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The State of the Union – Markets

Global stock and bond markets: Watch out below! I discussed over-priced markets here and here and here. 2017 was an outstanding year in many markets. DOW up 24.7% NASDAQ 100 up 31% (Wow!) Nikkei up 19% DAX up 12% Gold up 13.6% Silver up 7.1% XAU (gold mining stocks) Index up 8% Dollar Index DOWN 10% We can be certain of the following: Death, Taxes and Politics. When markets move too far and too fast in either direction, they correct. Bubbles crash! SO WHAT? We live with the inevitability of death, and the predations of taxes and politics. Stock markets […]

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Deep State Takedown In Progress: Is Trump About To Start Arresting Top Democrats And Bringing Them To Justice?

When Donald Trump gets hit, he always hits back even harder.  So when the deep state decided to conduct a legal witch hunt against President Trump and his family, they should have expected that Trump would return the favor.  In recent days, there have been all sorts of rumblings about sealed indictments, pending arrests and a “deep state takedown”.  Many believe that we are on the verge of seeing some of the most prominent Democrats in the entire nation being arrested and thrown in prison.  We shall see how all of this plays out, but in this article I am […]

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Congress May Eliminate State Tax and 401(k) Deductions; Axel Merk: Problems Ahead for the Dollar

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Coming up we’ll hear a wonderful interview with Axel Merk of Merk Investments and the Merk Funds. Axel describes why he believes the “buy the dip” mentality has overtaken mainstream financial advisors, warns about the danger of buying into conventional wisdom and also chimes in on gold and the potential rise of rise haven assets. Don’t miss this must-hear conversation coming up after today’s market update. As investors eye a potential tax reform deal on the horizon, they are mostly overlooking precious metals markets. Gold and silver prices retreated this […]

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The Worst Financial Nightmare In Illinois History Erupts As State Comptroller Declares ‘We Are In Massive Crisis Mode’

Margaret Thatcher once said that the big problem with socialist governments is that “they always run out of other people’s money”, and unfortunately we are witnessing this play out in a major way in the state of Illinois right now.  At this point, the Illinois state government has more than 15 billion dollars of unpaid bills.  Yes, you read that correctly.  They are already 15 billion dollars behind on their bills, and they are on pace to take in 6 billion dollars less than they are scheduled to spend in 2017.  It is the worst financial crisis in the history […]

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The newly dreadful state of the Union

Last Thursday’s election was a shock. It was appalling for the Tories, extraordinarily encouraging for Labour and something of a “meh” for the Liberal Democrats and the Greens. And it was dreadful for nationalist parties. UKIP was completely wiped out, ending up with no seats at Westminster and a hugely reduced share of the poll. The SNP lost seats, and even Plaid Cymru did less well than it had hoped. Nationalism, it seems, is dying down. Well, in the UK, anyway. Faced with a disastrous result, any half-decent party leader would step down. To his credit, Paul Nuttall, the UKIP […]

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The ’51st U.S. State’ Declares Bankruptcy As Corporate Insiders Sell Stocks At The Fastest Rate Since The Last Financial Crisis

Puerto Rico has collapsed financially and has “filed for the equivalent of bankruptcy protection”.  When this was announced on Wednesday, it quickly made front page news all over the planet.  For decades, Puerto Rico has been considered to be the territory most likely to become “the 51st U.S. state”, and there have even been rumblings that we could soon see a renewed push for statehood.  But that is on the back burner for now, because at the moment Puerto Rico is dealing with a nightmarish financial crisis that is the result of an accelerating economic collapse.  Unfortunately, many Americans still […]

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11 Quotes From Trump’s Speech To Congress That Show That The U.S. Economy Is In A State Of Collapse

After Tuesday night, nobody should have any more doubt that the U.S. economy has been in the process of collapsing.  Donald Trump’s speech to a joint session of Congress is being hailed as his best speech ever.  Even CNN’s Van Jones praised Trump, which shocked many observers.  Jones said that when Trump honored the widow of slain Navy Seal Ryan Owens that it “was one of the most extraordinary moments you have ever seen in American politics”, and Jones believes that Trump “became President of the United States in that moment”.  But Trump’s speech is not just being praised for […]

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John Kerry Unveils His Plan For A Palestinian State Based Upon 1967 Borders With East Jerusalem As The Capital

Barack Obama stabbed Israel in the back on Friday, and now John Kerry has slapped Israel in the face just five days later.  In a shameful speech that lasted for 71 dreadful minutes, U.S. Secretary of State John Kerry laid out his plan for peace in the Middle East on Wednesday.  His six-part plan is being welcomed warmly by the Palestinians, but it has further infuriated the Israelis.  Kerry claims that his plan reflects the emerging global consensus as to what a “final solution” will look like, and now we will wait to see what the 70 nations that will […]

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Circle January 15th: 70 Nations Will Gather In Paris To Discuss The Creation Of A Palestinian State

On January 15th, representatives from 70 different countries will gather in Paris, France for an unprecedented global conference.  The stated goal of this conference is to promote a “two-state solution” as the way that lasting peace will be brought to the Middle East.  In Israel, there is a tremendous amount of concern that whatever is agreed upon at this conference will immediately be used as the basis for a UN Security Council resolution that would permanently divide the land of Israel and create a Palestinian state.  But things would have to move very rapidly in order for that to happen, […]

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Breaking Report: John Kerry Is Working On Another UN Resolution That Would Officially Recognize A Palestinian State

Multiple media outlets are reporting that U.S. Secretary of State John Kerry is finalizing a document that the Obama administration hopes will form the basis for a UN Security Council resolution that officially recognizes a Palestinian state before the end of Barack Obama’s term on January 20th.  This comes on the heels of the UN Security Council’s adoption of resolution 2334 on December 23rd.  That resolution declared that all Israeli settlements in the West Bank are illegal, it stated that the Security Council recognizes the 1967 ceasefire lines as the border between Israel and “Palestine”, and it officially gave East […]

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