Europe

Via Mint's Bill Blain's Morning Porridge,

”A common mistake when trying to design something completely fool-proof is to underestimate the ingenuity of complete fools..” 

Russia has criticised US plans to position troops, tanks and other armored vehicles full time along NATO’s eastern borders, and said that Moscow is preparing a “completely asymmetrical” response to the deployments. Alexandr Grushko, Russia’s Ambassador to NATO said on Thursday that Moscow would not act like a “passive observer” but would rather undertake all those military measures needed to counter the “totally unjustified increased military presence.” Press TV reports: “Of course, our response will be completely asymmetrical.

• Saudi Arabia Will Only Freeze Oil Production If Iran Joins (BBG)
• Japanese gloom ensures slow start to quarter for world stocks (Reuters)
• Saudi Arabia Plans $2 Trillion Megafund for Post-Oil Era (BBG)
• Prices Sag in Warning to ECB Even as Manufacturing Picks Up (BBG)
• China factories scent hint of spring, Europe still chilly (Reuters)
• Theranos Devices Often Failed Accuracy Requirements (WSJ)
• Macau Casino Sales Drop More Than Estimates After Festival (BBG)

For Japan, the post "Shanghai Summit" world is turning ugly, fast, because as a result of the sliding dollar, a key demand of China which has been delighted by the recent dovish words and actions of Janet Yellen, both Japan's and Europe's stock markets have been sacrificed at the whims of their suddenly soaring currencies. Which is why when Japanese stocks tumbled the most in 7 weeks, sinking 3.5%, to a one month low of 16,164 (after the Yen continued strengthening and the Tankan confidence index plunged to a 3 year low) it was anything but an April fool's joke to both local traders.

Submitted by Etai Friedman via Palisade-Research.com,

After the stock market crash of 1987, The Federal Reserve embarked on a path that led to the biggest debt bubble in the history of the world. The day after the 1987 crash (Oct. 20, 1987) Alan Greenspan, Chairman of the Fed, announced to the world that The Fed stood ready to provide whatever liquidity was needed by the banking system to prevent the crash from turning into a systemic financial crisis. That was the day the Fed “put” was born.