Our Most Important Campaign Deadline So Far Is Here – And Here Is The Shocking Reason I Am Not Asking For Any Money

The most important deadline that we have faced so far is at midnight on Sunday, but I am not going to ask you for any money. I just want to say thank you to everyone that has donated, volunteered and prayed over the past six months. Without all of your efforts, it would have been impossible for us to be within striking distance of victory here in Idaho’s first congressional district with just a little more than four months to go until election day. When I first announced that I would be running, many people told me that it would be impossible for a political outsider to win in this district, but we are proving the naysayers wrong. We are so far ahead of where we thought that we would be at this point, and our opponents are literally freaking outover how well we are doing.
As the December 31st deadline approaches, my opponents have been sending out email after email in a desperate scramble for money. The reason why I know this is true is because we are on all of their email lists.
But I have decided that we are not going to do the same thing. Yes, we need support just as badly as they do, but I am simply going to trust the Lord that the resources will come in. We have already told our supporters what our needs are, and we are going to trust that the Lord will move in the hearts of those that are supposed to give.
The stakes in this race are exceedingly high. As we look at the numbers, it appears likely that one particular opponent is likely to emerge victorious if I do not win next May. If he wins, it will be a complete and utter disaster for the Trump movement.
This particular opponent fought to keep Donald Trump out of the White House, his campaign has repeatedly attacked my faith, and by lying over and over again he has demonstrated that he simply does not have the moral character to serve in Congress.

This post was published at The Economic Collapse Blog on December 30th, 2017.

The US Suffered 15 Billion-Dollar-Plus Weather Disasters In 2017

In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the US received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash of hurricanes, fires and floods.
According to Bloomberg, the US recorded 15 weather events costing $1 billion or more each through early October, one short of the record 16 in 2011, according to the federal government’s National Centers for Environmental Information in Asheville, North Carolina. And that tally doesn’t include the recent wildfires in southern California, one of which grew to be the largest fire in state history, according to Bloomberg.
Among the most devastating events were hurricanes Harvey, Irma and Maria and wildfires in northern California. The killer storms caused economic losses of more than $210 billion in the U. S. and across the Caribbean, and about $100 billion in insured damages, according to Mark Bove, a senior research scientist with Munich Reinsurance America in Princeton, New Jersey.

This post was published at Zero Hedge on Sat, 12/30/2017 –.

Jihadist Group Blows Up Oil Pipeline In Iran, In Midst Of Protests

In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the US received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash of hurricanes, fires and floods.
According to Bloomberg, the US recorded 15 weather events costing $1 billion or more each through early October, one short of the record 16 in 2011, according to the federal government’s National Centers for Environmental Information in Asheville, North Carolina. And that tally doesn’t include the recent wildfires in southern California, one of which grew to be the largest fire in state history, according to Bloomberg.
Among the most devastating events were hurricanes Harvey, Irma and Maria and wildfires in northern California. The killer storms caused economic losses of more than $210 billion in the U. S. and across the Caribbean, and about $100 billion in insured damages, according to Mark Bove, a senior research scientist with Munich Reinsurance America in Princeton, New Jersey.

This post was published at Zero Hedge on Sat, 12/30/2017 –.

Goldman Showers Execs With $100 Million In Early Bonuses To Avoid Trump Tax Hit

Goldman Sachs has accelerated nearly $100 million in stock awards to top executives before the end of the year in order to avoid unfavorable changes in the new tax code, according to public filings posted Friday.
The most sweeping overhaul of U. S. tax code in 30 years includes a provision which caps a corporate deduction for executive pay; under current law, corporations can deduct up to $1 million per executive’s base salary, however there’s no cap on deductions for performance-based pay, such as bonuses.
Under the new provisions, both base salary and performance bonuses count towards to $1 million cap – which is why Goldman accelerated $94.8 million in bonuses originally scheduled for January, 2018. By paying the bonuses early, the bank will save money on its own tax bill.

This post was published at Zero Hedge on Sat, 12/30/2017 –.

