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Futures, Global Markets Hit Record High Amid Unstoppable Trader Euphoria

Global stocks and US equity futures rose to a fresh record high on – what else – optimism that a firehose of fiscal spending will revive economic growth and bolster corporate earnings, which coupled with more pandemic relief and speedy vaccine rollouts under the new Biden administration would lead to continued risk upside. Investors also…

High Level Cop Exposes Illegal Quota — Cops Told to Make Arrests Even if There’s No Crime

By Matt Agorist Chicago, IL — Most people reading this article know what it is like to have the blue and red lights pop up in your rear view mirror. The last thing going through your mind at this point is the feeling of ‘being protected.’ This feeling comes from the fact that the overwhelming…

China Imports Of Corn, Wheat Hit Record High Amid Soaring Food Prices

On the same day that China published a much stronger than expected (if largely laughable as we first noted and Michael Pettis subsequently confirmed) GDP print, making China the only major economy to grow in the “year of covid”, China customs data showed that grains imports soared to record highs in 2020 after tight domestic…

California Halts COVID Vaccinations From Moderna Batch Linked To "Unusually High Number" Of Adverse Reactions

As the suspected death toll attributed to COVID-19 vaccines rises around the world, with dozens already reported in the US and Norway, California health officials have asked health-care providers in the state to immediately stop administering a batch of Moderna COVID-19 jabs after an “unusually high number” of adverse reactions were linked to it, according…

Goldman Sounds The Alarm On Stocks: When Euphoria Is This High, "It's A Good Time To Reduce Risk"

The past few months can best be characterized as a period of unprecedented market optimism and sheer euphoria, and we have done just that with several recent articles… … and so on. But whereas in the recent past, the euphoria was always bounded by the upper limit reached during the insatiable buying spree of the…

Keynes' Sleight Of Hand: From Fabian Eugenicist To World Government High Priest

Authored by Matthew Ehret via The Strategic Culture Foundation, It is as if the battle lines of civil war have been drawn up between masses of Americans who have been led to believe in either a false “bottom up” approach to economics, as defined by the Austrian School represented by Friedrich von Hayek, or in…

S&P Futures Hit Record High Above 3,800 Ahead Of Dismal Payrolls Report

While there is broad consensus that today’s payrolls report will be ugly, with economists expecting a sharp slowdown in December job growth in the U.S. due to the second wave of covid lockdowns and a quarter of those surveyed (including Goldman) predicting a negative print when the data is published at 8:30 a.m. ET, that…

Breakevens Soar To 2-Year High As Inflation Expectations Spike, Real Rates Crater

The breatheless rally in the 10Y Breakeven rate since the March lockdown lows has continued, and on Tuesday morning it hit a high of 2.03%, the highest level since December 2018. This even as real rates – which are determined by TIPS – have cratered to -1.09%, the lowest level this century. Validating expectations for…

Utilities, etc. v FCC: 5G Will Cause “Unreasonably High” Potential for RF Interference and Undermine Grid Reliability and Safety

By B.N. Frank Freaked out yet?  Utility companies claim that 5G spectrums for unlicensed and untested WiFi applications could interfere with their smart meters and grids which are extremely problematic already (fires, explosions, etc.). In 2019, AEP filed a lawsuit against the Federal Communications Commission (FCC) because of this.  Other utility companies and organizations have…

Futures Hit New Record High After House Approves $2,000 Stimulus Checks

US index futures and global stocks rose for a fourth straight day, hitting new all time highs on Tuesday after the Democrat-controlled House sided with Trump and passed a bill boosting stimulus payments for most Americans from $600 to $2,000 (which will almost certainly die in the Republican-controlled senate). The dollar dropped while oil and…

High Wage Vs. Low Wage: Visualizing America's K-Shaped Economic 'Recovery'

While it’s not uncommon for low wage workers to bear the brunt of an economic recession, this year’s economic collapse has been exceptionally brutal for America’s lower income employees. Employment rates for high wage workers have bounced back from their spring slump, but, as Visual Capitalist’s Carmen Ang points out, unfortunately, the recovery hasn’t been as…

High Tech Police Surveillance of Protests and Activism: Year in Review 2020

By Matthew Guariglia This summer’s Black-led protest movement against police violence was one of the largest political movements in the history of the United States–and with it, came a massive proliferation of government surveillance technology aimed at activists and demonstrators. EFF has been standing up for the right to protest without being surveilled for 30…

High Noon At The ECB Corral

By Reza Moghadam, chief economic advisor at Morgan Stanley International High Noon at the ECB Corral European policymakers, often paralyzed by divisions, finished 2020 on a high note. They finalized the €750 billion European recovery fund, agreed to ambitious climate goals (a focus of fiscal spending), and announced new measures to ensure easy financing conditions…

Futures Fly To All-Time High On Quad Witching Day

Normally, “quad-witching” option expiration days tend to be volatile affairs resulting in bursts of volatility and occasionally aggravated downside for risk assets. Today’s quad-witch, however, will not be one of those days because while some 45% of outstanding SPX option open interest – totaling more than $2.5tln of notional – expires, the concentration of strikes…

Bitcoin Reaches New Record High, Tops $20k For First Time

For the first time in its history, the price of Bitcoin has topped $20,000 Source: Bloomberg Increasing optimism in the last few days over a trillion-dollar-ish COVID relief bill have catalyzed this latest push higher as investors seek some non-government-dilutable store of wealth. Source: Bloomberg Bitcoin is “eating the world” thanks to 10-year returns of…

Global Stocks Hit All Time High On Stimulus Optimism Ahead Of Fed Meeting

Another overnight session, and – predictably – futures are higher in keeping with the most glaringly obvious market trend since 2016 of stocks surging during overnight US trading (while trading flat in regular trading hours)… … alongside world stocks which rose to a fresh record high on Wednesday ahead of today’s Fed meeting – the…

Weekly Initial Claims for Unemployment Benefits Jump to an Eleven-Week High

By Robert Hughes Initial claims for regular state unemployment insurance totaled 853,000 for the week ending December 5, up 137,000 from the previous week’s revised tally of 716,000 (see first chart). Claims are now at an eleven-week high, the highest level since September 19. The four-week average was 766,000, up 35,500 from the prior average…

US Household Wealth Hits All-Time High As “Top 1%” Have Never Been Richer While Poor Drown In Debt

The Fed’s latest Flow of Funds report released at noon today showed the latest snapshot of the US “household” sector as of Sept 30 2020. What it showed is that one quarter after the biggest surge in household net worth on record when US household net worth jumped by $7.6 trillion to $119.0 trillion (which…

FCC Gives $9.2B for Rural 5G, Some for Controversial Satellites, Even Though Taxpayers Already Paid for Safe High Speed Internet

By B.N. Frank High speed internet is safer and more secure with a wired internet connection (see 1, 2). According to a lawsuit and the Federal Communications Commission (FCC) Chairman, all Americans have already paid to have this where they live (see 1, 2, 3, 4). Regardless, the FCC is giving telecoms billions more to…

Euro Surges To 18 Month High Amid Speculation ECB Is “Out Of Policy Tools”

While many have focused on the ongoing collapse of the dollar, a big reason for the persistent weakness in the greenback, which is now below the Nov 9 “Pfizer vaccine” level… … is the grind higher in the EURUSD which this morning hit 1.2168, the highest since April 2019, and a level well above the…

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