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The author Mike Shedlock
Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Mish’s Global Economic

First of Many Cancellations: PGA Strips Trump of the 2022 PGA

First of ManyIn the first of many cancellations to come PGA will strip Trump Bedminster of 2022 PGA Championship.The PGA of America will strip Donald Trump of the 2022 PGA Championship, which is scheduled to be held at Trump National Bedminster golf club in New Jersey. In a blistering column that says the golf world must sever all ties with Trump, Golfweek’s Eamon Lynch said the PGA has been debating for two years the need to move the major championship and, once Trump is out of office, will...

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Add Toomey to the List of Republicans Willing to Impeach Trump

Pat Toomey on ImpeachmentRepublican Senators Willing to Take a StandSenator Pat Toomey (R., PA) cites impeachable offenses.Senator Ben Sasse (R., NE.) said Trump violated his oath of office.Senator Lisa Murkowski (R., AK) became the first Republican senator to call for Mr. Trump to resign.Senator Mitt Romney (R., UT) publicly blasted Trump. "I believe the president has disregarded his oath of office," Sasse said. "He swore an oath to the American people to preserve, protect and defend the...

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Trump to be the First President Twice Impeached

Article to Accuse Trump of Inciting an InsurrectionThe WSJ reports House Democrats to Introduce Article of Impeachment Against Trump.House Democrats plan to introduce an article of impeachment against President Trump on Monday, according to two Democratic aides, as lawmakers intensified calls to remove the president soon before the end of his term after he encouraged a mob that later stormed the Capitol in an effort to disrupt the certification of his election loss to President-elect Joe...

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Trump is Now Toxic, The Value of His Endorsement is Negative

The Trump Brand is Not RecoverableMajor campaign contributions to Trump and endorsements will sink like a rock. His brand is history. The same applies to the 11 foolish senators who elected to go down with Trump's sinking ship.Who Wants a Refund?The Tweet I replied to drips with irony if you read it carefully. Major Donor Bails on Senator Hawley Hawley was one of the 11 Republican Senators who opportunistically went down on the sinking Trump ship.Please note that A Major Josh Hawley Donor...

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Five Fed Presidents Praise Inflation, Not Threatened by Rising Yields

Five FED presidents praise financial fraud. In 2004, the FBI warned congress of massive mortgage fraud. In 2005, Greenspan praised bankers for getting people into homes they otherwise could not afford. Greenspan was praising massive mortgage fraud, which allowed people to get into homes they could not afford. After the housing bust, Greenspan pretended to lament that he thought the bankers would have been more responsible. Greenspan encouraged the irresponsibility with his taking of lending...

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Jobs Decline for the First Time in 8 Months

BLS Jobs Statistics at a GlanceThe BLS reports total nonfarm payroll employment fell by 140,000 in December with private jobs down by 95,000.The Bloomberg Econoday consensus was an increase of 50,000 jobs. ADP Estimated a Loss of 123,000 Private  Jobs, nearly on the nose.Details from the monthly BLS Employment Report.Nonfarm Payroll: -140,000 to 142,624,000 - Establishment SurveyEmployment: +21,000 to 149,830,000- Household SurveyUnemployment: +8,000 to 10,736,000- Household SurveyBaseline...

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Trump Crossed a Constitutional Line and Should Resign

Donald Trump’s Final DaysThe best outcome would be for Trump to resign to spare the U.S. another impeachment fight says the WSJ editorial board in Donald Trump’s Final Days.Democratic leaders Chuck Schumer and Nancy Pelosi are demanding that Mr. Trump be removed from office immediately—either by the Cabinet under the 25th Amendment or new articles of impeachment. There’s partisan animus at work here, but Mr. Trump’s actions on Wednesday do raise constitutional questions that aren’t casually...

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Trade Deficit Is the Highest Since August 2006

Eddie_T2 hrsSo....if we’re taking about the historical pattern of trade imbalances because we import so much from China...my take is that is that US consumers have been more beneficiaries of that phenomenon than victims. Net wealth effect. For the short run maybe it’ a leading indicator of higher unemployment.....which is certainly not good...but maybe to be expected until the pandemic starts to fade. People should get vaccinated asap. We need to beat this virus. Things weren’t looking...

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Karl Rove Blames Trump for Georgia Fisaco

Crazy Ideas"Who put's these crazy ideas into Trump's head?," asks well-known Republican strategist Karl Rove in a Wall Street Journal Op-Ed, The Republican Party Is in Disarray.If you have access to the article please read it. Here are the key ideas in my estimation, all direct quotes of Rove's article.Rove Places the BlameThe Senate is lost, the GOP is bitterly split and Trump’s actions have consequences.  A key factor was the decision by many independents and soft Republicans to vote...

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