Finland

80% Of Central Banks Plan To Buy More Stocks

Invesco recently released a report on central-bank investment polling 18 reserve managers around the globe. It found that 80% planned to buy more stocks in the future.

Frontrunning: January 20

  • How Trump Aims to Broadly Reshape Policy (WSJ)
  • Trump Calls for Unity at Opening Concert as Inaugural Festivities Begin (NYT)
  • Trump Takes the Reins of a Deeply Divided Nation (BBG)
  • Washington braces for anti-Trump protests, New Yorkers march (Reuters)
  • After the Parties, a Protest for the Ages (WSJ)

The Dangers Of A "Universal Basic Income"

As has always been the case, it is necessary to create wealth before it is possible to redistribute it, and policies that encourage movement toward less productive types of work will fail to produce the wealth that government planners would like to spread around.

Frontrunning: January 17

  • Theresa May pledges clean Brexit break (FT); May Pledges Vote on Brexit Taking U.K Out Of EU’s Single Market (BBG)
  • Donald Trump Warns on House Republican Tax Plan (WSJ)
  • Trump, Fed Headed for Clash Amid Dollar Surge, Economists Say (BBG)
  • China’s Xi Warns Against Trade War in Defense of Globalization (BBG)
  • Morgan Stanley Profit Rises on Surge in Bond-Trading Revenue (BBG)
  • Germany says NATO concerned about Trump 'obsolete' remark (Reuters)

Size Matters - No Country Should Be Bigger Than This

Even for those who want states to provide certain amenities, many modern states are far, far greater in size and scope that what is even necessary to provide those amenities in the first place. Unfortunately, the primary effect of bigness in these states is to enhance the power of the state and limit the ability of citizens to escape the state's taxes and impoverishing regulations.

Living Wage Idiocy And Free Money Experiments

The problem is not insufficient wages. The problem is fractional reserve lending coupled with a Fed hell-bent on creating inflation in a technologically deflationary world. Misguided minimum wages hikes, public unions, and political corruption all exacerbate the problem.

In Humiliation For Beppe Grillo, Pro-EU Liberal Group Blocks Alliance With 5-Star Movement

Beppe Grillo, the leader of Italy’s eurosceptic Five Star Movement was humiliated when he was blocked from joining the European Parliament’s pro-EU liberal group, just one day after Grillo burned bridges with Nigel Farrage's UKIP, demonstrating what Farage would later call a wish to join the "Euro-fanatic establishment." As a result of today's fiasco, Grillo's political fate is suddenly in question.

Poland Acquires First Strike Capability To Pose Threat To Russia

There are reasons to believe that 2017 will be the year when tensions in the Old Continent are reduced. The Russian Foreign Ministry has just confirmed this view in a statement. But Poland seems to be marching out of step. The JASSM-ER deal is a highly provocative step towards Russia undermining the security of Europe and positioning Poland at the frontline of the arms race.

Turkey's "Long Arm" In Europe

Turkey is exporting its political wars and tensions to Europe. That is not a good sign for the Old Continent.

Global Stocks, US Futures Rise In Thin Trading As Volumes Plunge

Most world markets have reopened following the holiday weekend, but trading volumes remain significantly muted. Asian and European shares advance modestly amid low volumes with U.K. and Ireland closed; S&P futures are little changed while the dollar rose and oil extended its longest winning streak in four months.