Politics

Submitted by John Mauldin via MauldinEconomics.com,

There’s compelling evidence that US stocks are overvalued. Yet just in the last month, we saw investors react to the US election by bidding the benchmarks up to new all-time highs.

This implies they expect even higher prices next year. Can it happen?

Louis Gave of Gavekal took on that question in a lengthy and masterful presentation last week titled “Something’s Gotta Give” (article is behind paywall).

President-elect Donald Trump 'triggered' the social media world into a frenzy Friday night with a tweet that praised Russian president Vladimir Putin's criticism of Democrats. As The Hill reports, Putin on Friday deflected accusations of Russian interference in the U.S. election, saying at a press conference: "Democrats are losing on every front and looking for people to blame everywhere. They need to learn to lose with dignity."

Later Friday, Trump piled on, lauding Putin and continuing his denial that Russia interfered in the election.

Late on Friday, with the US population embracing the upcoming holidays and oblivious of most news emerging from the administration, Obama quietly signed into law the 2017 National Defense Authorization Act (NDAA) which authorizes $611 billion for the military in 2017.

In a statement, Obama said that:

Submitted by Robert Steele via TheMindUnleashed.com,

"Dear Mr. Trump,

I am among the tens of millions who voted for you, and also among the twenty thousand or so that spent fifteen months obsessively devoted to getting you elected. I went to bed in tears on election night, only to be woken at midnight by my wife to watch the miracle unfold. Perhaps someone will read this and in a second miracle, you will hear my voice. I am going to make seven points with seven paragraphs and seven graphics.

Submitted by Michael Shedlock via MishTalk.com,

Without a doubt, Trump campaigned much smarter than Hillary.  Now Michael Moore and his ilk are upset because Trump lost the popular vote. Had the rules been different, Trump would have campaigned differently.

Salil Mehta at Statistical Ideas explores that question in Popular Vote Besotted.