Things I heard on the radio today, [View all]

[Ilsa]

listening to Thom Hartmann for a total of maybe 25 minutes off and on over 3 hours:

1. German news and media report that with Trump as president-elect, they no longer consider the US president as the Leader of the Free World. Sounded like most of the EU bestow that title on Merkel.

2. IRS is reporting that tax receipts are significantly down compared to the same period last year, indicating a recession likely looms.

3. The stock market's ratchetting up is because big business is expecting a big fiscal stimulas package from Trump. When the gop throws cold water on it or outsources materials for infrastructure, expect a huge correction, which will also come on the heels of a monetary play by the Fed -- raising interest rates.

4. Paul Ryan removed a provision from a senate bill at the House that required contractors to buy American iron and steel, not from China. His LAME excuse was that the government would have pick winners between US businesses. (This was added on edit)

Hartmann expects trump to preside over a depression, followed by a world war.

Interesting day on the radio.