Italians are angrier now than they’ve been since they hung Il Duce up by his heels in 1945. Italy has had no productive growth since 1999. Real GDP per person is smaller than it was at the turn of the century. That’s almost two decades of economic stagnation. By any measure, the Italian economy is in a deep depression. And things will probably get much worse. It’s no surprise Italians are in a revolutionary mood...
A German court has ruled that seven Islamists who formed a vigilante patrol to enforce Sharia law on the streets of Wuppertal did not break German law and were simply exercising their right to free speech. The "politically correct" decision, which may be appealed, effectively authorizes the Sharia Police to continue enforcing Islamic law in Wuppertal.
After being forced to withdraw $15 billion to fund government deficits, Norway's sovereign wealth fund has decided to boost it's equity allocation to 75% from 60% creating about $130 billion worth of incremental global equity demand
Some of the weirdest and most disturbing advertisements ever created are done so for military campaigns. They come in the form of propaganda leaflets, which are dropped by air or otherwise disseminated into a country or territory that is being invaded. The intention is to use psychology and symbolism to influence members of the general population, inciting fear and, ultimately, compliance.
"Geopolitical developments should be gauged from... non-traditional data sources (such as big data sentiment indicators, independent media outlets, etc.) given the failure of many traditional data sources to anticipate geopolitical developments this year."
A series of stronger than expected data in recent days pushed Goldman Sachs to up their payrolls growth expectation to 200k (above the 180k expectations), but they note that while the unemployment rate is likely to drop (to 4.8%), average hourly earnings may disappoint. Of course, they add, any non-narrative-confirming misses on the data can likely be explained away by "weather effects and residual seasonality."
Living at home with your parents isn't just for little kids anymore. Young adults are now more likely to live with their parents than in any other living arrangement, according to a recent report by the Pew Research Center.
In 2014, the Obama administration signed an executive order intended to help Central American minors reach their families in the U.S. without relying on "human smugglers." Two years later we find that 70% of those admitted under the program are adults while the number of unaccompanied children apprehended at the border has doubled. Victory!?
'Winter is coming' in North Dakota but as over 2000 veterans arrive to provide a human shield for the 'water protestors', president-elect Donald Trump said for the first time that he supports completion of the pipeline project near a North Dakota Indian reservation. Reassuringly his team confirmed that his support "has nothing to do with his personal investments" in Energy Transfer Partners - the company building the pipeline.
A California judge has orderd Coinbase, a bitcoin wallet service and the largest coinbase exchange in the US, to provide the IRS with records of all American user transactions from 2013 to 2015 to conduct an investigation into potential tax fraud.
"Wouldn’t it be great if Toblerone turned this incident into a teaching moment for its devoted customers? If it used its social media channels to remind them of the virtues of hard money and the costs of fiat money? If it helped Toblerone aficionados see the relationship between gaps in their candy to mainstream monetary fads that help bring them about?"
"...we're at a phase in this UST / developed sovereign bond trade where previously acceptable conditioning (‘buy dips’; ‘get long-er duration because it just keeps working’; ‘never-ending bond inflows will always pause selloffs’ etc) are all being reset in real-time, and this behavioral shift is painful."