Did Powell Just Spark “Shut It Down & Protect Returns” Mode Into Year-End?

The Powell-Put imploded this morning as The Fed Chair curb-stomped the ‘t’-word (transitory) and warned that “it is appropriate in my view to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner. I expect we will discuss that at our upcoming meeting.” That […]

Omicron Unlikely To Cause Severe Illness In Vaccinated Patients, BioNTech Founder Says

Update (1130ET): In Germany, Chancellor-in-waiting Olaf Scholz said Tuesday that the Bundestag would vote on whether to back compulsory vaccinations. He blamed the unvaccinated, raising questions about whether the Germans truly see the omicron variant as a threat. If so, will these mandatory vaccinations apply to a new round of omicron-specific vaccines? Elsewhere in Berlin, […]

China Intensifies Crackdown On Didi With New Ride-Hailing Rules 

Chinese regulators announced a new set of guidelines to increase governance over the country’s ride-hailing industry. Stuck in the crosshairs were SoftBank-backed Didi and other Chinese tech companies, according to Bloomberg.   Beijing continues ratcheting up regulations on tech companies to reshape its digital economy. The latest is six regulatory agencies, including antitrust watchdog, transport ministry, and […]

Alabama Amazon Warehouse Workers To Revote On Forming Union, Labor Board Official Orders

Authored by Katabella Roberts via The Epoch Times, A labor board official has ordered a revote for Amazon warehouse workers in Alabama regarding forming the company’s first unionized warehouse in the United States. The decision was issued Monday by a regional director of the National Labor Relations Board (NLRB) after an agency review found that Amazon improperly pressured warehouse staff […]

“Team Transitory” Is Dead After Powell Says “Time To Retire Word Transitory Regarding Inflation”

Remember when clueless macrotourists  and worthless econo-hacks who have zero understanding of actual economic dynamics spent miles of digital ink convincing their tiny echochambers that they were right and that inflation was transitory (or rather, desperately scrambled to mask their utter lack of grasp of even the simplest concepts): Team transitory won btw. pic.twitter.com/7CEwdC11h7 — […]

Stocks, Bonds, & Cryptos Crushed As Powell Threatens Accelerated Taper

Fed Chair Powell has been more hawkish than many expected during this morning’s hearings, specifically noting the non-transitory nature of inflation and the need to use his tools to address it. “At this point the economy is very strong and inflationary pressures are high and it is therefore appropriate in my view to consider wrapping […]

Rabobank: Brushing Up Our Greek Alphabets

By Michael Every of Rabobank Brushing up our Greek alphabets After a ‘sell first, ask questions later’ Friday, markets regained some confidence on Monday. News that Omicron may lead to relatively mild symptoms may have helped the mood, though much about the new strain still remains unclear, including how infectious it is compared to other […]

A Tale Of Two Cities: Kenosha Vs. Waukesha

Authored by Victor Davis Hanson via AmGreatness.com, Both Wisconsin towns, Kenosha, and Waukesha, about 50 miles apart by car, were the recent sites of multiple deaths. The violence in both made national news. Yet in contradictory ways both reflected the common themes of America’s current legal, media, and societal corruption.   The relevant public prosecutors in […]

Victim Hopes For Justice In Ghislaine Maxwell Trial

Authored by Charlotte Cuthbertson via The Epoch Times, Jeffrey Epstein molested her and she didn’t tell a soul for 17 years. Teresa Helm was 22, and she had already patched her life back together after being sexually abused by a close family member, starting at age 8. “I really suffered in silence,” Helm told The […]

China Sends Record 150 Jets Near Taiwan Over 4 Days, Keeping Up Pressure

China’s President Xi Jinping has just wrapped up a multi-day meeting with his top generals across major branches focused on military readiness. One key concern he articulated to the Central Military Commission was the recruitment of top talent toward the creation of a highly professional and skilled PLA military. No doubt military readiness related to Taiwan […]

San Francisco Homeless Insider Tells All

Authored by Michael Shellenberger via Substack, Why progressives defend and finance open drug scenes… In my new book, San Fransicko, I describe why progressives create and defend what European researchers call “open drug scenes,” which are places in cities where drug dealers and buyers meet, and many addicts live in tents. Progressives call these scenes “homeless encampments,” and […]

