Washington wags are saying that the ‘conservatives’ will insist on budget cuts before agreeing to increase the debt ceiling. But they say that every time the ceiling is raised. And in the end, the ceiling is raised without any real constraints on federal spending.
In today’s Money Morning, we may keep hearing about layoffs, but many industries are still struggling to find workers. We are seeing labour shortages in construction, mining…and clean energy manufacturing, of course. The IEA expects that the cleantech manufacturing industry will grow threefold by 2030 and be worth around US$650 billion a year. So while things are looking shaky in some areas of the economy, there are still plenty of opportunities out there…
In today’s Daily Reckoning Australia, trends come and go and come again…not just in fashion, but also finance. Last decade was an exceptional one for finance. Ultra-low rates meant almost anything you touched made some value. But that era is well and truly over. So, what financial ‘trend’ are we seeing resurface now?
Earlier in the day, we attended mass at St Pierre in Le Dorat. It’s a magnificent church in a charming medieval town. The church is huge…built of heavy grey granite in the 10th century. It has tall columns and soaring arches…and paving stones worn smooth by 30 generations of believers.
In today’s Money Morning, the ASX 200 is up 7% so far in January and is nearing a record high. European shares are rallying. Chinese tech stocks staged a US$700 billion turnaround in recent weeks. What is happening? Is this a rational recovery or irrational exuberance?
Take out the accidents, mistakes, and miscalculations, and not much military history would remain. What was Napoleon’s attack on Moscow if not a giant, boneheaded error? Adolf Hitler might have thought that mechanised transport made it possible for him to succeed where Gustavus Adolphus and Napoleon Bonaparte had failed.
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