As I sit in my Kailyard I wonder often about the future.
The world can be a scary place. As we sit in our doldrums, worried about the future of our country, it can be difficult to understand or comprehend what it must be like elsewhere. Our empathy, at times, can be switched off. This is often because we have been subject to a relentless diet of how we ought to see others, and not as the national bard of Scotland asks us to do – to see ourselves as others see us.
The nationalism of putting our nation first, last and central has been a key theme of the alt-right and the conspiracists as they rail against the global domination. Often, once you get an opportunity to interrogate their views and find they have a dim view of the world, their next step is to claim that global superiority is being imagined and run by people with Jewish sounding surnames which join the glowing whispers of anti-Semitism and racism which we have been told consistently by history is how fascism begins.
7/12/2021 6:15:25 AM GMT
There has been a fair bit of catching up to do after the past week spent outside of the financial market’s matrix. The biggest takeaways appear to be that the US Dollar rally has run its course for now and that the US bond market refuses to taper tantrums. In fact, US bond yields have turned about-face and headed South.
The latter appears to be vexing the minds of inflationists everywhere. As Pantheon Macroeconomics notes, Federal Reserve buying has run ahead of US government issuance in Q2, and the end of the US debt ceiling suspension looms at the end of the month. Throw in a relentless ocean of capital looking for a home in a zero percent world, and the answer to the bond market rally and consequent fall of the US Dollar and rally in stock markets is likely right in front of our faces.
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Or maybe not. On April 30th, Ambassador Katherine Tai, U.S. Trade Representative (USTR), issued the 2021 Special 301 Report. In a press release, the USTR stated that [i]ntellectual property rights incentivize our creators, manufacturers, and innovators to invent new products and technologies. The press release notes that the review period underlying the Report took place during the COVID-19 pandemic, the largest global health crisis in more than a century. Consistent with recent decisions (including support for the proposed WTO IP waiver;
The top priority of the United States is saving lives and ending the pandemic in the United States and around the world. As affirmed in the Doha Declaration on the TRIPS Agreement and Public Health, the United States, while recognizing the role of intellectual property (IP) protection in the development of new medicines, respects a trading partner s right to protect public
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