It would be nice if we could figure out a way to make our economy last forever, but it is doubtful that we can. Ultimately, the battle between diminishing returns and increased complexity seems likely to be settled in a way that causes the economy to collapse.
Empty labels, fake news and oceans of debt keep the systems - somewhat - going for now. But the genie’s long left the bottle. The ‘incumbents’ have failed their people for far too long, most of all economically. And they keep on claiming that everything will be alright, everyone will be better off if only we execute more globalization, and give them all a few pennies more.
UK failed to measure huge imports of gold coins and bars after Brexit vote. Britain’s trade deficit with the rest of the world is £6 billion larger than previously thought — and at a record high — because the nation’s bean counters made a mistake in their sums.
A populist tsunami is washing through Europe. It will drastically change the Continent’s political landscape in a way not seen since before World War II. This wave will flush away traditional “mainstream” parties and usher in anti-establishment populists who want to leave the euro currency and the European Union.
The European Commission has fined Crédit Agricole, HSBC and JPMorgan Chase, a total of €485m for participating in a cartel concerning the pricing of interest rate derivatives denominated in euros. “The aim of the cartel was to distort” Euribor, said EU competition policy chief Vestager. The traders involved "tried to submit quotes to move the Euribor rate up or down."
Global stocks extended the longest winning streak since September, with Asia up 0.8% and Europe rising 0.7% while bonds and credit markets strengthened amid hopes that the European Central Bank will prolong quantitative easing, while optimism an Italian bailout of Monte Paschi will prevent European bank contagion, has pushed European financial stocks higher. US equity futures were little changed.
It might look like a golden age for free speech: more than a billion tweets, Facebook posts and blogs every day. But beneath this surface, freedom of expression is dramatically retreating, and under this dictatorship of political correctness, the only "win-win" is for political Islam.
The U.S. monthly international trade deficit increased in October 2016 according to the U.S. Census Bureau, rising from $36.2 billion in September (revised lower from $36.4 billion) to $42.6 billion in October, higher than the $41.8BN consensus estimate, as exports decreased and imports increased which was to be expected following the recent surge in the US Dollar.