en-US MACQUARIE: Capitalism is dead and finance has become a #039;poison#039; — and there are 3 ways this era will end "Investors are unlikely to see a return to conventional capitalism," Macquarie global analyst Victor Shvets said in a note to clients. Countries started to borrow heavily in the 1980s to counter declining growth and productivity rates, halting traditional business cycles.  As a result, there has been "no clearance of past excesses," leading to an unequal society, confusion among investors and the potential for a destabilizing war. Capitalism, as it is described in textbooks, is dead, according to Victor Shvets, global strategist at Australian investment bank Macquarie. The traditional business cycle that characterised post-World War II capitalism until the 1980s has been replaced by ever-increasing debt levels and an abundance of capital and labour.  "The key driver is what we refer to as ‘declining returns on humans and conventional capital’. Value and role of labour inputs (measured in hours worked) and conventional capital (finance, infrastructure, machinery) is declining," Shvets said this month in a note to clients. Shvets said countries have reached the limit of borrowing to maintain their wealth levels. "Only the least financialized societies (representing ~10% of global demand) still have considerable room for further leveraging," he said. "The rest have perhaps already crossed the Rubicon at which finance becomes ‘poison’ rather than a positive boost. Global leverage doubled from ~1.5x GDP in early 1990s to ~3x GDP and leverage continues to climb as societies refuse to adjust capacity and instead insist on trying to grow demand to match excess capacity." On top of this, hidden leverage in the financial sector has rocketed: Meanwhile companies have to change their business models at least every decade to keep up with a world in which the prices are stagnant or falling and new challengers can pop up to take advantage of cheap financing. It's a challenging environment for investors. In the past, most could rest easy by investing in dominant blue-chip companies or maxi mise returns by exploiting predictable cycles.  Shvets said: "In a world of private sector dominance, clear (and relatively predictable) private sector signals and information gaps, there are significant trading opportunities. This is not the world we inhabit." Shvets lists three ways this new era could end. There is one good "ticket out of prison" and two bad options, according to Shvets: 1. Central banks win: The best outcome is a "sustained recovery in private sector productivity" which allows central banks to gradually withdraw financial stimulus and return to normal rates without an asset-price shock. Shvets said the probability of this happening is "low for years to come." 2. Governments take over: If the private sector cannot mop up the supply of capital and labour, then the public sector will have to step in, Shvets said. Policy choices include a universal income, a merger of central banks and treasuries, massive Marshall Plan investments in under-developed countries and boosting education. "Such significant shifts are unlikely until a ‘jolt’ to the system," Shvets said. 3. War: Or, as Shvets describes it, "the destruction of surplus capital and/or labour." This is the more likely but "least pleasant" potential outcome. SEE ALSO: One of the top strategists in the world explains the wave of populism that's sweeping the globe and the role technology has played | Markets Insider DON'T MISS: BUFFETT: There's one 'terrible mistake' long-term investors are making Join the conversation about this story » NOW WATCH: Here’s a great explanation of what the blockchain is from the person tasked with explaining it to the world Sun, 25 2018 13:22:33 GMT A $600 Billion Employee Engagement Problem Solved: Empathy Today’s workforce is experiencing everything from an alarming skilled labor shortage to an increasing lack of employee engagement that concerns every business – no matter if you’re a startup or a Fortune 100 company. Gallup research shows that the average U.S. employee is unengaged at work. Sun, 25 2018 13:00:00 GMT Watch - What Went Wrong After the Maidan #039;Revolution#039; in Ukraine - Is it time to look into the mirror? - Immediately after the controversial over throw of the elected president, many UkeTrollBots have lamented that President Obama was "playing too much golf," to bother with Ukraine. Could Obama and the US have prevented the loss of Crimea and Donbas? Perhaps it is time Uke power brokers look in the mirror. Analysts blame the unchecked corruption and a lack of leadership. "Everyone knew what they didn't want - no one had a foggy idea of what they really wanted - other than to, join the EU." Now, it turns out that the EU really doesn't want the country but is siphoning off the workers by the hundreds of thousands. The brain and land drain is in full swing. Thanks a lot Obama and Brussels. Watch "Revolution for Freedom, didn't bring any Freedom." - Sun, 25 2018 13:25:53 GMT Tokyo 2020 Summer Olympics: Dates, Logo, Location and Schedule As the 2018 Winter Olympics in Pyeongchang, South Korea, come to a close, the focus shifts toward the 2020 Summer Games, which are scheduled to take place in Tokyo. It's the second time Tokyo will serve as the Olympic host, previously welcoming athletes from around the globe in 1964. The motto for the next edition of the Games, which is expected to feature participation from more than 200 countries, is "Discover Tomorrow." Let's check out all of the important information for the 2020 Summer Olympics with just under 29 months until the action gets started in Japan's capital. That's followed by a look at some of the top storylines to monitor in the coming years.                    