Pending Home Sales rose just 0.2% YoY in October, among the weakest of the year.
This is made more troublesome since these sales occurred before the election, before the mortgage rate exploded higher and before mortgage applications collapsed…
We are sure Yellen has this all “contained.”
The surge in strong economic data continued moments ago when the Chicago PMI printed at a whopping 57.6, surging from last month’s 50.6, and print not only above the consensus estimate of 52.5, but also above the highest forecast provided by 32 economists. This was the highest print since January 2015. Four of the five Barometer components increased, with only Employment falling.
The increase added momentum to the fourth quarter, with the three-month trend ascending to 54.1 this month, up from 52.1 in the three months to October.
According to MNI, the rise in New Orders contributed the most to the increase in the Barometer, increasing 10.7 points to 63.2 in November. Production also rose, regaining virtually all of October’s fall. Order Backlogs jumped out of contractionary territory, where it had been over the past three months, while Supplier Deliveries saw a smaller rise. Despite higher orders and output, demand for labor fell. Employment slipped back into contraction, making last month’s recovery short-lived.
This month’s special question asked firms how they expected business activity to fare in 2017. Most respondents expected businesses to do somewhat better than in 2016. Most respondents expected their business to grow less than 5% next year but there were many who were more optimistic and expected growth to be above 10%. The path of interest rates and the election outcome were said to be important factors that could impact activity in the coming year.
Companies increased their stock levels at the fastest pace since October 2015, with the Inventories Indicator moving back into expansion in November.
Inflationary pressures at the factory-gate eased slightly after picking up last month. Prices Paid fell to 56.8 in November, although staying above the 12-month average of 52.2.
“The November reading for the Business Barometer marked the sixth month of expansionary business activity in the US. Strength in orders, a recovery in oil prices and the stronger dollar have all impacted businesses with varying degrees.
“Respondents to our survey also remain optimistic about business activity in 2017 although the new government’s policies and the Fed’s approach towards monetary tightening would impact the course of business activity over the next year.” said Shaily Mittal, senior economist at MNI Indicators.
Protected by their constitutional freedoms, Reuters reports that a small group of hard-left activists burned foot-long U.S. flags outside the Trump International Hotel in New York on Tuesday, in an angry response to a tweet by President-elect Donald Trump that flag-burners should face legal consequences.
Following Donald Trump’s tweet yesterday…Which was supported by Hillary Clinton in the past, protesters burned United States flags in New York.
U.S. media outlets, including the New York Times, published articles detailing the court rulings, and some Republicans as well as Democrats took to social media to say Trump was in effect threatening to punish dissent despite constitutional protections.
The U.S. Supreme Court ruled in 1989 that flag-burning was not a crime but rather a form of protest protected by the First Amendment of the Constitution. The high court has also ruled more than once that citizenship cannot be revoked.
The activists included members of the Revolutionary Communist Party, which the news outlet notes is not part of the Community Party of the United States.
The Post should be dropped as a news site
The Tea Party now Alt-Right or what ever, has attacked the government run media machine and beat them at their own game; this “Witch” hund is a method to nullify their influence by creating a false narrative. Once Trump is in and he takes control of the government this propaganda will be stopped or at least will not be supported by the Trump administration.
We now return to your regularly scheduled human fish tank courtesy of President Elect Donald Trump and the fine people at RSBN. Who will appear today? You can actually find out for yourself even b…
Source: Trump Tower Elevator Cam Live Stream – 8:00am to 6:00pm…
QUESTION: Hi Marty, there is something circulated around that if the three states being hand recounted by Stein are not counted by Nov. 13th that the electoral votes from those states will be void and thrown out and giving the win to Hillary. How plausible is this?
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ANSWER: That seems to be populated by Edward Foley, an expert in election law at Moritz College of Law at Ohio State University. That is very misleading. Yes the absolute deadline is Dec. 19th, 2016 when electors around the country must meet to cast their Electoral College votes. However, whatever the vote is on the 13th stands. Foley said: “That is a hard deadline and if a state were to miss that deadline, it would be technically in jeopardy of not having its electoral votes counted.” The likelihood of that would be below ZERO. A recount would by no means prevent that vote on the 19th. In fact, if the recount were not completed in time, then the people’s vote stands. Therefore, if the recount is not finished by the 13th, then the electors must vote accordingly.
If a state failed to vote by December 19th, you would really have a Constitutional Crisis that would compel the Supreme Court to enter. The people of that state would have just cause for bringing an action against the state officials and that could even be criminal. Moreover, the GOP would not allow that and stand ready to go to court.
