“I think that the fake Russia collusion narrative is the greatest crime committed against the American people in our generation, if not ever,” Corey Lewandowski said in a testimony before the House Judiciary Committee on Tuesday this week.
Lewandowski became Trumps campaign manager in 2015 and his salary was $20,000 per month. Lewandowskis motto as Trump`s campaign manager was “Let Trump be Trump”, those words appeared on his office white board.
Lewandowski is of Eastern European and French-Canadian descent og he graduated in 1991 from Lowell Catholich High School. He received a master`s degree in political science from American University in Washington, DC, in 1997.
He graduated from the New Hampshire police academy in 2006 and worked from 2006 to 2010 as a seasonal marine patrol officer trainee with the New Hampshire State Police. In 2008, he began working for Americans for Prosperity, a Koch brothers-backed advocacy group.
The Democrats lost the 2016 election and blame on a Russia collusion story. Some crazy people impeached former president Bill Clinton because he had an affair with a women and now they want to impeach president Donald Trump. How much time and taxpayer money are they gonna spend on this?
Mario Draghi started a new round of QE. Again. Last time, he said he had a bazooka, but that bazooka was obviously not powerful enough. He have also previously said that he will do everything he can to boost the market again. In addition to his QE program, he also lowered the deposit interest rate.
You can borrow money in your bank and your bank will pay you money for that. Isn`t that funny? Did someone say something about «free lunch?» You cannot find cheaper money at moment and that will make people borrow more money. The strategy is to boost the economy and create a level of optimism.
In the Euro Area, the ZEW Economic Sentiment Index measures the level of optimism that analysts have about the expected economic developments over the next six months. The optimism isn`t sky high, but it isn`t deeply low either.
The ZEW indicator rose by 21,2 points
in September 2019. It was expectation of -32,2 in September but it
came in at -22,4 this month. The servey covers up to 350 financial
and economic analysts and 47,4 percent of the surveyed analysts
expected no changes in economic activity and 15,1 percent expected it
to improve while 37,5 percent predicted a deterioration in economic
The index reached an all time low of -63,70 in July of 2008. (-100 means all analysts expect the economy to deteriorate). Right before the dot-com-bubble in January of 2000, the index reached an all time high of 89,90.
Norway`s trade surplus plunged NOK 23,8 billion in August this year. All the way down from NOK 30,5 billion to NOK 6,7 billion in the same month the prior year. This is happening in a country that is famous for being «the last Soviet state.» A country were the Communist party is growing in popularity like never before.
But is doesn`t matter, because most of the income is coming from oil and gas. In addition; they have $1 trillion in assets called The Government Pension Fund Global, also known as the Oil Fund. The fund was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector.
The fund have stocks in 9158 different
companies in 73 different countries. Most of the capital is invested
in stocks and some of it in fixed income securities. A small part of
the investments is invested in the real estate market.
The goal is to contribute to the
Therefore, the fund and the country is
dependend on sustainable growth, markets that works well and
Oil prices jumped more than 20 percent on Monday and that`s good news for Norway. The higher the price of oil, the more they earn. 62 percent of Norway`s export comes from Mineral fuels, oils and distillation products.
We all know that these category is on the way out. So, the “new oil” is fish that stands for 9,5 percent of the exports. In other words; this model is fragile.
The biggest trading partner is the
United Kingdom with 22 percent export. Second is Germany with 16
percent. Third; Netherlands at 11 percent, France and Sweden with 6,7
percent. Down on the export list we will fine the U.S at 4,7 percent
and China with 2,1 percent.
Two of the biggest trading partners are
in trouble. United Kingdom with Brexit and Germany near recession. In
addition; we have the trade tension between the U.S and China. As you
can see; a higher oil price came at the right point for the fund as
62 percent of the exports comes from oil.
Brent climbed as much as 20 percent on
Monday and that is the biggest percentage move since 1990 Kuwait
invasion. It jumped up to $71 per barrel in the seconds after the
open, before pulling back about half of the initial surge. That was
equivalent to $12 increase, and that is the largest gain in dollar
terms since 1988. All this is good news for Norway that is dependend
But the Nobel Peace Prize Country need
to wake up, because this won`t last forever. Higher oil prices is
good but that is not enough. The Petro dollar can also be a game
changer in addition to all the electric vehicles that is flooding the
market. Every single EV sold will decrease the demand for oil every
Nor is fish enough. Oil is good
especially if you are in a cartel business. You don`t have much
competition either because oil is very limited in other countries. 70
percent on this planet is water and there are lots of fish in it.
Other countries can start to compete in the fish industry whenever
they want. Fish is not as unique as oil. Competitors can pop up and
take market shares and push the prices down. Like Russia.
