Monday, September 25, 2017

Today's Headlines

  • North Korea Claims Right to Down U.S. Jets Outside Airspace. (video) North Korea can shoot down U.S. strategic warplanes in international airspace as part of its right to self-defense under the United Nations charter, Foreign Minister Ri Yong Ho said in New York as tensions between the nations remain high. “The UN Charter acknowledges member states’ right of self-defense,” Ri said outside a hotel near the international body’s headquarters on Monday. “As the United States has declared a war, even though its strategic bombers don’t cross our border, we will come to own all rights to respond for self-defense including shooting down its planes at any time.”
  • Draghi Pledges Euro Area Will Get All the ECB Support It Needs. (video) Mario Draghi said the European Central Bank will keep as much stimulus as the euro-area economy needs when policy makers decide to adjust their 2.3 trillion-euro ($2.7 trillion) bond-buying program later this year. Speaking in Brussels on Monday, the ECB President pointed to uncertainties about the medium-term outlook for inflation as he presented an upbeat picture of economic recovery after 17 consecutive quarters of growth and unemployment at the lowest level in eight years. He stressed there was no pre-set size for the central bank’s balance sheet, which depended on the instruments the central bank was using and the state of the economy.
  • Cash Is in Short Supply in Storm-Ravaged Puerto Rico. (video) In post-hurricane San Juan on Monday, commerce picked up ever so slightly. With a little effort, you could get the basics and sometimes more: diapers, medicine, or even a gourmet hamburger smothered in fried onions and gorgonzola cheese. But almost impossible to find was a place that accepted credit cards.
Wall Street Journal:
Zero Hedge:

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