Key Details Location: Tokyo, Japan Dates: July 24-Aug. 9, 2020 Schedule: Games Plan            Event Logo                Notable Storylines 5 Sports Join Olympic Program Five sports will either debut or return to the Olympics in Tokyo: baseball and softball, karate, skateboarding, sport climbing and surfing. For American viewers, the return of softball will be a welcome sight. Team USA captured the first three gold medals in the event starting at the 1996 Games in Atlanta and won the silver medal in 2008, when Japan rose to the top of the podium. Neither softball nor baseball was contested in 2012 or 2016 before getting reinstated for Tokyo 2020. "For softball and baseball to be added to the Tokyo 2020 Olympic Games program is a dream come true for many athletes across the world," USA Softball executive director Craig Cress said. "USA Softball is proud to be the national governing body for the sport of softball and will continue to work diligently every day to promote our great sport of softball on the world stage." The U.S. should once again be a top contender for gold as the sport returns to the global stage.                 3x3 Basketball Added To Schedule Although it doesn't qualify as a new sport, the inaugural three-on-three basketball competition should provide a more competitive playing field in the basketball discipline, which has been dominated by the United States in both the men's and women's events for decades. The biggest question over the next few years is whether the U.S. and other counties will be able to convince current NBA players to take part in the unique event. From a medal perspective, smaller nations could benefit from trying to use their top players, rather than trying to beat the U.S, in the traditional basketball tourney. In addition, the faster-paced games should have plenty of entertainment value. "Everybody has fun. The players, the audience, they have a really good time, they are surrounded by music, it's in the open air," Serbian star Dusan Bulut told "It's global, it's urban, it's a show." In other words, three-on-three basketball will be to basketball what beach volleyball is to volleyball.                    Usain Bolt, Michael Phelps Leave Void Two of the greatest Olympians in history left the spotlight after the 2016 Olympics, which marked the final appearances for swimmer Michael Phelps and sprinter Usain Bolt. While their presence will be missed after winning a combined 36 medals, their departure presents an opportunity for the next generation of superstars to emerge, athletes who can captivate audiences from every corner of the Earth for the next eight or 12 years. Whether it's somebody like Katie Ledecky, the American swimmer who captured four gold medals in Rio or an athlete still working their way up the ranks with an eye toward making a name for themselves in Tokyo, memorable stories are surely on the horizon. That's what makes the Olympics special. While most sports have league or world championships on a yearly basis, an Olympic gold medal is only available once every four years. It creates a thinner margin for error, making the accomplishments of Phelps and Bolt even more impressive. Sun, 25 2018 12:00:01 GMT Parkland#039;s politics of pain On a day when Parkland began burying its young dead, a dozen people stood on a street corner holding up "More Gun Control" signs as passing drivers honked and shouted in support. "Look what we started," said Carlos Rodriguez, 50, who was on his way to work when he stopped to join the protest last Friday. "Look at all these people. One match started a whole forest fire." This most peaceful and orderly of places has been devastated by the most violent and chaotic of acts. And amid the horse trails, bike paths, and gated communities of a city that prides itself on "country elegance," the response to a shooting last week that killed 17 people at Marjory Stoneman Douglas High School has been a raw, growing, and furious burst of activism and demand for change. Hundreds of people filled the terrace of the Broward County federal courthouse over the weekend, where their echoing chants of "enough" and "not one more" weren't solemn — they were seething. None, perhaps, more so than Emma Gonzalez's. "If the president wants to come up to me and tell me to my face that it was a terrible tragedy and how it should