Financial Markets and Economy
Central Banks Will Keep Policies Unchanged — for Now (Bloomberg)
With all the attention being devoted to the policy intentions and actions of President Donald Trump, there has been a lot less focus on this week’s four meetings at systemically important central banks — the Bank of England, the Bank of Japan, the Federal Reserve and the European Central Bank (though that meeting doesn't involve monetary policy).
OPEC Convinces Investors That Its Oil Output Cuts Are Real (Bloomberg)
OPEC appears to have persuaded investors that it’s making good on promised production cuts.
Money managers are the most optimistic on West Texas Intermediate oil prices in at least a decade as the Organization of Petroleum Exporting Countries and other producers reduce crude output.
China’s Cotton Demand Sparks Near-Record Bull Bet for Hedge Funds (Bloomberg)
Chinese buyers have committed to purchasing almost five times more American cotton than at this time last year, the U.S. government said in a report this month. The price of the commodity is heading for its biggest monthly advance since July.
Foreign Workers in Japan Surpass 1 Million for First Time (Bloomberg)
More than a million foreign workers were registered in Japan as of last October, a new record and a 19 percent increase on the previous year.
Truth is, someone's going to lose big in Trump's economy — but no one thinks it's them (Business Insider)
Steve Wynn sounds jubilant these days.
On Thursday, the Las Vegas casino billionaire gave his quarterly address to shareholders of Wynn Entertainment.
The Rally’s Next Test: Can Earnings Keep Up With Stock Prices? (The Wall Street Journal)
A slew of corporate earnings this week along with signals about the health of the broader economy will help determine whether U.S. stock markets can sustain recent gains that pushed them into record territory.
Global Economy Week Ahead: Fed and Bank of England Meetings, U.S. Jobs Report (The Wall Street Journal)
The week brings a full slate of economic data on the U.S. and Europe. In the U.S., the highlight will be the release of the first jobs report under President Donald Trump, who has criticized how the Labor Department calculates the unemployment rate.
Solar Employs More People In U.S. Electricity Generation Than Oil, Coal And Gas Combined (Forbes)
In the United States, more people were employed in solar power last year than in generating electricity through coal, gas and oil energy combined.
Japan Is a Gambling Hotspot Even Before Casinos (Bloomberg)
Even before Shinzo Abe’s government opened the door to potential casino development in Japan, the nation’s gamblers wagered 23.3 trillion yen ($203 billion) on Pachinko and slot machines in 2015.
For a long time now I've held the theory that you have to be completely insane to be a successful investor. Like, right out of your tree.
Renegotiating NAFTA Is A Good Idea – For Mexico (Forbes)
President Trump is not happy with the North American Free Trade Association (NAFTA). During the Presidential campaign, he described it as the 'worst trade agreement the U.S. ever signed'.
Trump's first week spells trouble for auto industry (USA Today)
In a single week, President Trump 's assertion of his more protectionist "America First" trade policy already holds massive implications for the auto industry.
Trump's Presidency 'Unlikely' To Be Best For U.S. Stocks Despite Opportunities (Forbes)
U.S. equities are "unlikely to perform better" during Donald Trump’s tenure as 45th President than under many of his predecessors, according to analysis conducted by one of Europe’s leading ETF product providers.
Trust in Core Social Institutions Has Collapsed (True Economics)
The latest Edelman Trust Barometer for 2017 shows comprehensive collapse in trust around the world in 4 key institutions of any society: the Government (aka, the State), the NGOs (including international organizations), the Media (predominantly, the so-called mainstream media, or established print, TV and radio networks) and the Businesses (heavily dominated by the multinational and larger private and public corporates).
Things Just Got Serious in Europe’s War on Cash (Naked Capitalism)
The central authorities in Europe just launched their most important offensive to date in their multiyear War on Cash. The new move comes directly from the European Union’s executive branch, the European Commission, which just announced its intention to “explore the relevance of potential upper limits to cash payments,” with a view to implementing cross-regional measures in 2018.
U.S. Consumer Spending Rose in December by Most in Three Months (Bloomberg)
U.S. consumer purchases climbed in December by the most in three months as incomes picked up, signaling a strong hand-off into 2017.
First Big Shock For Wall Street: Republicans Warn No Trump Tax Reform Until Spring 2018 (Zero Hedge)
When it comes to Wall Street, Trump can launch martial law, suspend habeas corpus and/or use the Constitution for kindling and the market could care less as stocks will still go up.