“Q1 Stock Market Outlook: We’re Gonna Need a Bigger Slide”

Submitted by FFWiley
If 2018 rings in a bear market, it could look something like the Kennedy Slide of 1962.
That was my conclusion in ‘Riding the Slide,’ published in early September, where I showed that the Kennedy Slide was unique among bear markets of the last eighty years. It was the only bear that wasn’t obviously provoked by rising inflation, tightening monetary policy, deteriorating credit markets or, less commonly, world war or depression.
Moreover, market conditions leading up to the Slide should be familiar – they’re not too far from market conditions since Donald Trump won the 2016 presidential election. In the first year after Kennedy’s election, as in the first year after Trump’s election, inflation seemed under control, interest rates were low, credit spreads were tight, and the economy was growing. And, in both cases, the stock market was booming.

This post was published at Zero Hedge on Sat, 12/30/2017 –.

China Eliminates Taxation For Foreign Companies Investing in China

China has responded to global competition that is exploding in the wake of the Trump Tax Reform. While domestic news in the USA continues to bash the tax reform on class warfare, the rest of the world is trying to come to terms with what Trump has set in motion. China’s response is to allow foreign companies complete tax-free business on any profits they reinvest in China upping the stakes. Their position was stated by the Ministry of Finance and it is designed to ‘foster the growth of foreign investment, improve the quality of foreign investment, and encourage foreign investors to continuously expand their investment in China.’ The tax exemption applies retroactively from January 1st, 2017 beating Trump at his own game once more. Foreign companies who have paid taxes in China for 2017 will be refunded.

This post was published at Armstrong Economics on Dec 30, 2017.

Ron Paul Warns America’s “On The Verge Of Something Like 1989’s Soviet System Collapse”

Ron Paul does not believe the U. S. will break into separate countries, like the Soviet Union did, but expects changes in the U. S. monetary policy, as well as the crumbling of the country’s “overseas empire.”
The godfather of the Tea Party movement and perhaps the most prominent right-leaning libertarian in America, Ron Paul, believes the economic boom the United States experienced under President Trump could be a ‘bit of an illusion.’
Mr. Paul sees inequality, inflation, and debt as real threats that could potentially cause a turmoil.
‘the country’s feeling a lot better, but it’s all on borrowed money’ and that ‘the whole system’s an illusion’ built on corporate, personal, and governmental debt.
‘It’s a bubble economy in many many different ways and it’s going to come unglued,’
In a recent interview with the Washington Examiner, Paul said,
‘We’re on the verge of something like what happened in ’89 when the Soviet system just collapsed. I’m just hoping our system comes apart as gracefully as the Soviet system.

This post was published at Zero Hedge on Fri, 12/29/2017 –.

FinTwit Set To Lose Some Of Its Most Prominent Voices Due To Loss Of Anonymity

(2) The last four years has been a blast, both financially and politically. While I know many of you didn’t always agree with my snarky takes on Trump, Elon, etc., I hope I at least made you consider a different, if not ancient, point-of-view.
— Diogenes (@WallStCynic) December 29, 2017

Financial twitter is set to lose some of its more prominent “anonymous” voices in just a few days. The reason: in a decision that has passed largely under the radar, beginning in 2018, the SEC will require registered investment advisors – i.e. carbon-based asset managers, hedge funders and so on, to disclose any anonymous social media accounts, on their Form ADV.
This goes back to a recently filed amendment to Form ADV, i.e., the “Umbrella Registration” for asset managers, specifically Item 1. I. as described below by K&L Gates:
Recognizing the increasing use of social media by advisers, the SEC has also amended Item 1. I. to request information regarding the registrant’s accounts on publicly available social media platforms, such as Twitter, Facebook, and LinkedIn. Previously, Item 1. I. only asked for information about an adviser’s websites. Now, the registrant must provide, in addition to its website addresses, the addresses of each of its social media pages in Section 1. I. of Schedule D. However, a registrant should not provide the addresses of websites or accounts on publicly available social media platforms where the registrant does not the control the content, nor should it provide the website and social media addresses of its employees’ accounts, regardless of whether the registrant controls the content of such accounts.

This post was published at Zero Hedge on Fri, 12/29/2017 –.

