"We will talk about Germany's actions in the international arena and we will put them to shame in the eyes of the world," Erdogan said and added "We don't want to see their fascist actions. We thought that era was in the past, but apparently it isn't."
The Great American Escalator is broken - and it badly needs to be fixed. With the election of 2016, Americans within the bubble finally learned that the 21st century has gotten off to a very bad start in America. Welcome to the reality. We have a lot of work to do together to turn this around.
We discuss European Monetary Policy in this video, and how Mario Draghi is well behind the inflation curve in Europe. Core Inflation in Europe and Germany has never been a reliable inflation reading metric in Europe.
In a bill aimed at encouraging asylum seekers to leave voluntarily, Austrian lawmakers are considering halting the provision of food and accommodation to migrants who are denied asylum and refuse to leave the country.
After some strength in Europe overnight, Deutsche Bank shares are tumbling this morning after reports that the world's most systemically dangerous bank plans to review strategic options over coming weeks that include a capital increase and the partial sale of its asset management business.
The Mexican Peso surged back below 20/$ this morning after new Commerce Secretary Wilbur Ross comments on the potential for peso recovery in a "sensible" NAFTA deal. Along with comments on Germany and Euro weakness, Ross also sent the USD index markedly lower (after 5 straight days higher).
World stocks pulled back from all time highs, and European bourses initially followed U.S. futures and Asian shares lower, however both European risk sentiment as well as E-Minis rebounded after an Odoxa poll showed Macron overtaking Le Pen in the 1st round for the first time, and that the addition of Juppe instead of Fillon may see a 2nd round run-off between Macron vs Juppe, leading to a slump in Bund futures to session lows, and a bounce in European stocks.
Eurozone headline inflation hit two percent this week, and that has the inflation hawks in Germany screaming. Yet, ECB president Mario Draghi has promised to maintain QE asset purchases, and Italy has no other real buyer for its bonds. What’s Draghi to do?
The relentless risk rally which took the Dow above 21,000 and the S&P over 2,400, has taken a breather overnight, with S&P futures modestly lower tracking European stocks, while Asian stocks advanced on US momentum; late Wednesday comments by a unexpectedly hawkish Lael Braniard has pushed the dollar higher, pressuring oil lower.
Nothing is ever as simple as the government claims it is... A federalized, computerized, cross-referenced, databased system of identification policed by government agents would be the final nail in the coffin for privacy.
In every annual budget debate since the 1980s, one side figures out that the way to get what it wants – which is higher spending – is to frame the request in a particular, ingenious way: We have to borrow and spend way more now if we want to borrow and spend way less later.