It is now Sept. 9 in North Korea, meaning the country’s celebration of the 69th anniversary of the creation of the North Korean state has officially begun. Last year, the country celebrated its 68th anniversary with its fifth nuclear test. This year, the US and South Korea are anticipating another demonstration of military strength from the isolated country – most likely another missile test.
Authored by Mike Shedlock via MishTalk.com,
In his latest Email article, Steen Jakobsen, Saxo Bank Chief economist and CIO has a bold prediction about interest rates.
With nearly everyone, even Janet Yellen at the Fed, predicting wage-induced inflation, Jakobsen makes a bold call in the opposite direction.
This is a guest post by Steen Jakobsen
Steen’s Chronicle: All Great Things are Simple, Except Right Now
Laughing on the Way to Armageddon
Paul Craig Roberts
The United States shows the world such a ridiculous face that the world laughs at us.
The latest spin on “Russia stole the election” is that Russia used Facebook to influence the election. The NPR women yesterday were breathless about it.
Last week, before the full devastation from Hurricane Harvey was unveiled, Goldman and JPM were the first banks to suggest that the storm's impact on US GDP would be modest: a slight decline in Q3 growth, offset by a similary modest rebound in Q4 and further as emergency funds "trickled down" through the economy.
European stocks dropped, Asian and EM market rose, and S&P were lower by 0.3% as investors assessed the latest overnight carnage in the USD which plunged to the lowest level since the start of 2015, sending the USDJPY tumbling to 107, the euro extending gains to just shy of $1.21 and a slowdown in China’s export growth which however did not prevent the Yuan from posting its best weekly gain on record.