International Monetary Fund

IMF Slashes US GDP Growth Outlook: Now Sees US Growing Only 1.6% In 2016

Having observed consensus economic growth expectations for the US tumble month after month, in its latest World Economic Outlook, the IMF decided to once again play catch down from its over-optimistic +2.2% outlook in July to just 1.6% now  which still remains above consensus expectations of just 1.5% growth in 2016, pouring cold water on Obama's strategy to paint the economy as growing strongly.

Frontrunning: September 28

  • Stocks Rally as Deutsche Bank Slump Ends, Oil Gains Before Talks (BBG)
  • German government prepare Deutsche Bank rescue plan (Reuters)
  • German financial watchdog not working on emergency plan for Deutsche Bank (Reuters)
  • Saudi Arabia Signals Openness to Future Oil Compromise With Iran (BBG)
  • Will Congressional Face-off Over Flint Lead to a Government Shutdown? (NBC)
  • Shimon Peres, Israel's last founding father, dies at 93 (Reuters)

The FT Goes Full Fearmonger: Electing Trump "Would Unravel The World"

"Sometimes history jumps. Think of the first world war, the Bolshevik revolution, the Great Depression, the election of Adolf Hitler, the second world war,... We may be on the brink of an event as transformative as many of these: the election of Donald Trump as US president. This would mark the end of a US-led west as the central force in global affairs. The result would not be a new order. It would be perilous disorder."

Wells Fargo: Who Says Crime Doesn't Pay

As scandalous as the Wesll Fargo debacle was, what is far more insidious, is the damage it inflicts (once again) upon the very fabric of free market capitalism, trust in laws, and last but not least: trust and belief in actual contrition.

The Existential Madness Of Putin-Bashing

Official Washington loves its Putin-bashing but demonizing the Russian leader stops a rational debate about U.S.-Russia relations and pushes the two nuclear powers toward an existential brink.

Greece Raids Home Of Central Bank Head

While the US the media lashes out at Trump every time he dares to tell the truth that the central bank is a biased, engaged, political member of the decision-making landscape, other "developed" countries are happily willing to demonstrate just how apolitical the central bank truly is. Take Greece, for example, where today the chief prosecutor ordered a raid of the home of the governor of the Greek central bank.