Yesterday US President Trump formally launched his campaign for tax reform. The Big Six (Mnuchin and Cohn for the administration, McConnell, and Hatch from the Senate and Ryan and Brady from the House) had been...
“There is zero chance, no chance we won’t raise the debt ceiling,” swore Senate Majority Leader Mitch McConnell (R., Ky.) at an event in Louisville, Kentucky, on Monday. He who couldn’t get his Republican ducks...
The US dollar has a slightly lower bias today, but the against most of the major currencies, it is consolidating within the range set at the end of last week. The main exceptions are sterling...
News of the defection of two more Republican Senators doomed the Senate attempt to replace and repeal America’s national health care. The failure to replace the system dubbed Obamacare, despite the Republican majority in both...
Commercial Chapter 11 bankruptcies – an effort to restructure the business, rather than liquidating it – jumped 16% year-over-year in June to 581 filings across the US. Total commercial bankruptcies of all types, by large...
Bank of England Governor Carney said shortly after the 5-3 vote at the MPC that now was not the time to increase interest rates. Today sterling is flying. It is posting the largest gain in...
Subprime Auto-Loan Backed Securities from 2015 on track to be Worst Ever. Institutional investors that manage other people’s money grabbed subprime auto-loan backed securities because of their slightly higher yields. These bonds are backed by...
Has India’s economic development led to convergence or divergence? One answer can be obtained from inequality. The Gini coefficient of per capita expenditure was 0.35 in 1951 and 0.34 in 2010 – hardly any change...
The heavy hand of past borrowings continues to hang over us. China’s explosion of debt is worrisome. The bad loans being carried by European banks may be a factor restraining the willingness to lend. The...
Over the past 10 weeks – so since March 1, 2017 – five stocks in the S&P 500 index have gained a total of $260 billion in market value, the infamous FAANG stocks: Facebook, Apple,...
There was once a young king, even younger than Emmanuel Macron, who conquered power thanks to a sagacious adviser. The young king was called Chandragupta, and he was about to inaugurate the reign of the...
Apple will invest in and promote “advanced manufacturing” in the US, CEO Tim Cook told CNBC’s Jim Cramer on Wednesday after the somewhat uninspiring earnings report. It was one of the ways Apple would create...