Real estate

GSA Changes Tune, Says Trump Not In Violation, "Democrats Mischaracterized What GSA Said"

President-elect Trump has until inauguration day to divest himself of all ownership interest (not just management) of the Trump International Hotel in Washington D.C. or he will be in violation of his lease, according to the agency in charge of government buildings. The lease, according to a letter from four Democrats, forbids elected officials from being party to the deal or receiving any of its benefits, makng the hotel the most visible potential conflicts of interest for Trump.

Jeff Bezos Arrives At Trump Tower

While it will hardly generate as much excitement as Kanye West's unexpected arrival at the Trump Tower, moments ago Jeff Bezos, owner of Amazon and the Washington Post, a man many consider Trump's nemesis based on their "colored" past and Bezos' recent statement that Trump is 'eroding our democracy aroun the edges', arrived at Trump's 5th Avenue headquarters.

Money Under Fire

One serious predicament we face is that the current leaders in the halls of monetary and political power do not appear to understand the dimensions of our situation. The mind-boggling part about it is that the situation is easy to understand. Our collective predicament is simply this: Nothing can grow forever.

Getting In Bed With Government

The recent deal to keep Carrier jobs in the United States is not at all unusual. It only received so much press because Trump made it a campaign issue and saw an opportunity to record a big early PR victory before he even took office. In reality, the intertwining of government and big business meets the definition of fascism.

Trump's Bait And Switch?

Within the political-financial establishment, the more things change, the more, it seems, they stay the same. As Trump moves ahead with his cabinet picks, several of them already stand out in a Mellon-esque fashion for their staggering wealth, their legal entanglements, and the policies they seem ready to support that sound like eerie throwbacks to the age of Harding.

Frontrunning: December 9

  • Futures rise as 'Trump rally' rolls on (Reuters), Oil Advances as European Stocks Extend Gains; Korean Won Slides (BBG)
  • Syrian government forces press attack in east Aleppo (Reuters)
  • Trump: China Will Have to ‘Play by the Rules’ (BBG)
  • Trump’s Cabinet Picks Signal Coming Deregulation Moves (WSJ)
  • Russia’s Military Buildup on the Baltic to Test Trump on NATO (WSJ)
  • OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles (BBG)

Frontrunning: December 8

  • Draghi Expected to Lay Out Plans for More ECB Stimulus (WSJ)
  • Bonds Fall as Investors Turn Wary on ECB Stimulus; Euro Gains (BBG)
  • European Stock Traders Look to Draghi to Break Santa Curse  (BBG)
  • Trump to nominate Pruitt to lead U.S. environmental agency (Reuters)
  • Trump's choice of China envoy a positive sign for ties, Xinhua says (Reuters)
  • Syrian Rebels Pin Hopes on Trump (WSJ)

Here's What Happens When A Currency Completely Breaks Down

But regardless of the form, money is only credible as long as everyone agrees that it has value, i.e. there’s a large enough market size of people willing to use it. This fundamentally comes down to trust and confidence. But Venezuela’s example shows how quickly that very thin veneer of trust and confidence can shatter, plunging a country into chaotic hyperinflation.