Trump will spark a war with Iran – which is great news for Isis

President Trump made great play when he came into office with his return of a bust of Winston Churchill to the Oval Office, presenting the move as a symbol of his admiration for adamantine patriotic resolve in pursuit of patriotic ends. Presumably, Trump was thinking of Churchill in 1940, not Churchill in 1915-16 when he […]

These 3 trends will define your future, says Jack Ma (Alibaba)

In a one-on-one interview on the second day of Davos, Alibaba founder Jack Ma gave his take on a wide range of global issues, from the backlash against globalization and the incoming Trump administration, to the prospects of a trade war between China and the US (it will never happen, he said) and the future […]

Trump to Order Dodd-Frank Review, Halt Obama Fiduciary Rule

President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010. Trump also will halt another of former President Barack Obama’s regulations, hated […]

TBTF Face Federal Reserve Stress Tests Assuming Big Global Recession

Wall Street banks will have to show they could survive a major global recession as part of an annual Federal Reserve exercise aimed at ensuring the biggest lenders aren’t vulnerable to a new financial crisis. The stress test scenarios released Friday by the Fed will be used to determine whether firms such as JPMorgan Chase & […]

Petraeus: World order under ‘unprecedented threat’

Retired Gen. David Petraeus warned lawmakers on Wednesday that the world order created in part by the United States in the 20th century is under “unprecedented threat from multiple directions,” pointing to Russia, China, Islamist extremists and cyber threats. Those threats are compounded by an America whose “resolve about its defense has become somewhat ambivalent,” he […]

The Trump effect has rallied US markets – but it’s based on illusion

Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict. In the US, two illusions have been important recently in financial markets. One is the carefully nurtured perception that President-elect Donald Trump […]

First days of Trump era signal America’s deepening political divide

In the blocks surrounding the White House, signs reading “Love Trumps Hate” and “Build Bridges Not Walls” littered the sidewalks on Sunday, the detritus of the Women’s March protesting the policies of President Donald Trump. Both Trump’s supporters and women and men who took part in the massive march against him in Washington on Saturday […]

Davos Glitter in the Gloom of Populism and Trumpism

President-elect Donald Trump has never been invited here. Neither has Nigel Farage, the British politician who led the Brexit campaign. The World Economic Forum — an annual gathering of global policy and business leaders, who come to debate the world’s great challenges — gets underway here Monday night as the shifting political trends toward nationalism […]

Pimco hoards cash to avoid risks after Trump rally: market euphoria will fade

Pimco is battening down the hatches on its biggest bond funds, beefing up cash positions and cutting exposure to risky corporate debt in the expectation that the Trump election market euphoria will fade. The asset management group, one of the biggest bond investors in the world, has been girding itself since late last year for […]

Trump Is Going to Regret Not Having a Grand Strategy

Throughout the presidential campaign and since Donald Trump’s election, former diplomats, retired generals, and foreign-policy analysts have attempted to decipher, explain, and predict his foreign-policy strategy. Will he pursue the big-stick model of Teddy Roosevelt? Embrace a neo-Nixonian “madman” strategy? Is Trump actually a champion of foreign-policy realism, or perhaps no realist at all? But […]