Marc Ross Daily
September 3, 2019
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
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Johnson, Argentina, Biden, Bugatti Chiron, Naomi Osaka
✔️ Johnson warns Brexit rebels: I’ll call October general election
✔️ Argentina’s pro-business president pulls a u-turn, imposes capital controls
✔️ Does Joe Biden want to be doing this?
✔️ Bugatti Chiron 1 breaks 300 mph barrier on German test track
✔️ Naomi Osaka loses in the fourth round
Bloomberg Radio: Sound On: Biden and Trump Rhetoric, Tariffs, 2020
Bloomberg Chief Washington Correspondent Kevin Cirilli delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
Guests: Marc Ross, founder of Caracal Global, Louise Schiavone, Journalist and Senior Lecturer at Johns Hopkins University Carey Business School, Ryan Teague Beckwith, Bloomberg News National Political Correspondent.
David Bahnsen, Founder, Managing Partner, and Chief Investment Officer of The Bahnsen Group discussed the recent market plunges and trade war uncertainty.
Listen here: https://bloom.bg/2zH29ci
Reuters: Hurricane Dorian could cost insurers $25 billion: UBS
Trade disputes curb global factory activity as confidence wanes: WSJ reports, the fallout from an escalating trade war between the US and China is rippling through the global economy, crimping growth in Asian industrial giants such as Japan and South Korea and hitting factories as far away from the front line as Germany.
Nikkei: China tariffs backfire on Trump -- and threaten global growth
Japanese and other Asian economies hurt by slowing Chinese exports to US.
NYT: As Trump escalates trade war, US and China move further apart with no end in sight
Struggle to set meeting as tariffs erode trust: Bloomberg reports, Chinese and US officials are struggling to agree on the schedule for a planned meeting this month to continue trade talks.
David Fickling: The trade war is about to hit your pocket. Literally: Goods such as clothing and shoes had been spared from the tariff dispute with China. Not anymore.
Anne Stevenson-Yang: How Trump can win the trade war: It isn’t by cutting rates. That would only give Beijing an economic crutch to support its champions and hurt US companies.
Nikkei: Xinhua warns 'end is coming' for Hong Kong protesters
Chinese state media blasts West for attempting to 'kidnap' the city.
Hong Kong’s Carrie Lam says she would 'quit' if she could: Reuters reports, the embattled Hong Kong leader said she has caused ‘unforgivable havoc’ by igniting the political crisis engulfing the city and would quit if she had a choice, according to an audio recording of her remarks. Lam also said Beijing had no plans to ‘send in’ the army.
Edward Lucas: Hong Kong crisis threatens to spoil Xi’s party: Britain should boycott China’s birthday and stand up to Beijing’s bullying tactics in the former colony and elsewhere.
FT: Johnson threatens to call October 14 election
UK prime minister issues ultimatum over rebel vote in parliament on Brexit.
Britain’s Boris Johnson threatens Brexit rebels with new election: NYT reports, Trying to put the brakes on a financial crisis that has engulfed Argentina in recent weeks, President Mauricio Macri imposed new restrictions on access to foreign currency. The restrictions, which took effect on Monday, are the latest move by a leader who came into office promising to open up the economy but is instead putting in place the types of measures he has long criticized as he heads into October’s presidential election.
UK's Boris Johnson warns lawmakers against blocking no-deal: DW reports, British Prime Minister Boris Johnson has urged his own Conservative MPs not to support an opposition maneuver to block a "no-deal" Brexit. The UK Parliament is set for heated debate when it reconvenes on Tuesday.
The Times: Boris Johnson warns Brexit rebels: I’ll call October general election
Prime minister rules out extension as Remainer MPs seek control of Commons agenda.
UK’s Johnson brandishes election in bid to stop parliament from foiling Brexit: WSJ reports, the chances of an early British general election to resolve a three-year impasse over Brexit appeared to rise on Monday as Prime Minister Boris Johnson launched a broadside at lawmakers seeking to thwart his Brexit plans.
The Times: Weak sterling and no-deal Brexit fears hit factory output
NYT: For Europe, the threat of a no-deal Brexit comes at a bad time
"Germany, Europe’s largest economy, is teetering toward recession as factory orders diminish. Italy is weakening in the face of tumultuous politics that have discouraged investment. The rest of Europe is still growing at a healthy clip, but Germany and Italy alone account for 40 percent of the annual economic output of the eurozone — the 19 countries that share the euro currency."
