Europe

Authored by Jeff Thomas via InternationalMan.com,

Via The Daily Bell

The leviathan created by the modern welfare state is one of the gravest threats facing the American republican system. Dangers levied by the continued use of the government’s dole come both fiscally and socially. Fixes being floated from Congress to community organizations still lack a cohesive focus on reform in the mainstream public discourse.

Earlier, when discussing why the Syrian "rebels" fighting Assad are in "turmoil", we said that as a result of the ongoing Qatar crisis the various Saudi and Qatari supply chains supporting the rebels, both in terms of weapons and funding, had dried up due to the diplomatic fallout involving Qatar and Saudi Arabia. "Together with Turkey and the United States, Qatar and Saudi Arabia have been major sponsors of the insurgency, arming an array of groups that have been fighting to topple Syria's Iran-backed president."

So as the week begins...

• Global equities are higher, fueled by Emmanuel Macron’s big win in France’s National Assembly election.
• The euro is virtually flat versus most major currencies as the election results were well anticipated by the markets.

Can both explanations really be true? Yes, they sure can. Bloomberg's Richard Breslow explains...

In an otherwise relatively quiet week in which the only upcoming US data is housing, current account and jobless claims, UK politics will again draw attention, one year (on Friday) after the Brexit referendum and as noted earlier, Brexit negotiations begin on Monday, despite lingering political uncertainty in the UK. Also no less than 9 FOMC members are scheduled to speak this week.