Tax Reform Passes The Senate and Long Term Yields Moving Higher
Chris Temple joins me today to shares his thoughts on the tax bill passing the Senate and recent moves in yields around the world. We have discussed the tax bill a lot over the past couple weeks and even though we think it is a watered down version it is now one step closer to being signed by Trump. As for yields, the long end has been moving up and is close to a 9 month high. These moves could be telling us we are in for a higher yielding environment next year.
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WikiLeaks Lawyer’s Office Stormed In “Professional Operation”; Assange Then Tweets Video With Seth Rich Hint
“Julian Assange, I saw with my own eyes, intimate on an interview that the person who did that download… …he intimated that their source could have been Seth Rich.”
McCabe draws blank on Democrats’ funding of Trump dossier, new subpoenas planned
EXCLUSIVE: Congressional investigators tell Fox News that Tuesday’s seven-hour interrogation of Deputy FBI Director Andrew McCabe contained numerous conflicts with the testimony of previous witnesses, prompting the Republican majority staff of the House Intelligence Committee to decide to issue fresh subpoenas next week on Justice Department and FBI personnel.
While HPSCI staff would not confirm who will be summoned for testimony, all indications point to demoted DOJ official Bruce G. Ohr and FBI General Counsel James A. Baker, who accompanied McCabe, along with other lawyers, to Tuesday’s HPSCI session.
The issuance of a subpoena against the Justice Department’s top lawyer could provoke a new constitutional clash between the two branches, even worse than the months-long tug of war over documents and witnesses that has already led House Speaker Paul Ryan to accuse DOJ and FBI of “stonewalling” and HPSCI Chairman Devin Nunes, R-Calif., to threaten contempt-of-Congress citations against Deputy Attorney General Rod Rosenstein and FBI Director Christopher Wray.
“It’s hard to know who’s telling us the truth,” said one House investigator after McCabe’s questioning.
Fox News is told that several lawmakers participated in the questioning of McCabe, led chiefly by Rep. Trey Gowdy, R-S.C.
Dozens of lawmakers stand to reap a tax windfall due to a GOP loophole
https://www.cnbc.com/2017/12/20/dozens-of-lawmakers-to-reap-tax-windfall-from-last-minute-gop-loophole.html
The Republican tax bill is a disaster for income inequality
https://www.vox.com/policy-and-politics/2017/12/20/16790606/gop-tax-vote-2017-income-inequality
It’s funny (not really) how the left never calls out the central bank for being the greatest generator of income inequality. There are two good reasons for this and the first/most important one is the most obvious: decent lefties don’t understand economics (if you understand economics but remain on the left, you’re not decent). The second is that the left needs the central bank to carry out its kleptocratic foolishness (and the central bank needs the left to justify its existence).
https://mises.org/library/how-central-banks-cause-income-inequality
Great and true point!
+1
Might be the point of it.
I wish we had abolished the capital gains tax. Even socialist Sweden does not tax capital gains if you reinvest the proceeds.
Rhodium……..$1530……..to the moon………
Trump Threatens To Cut Foreign Financial Aid Over Upcoming UN Jerusalem Vote
Trump: “They take hundreds of millions of dollars and even billions of dollars, and then they vote against us. Well, we’re watching those votes. Let them vote against us. We’ll save a lot. We don’t care.”
Trump signs executive order to expand critical minerals production, says it will end America’s ‘vulnerability’
By Juliet Eilperin December 20, 2017
How Electric Vehicles Could Sink the Texas Grid
Analysis shows why utilities need to think hard about future energy systems.
JASON DEIGN DECEMBER 19, 2017
https://www.greentechmedia.com/articles/read/how-electric-cars-could-sink-the-texas-grid
Pinawa eyes nuclear-powered future
Town in talks with small modular reactor industry to become demonstration site
Bill Redekop – 12/20/2017
https://www.winnipegfreepress.com/business/pinawa-eyes-nuclear-powered-future-465364263.html
Exelon Generation’s Illinois Nuclear Facilities Refueled and Ready to Power Seven Million Homes This Winter
December 20, 2017
Well executed refueling outages, robust winter readiness efforts make nuclear the most reliable source of year-round power
http://www.exeloncorp.com/newsroom/exelon-generation-il-nuclear-plants-ready-for-winter
Gold managed to take back the 200 day MA today but has also arrived at other resistance. We’ll know what that resistance is made of tomorrow…
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=1&dy=0&id=p27956794933&a=524385264
If there’s a time and place for the bears to put up a fight, it’s right here, right now. I would guess that most chartists expect the bulls to fail…
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=22&id=p86892679861&a=550376684
The Canadian dollar looks ready to rise again…
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=1&dy=22&id=p49430248732&a=522641997
Gold looks better than the yen.
Gold:Yen weekly:
http://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24XJY&p=W&yr=7&mn=7&dy=0&id=p31250820769&a=516697513
Gold gapped up big versus the 30 year T-bond this week.
Gold:$USB weekly:
http://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24USB&p=W&yr=6&mn=3&dy=0&id=p99930796321&a=371814669
I think I agree with everything Chris said but would just add that corporate tax cuts are much better for everyone than politicians will ever admit. Taxes are a cost of doing business, and, therefore, impact both the employee (wages; job availability) and the consumer (prices).
Perhaps the timing of the tax cuts has something to do with mitigating the effects of the accelerating price inflation that is coming soon. Businesses will now have a little room to keep wages and hiring up while keeping prices down.