Foreign governments continue to increase their purchases of U.S. government debt despite concerns over the fiscal cliff and the government's continued profligate spending.
Calling it “unexpected,” Reuters reported that the Purchasing Managers Index (PMI) from the Institute for Supply Management for November fell to its lowest level in over three years. A poll of economists by Reuters showed they didn't see it coming.
The United Food and Commercial Workers (UFCW) union has threatened 1,000 protests against Walmart on Black Friday, while the giant retailer has filed a complaint against such actions by the union with the National Labor Relations Board (NLRB).
Hard-money investment manager Marc Faber predicts that markets could decline by 20 percent, perhaps more, as the economy faces the continued recession and worries about the "fiscal cliff."
The goal of the secretive negotiations working out the TPP is the creation of a Free Trade Area of the Asia Pacific (FTAAP) and economic integration of the member nations.