European Union

Dow Set To Open Above 22,000 As Global Stocks Levitate Higher

Welcome to August: you may be surprised to learn that S&P 500 futures are once again levitating, higher by 0.3%, and tracking European and Asian markets, with DJIA futures higher by over 100 points this morning, the Dow Jones is set to open above 22,000, a new all time high as Asian stocks hit a new decade high.

Frontrunning: July 28

  • ‘Skinny’ Repeal of Obamacare Fails (WSJ)
  • Bad News If You Make $150,000 to $300,000: Higher Taxes for Many (WSJ)
  • Senators Move to Block Trump From Ousting Sessions (WSJ)
  • Amazon’s Expansion Takes Toll (WSJ)
  • Japan Slaps 50% Tariff on Some U.S. Beef (WSJ)

Silicon Valley Censorship

Google's latest project is an application called Perspective, which, as Wired reports, brings the tech company "a step closer to its goal of helping to foster troll-free discussion online, and filtering out the abusive comments that silence vulnerable voices." In other words, Google is teaching computers how to censor.

Frontrunning: July 27

  • Healthcare showdown (Reuters)
  • Tax Overhaul in Doubt With House Stuck on Budget Disagreements (BBG)
  • Dollar steadies after Fed skid, shares hit new highs (Reuters)
  • Samsung Is Closing In on Apple as World’s Most Profitable Tech Firm (WSJ)
  • Sweden's PM Refuses to Resign After Cyber-Security Scandal (BBG)

EU To Force Poland, Hungary And Czech Republic To Accept Refugees

One month after the EU's executive Commission launched legal cases against Poland, Hungary and the Czech Republic for "defaulting on their legal obligations" by refusing to accept migrants, on Wednesday the three Central European nations suffered another blow after Brussels mounted a legal fightback to force them to comply with EU refugee quotas.

EU Gives Poland One Month Ultimatum, Threatens With "Article 7 Procedure"

The European Commission escalated the diplomatic row between Brussels and Warsaw when it announced that the EU was launching legal infringement proceedings and giving Warsaw a one month ultimatum over one of the recently passed reforms to Poland's court system, threatening that the country's voting rights could be suspended

Frontrunning: July 26

  • Oil bounce, results keep stocks on high (Reuters)
  • Healthcare brawl returns to Senate floor (Reuters); Senate Sets Up Health Votes for Chaotic Obamacare Debate (BBG); Health Debate Rolls On After First Option Fails (WSJ)
  • Who Will Blink First in the Sessions Standoff? (BBG)
  • Iran Says ‘Hostile’ U.S. Sanctions Vote Undermines Nuclear Deal (BBG)
  • Russia Warns of ‘Painful’ Response If Trump Backs U.S. Sanctions (BBG)

EU Faces Dilemma: To Stand Tall Or Kneel

"Until now Europe has failed to resist American pressure. This is another opportunity to take a stand and defy Washington. The European Commission will discuss next steps today... The outcome will be a litmus test for Europe's unity to show whether the bloc is really a powerful alliance of the countries ready to protect their interests or it is nothing more than a puppet on a string dancing to the US tune."

The Current Big Lie Is...

"The Big Lie today is this: that the reason for the economic sanctions against Russia, is that 'Putin' or Russia 'stole' or 'conquered' or 'seized' the Crimea region of Ukraine. The Big Truth, about the matter, is that US President Obama conquered Ukraine itself (all of it), via a February 2014 CIA coup that he had secretly started planning by no later than 2011..."