How Long Can China's Debt Continue To Grow Before A Systemic Crisis Strikes? (Zero Hedge)
Nearly three years ago, Morgan Stanley may have jumped the shark (a little) when its strategists Cyril Moulle-Berteaux and Sergei Parmenov declared that China's Minsky Moment has arrived.
Companies
Boeing machinists in South Carolina to vote in February on unionizing (Reuters)
Boeing Co (BA.N) and its largest union said on Friday they had agreed on a February date for a union vote at Boeing's jetliner factory in South Carolina, setting up what is likely to be a fresh battle between the union and the world's biggest plane maker.
Starbucks Rips Trump Policies, Vows To Hire 10,000 Refugees (The Huffington Post)
Facing foreigners’ mounting fury toward the U.S. and American companies, Starbucks has issued a pledge to hire 10,000 refugees around the world over the next five years.
Toyota sold 10.2 million vehicles worldwide, fewer than VW (Associated Press)
Toyota has relinquished the title of the world's biggest automaker, reporting Monday that it sold 10.175 million vehicles worldwide in 2016, fewer than Volkswagen's 10.31 million.
3 Reasons to Buy Pfizer Stock and Never Sell (Fool.com)
Buy and hold really hasn't been great advice in the past when it comes to owning Pfizer (NYSE: PFE) stock. Although the big drugmaker's stock has posted decent gains over the last six years, Pfizer's share price still hasn't regained where it was in 2000.
Tesla Isn't the Only Automaker Getting Close to Full Automation (Inverse)
Tesla Autopilot is probably the most famous self-driving system in the world, but according to the publisher of Kelley Blue Book, the auto industry’s unofficial Bible of vehicle worth, Elon Musk’s company isn’t the only one with autonomous technology up its sleeve.
The retreat of the global company (The Economist)
IT WAS as though the world had a new appetite. A Kentucky Fried Chicken (KFC) outlet opened near Tiananmen Square in 1987. In 1990 a McDonald’s sprang up in Pushkin Square, flipping burgers for 30,000 Muscovites on its first day.
Technology
With supplies tight, memory chipmakers head into ultra-super-cycle (Reuters)
The global memory chip industry is heading into what's been dubbed an ultra-super-cycle, as the challenge of making chips smaller yet more efficient has created supply bottlenecks, while there is soaring demand for data storage – from smartphones and artificial intelligence to autonomous driving and the Internet of Things.
4 Models for Using AI to Make Decisions (Harvard Business Review)
Charismatic CEOs enjoy leading and inspiring people, so they don’t like delegating critical business decisions to smart algorithms. Who wants clever code bossing them around? But that future’s already arrived.
AI tracks your every move and tells your boss if you’re slacking (New Scientist)
Companies are increasingly using technology to monitor employees in the workplace, with artificial intelligence making it possible to track individuals’ behaviour in great detail. Start to slack off, or show signs of going rogue, and an algorithm could tattle to your boss.
Politics
Trump Era May Mean Fireworks on Fed Days Despite Better Guidance (Bloomberg)
U.S. Federal Reserve officials were on a roll communicating their intentions to financial markets until December, when even a well-advertised interest-rate hike triggered a big sell-off in the bond market.
House Republicans and Democrats Represent Divergent Americas (The Atlantic)
Across lines of race, education, age, and geography, Democrats and Republicans in the House of Representatives increasingly represent two distinct nations, with strikingly little crossover.
Reince Priebus Defends Holocaust Statement That Failed to Mention Jews (NY Times)
Amid protests and legal challenges over President Trump’s immigration order, the White House also found itself on the defensive this weekend about a normally routine statement about International Holocaust Remembrance Day that drew criticism and scorn.
US-China war increasingly a 'reality,' Chinese army official says (CNBC)
China is preparing for a potential military clash with the United States, according to an article on the Chinese army's website.
From Margaret Sanger to Mike Pence: A century of progress — and backsliding — for Planned Parenthood and the right to chooseOne hundred years ago — on Jan. 29, 1917 — Margaret Sanger, the founder of Planned Parenthood, went on trial in New York for distributing birth control information and devices.
Thousands Flood Cities’ Streets to Protest Donald Trump’s Immigration Ban (The Wall Street Journal)
Thousands gathered in New York and Washington on Sunday afternoon to protest President Trump’s executive order temporarily banning some foreign nationals and Syrian refugees from traveling to the U.S.
