• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Norway

Tyler Durden's picture

Frontrunning: November 18





  • Security jitters drive European investors back to safe havens (Reuters)
  • Global Anti-ISIS Alliance Begins to Emerge (WSJ)
  • Merkel says cancelling soccer match was 'responsible' decision (Reuters)
  • Paris attacker may have had accomplice on journey through Balkans (Reuters)
  • Drop Assad demands if you want to unite against Islamic State: Russia to West (Reuters)
  • Putin sets up commission to combat terrorism financing (Reuters)
 
Tyler Durden's picture

Rich Nation Problems: Even If Norway Wanted To Do QE, They Couldn't





"My guess is that we will have negative rates in Norway before there will be any talk of QE"...

 
Tyler Durden's picture

The European Union Is Disintegrating: Austria Builds New Fence; Germany, Sweden Resume Border Checks





In the latest from Europe's border battles, Austria has responded to Slovenia by building its own version of an anti-migrant fence while Sweden has began checking trains coming from Denmark and removing anyone without the proper papers. Saving Schengen truly is a "race against time."

 
Tyler Durden's picture

Officials Are "90% Sure" There Was A Bomb On Doomed Russian Passenger Plane





“Normally, policemen are not allowed on the tarmac. Recently, they’re being asked to spend nights beneath jets.”

 
Tyler Durden's picture

Futures Rebound From Overnight Lows On Stronger European Manufacturing Surveys, Dovish ECB





On a day full of Manufacturing/PMI surveys from around the globe, the numbers everyone was looking at came out of China, where first the official, NBS PMI data disappointed after missing Mfg PMI expectations (3rd month in a row of contraction), with the Non-mfg PMI sliding to the lowest since 2008, however this was promptly "corrected" after the other Caixin manufacturing PMI soared to 48.3 in October from 47.2 in September - the biggest monthly rise of 2015 - and far better than the median estimate of 47.6, once again leading to the usual questions about China's Schrodinger economy, first defined here, which is continues to expand and contract at the same time.

 
Tyler Durden's picture

"Social Expenditures" In the US Are Higher Than All Other OECD Countries, Except France





While redistributive social spending in the US is indeed different from many other countries, the overall magnitude is actually greater (both proportionally and in absolute terms) in the US than in almost all other countries measured. One can argue that the way that the wealth is redistributed through public policy in the US is "wrong" or "suboptimal." But, to argue that there is less redistribution as a result of public policy in the US than elsewhere is simply wrong.

 
Tyler Durden's picture

The 'Bernwashing' Of America





Bernie Sanders supporters seem to be everywhere. 49% of Democrats now have a favorable view towards socialism. This is scary. And sad. No matter how it is wrapped, socialism is still the belief that we can raise people out of poverty by taking money out of the hands of those who have learned how to produce. And it has never worked. Socialism always fails because at some point people realize they don’t have to work as hard to get the same amount of stuff. It takes all the incentive away to really succeed.

 
Tyler Durden's picture

The Housing Bubble Is Biggest In These Cities





"House prices have decoupled most from local incomes in Hong Kong, London, Paris, Singapore, New York and Tokyo. Buying a 60-square-meter apartment exceeds the budget of most people who work even in the highly-skilled service sector. Loose monetary policy has prevented a normalization of housing markets and encouraged local bubble risks to grow"

 
Tyler Durden's picture

Deutsche Bank Reports Massive Loss, Will Cut 35,000 Jobs, Exit 10 Countries In Sweeping Overhaul





As tipped earlier this month, Deutsche Bank just turned in a Q3 loss of €6 billion as a raft of writedowns hit the bottom line. The bank also announced more details of "Strategy 2020", which include layoffs and a corporate rethink that will see Europe's largest bank exit a multitude of markets. 

 
Tyler Durden's picture

World's Largest Sovereign Wealth Fund Has Worst Quarter In 4 Years After Losing 21% On Chinese Stocks





Norway's $860 billion sovereign wealth fund (tasked with managing the country's vast oil wealth) just had its worst quarter in 4 years and its first back-to-back quarterly loss since 2009 after an array of EM bets went awry. Meanwhile, the government is set to start making withdraws from the fund as slumping crude prices have effectively reduced inflows to zero. 

 
Tyler Durden's picture

Sweden Launches MOAR QE, As Krugman Paradise Quadruples Down After Dovish Draghi





Fearing the size of Mario Draghi's bazooka (so to speak), Sweden's Riksbank has just expanded QE by SEK65 billion, marking the fourth expansion in nine months and serving notice that the beggar-thy-neighbor, monetary madness gripping DM central banks isn't likely to dissipate anytime soon.

 
Tyler Durden's picture

"Giant Wave Of Money" Heads For Sweden, As Draghi Creates "Nightmare" For Riksbank





"The nightmare for the Riksbank board is maybe something like this: they are gathered in the south of Sweden, looking out over the Baltic Sea, when they see a giant wave of money coming in from the euro zone and try to fight it with a hose."

 
Capitalist Exploits's picture

Desperate Times Call for Absurdity





How governments all around the world resort to absurd marketing to finance largesse

 
Tyler Durden's picture

Is Russia The King Of Arctic Oil By Default?





To be king implies preeminence, or lasting rule. In the Arctic, such oil and gas supremacy is still little more than a dream. That dream remains alive in Russia however, and the nation – through an unmatched stubbornness and a decidedly timid field of competitors – is making a strong bid for the throne.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!