As members of Congress in Washington debate raising the minimum required to obtain a U.S. immigrant investor visa from $500,000 to $1.35 million, Bloomberg reports concern about the hike has set off a scramble among wealthy would-be participants in China.
After failing to achieve Republican agreement over healthcare reform, The Washington Post reports that while President Trump and House Speaker Paul D. Ryan both want to rewrite the tax code, they are deeply divided over how much tax relief to give the middle class.
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When it comes to the price of oil, both the sellside and oil producers have been adamant that the only variable that matters is supply, i.e., how much oil is produced at any given moment which was also the justification behind the Vienna production cut deal: reduce supply enough, and the record global inventory glut will decline by bringing markets into equilibrium, boosting prices in the process. Alternatively, another explanation has been the recent liquidation of oil positions by speculators (read hedge funds), who tend to amplify moves in the world's most financialized commodity.
Elon Musk, Silicon Valley's automotive visionary, loves to wow the world with grandiose visions that serve primarily to reinforce his position at the top of the list of tech titans. That said, at some point we suspect his shareholders will actually expect him to perform against his 'visions' rather than simply talk about them.
Very much like the self-imposed output cut by OPEC and non-OPEC members which successfully boosted the price of crude over $50 even if global crude inventories "inexplicably" continue to hit new all time highs, one of the main reasons why commodity metal prices have seen a dramatic increase in prices over the past year has been China's solemn vow to cut back on overcapacity and excess production.