Puerto Rico

Frontrunning: January 24

  • Dollar steadies after stumble, sterling rides out Brexit ruling (Reuters)
  • After U.S. exit, Asian nations try to save TPP trade deal (Reuters)
  • U.K. Court Rules Brexit Trigger Needs Parliamentary Vote (BBG)
  • Brexit plans unlikely to be slowed by Article 50 defeat (Reuters)
  • Health Secretary Nominee Proposed Bill Benefiting Puerto Rico Investments (WSJ)

The Dallas Pension Fiasco Is Just The Beginning

The recent blow-up of the Dallas Police and Fire Pension System was entirely predictable. The combination of overpriced financial markets, inadequate contributions and overly generous pension promises mean dozens of US local and state government pension plans will end up in the same situation.

What Puerto Rico Can Teach Us About The Minimum Wage

This week, twenty states began implementing minimum wage increases that were passed during 2016. As the country waits to see how these increased wages this will affect the economy, the U.S. territories have already provided us with a grim example.

Airport Shooter Said He Was "Mind Controlled" By A U.S. Intelligence Agency

Santiago told the F.B.I. he thought he was being mind controlled, possibly by the U.S. government or the C.I.A. and admitted hearing voices, which Santiago said told him to study “extremist materials on the Internet,” the New York Times reports. Despite the fact that Santiago himself, his girlfriend, and even co-workers warned authorities of his experiences the F.B.I. failed to detain him before his travels to Florida.

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

Fake News And War Party Lies

American policitians claim the “propaganda and disinformation threat” against America is real, and we must “counter and combat it.” Yet it is often our own allies, like the Brits, and our own leaders who mislead and lie us into unnecessary wars.

Key Events In The "OPEC Is Optimistic About A Deal" Week

The key economic releases this week are consumer confidence on Tuesday, ISM manufacturing on Thursday, and the employment report on Friday. There are a few scheduled speaking engagements from Fed officials this week. The Beige Book for the December FOMC period will be released on Wednesday.