Turkish President Recep Tayyip Erdogan has said that Turkey and Israel must stick together in the Middle East, in a statement to journalists on his trip back from visiting Saudi Arabia. Speaking to a group of journalists, the Turkish leader said, “Israel is in need of a country like Turkey in the region. We have to admit that we also need Israel“.
Excerpted from JPMorgan CIO Michael Cembalest 2016 Outlook,
Something is wrong with this picture. In the US and Japan, corporate profits sank during the global financial crisis. In the US, the profit recovery was accompanied by a recovery in household income. In Japan, however, corporate profits and household income moved in opposite directions, as dynamics that helped profits recover did not help consumers.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
As a new parent, the idea of sending my children to public school is a frightening thought. The more you read, the more you realize the importance of extreme vigilance when it comes to what’s happening at whatever place you send your kids to for majority of their day. Quite often, parents are simply left completely in the dark about some very important matters.
A week before Mario Draghi disappointed a thoroughly spoiled market by “only” cutting the depo rate by 10 bps, “merely” extending QE by six months, and failing to boost the monthly rate of asset purchases under PSPP, we explained why the ECB is effectively chasing its own tail.
Excerpted from Doug Noland's Credit Bubble Bulletin,
The year 2015 was extraordinary. Incredibly, despite powerful confirmation of the bursting global Bubble thesis, market optimism remained deeply entrenched. All leading strategists surveyed in December by Barron’s remained bullish – some were borderline crazy optimistic.