Date of publication: 2017-08-31 19:43
What about energy? Natural gas and such? Well, the USSA's sanctions game with Russia has as its unstated and hidden goal the sale of energy to Europe, a nice way to keep those pesky Frenchmen and Germans under the American thumb. The problem there is, it's more expensive than getting it from Russia, and the Germans are, understandably, not too happy about that. Even Frau Merkel woke up from her multicultural slumber long enough to tell her lackey, Mr. Junker, to express some profound displeasure. Go back to sleep now, Angela. All is well, Europe continues to crumble.
My good friend David Rosenberg, Chief Economist at Gluskin Sheff, has long been one of the biggest draws at my annual Strategic Investment Conference. I had always taken him for a &ldquo permabear.&rdquo Then three years ago, Dave shocked us by announcing in no uncertain terms &ndash in his usual fire-hose delivery of hard data and brilliant analysis &ndash that he had turned decidedly bullish. His call was of course spot on.
OWERRI is predominantly inhabited by the Igbo penpIe. The Igbos are renowned for their music and dancing, especially the colorful masquerades in which the dancers wear elaborate masks. Places of interest include an amusement park, the Nekede Botanical and Gardens, the Palm Beach Tourist Village at Awomama and the Oguta Lake Holiday Resort, which has recently developed into an international tourist center.
KANO CITY, the oldest major city in Sub Saharan Africa, dates back more than a thousand years. For centuries it was one of the most active commercial centers in West Africa. Today, it is Nigeria's third largest city and the largest city in the north. Centrally located, Kano City acts as a terminus for all of northern Nigeria, linked by road and communications with all other major population centers in the region. By virtue of its historic role as trading center between the Sahara, down south to Zaria, Kano remains a living, modern day relic of a rich past.
This week your Outside the Box is from my friend Ben Hunt, who writes his letter under the title Epsilon Theory. This edition is a little darker than usual, and certainly more of a think piece. A central argument that Ben makes in Epsilon Theory is that it is Narrative that is the driver of politics, economics, and social interaction generally. The Narrative is what we all (mostly) believe and act upon. Investors generally believe that quantitative easing is going to result in a rising stock.
(I would add civilian aircraft primarily Boeing as one of the gems of American exports. So, in line with the above, it is not surprising to see a 8766 subjugated 8767 Congress sabotaging export sales by shutting-down the Export–Import Bank of the United States responsible for leveling the sales playing-field through offering equivalent interest rates as overseas sources. Even if EXIM is resurrected, overseas buyers may now shy-away from an uncertain capital-source in their planning. Well done, Congress )
It should come as no surprise that credit spreads are shrinking between what in theory are risk-free investments and other investments. Retirees and other investors are reaching farther and farther for yield, piling into all sorts of increasingly risky investments.
Nigeria lies entirely within the tropics yet there are wide climactic variations. In general, there are two seasons, dry and wet, throughout Nigeria. Near the coast, the seasons are less sharply defined. Temperatures of over 95°F are common in the north, but near the coast, where the humidity is higher, temperatures seldom climb above that mark. Inland, around the two great rivers, the wet season lasts from April-Oct. and the dry season from Nov.-March. Temperatures are highest from Feb-April in the south and MarchJune in the north they're lowest in July and Aug. over most of the country.