spontaneous protests sparked by anger over the country’s ailing economy roiled major cities in the Islamic Republic. The demonstrations, commemorating a mass 2009 pro-government rally challenging those who rejected the re-election of hard-line President Mahmoud Ahmadinejad amid fraud allegations, had been scheduled weeks earlier. However, they took on new importance after the economic protests began Thursday, sparked by social media posts and a surge in prices of basic food supplies, like eggs and poultry. Since then, thousands have gone into the streets of several cities in Iran, beginning first in Mashhad, the country’s second-largest city and a holy site for Shiite pilgrims

China puts US$15,000 annual personal cap on overseas bank card withdrawals

New limits on the amount of money people can withdraw from their Chinese bank accounts while overseas will come into effect on Monday, in the latest move by Beijing to tighten its capital account controls and curb money outflows. Under the new rules individuals will be allowed to withdraw a maximum of 100,000 yuan (US$15,000) a year, regardless of how many separate bank accounts or ATM cards they have. The current cap on daily withdrawals remains unchanged at 10,000 yuan per card, the State Administration of Foreign Exchange said in a statement released on Saturday. Under the current rules, there is an annual ATM withdrawal cap of 100,000 yuan per bank card, but there are no rules to stop people having multiple cards attached to a single account or multiple accounts with different banks. People will still be allowed to hold multiple ATM cards but the annual limit will apply to the combined value of all withdrawals. Nick Note: The Chinese are using their secret Bitcoin account to the tune of millions. How long before they get around to YOU?

Donald Trump: I Have ‘Absolute Right’ To Do What I Want With DOJ

Trump gave an extensive, impromptu interview with the New York Times in which he denied collusion with Russia 16 times and claimed he has the “absolute right” to do what he wants with the Justice
Nick Note: This interview should scare the shit out of anyone who loves America and Understands our constitution. It is a ominous warning of what Trump may do as the Muller investigation zeroes in on the president

Goldman taking $5 billion hit in Q4 earnings from new tax law

Financial professionals sit in the Goldman Sachs booth on the floor of the New York Stock Exchange.
Getty Images Financial professionals sit in the Goldman Sachs booth on the floor of the New York Stock Exchange

Goldman Sachs said on Friday it expects fourth-quarter earnings to decrease by about $5 billion due to the new U.S. tax law signed by President Donald Trump last week. Around two-thirds of the $5 billion decrease is due to repatriation tax, Goldman said in a statement with the U.S. Securities and Exchange Commission. However, the impact of the tax legislation may differ from the estimate, according to the bank.  Congress last week approved a U.S. tax overhaul, the biggest in 30 years, which includes steep tax cuts for corporations and wealthy taxpayers.

The new law significantly lowers the income tax rate for U.S. companies—to 21 percent from 35 percent—allowing them to repatriate cash from overseas, and modifies numerous deductions, among other changes. The tax overhaul will allow Apple to bring back its $252.3 billion foreign cash pile without a major tax hit—a long-standing company goal. Drugmaker Amgen last Friday also said it expects to incur tax expenses of $6 billion to $6.5 billion over time as it repatriates cash it has accumulated around the world because of the new law. Nick Note: I thought this was suppose to give them more money HA HA HA HA to give all the worker bees a bonus…HA AH HA HAH AH…. And create more JOBS JOBS JOBS JOBS… guess NOT!

US apartment vacancy rate rises in fourth quarter

Rent apartment, landlord
Drew Angerer | Getty Images

The U.S. apartment vacancy rate increased marginally in the fourth quarter from the third as supply exceeded demand, according to a report from Reis. The national apartment vacancy rate rose to 4.5 percent from 4.4 percent, the real estate research firm said. Vacancy rates increased in 50 of 79 metros, with New York City and Washington, DC hitting their highest-ever rates of 5.1 percent and 6.6 percent, respectively, the report said. Reis said it expects vacancies to rise in 2018 before tapering off in 2019 as projects slated for completion will continue at least over the next 12 months. Construction fell to 43,769 units in the fourth quarter from 60,890 units in the preceding quarter, with net absorption falling to 31,554 units from 48,545 units, the report said. Nick Note: yes they built to mu h even in this slowing construction market. Besides if the kids can’t afford an apartment and live in the basement that increases supply, reduces demand and rental amounts.

