"I am almost 50 years old, I have a University degree, and was – out of love for nature – always a trusted voter for the Green Party. I never felt much interest for politics. In Germany everything seemed to always go its natural regular course. I had trusted our parliamentary democracy, I thought our administration would hardly make mistakes, because it is controlled by the opposition. Never, absolutely never did I think that I would lose all my trust in the State. It’s unbearable that I am afraid of the future. Preferably I’d just like to leave. But I feel too old to leave Europe...I am – like most Europeans – damned to impotence as I see this invasion happen."
We previously introduced the Gotthard Base Tunnel, the longest and deepest tunnel in the world. The 35 mile long tunnel which cuts underneath the Alps helps remove natural barriers to trade and tourism, and is undoubtedly a testament to Swiss precision engineering. However, as Bloomberg reports, the tunnel that was 17 years in the making and had workers on three shifts working around the clock to build, was built primarily by foreigners... with only 14 percent of the workers from Switzerland.
Now that all of the main oil producers are unequivocally committed to maximizing production, regardless of the impact prices, oil will continue to trade just like any other commodity (for example, iron ore) that is in oversupply in a competitive market. Prices will be determined as described in any standard economics textbook: by the marginal costs of the last supplier whose production is needed to meet global demand. In the 20-year period of competitive pricing from 1985 to 2004, the oil price frequently doubled or halved in the course of a few months. So the near-doubling of oil prices since mid-January’s $28 low is not surprising. But now that the $50 ceiling is being tested, we can expect the next major move in the trading range to be downward.
"I don't buy gold, I own it. I don't buy gold at $1,100 because I think it's going to go to $1,200. I buy it for what it does, not what the price is, the price is the last consideration for me. It's not just an asset anymore it's the answer to a lot of people's questions.. the most important stage of this is next and that is the resolution between the paper price and the physical asset. I think when we get to that point where people want to own gold, ETF's won't suffice anymore."
In the latest tragic news from the world of finance, earlier today Zurich Insurance, the largest Swiss insurer which employs 55,000 people and provides general insurance and life insurance products in more than 170 countries, reported that Martin Senn, the company's former chief executive officer who stepped down in a December reshuffle, has committed suicide. He was 59.
The risk of a default chain reaction is looming over the $3.6 trillion market for wealth management products in China. WMPs, which traditionally funneled money from Chinese individuals into assets from corporate bonds to stocks and derivatives, are now increasingly investing in each other.
Fabricating non-GAAP "earnings" is not just in the best interest of shareholders, whose investments are kept afloat by borderline fraudulent adjustments, charges and addbacks. As it turns out, management teams are likewise incentivized to represent the most manipulated and egreiously embellished results as well. And worst of all: there is nothing the SEC will do about it.
Carson was on Fox’s Fox & Friends this morning to share some inspiration perspectives of what the US would look like under president Hillary Clintaon. "America, right now, is like a cruise ship that is about to go off of Niagara Falls with tremendous carnage and death."
In June there will be "an unusual number of known unknowns from several sources. June 2016 is a month in which the number of event risks is particularly high. In our baseline scenarios we do not see market upsets, but the potential is there: Japanese fiscal policy; meetings of the ECB, Fed and BoJ; new ECB policy implementation; a German Constitutional Court ruling; the UK referendum; elections in Spain; and a decision on the FTT are all thrown into the mix."
Amnesty International warned on Friday that a surge in executions carried out by Saudi authorities could see more than 100 people put to death in the first six months of 2016. The London-based watchdog says that the kingdom carried out at least 158 death sentences last year, making it the third most prolific executioner after Iran and Pakistan. This year, at least 94 people have been executed so far, “higher than at the same point last year,” Amnesty International said. Sources in the kingdom told Middle East Eye that prisoners arrested when they were children and others suffering from mental illness were among dozens of inmates executed in Saudi Arabia in January. One security source who witnessed the executions told MEE: “It was a massacre. There was blood and body parts everywhere.”
Recently, Hillary Clinton was taped ridiculing Donald Trump for lacking a detailed plan for the American economy. The message, so it goes, is that Trump is not suited for the presidency because he doesn’t have a plan on how to turn the American economy around. But is it really more dangerous to elect a president who makes up economic policy on the fly than one who proclaims to have a detailed plan for us? The answer to this is no... The underlying problem is we have two competing people who think they can manage the American economy.
We compare Germany and South Korea`s Business Development Strategy versus the United States - and how important top down leadership is in cultivating a strategic vision for a country`s growth prospects.
People “are just rolling the dice, thinking nothing could be as bad as 2008.” They think (or believe) if it happens again all they’ll have to do is the same as they did last time e.g. Hunker down, wait for the storm to blow over. Rinse, repeat. This is where the real issue lies for not only the Fed per se, but rather, the entire political as it is currently known. For if a “black swan” does indeed hit once again in the very near future? Once people realize just how systematically they’ve been cut off from those “assumed” resources, especially during a crisis? All hell is going to break loose in ways the academic class, as well as, the political never envisioned. For when the time comes (and there is no more important “time” than that during a crisis of confidence) where words truly matter, and everyone no longer believes? Everything changes. And I do mean: everything.
Having pledged to end the wars of his predecessor, President Obama came into office almost eight years ago as an anti-war candidate but instead has now been at war longer than any other American president. Mr. Obama, who won the Nobel Peace Prize in 2009, has made endless promises of "bring the troops home" or "no boots on the ground" but will have a longer tour of duty as a wartime president than Franklin D. Roosevelt, Lyndon B. Johnson, Richard M. Nixon or his hero Abraham Lincoln. As the anti-war candidate speaks today as president to remember the fallen heroes, just days after his visit to Japan, one wonders who will be delivering this address next year.
So we’re short term overbought, with 3 unfilled gaps below and lower highs still in place with stocks being the most expensive in years and yet the NYSE Composite Index is still below key resistance. Ignore it all if you find yourself attracted to new highs. They may indeed come, just remember who gets hurt when the attraction proves fatal...