US equity futures are unchanged, trading near record highs after digesting a spate of earnings results on Thursday. The dollar pared its weekly loss as the yen and pound slid, while gold headed for its longest slump in three months. European equities fell and markets in Asia were mixed at the start of Lunar New Year holidays.
The world that President Obama bequeaths to President Trump may not have all the same dangers that Bush left to Obama but the post-Obama world has hazards that Obama did more to create than to resolve - and some of the new risks may be even scarier.
Establishing safe zones in Syria would mark an escalation in America’s military involvement there: in addition to the initial military buildup that likely would be needed to create the zones, ground troops and additional air power will be needed to protect them. Such zones would also put U.S.-allied forces in dangerous proximity to foreign troops, including forces from Russia.
Last week as Trump was preparing to take office, New York Times declared "the big winner" of the change in US presidents was Vladimir Putin. So how did he do it? The answer is not by blackmailing Trump, hacking the DNC, or any other such nonsense put out by disappointed Clintonites. Rather, Putin prevailed through a combination of skill and luck. He played his cards well, and had the good fortune of having an opponent who played his own hand extremely poorly - Russia won because America lost.
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust ...”
Something just happened, something we have not experienced for many years... someone suffered consequences for their actions. After over 120,000 Americans signed a petition to fire the Saturday Night Live writer who viciously targeted President Trump’s 10-year-old son Barron in a crude tweet designed to demonize the first family, SNL has chosen to suspend Katie Rich indefinitely.
It’s important to understand what this means. The fact that the dollar is overvalued isn’t some big prize. It’s not an indication that America is #1, the dollar is King, or that the US economy is strong. This is a bubble...
Russian and Turkish combat planes have carried out a new series of joint airstrikes against Daesh targets in war-torn Syria, the Russian Defense Ministry said on Monday. "The Russian and Turkish planes carried out joint airstrikes against Islamic State terrorists in the outskirts of the town of al-Bab in Aleppo province on January 21," the ministry said in a statement.
The key economic releases this week are durable goods and GDP on Friday. On the political front, the focus will be is on the first actions of the Trump administration including moves on TPP and NAFTA. There are no scheduled Fed speeches this week.