Via The Daily Bell
Booth says many books about the Fed’s actions following the financial crisis have been written to make Fed officials look as good as possible because they are often written by the principals themselves.
A former Fed adviser in Dallas has criticized central bank economists for not understanding economics. Danielle DiMartino Booth was a financial journalist who warned about a real estate crash due to overly low interest rates.
In a setback for government efforts to abolish low tax rates for thousands of multinational firms while encouraging them to stay, the Swiss voted overwhelmingly against an overhaul the country's corporate tax system. Swiss broadcaster SRF said voters rejected the tax plans by about 60% to 40%. As Reuters notes, Switzerland has been in the European Union's firing line for years because Swiss cantons have a special tax status for foreign companies that means some pay virtually no tax other than an effective federal tax of 7.8%, an incentive to incorporate and stay on Swiss soil.
The latest weekly recap from One River Asset Management CIO Eric Peters tries to bring some sense to an increasingly absurd global economic, social and political situation, and fails, finding that the "more than absured is no longer absurd."
From Eric Peters' Weekly Notes
“More than absurd!” cried Jens Weidmann, outraged by Pete Navarro. Trump’s trade advisor had deliberately talked-down the dollar to boost US exports by accusing Germany of deliberately weakening the euro to boost European exports.
The latest retailer to join the "anti-Trump resistance", is also the one which despite being closest to death managed to crush short sellers on Friday after its stock soared on the announcement of yet another hail ymary restructuring: according to Reuters, Sears and Kmart are discontinuing online sales of 31 Trump Home items.
Ever since the gold report was published, the gold price moved up. This caught several investors by surprise, as some of them even continued to dump gold, scared by what appeared to be a good jobs report.
‘Appeared to be’, because?
Yes, 227,000 new jobs were created, and we can’t deny that’s a positive evolution. However, the increased job number is also the only positive thing in the jobs report, and there are two other issues that haven’t really been highlighted.