Donald Trump exclaimed "I'm not flip-flopping on immigration, we want to come up with a really fair but firm answer," this morning after meeting with his newly announced Hispanic advisory council this weekend in an effort to figure out a “humane and efficient” manner to deal with immigrants in the country illegally.
Italian Prime Minister Matteo Renzi hosts German Chancellor Angela Merkel and French President Francois Hollande on an island off the coast of Naples ahead of September's EU summit called to discuss reverberations from the Brexit vote. "They will be coming to discuss how to relaunch Europe from the bottom up, there's a big need," Renzi said on Sunday. "Relaunching Europe is a totally open game but it needs to be played."
Anywhere you start a business, it's going to be a gamble. More new businesses fail than succeed, according to the Kauffman Foundation. So it's important to set up in an area where the odds are in your favor. Some cities are more hospitable to business formation than others. Regulatory hurdles, tax rates, ease and cost of hiring, and cost of real estate are just some of the factors. Cities across the country are also dealing with demographic challenges, including population growth, an aging workforce and economic stagnation. Here are the worst 10 cities...
“What socialists like Senator Sanders should say if they want to be truthful and straightforward,” DiLorenzo thus avers, “is not that government can offer citizens anything for free, but that they want healthcare (and much else) to become a government-run monopoly financed entirely with taxes. Taxes hide, but do not eliminate, the cost of individual government programs.” And these programs are far more expensive to society than they would be on the free market.
"Reject cynicism. Reject fear" exclaimed an exuberant Barack Obama, adding that "America is already great." The problem with all this bravado is... you can't eat 'hope' and 'faith' does not put gas in the tank.
European, Asian stocks and S&P futures all fell in another quiet, low-volume early session. With oil entering a bull market yesterday, and set for its longest run of gains in 4 years after, overnight crude stumbled, and reversed early gains, falling for the first time in seven days driven by rebound in the dollar which gained versus all G-10 currencies with commodity currencies underperforming.
For the establishment, his billions mean nothing; Trump’s treated like a bum. Underneath all this sound and fury, something else is (quietly) going on. Powerful business interests discreetly supporting Trump – and away from the media circus — are convinced he’s got the road map to victory. The question is whether he may be able to tame his erratic behavior to seal the deal.
With Bernie's introduction of the "Pay Workers A Living Wage Act" the idea of a $15 per hour federal minimum wage is becoming far more real. This study takes a look at how each of the 50 states may be impacted... (spoiler alert - not well)
In the US the year-on-year trend for productivity has turned negative . Most central bankers dismiss this fact as a short-term aberration. But the Japanese economy provides an example of what interest rates at or near zero can do to a large, developed economy. The answer is not much: not much real growth; not much inflation - and, together, not enough nominal GDP growth to repay historic debt should yields on sovereign debt ever return to normal.
"Yellen might argue that conditions are increasingly being met to further normalize rates before the end of the year, consistent with the latest communication from the FOMC. However, we do not expect guidance on the exact timing of the next hike.Yellen might argue that conditions are increasingly being met to further normalize rates before the end of the year, consistent with the latest communication from the FOMC. However, we do not expect guidance on the exact timing of the next hike."
In the latest quiet trading session, European shares rose while Asian stocks fell and S&P futures were little changed. Minutes of the Fed’s last meeting damped prospects for a U.S. interest-rate hike, sending the Bloomberg Dollar Spot Index doen 0.3%, approaching a three-month low. Dollar weakness continues to buoy commodities, with the Bloomberg Commodity Index set for the most enduring rally in more than two months, as WTI flirted with $47
A discussion of why any knee-jerk falling gold and silver price responses to more hollow “hawkish” Federal Reserve minutes or even to future too-little, too-late, actual small interest-rate increases should be completely disregarded.
"I have hedges on, I'm more hedged than I ever was. [The market] is way overvalued at 20 times the S&P and I'll tell you why: a lot of it is a result of zero interest rates. That's going to be hurt. There's going to be a day of reckoning here. I've seen it many times in my life. When things look good, they look great. You go into the sky. But that's when you have to really pull down and really stop buying."