Being rich is great. But being rich in America? That’s even better.
With US stock benchmarks trading just below record highs, and Treasury yields not too far from the all-time lows reached last summer, the gulf between the world’s wealthy elite – those 18 million households worldwide with more than $1 million in assets – and everybody else is rapidly widening.
Authored by David Stockman via The Ron Paul Institute for Peace & Prosperity,
The horrific shooting spree on the practice field of the GOP's congressional baseball team was hardly the end of this week's madness on the Potomac.
After the Senate overwhelmingly passed a bill to implement new sanctions against Russia over "interference in the 2016 U.S. elections" and curbs President Trump’s power to ease penalties against Moscow in the future - without consultations with US allies in Europe - President Trump has found himself cornered in what appears to be a lose-lose position.
The US is definitely going to be sending more ground troops to Afghanistan soon, but, as AntiWar.com's Jason Ditz notes, the exact number is yet to be determined, with the Pentagon today backing away from media reports yesterday that they’d settled on a figure of 4,000 more troops, saying no final decisions have been made yet on numbers.
First it was Citi's Hans Lorenzen warning about the threat to growth and global risk assets as a result of the upcoming slowdown in global central bank balance sheet growth. Then, yesterday, it was Matt King's turn to caution that "the Fed’s hawkishness this week adds to the likelihood that in markets a significant un-balancing (or perhaps that should be re-balancing?) is coming."