Senate Approves Trump’s Tax Reform

The U. S. Senate on Saturday narrowly approved a tax reform, moving Republicans and President Donald Trump a big step closer to their goal of slashing taxes which will create an economic boom in the United States and draw-in capital from around the globe.
This will put tremendous pressure upon Europe, Canada, and even Japan which all tax their economies significantly to the suppression of economic growth. The United States will have the lowest unemployment rate if this passes compared to the lost generation in Europe of high unemployed youth.
Armstrong Economics

This post was published at Armstrong Economics on Dec 2, 2017.

Volatility Traders Suddenly Scared Of (Stock) Heights?

Via Dana Lyons’ Tumblr,
Despite the S&P 500’s jump to new all-time highs, trading in the short-term volatility market is signaling elevated levels of fear.
We mentioned yesterday that some strange developments were afoot in the stock market lately. Well, the strangeness continued through yesterday’s market action. Today we look at unusual activity in the volatility market – specifically, in the S&P 500 Short-Term Volatility Index, a.k.a., the VXST. Similar to the VIX, the VXST measures volatility expectations over the next 9 days, versus the VIX’s duration of 1 month. And like the VIX, the VXST typically moves counter to the movement of the S&P 500 (SPX). That hasn’t been the case this week.

This post was published at Zero Hedge on Dec 2, 2017.

Did Trump Just Admit to Felony Obstruction?

Two dumb things here. First, Trump is stupid enough to own and use an iPhone.
But second, and not-at-all tongue-in-cheek, is the content of this tweet.
If Trump fired Flynn knowing Flynn had lied to the FBI and then attempted to get Comey to drop the investigation into Flynn’s conduct (which he has also admitted to doing, which there is documentary evidence of, and which occurred after he fired Flynn) then Trump knew at the time he asked Comey to “let it go” that Flynn had committed a felony offense.

This post was published at Market-Ticker on 2017-12-02.

GOP Releases All 479 Pages Of The Tax Reform Bill – “Vote-A-Rama” Begins

The Senate tax bill is headed for a potentially unlimited series of decisions on possible amendments – known as ‘vote-a-rama’ – as the full text of the revised bill has just been released.
As Bloomberg reports, it’s unclear how long that process might take, though we do note that unlike Obamacare, Senators will at least get to see what’s in the bill before they vote on it.
Democrats could spend hours offering numerous amendments meant to highlight any flaws they believe the bill contains.

This post was published at Zero Hedge on Dec 1, 2017.

What Is Behind China’s Bond Rout?

Until a modest dip in Chinese bond yields in the past two days, 10y CGB and 10y policy bank bond yields soared by 40bps and 70bps, respectively, over the last 2 months. In fact, Chinese government notes are headed for the worst selloff since 2013, with the 10-year yield surging 86bps this year to 3.92%, and the yield of 10y CDB bonds rose above 5%. This bond rout and sharp spike in rates, caught the market by surprise, as the economic growth actually slowed in October and inflation is still below 2%.

This post was published at Zero Hedge on Dec 1, 2017.

How Trump Mercilessly Trolls The Media In Five Simple Steps

Almost every morning Americans wake up to yet another Trump tweet storm that sends MSNBC’s ‘Morning Joe’ hosts and guests into an absolute frenzy that begins with modest expressions of ‘outrage’ and ends with Joe Scarborough once again offering up his ‘professional’ medical opinion on Trump’s mental health just before calling for his immediate impeachment.
Of course, as Axios points out today, that daily ‘Morning Joe’ meltdown is all part of Trump’s simple 5-step plan to manipulate the media into covering precisely what he wants them to cover. Here’s how it works…
Step 1: Throw an early morning Twitter bomb, usually but not always timed to “Fox & Friends” fodder or reinforcement. The Tweet-bomb frequently hits “fake news” or some social topic with racial undertones. Within minutes, thousands of Trump’s Twitter followers retweet it, and the sparks fly in response. Trump knows this and has bragged to staff about the storm he’s stirring as he hits “publish.” The data: As president, Trump has tweeted about fake news 124 times, mostly before 9 a.m., and his tweets about fake news average more retweets and likes.

This post was published at Zero Hedge on Dec 1, 2017.

Editor Apologizes For Running “White Death” Opinion Piece

Authored by Rob Shimshock via The Daily Caller,
An editor for a student paper apologized for an op-ed a student journalist asserted that ‘white death will mean liberation for all,’ according to a Wednesday report.
Rudy Martinez, a Texas State University student journalist for The University Star, wrote an article entitled ‘Your DNA Is An Abomination,’ referring to the DNA of white people, reported The College Fix.
‘The original intent of the column was to comment on the idea of race and racial identities,’ said Denise Cervantes, The University Star’s editor-in-chief, in a statement. ‘We acknowledge that the column could have been clearer in its message and that it has caused hurt within our campus community.
We apologize and hope that we can move forward to a place of productive dialogue on ways to bring our community together.’

This post was published at Zero Hedge on Dec 1, 2017.