Europe

The Trump administration just fired the first shot in the US-European currency, and thus trade, wars when Trump's top trade advisor Peter Navarro accused Germany of using a “grossly undervalued” euro to "exploit the US and its EU partners", the FT reported noting the comments are "likely to trigger alarm in Europe’s largest economy." News of the statement sent the EURUSD surging and the dollar tumbling to fresh 2 month lows.

European bonds fell and stocks rose led by banks and retailers as surging inflation data prompted investors to switch into reflationary assets even as speculation about ECB tapering has returned. Asian stocks and US equity futures declined. The Yen and gold advanced after Trump’s firing of the U.S. acting attorney general added to concern over the unpredictability of decisions in the new administration.

Submitted by Giulio Meotti via The Gatestone Institute,

Submitted by Michael Shedlock via MishTalk.com,

The IMF has once again threatened to pull out of the Troika following a warning that Eurogroup Loan Measures Not Enough for Greek Debt.

Greek debt yields had already been rising and spiked on the news.

Let’s take a look at what’s happening, culminating with an explanation of seemingly preposterous positions from all involved.

Authored by Paul Craig Roberts,

The mindlessness is unbearable.

Amnesty International tells us that we must “fight the Muslim ban” because Trump’s bigotry is wrecking lives.

 

Anthony Dimaggio at CounterPunch says Trump should be impeached because his Islamophobia is a threat to the Constitution.

This is not to single out these two as the mindlessness is everywhere among those whose worldview is defined by Identity Politics.