"Some are new to politics completely. They’re children of the Great Recession. And they are living in their parents’ basement. If you’re feeling like you’re consigned to, you know, being a barista... then the idea that maybe, just maybe, you could be part of a political revolution is pretty appealing."
Can fear of Trump motivate? Sure it can. But if Brexit taught us anything, it’s the limitations of a fear-based campaign, at least when the fear-mongers are the same smarter-than-thou elites who tsk-tsk their deep and abiding concern for the benighted masses from Davos or Jackson Hole. Status quo candidates don’t win on fear alone.
The silence of politicians and human rights organizations, when non-Muslim women are violently assaulted because they wear shorts that are not compatible with sharia -- as opposed to their thundering indignation against police for issuing a fine to a Muslim woman in a burkini -- signals an immensely important political and institutional move...
The Fed clings to status quo. Other central banks are vying to knock it down, or at least loosen its grip on them. But the Fed behaves as if it has no idea there are other powerful central banks that want to grab and harness its power. It carries on refusing to acknowledge that there may come a time, sooner rather than later, where its power is attacked. The ramifications of such an attack will impact the standing of the U.S. in the world. The Fed can carry on being oblivious, but Game of Thrones illustrates the struggles playing out right now.
After oil soared over 5% yesterday, its biggest jump since April, overnight skepticism and doubts have emerged about the viability and compliance with the deal, coupled with a boost in production by non-OPEC producers, and as a result WTI has dipped back under $47, down 0.5%, suggesting that the OPEC surge may be short-lived, and modestly pressuring US equity futures.
The richest man in China, Wang Jianlin, made his ~$30 billion fortune developing huge malls and office complexes across China and he now shares his thoughts on why Chinese real estate is the "biggest bubble in history."
[The establishment] needs no reminder of the historical record, but it bears noting that more than a dozen advanced economies received debt relief in one form or another during the depression of the 1930s. The approach to unwinding current debts is likely to vary considerably across countries, but it is time to place greater emphasis on debt restructuring (which comes with a menu of options) than on accumulating more debt.
According to the latest WTO forecast, global trade is set to grow at the slowest pace since the financial crisis: the WTO now expects world trade will again grow more slowly than expected in 2016, expanding by just 1.7%, well below the April forecast of 2.8%. This means that 2016 will be the first time in 15 years that the ratio between trade growth and world GDP has fallen below 1:1.