How do you know the Fed is justified in hiking again, the economy is recovering, and the market are zooming higher? One hint is the just announced thousands in layoffs in both the energy and tech sector, among which are Shell, which announced it would layoff 2,200 jobs; Microsoft reporting it would cut 1,850; and Intel terminating up to 350 jobs in Germany.
In early June the Swiss will be called upon to make a historic decision. Switzerland is the first country worldwide to put the idea of an Unconditional Basic Income (of $2,500 per month for every man, woman, and child for doing absolutely nothing) to a vote and the outcome of this referendum will set a strong precedent and establish a landmark in the evolution of this debate. The main argument of the supporters of this initiative is that it would support the people that will, or already do, lose their jobs to automation and technological progress; a defensive move against “the rise of the robots” as they put it. The promise of a free lunch is by no means a new thing in politics. Getting “something for nothing” is an age-old shiny trinket that has been dangled before the eyes of the public since time immemorial...but at the end of day, someone will have to pay for it.
It’s showdown time. The IMF has threatened it will pull out of the Greek bailout program unless Greece gets debt relief. German Chancellor Angela Merkel, Austria, Finland, and the other Eurozone creditors will not like today’s development one bit.
Nuclear power is not commercially viable but has become a state-sponsored technology. There is nothing wrong with state supported technology. But we could save a lot of time and money by not pretending that it is something else.
Akin to ancient Rome, the United States has over-extended herself. She has created a climate that could easily be transformed into a war on a slight pretext. Wars, as it is well known are also a means a nation can extricate itself from debt and financial responsibility. The dying Petrodollar system has been on life support for some time, and it appears other nations such as the BRIC’s are taking the initiative to return to a true monetary standard. This is the same gold and silver standard that the U.S. should never have left in the first place.
The SPV Loophole: Draghi Just Unleashed "QE For The Entire World"... And May Have Bailed Out US ShaleSubmitted by Tyler Durden on 04/22/2016 17:38 -0400
"The ECB stands ready to buy bonds from Euro Area issuers even when their parent companies are outside of the bloc. Already we can find a number of US, UK and Swiss headquartered names that issue out of SPVs incorporated in the Euro Area. If this trend to SPV issuance catches on, then the ECB’s policies will likely be very reflationary for all credit markets across the globe, and because of a likely refinancing wave – equity markets too."
Swedish law only allows the government to operate border controls six months at a time, and there is a two-week waiting period before the controls can be reinstated. The two-week lapse is scheduled for July 4-17; many fear that tens of thousands of migrants will seize the opportunity to enter Sweden during this time.
While the Pfizer-Allergan $160 billion merger may be the most notable casualty of the Treasury's decree, there are various other deals working on corporate inversion deals or who have carried out inversions in the past. They are shown in the list below,
Will We Learn History ... Or Repeat It?
If we continue to put garbage in, we are going to continue to get garbage out, and that is the cold, hard reality of the matter.
Amid secular stagnation, the Eurozone's old fiscal, monetary and banking challenges are escalating, along with new threats, including the Brexit, demise of Schengen, anti-EU opposition and geopolitical friction. Brussels can no longer avoid hard political decisions for or against an integrated Europe, with or without the euro.
"Returned Syria fighters are a huge threat... It is absolutely unbelievable that our governments allow them to return... Every government in the West, which refuses to do so [lock them up], is a moral accessory if one of these monsters commits an atrocity. ... Our citizens are in mortal danger if we do not restore control over our own national borders."
At the same time as the PBOC was cautioning about the dangers of excess debt (just as it injected a record amount of loans into the financial system), China's central bank warned about dangers from a stock market bubble, and perhaps just to assure the bubble gets even bigger, at the same time China eased on margin debt limits, in the process sending Chinese stocks soaring higher by 2.2%, and pushing the Shanghai Composite over 3000 for the first time in months as China now appears set to attempt another housing bubble "soft landing" while at the same time restarting its housing bubble.
If Europeans think they have a migrant problem now, just wait until they institute a basic income. It’s obvious what will happen...
Any project attempting to fuse these disparate cultures into one monolithic state over the course of just 70 years was by its very nature doomed. It would inevitably encounter insurmountable levels of nationalistic resistance, and eventually the project would stall. That is the point at which we now find ourselves.