Spending rose (thanks to higher costs for energy) and everything else was dismal... and then Brexit moved into the lead - Inconceivable...
Following the flash crash in China overnight...
Submitted by Patrick Buchanan via Buchanan.org,
In his op-ed in The Washington Post, Chris Grayling, leader of the House of Commons, made the case for British withdrawal from the European Union — in terms Americans can understand.
Would you accept, Grayling asks, an American Union of North and South America, its parliament sitting in Panama, with power to impose laws on the United States, and a high court whose decisions overruled those of the U.S. Supreme Court?
The Russian Deputy Foreign Minister has said that the increase in NATO’s military presence near Russia’s borders will not go unanswered. “The Russian side has repeatedly stated that the buildup of the NATO military presence near Russian borders violates the spirit of the basic Russia-NATO pact and cannot be left unanswered by our country,” Aleksey Meshkovan told an international conference in Moscow. RT reports: The comments came soon after NATO Secretary General Jens Stoltenberg spoke at Warsaw University, where he said that the bloc planned to station even more military forces in Europe.
By now it is a well-known fact that corporations have no real way of generating organic profit growth in this economy (the recent plunge in Q1 EPS was a stark reminder of just that), so they are relying on two things to boost share prices: multiple expansion (courtesy of central banks) and debt-funded buybacks (also courtesy of central banks who keep the cost of debt record low), the latter of which requires the firm to generate excess incremental cash.
Submitted by Gail Tverberg via Our Finite World blog,
$50 per barrel oil is clearly less impossible to live with than $30 per barrel oil, because most businesses cannot make a profit with $30 per barrel oil. But is $50 per barrel oil helpful?
I would argue that it really is not.
When oil was over $100 per barrel, human beings in many countries were getting the benefit of most of that high oil price: