Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 20. Januar 2019

Stocks Climb As Fears of Economic Slowdown Subside

Posted by hkarner - 20. Januar 2019

Date: 19-01-2019
Source: The Wall Street Journal

Economic data, signs of easing trade tensions, and a batch of upbeat earnings help lift major indexes

U.S. stocks climbed Friday to notch their fourth consecutive week of gains as the fears of an economic slowdown that gripped markets in December seem to have subsided.

Data showing a healthy labor market, as well as signals from central bankers that the Federal Reserve will be flexible with monetary policy, have offered relief to investors who earlier worried that the Fed’s pace of interest-rate increases could jolt an economy on shaky footing.

The four-week winning streak by the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite is their biggest on a percentage basis since October 2011. The blue-chip index has rebounded 13% since bottoming out on Christmas Eve and suffering its worst December since 1931.

“Investor sentiment has really improved from the turmoil just before Christmas,” said Brian Jacobsen, a senior multisector strategist at Wells Fargo Asset Management, adding “we almost got a do-over” since then as investors have jumped back into the market at improved valuations.

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Trump and Destruction of the American Mind

Posted by hkarner - 20. Januar 2019

Date: 19-01-2019
Source: YaleGlobal by Louis René Beres

Donald Trump completes two years as president, and one characteristic of his term has been disdain for scientific evidence, historical perspectives, educated opinions and traditional alliances. These attitudes are not Trump’s own and the presidency represents longstanding mistrust of elites, experts and foreign ties. “To wit, in Trump’s deeply fractionated American republic, we the people now inhabit a rapidly descending ‘hollow’ land of unending submission, crude consumption, dreary profanity and immutably shallow pleasures,” argues Louis René Beres, emeritus professor of international law at Purdue University. “Bored by the suffocating banality of daily life and beaten down by the grinding struggle to stay hopeful amid ever-widening polarities of wealth and poverty, Americans grasp anxiously for almost any available lifeline of promising distraction.” Beres questions the purpose of a society that prioritizes its comfort over the very real survival of refugees fleeing war in Syria or poverty in Central America. Americans are exhausted and manipulated, and even great wealth cannot protect them from alienation, meaningless existence and perhaps catastrophe. The US could rise again as global leader, Beres concludes, but only if the nation takes stock of how far it has fallen. – YaleGlobal

The first two years of the Trump presidency have been characterized by disdain for intellect, history, science and expertise Den Rest des Beitrags lesen »

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When the World Opened the Gates of China

Posted by hkarner - 20. Januar 2019

Date: 19-01-2019
Source: The Wall Street Journal By Bob Davis

Was it a mistake for the U.S. to allow China to join the World Trade Organization? Assessments of the 2001 deal often determine positions in today’s bitter trade debate.

With a congressional vote looming in the spring of 2000, President Bill Clinton mustered his best arguments for why lawmakers should approve his proposed deal for China to join the World Trade Organization.

Adding China would link Beijing to Western economies and reduce the government’s ability to control its vast population, he said in a speech that March at Johns Hopkins’s School of Advanced International Studies. “By joining the WTO, China is not simply agreeing to import more of our products, it is agreeing to import one of democracy’s most cherished values, economic freedom,” Mr. Clinton said. “When individuals have the power not just to dream, but to realize their dreams, they will demand a greater say.” Den Rest des Beitrags lesen »

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Bull in the China Shop

Posted by hkarner - 20. Januar 2019

By John Mauldin

January 18, 2019

Demand Pulled Forward
Job Jitters
Credit Intensity
Rushing the Process

The production of souls is more important than the production of tanks…. And therefore I raise my glass to you, writers, the engineers of the human soul.

Joseph Stalin, 1932

[Our purpose is] to ensure that literature and art fit well into the whole revolutionary machine as a component part, that they operate as powerful weapons for uniting and educating the people and for attacking and destroying the enemy, and that they help the people fight the enemy with one heart and one mind.

Mao Zedong, 1942

Art and literature is the engineering that molds the human soul; art and literary workers are the engineers of the human soul.

Xi Jinping, 2014

This week’s letter focuses on China’s economy. We’ll look at some numbers showing the challenges China faces, but they don’t explain something important. The way China will meet those challenges is going to be substantially different than we would see in the West. So I want to start with a little context.

When European Central Bank President Mario Draghi promised to solve the financial crisis with “whatever it takes,” central bank policy was his only tool. Xi Jinping has a vastly larger toolbox. It is hard for us in the Western world to understand that. Xi not only has every tool a top-down government can have, he has experts to wield them, all of whom are 100% aligned with his goals. Den Rest des Beitrags lesen »

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