Coming after the deepest recession since the Great Depression, the slow-motion expansion has failed to extinguish the lingering anxiety of consumers and companies scarred by the crisis. That’s led both groups to hold back on their spending, in turn retarding the strength of the upswing.
“It’s been a disappointing expansion, just drifting along,” said Peter Hooper, chief economist for Deutsche Bank Securities Inc. in New York and a former Federal Reserve official. It has, though, been sufficient to reduce joblessness, especially in the U.S., he noted.
A Week Of Bloodshed In America (jdargis)
Thursday night, snipers shot and killed five officers at such a protest in Dallas, Texas. Questions of police brutality, America’s historic racism, the Black Lives Matter movement, and second amendment rights have been pushed to the forefront of the nation’s consciousness.
The numbers make the point. In the 2012 presidential election, Americans between the ages of 29 and 65 split almost evenly, and it is these voters — soccer Moms or middle-age white workers — who get the most media attention. But Obama won by running up a larger margin and turnout among 18 to 29 year olds than Mitt Romney was able to muster with voters 65 and older.
He was once again on the right side of the trade, taking a short position in troubled Deutsche Bank and betting against the S&P via a 2.1-million-share put option on the SPDR S&P 500 ETF.
More interestingly, Soros recently took out a $264 million position in Barrick Gold, whose share price has jumped over 14% since Brexit. Along with this trade, Soros has sold his positions in many of his traditional holdings.
But since Britain’s referendum vote to leave the European Union, latent hostility toward the new arrivals — most of whom came to Boston from Central and Eastern Europe under rules that let European Union citizens live and work anywhere in the bloc — has burst into the open, many immigrants say. Many in the Latvian, Lithuanian, Polish and Romanian communities in the area are anxiously considering whether they should stay in Britain, or whether they even want to.
When Dominic Peacock found out he had been selected for an unpaid summer internship at the National Congress of American Indians here, he looked up the airfare from Albuquerque, rejected the option, and boarded a bus and rode 44 hours.
Now, after a long day thumbing through bills and working for legislation to protect tribal artifacts, he walks a few blocks to a hotel restaurant where he buses tables until 1 a.m. His workweek — 60 to 75 hours long — affords him one day off to catch up on chores in his American University dorm room and explore the city.
Gold & Silver
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