300 billion euros going to the stoxx 600 yesterday, before coming back down. Lets have a look at whats happening in terms of some of our search for safety. This is the dollar rising versus the yen. This helps power through some of the japanese us stocks. That particular haven seems to be somewhat out. Gold, too, coming out o. There doesnt seem to be a rush for that haven, even though we are seeing it selloff. I want to show you whats happening in commodities. Copper is once again trading lower. Check out the miners, a number lower this morning as china pays the price of not enough stimulus coming from the pboc. Copper is off by 1. 3 , oil trading a little bit higher, up 7 10 of a percent. Lets have a look at whats happening in terms of bond market. Yields rise for u. S. Debt. Vogue. T haven in meanwhile, costs coming up for germany. Update,a daily regular down by some seven basis points. Buttoo much concern, remember, not many are buying a liquidity. Lets have a look at what we can see
Of energy. Will he get his weight . Way . Thats what you need to know. Fed decision. Bloombergs Michael Mckee. The lead line today, the fed finally nails Economic Projections except the one that matters, rate hikes. Inflation. What does it mean . Michael it may be the fed last hurrah. Wall street moves from the tempo to the capital and fiscal policy. The fed is going to be moving from what are you going to do in reaction to the economy to what are you going to do in reaction to fiscal policy . Where itmeeting about is. With a chart of inflation and unemployment as a are converging to where they said they would be. It is time to raise rates. That is why you do not see arguments from the market. What do they do is donald trump gets Infrastructure Spending and tax cuts through and the economy heats up . That is an open question. I have one other chart i want to show you. Monetary policy, even if the fed moves, very, very loose. Monetary conditions index is moving slowly, real rates are ne
That too kind introduction. I am happy to be back here. I thought i might not go home. I know when you do this kind of lecture, it is customary to warm the audience up with a few funny stories. If i had known 14 months ago i was coming back, i would not have told you all of my funny stories. [laughter] it is probably best that we move forward with our talk about liliuokalani. I am anglo. Actually i am partly cherokee native, but i am in mainland writer, so the times i will have to speak in hawaiian, it is sick. We will talk about the hawaiian language. The first thing i need to do is make some disclaimer of utility, because captive paradise is intended to explain the essentials of how the United States, how we got our hands on the place. Reviewsever gotten so such memorable reviews, im used to getting reviews, but what i got from wall street all the way to honolulu magazine were extraordinary, really wonderful reviews, which did not prepare me for the anger i saw in the native independ
So whats the first thing we do . We tax it. We call it earned income. While another category of income called unearned gets a preferential rate. This is a discussion we need to have. Second point, simplification. A few years back we had a Tax Reform Act here, a number of, it was controversial a number of us voted for it, it passed. Before doing that, i decided to run up the road and see someone who lives near where i do, his name is warren buffett. Warren buffett and i have different philosophical approaches on many things, but he was generous to welcome me to his office, we spept about an hour together, and i wanted to get his look at that tax bill and some other things. In an interesting exchange, he turned around to his credenza, pulled out a file, an old file, pulled out a single piece of paper, and said, jeff, do this. Lets do this. Put the tax code on a piece of paper. Simplification. Now, a tax coat in reality cannot always be cut. It has to be optimized. We have to run the gove
Which the history of immigration from Eastern Europe to america between 1846 and 1940. Michael lynch looks at the impact of technology throughout the digital age in the internet of us. And in the end of alchemy, the former governor of the bankf of england argues the development of paper mun aand credit are equally responsible for economic benefits and volatility. Look for these titles in bookstores this coming week and watch for interviews with the authors in the coming weeks on booktv. Welcome to the release of the National Association of scholars new report. I am the president of the fashion National Association of scholars. In 2009, a young man heading for a seaside vacation in mexico picked up an unusual heavy book for beach reading. An 800 page tome on the life of an 18th century immigrant. The story took possession of the man and he emerged from his reading of 2004 Alexander Hamilton which is now the hottest ticket on broadway. The play is widely noted for many things including i