Norway

Europe's Blinkered Leaders: Shielding Themselves From Reality Again

When the G7 heads of state arrive in Taormina, Sicily, for the G7 meeting on May 26, they will find themselves in an embellished, picture-postcard version of European reality. Italy, the host of the G7 meeting, has announced that it will close all harbors on the island to ships that arrive with migrants ( mainly from Libya) for the duration of the two-day meeting.

Exposing The Soft Underbelly Of Scandinavian "High-Tax Happy-Capitalism"

Take away these unsustainable bubbles, and how "happy" will these economies (or their suddenly impoverished residents) be? Central planning based on central-bank inflated debt-asset bubbles works until it doesn't. The day of reckoning draws ever nearer in every economy that's created the illusion of solvency with debt/asset bubbles and export-dependent economies.

Frontrunning: May 15

  • Oil Jumps Over Output Deal (BBG), Saudi Arabia, Russia Favor Extending Oil Cuts Through Next March (BBG)
  • Trump Doctrine Confounds G-7 as Ministers Kick Can to Sicily (BBG)
  • Senate GOP’s agenda is at a moment of reckoning with unpredictable Trump (WaPo)
  • White House Races to Fill FBI Job (WSJ)
  • Former Trump Employees Say He Taped Phone Conversations (WSJ)
  • Monday morning blues as 'WannaCry' hits at workweek's start (AP)

An Epic Trading Take From Norway

We all know Buffett’s line about sitting around the poker table, but too often, we fail to apply it in our day to day trading or investing...

Key Events In The Coming Week: Inflation, Spending In The Spotlight

With the French election now finally in the rearview mirror, this week's focus is on global inflation releases, with the spotlight falling on the US and China. We also have BoE and RBNZ rates meetings. In other data we note industrial production in the Eurozone, UK and Norway along with US retail sales and Fed speakers.

Marx, Orwell, And State-Cartel Socialism

"Socialism" is simply another flavor of state-cartel capitalism; Orwell would be proud of all the simulacrum self-serving "socialists" who have managed to enrich themselves at the expense of those actually producing goods and services.