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Which Is Worse? America Or France?

July 20, 2017 - 1:00am
Which Is Worse? America Or France?

Authored by Bonner & Partners' Bill Bonner, annotated by Acting-Man's Pater Tenebrarum,
French Fraud
Which is worse? America or France?” The question must be put in context. We were invited to dinner with local farmers last night. Jean-Yves and Arlette live in a modest house in the nearby town – an efficient and cozy place built about 25 years ago. They’ve added a solarium to the back, where we had dinner.
 

"I Won't Let Myself Be F***ed": French Armed Forces Chief Resigns After Clashing With Macron

July 19, 2017 - 10:18pm
"I Won't Let Myself Be F***ed": French Armed Forces Chief Resigns After Clashing With Macron

France's armed forces chief resigned on Wednesday, culminating a dramatic dispute with president Emmanuel Macron over defense budget cuts, in what Reuters called "an early test of the newly elected president's mettle and the tough presidential style he is cultivating." Last week, General Pierre de Villiers publicly complained about Macron’s proposed €850 million cuts to the military's budget, telling a parliament committee he would not "let myself be fucked like that," adding that "I may be stupid, but I know when I am being had."

Global Bond Rout Sends S&P Futures, European Stocks Sliding

July 6, 2017 - 8:42pm
Global Bond Rout Sends S&P Futures, European Stocks Sliding

S&P futures are sliding this morning, down 0.4% and tracking the accelerating decline in European and Asian stocks, driven by a move higher in global interest rates, which started with Japanese 10Y yields rising to 0.1% for the first time since February, but mostly Bund yields which spiked after tripping stops, and jumped as high as 0.53% for the first time since early 2016. Oil climbs, dollar and gold slide. Economic data include initial jobless claims, trade balance, Markit PMI readings.

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