Good morning. Here’s your Early Warning for Monday, 12 February 2018.
President Trump is expected to unveil a $1.5 trillion infrastructure plan today. According to some early reports, the federal government would spend $200 billion, while state and public-private agreements would put up the remaining $1.3 trillion. The president is also sending the 2019 budget proposal to Congress today.
Over the weekend, Israeli jets bombed Iranian targets in Syria and had one jet downed by Syrian fire. This comes as Iranian proxy groups continue to build and fortify a permanent presence in Syria. Israeli leaders have continued to express concern and say that they won’t allow an Iranian buildup in Syria that’s capable of attacking Israel.
The police chief of San Jose, California became the latest official to end a relationship with Immigration and Customs Enforcement (ICE). The row comes as ICE aggressively enforces federal immigration law, which apparently is scaring some San Jose residents.
Bridgewater co-chief investment officer Bob Prince (who runs the world’s largest and most successful hedge fund along with Ray Dalio) says that the market tremors aren’t done. “There had been a lot of complacency built up in markets over a long time, so we don’t think this shakeout will be over in a matter of days. We’ll probably have a much bigger shakeout coming.” Prince is predicting more turbulence in the near future and later this year as the Federal Reserve ramps up Quantitative Tightening in the U.S. economy.
An Army official said that the new Futures Command is currently interviewing candidates for its chief scientist position when the command officially stands up. U.S. Army Futures Command will be tasked with ensuring the Army is prepared with the latest technology, along with modern weapons and thinking, for future conflict.