The White House sharply rejected any suggestion that Trump’s own words about pulling U.S. troops out of Syria had opened the door for the attack, which killed more than 40 people, including children.
America’s Three Bad Options in Syria (jdargis)
What Americans may be confronting — whether they want to or not — is the reality that some problems can’t be fixed by the sort of low-cost, low-risk solutions to which they grew accustomed in the brief moment of American global hegemony after the Cold War. It feels impossible that something could be beyond easy American resolution, so the problem must be that the president lacks proper will or resolve to see that resolution through.
Risk-Aversion Meets a Hypervalued Market (Alan A.T.)
The chart below presents several valuation measures we find most strongly correlated with actual subsequent S&P 500 total returns in market cycles across history. They are presented as percentage deviations from their historical norms. At the January peak, these measures extended about 200% above (three times) historical norms that we associate with average, run-of-the-mill prospects for long-term market returns. No market cycle in history – not even those of recent decades, nor those associated with low interest rates – has ended without taking our most reliable measures of valuation to less than half of their late-January levels.
Deficits are growing as the Trump administration enacted a tax overhaul this year that will lower federal revenue and Congress approved a roughly $300 billion spending increase. The fresh CBO estimates could heighten investor worries as they weigh the potential impact that tariff threats between the U.S. and China may have on the world economy.
If you didn’t know better, you would think Saudi Arabia is on a path to major reform. However, in the months since the Crown Prince’s appointment, we have seen little reason to believe that his overtures are anything more than a slick PR exercise. In fact, Saudi Arabia retains an atrocious human rights record and the situation has only deteriorated since the Crown Prince was appointed as official heir to the throne in June 2017.
You can actually put a dollar figure on how much we’re worth to the social network. Facebook collected $82 in advertising for each member in North America last year. Across the world, it’s about $20 per member. Facebook the company is valued at about $450 billion because investors believe it will find even more ways to make money from collecting data on its 2 billion members.
To be clear, this data measures “trading” activity, so it includes both buys and sells. But the jump in volume over the past two years shows that that activity is bullish in nature, because prices are rising. Basically, investors have placed more buy orders than sell orders during this period, which pushes prices higher. If more sell orders were initiated, prices would be falling.
A review of a CFPB database obtained by the AP through a Freedom of Information request shows that the bureau issued an average of two to four enforcement actions a month under former Director Richard Cordray, President Obama’s appointee. But the database shows zero enforcement actions have been taken since Nov. 21, 2017, three days before Cordray resigned.
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