Just a few months ago, Brazil’s central bank chief Ilan Goldfajn was finally able to deliver some good news to his fellow citizens. On March 18, 2017, Mr Goldfajn predicted Brazil’s economy would officially emerge from its deepest recession on record, in the first quarter, and reach an annualized growth rate of up to +3% by the fourth quarter of this year. Latin America’s largest economy is estimated to have grown sequentially +0.5% in Q’1; a sign that Brazil was pulling out of its depression.
On April 12th, President Donald Trump said in an interview with The Wall Street Journal that he told Chinese President Xi Jinping – his administration would be willing to be more lenient in a trade deal with China, if Xi helped to contain the nuclear threats from North Korea. “I told him, ‘You know we’re not going to let our trade deficit to go ahead. But if you want to make a great deal, then solve the problem in North Korea. That’s worth having deficits. And that’s worth having not…
With the Bull market on Wall Street entering its ninth year, questions about how much longer the second longest running Bull has yet to run are beginning to swirl. Historically, the average Bull market on Wall Street has lasted 54-months from trough to peak. The current Bull is almost 97-months old. The total market capitalization of the Russell-3,000 index, the broadest measure of the stock market is close to $31-trillion, compared to $10-trillion at its lowest point of the Bear market that ended eight years ago.
As President Donald Trump himself used to say on the campaign trail –
“Politicians are all talk and no action,” and…….
“If you don’t deliver the goods, people will eventually catch on.” – Trump in the Art of the Deal
The gambit was straight out of Trump’s playbook; he told House Republicans that it was now or never to repeal and replace Obamacare and demanded a vote by Friday. No more negotiations….