Redacted Tonight #270 – Richest Double Their Wealth, Climate Collapse, British Election Revelations

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1. Trump Hypes Alleged Creation of 266,000 Jobs in November, but Spurious Report Includes over 40,000 General Motors Strikers Returning to Work at Old Jobs, Plus Thousands of GM Sub-Contractors Laid Off During Walkout; Add in Some Holiday Retail Hiring and We Have a “Heavily Gimmicked” and Inflated Job Report Concocted to Mask Deepening Downturn Underneath Trump Stock Bubble; Fed’s QE and Repo Spree Continues.
   Trump Propaganda Hypes Stock Market Bubble Based on GOP Tax Scam of December 2017; Corporate Tax Bonanza Ploughed into Stock Buybacks, Not New Plant, Equipment, and Jobs; New York Fed (Alias PPT) Pumps Up Markets with $120 Billion per Day in Hot Money; FOMC’s Falling Interest Rates Designed to Stoke Speculation, Not Capital Investment and Hiring; “Earnings Recession” Looms; Indicators for Physical Economy Mostly Negative: Industrial Production, Durable Goods Orders, Home Building, Freight Loading’s Down!
   Those are what the old time market analyst used to call the fundamentals; macro-economic Facts.
   U.S. GDP Growth Is Now at 1.9%, Showing Once Again That Trump Does Not Deliver on His Promises, Especially in Economics; Serious Domestic Liquidity Issues Include Repo Cash Crunch; Started in Mid-Sept still continues. Durable Goods Orders Down Year Over Year; Mining and Manufacturing Continue to Shrink, with Manufacturing Still 4.8% Below Pre-2008 Levels; Industrial Production Has Not Expanded in 142 Months; CASS Freight Index Marks Tenth Month of Decline, “Signaling an economic contraction.”