The Green Party candidate Jill Stein has filed suit after Wisconsin declined to require county officials to recount the votes by hand, which is pointless especially when Pennsylvania is all electronic. What is she really doing? Her lawsuit could delay the process and she gets to keep all the money. Under state law, the recount must begin this week as long as Stein or another candidate pays the $3.5 million estimated cost of the recount by Tuesday. Meanwhile, Stein filed a lawsuit yesterday in Pennsylvania to force a recount there and her supporters began filing recount requests at the precinct level in Pennsylvania. She also plans to ask for a recount in Michigan on Wednesday.
By filing these suits, she must show clear and convincing evidence that the vote could change and there was some fraud. That really does not exit. She gets to keep all the money if she pretends to demand recounts but fails to get them. This appears to be a scam and without overturning all three states, nothing changes. Further proof that Stein is a con-artist is that even Obama has come out and said: “We Stand Behind Our Election Results.” This is the most dishonest scheme and on par with the corruption in politics. She only raised $3.5 million for her own election.
Stein is exploiting the nation for personal gain. Filing these lawsuits may actually prevent a recount, and then she can keep all the money and say she made a best effort as her site guarantees. This is really a total fraud and borders on criminal activity especially under consumer laws. She should be forced to return all money or go to jail. There is no evidence of such a fraud to warrant a recount and even Obama says there is no question about the vot
Gallup first began asking if Americans trusted the mainstream media in 1972. America’s trust and confidence in mainstream media stood at its highest level back in 1976 at 72%. Of course, that was due to the investigative journalism regarding Vietnam, and naturally Woodward and Berstein, with the Watergate scandal. Following that period, the media began to attack the right with Reagan. By the late 1990s, the Americans’ trust in the media fell steadily into the low to mid 50% level.
Following 2005, the trust in mainstream media dropped into the mid 40% range. It has consistently been below a majority level ever since the 2007 economic decline. However, after the 2016 election and the extreme bias for Hillary, where virtually 99% of mainstream media deliberately tried to manipulate the people to vote for Hillary, the trust factor has collapsed to 32%. When they polled just conservative Republicans, it was 14%. So the 32% level is the average American.
Our models on the confidence in American mainstream media using the Gallup Poll data projects a sharp decline into 2019/2020, which is the bottom of the current 8.6-year Economic Confidence Model. This will be 43 years from high. Note that 2007 was 31 years from that peak. It was 2007 and the collapse in the economy that has marked the collapse in public confidence in government and the media.
We should expect that the media will viciously attack Donald Trump in a futile effort to cling to some level of importance and to desperately try to demonstrate that they were not wrong with 99% of the media endorsing Hillary. But the media willingly conspired to make Hillary president. They will now try to vindicate themselves by trashing Trump at every possible chance. They will now fuel the civil divide and help lay the foundation for the collapse of the United States itself by turning left against right. Even the New York Post wrote that what they were witnessing was the end of journalism. They will do everything to try to change Congress in 2018. It appears that will be their last stand. The younger generation does not buy newspapers and magazines. Their end is near.
Trump summoned the mainstream TV media to Trump Tower for a meeting. Whether he can persuade them to stop the supporting of civil unrest remains to be seen. Lester Holt, Charlie Rose, George Stephanopoulos and Wolf Blitzer all headed to this private meeting. All have demonstrated outrageous bias and have disgraced the very purpose of a free press as they all tried to influence the people rather than report the news. Even Saturday Night Live made fun of how biased mainstream media has been.
Who Should be Trump’s Secretary of State?
The key question as to who should be Secretary of State has loomed quite prevalently in the media. The following names have been bandied about for some time:
As someone who has served under five Sec’s State during a thirty year period, I found certain psychological/political considerations quite important to a successful Sec State:
I won’t bother to annunciate which of the past Sec States were most successful in my humble opinion. However, I will provide some initial impressions of the potential candidates who are soliciting the job of Sec.State under the Trump Team.
Dana Rohrabacher [R] Calif.born and bred within the conservative perimeters of Orange County. He chairs the US House Foreign Affairs Committee on Europe, Eurasia and Emerging Threats. His personal history denotes an interesting combination of a folk singer and free-market anarchist with membership in the Young Americans for Freedom. He was financially supported by Charles Koch and Oliver North and ended up to become a speechwriter for Ronald Reagan.
His field of expertise seems to be within the Libertarian-Conservative domestic realm of politics. Clearly, he has some outreach to a variety of countries including Iraq, Afghanistan, Iran. Dana would best serve this country by remaining where he is right now, defending the ‘little man’ against patent infringements and other domestic matters.
