The former ECB head Mario Draghi said yesterday that unless Europe invests an extra €800BN per year, it is "doomed.
This boost in investment (which equals 5% of GDP), would be more than double the size of the Marshall Plan. In other words, Europe is about to unleash a historic orgy of debt and spending... It would most likely raises taxes (and inflation?) This announcement hits its wall of opposition in Germany, irrespective of warning that it’s the only way to make EU more competitive w/China & US. “That can be summarized briefly: Germany should pay for others. That can’t be a master plan,” FinMin Lindner said. Source: Bloomberg, HolgerZ
BREAKING: Trump has a whopping 27.8% lead over Harris in Nate Silver’s updated electoral college prediction poll.
Trump - 63.8% Harris - 36% NB: The graph shows the chance of winning, not the percentage of the vote !!! Source: Leading Report, Nate Silver
Donald Trump Trump threatens to impose a 100% tariff on countries that conduct business in currency other than the USDollar, adding a new pillar to his tariff platform.
Trump, who has long embraced protectionist trade policies, said the dollar has been “under major siege” for 8yrs. China, India, Brazil, Russia, and South Africa discussed de-dollarization at a summit last year. By contrast, Trump has said he wants the dollar to remain the world’s reserve currency, a pledge he renewed at Saturday’s rally. While Dollar dominance has lessened in recent decades, the US currency still accounted for 59% of official FX reserves in Q1 2024, w/Euro 2nd at almost 20%. Source: Bloomberg, HolgerZ
US ELECTION UPDATE >>> Donald Trump is now leading Kamala Harris by 5 percentage points in 2024 election odds, according to Polymarket's prediction markets.
Just one month ago, Harris was leading Trump by 10 percentage points on the same platform. The election is 2 months out. Source: The Kobeissi Letter
BREAKING: The right-wing AfD and the anti-woke BSW emerge as clear winners in the German state elections of Saxony and Thuringia, while the globalist government parties suffer a crushing defeat.
Source: Dr. Simon Goddek on X
Protests in China are on the rise due to the housing crisis and the slowing economy
Source : Bloomberg
Stock buyback tax would quadruple under Democrats' plan
Source: MarketWatch
GERMAN MP: UKRAINE MUST PAY FOR DAMAGE TO NORD STREAM PIPELINES
Some major changes on Germany-Ukraine relationships took place over the recent days... Last week, Germany said it has frozen its military aid to Ukraine, claiming that a domestic budgetary crisis means it can no longer afford to supply Kyiv with new weapons. Olaf Scholz, the German chancellor, told his defence minister this month that there would be no money available for further military aid, according to a new report in the Frankfurter Allgemeine newspaper. Today, Alice Weidel has called for Ukraine to compensate Germany for the damage caused to its economy as a result of the attack: “The economic damage to our country caused by the demolition of Nord Stream presumably ordered by Zelensky - and not Putin as we were led to believe - should be "billed" to Ukraine.” Berlin-Kyiv relations were strained after the German Prosecutor General's Office issued an arrest warrant for a Ukrainian suspected of involvement in the pipeline sabotage. Source: Mario Nawfal on X
