Mark, Trump is on video saying all men are not created equal. It goes against America values and it is a core tenet of Fascism. That conservative people voted for fascism is a big concern. Only, the MSM never reported on Trump's fascism. Most people don't even know what it is. They don't believe Trump could be Hitler. He may not turn out to be, however, it could be that frustration drives him to his core value which is fascism. He is potentially the most dangerous man who ever lived.

We all hope he just sticks with business. But government isn't business, and how frustrated he gets will determine the course of history.

I was in a large earthquake in 1983. People who have not experienced a big quake or even a series of smaller quakes have no idea what it does to the nerves. Blocking sales of commercial aircraft makes no sense. Something tells me that Trump and his cronies will crush the economy which is already late into the business cycle.

Of course, the India Times has said that the cash in larger bills of 500 and 2000 rupees will replace the old cash, and the cash atm's will have to be reconfigured: economictimes.indiatimes.com/.../55471601.cms

So you must be confident, Charles, that Trump's supply side ideas will work magic in the rural areas? Perhaps Trump could tell us his plan for rural America since I have not seen one. I think Trump could erect trade barriers, and help the farmer just around the margins. Rural America is optimistic but that may turn out to be shortlived: www.agweb.com/.../truitt-trump-a-win-for-rural-america-naa-jo-windmann/

I am reminded that Blackrock has said bond demand, by regulated institutions, is massive. Add demand from non regulated institutions, counterparties, that can also amount to hoarding, makes the conundrum a reality still. And even more hoarding is taking place now that we have central clearing houses, who are at risk from netting procedures.

They say netting put the clearing houses at risk. So they require a lot of collateral and potential collateral which institutions must hoard: www.nasdaqomx.com/.../viewarticle?contentId=45560

There are, I believe, trillions of dollars of bonds being used as collateral in the 500+ dollar derivatives markets. They allow for some increase in interest rates but not massive increases. Systemically too big to fail banks and clearing houses are at risk if interest rates go berzerk. That is, for me, the reason why main street has been given such a bad deal on fixed income investments, because it is dangerous for interest rates to rise to fast and too high. I suppose they could put up stocks as collateral, and in some markets that is allowed. But that is not somehow better, is it Michael?

I wonder if Donald Trump will impoverish Mexico and flood the US with economic refugees? I wonder how much that would end up costing the USA in the long term? I wonder how much additional debt the US government will have to take on administering the wall? Wouldn't it be cheaper to help Mexico prosper?

If the Fed gets behind the curve in raising rates, it has no tools to raise rates quickly. Do a Volcker and it won't be the S & L's that crumble, it will be Wall Street. It would be just, but also just dangerous.

Trump will make the coming recession much worse. Then he will fight wars to get out of it at the world's peril. I seriously hope that is not how it plays out.