Nationalization

Buchanan: Is Secession A Solution To Cultural War?

A new federalisma devolution of power and resources away from Washington and back to states, cities, towns and citizens, to let them resolve their problems their own way and according to their own principlesmay be the price of retention of the American Union.

A History Of The US Stock Market From 1899 To 2017 In Three Charts

Here are three charts highlighting the dramatic transformation of the US stock market starting in 1899 and continuing through today, showcasing its relative domination of all global equity markets, the relative sizes of world markets, and how dramatically the equity composition has changed over the past 117 years.

Trump Left Saudi Arabia Off His Immigration Ban... Here's Why

It’s hard to overstate how much the petrodollar system benefits the US dollar. It’s allowed the US government and many Americans to live beyond their means for decades. And it’s the reason the media and political elite give the Saudis special treatment...

ECB Assets Rise Above 36% Of Eurozone GDP; Draghi Now Owns 10.2% Of European Corporate Bonds

As global markets recoil over concerns the Trumpflation trade may be rolling over, the ECB continues to be busy providing the actual levitating power behind near record highs in stocks, and as of the latest update, the ECB's balance sheet rose above €3.72 trillion, equal to over 36% of the entire Eurozone GDP. It also means that Mario Draghi now owns over 10% of the entire European corporate bond market.

The Truth About Venezuela's "Economic War"

President Maduro is correct. Venezuela’s economic woes are indeed the result of economic war and mafia attacks. But Venezuela’s political elites are the mafia, and they alone have waged a decades-long economic war on Venezuela’s people.

Lagarde Urges Wealth Redistribution To Fight Populism

"I want to be loud and clear: populism scares me... policy makers need to 'man-up' and pay for the social cohesion that we need to keep our societies advancing... it probably means more redistribution than we have in place at the moment and accept that this may be a higher tax burden on people..."

Italy's Insolvent Monte Paschi To Issue €15 Billion In Debt

Italy's Banca Monte dei Paschi di Siena (BMPS.MI), which is being bailed out by the state, plans to issue 15 billion euros ($15.8 billion) of debt next year to restore liquidity and boost investor confidence, several newspapers said on Friday.

Futures Unchanged In Thin Pre-Holiday Tape; Italian Bank Bailout Lifts European Shares

European stocks halted two days of declines, with the Stoxx 600 fractionally in the green and Italy’s bonds climbing after Monte Paschi requested a bailout and Italy pledged to provide support for its other ailing lenders. S&P futures were little changed among extremely thin volumes while Chinese stocks dropped amid concerns on higher borrowing costs.

It's Official: Italy Will Nationalize Monte Paschi

So far, so expected. After earlier announcing the failure to attract any anchor investors for a private capital raise, Monte Paschi has announced that it will officially ask the Italian government for a "precuationary capital increase" - in other words a bailout. The funds will come from the newly decreed EUR20 billion bailout fund, and as Bloomberg reports will not trigger a "bail-in."

Global Stocks Decline As Trading Volumes Collapse Ahead Of Monte Paschi Nationalization

European, Asian stocks and S&P futures all declined amid collapsing volumes, after the Wednesday drop in the S&P500, and after oil prices held losses amid an unexpected increase in supplies, as traders close out trades ahead of the holidays. European stocks edged lower, led by miners, and U.S. stock futures stagnated after the Dow Jones Industrial Average failed to make progress toward 20,000 Wednesday.