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...
Will the boys and girls still in the casino after the current election gong show is over patiently wait for their next fix from a beltway governance process that is in sheer pandemonium and stalemate? We think the odds are between slim and none. As we indicated previously, if Trump is elected the fiscal process will lapse into confrontation and paralysis for an indefinite spell.And if Hillary is elected, the Republican House will become a killing field for almost anything she proposes, and most especially the rank Keynesian apostasy of outright and massive debt monetization...
Last week, Venezuelans lined up at their westerly border to visit Colombia for just a few hours and buy the essential everyday supplies once offered to them at low, subsidized prices by their prosperous socialist government. But, as oil prices slowly and steadily recover, will this model of brotherly cooperation prove to be sustainable in the long run?
The only thing standing between Portugal's insanely decoupled low bond yields and the ugly fundamental reality is a BBB rating from DBRS which enables The ECB to keep buying the nation's bonds. The problem is, pressure is mounting on DBRS (the only 1 of 4 raters to maintain Portugal as investment grade) to drop the hammer... and Portuguese risk is rising.
Oman will not participate in a meeting of oil producers and consumers in Algeria next month as it is disappointed by the group's failure to address the issue of low oil prices, Minister of Oil and Gas Mohammad bin Hamad al-Rumhy said on Wednesday. "We are moving into difficult times, and others still believe that everything will be fine. Those who expected the expensive oil producers will be run out of the business and shut down their operations, have been proved wrong."
The coming week brings multiple macro data releases for July, including inflation, trade data, retail sales, IP, credit and money supply. A relatively light US data calendar next week with retail sales the main release on Friday but also import and producer prices and Michigan sentiment coming up. Retail sales will be closely watched to assess consumer spending growth for 3Q.
Monetary policy, we are told, is all about staving off recession and stimulating economic growth.However, not only is monetary debasement in any form counterproductive and destroys the personal wealth of the masses, but the economists who devised today’s monetarism have completely lost their way. The real reason for today’s global monetary policies is an ultimately futile attempt to prevent a systemic and economic crisis.
The ECB, Fed and mostly the BOJ, all did nothing during the recent round of central bank announcements, but hopes are high that the RBA will not disappoint tonight. The Australian central bank is expected by both the market and economists to cut the Daily Cash Rate by 25bps from 1.75% to 1.50% when it announces its decision at 2.30pm AEST.
The Saudi circular ref (low oil prices -> budget deficits -> more oil pumping -> even lower oil prices) continues to iterate toward it's ultimate conclusion which (spoiler alert) will not be pleasant... and the banking system bailouts have only just begun.