Tuesday, December 13, 2016

Today's Links

Today's quote: "Trump’s election destroyed two American crime families in one fell swoop: the Clintons and the Bushes. If you’re not cheering this, you darn well should be." Lew Rockwell

1--Market running 'ahead of reality' over Trump policies: CNBC Fed Survey

More than 80 percent say the market's recent gains are driven by expectations of policy changes from the new administration rather than economic fundamentals. And more than half of respondents say the market's expectations for those policy changes under Trump are too optimistic.

"A lot of assumptions are being made on the effect Trump has on the economy, but for my taste there is too much uncertainty, seeing as how he has not yet been sworn in," wrote Lou Brien, an analyst at DRW Trading Group.

Respondents gave Trump's economic policies generally positive marks, with 88 percent saying they will increase growth at least somewhat and 68 percent saying they will increase jobs. But 93 percent say those policies are likely to increase inflation and 94 percent say they will increase the deficit, with more than half of those saying they will increase deficits significantly.

The CNBC Fed Survey for December finds its Wall Street respondents forecasting more aggressive Federal Reserve rate hikes and believing the market is too optimistic about the policies of President-elect Donald Trump.

"Expectations in the stock market are beginning to run ahead of reality," Marshall Acuff, managing director of Silvercrest Asset Management, wrote in response to the survey.

Fully 96 percent of respondents expect the Fed to hike rates on Wednesday, which will mark the first rate hike in a year and the second in a decade. A 44 percent plurality see the next hike coming in May, with February being the second choice. The survey, conducted Thursday and Friday, got responses from 46 people, including economists, fund managers and analysts....

On specific policies, cuts to business taxes and regulations got the highest marks, with somewhat less support from the group for individual tax cuts. Trump's trade policies received deeply negative grades.

Six in 10 respondents say Trump will not be able to impose the 35 percent tariff he has threatened on companies that send jobs overseas and 85 percent say it will hurt growth at least somewhat.

2--Fmr. Dallas Fed President Richard Fisher: The market dropped 20 percent after we elected Reagan

3--US households now have over $16,000 in credit card debt

4--McConnell, Warning of ‘Dangerous’ Debt, Wants Tax Cut Offsets

5--"What you're basically seeing is a romance of reflation. It comes from the president-elect's emphasis on pro-growth policies," said El-Erian

Post-election rallies in stocks and bond yields are the result of a "romance" with President-elect Donald Trump's proposed policies of corporate tax reform, infrastructure spending and reduction of regulations, economist Mohamed El-Erian told CNBC on Monday.
"[Trump] has changed expectations about three things: liquidity, growth and inflation. And that has had a huge impact, not just on the stock market, but the bond market as well," Allianz's chief economic advisor said on "Squawk Box."

6--Give it up, Hillary--Clinton campaign backs electors' request for Russia info before Electoral College vote

Hillary Clinton's campaign has backed a request from a bipartisan group of Electoral College electors to have the national intelligence director release findings related to Russia's role in the U.S. election before they vote on Dec. 19.
"The bipartisan electors' letter raises very grave issues involving our national security. Electors have a solemn responsibility under the Constitution and we support their efforts to have their questions addressed," Clinton campaign chairman John Podesta said in a statement Monday.

7--Hillary's Coup

Peter Van Buren, a former State Department Foreign Service Officer, said he is “deeply frightened.”

“We are looking at serious mainstream people in the US who are seeking to overturn an election. People voted, 62 million people voted for Donald Trump, the majority of electoral votes went to Donald Trump under the system that the US has had for more than 200 years. People are unsatisfied with that result. And they are now seeking to overturn it. There were efforts for a recount; those didn’t succeed. There are political scientists claiming that we should postpone the Electoral College vote or tempt to manipulate it so that electors do something they’ve never done in the history of the US. And failing all that, we are going to blame a foreign power for influencing our election and use that as a tool to overturn the democratic process and change an election in a democratic nation. That leaves me frightened”, Van Buren told

8--Aleppo Is Liberated By Govt Forces

9--ISIS fully retakes Palmyra in stunning blitz offensive

10--US Foreign Policy establishment hates Trump

Behind the effort to smear Tillerson and delegitimize Trump lies a larger motive. Trump has antagonists in both parties who alarmed at his triumph because it imperils the foreign policy agenda that is their raison d’etre, their reason for being.
These people do not want to lift sanctions on Moscow. They do not want an end to the confrontation with Russia. As is seen by their bringing in tiny Montenegro, they want to enlarge NATO to encompass Sweden, Finland, Ukraine, Georgia and Moldova.

They have in mind the permanent U.S. encirclement of Russia.
They want to provide offensive weapons to Kiev to reignite the civil war in the Donbass and enable Ukraine to move on Crimea. This would mean a war with Russia that Ukraine would lose and we and our NATO allies would be called upon to intervene in and fight.

Their goal is to bring down Putin and bring about “regime change” in Moscow.
In the campaign, Trump said he wanted to get along with Russia, to support all the forces inside Syria and Iraq fighting to wipe out ISIS and al-Qaida, and to stay out of any new Middle East wars — like the disaster in Iraq — that have cost us “six trillion dollars.”
This is what America voted for when it voted for Trump — to put America First and “make America great again.” But War Party agitators are already beating the drums for confrontation with Iran

11--Top U.S. spy agency has not embraced CIA assessment on Russia hacking

12--Betsy DeVos: Religion and profit in the war on public education—Part 1

13--Prologue to a broader war-- White House, Clinton campaign intervene in conflict over Russian hacking charges

What is now being revealed are the issues both campaigns in the 2016 election sought to conceal: the far-reaching preparations for an escalation of global warfare and the sharp disagreements over the direction of Washington’s predatory foreign policy.
There is not an ounce of democratic content in the positions of either faction of the state and intelligence apparatus and nothing to choose from between the arch-reactionary Trump and the veteran warmonger Clinton. However the disputes are resolved, the result will be a massive escalation of war abroad and the attack on the working class within the United States

In an editorial Monday, the New York Times made clear the goals of the Clinton faction. “Hillary Clinton, the Democratic nominee, made it clear her administration would redouble efforts to punish and isolate Moscow for war crimes in Syria’s civil war and its aggression toward Ukraine and other neighbors,” the newspaper wrote. It favorably quoted Clinton’s statements during the campaign that she had “taken Putin on” and “would do that as president.”...

While endlessly repeating unsubstantiated charges of Russian hacking, the Democrats have largely dropped any reference to the one state agency that clearly did intervene in an effort to shift the election toward Trump—the FBI. In the immediate aftermath of the election, the Clinton campaign cited the intervention of FBI Director James Comey into the scandal over Clinton’s emails as a major factor in her defeat. This is now being downplayed in favor of denouncing Russia....

“We now know that the CIA has determined Russia’s interference in our elections was for the purpose of electing Donald Trump,” Podesta stated. “Electors have a solemn responsibility under the Constitution and we support their efforts to have their questions addressed.”

The frenzied character of the Democratic Party-led campaign, accusing Russian President Vladimir Putin of manipulating the US election and portraying Trump as his agent, was summed up by the statement of former acting CIA Director Michael Morell, who called the alleged intervention by Russia “the political equivalent of 9/11.”

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