MIFiD II Delays…

Talk amongst many traders is that they are so unsure how the new rules and regulations surrounding the implementation of MIFiD II (Markets in Financial Instruments Directive) are to be imposed, that some even said they were keen to extend their holidays until this mess is sorted out. In other words, until they hear that regulators will grant firms a six-month delay for part of the changes about to be implemented for both the company and country, many just do not even know how to conduct business anymore.
The most critical problem surrounding this nightmare is the fact that every trade (with a European Counterpart) will require a LEI (Legal Entity Identifier). This is not such a critical issue for Wall Street Banks since they have already won a 30-month grace period after the SEC requested time to negotiate terms with the EU. Goldman Sachs has installed another of its board members as the top negotiator inside the SEC – Alan Cohen. Goldman Sachs has now three strategic people in the Trump Administration to steer the legislation in their favor both in the USA with restoring Glass Steagall to reduce their competition (Gary Cohen & Steven Mnuchin) and they have now added Alan Cohen, who was their Head of Global Compliance.

This post was published at Armstrong Economics on Dec 29, 2017.

As The Yield Curve Crashes To 10 Year Lows, Trader Shows “How To Put On A Steepener”

Yesterday saw the US Treasury yield curve collapse to a fresh cycle low – the flattest curve since Oct 2007 – erasing the hoped-for trend change shift from last week…
And this is occurring as net positioning in the long-end has never been more bullish.
Between that and the effect of Trump’s tax reform plan, The Macro Tourist’s Kevin Muir lays out his thesis for getting long a steepening trade into the new year and details how to do it…
Over the Christmas break, there has been a lot of chatter about this great chart from 13d Research that has been labeled, ‘the most important chart in the world.’

This post was published at Zero Hedge on Thu, 12/28/2017 –.

Trump Warns China – “No Friendly Solution” If They Keep Cheating On Korean Oil Exports

Caught RED HANDED – very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!
— Donald J. Trump (@realDonaldTrump) December 28, 2017

President Trump took aim at President Xi this morning in a very clear tweeted warning that follows US spy satellite evidence that showed China allowing oil exports to North Korea.
Trump exclaimed “caught red-handed” and said he was “very disappointed” by China’s actions. Perhaps more notable is that he explained “there’s no friendly solution” if this continues…
As a reminder, this is what President Trump is upset about, according to South Korea’s Chosun Ilbo, U. S. recon satellites have photographed around 30 illegal transactions involving Chinese vessels selling oil to North Korea on the West Sea in October. The images allegedly showed large Chinese and North Korean ships transacting in oil in a part of the West Sea closer to China than South Korea. The satellite pictures even showed the names of the ships.

This post was published at Zero Hedge on Thu, 12/28/2017 –.

The Wall Street Journal Does a Hit Piece on Trump’s Vacations

The Wall Street Journal is trying to match The Washington Post for anti-Trump investigative journalism.
Consider this article: President Trump Spent Nearly One-Third of First Year in Office at Trump-Owned Properties. It is a screed on Trump’s time spent vacationing.
It has a subhead: “Unlike his predecessors, president traveled frequently to places he owns but where others pay to stay.” That is because his predecessors did not own several billion dollars’ worth of prime vacation real estate.
Would you rather stay at a Motel 6 or Mir-a-Lago if someone else was picking up the tab? To ask the question is to answer it.
I, for one, applaud the time that he spends vacationing. Any time that a politician spends doing anything other than legislating is time well spent. When they are busy “making things better” by expanding the government, citizens are losers. They lose a little more of their liberty.
Earlier this year, The Washington Examiner reported this.

This post was published at Gary North on December 28, 2017.

NY Gov Rips Trump Tax Bill: “Let’s Pillage The Blue To Give To The Red”

It seems that Trump’s tax plan has officially turned New York Governor Andrew Cuomo into a “trickle down” economics guy.
Apparently unhappy that the new tax legislation will result in higher taxes for the “millionaire, billionaire, private jet owners” of his state who have mortgages over $750,000 and annual property taxes of over $10,000, Cuomo said that the White House’s efforts to “spread the wealth around” are nothing more than an effort to “pillage the blue to give to the red.”
“Look, there’s always politics in crafting of legislation. But, this was an egregious, obnoxious…what the Senate was saying is because we have no Senators from the ‘Blue States’ we don’t care. So let’s pillage the blue to give to the red.”
“That’s never been done in this nation before. That’s partisan politicking over any semblance of good government.”

