United States

Just in case the accusations that president-elect Donald Trump is a puppet of the Kremlin, intent on destabilizing and weakening the US weren't loud enough, moments ago the WSJ assured these would hit an unprecedented level with a report that Trump, a harsh critic of U.S. intelligence agencies, is working with top advisers on a plan that would restructure and pare back the nation’s top spy agency, the Office of the Director of National Intelligence, prompted by a belief that it has "become bloated and politicized."

The US is refusing to bomb oil production facilities operated by ISIS in  Syria, according to the Russian Ministry of Defense. The oil fields earn ISIS tens of millions of dollars in revenue every month and provide the terror organization with their main source of income which is used to promote global jihad.

While US equity prices push ebulliently towards their next level of Nirvana, financial conditions continue to tighten for American businesses.

For the first time since April 2009, 3-month LIBOR - one of the most important reference rates for business financing - topped 1.00% today.

We documented the real world implications of this in "Forget The Fed’s 0.25%, Short-Term Rates Have Already Risen By 1% For The Real World"

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Memo to Larry Summers: It’s Secular Saturation (Not Stagnation)

Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL)