US stock market futures pointed to a higher open this morning (SPY +0.2%), on pace to continue record-highs, as investors bet that the US president's tax reform plans will boost economic growth and corporate profits.
Here is the current market situation from CNN Money
European markets are broadly higher today with shares in France leading the region. The CAC 40 is up 1.28% while Germany's DAX is up 1.05% and London's FTSE 100 is up 0.18%.
The dollar rose to a two-week high against the yen on Monday, with the market breathing a sigh of relief after a closely watched two-day U.S.-Japan summit held over the weekend was seen to have ended smoothly.
SEOUL (Reuters) - Samsung Group leader Jay Y. Lee appeared at the South Korean special prosecutor's office for questioning on Monday as part of a wider investigation into an influence-peddling scandal that could topple President Park Geun-hye.
TOKYO (Reuters) - Toshiba Corp will on Tuesday detail a writedown of close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the Japanese group's efforts to fix that and other balance sheet headaches.
NEW YORK/NORTH CHARLESTON, S.C. (Reuters) - Boeing Co faces its first union vote on Wednesday at its aircraft factory in South Carolina, a high-profile test for organized labor in the nation's most strongly anti-union state.
NEW YORK (Reuters) - A Florida software engineer and a New Jersey pastor are expected on Monday to face trial in a case stemming from an investigation into a bitcoin exchange and a data breach at JPMorgan Chase & Co .
BERLIN (Reuters) - Volkswagen's talks with unions over the implementation of its turnaround plan were broken off on Monday, both sides said, leaving in limbo a deal on cost-cutting following the carmaker's damaging diesel emissions scandal.
Submitted by Michael Snyder via The Economic Collapse blog,
A new recession is coming, and Donald Trump needs it to begin sooner rather than later. As I explained last week, most American voters tend to care about their pocketbooks more than anything else. If the next recession were to officially start during the first quarter of 2017, it would be very easy for Trump to blame it on Obama, and then he could portray himself as the one that pulled the U.S. economy out of recession in time for the 2020 election. But if the next recession does not begin until 2018 or 2019, everybody is going to blame it on Trump even if it is not his fault. In politics, who gets the blame for whatever goes wrong is often the most important thing, and if Trump wants to avoid blame for the next recession he needs for it to start as quickly as possible.
For most of 2016, the mainstream media was warning that a new recession was probably coming no matter who won the election. For one example, just check out this Bloomberg article.
And for once, the mainstream media was precisely correct. Barack Obama left us with an enormous economic mess, and it would take an economic miracle of unprecedented proportions to keep the U.S. economy from going into a recession at this point.
During the Obama years, the U.S. went on a debt binge unlike anything we have ever seen before.
Following a woefully belated response by California authorities' to the dangerous situation unfolding at the Lake Oroville Dam in Northern California over the weekend, an evacuation order forcing some 200,000 people living below the tallest dam in the US remained in place early on Monday after residents were abruptly told to flee when a spillway appeared in danger of collapse.
The Oroville dam is nearly full following winter storms that brought relief to the state after four years of drought. Water levels were less than 7 feet (2 meters) from the top of the dam on Friday. State authorities and engineers on Thursday began releasing water from the dam after noticing that large chunks of concrete were missing from a spillway.
California Governor Jerry Brown asked the Federal Emergency Management Agency on Friday to declare the area a major disaster due to flooding and mudslides brought on by the storms.
.@JerryBrownGov Issues Emergency Order to Help Response to #OrovilleSpillway https://t.co/RW8XBlLFT6 pic.twitter.com/ULQGjkt1c1
— Gov. Brown Press Ofc (@GovPressOffice) February 13, 2017
As reported last night, authorities issued the evacuation order on Sunday, saying that a crumbling emergency spillway on Lake Oroville Dam in north California could give way and unleash floodwaters onto rural communities along the Feather River. "Immediate evacuation from the low levels of Oroville and areas downstream is ordered," the Butte County sheriff said in a statement posted on social media.
The video below summarizes the situation at the damaged ...
David McWilliams - Print Punts As French Election Could See Euro Break Up
David McWilliams, economist, writer and journalist, has warned that the coming French election may lead to the euro breaking up and that Ireland should have a 'plan B' and 'print punts' in order to be ready for the collapse of the "single currency."
David McWilliams at Ireland's Banking Inquiry
This time last year, only a few of us were suggesting that Brexit was likely. The mainstream view was that it couldn't possibly happen. But it did. And so too did Trump. When this column argued in June that "we should prepare for President Trump", one or two local talk shows chuckled and sneered at the mere suggestion that such a creature could inhabit the White House. But he is there.
In December, the Italian electorate revolted against its government - again the view of 'sensible' people was that bolshie Italians would se ...
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