Washington Has Reestablished Financial and Political Control Over Brazil
Washington’s opportunity came when the corrupt Brazilian elite illegally removed the elected president from office in order to stop government investigations of their illegal activities. Washington approved the coup with the provision that Washington’s Wall Street allies would control Brazil’s financial offices.
In Morgan Stanley's Sunday Start note explaining "what's next in global macro", the firm's go-head of economics, Chetan Ahya notes that he remains confused by a "unique cycle" in which "our current conversations would have been centred on whether the global economy is overheating.
By the SRSrocco Report,
A SERIOUS CRACK appeared in the markets today. This was due to the lousy payroll report of only 38,000 new jobs for May. The market expected 160,000 new jobs, but it turned out to be more than four times less. This is the worst jobs report since 2010.
Back in 2013, when David Rosenberg infamously flip-flopped from bear to bull on the "thesis" that everyone's wages (not just his), are about to rise, and that a jump in wage inflation would be the catalyst to unleash a broad economic recovery in the process crushing bonds, we were decidedly skeptical.
Good news for the gold investors on Friday as the Department of Labor Statistics released the long-awaited jobs report. We won’t bore you with re-hashing everything in there, but the main point you should remember is pretty obvious, the US economy was able to create just 38,000 jobs which is definitely much less than the 160,000 jobs the analysts were expecting.