Washington’s Empire Is Not Unraveling
Paul Craig Roberts
The military/security complex spent seven decades building its empire. The complex assassinated one American president (JFK) who threatened the empire and drove another (Richard Nixon) out of office. The complex does not tolerate the election of politicians in Europe who might not follow Washington’s line on foreign and economic policy.
S&P futures point to a slightly lower open ahead of today's US non-mfg ISM and Service PMI data. European shares fall, while Asian shares are little changed. Several European countries, including Germany, are closed for Whit Monday leading to subdued trading. Crude futures have reversed overnight gains following the latest unexpected Gulf Crisis overnight, in which Gulf nations cut all diplomatic relations with Qatar amid striking allegations of funding terrorism, as reported overnight.
Bitcoin’s 150% surge since the beginning of the year has caught the attention of “Mrs. Watanabe,” the metaphorical Japanese housewife investor, and a legion of South Korean retirees who’re hoping to escape rock-bottom interest rates by investing in cryptocurrencies, according to Reuters.
by JS Kim, Founder of SmartKnowledgeU and skwealthacademy, this article was first posted at smartknowledgeu.com/blog on 1 June 2017.
Adam Crisafulli recaps what matters this morning as we head into today's payrolls report, noting that "the inability of TSY yields to rise (along w/the dramatic multi-month curve flattening process) remains a cloud hanging over the equity rally but stocks obviously don’t seem to mind (for now)." Whether this changes will depend largely on one thing: today's wage number - if it comes in above the expected, we may finally get some curve steepening, if not the divergence will continue...
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