America

Via ConvergEx's Nicholas Colas,

As we first documented last week in "Mega-Bears Smell Blood As Mall REITs Tumble" and as Bloomberg followed up yesterday, looking at CMBS on the Mall REIT space, many have set their sights on mall REITs as the "next big short." However, an obvious question that has emerged is whether it is too late to go all in on this particular short, or whether as some have suggested, the bottom is in.  “The short feels crowded to us,” said Matthew Weinstein, principal at Axonic Capital, a hedge fund that specializes in structured products.

Following the "millionaire exodus" writing-on-the-wall, it appears Americans, who are renouncing citizenship in record numbers, have found their new safe haven from the Trumpian dystopia they appearently fear. In the 12 weeks since the election, the number of Americans applying for New Zealand citizenship has soared 70%.

Millionaires are already moving...

Courtesy of: Visual Capitalist

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Federal Courts Say Foreigners, Not US Citizens, Are Entitled To Due Process

Paul Craig Roberts

The US Constitution applies to US citizens, and the amendments known as the Bill of Rights guarantee due process as a protection of US citizens’ civil liberties. That’s the theory but not the practice.

The last time Robert Shiller heard stock-market investors talk like this in 2000, it didn’t end well for the bulls.

As Bloomberg reports, Shiller says when markets are as buoyant as they are now, resisting the urge to pile in is hard regardless of what else might be happening in society.

“I was tempted to do it, too,” he says. “Trump keeps talking about a new spirit for America and so you could (A) believe that or (B) you could believe that other investors believe that.”