Bitcoin drops 11% as South Korea moves to regulate cryptocurrency trading

A visual representation of the digital Cryptocurrency, Bitcoin on October 24, 2017 in London, England.
Dan Kitwood | Getty Images A visual representation of the digital Cryptocurrency

Bitcoin fell early Thursday, marking the latest gyration following a major sell-off at the end of last week. The cryptocurrency fell as low as $13,672.16 on Thursday — an 11 percent decline compared with the beginning of the day, according to leading industry site CoinDesk. At 3:42 p.m. HK/SIN, bitcoin had ascended back to $14,233.60. That remained above the low of $10,400 it hit last Friday amid a session of highly volatile trading. There had been no immediately apparent explanation behind that fall. The latest moves came as the South Korean government announced it would implementing new rules in a bid to regulate trade in the digital currency in the country. South Korea is a major hub for bitcoin. Those new regulations would include prohibiting anonymous trading accounts and could give authorities the ability to shut down exchanges, Reuters said. Earlier on Thursday, the head of the country’s financial regulation agency told reporters that the “bubble in bitcoin will burst later,” local news agency Yonhap reported.Still, not everyone is spooked by the tougher rules.

Cedric Jeanson, CEO of trader BitSpread, told CNBC’s “Squawk Box” on Thursday that he believed the move was “quite positive” and “normal” for regulators. Nick Note: this is reasonable regulation which we all know is coming. Perfect we are legitimizing Bitcoin gains its rightful place as the worlds universal digital currency

Americans are spending more and saving less

The Department of Commerce late last week reported that personal income rose only 0.3 percent in November, while personal spending jumped by 0.6 percent. Both numbers were higher than expected.

Not surprisingly, the personal savings rate in the US declined — it had to — to just 2.9 percent from 3.2 percent. That was the lowest since November 2007, which was the start of bad times in this country.

Also not surprising is the fact that credit card use is surging. The US economy has been growing at an annual rate of around 3 percent for the past few quarters. That probably won’t hold up if the spending/savings numbers continue the way they have been. We will soon get to see what effect President Trump’s tax cuts will have on the economy. Nick Note: its conclusive people are not making any more money. they are going into debt and depleting their savings to buy Chinese plastic dog shit…. This will not end well!

U.S. retail sales rise at best pace since 2011 over holiday period

Reuters Christmas shopping in lower Manhattan in New York City, U.S.

Retailers are enjoying some extra Christmas cheer. Fueled by high consumer confidence and a robust job market, U.S. retail sales in the holiday period rose at their best pace since 2011, according to Mastercard SpendingPulse, which tracks both online and in-store spending.

Sales, excluding automobiles, rose 4.9% from Nov. 1 through Christmas Eve, compared with a 3.7% gain in the same period last year, according to the Mastercard Inc. unit, which tracks all forms of payment. E-commerce continued to drive the gains, rising 18.1%. “It started with a bang in the week leading up to Black Friday,” said Sarah Quinlan, a senior vice president of marketing insights at Mastercard. She added that retailers benefited this year from Christmas Day falling on a Monday, giving shoppers a full weekend to scoop up last-minute purchases. Dec. 23 ranked next to Black Friday in terms of spending, according to Mastercard. Nick Note: they have proven you can give away the goods and boost gross. Problem is they have shrunk the bottom line. One of the least  PROFITABLE Christmases ever….. Thats OK financial engineering will take care of that little problem… get ready for about a zillion footnotes on Retailers P&L’s

 

Tax cuts not a boost for economy, in one chart

Since the economic recovery began in 2009, GDP growth has averaged 2.1% This chart illustrates how slim even that short-term bounce is likely to be, however.

