Authored by Mark St.Cyr,
On this holiday weekend known here in the U.S. as Memorial Day, I would like to make a slight turn in the narrative that many give little to no attention too, yet, is one of the most important underlying principles or fundamentals which helped shape, lift, mold, sustain, and create one of the world’s greatest economic powerhouses bar none.
That “turn” is in remembering: The liberty to create, and own, one’s own business.
The stabilization of oil prices in the $50-60/bbl range was meant to have one particular, material impact on Saudi finances: it was expected to stem the accelerating bleeding of Saudi Arabian reserves. However, according to the latest data from Saudi Arabia’s central bank, aka the Saudi Arabian Monetary Authority, that has not happened and net foreign assets inexplicably tumbled below $500 billion in April for the first time since 2011 even after accounting for the $9 billion raised from the Kingdom's first international sale of Islamic bonds.
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The Hundred Billion Dollar Man - Jeff Nielson
Written by Jeff Nielson (CLICK HERE FOR ORIGINAL)
Authored by Michael Snyder via The End of The American Dream blog,
Focus in this holiday-shortened week will turn to US data, especially NFP, Fed speakers and Eurozone inflation. UK PMIs will also draw attention as elections approach. We also get GDP data from Canada, Sweden and Switzerland. In EM, there are MP meetings in Brazil & Israel. On Monday, with US, UK and Chinese markets closed, Euro FX and bond markets will be on Mario Draghi alert on Monday as the ECB president speaks to the European parliament.
NFP, Fedspeak, Eurozone inflation