have never happened and maintain telling us that nothing is going to be done about it, I'm going to happily ask him how much money he received from the National Rifle Association," Gonzalez declared. "To every politician who is taking donations from the NRA, shame on you! If you actively do nothing, people will continue to end up dead." In a nearly 10-minute address — her black tank top and tightly cropped haircut barely visible behind podium microphones that stood nearly as tall — Gonzalez slammed by name senators who have proposed softening gun laws. Every few moments, the Stoneman Douglas High senior raised her bracelet-covered right arm to wipe tears from her eyes. In her left hand she clutched her speech, written out by hand on a stack of college-ruled paper. She led the crowd in chants of "No more BS!" Gonzalez was one of half a dozen student speakers at the rally, many of whom noted that despite years of disciplinary issues, Nikolas Cruz, their former classmate who police say has admitted to carrying out the shooting, was able to purchase a gun. "This isn't just a mental health issue!" Gonzalez said, her voice breaking into a scream. "He wouldn't have harmed that many students with a knife!" Grace Solomon, a city commissioner, said there's been a palpable shift in the nature of her community. "We're not a politically charged community — this is new, because we've had enough," Solomon said. "Parkland families have really involved parents; they are not going to take this sitting down," she continued. "We have an army of moms who are tired of having their kids assaulted. Democrats and Republicans are coming together to find common ground we can bring to Tallahassee." Parkland, founded in 1963 on the swampy fringe of the Everglades, has long been a place of gentle ease, with great schools and a well-educated and affluent population of about 32,000 people. It had no stores until the 1990s and still has only four stoplights — including one that just got left-turn arrows in the past couple of months. Its violent-crime rate is a tiny fraction of the statewide rate, and city spokesman Todd DeAngelis said police are more likely to be called for a trespassing alligator than for a murder. Even its politics have a scrupulously fair balance: Although officials said the city, like all of Broward County, tends to lean Democratic, President Donald Trump won one local precinct by 16 points in the 2016 election and narrowly lost four others. But one of the deadliest school shootings in U.S. history has hit this city with a ferocity that has changed the calculation. Every community responds differently to the mass shootings that have become so frequent in the United States. Dancing showgirls and chapel-wedding newlyweds were back in the streets of Las Vegas soon after a gunman sprayed bullets across a music festival in October, signaling a quick return to normalcy. In small-town Texas, a somber religiosity defined the aftermath of a church massacre that killed 26 in November. But Parkland has responded with a call to activism — angry teachers, parents, and teenagers demanding stricter gun laws, more government money for school security, and better treatment for mental illness. "This is going to energize a lot of people to vote this year," said Carl Hiaasen, a best-selling novelist and journalist who grew up in Plantation, just south of Parkland. "People are angry." At a vigil in the palm-lined heart of Parkland, people broke into a spontaneous and enraged chant of "No more guns! No more guns!" Many were students, who are organizing on social media and calling for young people to lead the political charge. Annabel Claprood, 17, was in Spanish class when she looked down at her phone. It was 2:32 p.m. — the moment, she says, she became a lifelong advocate of gun control and new campus safety laws. At that moment, the shooting started. She took shelter in her classroom and heard every shot. "They said every time something like this happens it's not going to happen again, but it's happening again and again, so we obviously are doing something wrong," Claprood said. "You should not have a gun at the age of 18," said Claprood, adding that it makes no sense that at 18 you can buy a gun but not drink alcohol. Florida has relatively few restrictions on gun ownership. Unlike California, for example, Florida does not require background checks for private gun sales. It does not regulate sales of assault-style weapons and large-capacity magazines (although federal law requires assault-weapon buyers from a licensed dealer to be at least 18). State laws also prohibit cities from passing gun restrictions. Ashley Kurth, a culinary-arts teacher at the high school, said her cooking class had just finished deep-frying shrimp when the gunfire began. She quickly locked the doors to her classroom and huddled with 65 students on the floor for two and a half hours until a SWAT team broke a window to rescue them. Less than 24 hours later, Kurth was consoling grieving teachers and students before a vigil at Pine Trails Park, a public