…own—at higher income levels, this social contract may peter out. For as people become middle class, they gain access to global culture and trends, which prompts a desire for political freedoms to go along with their personal ones. This is why authoritarian capitalism may be just...
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…ern for serious people, not cutting or fine-balancing—Cold War style— the US and Russian nuclear arsenals. The case for global zero hinges on whether embracing that goal contributes to halting the proliferation of nuclear weapons. I worry that the commitment to global zero, and...
258 13 Local, Global and Glocal Knowledge Representation 13.5 Neural Foundations of Learning Now we move from knowledge representation to learning — which is after all nothing but the adaptation of represented knowledge based on stimulus, reinforcement and spontaneous activity....
…s conference tomorrow about today’s events. The last two weeks have been a severe setback for financial markets and the global recovery. 1. Today, Italian equity markets sold off sharply and were eventually shut down after the ECB (for now) rejected being the buyer of last resort...
…ty, significant geopolitical tensions and, in all likelihood, an unconventional US presidency. Since the trough of the global financial crisis, we have consistently emphasized US preeminence and maintained a strategic overweight to US equities relative to global market capitaliz...
…i-Turkish, Arab interests from the Levant to the Persian Gulf. A third, minor thrust was aligning with Jewish interests globally, particularly those interested in the refounding of Israel. Britain had little interest in this goal, but saw such discussions as part of the process o...
… This leads to the question of how to foster deep conceptual blending of diverse and divergent human perspectives, on a global scale. One possible answer is the creation of appropriate Global Brain oriented technologies — but moving away from technologies like Twitter that focus...
…ontrast, we forecast just about 3-5% earnings growth next year. 4 Positive scenario Euro Stoxx (6-month target): 320 ¢ Global economic growth reaccelerates and Eurozone growth shows clear signs of bottoming out, enabling mid-single-digit earnings growth over the next six months....
…. We believe risk premium for a collision course is too low. 7. Sell EUR/GBP - Brexit and Trump could bolster the anti-globalization parties in Europe ahead of key elections next year. 8. Sell Eurozone 30y inflation breakevens — We think investors should take advantage of the r...
…Increased float and earnings the distribution from RA and GMS _ reduced complexity segments Source: BofA Merrill Lynch Global Research « — If comprehensive tax reform includes an elimination of carried interest tax, potentially moving to an ordinary income rate, it could have s...
…ans will perform duringa —_ relatively small so does not credit downturn matter either ways Source: BofA Merrill Lynch Global Research Texas Capital Bancshares (TCBI) C-2-9, Neutral Upbeat on business outlook: TCBI’s President & CEO Keith Cargill, CFO & COO Peter Bartholow, CA...
…= aggregate hours worked (AR, %) SSe2Ze2F8S687Z83323 ——= aggregate hours worked, Jan (AR, %) Source: BofA Merrill Lynch Global Research Source: BofA Merrill Lynch Global Research The Trump risk premium Our informal survey of clients in the past two weeks suggests that stagflati...
…h more unformed worldview which will ultimately take shape around Xi Jinping’s as-yet- deliberately-vague concept of “a global community of common destiny,” which is now the subject of intense work within China’s think tank community, and with the international academic community...
Fig 6. Change in past year allocations by asset class (% citations) i Decrease @ Stay the same Mi Increase Global equity 2013 2014 2015 2016 2017 Home market equity 2013 2014 2015 2016 2017 Global bond 2013 2014 2015 2016 2017 Home market bond 2013 2014 2015 20...
…Soviet deception so long as the NSA kept secret its sources. The NSA did not rely entirely on its own sensors for this global surveillance. It also formed intelligence-sharing alliances with key allies. The most important was with the British code-breaking ser- vice, GCHQ, which...