Will the economy benefit “bigly” from the tax cuts that President Donald Trump just signed into law?

No, several economists say. Forecasts collected by MarketWatch (see the chart) of the extra “juice” delivered by the tax overhaul range from a 0.15% to 0.4% bump to 2018 GDP.

No economist surveyed thinks 2018 growth will even reach 3.0% — a far cry from the 5% pace Trump promised on the campaign trail. American consumers, the backbone of the economy, don’t think the tax bill will help them, either. That’s sending consumer sentiment down and may even stifle economic growth in coming months. Nick Note: After the sugar high US economic growth will return to trend of 2.1%  When the stock market crash comes growth will turn negative for a decade or more.

Bitcoin: Likely Headed To $50,000 And Then A Lot Higher

Bitcoin resumed its gains over the weekend as the digital asset broke out to new highs. BTC decisively broke above the $19,500 – $20,000 level, and then fell back as Future trading kicked in.  At the time of writing this article Bitcoin at CoinBase was trading back at at $18,000. As Bitcoin streamlines towards $20,000 it is becoming increasingly likely that due to numerous fundamental developments coupled with a favorable technical setup the digital currency could go significantly higher in this leg of the rally. Moreover, there appears to be an abundance of evidence that implies BTC’s price should continue to balloon going forward, as Bitcoin gradually realizes its full market share potential, and grows into its role as a leading digital global currency and a worldwide store of value. The latest price action in BTC appears very bullish, as the digital currency successfully broke above prior resistance levels. The rally should continue to sustain itself over the short and intermediate term, as there are various fundamental and technical elements that seem favorable to Bitcoin’s price. Some of the most prominent underlying elements that are likely to propel prices higher in the short and intermediate term include low institutional ownership, improved perception due to the start of futures trading, low overall participation rate amoung the global masses, rising sentiment, as well as other underlying developments. Nick Note: Take advantage of this pullback to buy BITCOIN and the shares of stocks we are recommending. You missed Microsoft, Intel, Cisco  and Dell to name a few. We can find the Bitcoin winners here.. And yes their will be losers. But if you listen to me and diversify the millions dollar winners will more then make up for the few thousands we will lose in the ones that don’t make it! Don’t make the same mistake again. Bitcoin and crypto currencies are bigger….. Stake your claim NOW!

Chicago Fed economic index cools from October’s reading

Slower factory production tugged the index lower, though less-volatile 3-month average remains strong

Bloomberg

A measure of national economic activity calculated at the Chicago Federal Reserve eased in November after an October surge, but leaves the less-volatile three-month average on a positive trajectory. The Chicago Fed’s index of national economic activity cooled to a positive 0.15 last month from an upwardly revised positive 0.76 in October, the central bank branch reported Thursday. October’s reading was the highest for the volatile index since positive 0.94 in December 2006.

The index’s less-volatile, three-month moving average improved to positive 0.41 in November from a positive 0.31 in October. The Chicago Fed index is a weighted average of 85 economic indicators, designed so that zero represents trend growth and a three-month average below negative 0.70 suggests a recession has begun. Forty-two of the 85 individual indicators made positive contributions to the CFNAI in November, while 43 made negative contributions. The biggest drag on the index last month was a smaller contribution from the factory sector. Other Fed data had already shown that industrial production increased a smaller 0.2% percent in November after moving up 1.2% in October. A flurry of economic data out Thursday morning included a slight downward revision in the pace of third-quarter U.S. economic growth to an annual pace of 3.2% from a previous estimate of 3.3%. Separately, weekly data from the Labor Department showed the number of first-time jobless claims rose 20,000 to 245,000, the largest increase since early September. And the Philadelphia-area index showed factory activity picking up in December.

Trader makes million-dollar bet that bitcoin will triple next year

Pierre Teyssot | AFP | Getty Images A Bitcoin crypto-currency shop in Rovereto, Italy.

