The stock market has been on quite a roll in recent weeks, but signs of trouble continue to plague the real economy. Even though economic conditions appeared fairly stable throughout 2016, our long-term problems just continued to get even worse. So the truth is that we are more primed for a major crisis today than we have been at any point since the last recession.
Facebook just can't seem to catch a break lately. From questionable privacy policies and mass data collection of its users to its handling of the so-called "Fake News" epidemic, Mark Zuckerberg is pissing off a lot of people these days.
The core thread of next year's relatively downbeat "surprises" from Seabreeze Partners' Doug Kass is that the crowd is wearing Trump-colored glasses and that the single-biggest surprise is how quickly the bloom comes off the Trump flower.
According to a Reuters poll, some 63%, or nearly two-thirds, of US adults did not plan to shop on Black Friday this year. Some 32% said they plan to finish about half of their holiday shopping on that day. As a result "shocked" US retailers are doing everything they can in their scramble for market share.
Six months ago, Steven Mnuchin became finance chair for the Trump campaign. Having succesfully helped to raise 10s of millions of dollars for the campaign, the former Goldman Sachs partner and Soros Fund management employee is now positioned for something much larger as Donald Trump reportedly told his aides today that he wants Mnuchin to serve as his Treasury Secretary.