"The Whole Shebang Is Broke" - The Only Thing That's Growing Is Debt
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
In the long run, as someone once said, we are all dead, but in the meantime, as BofAML's Michael Hartnett provides a stunning tour de force of the last 5000 years illustrates long-run trends in the return, volatility, valuation & ownership of financial assets, interest rates & bond yields, economic growth, inflation & debt...
The Huffington Post publishes today an op-ed from a leftist justifying violence against Trump supporters. One reason? Trump and what he stands for must be stopped by any means necessary. For another, violence sometimes makes good things happen:
Submitted by Michael Shedlock via MishTalk.com,
The UK is not the only country with increasing doubts about the EU.
A Pew Research Center study on Euroskepticism Beyond Brexit shows a huge dip in EU favorability across the board.
France has an even lower overall favorable rating of the EU than the UK. The favorable score is 38% in France, 44% in the UK.
Today is a historic day for the corporate bond market: with the launch of the ECB's CSPP, Mario Draghi is now directly buying European investment grade non-financial bonds. This means that no longer will European corporate bonds trade based on their fundamentals, but purely on expectations of frontrunning future ECB purchases.