Someone just bet that bitcoin will top $50,000 next year. Online records from New York-based digital currency-trading platform LedgerX showed 275 call options expiring Dec. 28, 2018, were bought in Wednesday’s trading session at a volume-weighted average price of $3,600. At that price, roughly $1 million was spent on the bet. The trade gives the investor or investors the option to buy bitcoin at $50,000 in the roughly next 12 months, implying expectations that the digital currency will soar beyond that price. An investor would lose the bet if bitcoin doesn’t reach $50,000 in that time period, but would reap profits if it climbs well above that level. With bitcoin trading near $16,700 Thursday, that means the call options trader or traders expect the digital currency to soar more than 200 percent in the coming 12 months. Bitcoin is up about 1,900 percent over the last 12 months, according to Startup LedgerX is less than five years old and launched bitcoin options trading for institutional clients in October. Nick Note: this is a smart trade if right the profits would be $10,000,000 odds are in his favor.

Cost of global disasters ‘jumps to $306bn in 2017’

Disasters in 2017 caused losses of $306bn (£229bn), according to estimates from insurance giant Swiss Re.

The figure represents a 63% jump from last year, and is well above the average of the past decade. The Americas was hardest hit, with hurricanes in the Caribbean and southern US, earthquakes in Mexico and wildfires in California. Despite the rise in the financial cost of disasters, there was no significant increase in the loss of lives. Swiss Re said more than 11,000 people died or went missing in disaster events in 2017, which is similar to 2016’s figure. A report by the firm’s research arm Sigma found insured losses amounted to $136bn (£102bn) – more than double last year’s total and the third highest on record. Hurricanes Harvey, Irma and Maria together caused insured losses of about $93bn (£70bn) according to the the report. But Swiss Re said the insurance industry had demonstrated that it could cope very well with such high losses, despite gaps in protection remaining. “If the industry is able to extend its reach, many more people and businesses can become better equipped to withstand the fallout from disaster events”, said Martin Bertogg, head of catastrophe perils at Swiss Re. Nick Note: please note this is insured damages.  The real cost is over a trillion dollars. AND officiate and delay is the bank and insurance company order of the day. The foreclosures alone will not START to hit until March. And the insurance companies are holding back payments….

Walmart is planning a store without cashiers

Photo: James Leynse / Getty

Walmart’s NYC-based innovation center is experimenting with a cashier-less store concept called Project Kepler, which “aims to reimagine the in-store shopping experience with the help of technologies like computer vision,” Recode reports.

  • Project Kepler is in part aimed at creating a store that would feature no checkout lines or cashiers, but use computer vision to detect which products customers leave the store with and then charge their accounts accordingly.
Why it matters: Amazon is also experimenting without cashiers, while roughly 3.5 million Americans operate cash registers for a living. Recode also reports that Walmart’s new start-up subsidiary, called Code 8, is experimenting with “high personalised, one-to-one shopping experiences,” that will be marketed to “busy NYC moms.”Nick Note: Cashiers will SOON be a thing of the past. as wil be millions of other repetitive jobs… like drivers, cleaners, pickers, cooks  and greeters……

More than 200,000 Puerto Ricans fled to Florida. Their housing aid could soon run out

Wall Street at fresh record highs with tax revamp in sight

NEW YORK (Reuters) – Wall Street closed at record highs amid sustained optimism about the likelihood of lower corporate tax rates as the Republican tax bill moved closer to passage. The Dow Jones Industrial Average .DJI rose 140.46 points, or 0.57 percent, to 24,792.2, the S&P 500 .SPX gained 14.35 points, or 0.54 percent, to 2,690.16 and the Nasdaq Composite .IXIC added 58.18 points, or 0.84 percent, to 6,994.76.The three indexes set record closing highs, as did the small-cap Russell 2000 index , up 1.21 percent to end at 1,548.93.Nick Note this is the bubble top blow off. This will soon end in the biggest stock market wipe out evrr…… You have been warned…. this party i just about to be over. and it will be raided and they will all be arrested for possession and use of hallucinogenic drugs!

