Treasury Department

Obama To Hit New "Friend" Iran With Fresh Sanctions Over Contested Ballistic-Missile Program

On the heels of a “close call” in the Strait of Hormuz on Sunday, Washington is preparing new sanctions against a handful of companies and individuals tied to Tehran’s ballistic-missile program. "We've been looking for some time‎ at options for additional actions related to Iran's ballistic missile program based on our continued concerns about its activities,” an unnamed US official says. Iran calls the new actions "illegal."

Dave Barry Answers - Was 2015 The Worst Year Ever? (Spoiler Alert: Yes)

We apologize, but 2015 had so many negatives that we’re having trouble seeing the positives. It’s like we’re on the Titanic, and it’s tilting at an 85-degree angle with its propellers way up in the air, and we’re dangling over the cold Atlantic trying to tell ourselves: “At least there’s no waiting for the shuffleboard courts!” Are we saying that 2015 was the worst year ever? Are we saying it was worse than, for example, 1347, the year when the Bubonic Plague killed a large part of humanity? Yes, we are saying that.

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Federal Reserve

The Federal Reserve has been telegraphing to markets that they are going to raise the fed funds rate by 25 basis points next month at its December Fed Meeting.

Frontrunning: November 20

  • French, U.S. Troops Enter Mali Hotel as Gunmen Hold Hostages (BBG)
  • Top suspect seen on CCTV in metro during Paris attacks (Reuters)
  • Paris Attacks’ Alleged Ringleader, Now Dead, Had Slipped Into Europe Unchecked (WSJ)
  • Global shares march on as alarm bells ring for metals (Reuters)
  • European Stocks Rise With Asian Shares as Zinc, Ringgit Advance (BBG)
  • World leaders arrive for summit amid heavy security (Reuters)

Futures Rise, Global Stocks Set For Best Week In Six Unfazed By Terrorism Concerns

Futures are modestly higher in early trading having tracked the USDJPY once again almost tick for tick, with the carry trade of choice rising to 123 shortly after Mario Draghi's latest speech pushed the dollar strong initially only to see most gains promptly evaporate against both the Yen and the Euro. European shares are likewise little changed, after gaining earlier, while Asian stocks rise; oil also advanced in early trading only to drop to its lowest overnight level moments ago, a few dimes over $40, with aluminum and copper both posting modest increases.

Welcome To Crickhowell - The Entire Welsh Town That Just Went 'Offshore'

Angered that Facebook, Google, Amazon, etc. pay very little tax, an entire town in Wales decided to employ the exact same tax strategies used by big companies to reduce their own tax burdens. As the proprietor of the local smokery put it, the plan is "jolly clever." Doing this is not immoral or unpatriotic.

The Most Devious Liars In The Room

There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.

Why The Friedman/Bernanke Thesis About The Great Depression Was Dead Wrong

No, Ben S. Bernanke will be someday remembered as the world’s most destructive battleship admiral. Not only was he fighting the last war, but his whole multi-trillion money printing campaign after September 15, 2008 was aimed at avoiding an historical Fed mistake that had never even happened!

Americans Renouncing US Citizenship Soars To Yet Another Record High

1,426. That’s the number of Americans who renounced their US citizenship last quarter according to the US government’s report just released this morning. That’s a record high for a single quarter, easily beating the last record high set earlier this year, which beat the previous record high set in 2013.