27 More Russian Diplomats Expelled From US – Kremlin Vows Retaliation

The United States is preparing to expel over two dozen more Russian diplomats by January, as part of  ongoing tit-for-tat punitive efforts which previously saw the Russian government forbit its citizens from serving as local staff for the US Embassy in Russia, greatly reducing its ability to process visas and other actions in a timely […]

Teacher Unions, Parents Gird For 2022 Battles

Authored by Susan Crabtree via RealClearPolitics.com, Over the last year, school board meetings have become ground zero for the country’s culture wars as irate parents have showed up in droves to decry school COVID closures, mask mandates, and critical race theory, as well as transgender policies. After political analysts credited a parental uprising with helping […]

China Has No Plans To Invite U.S. Politicians To Olympic Games 

Last week WaPo cited multiple officials within the Biden administration who said President Biden would soon declare a diplomatic boycott of the Beijing Winter Olympics. Before the White House could even announce a formal boycott for U.S. leaders – including Congressional members, Communist Party-backed Global Times said Monday that Beijing has no intentions to ask U.S. politicians […]

Nasdaq, Cryptos Erase All 'OmNicron' Losses After Biden Says “No New Lockdowns”

And just like that, it was gone… Nasdaq has roared back from its Omicron-triggered losses after President Biden said – despite some fearmongering over the need for vaccines (“cause for concern but not for panic”) for the “omNicron” variant (that he just could not say correctly) – “…US won’t need shutdowns, lockdowns this winter.” Biden […]

Could The Fed Trigger The Next “Financial Crisis”

Authored by Lance Roberts via RealInvestmentAdvice.com, Could the Fed trigger the next “financial crisis” as they begin to hike interest rates? Such is certainly a question worth asking as we look back at the Fed’s history of previous monetary actions. Such was a topic I discussed in “Investors Push Risk Bets.” To wit: “With the entirety of the […]

Here Are Goldman's Four Market-Moving Omicron Scenarios

Goldman Sachs is out with a comprehensive look at four scenarios for the new Covid-19 ‘Omicron’ strain, which at present appears to be less severe, yet possibly more virulent than previous strains. On Friday, the World Health Organization declared Omicron as a ‘variant of concern’ after several confirmed cases in South Africa and elsewhere, causing […]

Peter Schiff: It Was A Black-And-Blue Friday

Via SchiffGold.com, Last Friday was Black Friday and it was a black and blue Friday for investors. Just about everything was down and markets panicked over a new COVID variant. Peter Schiff talked about the market reaction in his podcast. Did the markets overreact? And what would happen if we did go into another global […]

Dow, Small Caps Give Up “Mild” Omicron Gains, Traders Bet On VIX Spike

While Nasdaq continues to hold rebound gains, The Dow and Small Caps have erased all the weekend’s “Omicron’s not all that bad” gains since the US cash equity open… Interestingly, there is some building anxiety under the hood as VIX calls expiring on Dec. 22 are among the most active options contracts in early Monday […]

Jack Dorsey Steps Down As Twitter CEO, Chooses Parag Agrawal As Successor

Update (1052ET): Dorsey has now unlocked his account and published a resignation later, ending a brief but notably news blackout on the platform about Dorsey, one of the company’s founders, leaving the top job for the second time. not sure anyone has heard but, I resigned from Twitter pic.twitter.com/G5tUkSSxkl — jack⚡️ (@jack) November 29, 2021 […]

US Pending Home Sales Soar In October

After surprising to the downside in September, October’s pending home sales soared 7.5% MoM, for greater than the +1% expected (from a downwardly revised 2.4% MoM drop). However, despite the jump, sales are down on a YoY basis for the 5th straight month… Source: Bloomberg The pending home sale index is back near post-COVID highs… […]

Key Events This Week: Payrolls, ISM, Home Prices And Fed Speakers Galore

As we head into December this week, there’s an incredibly eventful period ahead on the market calendar even outside of Omicron. As DB’s Jim Reid notes, we have payrolls on Friday which could still have a big impact on what the Fed do at their important December 15 FOMC and especially on whether they accelerate […]

