Over the weekend we pointed out how the German media perceived the new US President with Der Speigel's highly controversial cover depicting President Trump beheading the Statue of Liberty, calling on Germany “to build an alliance” against the US leader. Not exactly subtle...
Germany’s weekly news magazine Der Spiegel has defended a highly controversial front cover on their latest issue, illustrating US President Donald Trump beheading the Statue of Liberty. The editor-in-chief of Der Spiegel, one of Europe’s largest weekly magazines, has also called on Germany “to build an alliance” against President Trump.
Submitted by William Anderson via The Mises Institute,
Nearly four decades ago, political pundits were shocked as voters turned away President Jimmy Carter and voted in Ronald Reagan, who promised to bring fundamental change to Washington and the indwelling political establishment. At the time, unemployment was rising quickly and inflation raged in double-digits, and Reagan had promised to deal with the economic failures by cutting income tax rates, slashing government spending, and reducing the regulatory burden.
OK - so, China tightens (worried about leverage), European sovereign risk spikes (Election uncertainty everywhere), Yen surges (BOJ tested again), gold spikes, Treasury yields tumble.. but US stocks are flat and VIX tumbles...
Submitted by Nick Cunningham via OilPrice.com,
Oil and refined products inventories in the U.S. continue to climb at a worrying pace, raising some red flags for an oil market that was supposed to be on the mend.
Crude oil inventories jumped by a whopping 6.5 million barrels last week, rising to 494.8 million barrels. Oil stocks have now increased every week of 2017, and are now not far off from the 80-year highs reached in 2016.
(Click to enlarge)