Authored by Paul Craig Roberts,
As flyover America has been suffering economically for many years, these Americans were immune to the oligarchy’s anti-Trump propaganda. However, everyone else in the country was taken in by the propaganda - liberals, progressives, the remnant of the leftwing, and even Patrick Martin of the World Socialist Web Site who normally writes intelligent commentary.
Every presidential election brings with it a renewed debate on taxes: should tax rates be increased or decreased (which in turn forces economists to break out their textbooks to brush up on their Laffer curve definitions)? Traditionally, the question eventually boils down to one thing: what should the tax treatment of the "rich" be: should the wealthy pay more or less in taxes?
The market moves since the US elections have been both big and surprising, and as JPMorgan notes, fund managers have been either too slow or too reluctant to jump into the Trump trade. However, algo-based Risk-Parity funds suffered the most with their biggest loss since Dec 2015 as market 'fear' tumbles to 9 month lows (and stocks are the most overbought in 13 years).
The U.S. Army Corps of Engineers plans to close the anti-DAPL protest campsite at Standing Rock by Dec 5, in an attempt to “protect the public amid violent confrontations between protesters and law enforcement.” The Army Corps issued a letter Friday announcing plans to evict portion of federal land on which people have been camping for months to protest the Dakota Access oil pipeline. Collective Evolution reports: A letter dated November 25, from Army Corps District Commander Col. John W.
Submitted by Charles Hugh-Smith via OfTwoMinds blog,
So where will mobile capital flow in an environment of rising socio-political risk, a multi-year USD uptrend and a dearth of safe, liquid markets?
On October 3rd I asked Is the U.S. Dollar Set to Soar? It seems the answer was yes. Here's the weekly chart of the USD I posted on October 3rd:
And here's the current weekly chart of the USD: