Authored by Andrew Korybko via Oriental Review,
Catalonia’s drive for “independence” has unleashed a chain reaction of viral social media support that’s frighteningly resurrected civil war-era rhetoric, but the most dangerous consequences of this domino effect are yet to come if the separatists are ultimately successful in their quest.
The Nostalgia Narrative
Authored by Alberto Gallo via Bloomberg.com,
A number of markets show not only elevated valuations, but also irrational investor behavior...
Investors face a conundrum: The world is experiencing a record synchronous growth phase, but an increasing number of assets are becoming overvalued just as fundamental risks lurk in the background. Should investors continue to dance to the tune of central bank stimulus and low volatility, or prepare to exit?
Via The Daily Bell
It’s all illegal! That’s Madrid’s position on the referendum in Catalonia. Of about 5.5 million eligible voters, about 2.4 million chose–or were able–to cast ballots. 90% of them voted in favor of independence from Spain.
Spanish courts have ruled, and leaders have repeated, that the country’s Constitution does not allow a region to separate. European Union courts have echoed this position.
Authored by Robert Rapier via OilPrice.com,
OPEC recently released its Monthly Oil Market Report which covers the global oil supply and demand picture through July.
OPEC crude oil production decreased by 79,000 BPD in August to average 32.8 million BPD. This marks the first OPEC production decline since April and was primarily driven by sizable outages in Libya.
Over the past two months, China, North Korea’s economic benefactor and formally the source of 90% of its foreign trade, has been withdrawing financial support, ostensibly under the auspices of US sanctions, as Communist Party leaders try to rein in the North’s nuclear program to appease the US and prevent a potentially destabilizing conflict on its border – a development that would be particularly unwelcome during the Communist Party’s upcoming national congress.