Now that October is officially over we can close the deal books and do the math: according to Dealogic, it was a record month for dealmaking, smashing all previously records with just over half a trillion dollars, or $500.1 billion, of mergers and acquisitions announced globally.
With the ongoing political circus, weak corporate earnings (considering the massive reductions in expectations since the beginning of the year), Apple and Amazon both missing expectations (which really goes to the heart of the consumer), and consumer sentiment waning, it is surprising the markets are still holding up as well as they are. As long as the markets can maintain support about 2125, the bull market is still in play, but at this point, not by much.
AT&T’s in house, for-profit surveillance operation called Project Hemisphere has nothing to do with information sharing legally required under a warrant, but rather consists of a business line through which the telecom giant stores customer data longer than peers in order to turn around and sell it to government agencies (no warrant required). This allows law enforcement to use secret and never disclosed evidence to build a cases against citizens via a shady and unaccountable practice known as parallel construction.
Last night, David Rosenberg pointed out something troubling: we have just witnessed five multi-billion dollar deals this past week alone — $207 billion globally (AT&T/Time Warner; TD Ameritrade/Scottrade) in what has been the most active announcement list since 1999. We can now add another massive deal to the list: this morning Qualcomm announced it would buy NXP Semiconductors NV for about $47 billion, including debt, as it seeks to expand the reach of its chips from phones to cars.
For anyone to seriously challenge the American Leviathan, it must be understood that the mainstream media is a part of that despotic structure and it too must be neutered. Donald Trump has done more than any Presidential candidate to expose the treachery of the mainstream media, now others must take up the cause.