So, what is in the news this Sunday?
President Trump is claiming that the Federal Agencies bugged his phone during the last weeks of the Presidential campaign while the Obama administration. The left/liberal “legacy” media such as CNN and the New York times claim that Trump just made it all up and has no evidence for it at all. The right-wing and “alt” media such as Fox News and the Drudge Report do provide evidence in the shape of concrete statements that the second request for a wiretap which did not include Candidate Trump by name was approved.
What is an ordinary citizen reading or watching the news to make of it all? How did we get to a point where it cannot even be agreed what the facts are, even before we get into commentary? The Western World, especially the U.S.A., seems to have reached a point where there are two types of media reporting not just two interpretations of reality but two alternate realities themselves. It has become a typical situation and today looks like the start of just another week in Trumpland, for want of a better word. We could call it “Obamaland” or maybe simply “socialmedialand” would be the most accurate.
It is also a seemingly typical week in the market, or it has been. One week the U.S. Dollar looks as if it is going up, the next as if it is going down. After experiencing some relative weakness, the greenback strengthened towards the end of last week with comments from FOMC members and Janet Yellen strongly hinting that there would be a U.S. rate hike this month, as well as further rate rises later this year.
Strangely, the only other currency which looked strong at the end of last week was the Euro, but I have no idea why.
