"The detractors of Donald Trump failed to realize that, by advertising his episode of bankruptcy and his personal losses of close to a billion dollars, they removed the resentment one may have towards him. There is something respectable in losing a billion dollars, provided it is your own money... your 'skin in the game'."
"So as a consequence, you've got a situation where there're not only entire states but also big chunks of states where, if we're not showing up, if we're not in there making an argument, then we're going to lose. And we can lose badly, and that's what happened in this election."
This week with the passing of Fidel Castro - another “distinguished” butcher comrade with all the assorted hypocrisies - we were reminded of how that scourge of humanity got a free pass yet again. The world by and large missed a great opportunity to set the historical record straight.
"The half-life of whatever OPEC does or doesn’t do is measured in days... weeks at most... Dollar up is bad. Dollar down is good. I don’t know how to say it more plainly than that, and all the Belief in the world about tax reform and repealing Dodd-Frank and all that doesn’t change this reality... Maybe you see that and maybe you don’t. I can promise you, though, that China sees it."
While the statement itself contained 7 fewer words than in September, there were virtually no changes. The most notable change in the wording was the remove of the phrase: "Inflation is expected to remain low for the near term" and its replacement with "Inflation is expected to rise to 2 percent over the medium term." The FOMC also said that "The Committee judges that the case for an increase in the federal funds rate has continued to strengthen" strongly hinting that a December hike is now almost inevitable absent a market crash.
"And so the ECB is stuck, as it has been since 2012, between an unfavourable equilibrium of low growth, high unemployment and zero reform momentum on the one hand, and growing risks to core country balance sheets on the other. It remains to be seen how it will escape from this dilemma of its own making."
A recent, reluctant re-viewing of the film, 'Silence of the Lambs', fed fresh food for thought. The image of captives rejecting their freedom brought to mind another flock of corralled and stunned lambs - bond market investors. They too have been given the opportunity to escape their fate. But so many choose instead to stay. Such is the reality of a world devoid of options, with time ticking ruthlessly by.
Can fear of Trump motivate? Sure it can. But if Brexit taught us anything, it’s the limitations of a fear-based campaign, at least when the fear-mongers are the same smarter-than-thou elites who tsk-tsk their deep and abiding concern for the benighted masses from Davos or Jackson Hole. Status quo candidates don’t win on fear alone.