"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."
As a result of an April 2014 decision by one of the controversial unelected, state-appointed emergency managers, Flint residents were exposed to dangerously high levels of lead via the city water supply. If found guilty, the officials face prison terms of up to 20 years and/or fines.
Is this a full-blown mutiny? Or did Democrats just reach the fifth stage of grief - "acceptance"? In a NYTimes op-ed, they begin by claiming that "President Obama will be remembered as a thoughtful and dignified president, but admit his legacy regrettably includes the more than 1,000 Democrats who lost their elections during his two terms. Republicans now have total control in half of America’s states...Why such political carnage?"
"Rapid home price appreciation and tepid wage growth have combined to erode home affordability during this housing recovery, and the recent uptick in mortgage rates only accelerated that trend in the fourth quarter,” said RealtyTrac's Daren Blomquist: "The prospect of further interest rate hikes in 2017 will likely cause further deterioration of home affordability next year."
Imagine the entire population of Peoria, Illinois’ seventh-largest city, all picking up and moving across state lines in one year, never to work, pay taxes or create jobs in Illinois again. That’s equivalent to what happened to Illinois over the past year...
A Reutersinvestigation this week uncovered nearly 3,000 different communities across the U.S. with lead levels higher than those found in Flint, Michigan, which has been the center of an ongoing water contamination crisis since 2014. The investigation found that many of the hot-spots are receiving little attention or funding.
Just weeks after Ford idled four plants "due to slowing sales", GM and Fiat Chrysler announced today that they will idle seven plants across Canada and US as they work to reduce near-record high inventories amid weakening sales. Just over 10,000 workers will be idled.
Electors in Pennsylvania will have police protection as they cast their ballots on Monday, The Pittsburgh Post-Gazette reported. One Pennsylvania elector, Ash Khare, told the Pittsburgh Post-Gazette that he receives thousands of emails a day trying to sway his vote.
Global markets begin the last full week of trading of the year in subdued fashion, with U.S. equity futures rising 0.1%, to 2,258.5, European shares decline, halting two straight weeks of gains, and Asian shares hitting a four-week low.
"There are strong grounds to fade this current rally... I believe that moving against the herd mentality, will likely bear fruit in what is probably going to be an even more intense roller coaster ride than what we witnessed in 2016." - David Rosenberg
As we draw closer to the December 19th Electoral College vote, the pressure on electors to switch their votes is ramping up with reports of harrassing emails, phone calls and death threats surfacing in Republican states all around the country.