The key economic releases this week are CPI, retail sales, and industrial production on Wednesday. In addition, there are several scheduled speaking engagements from Fed officials this week, including Chair Yellen’s semi-annual Monetary Policy Report to Congress on Tuesday and Wednesday (Humphrey-Hawkins).
"We're going to talk about all sorts of things we align on, like jobs and economic growth, opportunities for the middle class - the fact that millions of good jobs on both sides of our border depend on the smooth flow of goods and services across that border," Trudeau said.
"Governments love [the war on cash]. Then they can control you...we are not going to have as many freedoms as we have now ...get prepared because we're going to have the worst economic problems we've had in your lifetime or my lifetime and when that happens a lot of people are going to disappear."
Having filled up his administration to the brim with former Goldman staffers, to the point where even President Trump realizes there may be too many "Goldman Guys" on his team, Bloomberg reports that in an attempt to branch out, Donald Trump plans to nominate David Malpass, 60, the former Bear Stearns economist, as U.S. Treasury undersecretary for international affairs.
The majority of migrants at the meeting in Phoenix, which included Mexican officials, signaled in a show of hands that they were ready to fight deportation in U.S. courts. “Even if that means detention for weeks?” asked former foreign minister Jorge Castaneda. “Even if it takes months,” shouted one woman. “Even if it takes years,” another yelled. “We are here to fight."
In response to the launch of deportations of illegal aliens following Trump's executive order, influential Mexicans are pushing an aggressive - and risky - strategy to fight the increase in deportations of their undocumented peers in the U.S.: "jam U.S. immigration courts in hopes of causing the already overburdened system to break down", as the Mexican government warns citizens to "take precautions."
Rosa Ortega, a Mexican citizen, has been convicted of voter fraud and sentenced to 8 years in prison in Texas after inadvertently admitting to election officials that she had been voting in Dallas County for years.
Though the major point of conversation this week was about Trump’s threat to a state legislator, the bigger story should be the implicit support Trump gave to civil asset forfeiture, whether he realized it or not. And if you are not aware what civil asset forfeiture is, it is (surprisingly) something that is agreed by both sides of the aisle to be unjust and unconstitutional, and rightfully so.
"The important point to note here is the historical deviation between exuberance and economic realities has generally NOT been resolved by reality catching up with fantasy. It has always been the other way around."