Submitted by John Mauldin of Mauldin Economics
Today we’ll continue to size up the bull market in governmental promises. As we do so, keep an old trader’s slogan in mind: “That which cannot go on forever, won’t.” Or we could say it differently: An unsustainable trend must eventually stop.
Live Feed:
http://www.rt.com/on-air/405139-demo-against-catalan-referendum/embed
The Spanish ambassador to UK, Carlos Bastarreche, has warned Catalan government’s move will have ‘serious implications’ for European stability...
Europe is watching “a slow-motion, low-cost coup d’etat” by the Catalan government.
“If the Catalan government succeed it will be a drama for Europe, starting with the UK, because it will mean that a region can disobey the rule of law.”
Even as Europe's political establishment professes its liberal ideals by accepting - or in the case of the ongoing spat between Brussels and Central Europe, forcing others to accept - as many refugees as humanitarian virtue signalling will require, the true face of Europe is gradually emerging behind the scenes, and according to The Local.de, starting today armed soldiers from the Danish Armed Forces (Forsvaret) will replace police officers at both Denmark’s southern border to Germany and at potential terror targets in Copenhagen.
As part of the growing private jet (ab)use scandal that has recently rocked the Trump administration, on Friday afternoon the White House announced that Secretary of Health and Human Services Tom Price offered his resignation and President Trump has accepted, according to the Press Sec. office.
Full White House statment below:
Statement from the Press Secretary
Via Global Macro Monitor,
What’s The Matter Kansas inflation?
The divergence of official inflation as measured by the government versus inflation realized by the consumer and businesses has never been greater, in our opinion. Go ask anybody on the street in America and Europe if think “doing life or business” is getting more expensive.
We have some thoughts on what is the matter with the inflation data: