China's military showed off on Saturday its first aircraft carrier group conducting a series of previously unannounced fighter launch, recovery and air combat exercises in the Yellow Sea. Additionally, the defense ministry hinted that the group "will conduct scheduled cross-sea training and tests", wording that has prompted speculation that the warships would next sail to the contested South China Sea.
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?
With his fund down ~50% YTD, one wonders if Crispin Odey should be thinking about quietly exiting stage left after a long and mostly illustrious career. However, as his latest letter suggests, Odey is just getting his second, or maybe third, wind and is confident that he will ultimately win the war against central bankers.
"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..."
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?"
Soaring homebuilder confidence, crashing mortgage applications, spiking mortgage rates, weak pending home sales, strong existing home sales, and now new home sales for November surged 5.2% MoM (smashing expectation of a 2.1% rise). Take your pick of the US housing 'recovery' narrative.
The election of Donald Trump was inevitable and would precede the triggering of the final stage of our ongoing economic crisis. The Fed’s timing of their latest rate hike is highly strategic, not only setting the stage for a series of hikes that will crush U.S. stock markets this coming year and finally shock the public out of their fiscal stupor, but it also maneuvers the crisis right into the lap of Donald Trump and the conservative movements that support him.
"The narrative about an improving economy, thriving jobs market, and glorious future is bullshit. I know it. You know it. And your establishment puppeteers know it. But only “fake news” sites would dare reveal these inconvenient truths."
We’ve been programmed to sign over our life’s savings to a complete stranger simply because the government says it’s OK. That same government has lied to us about everything else imaginable, ranging from the existence of Weapons of Mass Destruction to whether or not he had “sexual relations with that woman.” Yet this government-sanctioned trust is routinely abused.
"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."
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.
Millennials finally get to claim a trophy for an achievement they actually earned (no participation medals here)...that's right, Millennials have officially set a 75-year record for highest percentage of young adults living at home with mom.