Europe

As part of its periodic Global Economic Outlook, SocGen traditionally includes a discussion of what it views are the biggest "black swans" both to the upside and the downside, and the latest just released edition titled "On a Plateau", which took a rather grim outlook to the world economy predicting that a US recession will likely hit in the not too distant future while "China, South Korea, Australia, US, Germany, UK and Japan are in the more mature phase of the cycle", and that current global growth is "essentially as good as it gets"...

... was no different. 

Authored by Patrick Buchanan via Buchanan.org,

By the time Air Force One started down the runaway at Naval Air Station Sigonella in Sicily, to bring President Trump home, the Atlantic had grown markedly wider than it was when he flew to Riyadh.

In a Munich beer hall Sunday, Angela Merkel confirmed it.

Europe must begin to look out for itself, she said, “take our fate into our own hands. … The times in which we could rely fully on others, they are somewhat over.”

It has been another quiet session for global equity markets, with S&P futures flat, as are European and Asian stocks, which is perhaps odd, as there was quite a bit of newsflow and, in the case of China, outright fireworks.

Authored by Giulio Meotti via The Gatestone Institute,

Authored by James Rickard svia The Daily Reckoning blog,

China is in the greatest financial bubble in history. Yet, calling China a bubble does not do justice to the situation. This story has been touched on periodically over the last year.

China has multiple bubbles, and they’re all getting ready to burst. If you make the right moves now, you could be well positioned even as Chinese credit and currency crash and burn.