Germany's Tax Revenue Collapse Signals Fiscal And Industrial Breakdown

Germany's Debt Spiral Warning Ignored As Berlin Doubles Down On Spending Submitted by Thomas Kolbe Finance Minister Lars Klingbeil is a sensitive character. Such personalities tend to react irrationally and extremely defensively to criticism. They are prone to resentment and quick retaliatory reflexes. So it was only a matter of time before the Federal Court of Auditors, too, felt the cold anger of the thin-skinned Social Democrat. Late last year, criticism from the auditors was promptly followed by a budget cut imposed by the Finance Ministry. The move was meant as a...

US Initial Jobless Claims Jump To 4-Month-Highs The number of Americans filing for unemployment benefits for the first time jumped to 229k last week (more than the 220k expected) and the highest in four months... Source: Bloomberg Pennsylvania, California, and Minnesota are the states seeing the largest rise in claims last week... Continuing jobless claims also rose last week to 1.795mm Americans - highest in two months, but still relatively low in the context of the last two years... Source: Bloomberg The bottom line is that while initial jobless claims are rising, they remain low...

Iranian media reported on Monday that the attack on oil facilities in the UAE’s port of Fujairah was the result of US “adventurism” in the Strait of Hormuz. “Iran had no pre-planned intention to attack the Fujairah oil facilities,” an Iranian military official told the Iranian broadcaster IRIB. “The incident resulted from US military adventurism […]