Frontrunning: November 15

  • GOP Seeks to Derail Moore, Salvage Senate Seat (WSJ)
  • Army takes control in Zimbabwe (Reuters)
  • Senate Tax Plan Guts Obamacare, Sunsets Many Middle-Class Cuts (BBG)
  • Senate Republicans tie tax plan to repeal of key Obamacare mandate (Reuters)
  • Trump’s Campaign Foreign Policy Team Under Mueller’s Microscope (BBG)

Global Stocks Tumble, Asia Plunges On Chinese Commodity Carnage

The euphoria of the past month has ended with a thud and BTFDers are strangely missing as the commodity chill out of China (which overnight became full blown carnage), has unleashed a global risk-off phase ahead of today's critical CPI data, resulting in broad and sharp selling across global markets, as European stocks followed declines in Asia while bonds and gold advanced.

EU "Values" Fit Poland Like 'The Saddle Fits The Cow'

"A thirty-six million person nation in the heart of Europe (i.e. with a population approximately the size of Spain’s) is throwing down the gauntlet to the EU establishment and its view of European unity based on cultural and religious indifference and anti-nationalism."

Nigel Farage Calls On EU To Investigate George Soros

“And I say that because George Soros recently gave Open Society, which of course campaigns for freedom of movement of people and supranational structures like the European Union, $18 billion. And his influence here and in Brussels is truly extraordinary..."

Russia's Alleged Meddling In Catalan Vote: Playing The Blame Game

Can anyone of sane mind believe that Russia’s “meddling” is the real reason to make over 40 percent of Catalans support independence? Has Russia been behind the 95-year-old independence movement in Catalonia? Has Russia made the Catalans’ language and culture distinct? Did Russia make Francisco Franco oppress the Catalan people?

SocGen On China's Slowdown In The Making

China’s activity growth decelerated more than expected in October for the most part, while inflation surprised on the upside. Supply constraints imposed by the air pollution reduction programme clearly played a role, while demand slowdown emerged only a little. However, the seeds have been sown for a full-fledged growth slowdown in 2018.

The Deeper Purpose Of Trump's Asia Trip

"This trip was a prewar gathering of allies (Japan and South Korea) and potential allies (China) in a last-ditch struggle to head off a hot war with North Korea, led by the reckless Kim Jong Un..."

China's Credit Growth Is Freezing Up At The Worst Possible Time

With growth slowing in China, the question is will it continue into 2018, and will it lead to bulk commodity prices deflating? In short, due mainly to slower overall credit growth vs. prior bubbles (i.e., 2009, 2013, and 2016), a material slowdown in economic growth or asset values in China’s market is inevitable – barring another massive ramp-up in credit issuance...

Zimbabwe Military Commander Denies Coup: Only "Targeting Criminals That Cause Economic Suffering In The Country"

Zimbabwe military commander Chiwenga says on state television that this is not a military coup. That the military will bring to justice those who are responsible for "social and economic suffering in the country," that Mugabe and his family are safe, and they are targeting "criminals" around the Mugabe family... promising the situation will return to normal soon.