Speaking of plunder, there was a headline today indicating that magically in one week tax refunds are now at the same level as last year:
Looking at the IRS filing statistics, I was wondering how they pulled that off. It turns out that the first three weeks and ~23 million tax returns only had an average refund of $2640. However, the past week's average refund across 15 million returns was almost 50% higher ($3926). Now does that mean that everyone gets the average, no. Does that mean that the first 23 million people get an increased refund, no. What it means is that the Trump administration data mined 15 million people who will receive a tax refund almost 50% higher than the true average.
Because they assume that everyone is as dumb as they are and incapable of sixth grade math.
In summary, don't worry, be fat, dumb, and happy:
"...people really should be focused on the fact they’re paying lower taxes,” Mnuchin said. “Those lower taxes is money going back into the economy, and that’s why we have the economic growth we do.”
Lower taxes are going back into offshore bank accounts:
Where was I...
One year later and the trade war rages on, the casino somehow still bilked by every fake headline. The key sticking point is "technology transfer" which will never be resolved. Why? Because when factories are outsourced, the outsourcing country loses control over the manufacturing process, opening the door to reverse engineering. All of which would be obvious to a society that still valued scientific engineering over financial engineering.
Which confirms the 4th quarter retail sales implosion:
I predicted recently that the record stock buybacks was to allow corporate executives to flee the sinking ship.
Now we know that's what they're doing:
Despite a -40% drawdown, oil futures gamblers still haven't gotten the Trump memo.
They will get margined out when the next journalist is sacrificed on the altar of low oil prices.