The overnight session has been one of alternative weakness and strength: it started in China where stocks tumbled 2.8% to a two month low following an unexpected warning in the official People's Daily mouthpiece that debt and NPLs are too high, not to expect more easing will come, and that the Chinese Economy’s performance won’t be U- or V-shaped but L-shaped.
China's leadership is trying to manage a tenuous balancing act between letting the private sector grow the economy, and making sure that its focus remains true to the party message.
Overnight China reported April exports and imports, both of which dropped after a strong pick up in March, and missed consensus expectations, confirming "weak demand at home and abroad and cooling hopes of a recovery in the world's second-largest economy."
Authored by Paul Craig Roberts,
Somnolent Europe, Russia, and China - Can the world wake up?
On September 19, 2000, going on 16 years ago, Ambrose Evans-Pritchard of the London Telegraph reported:
“Declassified American government documents show that the US intelligence community ran a campaign in the Fifties and Sixties to build momentum for a united Europe. It funded and directed the European federalist movement.
Submitted by David Stockman via Contra Corner blog,
Donald Trump’s patented phrase “we aren’t winning anymore” lies beneath the tidal wave of anti-establishment sentiment propelling his campaign and, to some considerable degree, that of Bernie Sanders, too.