With diplomatic relations between the US and Iran - a state Donald Trump has repeatedly accused of being a "state sponsor of terrorism" - alrady near rock bottom, on Sunday they took another turn for the worse after a United States citizen accused of "infiltration" in Iran was sentenced to 10 years in prison.
Authored by Ruthie Blum via The Gatestone Institute,
Two weeks after Italy reacted with anger to Austria's deployment of troops and armored vehicles to the border between the two nations, while reactivating border controls at the Brenner Pass over concerns that Italy will be unable to handle the roughly 85,000 migrants and refugees who have entered the country so far in 2017, the Italian government has threatened to retaliate in way that assures an imminent migrant crisis as well as an escalation of tensions between the two EU nations.
Over the next three weeks, the investing world will shift its attention away from the endless chatter of central bankers and concerns about the state of the economy, and instead focus on second quarter earning season, which launched on Friday with results from the three biggest US banks which showed that chronically low volatility is anything but good for trading revenues (as Jamie Dimon made all too clear in a bizarre Friday rant). As previewed last week, and is the norm, we get most of the US numbers first, followed by Europe and then Japan.
Authored by EconomicPrism's MN Gordon, annotated by Acting-Man's Pater Tenebrarum,
Flowing Toward the Great Depression
All remaining doubts concerning the place the U.S. economy and its tangled web of international credits and debts is headed were clarified this week. On Monday, Mark Yusko, CIO of Morgan Creek Capital Management, told CNBC that: