Business

That the market has soared since the Trump election on hopes of a fiscal stimulus splurge, sending the Dow Jones to just 300 points away from 20,000 is by now familiar to most. However, what few may realize is that even in a best case scenario, one where Congress does not throw up on Trump's vague stimulus plan which is expected to add as much as $5 trillion to the already soaring US debt, little if any of the actual spending and economic boost will take place in 2017.

It appears JPMorgan has employee screening - or perhaps retention - problems.

According to Reuters, a (now former) JPMorgan employee, who was ordered to attend counseling for gambling, is facing criminal charges that he engaged in a scheme to steal $5 million from the bank in order to pay personal debts.

That in itself would not be exciting, however the details of how he planned on stealing from the bank to repay his debt, is. 

Careful not send the investing into a panic, Robert Schiller appeared on CNBC this morning to explain just how insane the valuation levels of the market are currently...

http://player.cnbc.com/p/gZWlPC/cnbc_global

And MarketWatch.com's Brett Arends lays out the details...

From "the end of cash" to "Trump muzzling The Fed" to "Russia going on the warpath", Nomura unveils its unlikely-but-impactful grey swan scenarios for 2017...

As Nomura writes, while we would like to be able to predict black swans, by definition they are unpredictable. However, its close cousin, the grey swan, can be envisaged.

Government is on the verge of completely destroying the economy all because those in power are incapable of managing even a bubblegum machine, rages Armstrong Economics' Martin Armstrong.

Local cities are desperate for money as their own pensions moving closer to collapsing.

Instead of dealing with the problem, of course, they always choose to just tax the stupid people.