President Trump has gone on the record saying that he is in favor of reintroducing the gold standard in order to make America great again. The gold standard is a system in which currency values are directly tied to gold, allowing nations that have different currencies to exchange gold with eachother.
European Union leaders have promised to take over the role of being the world’s Superpower after America collapses following Donald Trump’s presidency. According to Maltese prime minister Joseph Muscat, Trump’s isolationist policies will give Europe the “opportunity for leadership it has always craved” on the world’s stage. Express.co.uk reports: He claimed countries around the world will be “looking” to Brussels for leadership in the aftermath of Mr Trump’s shock victory, which has been followed by a slew of controversial policy announcements.
Iran has rejected a warning from US President Donald Trump’s administration over its latest ballistic missile test. A senior Iranian official has said that Iran will not bow to US threats in response to White House statements. In reaction to comments by American officials on Tehran’s latest missile tests, the foreign policy adviser to Iran’s Supreme Leader emphasized that the Islamic Republic does not wait for permission from any foreign state to defend itself. He said “the missiles, which were put to test were defensive,” adding that Iran will continue its missile work with full strength.
With political journalists, traders, analysts - and virtually everyone else according to Arnold Schwarzenegger - losing sleep over the unpredictability of Trump's next decree by Twitter, many of which move markets, or result in diplomatic scandals, sleep cycles across America, and the globe, have been decimated. To provide some clarity on what has emerged as the most erratic pattern driving capital politics, markets and socioeconomics, Citigroup has compiled a chart showing how often in any 24 hour period, Trump tweets.
Authored by Nouriel Roubini, originally posted at Project Syndicate,
When Donald Trump was elected President of the United States, stock markets rallied impressively. Investors were initially giddy about Trump’s promises of fiscal stimulus, deregulation of energy, health care, and financial services, and steep cuts in corporate, personal, estate, and capital-gains taxes. But will the reality of Trumponomics sustain a continued rise in equity prices?