Written by Econintersect
Early Bird Headlines 08 September 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, 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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Global
- Asia markets mixed as dollar slides post-ECB and China exports softer than expected (CNBC) Equities in Asia searched for direction Friday as the dollar posted broad losses a day after the European Central Bank putting tapering on the table on Thursday. The dollar index, last stood at 91.174, compared with levels around the 92 handle over the past two weeks. Brent futures edged up 0.51% to trade at $54.77 a barrel and U.S. West Texas Intermediate crude added 0.31% to trade at $49.24. Spot gold was up 0.3% at $1,353.12 at 0420 GMT, after earlier marking its strongest level since August last year.
- You’re more likely to achieve the American dream if you live in Denmark (World Economic Forum) Research has repeatedly shown the clear link between high levels of income inequality and low levels of social mobility. This graph, from the book The Spirit Level shows that far from being the land of opportunity, the US has very low social mobility. You’re much more likely to achieve the “American dream” if you live in Denmark.
U.S.
- Monstrous Hurricane Irma kills 14 in Caribbean, heads for Florida (Reuters) The eye of Hurricane Irma grazed the Turks and Caicos Islands on Thursday, rattling buildings after it smashed a string of Caribbean islands as one of the most powerful Atlantic storms in a century, killing 14 people on its way to Florida. Keep following the frequently updated reports with excellent weather graphics at Tracking Irma while also Assessing Storm Impacts – 08Sep2017.
- Irma Forces Largest Miami Evacuation After Wrecking Islands (Bloomberg) Hurricane Irma continued on a collision course with Miami after devastating a chain of Caribbean islands, triggering the largest ever evacuation in Miami-Dade County and threatening to become the most expensive storm in U.S. history. The deadly system is projected to hit Florida Sunday, according to the U.S. National Hurricane Center.
- Power shift as Trump opens door to Schumer, Pelosi (The Hill) Suddenly, it seems like Sen. Charles Schumer (N.Y.) and Rep. Nancy Pelosi (Calif.) are driving the agenda in Congress.
The deal President Trump struck with the two Democrats over the objection of the majority leaders in his own party has at least temporarily upended the balance of power in Washington, emboldening Democrats who now see space to work with Trump on immigration and spending.
It’s a dramatic shift from Trump’s first seven months in office, when the president worked almost exclusively with Republicans and Democrats were largely an afterthought.
- Trump did GOP leaders a huge favor by striking debt deal with Democrats (CNBC) See also next article.
- President Trump’s debt deal with the Democrats lets the already cowardly GOP leaders off the hook.
- Trump is making sure his response to the hurricanes and the speed of government aid cannot be criticized, as it has with past presidents.
- The debt is already out of control, and this isn’t likely going to be the time or the team of leaders to fix that.
- Here are 3 big reasons Republicans are unlikely to achieve major tax reform this year (CNBC) The three reasons:
- A darkening broader political landscape.
- Rising deficit pressures.
- Rising discord within the GOP.
- Mueller seeks interviews with WH staff over Trump Tower meeting statement (CNN) Special Counsel Robert Mueller’s team has approached the White House about interviewing staffers who were aboard Air Force One when the initial misleading statement about Donald Trump Jr.’s meeting with a Russian lawyer at Trump Tower was crafted, three sources familiar with the conversations said. The special counsel’s discussions with the White House are the latest indication that Mueller’s investigators are interested in the response to the Trump Tower meeting. Mueller wants to know how the statement aboard Air Force One was put together, whether information was intentionally left out and who was involved, two of the sources said.
- Blumenthal: Trump Jr. testimony had ‘gaping holes’ (The Hill) Sen. Richard Blumenthal (D-Conn.) said that Donald Trump Jr.’s interview with a Senate panel Thursday had “gaping holes” and the president’s son should return to testify under oath on his involvement with Russia during the 2016 election. Blumenthal told MSNBC‘s Chris Matthews about his Senate Judiciary Committee testimony:
“[Donald Trump Jr.] left more questions unanswered than he answered. There were gaping holes in the information he provided, which is why we need to have him come back in public under oath in a hearing of the Judiciary Committee.”
Syria
- Russian air strike kills around 40 Islamic State fighters in Syria, including four commanders: RIA (Reuters) Around 40 Islamic State fighters, including four senior commanders, were killed near Syria’s eastern city of Deir al-Zor by a Russian air strike, the Russian defense ministry said on Friday, according to the RIA news agency. It said among those killed was Abu Muhammad al-Shimali, who oversees foreign fighters at IS.
China
- State-run Chinese newspaper chides Trump for ending program that gives children of illegal immigrants a path to stay in the country
- Comments on microblog Weibo show Trump’s presidency is a hot topic in China
Mexico
- Mexico quake triggers tsunami warning: Live updates (CNN) 8.1 scale earthquake just rocked México.
- Massive 8.1 Magnitude Earthquake Hits Southern Mexico (Bloomberg) The quake was so strong that it caused buildings to sway violently in Mexico’s capital more than 1,000 kilometers (650 miles) away. Residents fled buildings, often in their pajamas, and gathered in frightened groups in the street. Some neighborhoods remained in darkness after electricity was knocked out. The U.S. Geological Survey said the quake struck at 11:49 p.m. Thursday local time and its epicenter was 165 kilometers (102 miles) west of Tapachula in Chiapas not far from Guatemala. It had a depth of 35 kilometers (22 miles).
- Magnitude-8.4 earthquake hits southern Mexico (Al Jazeera, Twitter)
