David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge

Please see the source for the video.

 

David Stockman is warning about the Trump administration’s tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off.

Stockman, the Reagan administration’s director of the Office of Management and Budget, isn’t stepping away from his thesis that the 8½-year-old rally is in serious danger.

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Wall Street Banks Warn Downturn Is Coming

Societe Generale SA

 

  • HSBC, Citigroup, Morgan Stanley say end of market boom is nigh
  • Breakdown in trading patterns is signal to get out soon

HSBC Holdings Plc, Citigroup Inc. and Morgan Stanley see mounting evidence that global markets are in the last stage of their rallies before a downturn in the business cycle.

Analysts at the Wall Street behemoths cite signals including the breakdown of long-standing relationships between stocks, bonds and commodities as well as investors ignoring valuation fundamentals and data. It all means stock and credit markets are at risk of a painful drop. Continue reading

Steve Bannon: ‘We’re at economic war with China,’ there’s no North Korea solution

In an interview that included a wide range of topics, Bannon said “We’re at economic war with China,” and that the U.S. is at risk of losing. “If we continue to lose it, we’re five years away, I think, 10 years at the most, of hitting an inflection point from which we’ll never be able to recover.”

In the interview, Bannon urged tough trade sanctions against Beijing, and said China is unlikely to force North Korea to give up its nuclear weapons program. Continue reading

Deutsche: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out

 

Two weeks after Aleksandar Kocic highlighted the moment in 2012 when the market stopped caring about newsflow and reality, and, in a word “broke” with pervasive complacency setting in regardless of macro uncertainty…

… Deutsche Bank’s post modernist master of stream-of-consciousness narrative is back with a new essay dissecting his favorite topic, the interplay between the Fed and markets, the so-called “umbilical limbo” that connects the two in the form of ultraeasy monetary policy and QE in general, and more importantly, the narrative that the Fed has spun over the past ten years, which while supportive of risk assets, has concurrently resulted in what Kocic calls a “permanent state of exception” from normalcy as a result of the Fed decision to defer the financial crisis indefinitely. Continue reading

Machine Intelligence Comes to Nasdaq

Machine Intelligence Comes to Nasdaq

 

Wall Street firms and traders are moving more and more into the realm of AI’s and new tech.

The latest improvment will come from Nasdaq Inc. Fund managers and some traders will get some help starting Tuesday in using data from sources like social media, announcements from central bank and retail sentiment to help improve their bottom line. Continue reading

Ron Paul Warns: “Second Financial Bubble Going To Burst Soon… Even Trump Can’t Stop It”

 

By all appearances notes SHTFPlan.com’s Mac Slavo, President Trump is doing his damnedest to turn around the economy, revitalize jobs and bring back prosperity. But the larger trends are already in place; the cycle is turning, and the bust cannot be put off forever.

Federal Reserve policy has literally set the country up for collapse, and though the central bank has been very creative in making the impossible work, and putting off disaster, nothing can hold back the flood forever.

Unfortunately, it looks like Trump may be blamed for a financial crisis that he didn’t cause. Analysts, including notably Brandon Smith, may be correct in pinpointing the attempt to use the new and highly controversial president as a scapegoat for the dirty work of the bankers.

The conditions are there, and the consequences were built in when the bubble was still being pumped up. Someday it will burst. When, how, and how bad remains to be seen.

If former Rep. Ron Paul (R-TX) is correct, an Economic Doomsday is here. The second financial bubble is going to soon burst, and there’s nothing anyone can do about it. That’s because, as Paul stated, the Federal Reserve has set up the American economy for financial collapse for printing trillions of dollars back in 2008 and 2009. Continue reading

Jack Ma: America has wasted its wealth

 

Jack Ma, one of China’s most successful and richest entrepreneurs, has responded to America’s growing globalization backlash, arguing that the superpower has benefited immensely from the process – but that it has largely squandered its wealth.

“American international companies made millions and millions of dollars from globalization,” Ma – the founder of Alibaba, the world’s largest online retailer – told participants on the second day of Davos. “The past 30 years, companies like IBM, Cisco and Microsoft made tons of money.”

