Epstein Secrets

Gold $1570.70 (+$5.20) Moody's announced its widely anticipated downgrade of 15 global banks after the close last night. No big surprises although Credit Suisse getting cut by 3 notches and MS only getting cut by 2 getting some attention in the press (note CS is still the highest rated IB in the world & a 2

> Prisons, Privatization, NYT r=1> Patronage (Paul Krugman Op-Ed) IMF challenges Berlin's crisis response

1317226982O492.html> WSJ positive: PepsiCo (PEP) WSJ<http://online.wsj.com/article/SB100O1424O5297O2046426045772134503765539O4.html> WSJ cautious: Credit Suisse (CS) WSJ<http://online.wsj.com/article/S8100O1424O5297O204642604577212772586360222.html> Don't Look Now: A Car That Tweets WSJ<http://online.wsj.c

of Those Who Never Saw Lin Coming NYT<http://www.nytimes.com/2012/02/10/nyregion/jeremy-lins-emergence-ignites-scramble-to- retail-his-jersey.html> Paul Krugman: Money and Morals NYT Op- Ed<http://www.nytimes.com/2012/02/10/opinion/krugman-money-and-morals.html> Gannett offers buyouts to 665 NY Post<http://

i's remarks damp Euro WSJ • Peugeeot to book write down WSJ • Ireland's bondage WSJ • Apple told to drop Depression-era attitude' The Times • Credit Suisse to intensify cost-cutting The Times • Sony to profit after five-year slump The Times • Exporters steer clear of Europe The Times • Vodafone joi

er Newspaper Articles & Stories WSJ cautious: Ctrip.com (CTRP) WSJ • Goldman Sachs prepares to deal with Volcker rule WSJ • Kick that Can (Op-Ed Paul Krugman) NYT • DOJ & States weigh action vs Moody's Reuters EFTA00396068 • Draghi move fuels currency war fears FT • Apple under pressure on $137bn c

gree of certainty; historically, productivity forecasts have been notoriously wrong. In The Age of Diminished Expectations,” first published in 1990, Paul Krugman, Nobel laureate in economics and professor at City University of New York, wrote that the lower pace of productivity growth experienced since the ear

ent low productivity growth rates do not portend low growth rates going forward. Just as Hansen was proven wrong on his secular stagnation theory and Krugman was proven wrong on his diminished expectations for the US economy (and they were both influenced by their pessimistic view on productivity), those w

eld Bank Loans Bank Loans Income (IGFI) Less IGFI Return Less IGFI Return Data as of December 31, 2016. Source: Investment Strategy Group, Barclays, Credit Suisse. * Defined as 5-year Treasury yield rising more than 70 basis points over a 3-month period. European Bonds Unlike their US counterparts, European f