As Amazon drops New York project, Ocasio-Cortez and progressives claim a major coup

U.S. Representative Alexandria Ocasio-Cortez wasted no time on Thursday in calling Amazon’s decision to scrap plans to build a major New York outpost with nearly $3 billion in city and state incentives a big victory for progressive politicians. The democratic socialist congresswoman has become the face of the Democratic Party’s ascendant left wing, thanks in […]

Until the Next Crash

The populist revolt is not against the crash, or even its immediate aftermath, but against the nature of the recovery. “OF THE MAXIMS of orthodox finance,” wrote John Maynard Keynes in 1936, “none, surely, is more anti-social than the fetish of liquidity, the doctrine that it is a positive virtue on the part of investment institutions […]

Top 10 Largest Economies By 2050: China, India, USA and the rest

The United States has been the global economic powerhouse for decades. It has had a significant lead over other economies, but China is rapidly closing the gap with the US. Even though China’s growth rate has slowed in recent years, economists predict its economy will surpass the US in the next few years. Other developed nations such […]

Russia is dumping US dollar from its huge reserves, shifting into euros and yuan

Russia’s central bank dumped $101 billion in U.S. holdings from its huge reserves, shifting into euros and yuan last spring amid a new round of U.S. sanctions. The central bank moved the equivalent of $44 billion each into the European and Chinese currencies in the second quarter, according to a report published on late Wednesday by the […]

An Indian Company Announced 63,000 Job Openings… 19 Million People Applied

In February, the railway system in India announced that it was recruiting for some of the most basic and menial positions in its organizational hierarchy. It was looking for positions like helper, cleaner, track maintainer and rail switchman. It announced 63,000 vacant jobs it was trying to fill. It got 19 million applicants. Those applicants included people […]

It’s Been a Turbulent Year. Emerging Markets Are Waiting For a Better 2019

Emerging markets are rounding off the year with few excuses to keep floundering into 2019. After a turbulent year that threatened to turn into a rout as U.S. monetary conditions tightened and the trade war erupted, markets are finally showing some strength — in part because valuations have fallen so low. While the currencies, stocks and local-currency bonds of developing economies […]

In a new year of economic uncertainty, gold is a bright prospect again

The recent gyrations in the FTSE 100 and the tumbling price of oil may have captured public attention, but in the last four months the FTSE All-Share index has lost 12% of its value and the gold price has jumped 10%. If any two figures really show how nervous traders have become about the new […]

This Is The Worst Year For Hedge Funds Since The Financial Crisis

It’s no secret that most hedge funds have had a particularly difficult year, and now that we have 11 months of data, it’s become clear that 2018 is the industry’s worse year since the global financial crisis. Between investor redemptions and performance-based losses, the hedge fund industry has shed 3.4% of its assets under management so […]

Global stocks sink after Fed hike, bonds rally

NEW YORK (Reuters) – Global equity markets gave up earlier gains and continued a weeklong sell-off on Wednesday after the U.S. Federal Reserve announced a fresh interest rate hike and said “some” further rate hikes would be necessary in the year ahead. The decision, announced at 2 p.m. Eastern time (1900 GMT), slashed more than […]

The London Housing Market Is Worse Than It Looks. Here’s Why

Confused about the state of London property prices? You’re not alone. There’s plenty of evidence that housing is in a rut, but the downturn that began with the priciest homes four years ago has been slow to spread out from the center of the U.K. capital. The market is now facing a number of additional […]