US Assaults British Sovereignty
Paul Craig Roberts
The Washington elite believe that the British people should serve Washington’s interest and not their own. To this end, President Obama has been sent to London to emphasize that the UK must remain in the EU.
Does this make you wonder why it is important to Washington for the British people to surrender their national sovereignty to the European Union? If not, it should.
Back in December 2014, just before the ECB officially launched its initial phase of QE in which it would monetize government bonds, Mario Draghi was asked a very direct question: what types of assets could the ECB buy as part of its quantitative easing program. He responded, "we discussed all assets but gold."
Submitted by Pater Tenebrarum via Acting-Man.com,
Dismal Earnings, Extreme Valuations
The current earnings season hasn’t been very good so far. Companies continue to “beat expectations” of course, but this is just a silly game. The stock market’s valuation is already between the highest and third highest in history depending on how it is measured.
Last week's decision by Angela Merkel to allow a Turkish criminal complaint against a German comedian is now causing serious problems within her coalition. As a reminder, German comedian Jan Bohmermann faces up to five years in prison for performing a satirical poem directed at President Erdogan.
In January and in early February UBS' technical analysts said that while they do not believe in a 2008 event, 2016 should be a highly volatile and a trading oriented year for equities... and so far it has. But now Michael Riesner and Marc Muller see a high likelihood to move into our suggested early Q2 cycle top this week.
With last week’s higher low at 2033, we have a new pivotal support in place in the SPX, which makes 2033 to a tactical key support.