Wall Street Journal

Frontrunning: May 25

  • World stocks hit record after Fed minutes (Reuters)
  • OPEC extends oil output cut by nine months to fight glut (Reuters)
  • Father and Brother of Manchester Bomber Arrested in Libya (BBG)
  • In testing Montana vote for Trump, Republican caught up in brawl (Reuters)
  • NATO to Take New Counterterrorism Measures (WSJ)

Can The US Economy Ever Get Back To 3% GDP Growth?

It is really about reasserting the preeminence of humans – the workforce – in any calculus of macroeconomic policy. Make them (us, really) more productive, and the economy will grow faster. And if that is impossible, and with it that 3% target, then technology will replace the worker rather than simply augment his or her efforts.

From America Worst To America First In One Presidency

President Donald Trump’s Sunday address in Saudi Arabia was bound to inspire comparisons to the speech Barack Obama delivered in Cairo, Egypt at a similar point in his young presidency. But the 45th U.S. President quickly made clear that he did not fly to the Middle East on his first overseas trip in order to explain what’s wrong with America...

Are Auto-Makers Bailing On Their Job-Creation Pledges?

Carmakers quickly kowtowed to Trump after his 'surprise' win in November, allowing the then-president-elect to take credit for their pledges to hire thousands of workers and keep U.S. factories open. At the time, fears of a 35% import tax were enough to keep them in line. But now that Trump is having trouble whipping votes in Congress, WSJ is asking: When will corporate America jump ship?

 

SEC Halts Issuance Of Wall Street's Latest Mom-And-Pop Doomsday Machine: Quadruple-Levered ETF

Earlier this month we were somewhat surprised when the SEC blatantly ignored numerous complaints and approved a request to trade new quadruple-leveraged exchange-traded funds.  But, as it turns out, this latest digital slot machine may have skated through the regulatory process without catching the attention of SEC Commissioners because of a clever structuring tweak which resulted in it being presented to regulators as a commodity product rather than a traditional mutual fund or ETF product.

WSJ Urges Trump To Keep His Mouth Shut

"Millions of Americans recognized Mr. Trump’s flaws but decided he was a risk worth taking. They assumed, or at least hoped, that he’d rise to the occasion and the demands of the job. If he cannot, he’ll betray their hopes as his Presidency sinks before his eyes."