Europe

Submitted by Paul Brodsky via Macro-Allocation.com,

In Contrarianism in 2017 we cited the following macro dynamics that keep us cautious on equities, bullish on Treasuries and gold, and negative on credit:

Millions of Europeans across the continent are taking part in huge protests against billionaire elitist George Soros, in a clear message that Europe is rejecting his globalist agenda. The initiative called Stop Operation Soros (SOS) launched in the Balkan nation of Macedonia earlier in January, and has since swept across Europe as citizens reject the pro-globalist agenda implemented by the Open Society Foundation.

The War Against Ordinary Americans

Paul Craig Roberts

The Saker is a level-headed person. I take it seriously when he spells out the threat to Trump’s presidency presented by the paradoxical alliance of the ruling oligarchs with what purports to be the “liberal/progressive/left.” It is amazing that the “liberal/progressive/left” are aligned with war and not with peace and are aligned with the OnePercent against the working class, whom they despise as “Trump deplorables.”

Trump Is Being Sabotaged by the Pentagon

Paul Craig Roberts

President Trump says he wants the US to have better relations with Russia and to halt
military operations against Muslim countries. But he is being undermined by the Pentagon.

The commander of US forces in Europe, General Ben Hodges, has lined up tanks on Poland’s border with Russia and fired salvos that the general says are a message to Russia, not a training exercise. http://russia-insider.com/en/us-tanks-fire-salvos-poland-warning-against-russia/ri18767

During this morning's U.S. Steel earnings conference call,  CEO Mario Longhi said he was optimistic that tubular steel had bottomed and that  trade issues were improving thanks to tighter controls by US regulators to make sure Chinese companies weren't circumventing the law and dumping government subsidized steel on American shores.