Ambassador John Bolton is an American lawyer and diplomat who has served in several different Republican Administrations [wiki]. I have known John for quite some time. I find him to be pleasant, bright,and accommodating. When I needed the necessary moneys for the Cambodian Peace Treaty in 1991, he stepped up to the plate and offered his good services as then Assistant Secretary of State.
My problem with John is that he was a hard core Neo-Conservative who belongs to such extreme right groups like the Jewish Institute for National Security [JINSA] and the Institute of East-West Dynamics. Equally problematic for me, is that at heart he is a Mitt Romney devotee and did not support Trump until very late in the election cycle. Also, during the Vietnam War, he joined the Maryland Army National Guard as a way to avoid service in Vietnam [wiki].
Gov. Mitt Romney [R] is elegant, bright, articulate and completely unfit to be Sec. State. From the very beginning of his run for the Republican Presidential Election of 2012, he was incapable of initiating an effective dialogue with the American public. His primary assets are in the realm of business: buying, selling, financing.
Romney has no foreign policy experience. Moreover, he has never managed an institution as large and widespread as the State Dept.
However, he could play the role of a Sec. State in an Hollywood movie. He looks like one but that is not enough! Sorry!
Former NYC Mayor Rudy Giuliani has been campaigning for the position of Sec. State for as long as he has opportunistically helped the Trump campaign. He came out of the US Attorney General’s office as a prosecutor/litigator. Like many of the right wing conservatives, he too sought a draft deferment, preferring to allow other Americans to fight and die in some forgotten place for unknown reason.
He is as fickle and chimerical as any political animal whom I have been observing. In the beginning of his career, he voted/worked for Liberal Presidential Candidate George McGovern in 1972. Rudy’s allegiance will follow anyone or anything that will allow him to continue his obnoxious self-aggrandizement in the press and TV/Cable.
He became an Independent and finally a Republican when it was suitable for him to work for Reagan. His boisterous, self-deprecating humor is both disingenuous and disturbing. It’s hard to think of him as anything other than the Bush Jr pimp who brought 158 dump trucks within twelve hours of the 9/11 stand down/false flag to carry away the necessary evidence of a potential crime scene.
Furthermore, Guiliani is notorious for public charges that were bereft of any convincing evidence in high profile Wall Street cases in which he wanted to create a faux gangbuster personae. The one I remember best was the humiliation of Richard Wigton of Kidder Peabody and & Co. for insider trading on February 1987. Wigton was marched through the office handcuffed to make some ridiculous point. Wigton was discharged because Rudy had no real evidence to incriminate him for insider trading. Rudy’s judgement was always crippled by his bellowing narcissism.
In 2000, Guiliani appointed 34-year-old Russel Harding to head the NYC Housing Development Corps. Five years later, Harding was convicted for defrauding this organization as well as indulging in child pornography. Harding turned out not to have a college degree nor any experience for that particular job. Another scintillating Rudy pick-of-the-month was Michael Chertoff, our favorite Homeland Security Neo-Con, completely compromised by the 9/11 stand down.
Gen. David Petraeus, former Director of the CIA, has extensive overseas experience in the conflict areas where present day diplomacy is mostly required. Although he violated national security secrets by passing along eight TS notebooks to his mistress, Paula Broadwell, he conveniently fits three of the four criteria that I had annunciated in the beginning of this blog.
He has been intimately involved in intelligence gathering and analysis. He has had successful experience managing over several hundred thousand troops in different areas of low intensity conflict.
He may not be close to Trump or his team. However, I think that can be overcome by the daily briefings Petraeus will have to make to POTUS. One might argue that we have too many military men in the Trump administration… I say “so what?”
Furthermore, Petraeus has earned a PhD from Princeton University under the tutelage of a very distinguished international relations scholar, Prof. Richard Ullman.
I have worked with many generals in all the branches of armed services. I still have to discover anyone who wanted to initiate a war for the sake of destroying countries like Iraq,Libya,or Afghanistan. It was the civilians who sent our brave men/women to war; not our senior military officers.
Possibly, we can enjoy a decade of peace because in Trump’s administration, we have men/women who have seen the disgusting nature of war. Experience teaches military officers to avoid inflicting anymore atrocities on our youth. Trump understands the need to shift billion$ from useless warmongering to support re-building of our dilapidated infrastructure.
The famous American humorist, Will Rogers, said the following:
“Diplomacy is the art of saying nice doggie until you can find a rock.”
Or, as Mick Jagger opines: “you can’t always get what you want but sometimes, you just might find, you get what you need.”
President-Elect Donald Trump took Mitt Romney to dinner this evening in New York City. As anticipated, the MSM turned the dinner into the primary event for the evening’s media coverage. Fol…
Source: Mitt Romney Speaks To Media Following Dinner With Donald Trump (video)…
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