The rise of Donald Trump (and similar iconoclasts in other countries) is due to the gradual division of society into the protected - that is, people who make the rules and therefore benefit from them - and the unprotected, who don’t make the rules and end up getting screwed. The latter have finally figured this out and have stopped supporting the former.
"The reason that we’re still here, when we really should have fallen apart based on how much debt there was out there, and various other measures of instability, is that a printing press has turned out to be a great tool for fooling people...but in the longer term gold is a beneficiary of the instability that necessarily flows from borrowing too much money"
Modern Europe: Born In the USA
"We will not allow Greece to be turned into a warehouse of souls! Here from Athens, I want to appeal to all potential illegal economic migrants wherever you are from: Do not come to Europe. Do not believe the smugglers. Do not risk your lives and your money. It is all for nothing."
- Global stocks, oil dip, but markets calm down as growth fears ease (Reuters)
- Greece cannot carry migrant burden on its own: PM Tsipras (Reuters)
- New Migrant Crisis Flares in Greece (WSJ)
- Qatar's BeIn Media buys U.S. film studio Miramax (Reuters)
- Nanny who beheaded Russian girl cites revenge for Putin's Syria strikes (Reuters)
Donald Trump's emergence as the Republican frontrunner and possible future U.S. President is causing some gold and investment analysts to suggest diversifying into gold.
While Asian stocks continued their longest rally since August overnight, led higher for the third consecutive day on the back of Japan (+1.3%), Australia (+1.2%) and China (+0.4%) strength, European stocks have as of this moment halted their longest rally since October (Stoxx -0.1%) and U.S. index futures are little changed. Oil slipped from an eight-week high despite yesterday's massive rise in US oil inventories on hopes Saudi Arabia may be forced to cut production as its budget strains grow actue and the kingdom is forced to seek a $10 billion loan, its first material borrowing in a decade.
Following yesterday's torrid 2.4% March opening rally, which resulted in the biggest S&P gain since January and the best first day of March in history on what was initially seen as very bad news, and then reinterpreted as great news, overnight futures have taken a breather, and erased a modest overnight continuation rally to track the price of oil lower.
Ready for Hil ... "Humanitarian" War
In 1990, British Prime Minister Margaret Thatcher exclaimed her opposition the common currency and European integration very simply: "No! No! No!" Perhaps it is time to revisit her thoughts as Britain considers leaving The EU.
- Shares fall on G20 disappointment, Fed hike worries (Reuters)
- China cuts reserve requirement ratio for fifth time since Feb. 2015 (Reuters)
- China Stocks Tumble Toward 15-Month Low as Stimulus Bets Unwind (BBG)
- S&P 500 Futures Signal 2nd Day of Stock Losses; Valeant Slides (BBG)
- Valeant fundamental risks are too severe to suggest the stock is poised for a lasting rebound (WSJ)
The closure of borders in the north of Greece has created chaos: thousands of refugees and migrants wandering from Athens to Idomeni without knowing where to sleep and what to eat, where to lay their kids and elderly to sleep.
Two years have passed since Yanukovich was deposed and, as it turns out, another ruthless clan of oligarchs has taken power. No wonder then that Ukraine is heading for a new wave of violence and chaos. It is a just matter of time before the Ukraine nationalistic militias will take power, resulting in a definite split of the country. Poroshenko can postpone the people final verdict by reviving the war in the east, but in the end, he can not escape the day of reckoning.
Fearful of a renewed rise in the US dollar, Saxo's chief economist Steen Jakobsen expects a "nasty March" as this will kill commodity stabilization as well as the ability of emerging markets to live up to their expectations to revitalize the global economy. Despite The Bank of Japan's clear "example of how not to do things," Jakobsen warns other central banks will follow Kuroda's cue and, as he explains below, is "shorting everything" as he sees two major canaries in the coalmine.
We are living in a world in which a handful of high-tech companies, sometimes working hand-in-hand with governments, are not only monitoring much of our activity, but are also invisibly controlling more and more of what we think, feel, do and say. The technology that now surrounds us is not just a harmless toy; it has also made possible undetectable and untraceable manipulations of entire populations – manipulations that have no precedent in human history and that are currently well beyond the scope of existing regulations and laws.