For the first time in four years, the credit market sees more risk of a South Korean sovereign default/devaluation than China.
After months of hit money flows in EM stocks sending KOSPI to record highs in the face of rising nuclear tensions with its neighbor, this week saw investors crack as Daiwa analysts warned "Kim looks to have chosen a path of no return."
It's that time of the year again: with both the Mega Millions and the Powerball lotteries accumulating jackpots greater than $350 million, countless Americans - mostly those in lower income groups - are splurging on lottery tickets, hoping to get rich quick.
Authored by Ryan McMaken via The Mises Institute,
Any time we hear the term "privatize" coming from the usual suspects in Washington, DC we should immediately be suspicious. When this word is used, there's usually precious little actual privatization going on.
Thus, we should regard the Trump administration's proposed plan to "privatize" the war in Afghanistan with extreme amounts of skepticism.
USAToday reports:
We all know that the majority of people don’t know FX (Foreign Exchange) so this topic should come as no surprise. (For those who haven't already, checkout Splitting Pennies for a quick guide on this topic) However, it’s important for traders and investors to understand how the US banks are ripping off their clients, and the only reason they do it is because clients allow them, because they don’t understand how they’re being scammed. What we are talking about is the retail deliverable foreign exchange market.
As if there weren't enough geopolitical stress points in the world to fill a lifetime of "sleepy, vacationy" Augusts, late on Friday night President Trump spoke to Chinese President Xi Jinping and told him that he's preparing to order an investigation into Chinese trade practices next week, according to NBC. Politico confirms that Trump is ready to launch a new trade crackdown on China next week, citing an administration official, a step that Trump delayed two weeks ago under the guidance of his new Chief of Staff Gen. Kelly, but now appears imminent.