Archive for July 10th, 2017

“Hello darkness, my old friendI’ve come to talk with you againBecause a vision softly creepingLeft its seeds while I was sleepingAnd the vision that was planted in my brainStill remainsWithin the sound of silence”
–Simon and Garfunkel, “The Sound of Silence”
At a time in which valuations are stretched, the base case is becoming vague and hard to predict as there is the emergence of numerous and uncertain market, economic, geopolitical and political outcomes.
Risk is being underpriced and volatility likely will be on the rise in currencies, bonds and stocks:
The Orange Swan (the…

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World’s No. 2 seller of liquefied natural gas abroad holds so little in reserve, it can’t keep the lights on in Adelaide—a cautionary tale for the U.S.

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<p>At Amazon headquarters here, two floors of conference rooms are outfitted as war rooms, the better to absorb the crushing blow of 85 million Prime shoppers feverishly tapping on the best slow cooker deals.</p>

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Donald Trump’s foreign policy, such as it is, rests on a massive and apparently indestructible contradiction. Trump wants the United States to remain the “essential” nation, the best embodiment of Western ideals of freedom and democracy, while at the same time deliberately alienating many of our traditional “allies,” whose support the United States desperately needs. American leadership becomes difficult, if not impossible.
It is hard to straddle this contradiction, because it reflects a basic misunderstanding of the American “greatness” that Trump so avidly pursues. To Trump, this greatness…

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