recreational facility with turf playing fields, an amphitheater, and high-end playground equipment. Many people arrived on bicycles or golf carts, using the community's winding network of paved paths. Kurth, 34, said she woke up the morning after the shooting wanting to sever her lifelong ties to the Republican Party. The shooting "opened my eyes and changed my views in a lot of ways," she said. "Before, I used to think, 'Okay, let's be moderate.' But living through that, and experiencing that, and seeing the aftermath of what that was, something has to be done." Asked about Trump's response to the shooting, Kurth sighed. "You know, I know he does his best with what he can, but at the same time, I am disheartened a little bit to hear, once again, we are going to focus on the mental illness and getting these people help," she said. "What are you going to do about the people who are sane and out there with their right to bear arms that decide one day they just had enough?" she added. Sarah Lerner, 37, an English teacher, said she believed young people were going to force change on the gun issue. "Whether you are a right-wing Republican or a super-left liberal, we all want the same thing," she said. "No one should be afraid to go to school, and we all want to live in a safe community, and I believe this community is going to unite to make that happen." Beam Furr, the mayor of Broward County, which includes Parkland, said he was eager to give young people a chance to push for new gun legislation. "Those students who were at Douglas, they're good kids, smart students. They don't want this shooting to be their most enduring memory of high school," he said. "Several of them have told me they want the memory to be something that they helped change. To let that be their legacy." Since the shooting, many people in Parkland who never expected to be involved in politics are suddenly finding themselves jumping right in. "I am not a politician. [But] this made me angry. This happened in my backyard. I didn't know how easy it is to get a gun in Florida," said Caesar Figueroa, 43, who had two children at the school during the shooting. They lost a teacher and two friends. "I really want to make a difference," he said, calling for more stringent background checks for gun buyers. "I want to get involved and speak out." Jim Weiss, who has written a book about Parkland's history, said Parkland's activism comes from anger and confusion about how something so horrible could happen in a place so proud of its gentle nature. "People are outraged that something like this could happen in the safest city in Florida," said Weiss, 72. "This puzzle is missing some pieces. You know the way it should look, but you can't find those last pieces. And those pieces are about weapons and dollars for treating mental health." Excerpted from an article that originally appeared in The Washington Post. Reprinted with permission. Sun, 25 2018 10:25:02 GMT Golf roundup: Luke List takes one-shot lead at Honda Classic Luke List can understand why he might be overlooked in the Honda Classic, even with a shot at his first PGA Tour victory. He felt that Saturday while taking the lead. List and Jamie Lovemark were trading birdies and keeping clean cards on the front nine at PGA National before an audience of no... Sun, 25 2018 02:45:00 GMT Trump#039;s Company Settles Golfers#039; Suit for 94 Cents on the Dollar After pledging to fight a $5.77 million judgment against one of his luxury Florida golf clubs, President Donald Trump's company has agreed to pay almost all of it. The Trump National Golf Club in Jupiter will pay $5.44 million to disgruntled former members' to settle a class-action lawsuit, according to a filing Friday in federal court in West Palm Beach. Last year, U.S. District Judge Kenneth Marra ordered the club to return all the membership fees and interest. Trump bragged during the 2016 campaign that he doesn't settle lawsuits, though he's done so frequently, according to court records. The Trump Organization, owner of the golf club, was due to argue its appeal before a federal court in Atlanta in May, according to court records. "This is an exclamation point on a big win," plaintiffs' attorney Brad Edwards said in an email. Sun, 25 2018 01:54:43 GMT Honda Classic 2018: Luke List Holds 1-Stroke Lead After Round 3 Luke List maintained his lead at the 2018 Honda Classic on Saturday after shooting a four-under 66 at PGA National Golf Club in Palm Beach Gardens, Florida. List is seven-under for the tournament, which gives him a one-shot lead over Justin Thomas and Webb Simpson. Thomas and Alex Noren tied for the best round of the day with a five-under 65. Noren is three strokes off the pace in sixth place at four under. Tiger Woods continued his solid play in the tournament as well with a one-under 69, which leaves him seven strokes behind List in a tie for 11th. A bogey on the par-three 17th dropped List into a tie for first, but he rebounded with a birdie on the par-five 18th, and he will enter the final round as the golfer to beat. He