Patriotism Has Been Turned Against Patriots

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Patriotism Has Been Turned Against Patriots Paul Craig Roberts To understand how screwed-up America is, consider that patriotism is now associated with the suppression of dissent. Rich football team owners, who know nothing of the hard lives of most Americans, and the police, who routinely shoot down black people in the streets and in their… Read More

Improving the Czech health care system

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by Falilou Fall, Czech Republic desk, OECD Economics Department Health outcomes in the Czech Republic have improved considerably over the last decade. Life expectancy rose by 2.6 years to 78.7 years between 2005 and 2015 towards the OECD average of 80.6 years. This was achieved with relatively low expenditures on health care of about 7%… Read More

That Escalated Quickly: The Emerging Market Currency Crisis Of 2018 Threatens To Destabilize The Entire Global Financial System

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We haven’t seen emerging market currencies crash like this in over a decade, and analysts are warning that if this continues we could witness a devastating global debt crisis.  Over the past decade, there has been an insatiable appetite for cheap loans in emerging market economies, and a very substantial percentage of those loans were… Read More

Tuesday’s News Links

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[Reuters] Asia tries to find its footing, China disappoints [BloombergQ] Emerging Market Rout Eases After ‘Manic Monday’ Turkey Contagion [BloombergQ] U.S. Warns Turkey Over Detained Pastor as Market Meltdown Drags On [Reuters] China’s economy cools further, investment growth at record low [Reuters] China’s July property investment grows at fastest pace in 2-years [BloombergQ] Think Turkey, Argentine Sovereign Debt Is Bad? Look… Read More

Monday Afternoon Links

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[CNBC] Dow falls 100 points as Turkey crisis continues [Reuters] Oil falls 2 pct as focus shifts to softer demand outlook [BloombergQ] Stress Mounts in Turkish Bank Bonds Battered by Lira’s Slide [Reuters] Argentina to increase benchmark interest rate to 45 pct -central bank [Reuters] Erdogan vows action against ‘economic terrorists’ over lira plunge [CNBC] Goldman Sachs warns about US companies’… Read More

The Law As Weapon

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The Law As Weapon Paul Craig Roberts Robert Mueller is supposed to be investigating Russiagate, which has been shown to be a hoax concocted by former CIA director John Brennan, former FBI director James Comey, and current deputy Attorney General Rod Rosenstein. As Russiagate is a hoax, Mueller has not been able to produce a… Read More

Monday’s News Links

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[Reuters] Asian shares, euro trampled as Turkish rout spreads [Reuters] Turkish lira trades just below 7 against dollar, action plan awaited [Reuters] South African rand falls more than 10 percent, hits 2-year low vs dollar [Reuters] Asian currencies weaken; Indonesian rupiah leads losses [BloombergQ] China’s Giant Banks Top This Ranking. And That’s a Cause for Concern [BloombergQ] China-U.S. Trade Spat Is… Read More

Sunday Evening Links

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[Reuters] Turkish lira plunges to new record low in Asia Pacific trade [Reuters] Euro on defensive as Turkish crisis sparks rush to safety [BloombergQ] Losing Faith Fast, Istanbul Merchants Throw in Towel on the Lira  [WSJ] Optimism on European Growth Reverses as Headwinds Mount [FT] Turkey promises plan to calm markets and halt lira’s fall [FT] Turkey looks to ‘new alliances’… Read More

Caitlin Johnstone tells it like it is

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Caitlin Johnstone tells it like it is When Mattis says that the Russian government is trying to “undercut and compromise our belief in our ideals,” he is saying that Moscow is interrupting the lies that Americans are being told by the plutocrat-owned media. As we’ve been discussing a lot recently, control of the narrative is… Read More

Sunday’s News Links

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[BloombergQ] U.S. Budget Gap Widens as Revenue Growth Outpaced by Spending [Politico] China says U.S. farmers may never regain market share lost in trade war [Reuters] Turkey is a ‘target of economic war’, Erdogan says [Reuters] Iran Supreme Leader calls for action to face ‘economic war’: state TV [WSJ] In Break From Precedent, Trump’s Moves Aggravate Turkey’s Currency Crisis, Rather… Read More

Saturday’s News Links

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[BloombergQ] As Turkey Crisis Deepens, Bankers to Review Impact of Shocks [BloombergQ] Turkish Bank Crisis Prompts Emergency Meeting on Saturday [Reuters] Erdogan says U.S. ‘wrong’ to threaten Turkey after Trump doubles tariffs [Reuters] Turkey’s Erdogan repeats call to Turks to help shore up lira [Reuters] Chinese media keep up drumbeat of criticism of U.S. [WSJ] Chinese Banks Rev up Lending to… Read More

Weekly Commentary: Turkey (Nudged Over the Cliff)

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The Turkish lira sank 13.7% in chaotic Friday trading. The lira’s 21.0% “worst week in 17 years” collapse pushed y-t-d losses to 41.1%. Turkish 10-year yields spiked to almost 21%, before retreating somewhat. After beginning the year at 155, Turkey sovereign credit default swaps (CDS) spiked 166 bps during Friday trading (up 199 bps for… Read More

Rising financial integration amplifies the global impact of financial market  shocks

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by Nigel Pain and Véronique Salins, OECD Economics Department Stronger cross-border economic and financial integration implies that macroeconomic shocks in one country are increasingly likely to spill over into other economies. This is particularly true in national financial markets, where developments increasingly reflect common underlying factors, as shown in the special chapter of the latest OECD… Read More