Following urges by Edward Snowden and Julian Assange (who offered his own extradition), President Obama has commuted the remaining prison sentence of Chelsea Manning, the army intelligence analyst convicted of an enormous 2010 document leak.
America can no longer afford to waste trillions of dollars on a militaristic foreign policy. Donald Trump should follow-up his attacks on wasteful military spending by dramatically changing our foreign policy and working to cut the Pentagon's bloated budget. If the new administration and Congress increase spending, they will need the Federal Reserve to monetize the growing debt, but Fed action can only delay the inevitable day of reckoning.
Proving they still know how to engineer polling results, ABC/Washington Post and CNN are out with a pair of polls this morning, on Trump's favorability, that sport some of the most egregious "oversamples" we've seen.
1) Long a variety of low-multiple, tax-paying, U.S. value stocks; 2) Long AAPL; 3) Long GM; 4) Short “bubble basket.” 5) Short oil frackers, 6) Short CAT (and other similar industrial cyclicals that have moved much higher post-election).
Responding to Trump's Sunday criticism, Germany's economy minister Sigmar Gabriel said "there is a link between America’s flawed interventionist policy, especially the Iraq war, and the refugee crisis, that’s why my advice would be that we shouldn’t tell each other what we have done right or wrong" and also urged the US to "build better cars" if it wants Germans to buy them.
20 years after first taking up the game of golf in 1997 - due to basketball injuries - President Obama has worked hard to get his handicap down to "an honest 13," comparable to former golfing presidents as they left office (Nixon 12, Clinton 10, JFK 14). However, there is one thing Obama has them all beat with - during his eight years in the White House he played a total of 306 rounds of golf, more than any other president since Dwight Eisenhower.
"In the event that we are needed, we certainly will form a wall of meat. We'll be shoulder-to-shoulder with our brothers and we'll be toe-to-toe with anyone that is going to break through any police barriers."
In two separate, and quite striking interviews with Germany's Bild (paywall) and London's Sunday Times (paywall), Donald Trump did what he failed to do in his first US press conference, and covered an extensive amount of policy and strategy, much of which however will likely please neither the pundits, nor the markets.
Gold prices closed on Obama's inauguration day at $857.25 per ounce. Exactly 12 months later on January 20th, 2010, gold had risen to $1,111.05/oz for a gain of nearly 30% in the first year after Obama’s inauguration.
"The media and politicians had spent so much time with each other that they lost touch with regular people, and Trump capitalized on that... He made the media villains, representative of this out of touch, ivory tower political culture... I think there's some fairness to it..."