United Kingdom

There is an odd feeling of Deja QEu this morning, when with two hours to go until the February payrolls, global stocks are modestly higher, US equity futures are likewise slightly higher on the back of a weaker dollar (or perhaps stronger Euro following a Market News report according to which the ECB may disappoint, more on that shortly), but it is gold that is breaking out, and after entering a bull market yesterday when it rallied 20% from its December lows...

French president, François Hollande says that ‘Brexit’ would have ‘consequences’ for Britain and could lead to France scrapping the Calais border deal. A senior French minister also has warned the UK that leaving the EU could end their agreement over border controls in Calais. The French economy minister, Emmanuel Macron said Britain’s departure from the 28-nation bloc would threaten bilateral ties between London and Paris.

While Asian stocks continued their longest rally since August overnight, led higher for the third consecutive day on the back of Japan (+1.3%), Australia (+1.2%) and China (+0.4%) strength, European stocks have as of this moment halted their longest rally since October (Stoxx -0.1%) and U.S. index futures are little changed.

If the literary establishment ever decides to invent a prize for a 20th-century author with the greatest output of work, a portly English gentleman by the name of Edgar Wallace would be a serious contender. In terms of sheer quantity, Wallace’s output was simply astounding: he wrote over 170 books that were translated into 30 languages; more films were made out of his books than any other writer in the 20th century; and, during his most successful publishing year in the 1920s, one out of every four books sold in England had his name in the title.

Authored by Cathal Haughian via TheSaker.ie,

It has been our undertaking, since 2010, to chronicle our understanding of capitalism via our book The Philosophy of Capitalism. We were curious as to the underlying nature of the system which endows us, the owners of capital, with so many favours. The Saker has asked me to explain our somewhat crude statement ‘Capitalism Requires World War’.