Reuters (February 8)
“With his ratings down and state funds needed to hedge against new Western sanctions and raise living standards, Russian President Vladimir Putin cannot afford to get sucked into a costly nuclear arms race with the United States.” The tell could be seen after Donald Trump pulled out of the Intermediate-range Nuclear Forces Treaty (INF). Putin indicated Russia would do the same thing, but he “did not up the ante.”
Bloomberg (February 7)
Stock buybacks are under attack in Congress, but the market has already “soured on the strategy. Last year’s trillion-dollar splurge didn’t stop the stock market from falling for the year.” Furthermore, the S&P 500 Buyback Index shows that firms conducting buybacks have been outpaced by the market two years in a row. “With stocks expensive, using shareholders’ money to buy at inflated prices is a bad deal. The buyback phenomenon could die a natural death.”
Tags: Bad deal, Buybacks, Congress, Expensive, Market, S&P 500 Buyback Index, Shareholders, Stock
The Guardian (February 6)
“Donald Tusk should be criticised not for his malice, but his moderation. The European council president triggered a tsunami of confected outrage from leavers today when he observed, with some justice, that there should be a special place in hell for those who promoted Brexit without a plan. But he should have said far more. He should have added that, within that special place, there should be an executive suite of sleepless torment for those politicians who promoted Brexit without ever giving a stuff about Ireland.”
Tags: Brexit, Ireland, Leavers, Malice, Moderation, Outrage, Politicians, Torment, Tusk
Washington Post (February 5)
“President Trump seemed as though he might never yield the podium once he got his chance Tuesday night” to deliver his State of the Union address. “In a speech that reflected endurance if not eloquence, Mr. Trump offered a thin sheen of “unity” over large helpings of the same old polarizing demagoguery,” but at even greater length!
Tags: Demagoguery, Eloquence, Endurance, Length, Polarizing, State of the Union, Trump, Unity
Scientific American (February 4)
“Even if ambitious climate targets are met, Himalayan glaciers could lose a third of their volume.” The Earth’s “third pole” is in danger of largely melting away. “If greenhouse gas emissions continue at their current levels, the region could lose as much as two-thirds of its ice.”
Tags: "Third pole”, Ambitious, Climate targets, Earth, Emissions, GHG, Glaciers, Himalayas, Ice, Melting
New York Times (February 3)
In recent decades, per capita GDP has doubled in the U.S., but “the bulk of the bounty has flowed to the very rich. The middle class has received relative crumbs. If middle-class pay had increased as fast as the economic growth, the average middle-class family would today earn about $15,000 a year more than it does, after taxes and benefits.”
Tags: Benefits, Bounty, Economic growth, GDP, Income inequality, Middle class, Rich, Taxes, U.S.
The Economist (February 2)
“The iron-ore mines in Minas Gerais look like roughshod capitalism let loose.” On Monday, a tailing dam break released “a wave of sludge that may have killed more than 350 people,” making this “one of the worst tailings tragedies in history.” Furthermore, “this is the second such disaster in which” Vale, the mine operator, has been “implicated in just over three years.” This disaster should be a “cause for soul-searching” for Vale and for the global mining industry.
Tags: Capitalism, Disaster, Iron ore, Minas Gerais, Mining industry, Sludge, Soul-searching, Tailing dam, Vale
Reuters (February 1)
“Socialist President Nicolas Maduro is under intense pressure to step down, with Venezuela in deep economic crisis and the government facing widespread international condemnation for elections last year seen as fraudulent.” It appears he is making plans “to sell 29 tonnes of gold held in Caracas to the United Arab Emirates by February in order to provide liquidity for imports of basic goods.”
Tags: Basic goods, Condemnation, Crisis, Elections, Gold, Imports, Liquidity, Maduro, Pressure, Socialist, UAE, Venezuela
Institutional Investor (January 31)
“The outsourced chief investment officer business is having a renaissance. OCIOs were once mainly the domain of sleepy corporate pension plans looking to offload the hassles of portfolio management. Now, outsourcers are running money across the institutional gamut. No in-house CIO running less than a few billion dollars is safe.”
LA Times (January 31)
Though the periodic table may seem “obvious today…it wasn’t to generations of early chemists. One hundred and fifty years ago, “that changed when Dmitri Mendeleev started writing a textbook and pondered ways to group the elements together in order to lighten his load.” The resulting periodic table “has become an icon of science. Its rows and columns provide a tidy way of showcasing the elements — the ingredients that make up the universe.”
