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posted on 22 January 2018

Early Headlines: Asia Stocks Mixed, Dollar And Gold Flat, Oil And Euro Up, Shutdown Continues, Public Supports Dreamers, New WH Disorder Book, Reverse Brexit?, SPD To Support Merkel, And More

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Early Bird Headlines 23 January 2018

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.


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  • Comparative Corporate Income Tax Rates (The Daily Shot) The new tax law brings the statutory U.S. corporate tax rate down to the middle of the pack. Of course this says nothing about the relative effective tax rates across the various countries.


  • Senate adjourns without deal to end government shutdown; vote postponed until noon Monday (The Washington Post) The government shutdown headed into its third day after frantic efforts Sunday by a bipartisan group of moderate senators failed to produce a compromise on immigration and spending. The effects of the shutdown over the weekend were relatively limited - halting trash pickup on National Park Service property, canceling military reservists’ drill plans, and switching off some government employees’ cellphones.

But the shutdown continuing into Monday, the start of the workweek, means that hundreds of thousands of workers will stay home and key federal agencies will be affected. Passport and visa applications will go unprocessed, federal contractors will see payments delayed, and the Internal Revenue Service will slow its preparations for the coming tax season.


  • Graham: Stephen Miller makes immigration deal impossible (The Hill) GOP Sen. Lindsey Graham (S.C.) warned on Sunday that the White House staff is undercutting President Trump and Congress's ability to get a deal on immigration. Graham told reporters as he headed into a closed-door negotiation with a bipartisan group of senators:

"Every time we have a proposal it is only yanked back by staff members. As long as Stephen Miller is in charge of negotiating immigration, we're going nowhere."

“As long as Sen. Graham chooses to support legislation that sides with people in this country illegally and unlawfully instead of our own American citizens, we're going nowhere. He’s been an outlier for years."

  • ‘Defiance Disorder’: Another new book describes chaos in Trump’s White House (The Washington Post) Like the books that came before it, and almost certainly like the ones still to come, Kurtz's book, "Media Madness: Donald Trump, The Press, And The War Over The Truth," offers a portrait of a White House riven by chaos, with aides scrambling to respond to the president's impulses and writing policy to fit his tweets, according to excerpts obtained by The Washington Post.
  • Naturalization rate among U.S. immigrants up since 2005, with India among the biggest gainers (Pew Research Center) The total number of naturalized immigrants in the U.S. increased from 14.4 million in 2005 to 19.8 million in 2015, a 37% increase. Most of the United States’ 20 largest immigrant groups experienced increases in naturalization rates between 2005 and 2015, with India and Ecuador posting the biggest increases among origin countries, according to Pew Research Center estimates of immigrants eligible for U.S. citizenship.


Click for large image.


Nigel Farage, the former UK Independence Party leader, now says that the June 2016 Brexit referendum could be overturned. He's right, and the first requirement is to dispel the aura of inevitability surrounding Britain's withdrawal from Europe.

... diehard Euroskeptics would never have won a majority without some 20% of voters who cared little about Europe, but treated the referendum as a protest vote. Many of these low-conviction voters are now dismayed that Brexit has distracted attention from their real grievances about health, inequality, low wages, housing, and other issues. Yet, for this very reason, they want the inevitable departure from Europe to happen as quickly as possible so that the country can get back to business as usual.

Now suppose these voters began to believe that Brexit, far from being inevitable, might never happen. They would demand that politicians “should stop banging on about Europe" and start dealing with the people’s real concerns.



  • Turkish forces push into Syria, battle Kurdish militia (Reuters) Turkey's army and rebel allies battled U.S.-backed Kurdish militia in Syria's Afrin province on Sunday, stepping up a two-day-old campaign against YPG fighters that has opened a new front in Syria's civil war.



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