United States

Even as another scandal appears to be emerging, involving Donald Trump's former national security advisor, Mike Flynn who according to the WSJ has offered to testify in exchange for immunity, the Trump administration on Thursday invited leaders of congressional intelligence panels to review the documents it said raise indicate government spy agencies improperly identified President Donald Trump’s campaign officials and associates in the course of routine foreign surveillance.

Authored by Wayne Madsen via Strategic Culture Foundation,

In a rare public announcement, Britain’s signals intelligence agency, the Government Communications Headquarters (GCHQ), issued a rare public statement concerning a charge by an American former judge that it conducted electronic surveillance of president-elect Donald Trump after his upset victory on November 8, 2016. GCHQ stated:

European Union Chief  Jean-Claude Juncker is apparently not thrilled with Trump's support of the Brexit referendum and, in speaking at the centre-right European People Party’s (EPP) annual conference today, has vowed to "promote the independence of Ohio and Austin, Texas in the United States of America" if he "goes on like that."

It's not just the HFT industry that has cannibalized itself so much, while spooking regular traders out of the markets, there is hardly any revenue growth left (as the WSJ showed last week). After suffering a substantial drop in bank equity trading revenues over the past several years, there was hope that finally this key P&L items of sales and trading would post a modest pick up.

In a just released report from the CBO looking at the long-term US budget outlook, the budget office forecasts that both government debt and deficits are expected to soar in the coming 30 years, with debt/GDP expected to hit 150% by 2047 if the current government spending picture remains unchanged.

The CBO's revision from the last, 2016 projection, shows a marked deterioration in both total debt and budget deficits, with the former increasing by 5% to 146%, while the latter rising by almost 1% from 8.8% of GDP to 9.6% by 2017.