HURRIED THROUGH Congress in late 2017, the Tax Cuts and Jobs Act (TCJA) was the biggest overhaul to America’s tax system in more than 30 years. Boosters claimed it would turbocharge investment and growth, generating so much extra taxable income that it would pay for itself. Critics claimed it would shower the rich with tax
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BITCOIN WAS introduced to the world in August 2008, in the aftermath of the financial crisis. According to its techno-libertarian fan-base, one of its main attractions was the promise that users could avoid dealing with the hated banks. But after a decade of amateurism, scams and billions of dollars of lost or stolen money, it
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GERMANY’S EXPORTING prowess is so impressive that other countries seek to import even its policies. France recently passed labour reforms inspired by its neighbour to the east. British politicians periodically try to copy its vocational-training system. Governments far and near have sought to emulate the Mittelstand, its small and mid-size producers. Germany’s knack for producing
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“When it comes to the story of sluggish wage growth, the Groundhog Day we’ve been seeing since June last year has finally changed its tune,” argues ING’s chief international economist, James Knightley. “January saw wage growth finally pick-up for full-time workers, and we don’t expect this to just be a temporary relief.” Key quotes “After the hiring
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OANDA Market Insights podcast (episode 51) Gold prices edge up to pare a weekly loss as global stocks slump GBP/JPY – Is Brexit stopping a breakout? (video) Slow Growth Prospect Sends Oil Prices Down Despite Supply Cuts Gold – Still looking bullish? (video) USD/CAD – Will we see a break lower? (video) Relief rally overextended
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“This week’s growth revisions have underpinned the downside risk to global activity this year,” points out Rabobank’s Senior FX Strategist Jane Foley. Key quotes “Although risky assets have had a good start to the year on the back of the more dovish outlook of the Federal Reserve and (potentially misplaced) optimism regarding a US-China trade deal,
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