We either take down Facebook and Google and turn them into tightly regulated transparent public utilities available to all or they will destroy what little is left of American democracy. The RussiaGate Narrative has been revealed as a Big Con (a.k.a. Nothing-Burger), but what’s dangerously real is the censorship that’s being carried out by the for-profit monopolies Facebook and Google on behalf of the status quo’s Big...
Read More »Germany: signs of rebound ?
German growth may remain subdued in H1 2019, before picking up somewhat in H2 2019 as some near-term risks dissipate. Germany’s leading indicator, the Ifo index, rose in March, driven by an increase in both sub-components: current assessment and expectations. The Ifo index differs in make-up from Markit’s purchasing manager indexes, but at the sector level, the story is the same: the more domestically driven services...
Read More »1999: Chinese president snubs Swiss government
On March 25, 1999, Chinese President Jiang Zemin was confronted by pro-Tibetan protesters upon his arrival at the seat of parliament in Bern. Furious, he refused to participate in a guard of honour or to greet government members waiting to receive him. In his speech, he sharply criticised the Swiss authorities, accusing them of not being capable of maintaining order and told them they had lost a good friend. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss...
Read More »1999: Chinese president snubs Swiss government
On March 25, 1999, Chinese President Jiang Zemin was confronted by pro-Tibetan protesters upon his arrival at the seat of parliament in Bern. Furious, he refused to participate in a guard of honour or to greet government members waiting to receive him. In his speech, he sharply criticised the Swiss authorities, accusing them of not being capable of maintaining order and told them they had lost a good friend. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss...
Read More »FX Daily, March 26: Semblance of Stability Re-Emerging
Swiss Franc The Euro has risen by 0.06% at 1.1231 EUR/CHF and USD/CHF, March 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The sell-off in equities seemed to peak yesterday, and US indices were narrowly mixed. Traders found comfort in that performance, even though the S&P 500 finished a little below 2800, and took the markets in the Asia-Pacific region...
Read More »Swiss parliament calls for more online purchases to be taxed
© Panuwat Dangsungnoen | Dreamstime.com Since 1 January 2019, companies abroad making more than CHF 100,000 in revenue must charge Swiss VAT on sales made to anyone in Switzerland. Now the Swiss government has decided to take aim at online platforms such as Aliexpress and Wish, according to the broadcaster RTS. Rather than chasing foreign companies selling products in Switzerland, Beat Vonlanthen, an MP from Fribourg,...
Read More »Europe and China
The US-China trade talks look like they may very well continue through most of the second quarter, despite how much progress is being claimed. Meanwhile, the tariffs remain in effect, but the market’s sensitivity to developments has slackened since it was clear the Trump and Xi were not going to meet at the end of this month. Europe’s relationship with China will eclipse the US-China trade talks that resume with Mnuchin...
Read More »On Board Keynes Express to Ruin, Report 24 Mar
Last week, I ranted about the problem with our monetary system and trajectory: falling interest rates is Keynes’ evil genius plan to destroy civilization. This week, I continue the theme—if in a more measured tone—addressing the ideas predominant among the groups who are most likely to fight against Keynes’ destructionism. They are: the capitalists, the gold bugs, and the otherwise-free-marketers. I do not write this to...
Read More »The Media, Mueller, the Big Con and the Democratization of Narrative
Falling for a con is painful. The first reaction is to deny being conned, of course. The second is to blame skeptics for being correct in their skepticism. Here’s the fundamental “story” of the Mueller Investigation: elites don’t like “the little people” democratizing public narratives. The elites–who reckon their right to rule is self-evident–want to set the narrative and the context, because that’s the foundation of...
Read More »FX Daily, March 25: Monday Blues: Equities Pare Quarterly Gains
Swiss Franc The Euro has fallen by 0.12% at 1.1231 EUR/CHF and USD/CHF, March 25(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Global equities have soured after the US shares dropped the most since very early in the year before the weekend. Asia’s sell-off was led by the 3% decline in Nikkei, while Malaysia fared among the best, surrendering 1%. Europe’s Dow...
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