As the champagne glasses clink in Washington over a record-breaking streak of job growth on record (as the percent of the population employed slumped), and the fastest wage growth since the start of the recovery (for managers), we just wanted to remind a few blinkered media types that Obama's "recovery" has officially been the worst recovery in US history (despite adding almost $10 trillion to the national debt)...
"We’ve been in a decline for years. Our national debt has reached monstrous proportions. Even if Trump is able to pull off a miracle and turn things around, there will have to be drastic cuts for this to happen. Painful ones. People will suffer."
James Madison, the father of the Constitution, put it best when he warned: “Take alarm at the first experiment with liberties.” Anyone with even a casual knowledge about current events knows that the first experiment on our freedoms happened long ago. We are fast moving past the point of no return when it comes to restoring our freedoms.
Huge market euphoria in the absence of economic improvement, promised tax changes giving rally winners reason to wait to take profits until 2017, Obama scorching the earth everywhere, and numerous other forces mean the stock rally is going down.
The American people have been punked by their own government and their central bank, the Federal Reserve, for years and the jig is now up. In 2017 both will lose their authority and legitimacy, a very grave matter for the survival of this republic.
Since Trump’s election, the US stock market has climbed unstoppably along a remarkably steep path to round off at a teetering height. Is this the irrational exuberance that typically marks the last push before a perilous plunge?
"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..."
The Royal Mint in the UK, had beaten the Royal Canadian Mint and GoldMoney to it by announcing at the end of November that they were launching a blockchain project, one which will be in direct competition with the Euroclear project.