Unemployment

Low Interest Rates Subsidize Wealthy Households

The above thought experiment illustrates that central bank interest rate cuts are essentially tax cuts for the rich. To be consistent, those who oppose tax cuts for the rich should also stand against monetary policy that disproportionately benefits the richest households as well.

Exit Polls Project Sweeping Victory, Supermajority For Japan's Abe

Japan Prime Minister Abe's ruling coalition is set for a sweeping victory in Sunday's general election, and may retain the two-thirds parliamentary majority needed to revise Japan's constitution, according to an NHK exit poll. Shortly after polls closed at 8pm, an NHK exit poll showed that Abe’s Liberal Democratic Party and coalition partner Komeito are set to win between 281 and 336 seats of the 465 total.

Meet The Eccentric, Euroskeptic, Czech Billionaire Who Will Become Prime Minister

The Czech election takes place today, with the “Czech Donald Trump”, Andrej Babis, expected to be voted in as Prime Minister. Babis - the "Czech Donald Trump" - is the country's second wealthiest person, and is demanding the return of greater sovereignty from the EU, rejects the Euro and is against Muslim immigration. He has pledged to run the country like a business, while eliminating corruption.

Bank Of America: "This Could Send The Nasdaq To 10,000"

"Capitulation of bond bears would send 30-year Treasury yields toward 2%, the Nasdaq toward 10,000, and high yield & Emerging Market bond spreads 100bps tighter. The outperformance of “deflation” versus “inflation” could turn exponential..."

Peter Schiff Warns Of "Calm Before The Storm"

"Investors may be trying to convince themselves that the outcome will be different this time around. But the only thing that is likely to be different is the Fed's ability to limit the damage..."

Global Markets Shaken By Sudden Equity Sell-Off: Hong Kong Crashes, VIX Surges

Global markets have been shaken by a sudden wave of overnight equity selling as worst case scenario for Spain finally materialized, while a slide in Apple stock has spiked the VIX, which coupled with a plunge in the Hang Seng and several other notable macro events may have finally woken up from their comatose state.