One Trader's Bearish Market View On The Omicron Strain

While futures are sharply higher this morning – in line with Goldman’s reco not to panic and not to make portfolio changes – not everyone is as sanguine following the Friday puke, and this morning Mizuho’s head of Multi-Asset Strategy, Peter Chatwell, finds himself scratching his head, writing that he admits to “being somewhat surprised […]

Buying The Dip Is Suddenly A More Risky Business

By Michael Msika and Jan-Patrick Barnert, Bloomberg Markets Live commentators A lot of investors finally have what they wished for: a chance to buy the dip. The problem is uncertainty is much higher now. Friday’s selloff, fueled by the emergence of a new Covid-19 variant, brought a firm halt to the market’s exuberance of recent weeks. The […]

Oil Prices Extend Rebound After Iran Nuke Deal Comments

Oil prices had rebounded strongly overnight from the “panic” Omicron variant depths as the fearmongering from officials was beaten back by reality from science. WTI had held steady for a few hours until headlines hit as US-Iran nuclear talks resumed in Vienna. While there were already low expectations for progress, comments from the Iran Foreign […]

Blain: Biggest 'Omicron' Risk Is Margin Calls Triggering Something Deeper

Authored by Bill Blain via MorningPorridge.com, “When all around are losing their heads..” The Omicron Variant dominates the headlines, but will likely prove a short-term market factor. No doubt a renewed round of panicked responses, lockdowns, travel bans and Christmas threats will occur, but markets should take these in their stride – the biggest risk […]

The Ghislaine Maxwell Trial Starting Today Will Not Be Livestreamed

Is there another giant Epstein bomb about to drop? With the way social media blew up this weekend about the Ghislaine Maxwell trial coverage, one might think so. Over the last few days, messages on Facebook and Twitter have expressed disgust and skepticism about the fact that the Maxwell trial will not be livestreamed, similar […]

Chinese Spy Ship Stayed 3 Weeks Off Australia's Coast, Observing Military Bases

On Friday Australia’s Defense Minister Peter Dutton called out China for its disconnect between presenting itself as committed to peace versus the reality. “We’re all familiar with the frequent claims of the Chinese government that it is committed to peace, cooperation and development,” Dutton began in a speech in Canberra. “And yet we bear witness to […]

US Refuses To Engage With Marshall Islands On Nuke Damage

Authored by Dave DeCamp via AntiWar.com, The US is refusing to engage with the Marshall Islands on compensation for environmental and health damage caused by the dozens of US nuclear weapons tests carried out in the 1940s and 50s, The Associated Press reported Thursday. The Marshall Islands are home to a major US military base and are […]

Canada's Indigenous Health Expert Fired After Pulling Liz Warren Pocahontas Act

Canada’s top expert on indigenous health issues has been fired from her job and lost her professorship after suspicious colleagues revealed that her claims of Native American heritage were complete bullshit. Public health expert Carrie Bourassa, a total fraud, was the scientific director of the Canadian Institutes of Health Research’s Institute of Indigenous Peoples’ Health, […]

Why Crime Is Out Of Control In San Francisco

Authored by Michael Shellenberger via Substack, San Franciscans get what they voted for with Chesa Boudin… When Chesa Boudin ran for San Francisco district attorney in 2019, he said crime was caused by poverty, wealth inequality and inadequate government spending on social programs. He called prostitution, open drug use and drug dealing “victimless crimes” and […]

Jussie Smollett Criminal Trial Begins Monday For Alleged Hate-Crime Hoax

The criminal trial of former actor Jussie Smollett on charges that he staged a hate crime against himself is set to begin in Monday, after three years of delays into how the Chicago District Attorney handled the case. He has been charged with six counts of disorderly conduct for making false reports to the police. […]

Inflation Never Mattered Much For Crypto… Until About A Year Ago

Inflation never mattered much for crypto… until about a year ago. As UBS notes in its latest Crypto Keys note last week, forward-looking measures of US consumer prices today rank among the most prominent correlations for digital assets… …. something we first pointed out a month ago. Sensitivity to actual data prints is also mounting […]