Corker Wants Answer About Real-Estate Provision in Tax Bill

Image: Corker Wants Answer About Real-Estate Provision in Tax Bill
Sen. Bob Corker (Getty Images)

Sen. Bob Corker, R-Tenn., wrote a letter to Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee, asking how a certain real estate provision ended up in the final tax-reform bill before Congress, The Hill reported Sunday.The provision could benefit real estate moguls, including Corker, by allowing owners of income-producing properties to take advantage of a 20 percent deduction for “pass-through” entities. The version passed by the Senate allowed for deductions, but only by businesses that paid employees a significant wage, the article explained.  “Because this issue has raised concerns, I would ask that you provide an explanation of the evolution of this provision and how it made it into the final conference report,” Corker wrote. Corker said Friday he would support the final version of the tax-reform legislation, calling it a “once-in-a-generation opportunity.” Nick Note: This is know as the Trump and Family tax Break For Billionaire…. Making their effective tax rate 20%. So much for Trump Bullshit that his taxes will go up.

Mnuchin: I can’t rule out a government shutdown ‘two days before Christmas’

Mnuchin: I can’t rule out a government shutdown 'two days before Christmas'
© Greg Nash

Treasury Secretary Steven Mnuchin on Sunday said he cannot imagine a government shutdown taking place days before the Christmas holiday if Congress cannot strike a deal on a spending bill, adding that he also cannot rule out the possibility. “I can’t rule it out, but I can’t imagine it occurring,” Mnuchin told host Chris Wallace on “Fox News Sunday.” The finance chief said if Congress cannot reach a deal by Friday, the deadline to pass a spending bill, then they would have to pass a “short-term extension” into January in order to gain time to come to an agreement.  Nick Note: this is NOT how to govern or run a economy. I feel this is more dramatics then anything else. One of these days the Trumps administration love of the headlines and shock will blow up in their faces. Running America like a reality TV show is a BIG mistake!!

New York Manufacturing Index Falls More Than Expected In December

Growth in New York manufacturing activity slowed by more than anticipated in the month of December, according to a report released by the Federal Reserve Bank of New York on Friday. The New York Fed said its general business conditions index dropped to 18.0 in December from 19.4 in November, although a positive reading still indicates growth in regional manufacturing activity. The index had been expected to dip to 18.6.

North Korea ‘hacked crypto-currency exchange in South’

South Korea’s spy agency believes that North Korea is behind hacking attacks on a crypto-currency exchange in the South, sources say. At least $7m (£5.25m) in digital money was stolen in the hacks – although the money is now said to have ballooned in value to $82.7m. The thieves also stole the personal information of some 30,000 people. They were trading the virtual currencies Bitcoin and Ethereum on the Bithumb crypto-currency exchange. Based on recent trading volumes, Bithumb is South Korea’s biggest and one of the five largest in the world. Analysts say North Korean hackers may have targeted crypto-currencies in order to evade the financial sanctions imposed as punishment for the North’s development of nuclear weapons. Nick Note: You got to learn Bitcoin. Their is a lot of money to be made in its coming meteoric rise and is death plunge with the ground……. PREPARE!

U.S. Industrial Production Rises Less Than Expected In November

Industrialproduction-US-121517-lt.jpg

After reporting a much bigger than expected increase in U.S. industrial production in the previous month, the Federal Reserve released a report on Friday showing that production rose by less than expected in the month of November. The Fed said industrial production edged up by 0.2 percent in November after jumping by an upwardly revised 1.2 percent in October. Economists had expected production to climb by 0.3 percent compared to the 0.9 percent increase originally reported for the previous month. The uptick in production came as mining output surged up by 2.0 percent in November after falling by 0.6 percent in October, as oil and gas extraction returned to normal levels after being held down in October by Hurricane Nate. However, the rebound in mining output was largely offset by a pullback in utilities output, which plunged by 1.9 percent in November after spiking by 2.0 percent in October. The Fed said total industrial production would have been unchanged in November excluding the post-hurricane rebound in oil and gas extraction.