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posted on 02 November 2016

Early Headlines: Asia Stocks Drop, Dakota Access Human Rights Looked At By UN, Brexit Will Bring Tough 2017 To UK, Imperial Talk From Turkey, Putin Losing Leverage And More

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Early Bird Headlines 02 November 2016

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.



"Markets have been rankled by some polls putting Trump ahead of Clinton for the first time, given Trump's controversial policy platform of re-looking at trade deals and clamping down on immigration,"



  • Race, Not Class, Dictates Republican Future (Bloomberg) The class compositions of the Republican and Democratic parties keep evolving. Democrats have been shedding working-class white voters for decades, while the GOP, long the party of management, entrepreneurs, and inherited wealth, has acquired a new affinity for blue-collar blues, including a presidential nominee who promises to keep economically unviable coal operations in business while crushing labor competition from low-skilled immigrants. In the New York Times last week, political sage Thomas Edsall called this process the “Great Democratic Inversion." See next article.

  • The Great Democratic Inversion (The New York Times) The move of the Republican Party to become increasingly the party of whites is doomed to be a long-term failure as well as causing difficulties now. See next article. Thomas Edsall writes is this article:

What these figures suggest is that the 2016 election will represent a complete inversion of the New Deal order among white voters. From the 1930s into the 1980s and early 1990s, majorities of downscale whites voted Democratic and upscale whites voted Republican. Now, looking at combined male and female vote totals, the opposite is true.


  • Dakota Access pipeline protests: UN group investigates human rights abuses (The Guadian) A United Nations group is investigating allegations of human rights abuses by North Dakota law enforcement against Native American protesters, with indigenous leaders testifying about “acts of war" they observed during mass arrests at an oil pipeline protest. A representative of the UN’s permanent forum on indigenous issues, an advisory group, has been collecting testimony from Dakota Access pipeline protesters who have raised concerns about excessive force, unlawful arrests and mistreatment in jail where some activists have been held in cages.

  • 370 top economists publish scathing letter against 'dangerous, destructive' Trump (CNBC) (Econintersect: It is debatable whether this is damaging to Trump or helpful, considering the record of the economics profession in the political economy area.) Eight Nobel laureates joined 362 other economists in an open letter arguing that Americans should not vote for Donald Trump. The letter, released Tuesday and reported on by the Wall Street Journal, lists 13 economic arguments against Trump, but does not specify which (if any) candidate voters choice in lieu of the Republican nominee. In part:

"Donald Trump is a dangerous, destructive choice for the country. He misinforms the electorate, degrades trust in public institutions with conspiracy theories, and promotes willful delusion over engagement with reality.... If elected, he poses a unique danger to the functioning of democratic and economic institutions, and to the prosperity of the country. For these reasons, we strongly recommend that you do not vote for Donald Trump,"


  • Brexit vote will lead to cut in disposable incomes in 2017, says thinktank (The Guadian) British households can expect a cut in their disposable incomes next year as the knock-on effects of the vote to leave the European Union send inflation rocketing and weaken the outlook for the economy. The government’s freeze on tax credit payments will also play a part in dragging down real disposable incomes for the first time in four years, according to forecasts by the National Institute of Economic and Social Research (NIESR). Revealing a worsening outlook after the collapse in the pound and slump in business investment, the NIESR’s forecasts showed the UK suffering a huge aftershock from the Brexit vote that “could still lead to a recession".



  • Mosul battle: Iraqi special forces 'break front line' (BBC News) Iraqi forces fighting so-called Islamic State (IS) in Mosul have broken through the front line without suffering any losses, a spokesman says. Sabah al-Numan told the BBC that many IS fighters had been killed. Government forces entered the city's outskirts for the first time on Tuesday since the city was seized in June 2014. Wednesday is the 17th day of the anti-IS operation, which involves 50,000 personnel including Kurdish Peshmerga fighters and Sunni Arab tribesmen.


  • Commentary: How Putin is losing his grip on Russia's pipeline politics (Reuters) As President Vladimir Putin seeks to reinforce Russia’s position as a global power through nuclear saber-rattling and military campaigns in Ukraine and Syria, the next U.S. administration will need to both contain and cooperate with him. If played right, that may get easier in the years to come. The reason: The transformation of the world’s natural gas markets is weakening Moscow’s economic toolkit. And that will make Putin’s pipeline politics - his use of natural resources for foreign policy purposes - obsolete.


  • Why America Needs India's Rockets (Bloomberg) Since 2005, U.S. satellite manufacturers have been prohibited from hiring India's space agency to launch their equipment. Private American launch companies, such as SpaceX, are quite happy with this arrangement, which was intended to protect them. But the ban is not only wrong in principle -- it's actually impeding an exciting new American industry. Last month, under pressure from satellite operators and manufacturers, U.S. trade officials began reviewing the decade-old policy. They should heed the pressure and overturn it, according to this author. India has been racking up a series of cheap and practical achievements. One of its most important feats was the development of the Polar Satellite Launch Vehicle, which was designed to carry satellites for monitoring agriculture and water resources, among other things. What made the PSLV unique was that it was designed to launch small satellites. And that's a good niche to occupy at the moment.

South Korea

  • Scandal-hit South Korean president replaces prime minister, finance chief (The Japan Times) Embattled South Korean President Park Geun-hye replaced her prime minister and two other top Cabinet members on Wednesday, in her latest bid to contain a damaging political scandal. The move was part of a planned reshuffle of senior civil servants and ministers aimed at setting up a cross-party “neutral" Cabinet and assuaging public anger with the president and her administration. Park has been engulfed in a political storm over allegations that she allowed a longtime friend, who holds no political position, to meddle in affairs of state - including cabinet appointments. The friend, Choi Soon-sil, is currently being questioned under emergency detention by prosecutors over her links to Park and other allegations of influence-peddling and fraud.


  • Exclusive: Brazil prosecutor investigates funds' investment in Trump Hotel Rio (Reuters) A Brazilian prosecutor has opened a criminal investigation into investments made by two state pension funds in a luxury Rio de Janeiro hotel that is part of the Trump franchise, according to a court filing reviewed by Reuters on Tuesday. The 130 million reais ($40 million) investment by the two small funds in the hotel's developer "required investigation" due to its size, structure and high level of risk, Anselmo Lopes, a federal prosecutor in Brasilia, said in the document dated Oct. 21 that opened the inquiry. Lopes said the pension fund for state IT firm Serpro and the Igeprev fund for employees of Tocantins state invested the money in the developer, LSH Barra Empreendimentos Imobiliflrios SA, which built the Trump Hotel Rio de Janeiro.

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