In the latest surprise move involving his key political advisors, overnight Donald Trump revealed the latest shake up to his presidential campaign, the second in two months, hiring a top executive from Breitbart News and promoting a senior adviser in an effort to "right his faltering campaign" according to the NYT.
Paul Tudor Jones dismissed about 15% of the workforce at his Tudor Investment Corp, after losses and investor withdrawals at the $11 billion hedge fund. Tudor Investment earlier Tuesday informed the affected employees, which include positions ranging from money managers to support staff.
The looming pension catastrophe is an inconvenient fact for elected officials as well as union bosses and their membership. Rational solutions like cutting benefits are not palatable to employees or the elected officials that require their votes. As such, we suspect the problem will continue to be ignored until it boils over...
Soaring auto production in Mexico is creating a bit of a labor shortage as US production continues to migrate south of the border. Supporters of minimum wage hikes could learn from the efforts of the United Auto Workers Union which did a masterful job negotiating off-market wage and benefits packages which ultimately only served to provide their members with permanent job losses.
If the cost of money is high, people think carefully about where they want to put their money. They select only the best investments. This helps everyone. When money is cheap, they throw darts against a wall. This is not the best use of societies' scarce resources. Is it any wonder productivity is down?
Vice chairman of the FDIC, Thomas Hoenig stated that “while the largest U.S. banks have increased capital since the  crisis, their capital is still lower than the industry average and inadequate for bank resiliency.”
Following the Friday night dump of Democratic files released by the hacker Guccifer 2.0, House Minority Leader Nancy Pelosi said that after receiving "scores of mostly obscene and sick calls, voicemails and text messages", she she was forced to change her number. Pelosi added that she was on a flight to from Florida to California when the information was released, and received the unwanted messages upon landing.
"The larger point is that this is something we are seeing all over, the top detaching itself from the bottom, feeling little loyalty to it or affiliation with it. It is a theme I see working its way throughout the West’s power centers. At its heart it is not only a detachment from, but a lack of interest in, the lives of your countrymen, of those who are not at the table, and who understand that they’ve been abandoned by their leaders’ selfishness and mad virtue-signalling."
Gold buying surged to record levels in H1, 2016 due to increasing concerns about the political, economic and monetary outlook. In particular, deepening concerns about the negative interest rate money "madness" of central banks today.
Stocks are very expensive. Bonds are insane. Bank rates are negative for many large investors. These trends are pretty clear - there will likely be more debt, more money printing, more capital controls, and more monetary insanity in the future...And if you understand them, the case for owning at least a small amount of gold is obvious.
The notion that something good might come out of a Trump policy elicits guffaws in certain economic circles. However, by insisting that the U.S. Treasury label China a “currency manipulator” and by promoting trade that is both free and “fair,” Mr. Trump may be laying the groundwork for a significant breakthrough in international monetary relations - one that could ultimately validate the rationale for an open global marketplace and restore genuine free trade as a vital component of economic growth.