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The EU Money Grab

European governments, that already have some of the world’s highest tax rates, are under increasing pressure to raise additional revenues, and believe that American tech giants represent a potential “gold mine.”  The route to increased revenues seems to be following several paths, including, new taxes designed to increase the EU’s share of U.S. tech company […]

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Freedom of the Seas Is Important

Over the last several years we have posted a number of blogs relating to the importance of the “freedom of the seas”, most recently on (17May16) and (25Jan17).  Despite the fact that approximately 80% of the world’s trade volume travels by sea, the international community has largely ignored China’s efforts to exert military control over […]

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“What Fools These Mortals Be.”

This is a line spoken by Puck in Shakespeare’s play, “A Midsummer Night’s Dream.”  Argentina recently announced its ninth sovereign debt default. That Argentina defaulted should not have been a surprise, but that the country had an opportunity to default a ninth time makes one wonder just who lends money to a serial defaulter after […]

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China Has a Bad Debt Problem

China has lent billions to poor countries, and now they can’t pay it back.  Perhaps China should have heeded J. Paul Getty’s observation, “If you owe the bank $100 that’s your problem, if you owe the bank $100 million, that’s the bank’s problem.” China’s global lending spree, which, over the last two decades, showered less […]

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Beware of Government Subsidies

Investors would be well advised to be cautious when evaluating investment opportunities based on government efforts to artificially, and often temporarily, affect consumer behavior. Consider the causes and implications of falling electric vehicles (EV) sales in China, the world’s largest market, accounting for approximately 60% of global output last year. China has been reducing subsidies […]

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The World is Growing More Dangerous?

Francois Delattre, France’s ambassador to the United Nations, as he prepared to return to France, expressed the thought that the world is growing more dangerous.  His concerns are based on the perception that three main safety mechanisms no longer function. No more American power willing to be the last-resort enforcer of international order. No solid […]

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