North Korea

How Vulnerable Is The Electrical Grid?

"What Hurricane Maria has done to Puerto Rico reminds us of how vulnerable systems critical to the daily operation of industrial society remain...Electricity is the essential pillar upon which the operations of all modern industrial societies depend... The United States is unprepared...."

Nouriel Roubini's "Good, Bad, & Ugly" Scenarios For The Global Economy

The IMF, which in recent years had characterized global growth as the “new mediocre,” recently upgraded its World Economic Outlook, but are they right to think that the recent growth spurt will continue over the next few years, or is a temporary cyclical upswing about to be subdued by new tail risks?

Frontrunning: October 10

  • Thousands Flee as Deadly Fires Ravage California Wine Country (WSJ)
  • Trump Allies Fear Corker Feud Threatens Tax Plan (BBG)
  • Catalans Face Day of Reckoning (BBG)
  • Puerto Rico’s $74 Billion Burden Left It Helpless When Maria Hit (BBG)
  • Brain Drain Index: The Smartest Americans Are Heading West (BBG)

European Stocks On Edge Ahead Of Catalan Independence Call, S&P Futures Rise

S&P futures are again modestly in the green as European shares hold steady ahead of a meeting of the Catalan regional parliament and a possible declaration of independence by Catalan leader Puigdemont, while Asian shares rise a the second day. The dollar declined for the 3rd day, its losses accelerating across the board amid growing concerns that Trump's tax reform is once again dead.

Britain Draws Up Plans For War With North Korea

"We have plenty of ships to send... the Type-45 destroyers, the Type-23 frigates. Britain’s new aircraft carrier could be pressed into service early if things turn south..."

Are Russia And China Right On North Korea?

"To be clear North Korea is also completely in the wrong and it is the prime actor that must stop its nuclear tests and enter into talks. Yet it is very difficult for the North to enter into the 6 Party Talks when the United States will not countenance such talks."

US Boosts Defense Spending - To What End?

"...there are few indications the US elites have accommodated themselves to the new, post-hegemonic, international balance of power, and the boost in military spending is a reflection of their efforts to recapture past glories. But it is unlikely they can reverse the process of US hegemonic decline. Indeed, this effort actually represents a still-heavier burden on the already weak US economy."

Donald Trump: Warmonger-In-Chief?

"Hopefully, cooler heads in the Administration will prevail, however, a more peaceful world is unlikely with the likes of Donald J. Trump at the command of the greatest destructive force in human history."