President Obama

The nation's top CEOs trimmed their forecasts for sales and capital spending, according to the Business Roundtable's fourth quarter survey, predicting the economy will grow a modest 2.4% next year (well below the forecasts of many economists who expect the nation's GDP to rise 3% or more in 2015), with only 36% expecting to increase capital spending. Given the roundtable's urging government to extend corporate tax breaks that are set to expire and pass broader corporate tax changes that would encourage companies to invest in the U.S., we look forward to President Obama explaining to the CEOs why they've never had it better...

With African Americans. However, even they are unhappy with Obama's Ferguson performance.

Any economic sage should conclude that the cure for high taxation is, well, low taxation. Remember our job is not to maximize government revenues in the short run, but to improve living standards in the long run. France would do well to repudiate its native son Piketty, and move to align its policies with the Scotsman Adam Smith, who a long time ago advocated low-broad taxation and light-handed regulation of capital and labour markets.

With Ebola off the front-pages of every media outlet, President Obama appears to finding it tough to get his $6 billion funding request to fight the deadly disease... time for some hope (things are good in America, Spain delcared Ebola-free) and fearmongery (5,987 deaths and 16,889 cases currently) as The White House increases Ebola response units in the US and sends more military and civilians into Africa...

Total U.S. national debt hit a new record high overnight at over $18 trillion as the Obama administration continues to pile debt onto the back of the U.S. taxpayer at a rate that would have made George W. Bush look prudent.

Yep that should do it...

Since 2006,MRAPs, helicopters, machine guns, and night-vision-goggle have been increasingly evident across America as the good ol' yankee copper morphs into a full-metal-jacket-looking killer (even as the FBI admits the threats to police have not escalated as much as the media would like). So it isjust 'lucky' that Ferguson has reignited a narrative that enables President Obama "to discuss federal programs and funding that provide equipment to the state and local enforcement agencies," in a series of meetings today at The White House. We suspect funding will increase (for your own protection) and a new SWATification Tzar will be unveiled.

With friends like this, who needs Republicans. President Obama may be turning over in his golf cart this Thanksgiving weekend as no lessor Democrat than Chuck "get back to work, Mr. Chairman" Schumer said Tuesday night that Democrats acted wrongly in using their new mandate after the 2008 election to focus on the issue rather than the economy at the height of a terrible recession. As National Journal reports, Schumer exclaimed, we "blew the opportunity the American people gave [us]." Little late to distance yourself from this cluster-tax chucky boy...

The executive actions on immigration announced last week look likely to have only a modest economic effect, because, as Goldman Sachs explains, most of the individuals eligible for the programs are already in the US and, in most cases, are likely already working. That said, Goldman estimates that the changes should increase the labor force by about 300k over the next couple of years and that possible wage gains among those gaining work authorization would increase average wages by less than 0.1%.

Some folks are not going to be beheaded today...

Having rather dramatically failed to quell the emotions of America's unemployed youth last night, as all across the nation, it appears Michael Brown's father's emotional outburst to "burn this bitch down" trumped the President's appeal that "protests should be peaceful," Obama is pivoting rapidly to another raging success - Immigration Reform.

• Ferguson in Flames (Reuters)
• Ferguson Cop Told Grand Jury He Feared for His Life (BBG)
• Sharpton: Grand Jury Announcement ‘An Absolute Blow’ (Daily Caller)
• Gunshots echo as violence returns to Ferguson, protests across U.S. (Reuters)
• BoJ members warned on costs of more easing (FT)
• Hagel Exit Shows Obama Has Taken Power Away From Pentagon (BBG)
• Ukraine leader, under pressure from West, pledges new government soon (Reuters)
• Eurozone Stagnation Poses Major Risk to Global Growth, OECD Warns (WSJ)
• ECB’s Coeure Says Officials Won’t Rush as They Debate All Assets (BBG)

"Some folks are protesting...."

The earlier 'under pressure' resignation of Secretary of Defense Chuck Hagel means President Obama has to make a personnel announcement... explaining exactly what characteristics he is looking for as he prepares to invade the middle east? One wonders if he will assume the duty of SecDef?