FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 06 December 2017

Early Headlines: Asia Stocks, Dollar, Oil And Gold All Down, US Budget Struggles, Nat. Monument Furor, Trump Moves To Jerusalem, Microgrids, China Energy Shortage, And More

Written by

Early Bird Headlines 06 December 2017

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, published Monday, Wednesday and Friday, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.


Please share this article - Go to very top of page, right hand side for social media buttons.

Special Announcement

The Early Bird has returned and will be published Monday through Friday.


  • Asia markets decline across the board, Nikkei falls nearly 2% (CNBC) Asia markets fell sharply across the board on Wednesday as the main index in Japan lost nearly 2%. The session in Asia followed overnight declines in U.S. stocks, where the S&P 500 posted its first three-day losing streak since August. The dollar traded at 93.202 against a basket of other currencies as of 2:21 p.m. HK/SIN, off from an overnight high of 93.488. U.S. crude was down 0.33% at $57.43, and global benchmark Brent fell 0.32% to $62.66 a barrel. Gold was mostly unchanged in Asian trade on Wednesday at $1,266.28 an ounce.


  • The Globalization of Our Discontent (Project Syndicate) Globalization, which was supposed to benefit developed and developing countries alike, is now reviled almost everywhere, as the political backlash in Europe and the US in recent years has shown. The challenge is to minimize the risk that the backlash will intensify, and that starts by understanding - and avoiding - past mistakes. Prof. Sticlitz summarizes the past mistakes:

"... it is clear that US trade negotiators got most of what they wanted. The problem was with what they wanted. Their agenda was set, behind closed doors, by corporations. It was an agenda written by and for large multinational companies, at the expense of workers and ordinary citizens everywhere. "


    • Right scrambles GOP budget strategy (The Hill) House GOP leaders’ strategy to avert a government shutdown was thrown into uncertainty Tuesday amid growing demands from conservative hard-liners and defense hawks.

      Leaders of the conservative House Freedom Caucus, who threatened to derail a procedural tax vote on Monday night to gain more leverage in the spending talks, have been pushing for an initial CR that lasts through Dec. 30, warning that lawmakers would face far greater pressure to accept a bad spending deal right before Christmas.

    • Fact Check: Was Trump's Reduction of Two National Monuments in Utah Illegal? (The Weekly Standard) See also next two articles. After President Donald Trump’s announced Tuesday that he was reducing the land size of two national monuments, Patagonia, the outdoor clothing and gear store, replaced its homepage with a statement claiming that Trump had illegally stolen that land. What does the law say?

    In an op-ed for the Washington Post, an attorney at Pacific Legal Foundation Jonathan Wood argues that “nothing in the Antiquities Act forbids the president from revoking or shrinking a national monument." Other legal studies, cited by Wood, argue the same; noting that presidents cannot bind future presidents to their use of executive power.

    President Donald Trump made a curious case for stripping federal protections from vast stretches of two of America's national monument lands.

    For one, he said his decision will give Native Americans back their "rightful voice over the sacred land." But they already have specified rights on the land, thanks to the national monument designation under the Antiquities Act, and fear losing those rights under his decision. That's why they're fighting his action in court.

    Trump also said that thanks to his decision, "families will hike and hunt on land they have known for generations, and they will preserve it for generations to come. Cattle will graze along the open range. Sweeping landscapes will inspire young Americans to dream beyond the horizon."

    But hiking, hunting and cattle-grazing are already allowed on the lands that make up the two national monuments he is targeting in Utah: Bears Ears and Grand Staircase-Escalante. If the loss of protection spurs energy development, people may see mines on a sweeping landscape where they are now forbidden.

    ... in attacking the media Trump has in many ways strengthened it. This year, the Times, the Washington Post, and many other independent, professional enterprises have reminded the country why the Founders enshrined a free press as a defense against abusive power. Among other achievements, the media’s coverage of Special Counsel Robert Mueller’s investigation has made transparent the seriousness of its findings so far, and constrained the President’s transparent desire to interfere.

    • Government Action Opens Doors for Microgrids and Energy Storage in Massachusetts (MicroGrid Knowledge) The Boston City Council and the Massachusetts Department of Public Utilities last week each separately took action that opens the door toward more microgrids and energy storage in the state. Utility opposition also can delay microgrid projects. So Boston officials early on brought Eversource, the utility that serves Boston, into the conversation about the microgrid. Swing said that the utility and city have put together a draft memorandum of understanding governing their relationship. See next article.
    • Microgrids and How They Work (YouTube) This is an animation explaining the concept of Microgrids. Microgrids coordinate use of local energy sources and allow local power grids to maintain necessary levels of service in event of extreme demand or Distribution Substation failure.


    • Donald Trump plans to recognise Jerusalem as Israeli capital (Financial Times) Donald Trump plans to recognise Jerusalem as the capital of Israel and will announce plans to move the US embassy there from Tel Aviv, according to senior administration officials, defying fears among counterparts in the Middle East and elsewhere that such a move would threaten efforts to broker peace.

    The president is expected to make the announcement on Wednesday in the face of warnings from the Palestinian and Jordanian leaders, among others, that a decision to move the embassy would have dangerous consequences.


    • What Does Saleh's Killing Mean for Yemen? (The Real News Network) Yemen's longtime ex-president Ali Abdullah Saleh has been killed by his former allies, the Houthi rebels. Sheila Carapico of University of Richmond says the devastating Yemen war could now expand to even more fronts.


    • China is facing a shortage of natural gas this winter as Beijing curbs coal use
    • Domestic natural gas prices are jumping despite a global supply glut due to infrastructure, logistical challenges
    • Even with a global oversupply, the natural gas market is prone to seasonality
    • China’s growing footprint on the globe threatens to trample the natural world (The Conversation) Many observers of China’s escalating global program of foreign investment and infrastructure development are crossing their fingers and hoping for the best. In an ideal world, China’s unbridled ambitions will improve economic growth, food security and social development in many poor nations, as well as enriching itself.

    But a close look reveals that China’s international agenda is far more exploitative than many realise, especially for the global environment. And the Chinese leadership’s claims to be embracing “green development" are in many cases more propaganda than fact.



    >>>>> Scroll down to view and make comments <<<<<<

    Click here for Historical News Post Listing

    Make a Comment

    Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

    Econintersect Contributors

    Print this page or create a PDF file of this page
    Print Friendly and PDF

    The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

    Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
    Asia / Pacific
    Middle East / Africa
    USA Government



    Analysis Blog
    News Blog
    Investing Blog
    Opinion Blog
    Precious Metals Blog
    Markets Blog
    Video of the Day


    Asia / Pacific
    Middle East / Africa
    USA Government

    RSS Feeds / Social Media

    Combined Econintersect Feed

    Free Newsletter

    Marketplace - Books & More

    Economic Forecast

    Content Contribution



      Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

    This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved