Epstein Secrets

penly than ever, the extreme-right electorate of Marine Le Pen's National Front, as if he sensed that she might

han ever, the extreme-right electorate of Marine Le Pen's National Front, as if he sensed that she might

asizing the ideological divide between him and Hollande, Sarkozy is also being led to court, more openly than ever, the extreme-right electorate of Marine Le Pen's National Front, as if he sensed that she might not find enough signatures to qualify for a place on the ballot. This strategy may make sense in the

st tendency in Egypt over the last 50 years — the tendency that helps to explain why Egypt has fallen so far behind its peers: South Korea, Taiwan, Malaysia, Brazil, India and China. It is the tendency to look for dignity in all the wrong places — to look for dignity not by building up the capacity of Eg

penly than ever, the extreme-right electorate of Marine Le Pen's National Front, as if he sensed that she might

han ever, the extreme-right electorate of Marine Le Pen's National Front, as if he sensed that she might

asizing the ideological divide between him and Hollande, Sarkozy is also being led to court, more openly than ever, the extreme-right electorate of Marine Le Pen's National Front, as if he sensed that she might not find enough signatures to qualify for a place on the ballot. This strategy may make sense in th

st tendency in Egypt over the last 50 years — the tendency that helps to explain why Egypt has fallen so far behind its peers: South Korea, Taiwan, Malaysia, Brazil, India and China. It is the tendency to look for dignity in all the wrong places — to look for dignity not by building up the capacity of

so as to ensure a degree of deniability, but the disguise is sometimes rather thin. In late 2014, France's far-right National Front party, led by Marine Le Pen, secured a q million loan from a Russian bank with indirect ties to the government in what many interpreted as a bet by Putin on the future of Fre

million loan from a Russian bank with indirect ties to the government in what many interpreted as a bet by Putin on the future of French politics. Le Pen has subsequently spoken favorably of Putin and criticized the sanctions imposed on Russia by the EU.' She has even called for a strategic alliance

us challenger to Putin, was effectively eliminated from the 2018 presidential contest after being convicted in a trumped-up embezzlement case.9 In Malaysia, opposition leader Anwar Ibrahim has twice been convicted and jailed on sodomy charges. Prominent political figures have also been jailed in Belar

d.” The countries with the most long-term economic growth potential are arguably those with young, growing populations—namely, India, Indone- sia and Malaysia. However, these countries have small eq- uity markets that, when combined, do not even equal South Korea's in size. CAPE ratios are lower outside th

will embrace. It is a massive change in sentiment from six months ago when markets were fearing the “anti-European Union” rhetoric of since-defeated Marine Le Pen. Unifying Europe is no easy task, but the best chance appears to be in the hands of a political outsider with pro-business and economic policies tha

European Union” rhetoric of since-defeated Marine Le Pen. Unifying Europe is no easy task, but the best c

ak away from the European Union? In France, for example, upcoming elections in May 2017 are likely to pit Francois Fillon of Les Républicains against Marine Le Pen of the far right Front National. Le Pen has promised a referendum on whether France should stay in the European Union, and, should she win, questions

example, upcoming elections in May 2017 are likely to pit Francois Fillon of Les Républicains against Marine Le Pen of the far right Front National. Le Pen has promised a referendum on whether France should stay in the European Union, and, should she win, questions about the viability of the Eurozone wil

urce: Investment Strategy Group, Emerging Advisors Group, Goldman Sachs Global Investment Research. both China and the US, such as Korea, Taiwan and Malaysia, would be particularly vulnerable. While the net effect of these competing forces is positive in our base case, the risks are tilted to the downside

rate cut. The risk to this view is if tail risk scenarios unfold in European politics, such as an early election in Italy with Five Star winning, or Le Pen wining the second round in the French elections. Although we expect markets to be more concerned about European politics following the US elections,

ut it earlier if Renzi loses the referendum. The 2017 French election is another concern. President of the far-right party and presidential candidate Marine Le Pen is ahead in the polls to win the first round. Winning the second round is much more difficult, as she will need more than 50% of the votes, but inves

ents to rotate without too much disruption. We would expect China’s inclusion to account for 10% of the JPM GBI-EM Global Diversified index. Turkey, Malaysia, S. Africa, and Thailand would lose the largest shares in the index, while the shares of Brazil, Mexico, Poland and Indonesia are expected to remain

erious challenger to Putin, was effectively eliminated from the 2018 presidential contest after being convicted in a trumped-up embezzlement case.? n Malaysia, opposition leader Anwar Ibrahim has twice been convicted and jailed on sodomy charges. Prominent political figures have also been jailed in Belarus,

ed so as to ensure a degree of deniability, but the disguise is sometimes rather thin. In late 2014, France's far-right National Front party, led by Marine Le Pen, secured a €9 million loan from a Russian bank with indirect ties to the government in what many interpreted as a bet by Putin on the future of Frenc

€9 million loan from a Russian bank with indirect ties to the government in what many interpreted as a bet by Putin on the future of French politics. Le Pen has subsequently spoken favorably of Putin and criticized the sanctions imposed on Russia by the EU.' She has even called for a strategic alliance wi