The question is: where did that money go? It was wasted, Ma explained. Continue reading

The Termination of Cash Approaching Rapidly

The hunt for money is intensifying with the aid of banks no less. India was the balloon. They simply canceled the current with no notice and imposed a 90% tax on anyone holding the high denomination notes. This is how the world governments operate. The first bail-in was done in Cyprus. We were even contacted by members of the government trying to push back against the EU. We provided the solution, but the government did what the EU wanted because this was a test. If they got away with it in Cyprus, then the “bail-in” would become a contagion. The politicians lied, as usual, and said that policy would NEVER be applied in Europe. It is now standard around the world. We warned, Cyprus, then Greece – who would be next. Continue reading

Eurozone banks are in DEEP trouble: Wall Street top bankers issue warning to EU

EUROPE’s biggest banks are vulnerable and pose a huge risk to financial stability, according to some of Wall Street’s top bankers.

Financial heavyweights from the US and Switzerland joined forces to sound the alarm over Deutsche Bank and its peers.

Goldman Sachs’ president Gary Cohn hit out at eurozone banks for failing to clean-up their balance sheets after the financial crisis. Continue reading

The Collapse of Western Democracy

If you don’t believe today’s infiltrated and corrupted America would wage economic warfare on its “ally”, Great Britain, think again. It already happened. You just missed the boat:

S&P cuts UK credit rating on Brexit fears

 

In the US Donald Trump has won the Republican presidential nomination. However, Republican convention delegates are plotting to deny Trump the nomination that the people have voted him. The Republican political establishment is showing an unwillingness to accept democratic outcomes.

The people chose, but their choice is unacceptable to the establishment which intends to substitute its choice for the people’s choice. Continue reading

China Is Preparing for Conflict – and Why We Must Do the Same

Always remember, as explained by Mr. Chi Haotian, Minster of Defense and vice-chairman of China’s Central Military Commission, extermination of America is the goal of China.

In February of 2010, hand-to-hand combat with America within 10 years was promised by Colonel Meng Xianging.

Anyone who doesn’t see the danger from these credible warnings straight from the Chinese regime itself is definitely not awake. Sadly, such is the current state of America where shopping until you drop is the number one priority.

Note: Due to the the article being highly recommended for anyone to read so that it raises awareness, it will remained archived here in full.

 

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Ever since Richard Nixon opened relations with Communist China in 1972, Chinese intentions have been a matter of incessant and often fevered speculation in this country.

In particular, national security and regional experts, non-governmental organizations and office-holders alike, have endlessly debated whether the People’s Republic of China could be brought into a U.S.-dominated international order and world economy in a manner consistent with American interests and, better yet, as a partner in opposition to mutual adversaries (e.g., the Soviet Union, North Korea, and the global jihad movement). Continue reading

Rich and powerful warn robots are coming for your jobs

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Some of the richest, smartest and most powerful humans have an important message for the rest of us as they convened this week to discuss pressing global issues: the robots are coming.

“Most of the benefits we see from automation is about higher quality and fewer errors, but in many cases it does reduce labor,” Michael Chui, a partner at the McKinsey Global Institute, said on Tuesday during a panel on “Is Any Job Truly Safe?”

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The Fed Sends A Frightening Letter To JPMorgan, Corporate Media Yawns

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Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system.

A rational observer of Wall Street’s serial hubris might have expected some key segments of this letter to make it into the business press. A mere eight years ago the United States experienced a complete meltdown of its financial system, leading to the worst economic collapse since the Great Depression. President Obama and regulators have been assuring us over these intervening eight years that things are under control as a result of the Dodd-Frank financial reform legislation. But according to the letter the Fed and FDIC issued on April 12 to JPMorgan Chase, the country’s largest bank with over $2 trillion in assets and $51 trillion in notional amounts of derivatives, things are decidedly not under control. Continue reading

Here We Go Again: Obama Pushes Banks To Lower Home Loan Standards

Right out of the Clinton 90’s playbook that brought you the 2008 financial crisis:

 

Recently, White House Press Secretary Josh Earnest said the following: “One of the key legacy achievements of this presidency will be the important reforms of Wall Street. Those reforms have led to a financial system that is more stable and ensures that taxpayers are not on the hook for bailing out financial institutions that make risky bets.” Continue reading

China stocks plunge, triggering another market halt

China halted stock trading Thursday, its second day-long trading suspension this week, after prices plunged in the latest spasm of investor panic on its volatile markets.

Chinese markets have lurched up and down as regulators gradually withdraw emergency measures imposed after the main stock index plunged in June following an explosive rise. Continue reading