Italian PM Conte appeals to 5-Star members to back new government: Reuters reports, Prime Minister Giuseppe Conte on Monday urged members of the anti-establishment 5-Star Movement to back a new coalition with the opposition Democratic Party (PD), saying the planned government could transform Italy.
Germany: Berlin reacts to far-right surge in eastern elections: DW reports, the far-right AfD may have come second in regional elections in Saxony and Brandenburg, but Germany's governing parties had been fearing even worse. Now, Berlin is searching for a strategy to deal with the new reality.
The far-right Alternative for Germany continues to make gains after strong showings in two eastern state elections.
FT: Argentine peso strengthens on capital controls
Macri government moves to try to prevent latest debt crisis from spiralling.
Argentina’s pro-business president pulls a u-turn, imposes capital controls: WSJ reports, the president of Argentina is implementing financial-interventionist policies that he once railed against as he confronts market turmoil sparked by a crisis of confidence in his embattled administration.
Argentine peso, bonds whiplashed after capital controls imposed: Reuters reports, Argentine bond prices fell to record lows on Monday and the official and black-market pesos diverged after the country imposed capital controls in a bid to stem a currency rout that is sharpening the risk of default.
North Korea + Trump: NYT reports, as North Korea fired off a series of missiles in recent months — at least 18 since May — Trump has repeatedly dismissed their importance as short-range and “very standard” tests. And although he has conceded “there may be a United Nations violation,” the president says any concerns are overblown.
Mobile sports betting is the moneymaker as more states legalize: WSJ reports, as betting with smartphones has rocketed New Jersey to the front of the pack in the sports-gambling race, limits in other states could hamper the nascent industry’s growth.
Nikkei: China spawns subscriptions for clothes and bikes as sharing evolves
AI and delivery networks foster unique e-commerce services.
Mark Leibovich: Does Joe Biden want to be doing this? On certain days, Biden 2020 can feel more like a dutiful slog than the last march of a happy warrior.
Reuters: Biden seen as weak front-runner as 2020 US Democratic race heats up
Presidential hopefuls face a stubborn problem: How to bump Biden: WP reports, despite the former vice president’s gaffes and criticisms, his support among Democratic voters has remained strong.
Eugene Robinson: It’s still Biden’s race to lose
Democrats can’t afford to leave moderates behind: WSJ reports, as Democrats cruise toward their next debate later this month, some are worried that the party has stopped talking to many of the moderate voters who could prove critical to defeat President Trump in the 2020 election.
Trump’s lost summer: Aides claim victory, but others see incompetence and intolerance: WP reports, privately, many of the president’s advisers and outside allies bemoan what they consider to be a period of missed opportunity and self-sabotage.
Why some labor unions are holding back on 2020 endorsements: NYT reports, Democratic candidates are jockeying for labor support, but union leaders aren’t rushing to endorse. The race is “so fluid,” one said.
House Democrats plan to launch inquiry into Trump’s alleged role in scheme to silence affair accusations: WP reports, the House Judiciary panel is preparing to hold hearings on payments to ex-Playboy model Karen McDougal and adult-film star Stormy Daniels, according to people familiar with the plans.
WSJ: Mattis says he was frank with Trump but never blocked his wishes
Reuters: US to withdraw 5,000 troops from Afghanistan, close bases: US negotiator
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Bugatti Chiron 1 breaks 300 mph barrier on German test track: DW reports, a modified Bugatti Chiron 1 has reached an astronomical 300 mph during a run on Germany's Ehra-Lessien test track. The car was specially built for trial, but is based on a road-legal vehicle costing north of €3 million.
Naomi Osaka loses in the fourth round: Belinda Bencic beat Osaka, the No. 1 seed and defending champion, for the third time this year.
WP: No. 1 seed Novak Djokovic exits US Open in fourth round after retiring vs. Stan Wawrinka
Guardian: Detroit Tigers minor leaguer dies after skateboarding accident aged 27
Chace Numata has died days after being injured in an accident
Catcher, 27, was in his first season with the Tigers organization
Sportswashing: How Saudi Arabia lobbies the US's largest sports bodies: Guardian reports, Saudi Arabia’s relatively sudden interest in sports can be construed as a soft power tactic to help distract from the kingdom’s ongoing human rights abuses and the Yemen crisis.
Enjoy the ride + plan accordingly.