recovery

Frontrunning: March 7

  • Trump’s New Travel Ban Replaces Chaos With Calm (BBG)
  • Indian Firms Look to Get Ahead of Immigration Curbs (WSJ)
  • Republicans unveil plan to dismantle Obamacare (Reuters)
  • Republicans Unveil Health Care Bill to Bridge Gaps in Party (BBG)
  • Wiretap Allegation Places Trump Nominee on Hot Seat (WSJ)
  • German, U.S. finance ministers to meet in Berlin next week (Reuters)

It's What's Happening Beneath The Surface That Matters: Moral Decay And Rising Inequality

Corralling the Fed, staunching the flow of money into politics and limiting the predations of Big Government on civil liberties and economic freedoms would be welcome reforms, but they won't be enough. The moral rot has hollowed out not just these institutions of governance and power, but the entire social order and the mode of production.

America's Miserable 21st Century

The Great American Escalator is broken - and it badly needs to be fixed. With the election of 2016, Americans within the bubble finally learned that the 21st century has gotten off to a very bad start in America. Welcome to the reality. We have a lot of work to do together to turn this around.

Peso Surges, Dollar Tumbles After Wilbur Ross Comments

The Mexican Peso surged back below 20/$ this morning after new Commerce Secretary Wilbur Ross comments on the potential for peso recovery in a "sensible" NAFTA deal. Along with comments on Germany and Euro weakness, Ross also sent the USD index markedly lower (after 5 straight days higher).

All Eyes On Yellen After US Futures, Euro Stocks Rebound On Latest French Polls

World stocks pulled back from all time highs, and European bourses initially followed U.S. futures and Asian shares lower, however both European risk sentiment as well as E-Minis rebounded after an Odoxa poll showed Macron overtaking Le Pen in the 1st round for the first time, and that the addition of Juppe instead of Fillon may see a 2nd round run-off between Macron vs Juppe, leading to a slump in Bund futures to session lows, and a bounce in European stocks.

Venezuela Is Down To Its Last $10B As Debt Payments Loom

Venezuela’s financial report for 2016 stated that roughly $7.7 billion of the remaining $10.5 billion in foreign reserves had been preserved in gold. Last year, in order to fulfill debt obligations, Caracas began shipping gold to Switzerland.

Beware The Bakken

It’s the beginning of the end for the Bakken Shale play...

The Fed's Dependence On The Consumer Will Backfire

The story is that it is consumers that are going "to push the economy to grow more than 2 percent this year." That's Dallas Fed President Robert Kaplan's recently expressed view. It's the old fallacy of spending - rather than saving - our way into growth.

BCBG Max Azria Files For Bankruptcy

BCBG Max Azria, known for party dresses worn by celebrities including Selena Gomez and Drew Barrymore, became the latest casualty of the struggling US retail sector. It listed assets in the range of $100 million to $500 million and liabilities in the range of $500 million to $1 billion.