Russian aquaculture is planning a new RUB 1,5 billion smolt plant and that will reduce the dependence of Norwegian fry imports. Russian Aquaculture produces around 18,000 tonnes of salmon and trout on the Kola peninsula, the for northwest of Russia. Among the owners of the company are Maksim Vorobyov, the brother of the governor of Moscow.
Russia will triple the production in 11 years. The deputy head of Russia`s Fedral Agency for Fisheries Vasily Solokov has told Tass that the Russian government is drawing up plans to make salmon production account for 37 percent of all aquaculture by 2030.
Some Russian producers are hoping to increase production to cover one third of the country`s entire salmon and trout consumption. A peninsula in northern Russia which is close to key military bases and nuclear submarines is being used to grow the country`s salmon farming regime.
What a day. A very important day for
Europe and the rest of the world. The ECB left its main refinancing
operations rate unchanged and lowered the deposit interest rate by
10bps to -0,5 percent. Not only that; policymakers also approved a
new round of bond purchases at a monthly pace of €20 billion as
from November 1st.
They do this because we have Brexit and trade war with China and the plan is to boost growth. At the same time, the ECB lowered its GDP forecasts to 1,1 percent this year. Inflation expectations were also slashed to 1,2 percent in 2019.
President Trump attacked the FED,
calling Fed Chair Jerome Powell and other members «boneheads» for
not driving the U.S interest rates down to zero, or less. Trump
explained that he wanted negatie rates in order to refinance the
outstanding $22 trillion in government debt and lengthen the term.
Right now, there is a $16 trillion in
negative yielding debt around the globe. What a number! Historically,
negative rates have been used as an anti-recession tool to boost
growth when the economy is weak.
But negative interest rate have now become much more common. Just take a look at the value of the negative-yielding debt over the world. It has shot up to $16 trillion, according to BofA.
If you have your money in your bank, it
means you have to pay your bank to lend them your money. Crazy right?
Normally, you will get paid from the bank if you have your money
there, but with negaive interest rate, it is turned up side down.
Similarly, with government-issued debt,
global investors also pay money to hold a bond with negative yields
because the premium that they initially paid for it exceeds the total
interest they receive over the life of the bond.
Switzerland have negative interest rate
at -0,75 percent. Denmark; -0,65 percent. Sweden; -0,25 percent and
Japan; -0,10 percent.
Other countries in Europe are near
negative interest rate. All these countries have zero interest rate;
Spain, Slovakia, Slovenia, Portugal, Netherlands, Malta, Luxemburg,
Latvia, Italy, Ireland, Greece, Germany, France, Finland, Euro Area,
Estonia, Cyprus, Bulgaria, Belgium and Austria.
In comparison; the U.K have 0,75 percent interest rate and the U.S have 2,25 percent. The U.S lowered the rate for the first time in July for the first time since the financial crisis, as inflation remains subdued amid hightened concerns about the economic outlook and ongoing trade tensions with China.
The U.S economy is good, but the global economy is slowing, notably in Germany and China. There are also growing possibility of a hard Brexit, rising tension in Hong Kong, and dissolution of the Italian government. Fed Chair Jerome Powell have a great challenge.
Porsche is out with a new car. Not an
ordinary car but an EV. Porsche presented its first fully-electric
sports car to the world a week ago. We all know Elon Musk`s Tesla
success but Porsche is the real big electical pioneer where the
electric powertrain is embedded deep in the Porsche DNA.
Ferdinand Porsche, later the founder of
the company of the same name, was fascinated by electicity even as a
teenager. As early as 1893, the 18-year-old installed an elctric
lighting system in his parents house. Over 100 years later, Porsche
is out with the brand new Porsche Taycan.
«The Taycan links our heritage to the
future. It comes forward the success story of our brand – a brand
that has fascinated an thrilled people the world over for more than
70 years,» said Oliver Blume, Chairman of the Executive Board of
Porsche has announced the name of its
first full-electric sports car during the official celebration of the
anniversary «70 years Porsche sports car» – Taycan. The name
translates as «living young horse», referring the center of the
«Our new electric sports car is
athletic and performance-oriented; a car that is capable of longer
distances, and represents freedom», explains Oliver Blume. Here
comes the first electric sports car with the soul of a Porsche, he
The first models in the new series are
the Taycan Turbo S and Taycan Turbo. They are at the cutting edge of
Porsche E-Performance and are among the most powerful production
models that the sports car manufacturer currently has in its product
The Taycan Turbo S accelerates from
zero to 100 km/h in 2,8 seconds and has a range of up to 450
kilometres. The top speed is 260 km/h. The Taycan is also the first
production vehicle with a system voltage of 800 volts instead of
usual 400 volts for electric cars.
This is a particular advantage for
Taycan drivers on the road; in just over five minutes, the battery
can be recharged using direct current (DC) from the high-power
chargin network for a range of up to 100 kilometres.
By 2020, Porsche will have invested more than 6 Billion euros in elctromobility. In other words; there are more to come.
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