Archive for the ‘Uncategorized’ Category
Monica Crowley bows out of Trump post
Conservative author and television personality Monica Crowley is stepping away from her appointment to a senior communications role in Donald Trump’s incoming administration, CNN confirms. …read more
Source: Monica Crowley bows out of Trump post
Monica Crowley bows out of Trump post
Conservative author and television personality Monica Crowley is stepping away from her appointment to a senior communications role in Donald Trump’s incoming administration, CNN confirms. …read more
Source: Monica Crowley bows out of Trump post
These NATO countries spend too little on defense
Only five of NATO’s 28 members meet the alliance’s military spending guideline of 2% of GDP. Five member states spend less than 1% of GDP on defense. …read more
Source: These NATO countries spend too little on defense
Will Trump ‘evict’ press corps from White House?
A report in Esquire raises the possibility of the White House press corps being “evicted” by the Trump administration. One senior official reportedly said they believe the media should be treated as the ‘opposition party.’ …read more
Source: Will Trump ‘evict’ press corps from White House?
IMF: Trump stimulus to boost U.S. growth
U.S. economic growth is set to get a lift from stimulus measures under Donald Trump’s presidency, the International Monetary Fund predicts. …read more
Source: IMF: Trump stimulus to boost U.S. growth
Oil Slides After Saudis Suggest Early End To OPEC Deal
By Tyler Durden
Following a brief spike overnight (as China intervened in its equity market), crude prices slipped lower, testing towards a $51 handle after Saudi Arabia says OPEC is on track to wrap up its production curbs by the middle of the year, potentially leaving its aim of clearing a global oil glut unfinished.
As Bloomberg reports, OPEC and Russia won’t need to prolong output cuts beyond June because the agreed reductions will have already ended the oversupply in world crude markets, Saudi Minister of Energy and Industry Khalid Al-Falih said in Abu Dhabi on Monday. However, ending the deal by mid-year and restoring production would mean the surplus just starts building again, thwarting OPEC’s ambition of whittling down bloated oil inventories.
The Organization of Petroleum Exporting Countries said that draining off a stockpile “overhang” of more than 300 million barrels — enough to supply China for almost a month — was the main aim of supply curbs agreed with Russia and other producers. Twenty-four nations signed up to a joint cutback of 1.8 million barrels a day on Dec. 10.
If they extend the deal for six months beyond its scheduled expiry in June, that surplus will be entirely eliminated by the end of the year, according to Bloomberg calculations based on data from the International Energy Agency. If they don’t extend the deal, and restore output to previous levels, about two-thirds of that glut will remain in place.
“If the reduction is of such short duration, this will hardly be sufficient to balance the oil market,” said analysts at Commerzbank AG led by Eugen Weinberg in Frankfurt. “In this case the market participants who bet on rising prices will probably withdraw from the market, putting corresponding pressure on prices.”
And that is what we are seeing begin to occur on this illiquid US holiday trading day…
When OPEC announced its original deal in Vienna, the group said it could be extended for another six months to “take into account prevailing market conditions and prospects.” Al-Falih said OPEC will reassess the situation when it meets again and the group’s members have said they’re will to extend the pact if necessary.
Source: Oil Slides After Saudis Suggest Early End To OPEC Deal
8 men are richer than 3.6B people combined
Eight men now control as much wealth as the world’s poorest 3.6 billion people, according to a new report from Oxfam International. …read more
Source: 8 men are richer than 3.6B people combined
Can Marine Le Pen Pull Off French Election Stunner? Germany Loses No Matter Who Wins
By Tyler Durden
Submitted by Mike Shedlock via MishTalk.com,
Conventional wisdom suggests National Front candidate Marine le Pen will make it to the second round in French elections, then lose in a landslide to whoever her opponent happens to be.
I believe le Pen’s odds of winning it outright are far better than most think.
Current Polls
Chart from Wikipedia, with image clips added.
Top Five candidates
- Marine le Pen: National Front – Eurosceptic, Anti-Immigration – 25%
- François Fillon: Republicans – Center Right – 24%
- Emmanuel Macron: En Marche! – Socialist – 17%
- Manuel Valls: Socialist – 11%
- Jean-Luc Mélenchon: Left Front – Socialist – 13%
In France, the winners of each party square off in around one of national elections. If no one gets 50% of the vote, the top two square off in round two.
With about 25% or so solid votes, le Pen is likely to make it to the second round. The others battle to see who comes up against le Pen.
Eurointelligence Reports
January 13: Yesterday night the seven candidates for the left primaries had their first debate. It was sometimes painful to watch and it is not clear how much the audience took home from the long catalogue of measures the candidates were quizzed about. All tried to differentiate themselves from François Hollande, and lashed out against the common enemy François Fillon. All were eager to show how presidential they are and how well they represent the real socialist heart. Though it did not look like they succeeded. One blogger wrote that there was one irreconcilable division, that is between the candidates and their audience.
François Fillon, meanwhile, has his own rebellion to deal with. Laurent Wauquiez, Christian Estrosi, and other ex-Sarkozists, insist on making their own mark and call for changes to Fillon’s programme. When Fillon made his big appearance in Nice, Estrosi told everyone in front of the presidential candidate that he is not a “Filloniste”. Laurent Wauquiez, who was fired by Fillon, is leading this mini-revolt. He recently called for a de-taxation of supplementary working hours, one of Sarkozy’s key measures, which is absolutely not in the Fillon’s programme, writes Marianne. Brice Hortefeux, another Sarkozy ally, said they want to enrich the programme. Fillon, however, remains firm and will not give in to those demands. His campaign chief dismissed those efforts as coming from bad losers or small players. The risk is that he may alienate the Sarkozy wing, though.
January 12: For Macron, no politics goes without narrative and no narrative without ideal. So, what is his ideal? Some friends call him a real libertarian, others a real democrat, who has yet to find a socially empathetic narrative. In 2015 he outlined his three dreams – equality, Europe and industry. When it comes to Europe, he may well compare with Jacques Delors, who like him was not loved by the Socialist party and made his way. But this comparison only holds on Europe. Macron’s economic ideal is inspired by new-Keynesian thinking, and the idea that social improvement is achieved by eliminating unjust rents that …read more
Source: Can Marine Le Pen Pull Off French Election Stunner? Germany Loses No Matter Who Wins
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