Bill Holter’s Commentary
Sadly Mr. Salinas Price is correct as he expands on what I meant when writing I “feared Mr. Trump would make a policy mistake”. Nationalism and “America first” was embraced and a key reason Mr. Trump won the election. Starting a trade war has precedent, please google “Smoot-Hawley” trade tariffs. As I have said before, no one can fix the problems created from what has already been done (think existing debt). He will simply preside over a bankruptcy …which will result in a reset of all values.
January 10, 2017
The president elect of the US, Mr. Trump, does not know what he is doing when he proposes protectionist measures to encourage the reindustrialization of the US and bring home again, the American industry that emigrated to foreign lands.
The US lost their industry as a result of the Bretton Woods Agreements, which were signed (under pressure) by representatives of the allied countries and of the countries conquered by the US in World War II. Those Agreements established the world’s monetary system for the post-war world, after the victory of the Allies, which was already in sight in 1944.
The monetary system was to be based on gold, which would be the world’s reserve currency, supplemented by the American dollar, which was to be considered “as good as gold”. So the world’s monetary system was founded upon a lie: that a promise can be as good as the physical thing it promises.
Jim Sinclair’s Commentary
The lastest from John Williams’ www.shadowstats.com
– November Trade Deficit Widened Sharply, Setting the Stage for the Worst Quarterly Real Merchandise Trade Deficit Since 2007, and Taking a Large Chunk Out of Fourth-Quarter 2016 GDP Growth
– Nonsense Employment Detail: Payrolls Rose 156,000 in December, Gained 703,000 in Last Four Months, but
Full-Time Employment Rose 35,000 in December, Flat (-8,000) in Last Four Months
– Annual Growth Rates in December Payroll and Full-Time Employment Fell Sharply, to Multi-Year Lows; Nonfarm Payrolls at Weakest Growth Since Exiting the Recession
– Household Survey Revisions Were Minimal for Widely Followed Details, yet January Unemployment Data Face a Series Break, while the Payroll Survey Faces Net Downside Benchmark Revisions Next Month
– December 2016 Unemployment Rates Mixed: U.3 Rose to 4.7% from 4.6%, U.6 Eased to 9.2% from 9.3%, ShadowStats-Alternate Rate Eased to 22.7% from 22.8%
– Despite a Monthly Nominal Gain and Downside Prior-Period Revisions, Real Construction Spending Remained Down by 22% (-22%) from Recovering Its Pre-Recession High
– December M3 Annual Growth Notched Higher to 3.9% Versus an Upwardly Revised 3.8% in November; Still Down from 4.5% in June
“No. 860: December Labor Conditions, November Trade Deficit and Construction Spending”
The Deep State Goes to War with President-Elect, Using Unverified Claims, as Democrats Cheer
January 11, 2017
IN JANUARY, 1961, Dwight Eisenhower delivered his farewell address after serving two terms as U.S. president; the five-star general chose to warn Americans of this specific threat to democracy: “In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.” That warning was issued prior to the decadelong escalation of the Vietnam War, three more decades of Cold War mania, and the post-9/11 era, all of which radically expanded that unelected faction’s power even further.
This is the faction that is now engaged in open warfare against the duly elected and already widely disliked president-elect, Donald Trump. They are using classic Cold War dirty tactics and the defining ingredients of what has until recently been denounced as “Fake News.”
Their most valuable instrument is the U.S. media, much of which reflexively reveres, serves, believes, and sides with hidden intelligence officials. And Democrats, still reeling from their unexpected and traumatic election loss as well as a systemic collapse of their party, seemingly divorced further and further from reason with each passing day, are willing — eager — to embrace any claim, cheer any tactic, align with any villain, regardless of how unsupported, tawdry and damaging those behaviors might be.