Business

The NFIB Small Business Optimism survey hit this morning and it surged to near record highs...

With Small Businesses having never been so excited to hire people ever...

Construction, manufacturing and professional services registered notable increases in planned hiring. The figures indicate the recent solid pace of job growth will be sustained and help extend the economic expansion.

And, of course, President Trump was over the moon...

Authored by David Stockman via Contra Corner,

The entire financial and economic narrative in today's Bubble Finance world is virtually context- and history-free; it's all about the short-term deltas and therefore exceedingly misleading and dangerous.

The Fed claims we’re not in a bubble.

This, like the Fed’s claims inflation is too low, is hogwash.

As I outline in my bestselling book The Everything Bubble: The Endgame For Central Bank Policy, the reality is that the Fed’s entire monetary focus is on papering over declining living standards in the US.

Juist minutes after hope for Senator Cornyn on the tax bill deal sent stocks to new record highs, Senator Rand Paul threw cold water all over the government shutdown budget bill with a tweet, sparking algos to sell on the "Paul says no" headlines.

I cannot in good conscience vote to add more to the already massive $20 trillion debt. I promised Kentucky to vote against reckless, deficit spending and I will do just that. pic.twitter.com/BUYqm91mli

The writing for John Burbank's Passport Capital was on the wall back in August, when as we reported, in his latest letter to investors Burbank reported that at what was once a multi-billion fund, total firm assets at Passport had shrunk to just $900 million as of June 30 as a result of net outflows totaling a whopping $565 million, or a nearly 40% loss of AUM due to redemptions. The collapse in assets took place just a few months after Passport announced it was liquidating its long/short strategy in April.