Let's see what's in the news today:
Calculated Risk - ISM non-manufacturing increased in November. Bill McBride says:
This was above the consensus forecast of 57.7% and suggests faster expansion in November than in October. A solid report.So that's good then.
BI - oh shit Draghi's speaking tomorrow. Expect a hammerblow to gold at 7:45AM Eastern time. Unless of course nobody expects anything from Draghi. Which they shouldn't, cos just last month he was threatening behind closed doors to quit and leave Europe twisting in the wind unless they pulled their heads out of their asses and started letting him perform his fucking mandate. You don't come back from that in just a month.
Doesn't matter, Europeans don't buy gold anyway. Except neo-Nazis and the rich, of course.
FT beyond brics - cheap oil may change India's destiny. Here's the first paragraph:
Petroleum prices touched a new four -year low of $72.5 per barrel after the Organization of Petroleum Exporting Countries (OPEC) decided last week against reducing production . The 35 per cent price drop is a huge relief for India, where petroleum products comprise a third of the import bill. Cheaper oil means narrower current account and fiscal deficits, and reduced prices at the pump for consumers shopping for food-grains, vegetables, cement and steel.You can skip the rest, it's boring.
BI - Russia's brain drain is astounding. Yeah, Pooty-poot, one thing you forgot: the last time Russia was a fascist dictatorship that executed its enemies and waged war on freedom and liberty, you also had closed borders. Might wanna look into who's going to drive your trams and distill your vodka when anyone with above 90 IQ has fucked off to the free world.
This bit was funny though:
"Russia not lose anything if entire so-called creative class leave. What creative class anyway? For me, woman who get up at 5 a.m. to milk cow creative because she produce something. Not some guy with stupid haircut who sit in cafe all day long writing in blog," said Vitaly Milonov, a Member of the Legislative Assembly of Saint Petersburg.As someone with a significantly unstupid haircut, I agree.
Reminds me, I need to get my head shaved sometime this week.
Washington Times - Balrog HUSSEIN Taxbongo to defund Medicare coverage for penis pumps. I am almost certain that this is meant as an explicit bitchslap of the Republican base. I guess the Demoncrats have given up on winning the old-men-with-erectile-dysfunction vote?