European Union

The Rich Got Richer In 2016 - $237 Billion Richer!

While Warren Buffett did best of all the billionaires in 2016, he was far from alone. As Bloomberg reports, thanks to the Trump rally, the rich got a lot richer in 2016 - $237 billion richer to be exact - but the biggest fortunes on the planet whipsawed through $4.8 trillion of daily net worth gyrations in 2016.

Frontrunning: December 29

  • Russia's Putin says Syrian government, opposition sign ceasefire deal (Reuters)
  • Snap’s IPO Pitch to Tout Service as ‘the Next Facebook’ (WSJ)
  • What History Has to Say About the Economy Trump Will Inherit (BBG) - zero mentions of the word "debt"
  • Trump tax reforms could depend on little-known 'scoring' panel (Reuters)
  • Debbie Reynolds Dies a Day After Daughter Carrie Fisher (BBG)
  • U.S. appeals court rejects SEC's use of administrative law judges (Reuters)

The EU Vs. The Nation State?

The question remains, however, why any nation would want to throw out its sovereignty to institutions that are fundamentally unaccountable, that provide no mechanism for reversing direction, and whose only "solution" to problems involves arrogating to itself ever more authoritarian, rather than democratically legitimate, power.

Frontrunning: December 28

  • Crude Rally Lifts Commodity Currencies; Bonds Rise: Markets Wrap (BBG)
  • Kerry Plans Middle East Speech as Israel Moves to Ease Tension (BBG)
  • Japan Looks to Smooth Over Past as New Threats Arise (WSJ)
  • Israel backs off East Jerusalem settlements (Reuters)
  • House Flipping Makes Comeback as Home Prices Rise (WSJ)

Who Wants To Keep Gas Flowing Through Ukraine And Why?

It is hard to see the position being taken by Poland - and by those in solidarity with Warsaw over this matter (or who are clearly urging that country to embark on such initiatives) - as anything but a deliberate attempt to jeopardize Europe’s energy security...

Exit, Hope & Change - The Obama Post-Mortem

By now, anyone in this country still of sound mind knows that Barack Obama presided through eight years of remarkable continuity - of changeless conditions that left a great many hopeless. As the days of his tenure dwindle, what do we make of the departing 44th president?

A Loser's Malice: What's Behind Obama's Attacks On Putin

Relations between Russian president Vladimir Putin and US president Barack Obama are poisoned and irretrievably damaged. It’s therefore a good thing that Obama is leaving office on 20 January. Bad US-Russian relations are of course nothing new. Since the Anglo-American war against Iraq in 2003, the US-Russian relationship has been headed downhill. For Obama, it appears that everything has gotten personal.

Is Obama A Russian Agent?

Sometimes a case looks weak because there is no "smoking gun" - no obvious, direct evidence of conspiracy, malfeasance or evil intent - but once you tally up all the evidence it forms a coherent and damning picture.

Geopolitics, Globalization, And World Order: Part 1

Big and significant nations like Russia, India, China and Iran are virtually impossible to control militarily, leaving only the financial option available. In this sense, the role of central banks and the de-dollarization process are a core strategic interest for these countries as a way of maintaining their full sovereignty. In going in this direction, they deliver a dramatic blow to US aspirations for a global empire.

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

Europe's Future - Merkel Or Le Pen?

The terrorist who hijacked a truck in Berlin and ran over and killed 12 people, maiming and wounding 48 more, in that massacre in the Christmas market, has done more damage than he could imagine.