The U.S. Is Not A Democracy, It Never Was
Authored by Gabriel Rockhill via Counterpunch.org,
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Europe
The Death Of Europe's Coal Industry
Authored by Nick Cunningham via OilPrice.com,
More than half of Europe’s coal plants are already bleeding cash, but by 2030, the percentage of coal plants in Europe that report negative cash flow could explode to an estimated 97 percent.
Those findings come from a new report by the Carbon Tracker Initiative, which paints a dire picture for the economics of coal after surveying 600 power plants in Europe.
Bank Of America: "This Is The First Sign That A Bubble Has Arrived"
Lately, fund flow data has all the credibility of a NYT presidential poll two days before the Trump defeats Hillary. On one hand, you have Lipper reporting that investors pulled $16.2bn from U.S.-based equity funds in the past week, the largest withdrawals since December 2016. The same Lipper also reported that taxable-bond mutual funds and ETFs recorded $1.2bn in outflows, with U.S.-based high-yield junk bond funds posting outflows of $922 million.
Global Dollar Liquidity Shortage Explodes - Worse Than European Crisis
Very quietly, in the last few days, cross currency basis swaps (CCBS) related to the dollar have reversed their rise and started collapsing deeper into negative territory… again. This might not be of much interest to buyers of global equity markets at this point, but it is signalling ominous signs of growing funding stress in the financial “plumbing”.
Who Ya Gonna Fight? Landmark Treaty Signed To Create EU Army
EU leaders formerly endorsed the harmless sounding Permanent Structured Cooperation, or PESCO, pact on Thursday evening in Brussels. After the shock of Brexit, the goal of defence integration was revived by former military foes, Germany and France, supported by Italy and Spain, in a show of EU unity. A similar proposal was blocked by the French parliament in the 1950s (see below).