In a front page article, the WSJ takes aim at the "biggest market puzzle" of our times: the bizarre disconnect between growth and inflation, where on one hand government reports of strong, coordinated, global economic growth and tumbling unemployment (at least in the US and Japan) are offset by the complete lack of concurrent reflation. Some examples:
The head of Germany’s largest commercial bank warned of the fallout from cheap money, cautioning against using the strong euro as a justification for printing more.
Bloomberg reports that the Deutsche Bank Chief Executive Officer John Cryan called for an end to the era of cheap money in Europe, saying that the prolonged period of rock-bottom interest rates is starting to inflate asset bubbles and putting the bank at a disadvantage to U.S. rivals.
Concluding a months-long saga in which central and eastern European nations revolted against Brussels' refugee policies, on Wednesday the European Union’s highest court ruled that EU states must take in a share of refugees who reach Europe, dismissing complaints by Slovakia and Hungary and reigniting an angry row between east and west.
Authored by Guy Milliere via The Gatestone Institute,
Poland has escalated its demands for World War II reparations from Germany from "billions" a month ago, to "about $1 trillion" today as Poland’s foreign minister demanded "serious talks" were needed with Germany.