will have his hands full when it comes to holding off Thomas, however, as the 2017 PGA Tour Player of the Year found his stride after a disappointing 72 in the second round. Thomas carded six birdies Saturday, including this impressive tee shot and putt combination on No. 17, courtesy of the PGA Tour: Thomas is joined in second by Simpson, who carded a solid four-under 66 in the third round. Per Justin Ray of, recent history suggests one of List, Thomas or Simpson will prevail on Sunday: Some other strong contenders are lurking just a shot or two behind, though, and that includes England's Tommy Fleetwood. He is two shots off the lead at five under, and his three-under 67 on Saturday was aided by a pair of eagles. One of them came at the conclusion of his round on No. 18 thanks to a booming approach shot: Fleetwood also had one double-bogey and one bogey in the round, which suggests he will be something of a wild card in the final round. The same can be said for Jamie Lovemark, who is tied with Fleetwood at five under. Lovemark entered the third round tied atop the leaderboard with List, but his two-under 68 wasn't enough to keep him in that spot. He enjoyed some big moments throughout the round, though, including this chip-in for birdie on No. 12, which temporarily gave him the solo lead: After seemingly playing his way out of contention with a five-over 75 in the second round, Noren bounced back with a five-under 65 on Saturday. He had five birdies and one eagle in the round with the eagle coming after a bomb of a second shot on the par-five 18th: Besides those in and around the lead, the biggest story of the day related to Woods, who shot his first under-par round of the tournament with a 69. As seen in this montage of approach shots, Tiger's iron play was top-notch throughout the round: He struggled a bit down the stretch with bogeys on the 15th and 17th holes, but the 14-time major champion went out on a high note. After a fantastic chip, Woods converted a short birdie putt on No. 18 to enter the clubhouse at even par for the event: According to Ray, it was a banner round for Woods after a few years of struggles and frustration due to injuries: Tiger would need to pull off something monumental Sunday in order to push his way into contention, but he seems to be picking up steam now that he has played in tournaments in consecutive weeks. Although Woods will likely be battling for a top-10 finish, the fight for the win promises to be an entertaining affair Sunday because of the amount of golfers who are firmly in the mix. Thomas and Simpson are major champions, but the 33-year-old List is coming into his own, and he appears ready to score the first win of his PGA Tour career. Sat, 24 2018 23:02:03 GMT Geno Smith appeared to join Kyrie Irving in embracing flat Earth conspiracies, and the internet went nuts Geno Smith appeared to embrace flat Earth theories in a series of tweets on Saturday. Smith took time to retweet arguments from both sides of the debate, encouraging people to question the "truths" laid before them. In the end, Smith walked back his original comments slightly, claiming that the tweets were all in the name of starting conversation. Geno Smith made news on Saturday before the NFL offseason could even start, but it had nothing to do with his future in football. The New York Giants quarterback, like Kyrie Irving before him, appeared to embrace flat Earth theories in a series of tweets, asking his followers not to believe everything that they read and do their own research before rushing to judgment. I been studying this whole flat earth vs globe thing... and I think I may be with Kyrie on this... b4 you judge do some HW but what do you guys think? — Geno (@GenoSmith3) February 24, 2018 I’m not debating on this topic I just want to see the responses.. I think it’s a good conversation. — Geno (@GenoSmith3) February 24, 2018 The conversation was, likely to Smith's dismay, less than good, with many Twitter users predictably dunking on him. Geno Smith’s accuracy on the shape of the earth rivals that of his accuracy throwing a football and I appreciate him so much for it — Jonny Loquasto (@JQuasto) February 24, 2018 Somebody has to send Geno Smith into concussion protocol — Laces Out (@LacesOutShow) February 24, 2018 I couldn't begin to imagine why Geno Smith was trending on this fine Saturday. The reason was more delightful than I could have ever hoped. — Patrick Daugherty (@RotoPat) February 24, 2018 But Smith was not immediately deterred — he thought it was a bit "funny" that people assumed he believed the Earth was flat just because he had suggested as much. I find it funny how you all assume I believe Earth is flat lol I just think you guys should have an open mind because as we know a lot of the “truths” that we thought were true actually aren’t Sat, 24 2018 21:58:18 GMT What Is Curling? Power Plays, Scoring, Rocks and Hammers Every four years, the sport becomes a source of curiosity — and something of an addictive force — for spectators across the globe. Sat, 24 2018 06:40:58 GMT