Larry Summers

Why Davos CEOs Think They Have Control Over Trump

While President Trump chose not to attend the elite extravaganza in Davos last week, choosing instead to lambast the great-est and good-est of the world's executives in their crony capitalist safe space, the cognitively dissonant CEOs reassured each other by saying 'ignore the tweets', confident that "if [Trump] knows the facts, he’ll respond according to the facts." It depends whose 'facts' those are, of course.

Frontrunning: January 18

  • Business euphoria over Trump gives way to caution, confusion (Reuters)
  • Biden Lashes Out at Trump Over Comments on NATO (WSJ)
  • Number of House Democrats Skipping Inauguration Grows (WSJ)
  • Rising U.S. shale-oil output threatens OPEC’s production pact (MW)
  • China urges U.S. to bar Taiwan delegation from Trump inauguration (Reuters)
  • IEA Sees Significant Gains in U.S. Shale Oil as Prices Rise (BBG)

After Getting Almost Nothing Right In 2016, Here Are Byron Wien's "Ten Surprises" For 2017

After incorrectly predicting virtually every "surprise" for 2016 one year ago, the bulls better beware because in Byron Wien's list of "ten surprises" for 2017, the 83-year-old Blackstoner has turned decidedly bullish this time, and expects the S&P to surge to 2,500 while the US economy grows at a brisk 3%. With that, he may have just doomed any hope for a non-recession in 2017.

Kunstler: 2017 Is When The Wheels Finally Come Off

The American people have been punked by their own government and their central bank, the Federal Reserve, for years and the jig is now up. In 2017 both will lose their authority and legitimacy, a very grave matter for the survival of this republic.

Global Recession And Other Visions For 2017

"...the Fed’s efforts to ‘normalize’ interest rates will be tabled.  The economy simply can’t afford higher rates.  This isn’t Trump’s fault, of course.  He’s been handed a badly damaged economy. Quite frankly, there’s really no way to fix it.  Decades of economic degradation are irreversible." 

Exit, Hope & Change - The Obama Post-Mortem

By now, anyone in this country still of sound mind knows that Barack Obama presided through eight years of remarkable continuity - of changeless conditions that left a great many hopeless. As the days of his tenure dwindle, what do we make of the departing 44th president?