United Kingdom

U.S. equity futures are little changed with the GOP Tax Plan now a done deal and no more daily "pricing in" of tax reform possible, as traders nerviously look to see if others will now be "selling the news", a preview of which we got yesterday when US equity indexes closed red across the board despite Trump's biggest legislative win to date, while bonds were spooked by the blowout in government debt needed to fund the giveaways.

Asking prices for houses in the UK are starting to fall at a time when first time buyers in the UK continue to struggle to get on the ladder.

The average house price in the UK has now moved lower by around £25k according to property website Zoopla, but are still nearly 8 times the average wage, which is around 30K per year.

Authored by Alex Gorka via The Strategic Culture Foundation,

Authored by Gail Tverberg via Our Finite World blog,

Economists, including Ben Bernanke, give all kinds of reasons for the Great Depression of the 1930s. But what if the real reason for the Great Depression was an energy crisis?

Yesterday we joked that with the US House of Representatives set to vote for the GOP tax bill on Tuesday, markets would "price in" the same tax legislation they have been pricing in every day for the past year, all over again...

Get ready for US markets to price in tax reform all over again in just a few short hours

— zerohedge (@zerohedge) December 19, 2017