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Daily
On the economics of climate change, the end of the housing ATM and the scalability of human…
So I reckon I've got the politics out of the way now since I don't have a lot to add on the election in Brazil. So here's my daily post without the politics.
Climate change
I saw a great piece in Axios about climate change that I wanted to…
On the recent market selloff, tech earnings and privacy
Some thoughts on the recent market selloff
As I write these words, the Dow Jones Industrial Average is up nearly 400 points, about 1.85%. The Nasdaq is up even more. Does that mean the market rout is over? No. But, for me, it does suggest a…
Chinese innovation, Tesla’s profitability, the migrant caravan and the market plunge
Did I ever mention that the South China Morning Post is one of my favorite reads? You're going to see a lot of articles from it into today's daily post because it is a great source for information about China. And today, it had a few tech…
Using technology to phase out human workers
I know I should be writing about Italy today since the country was downgraded Friday night to Baa3 by Moody's. That puts it one notch away from junk and potentially makes the country ineligible for quantitative easing, were it to come to…
Greens have replaced the SPD in Germany and something Putin and Juncker appear to agree on
Today's daily is a grab bag of topics that I have been thinking about over the past week. I have a backlog of stories from earlier in the week I missed. So let me add these into the mix today.
But first up today is this chart from German…
The disintegration of legitimacy in western democracies
Today's daily post is going to be more of a theme post, largely because the news flow warrants it. I have at least three articles in mind, which were published over the last 24 hours that touch on the theme of a building illegitimacy in…
Trump’s amoral stance on Saudi, Sears’ potential liquidation and a bearish fund manager…
1 - Saudi
It looks as if US President Trump is trying to support the narrative that the Khashoggi assassination was a rogue interrogation gone wrong, allowing the Saudi government to escape sanction. But condemnation is so widespread, it's…
Watch Congress on Saudi not Trump, and look at China as the key to climate change
1 - Saudi
The foreign policy crisis around Saudi Arabia's alleged assassination in Turkey of a dissident US-resident journalist is dominating headlines. As is often true, it's not clear where Trump stands on the issue. And given the…
More on bank earnings, the threat to democracy and playing with authoritarian ideology
On banks, I am in Jamie Dimon's camp, thinking that this expansion has legs. So I see the sell-off as purely technical in nature and not a portent of recession.
On politics, the macro view is one where authoritarianism is being touted and…
Bank earnings, rising mortgage rates, what strategists say about the selloff, and “dangerous…
I have six sections in todays's newsletter: markets, macro, micro, the US, the UK, and China. So there's a lot of news flow, most of it negative unfortunately. The key piece in the mix of all of this is the 4.2% update to the GDPNow…