America

For the past few weeks, Chuck Schumer and Nancy Pelosi have screamed to anyone who would listen that the GOP tax plan is nothing more than a tax break for millionaires and an attack on middle class working families.  But, as the Wall Street Journal points out this morning, America's millionaire, billionaire, private jet owners living in expensive urban areas are set to lose 'bigly' if Trump's $500,000 cap on the mortgage interest deduction survives.

Authored by Marianne Brunet via AdvisorPerspectives.com,

The conventional wisdom is that Millennials are a generation with unique needs and buying habits, but Neil Howe says that they are very similar to the Greatest Generation.

Howe, who coined the term “Millennial,” says that both generations are highly risk-averse, a characteristic brought on by their shared parenting environment.

In a talk last week, Howe explained how we can use generational patterns and historical economic trends to better understand the future of the global economy.

On Monday, Trump pressed Japan’s Prime Minister and business leaders to reduce the $69 billion trade deficit. A couple of badly made jokes, awkward moments and an unfair singling out of the auto industry later, we expressed our scepticism that the Japanese would do anything after he left (see “Trump Says Trade With Japan Is Not Fair And Not Open – Awkward Moments Ensue” here).  Today Trump touched down in Beijing for two days of meetings, including eagerly awaited talks with China’s greatest leader since Mao, Xi Jinping.

Earlier this week, following a series of interviews with Matt Lauer, Megyn Kelly and Dr. Oz, Corey Feldman announced via twitter that he had filed a formal complaint with the Los Angeles Police Department regarding a pedophilia ring that he says has persisted in Hollywood since he burst onto the scene as America's favorite child actor in the 80's.

IMPORTANT CAMPAIGN UPD8: I JUST COMPLETED A FORMAL SIT DOWN INTERVIEW W @LAPDHQ SPECIAL DIVISION, & GAVE THEM ALL THE INFO I KNOW! THIS WAS

Authored by Charles Hugh Smith via OfTwoMinds blog,

These are the poisoned fruits of a neofeudal system in which power, wealth and political influence are concentrated in the apex of the wealth-power pyramid.