European Union

Key Events In The Coming Week

The key economic releases this week are the consumer confidence report on Tuesday, the third estimate of Q4 GDP on Thursday, and the PCE report as well as Personal Income & Spending data on Friday. In addition, there are several scheduled speaking engagements by Fed officials this week.

Kremlin Rejects US, EU Call To Free Detained Protesters As Court Fines Opposition Leader Navalny

One day after snap protests against corruption and Russia PM Medvedev broke out across numerous Russian cities, leading to the detention of hundreds of protesters as well as opposition leader Aleksey Navalny, the Russian opposition activist was found guilty of staging an unsanctioned rally, and will be fined 20,000 rubles (US$350) for his role in organizing what the authorities said was an illegal protest in Moscow on Sunday.

Michael Hudson: Trump Is Obama's Legacy - Is This The End Of The Democratic Party?

"...the Democrats will continue to pose as the Lesser Evil party not really in terms of policy, but simply ad hominum. They will merely repeat Hillary’s campaign stance: They are not Trump... having lost its ability to pose as the party of labor and the middle class; and firmly controlled by Wall Street and California billionaires, the DNC strategy of identity politics encourages any identity except that of wage earners..."

EU Celebrates 60th Birthday As European Leaders Scramble To Hold "Fraying" Union Together

Today in Rome, the EU celebrates its 60th anniversary. The celebration comes at a strange time: four days earlier, Theresa May delivered an unprecedented blow to the bloc's growth by filing Britain's formal exit papers. The impending Brexit and tens of thousands of protesters gathering beyond the tight police cordon around the Campidoglio palace offered a more sober reminder of the challenges of holding the 27 nations to a common course.

Frontrunning: March 24

  • Trump Says If Vote on Health Bill Fails, Obamacare Stays (WSJ)
  • Risky House healthcare vote to test Trump's negotiating skills (Reuters)
  • Trump Dares GOP in High-Stakes Vote on Troubled Health Bill (BBG)
  • All drill, no frack: U.S. shale leaves thousands of wells unfinished (Reuters)
  • Twitter explores subscription-based option for first time (Reuters)

All Eyes On Washington: US Futures Rise On Hope Healthcare Vote Will Pass

Asian shares and S&P futures rose on optimism that today's rescheduled U.S. vote on health care will pass following Trump's Ultimatum to the Freedom Caucus. European stocks gave up some of Thursday’s gains, falling for the fourth time in five days, and moving further away from a 15-month high reached a week ago while the yen weakened for the first time in nine days.

Doug Casey Has "Never Seen Anything Like This"

"What's going on in the US now is a culture clash. They don't just dislike each other and disagree on politics; they can no longer even have a conversation. They hate each other on a visceral gut level. They have totally different world views. I've never seen anything like this in my lifetime. There hasn't been anything like this since the War Between the States, which shouldn't be called "The Civil War," because it wasn't a civil war. "

Frontrunning: March 21

  • Gorsuch Strives to Present Himself as Above Political Fray (WSJ)
  • Investigation Could Hurt Trump’s Clout in Congress (WSJ)
  • U.S. to Ban Laptops and Tablets in Cabins of Some Mideast Flights (BBG)
  • Tillerson no-show at NATO renews European disquiet about Trump (Reuters)
  • Don’t Blame Your Social Media Feed for the Growing Political Divide (BBG)
  • High-Frequency Traders Fall on Hard Times (WSJ)

America Is Hardly A Bastion Of Free Trade

Rhetoric has recently trumped reality. It has become a misconceived bit of common “knowledge” that the United States of America is a bastion of free trade. Little could be further from the truth.

Theresa May Will Trigger Article 50 On March 29, Starting Brexit Process

U.K.'s EU envoy Tim Barrow informed European Council President Donald Tusk’s office of Brexit trigger date Monday, Prime Minister Theresa May’s spokesman James Slack tells reporters in London. Slack says Britain will trigger Article 50 of the Lisbon Treaty, formally starting Brexit process, on March 29, via letter to EU

Is Denmark On The Brink?

"The Danes look at Sweden with absolute horror...Denmark is on the brink. And Europe is on the brink. We completely lost our culture, our values and our moral compass. What used to be good is now evil and vice-versa."