European stocks rose again with S&P futures higher, while Asian stocks were mixed. The dollar rose jumped on hawkish comments by Philly Fed's Harker, oil rose following optimistic OPEC comments, while gold dropped. Markets have largely ignored results by financial heavyweight HSBC, which posted its largest fall since mid-2015 after reporting a 62% plunge in pretax profit.
Just a day after 'fake news' criticizes Trump’s comments on Sweden, a riot in so-called "Little Moghadishu" - the Swedish borough of Rinkeby - occurs. 100s of young people throw stones at police, set fire to eight cars forcing police to fire warning shots...
"When I was Chair of the Federal Reserve I used to testify before US Congressman Ron Paul... we had some interesting discussions... We would never have reached this position of extreme indebtedness were we on the gold standard, because the gold standard is a way of ensuring that fiscal policy never gets out of line."
These questions are not spoken about openly in the fierce pre-election presidential debate raging in France. The question is not politically correct. But in these times of expanding Islamism, they weigh silently in favor of Marine Le Pen.
Few business communities swing from boom to bust as reliably as Silicon Valley, but detecting shifts in this opaque world can be challenging. However, Bloomberg's US Startups Baromater has tumbled over 20% from a year ago with initial financings down over 30% - suggesting all is not so rosy in the VC business.
The economy can grow (just like a self-driving car can move forward) (1) if workers can make an increasing quantity of goods and services each year, and (2) if non-elite workers can afford to buy the goods that are being produced. If these workers find fewer jobs available, or if they don’t pay sufficiently well, it is as if the engine of the self-driving car is no longer working.
The world’s most valuable brand is owned by a company that you likely interact with every day. In fact, you may have even gotten to this web page using it. That brand is Google – and it dominates the internet with a 64% market share in search, while generating 41% of all digital advertising revenue globally...
Every few years, it seems, one or another mismanaged eurozone country falls into one or another kind of crisis. This leads to speculation about the end of the common currency, which in turn spooks the global financial markets. Then the ECB conjures another trillion euros out of thin air and calm returns for a while. At least, that’s how it’s gone in the past. The latest crisis has more than the usual number of flash-points and could, therefore, be something new and different.
Two reasonably adult statesman undertook what might be called the Christmas Truce of 2016. But like its namesake of 1914 on the bloody no man’s land of the western front, the War Party has determined that the truce-makers shall not survive. The Donald has been warned.
One small problem has emerged as a Nanny State in the Pacific islands considers banning imported sugary foods to combat their obesity epidemic..."No country in the world has been able to demonstrate reductions in its obesity prevalence, so we’re not that different...It’s just that our levels are higher to start with.”
While Trump seemingly remains the only topic worthy of discussion blanketing the airwaves, as the following chart from Goldman demonstrates, it has been China where policy uncertainty has stealthily exploded in the past three months.
"Trust us," they say. "We’ll help you navigate Facebook and filter out the fake news stories,” they promise.But just who are these self-appointed gatekeepers who claim to be the ultimate arbiters of what is or is not “fake news”?
Vitaly Churkin, who served as Russia's permanent representative to the United Nations since 2006, "died suddenly" in New York, the Russian Foreign Ministry announced. Churkin was at the Russian embassy when he became sick with a “cardiac condition” around 9:30 am, and was taken to Columbia Presbyterian Hospital, where he died.
President Donald Trump has named Lieutenant General Herbert Raymond McMaster to be his new national security adviser, again turning to the U.S. military to play a central role on his foreign policy team. Trump also named Keith Kellogg, a retired U.S. Army General, as chief of staff to the National Security Council.