Hungary will use "all the tools at its disposal" to “sweep out” NGOs funded by George Soros, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the ruling Fidesz party, told reporters on Tuesday.
With the Trump inauguration just over 10 days away, attention shifts to what he will do once he arrives in the White House, and judging by his campaign promises, Trump will be a busy man from day one in the Oval Office. Here is a complete list of what Trump can do on both day one and the rest of 2017, courtesy of Goldman Sachs.
Starting Tuesday Americans will be subjected to what will feel like endless hours of torture as Senate Democrats get their opportunity to question Trump cabinet appointees. Given that Republicans control a 52-48 majority in the Senate and that Democrats eliminated the 60-vote threshold in 2013, the Democrat theatrical displays will ultimately amount to nothing more than an attempt to discredit and shame Trump's appointees but should be fun nonetheless.
“Investor appetite for U.S. equities is seemingly insatiable,” said David Santschi, chief executive officer of TrimTabs. “U.S. equity ETFs have had inflows on all but six trading days since the U.S. presidential election, and the buying volume has been by far the strongest we’ve ever seen.”
While $2,000 is a small amount of money, the entire thing stinks. Kamala Harris should resign from her Senate seat immediately unless she can provide a reasonable explanation of why she let OneWest off the hook. Likewise, Steven Mnuchin should be replaced by Trump as Treasury Secretary nominee. Both are swamp creatures, and we should demand better than these two.
While China's unprecedented currency moves have quickly become the main talking point across global markets which otherwise have started off 2017 in an eerily calm fashion, it is the sudden surge in two-way volatility that has emerged a major threat to global market stability.
With all eyes likely on wage growth indications in the subtext of tomorrow's payrolls report (following The Fed Minutes' comments on full employment), Goldman Sachs is forecasting a better-than-expected 0.3% rebound in average hourly earnings (helped by more favorable calendar effects) and a better-than-expected 180k payrolls print (albeit with a small rise in the unemployment rate). However, they are careful to note that any downside can be blamed on "a considerable drop in temperatures."
One day after Exxon announced it would sever ties with its former CEO and Chairman, Rex Tillerson, who is slated to become Trump's secretary of state, in the process awarding him $182 million in deferred shares (presumably tax-free), today Tillerson disclosed assets worth as much as $400 million in an ethics filing that showed investments across more than a dozen nations.
A very large percentage of the American public (including myself), remain irate at the complete lack of any justice served with regard to finance criminals in the aftermath of the economic collapse of 2008/09. When it comes to greedy, unethical behavior in the wake of that tragic period, Steve Mnuchin is in a class of his own. To appoint such a toxic financial oligarch to Treasury Secretary is a serious slap in the face to all American citizens.
About 40 protesters yelled chants of "drain that swamp" and waved signs depicting "Government Sachs" in the lobby of Goldman Sachs' New York headquarters on Wednesday in opposition to the firm’s growing influence in President-elect Donald Trump’s administration. They were promptly ejected, in some cases physically.
"the hawkish December FOMC statement and accompanying increase in median interest rate expectations were to some extent motivated by the possibility of easier fiscal policy–as opposed to a shift in the FOMC reaction function."
"Looking back over eight centuries of data, I find that the 2016 bull market was indeed one of the largest ever recorded. History suggests this reversal will be driven by inflation fundamentals, and leave investors worse off than the 1994 “bond massacre”."
It's official. As previewed earlier this morning, when we reported that according to media reports, Sullivan & Cromwell lawyer Jay Clayton, a long-time favorite of Wall Street and especially Goldman Sachs, has been nominated to lead the Securities and Exchange Commission.
Donald Trump is preparing to appoint another Wall Street proxy to the top Wall Street regulation, supervision and enforcement post. According to the WSJ, Wall Street M&A and IPO lawyer, Jay Clayton, is Trump's leading candidate to become chairman of the Securities and Exchange Commission and could be announced as the nominee as soon as Wednesday.