Economy

Retail is collapsing. Christmas was bad. Target exits Canada, closing 133 stores.

The malinvestment in shale oil is becoming apparent.

"One of the biggest names in the history of Big Oil – the Rockefellers – announced last September that they would be purging the portfolio of the Rockefeller Brothers Fund of 'risky' oil investments. And that risk has been underscored by the sudden collapse of the oil market. After cresting at more than $107 in mid-June, the price of a barrel of West Texas Intermediate dipped below $50 a barrel in early January. The crash carries big costs: Goldman Sachs warned that nearly $1 trillion in planned oil-field investments would be unprofitable – even if oil were to stabilize at $70 per barrel."

Bye-bye $1 trillion.

Collapsing oil prices and western sanctions have forced Russia to abandon the petrodollar. The US is cutting of its nose, accelerating the demise of the dollar as the world's reserve currency, despite its face.

We've been hearing for months how great the economy is, but it's not.

"A decline in U.S. retail sales and lackluster results from two of the nation’s largest banks on Wednesday rocked confidence in the vigor of the U.S. economy, prompting investors and traders to sell stocks and move money into government bonds, driving yields on long-term Treasury bonds to record lows. "

A lot of jobs were supposedly created in December to cap off a big year. Don't believe the hype.

Because Christmas is over, US jobless claims hits 18 week high.

Chinese smartphone maker kicks Apple's and Samsung's butts.

"Chief executive Lei Jun introduced the Mi Note, saying it was shorter, thinner and lighter than the iPhone 6 Plus.
Priced at 2,299 yuan ($371; £244), the 16 gigabyte model is less than half the price of Apple's handset and Samsung's phablet, the Galaxy Note 4."

And while the Chinese government surely spies on those phones as thoroughly as the US does on Apple phones, the Chinese government doesn't care about Americans. Governments are only concerned about their own citizens because that's whom they prey on.

Swiss Franc jumps 30 percent when central bank announces it won't debase to match Euro.

Analyst warns on Apple.