Trump’s return to the world stage – even though his official inauguration is on January 20 – is already claiming numerous victims. Arguably, even the fall of both the French and German government in recent months have been given some impetus by the political events in the US. But one of the clearest victims appears to be Canadian Finance Minister Chrystia Freeland, who resigned yesterday, citing differences with PM Trudeau’s Cabinet over how to prepare for a looming trade war with its big neighbour. Observers say her comments in her resignation letter on “eschewing political gimmicks” likely refer to the temporary tax cuts and pay-checks planned by the government to support consumption. She sees handing out money as fiscally imprudent. Given that she announced her decision just hours before she was due to speak in Parliament on the fiscal and economic outlook, markets reacted with a fall in the Canadian dollar (depreciating some 0.4% vis-à-vis the US dollar) and rising bond yields (some 7bp on the 10y note) https://www.zerohedge.com/political/trumps-return-world-stage-already-claiming-numerous-victims

U.S. gross debt increased from $34.4 trillion at the end of 2023 to $36.1 trillion as of December 2024, with some experts calling it unsustainable. In this graphic, Visual Capitalist's Bruno Venditti brings a breakdown of U.S. debt composition, categorized by domestic and foreign investors as well as intragovernmental holdings. https://www.zerohedge.com/markets/heres-who-owns-us-debt

Those looking for a clear indication whether the Fed will keep cutting or halt its easing cycle in two weeks, will have to wait because the rest of the jobs report was mixed: on one hand, unemployment rose from 4.1% to 4.2%, and above the 4.1% estimate (with Black unemployment at 6.4% rising in November, while the jobless rates for adult men (3.9 percent), adult women (3.9 percent), teenagers (13.2 percent), Whites (3.8 percent), Asians (3.8 percent), and Hispanics (5.3 percent) showed little or no change over the month). https://www.zerohedge.com/markets/november-jobs-surge-above-estimates-wage-growth-comes-hot-umemployment-rises

OTTAWA, Dec 6 (Reuters) - Canada's unemployment rate rose more than expected to 6.8% in November, a near-eight-year high excluding the pandemic years, even as the economy added a net 50,500 jobs, data showed on Friday, boosting chances of a large interest rate cut next week. Currency markets increased the bets for a rate cut of 50 basis points next week to 68% from 55% before the employment report was released. A rate reduction of 25 basis points is fully priced in. https://www.kitco.com/news/off-the-wire/2024-12-06/canadas-jobless-rate-jumps-68-bets-50-bps-rate-cut-next-week

The final deal, inked over the weekend, also saw Western governments pledge $1.3 trillion per year in “climate” wealth transfers by 2035. The money for Third World kleptocracies and climate profiteers will come from what remains of the middle class in the West. These reparations are to compensate for “loss and damage” supposedly caused by Western CO2, the UN claims. https://activistpost.com/2024/12/un-climate-deal-oks-carbon-markets.html

“Everything was a lie from the beginning. The asymptomatic people don’t transmit. Kids were not harbingers of the disease. They don’t actually, they’re like a break on the disease. Lockdowns were a farce. Masks don’t work.” “Well if you want to destroy your immune system, take a COVID-19 vaccine. It will destroy your immune system. It distributes widely in your body. It can’t be broken down because it’s a genetically modified RNA. There are contaminants, process related impurities, what I usually call them, but contaminants for most people, that they haven’t gotten out of the vaccines.” https://www.zerohedge.com/markets/doc-drops-covid-truth-bombs-everything-was-lie-beginning

From the national debt to negative jobs reports, data has been piling up that suggests America’s economic bubble is ready to burst. Now, with the Fed’s most recent round of rate cuts moving through the economy, fault lines are appearing in the commercial real estate sector. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold. The pain is especially apparent in the so-called “CRE-CLO” bond market. CRE-CLO bonds are packaged commercial real estate mortgages comprising short-term floating rate loans. These bridge loans were recently, and most notably, used to facilitate the biggest apartment investment bubble in history, but were also used in financing other commercial real estate sectors including office, retail, hotel, industrial, and self-storage. https://www.zerohedge.com/markets/commercial-real-estate-bond-distress-reaches-record-high

The internet is abuzz after a man, identified by local media outlets as a possible member of the Rothschild banking family, died in a mysterious house fire in the Hollywood Hills area on Wednesday. https://www.zerohedge.com/markets/man-allegedly-part-rothschild-banking-family-dies-mysterious-hollywood-hills-house-fire

Google Trends data revealed a 400 percent increase in searches for "how to move to Canada" by 8 p.m. ET on election night, with a 200 percent rise in searches for legal migration methods to Canada. The Newsweek report said that Canada ranks as the top relocation destination for residents in blue-majority states, with 89.47% of the 19 states studied favoring it in searches. It said that in Colorado, searches for "move to Canada" and similar terms average 693.33 per month, while Connecticut logs 327.50 searches, far outpacing second-place Brazil at 205.83. Even smaller states like Maine show strong interest, with 230.83 searches monthly for Canada. Regional preferences also emerge in the data. Vermont favors Ireland as a second choice after Canada, with 89.17 and 131.67 monthly searches, respectively. Marc Porcar, CEO of QR Code Generator PRO S.L. commented: "With its proximity and cultural similarities, Canada has emerged as the clear favorite for Americans considering a move abroad." https://www.zerohedge.com/markets/these-are-countries-triggered-democrats-are-moving-after-trumps-resounding-victory

Riots erupted overnight in parts of Montreal after pro-Palestinian, anti-NATO protesters clashed with police officers, smashed windows of businesses, and even set vehicles ablaze in the downtown area. Canadian English-language daily newspaper The Gazette, also known as the Montreal Gazette, reported that the protests coincided with the 70th Annual Session of NATO in Montreal, which kicked off on Friday and lasts through Monday. About 300 delegates from NATO member states and partner countries are expected to attend the weekend high-level event. https://www.zerohedge.com/markets/justin-trudeau-watches-taylor-swift-while-riots-erupt-montreal