Sure, market futures are up – over a hundred on the Dow – and we continue in “major blow-off mode” for possibly until January, by the look of things. Holidays, with the exception of last Christmas’ slaughter of the elves, are normally a time of rising spirits.
Yet with all the trade hype making the sounds, like “Dow futures jump 100 points after China says it has agreed (in principle) with the US to remove existing tariffs.” we don’t trust China being ready to settle anything. Might as well go ahead and color us skeptical on other fronts, too. Since a check of the Chinese Ministry of Trade website here doesn’t yield confirmation of sweeping US media reports. Say, wouldn’t be “someone talking their book” would it?
Could be. Since a more in-depth report (in Time) alludes to only removal of some of the punitive tariffs that had been a stumbling block to the talks. Hardly a “hundred-fifty point market mover” as we see it. Besides, nothing has actually changes. Only an agreement to talk about SOME removing punitive tariffs.
To our way of thinking, American (and global) markets have become addicted to any pseudo-news event that comes along. Factually, this is a yawner. Yet, earlier, the Dow futures were up 150 points.
Another reason to be skeptical? The trade war with China may have driven the country away from closer economic ties with the US. Notice: Chinese state media Xinhua reports that “China’s soybean yield sets new record.” This, coupled with reports that Chinese pork is coming to the American market, gives any thinking person “cause for pause.”
And if it doesn’t two other “big deals” in China to keep in mind.
First, the Chinese move “China’s issuance of euro-denominated sovereign bonds helps boost Sino-European financial cooperation” would certainly lend creds to the notion that China is ‘decoupling from the U.S. dollar.”
Second item to keep an eye on is the first freight train from China (overland) to European markets has passed Turkey, now.
As we have explained previously, though more on our Peoplenomics.com subscriber site, China is about to seriously lap the U.S. with it’s “Belt and Road Initiative (BRI)” that will tie it closely to Europe, and claim the Middle East and Africa as industrial feedstock providers.
Thanks to a ton of misleading headlines, (remember, it’s only agreement in principle to remove punitive tariffs, not all) Dow futures were up strongly ahead of the open.
The U.S. response? Stupidly immersed and distracted by internal politics as directed by mainly left-leaning media coverage.
U.S. Idiots Asleep At the Switch
Complicity of socialist-controlled media is clear in the Trump Ukraine phone call farce. The socialist-influenced media don’t want to reveal the name of the former Obama holdover in the White House who went to representative Schiff’s staff for consultations (coaching?) before filing his complaint. Has a certain odor, don’t you think?
The story in Forbes tries to pin it on a Trump. “Donald Trump Jr. Slammed For Outing Alleged Whistleblower, As Major News Outlets Decline To Publish Name .”
This is, in our view, classic socialist misdirection as an attempt to high the real leaker. Check The Gateway Pundit’s “Oops! ADAM SCHIFF Accidentally Leaks Name of Anti-Trump ‘Whistleblower” Eric Ciaramella in Bill Taylor’s Transcript! But wait! Let’s pin the leak on someone else.
Key thing to notice is how left-influenced media won’t get up on their high horse about protecting the Chief Witch Hunters, on the one hand, but they can’t seem to follow the ideas of open government, due process, as they continue their soft coup against an elected sitting president.
We also found the Gateway Pundit story ““It’s Going to Be Devastating. It’s Going to Ruin Careers” – Joe diGenova: IG Report Delayed Due to Durham Grand Jury – Several Obama DOJ Officials Will Be Indicted (VIDEO)” worth tracking.
Because it goes hand-in-glove with another corporate media cover-up of lefties: the alleged cover-up of Jeffrey Epstein by ABC – which reportedly spiked the story and some claim due to dirt on big name democrats that would come out.
To us, it’s pathetic that China trade is being over-hyped and the market’s obviously manipulated while the real crimes in the nation’s swamp leadership are only now coming into public view. The free press? No such thing, save the odd outpost like this one. Mostly, it’s a left-wing echo chamber.
Guess we will continue getting up to see what the latest layers of BS & cover-up are.
BTW, in the worthy part of the NY Times (biz sect.) there good related China coverage in “What a Financial Cleanup in China Looks Like: Seizures and Bank Runs/.” Worker’s paradise, anyone?
Fed: Economic Yoke of Oppression Report Due
At 3 PM (Eastern) today, the mode of the stock session could change as we find out if consumers are still spending. That’s when the Federal Reserve unleashes its latest Consumer Credit report. Called “Credit report” (banks are creditors, right?) It’s really a Consumer Debt Report for real people. You should observe the name gives it all away: In central banking, it’s all about them creditors, not us debtors.
This link should be updated with the latest report a minute, or so, after 3 PM today. Before then, it’s last month’s data. You can set a reminder. Or, drop by here tomorrow to see if I can hold my tongue on this and the Money Stocks report after the close.
Driving the market higher? Bjuy-backs: Companies “buying themselves” have a new poster-child of the day. GoDaddy shares surge on biggest buyback plan.
Sizing up Christmas is underway, too: Facing shorter holiday season, U.S. retailers rev up faster delivery, early deals/
How patient will Israel be? Iran says it will breach nuclear deal by enriching uranium at key facility. Not hard to predict a weekend air strike to shut ’em down. Just which weekend isn’t clear…and that would light off the 72-year war cycle existential war for Israel, since 72 comes up in 2020. May, isn’t it? So pencil in troubles in March-April. Which means a strike soon since the war will take 120-180 days of lead time for Iran or organize.
Here’s a weird one for you: Man dies in Hawaii after falling into a lava tube in his yard
Last, but not least, who knew the woolly mammoth was trapped in Mexico? Mexico mammoths: Human-built woolly mammoth traps found in Tultepec.
Which gets me to thinking of my own mammoth appetite, so off to the trough!
Write when you get rich and be back here tomorrow.
More or Less Useless
But sometimes interesting: