Our quarterly survey of “Off the Grid” economic indicators finds that the U.S. economy is still growing, but the pace seems to be slowing from Q3 2015.
"The Roman Empire, a police state in its own right, had ordered that a census be conducted. Joseph and his pregnant wife Mary traveled to the little town of Bethlehem so that they could be counted. There being no room for the couple at any of the inns, they stayed in a stable, where Mary gave birth to a baby boy. That boy, Jesus, would grow up to undermine the political and religious establishment of his day and was eventually crucified as a warning to others not to challenge the powers-that-be." But what if Jesus, the revered preacher, teacher, radical and prophet, had been born 2,000 years later? How would Jesus’ life have been different had he be born and raised in the American police state?
At 23-years old, Pete Seeger was an Army Private anxiously awaiting the opportunity to be deployed to fight fascism in the midst of World War II, when he became outraged by injustice in his own backyard. As such, he wrote the following letter to the California chapter of the American Legion. For this thoughtful expression of his First Amendment rights, Pete Seeger ended up on an FBI watch-list; a place he would remain for the next thirty years. Following a Freedom of Information Act request, we now have access to his shocking 1,800 page file...
It has been a seesaw session with U.S. stock index futures following their dramatic buying burst in the last half hour of market trading yesterday by first rising, then falling, then rising again alongside European equities both driven almost tick for tick with even the smallest move in the carry trade of choice, the USDJPY, even as Asian shares trade near intraday highs after China’s leaders signaled they will take further steps to support growth.
"Most Liberal" US College Unleashes Demands For "Deconstructing The White Supremacist, Capitalist System"Submitted by Tyler Durden on 12/19/2015 21:55 -0500
The manifesto for the micro-aggressives has been unleashed on an unknowing "safe-space"-seeking, politically-corrected, American public. Students at no lesser liberalist college than Oberlin, Ohio, have released 14 pages of full social-justice-warrior-tard warning that they are "not polite requests, but concrete and unmalleable demands." If Oberlin doesn’t capitulate, the document warns of a “full and forceful response" which however remains entirely undefined.
“To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything.” ~Edward Abbey
- Oil heads for third straight weekly loss as supply weighs (Reuters)
- BOJ's $2.5 Billion ETF Boost Seen Having Little Impact on Stocks (BBG)
- Japan core CPI seen flat in November, household spending down (Reuters)
- Dollar gets altitude sickness as BOJ disappoints (Reuters)
- Fed Hikes, but Some Rates Veer Lower (WSJ)
- White House calls for 'common sense steps' to help Puerto Rico (Reuters)
The day has come when the boxed-in Fed has no choice: with the vast majority of the market expecting a rate hike, Yellen has to deliver or suffer a crushing confidence blow like no other. And deliver she will, with expectations that said hike will be "as dovish as possible." For now however, the market is desperate to convince itself that just as more easing and more QE were bullish for the market, so rate hikes are just as bullish. Recall from late 2013: "tapering is not tightening," then the 2015 version of this refrain is "tightening is not tightening."
Over the last two decades the Fed’s interventionism has created artificial booms and real busts. Their dreadful mistakes are “fixed” by currency debasement, lower interest rates, and money printing – creating even worse mistakes. They have successfully gutted the American economy and left a hollowed out shell. The coming collapse will be three pronged as stocks, bonds, and real estate are all simultaneously overvalued. Junk bonds are the canary in a coalmine. High end real estate in NYC has topped out. New and existing homes sales growth has stalled out. Retailers desperately slash prices to maintain sales, while destroying their profits. Corporate profits are falling. The stock market is teetering on the edge.
If anyone on this planet could be accused of tying Marissa Mayer's sexuality to her career, I think one need look no farther than the woman herself.
Earlier this morning we got another glimpse of reality behind the smoke-and-mirrors, mainstream-media-sponsored last-pillar-standing lovefest that is US auto sales when the business sales data showed a disheartening tumble in sales in October. So where are all the sales going that automakers report? The answer is simple... (and painful).
He got caught up in the future of energy, instead of focusing on maximizing profits and running the business in the here and now.
- Win or Lose, Trump Has Already Left His Mark on Republican Primary (BBG)
- S&P 500 Futures Rise With Miners; Oil Erases Gains, Euro Drops (BBG)
- U.S. top court divided over affirmative action in college admissions (Reuters)
- San Bernardino Shooter Said to Have Planned an Attack in 2012 (WSJ)
- Gun buyer and gunman linked through marriage, previous plot (AP)
Economists have put together models of how an economy works, but these models were developed years ago, when the world economy was far from limits. These models may have been reasonably adequate when they were developed, but there is increasing evidence that they don’t work in an economy that is reaching limits.
Google announced yesterday that Chicago and Los Angeles could be two of the next cities to receive their 1 Gbit/s Internet service.