Europe

From Nuisance to Threat: The High Cost of Truth

Paul Craig Roberts

When one gives so much scarce time and energy from one’s life to a large and unknown public, one needs to know that it is sufficiently appreciated to be a worthwhile use of one’s time and energy. This is especially the case when there are large costs associated with the commitment.

Your response to my quarterly request for donations showed me that enough of you value what I am doing to justify its continuation.

Gold Up 1.8%, Silver Up 2.6% After Dovish Fed Signals Slow Rate Rises

While some were worried about an "unexpected outcome" from yesterday's Dutch general election, in the end the country's center-right Prime Minister Mark Rutte managed to fight off the challenge of anti-Islam, anti-EU rival Geert Wilders to score an election victory that was hailed across Europe on Thursday by governments facing a rising wave of nationalism.

World stock indexes soared to record highs on Thursday while the dollar traded close to a one-month low after the Federal Reserve hiked U.S. interest rates but signaled no pick-up in the pace of tightening. European and Asian were broadly higher this morning, with S&P tagging along, driven by two main events: the latest "dovish" Fed rate hike, and the Dutch election results, in which Geert Wilders performed worse than some expected, reducing concerns of Eurozone political risk, and broadly seen as a sign of support for Europe's establishment.

From today's "Morning Porridge" by Bill Blain of Mint Partners

Mint – Blain’s Morning Porridge – March 16th 2017

What a fascinating world of possibilities opened up y’day, but let’s start with a simple game. Without thinking about it too much; name 5 famous European politicians of the last 30 years.

I bet none of them were Dutch.

Why? It’s a great country with a functional consensual political system biased towards compromise and coalition. Generally it works. The country works.