France

Are Illinois & Puerto Rico Our Future?

The days of interstate highway systems and moon shots seem to be behind us. Are Puerto Rico and Illinois the harbingers of what is to come?

Draghi Doesn't See "Bubbles" - Let Me Show You Some

"Ask yourself a question: On the day the ECB stops buying, which of you would buy peripheral or European bonds at these prices? Clearly, the first sign of a bubble is the absence of demand in the secondary that offsets the impact of the ECB..."

How The Fed Helps The US Spy On Foreign Governments

It's widely known that the Federal Reserve has been tasked by Congress with a "dual mandate" to maintain maintain stable consumer-goods prices, low unemployment and - oh yeah - buoyant equity prices.  However, as Reuters revealed on Monday, the central bank has another legally binding obligation that might upset some of its clients: Helping US intelligence agencies spy on foreign governments.

Key Events In The Coming Busy Week: Yellen, Inflation, Durables And GDP

The main releases this week are the durable goods report on Monday, the Q1 GDP revision on Thursday, and the personal income and spending report on Friday. There are also many speaking engagements by Fed officials including a speech by Fed Chair Yellen on Tuesday.

Italy Bank Bailouts Send European, Global Stocks Higher; Gold Flash Crashes

S&P futures point to a higher open following gains in Asia but mostly Europe, where stocks are sharply higher following the €17 billion bailout of the two Veneto banks in Italy, the biggest taxpayer funded bank rescue in modern Italian history, as well as Dan Loeb's activist campaign of the world's biggest food company, Nestle

The "World's Policeman" Retires On Disability

"The American neo-conservatives predicted the 21st century would be a 'New American Century'. Instead, it is becoming a 'New Chinese Century', with the United States still believing, wrongly, that it is the 'leader of the free world' and a 'super power'."

"The Medical System As We Know Is Going To Blow Up... And Soon"

"Think of the ObamaCare reform debate now playing in the US Senate as the final gurglings of polity that knows it is whirling around the drain. They’re pretending to attempt to fix a racket that comprises eight percent of the American economy...Nobody has any idea what anything costs."

Prepare For A Surge In Volume: Russell Rebalance Day Is Here

Welcome to the one year anniversary of the Brexit vote. Welcome also to the annual Russell rebalance, traditionally one of the busiest trading days of the year: last year's rebalance helped propel a near record turnover of over 15 billion shares. In fact, in four of the last five years, reconstitution day ranked in the 10 busiest trading sessions.

Albert Edwards: "Citizens Will Soon Turn Their Rage Towards Central Bankers"

"In an age of “radical uncertainty” how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their poverty – unelected and virtually unaccountable central bankers? I expect central bank independence will be (and should be) the next casualty of the current political turmoil."

Europe Slides For Third Day As Oil Attempts A Rebound; US Futures Flat

US equity futures were marginally in the red, while Asian markets rose and European stocks dropped. WTI oil rose 0.61% to $42.79 as some suggest the time to go long has arrived; oil tumbled 2.3% in the previous session. The Bloomberg Dollar Spot Index fell 0.1 percent.

Why The EU's Policy Towards The Syrian Conflict Is A Disaster?

"The European Union has to understand finally that idealism is simply magnifying human suffering and endangering the security of all parties. There is the realist alternative, which focuses on one’s own interest instead of morality."