Business

Submitted by Simon Black via SovereignMan.com,

Every year around this time the US federal government releases an annual financial report to the public.

It would be hilarious if the numbers weren’t actually true.

Just like Apple or Exxon, the government’s annual report contains several important financial statements and detailed commentary about their finances and operations.

But unlike Apple, Exxon, the government can’t manage to turn a profit. Ever.

In today's trifecta of after hours earnings results, all three behemoths representing different key parts of the US economy, stumbled after either missing expectations, or guiding lower.

First, it was Mondelez, which missed on the top and bottom line, reporting Q4 EPS of $0.47 below the $0.49 expected, on disappointing revenue of $6.77BN, below the $6.87BN expected. The company also missed on margin reporting Q4 adj. gross margin 39.0%, below the est. 40.1%. Some other details:

Bonds bid, gold at 3-month highs, debt ceiling anxiety surging... Buy-The-Fucking-Record-Highs, Stupid!

CNBC was a little excited today...

Per CNBC-

The US Army Corps said in a court filing it has notified Congress that it has granted the final easement needed to finish the controversial Dakota Access pipeline. The easement was needed for Energy Transfer Partners to complete work on the last pipeline portion located under Lake Oahe.

Stmt from US Army says they intend to grant the easement needed to complete the #DakotaAccessPipeline: pic.twitter.com/NgLyIzMXww

— Frank Thorp V (@frankthorp) February 7, 2017

Just day after President Trump suggests Germany is a currency manipulator, and as Merkel looks set to lose her Chancellorship, Europe's powerhouse economy just collapsed in December. Industrial production plunged 3.0% MoM in December - the biggest drop since Jan 2009 and over 8 standard deviations below expectations.