This post was published at Zero Hedge on Thu, 12/28/2017 –.

What Happens When A Russiagate Skeptic Debates A Professional Russiagater

Authored by Caitlin Johnstone via Medium.com,
Have you ever wondered why mainstream media outlets, despite being so fond of dramatic panel debates on other hot-button issues, never have critics of the Russiagate narrative on to debate those who advance it? Well, in a recent Real News interview we received an extremely clear answer to that question, and it was so epic it deserves its own article.
Real News host and producer Aaron Mat has recently emerged as one of the most articulate critics of the establishment Russia narrative and the Trump-Russia conspiracy theory, and has published in The Nation some of the clearest arguments against both that I’ve yet seen. Luke Harding is a journalist for The Guardian where he has been writing prolifically in promotion of the Russiagate narrative, and is the author of New York Times bestseller Collusion: Secret Meetings, Dirty Money, and How Russia Helped Donald Trump Win.
In theory, it would be hard to find two journalists more qualified to debate each side of this important issue. In practice, it was a one-sided thrashing that The Intercept’s Jeremy Scahill accurately described as ‘brutal’.
The term Gish gallop, named after a Young Earth creationist who was notoriously fond of employing it, refers to a fallacious debate tactic in which a bunch of individually weak arguments are strung together in rapid-fire succession in order to create the illusion of a solid argument and overwhelm the opposition’s ability to refute them all in the time allotted. Throughout the discussion the Gish gallop appeared to be the only tool that Luke Harding brought to the table, firing out a deluge of feeble and unsubstantiated arguments only to be stopped over and over again by Mat who kept pointing out when Harding was making a false or fallacious claim.


This post was published at Zero Hedge on Thu, 12/28/2017 –.

Trump Tax Cuts – The Spark That Burns Down The EU

Authored by Tom Luongo,
For most of this year I’ve been wondering what would the spark that would set off a banking panic in the European Union.
I know, but what do I do for fun, right?
I’ve chronicled the political breakdown of the EU, from Brexit to Catalonia to Germany’s bitch-slapping Angela Merkel at the ballot box. All of these things have been open rebukes of EU leadership and it’s insane neoliberal push towards the destruction of national sovereignty and identity.
And what has propped up this slow train-wreck to this point has been the world’s financial markets inherent need to believe in the relative infallibility of its central bankers.
Because without competent people operating the levers of monetary policy, this whole thing loses confidence faster than you can say, ‘Bank run.’
The confluence of these things with the big changes happening politically here at home with President Trump are creating the environment for big trend changes to begin unfolding.
And, as always, you have to look to the sovereign bond and credit markets to see what’s coming.

This post was published at Zero Hedge on Thu, 12/28/2017 –.

Five Things Professors Actually Said In 2017

Via Campus Reform,
Most Americans expect college professors to be beacons of knowledge and wisdom, or at least to exercise more maturity than their teenage students.
***
Every year, however, Campus Reform comes across professors who unashamedly make outrageous, preposterous, and downright absurd remarks in their classrooms and on social media, denigrating conservatives and their viewpoints.
In 2017, President Trump’s first year in the Oval Office brought academic rage to new heights as professors frequently blasted the Commander-in-Chief and berated his voters, traditional conservatives, and anyone who does not embrace progressivism.

This post was published at Zero Hedge on Wed, 12/27/2017.

Tax Plan Jitters Cause Sudden Collapse In Manhattan Apartment Prices In 4Q

Apparently the combination of a massive flood of excess supply in the form of new luxury developments and a Trump tax plan that penalizes people living in expensive cities by capping SALT, mortgage interest and property tax deductions was simply too much for the Manhattan real estate market to ignore in 4Q 2017. After reaching an all-time high of nearly $1.2 million in 2Q 2017 (chart per Douglas Elliman)…

…the Wall Street Journal this morning notes that median Manhattan apartment prices have dropped to $1.08 million in 4Q 2017, down 9.8% compared to the peak set earlier this year.
Not surprisingly, Pamela Liebman, the president of New York real estate broker The Corcoran Group, attributed the pause by Manhattan buyers to the tax bill and said that folks are increasingly convinced that prices peaked in 2017 and may continue to be under pressure.

This post was published at Zero Hedge on Dec 27, 2017.