Despite resolving perhaps not to file a newsletter today there is just enough going on for me to give in and write. But I will avoid the futile exercise in predicting events in 2017. The UK newspapers are full of revelations about the reign of PM Margaret Thatcher, with publication of archives now 25 years old.
My takeaway from them is that Trump is not unique. His policy of cozying up to the Russians turns out to have been considered by PM Thatcher. She too worried so much about German power over Europe that she considered playing Moscow to offset Bonn. Now it would be Berlin, but the strategy is eerily similar. Trumpism has a historic foundation after all. Trump is channeling Thatcher.
The British tendency to jump ship is also evident today with Theresa May lambasting the US Secy of State Kerry's chastisement of Israel over settlements in the West Bank. While the UK PM reiterated that these are illegal under international law, she also said it is not the done thing to criticize the policies of a democratically elected Israel government. She pointed out rightly that the Israeli settlements are hardly the only source of Middle Eastern instability.
Mrs May is inching toward a position closer to that of another democratically elected government, to be headed by Donald Trump after Jan. 20. Perfide Albion strikes again. Mrs May also gains points against the UK opposition party. Labour is excessively cricticizes Israeli sins and ignores Arab ones.
In the wee hours of Dec. 30 in a star Eastern Market Far Away, only a few bleary-eyed forex traders were at work. There the euro and the Swiss franc both rose 1.6% against the US dollar. Doe this herald a trend in 2017 or is it merely a result of very thin markets (by forex standards) on the last half day of trading in the year?
I have no idea. But being an advocate of diversifying your holdings by adding foreign countries and currencies to your portfolios, a weak dollar makes me look smart. I am amazed that Investorplace.com, a website, today selected 10 stocks to make money with in 2017 which includes not one from outside the USA.
More for paid subscribers today from Britain, Israel, Hong Kong, and Mexico.