Business

In light of the dramatic spike in interest rates since the Trump victory, where as we reported yesterday and as Bloomberg comments overnight, "yields on benchmark 10-year Treasuries posted their steepest back-to-back weekly increase since 2001" leading to the "the worst rout in the fixed-income universe in 15 years"...

... and which coupled with a surge in the 10-Year breakeven rate - a gauge of US consumer price expectations - to the highest in more than 18 months...

While we’re on the topic of fake news… how about we assess the fake economy of the last eight years?

President Obama at one point claimed that those who questioned the strength of the recovery were “peddling fiction.”

It’s an interesting claim given the entire recovery, at least post 2010, has been built on fake economic data to perpetuate a fake narrative of growth.

A few key items…

While the 'deplorable' half of America was greatly relieved when Donald Trump pulled off his establishment-upsetting victory, there is another group of Americans that may be even more pleased. Goldman Sachs' top executives had over 1 million stock option grants due to expire worthless next week, but thanks to an unprecedented spike in the stock since the election, Bloomberg reports Lloyd Blankfein and friends have cashed out, selling hundreds of millions in stock in the last week.

Submitted by Alasdair Macleod via GoldMoney.com,

Hayek’s The Road to Serfdom described how personal freedoms are progressively eroded by the state in the name of the common good.

By the SRSrocco Report,

The world is sitting at the edge of a massive deflationary cliff.  Even though Central Banks are desperately trying to keep the world's financial assets from plunging down into the great depression below, signs suggest they are losing the battle.