Germany Blinks First In Ongoing European Gas War

Nord Stream 2

 

The U.S. is increasingly finding itself at odds against not only Beijing as Trump executes a sledge hammer approach to ongoing trade disputes with China, but also with Moscow, a potentially more lethal and unpredictable opponent both geopolitically and on the energy front.

Much of Washington’s angst with Russia includes the country’s annexation of Crimea in 2014, it’s meddling in recent U.S. elections, being on opposing sides in the ongoing Syrian Civil War and having differing views over energy security for Europe.

Russia, for its part, with its long-entrenched hold on European gas markets, seeks to solidify its grasp by keeping its gas monopoly largely unchallenged and also by pushing through with Russian energy giant Gazprom’s controversial Nord Stream II gas pipeline project. Continue reading

Deutsche Bank Economist: The Fed Is in Danger of Making a Mistake of Historical Proportions

Please see the source for the video.

 

David Folkerts-Landau, global head of research at Deutsche Bank, says that staying at the zero bound of monetary policy for any longer would be a historic mistake. Continue reading

Dallas Fed Collapses At Fastest Pace Since Lehman, Lowest Since June 2011

Yours truly,

OPEC/Saudi Arabia

 

 

Dallas Fed’s Richard Fisher had his credibility (whatever is left) crushed for the 4th month in a row. After explaining carefully to no lessor status quo glad hand than Steve Liesman that the Texas economy will see a net positive from low oil prices, Dallas Fed data has utterly collapsed – at its fastest pace since Lehman. Printing a stunning -17.5 (over twice as bad as expected -8.5), this is the 4th miss in a row (and increasingly worse misses). Continue reading