Federal Reserve

This Time Is Different, It Just Ends The Same

"This time IS different" only from the standpoint that the variables are not exactly the same as they have been previously. Of course, they never are, and the result will be “…the same as it ever was.”

Key Events In The Coming Week: Jobs, Brexit, PMI, IP And More

The first full week of December is shaping up as rather busy, with such Tier 1 data in the US as the payrolls report, durable goods orders and trade balance. We also get UK PMI data and GDP, retail sales across the Euro Area, as well as central bank meetings including Australia RBA and BoC monetary policy meeting.

Frontrunning: December 4

  • Stock futures jump after Senate approves tax bill (Reuters)
  • Tax Bill Marked by Blinding Speed (WSJ)
  • Corporate Winners and Losers in the GOP Tax Bill (BBG)
  • Flynn’s Guilty Plea Sparks Clashing Interpretations (WSJ)
  • Irish border deal reported settled as May meets Juncker (Reuters)

Blow.Off.Top.

"...the prospect of tax cuts is the final carrot the free money scheme has to offer. The carrot top is here... there are no more carrots."

Global Stocks, US Futures Slide As Tax Bill Chaos Erupts In The Senate

Markets were thrown for a loop in the past 24 hours, with the Dow first soaring nearly 400 points on Thursday on expectations that tax reform was a done deal, when drama emerged just after the close when the Senate tax bill came this close to falling apart when the proposed "Trigger" was ruled as invalid, pushing a Thursday vote to this morning, and sending global stocks sliding over concerns of its passage.

Michael Hudson: America's Monetary Imperialism

"...the conflict between creditors and democracy, between oligarchy and economic growth (and indeed, survival) will remain the defining issue of our epoch over the next generation..."

Martin Armstrong Warns: 2018 Is The Year Of Earthquakes

"Based upon our model that monitors earthquakes due to their impact on the economy (1906 quake led to the Panic of 1907 and the formation to create the Federal Reserve in 1913), the risk for a major earthquake turns up in 2018."