Trump wants to enlist local police in immigration crackdown (Associated Press)
To build his highly touted deportation force, President Donald Trump is reviving a long-standing program that deputizes local officers to enforce federal immigration law.
Trump’s Executive Orders Were Brought to You by Breitbart (NY Magazine)
Donald Trump began his presidency with a blitzkrieg of delusional lies and reactionary edicts. As the president’s mouth laid waste to the concept of objective truth — and his pen tore through Obamacare, abortion rights, sanctuary cities, environmental protection, the fragile hopes of refugees, and, quite possibly, the United Nations — liberals stared slack-jawed at their screens, wishing this was all just some nightmarish reality show.
Kellyanne Conway: The Media Failed; When Will People Be Fired? (Real Clear Politics)
Trump administration adviser Kellyanne Conway joins FNC's Chris Wallace to clear the air about Team Trump's feud with the mainstream media.
White House discussing asking foreign visitors for social media info and cell phone contacts (CNN)
Amid the chaos and confusion of President Donald Trump's new executive order on immigration and refugees, sources tell CNN that White House policy director Stephen Miller spoke with officials of the State Department, Customs and Border Patrol, Department of Homeland Security and others to tell them that the President is deeply committed to the executive order and the public is firmly behind it — urging them not to get distracted by what he described as hysterical voices on TV.
Meet the 3 white men on Trump’s reported shortlist for the Supreme Court (Think Progress)
“I am looking to appoint judges very much in the mold of Justice Scalia,” President Trump said while he was still a candidate. He says that he’s partnered with conservative groups like the Heritage Foundation and the Federalist Society to identify such a judge to place on the Supreme Court.
Four federal judges issue orders blocking parts of Trump’s executive order on immigration (The Washington Post)
President Trump issued an executive order late Friday afternoon that, as the New York Times summarizes, “suspended entry of all refugees to the United States for 120 days, barred Syrian refugees indefinitely, and blocked entry into the United States for 90 days for citizens of seven predominantly Muslim countries: Iran, Iraq, Libya,
Trump Is STILL Calling Obama – CONAN on TBS (Team Coco)
President Trump has assumed control of the drones, and is using them to watch Barack Obama golf.
Bill Gates warns against denying climate change (USA Today)
Bill Gates warned against denying climate change and pushed for more innovation in clean energy, during an event Friday at Columbia University in New York.
Johns Hopkins’ Top Psychologist Releases Terrifying Diagnosis of President Trump (US Uncut)
One of the nation’s top psychologists just broke one of his profession’s ethics rules to give President Donald Trump a professional diagnosis.
Health and Biotech
Treating Addiction with Psychedelics (Scientific American)
The psychedelic drug ibogaine is known for two things: its reputation in some circles as a panacea for addiction and the visceral hallucinations it induces. Positive anecdotes abound from people who have sought out the illegal drug at underground clinics.
These artificial cells are not alive – but they just passed the Turing test (Science Alert)
Scientists have built artificial cells that are so life-like, they've tricked natural cells into thinking they're communicating with one of their own.
Life on the Home Planet
Quebec Mosque Shooting Kills at Least 6, and 2 Suspects Are Arrested (NY Times)
Gunmen opened fire in a mosque in the city of Quebec on Sunday night, killing six people and wounding eight others in what Prime Minister Justin Trudeau called a “terrorist attack on Muslims.”
Who needs asteroids? Earth makes its own water deep within the mantle (Science Alert)
Life on Earth depends on the existence of water, but despite it covering some 70 percent of the planet's surface, scientists have never really been sure where it all comes from.
London Just Set a New Modern Pollution Record (Bloomberg)
London isn’t called the “Big Smoke” for nothing.
The city’s poor air quality set a modern record during this week’s spate of pollution that occurred when cold, windless weather trapped emissions over the capital.
Yellow fever outbreak is killing off rare monkeys in Brazil (New Scientist)
Rare monkeys in the forests of Brazil are being decimated by yellow fever.
The outbreak started in late 2016 and, as is often the case in South America, it has spread to humans, killing at least 50 since the start of 2017. The authorities have rushed vaccines to hospitals, where long queues await inoculation.
In America’s Heartland, Discussing Climate Change Without Saying ‘Climate Change’ (NY Times)
Doug Palen, a fourth-generation grain farmer on Kansas’ wind-swept plains, is in the business of understanding the climate. Since 2012, he has choked through the harshest drought to hit the Great Plains in a century, punctuated by freakish snowstorms and suffocating gales of dust.
