Foreign Investments

The Senate War Against Border Tax Begins

Today, the war against BAT fired its first salvo, when the previously profiled Senator David Perdue of Georgia, former CEO of discount retailer Dollar General, emerged as the top Republican critic of the House GOP plan to adjust business taxes at the border, threatening the divisive proposal's legislative prospects.

Central Banker Sees "Scary" 2017

Q. When you look ahead to 2017, what keeps you awake at night?
A
. Short term, the Fed rate hikes. Medium-to-long term, the retreat from multi-lateralism related to the performance of the global economy - the major and various economies, and emerging markets like China.

This Is What Hillary Clinton's Advisors Really Think Of The American Public

ACQ: “Look, it doesn’t matter what you or I think. The President wants the TPP, and the Party isn’t going to oppose him....They don’t see much of a risk. Most Americans don’t know or care about the TPP.”

RR: “But they know big corporations are running economic policy. They think the whole system is corrupt. Believe me, Trump will use this against Hillary.” ACQ: “I think you’re being too cynical.”

Revenge Of The Rubes - Why The Days Of The Financial Elite's Rule Are Numbered

The truth is, it is the “European Project” which represents the darker impulses -  it is a tyranny based on a muddled brew of globalism, statism, financialization and the cult of central banking. It’s days are numbered because even the rubes can see that it doesn’t work, and that its massive internal contradictions are heading for a spectacular implosion. The British voters have decided to get out of harms’ way. Hopefully, there will soon be many other cases of the rubes in revolt.

Democrats Claim Russian Hackers Stole Their Anti-Trump Research

Russian government hackers penetrated the computer network of the Democratic National Committee and gained access to the entire database of opposition research on GOP presidential candidate Donald Trump, according to committee officials. The networks of presidential candidates Hillary Clinton and Donald Trump were also targeted by Russian spies, but as The Washington Post reports, the intruders so thoroughly compromised the DNC’s system they also were able to read all e-mail and chat traffic.

Saudi Arabia To Tax Millions Of Foreign Residents To Raise Cash

Although oil has rebounded off the recent lows, the Saudi budget remains stretched and in an attempt to help raise revenues in the short term (and transition away from dependency on oil in the longer term), the government is weighing an income tax on expat workers. There are nine million foreigners living and working in Saudi Arabia said Mufrej Al-Haqbani, the country's labor minister, and Finance Minister Assaf said that there are no plans to tax Saudi nationals.

Japan Banks May Soon Pay Borrowers To Take Out Loans

Japanese banks may soon pay borrowers to accept loans if they can raise funds at even cheaper rates. Negative interest-rate lending is increasingly becoming a reality since the Bank of Japan started levying charges on idle cash. Lenders can now borrow for three months in the Tokyo interbank market at a record-low 6 basis-point annualized rate, versus 17 basis points since the BOJ move in January. They may eventually be able to be paid to borrow and then profit by paying less to lend, according to Credit Suisse Group AG, JPMorgan Chase & Co. and SMBC Nikko Securities Inc. This is also known as shoving money down people's throats... and then paying them for it.

Voices Of Reason In An Unreasonable World - Meet The Free-Market Economist That Stood Up To Hitler

"The loss of traditional human connections, the dehumanization of man in mass society, and the corruption of the political and economic marketplaces, Röpke argued, had created the sociological and psychological conditions for the emergence of and receptivity to the collectivist idea and its promise of a new community of a better society designed according to a central plan." In the dark days immediately following the rise to power of Adolf Hitler and his Nazi movement in Germany in January 1933, Willhelm Röpke refused to remain silent. He proceeded to deliver a public address in which warned his audience that Germany was in the grip of a "revolt against reason, freedom and humanity."

Frontrunning: February 8

  • European stocks plunge as Lunar New Year offers no cheer (Reuters)
  • European Stocks Fall, Credit Weakens as Signs of Distress Abound (BBG)
  • Management trouble at world's biggest hedge fund: Bridgewater succession plan in flux as heir Greg Jensen steps back (FT)
  • U.S. athletes should consider not attending Olympics if fear Zika - officials (Reuters)
  • Geithner Gets JPMorgan Credit Line to Invest With Warburg Pincus (BBG)
  • Top Clinton Donor Wants a Law Against $1 Million Gifts Like His (BBG)