The Mess That Greenspan Made

Put a Fork in Him

Didn’t know that former Daily Show regular Samantha Bee had her own late night show, one that debuted last night on TBS, but if this little segment is representative of the work being done there, setting up the DVR to record might be a good idea.

It really is time for Jeb to go, but it’s not really his fault. In another election year, he might have been just what GOP voters want, but not with the mood of the electorate as it is and loud mouthed front-runners offering simple solutions for all their grievances.

Tuesday Morning Links

MUST READS
Investors dump stocks – Reuters
European banks face major cash crunch – CNBC
Global Bond Rally Near `Panic’ Level With Japan Yield Below Zero – Bloomberg
Treasury Yield Curve Flattens To Lowest Since Jan 2008 – Confounded Interest
IEA Raises Estimate of Surplus Oil Supply on Higher OPEC Output – Bloomberg
New Hampshire poised to deny GOP an alternative to Donald Trump – Politico
Trump and Sanders are doing so well because they tap into the same anxiety – Quartz
Hillary Clinton won’t rule out Wall St. Treasury Secretary – CNN/Money
Michael Bloomberg Tells FT He’s Considering Run for President – Bloomberg
Bloomberg run would break up the two-party tyranny – Boston Globe
Why conservatives are attacking Beyoncé – Vox
The Math Revolution – The Atlantic

MARKETS/INVESTING
U.S. stock futures buffeted by global selloff – MarketWatch
Don’t expect oil prices to rise soon, IEA warns – CNN/Money
Nervousness About Global Banking Giants Intensifies – NY Times
Will A Market Selloff Turn Into Worldwide Recession? – ALT-Market
How Bottom-Up Stock Pickers Endure Bear Markets – Reformed Broker
What the ‘Chart of Doom’ is saying about a global recession – MarketWatch
Whiff of Panic? Global Bear-Market Progress Report – Wolf Street
Inflows of gold-backed ETF make biggest jump since 2011 – Reuters
Goldman No Believer in Gold Rally as Fed to Hike Three Times – Bloomberg
Gold bulls keep smiling — metal price pushes past $1,200 mark – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
Three Reasons to Be Worried About the Economy – Mises
The World’s Economy Soared Last Year (or Plunged) – NY Times
Will the Economic Recovery Die of Old Age? – San Francisco Fed
Greek protests escalate over refugee-camp plans – Marketwatch
Abenomics Fails Miserably As Japan’s Workers “Get Nothing” In 2015 – Zero Hedge
Why India’s GDP numbers need to be taken with a generous helping of salt – Quartz
North Korea’s Rocket Launch Could Screw China in a War Against the US – Vice News
The Surprising Problem That’s Holding Back the Housing Market – Fiscal Times
Central Banks Make Global Economy Vulnerable, OECD’s White Says – Bloomberg
5 Questions for Janet Yellen – Bloomberg

 

Echoes of the 2008 Financial Crisis

I’d have titled this “Explaining the 2008 financial crisis in one commercial”, as one individual in this article at CNN/Money characterized the QuickenLoans Super Bowl commercial below that makes us all think of ten years ago, but that title was too long to fit.

I mean … nice commercial and everything, but QuickenLoans was one of the worst offenders during the era of mortgage madness, giving the unwashed masses more than enough rope to hang themselves vis-a-vis tapping their home equity and such.

I’m repeatedly amazed to see that they’re still around, given the role they played.

There were these comments too: “Thanks Rocket Mortgage for thinking the ‘08 housing crisis needed a sequel” and “Correct me if i’m wrong, but the last time mortgages were this easy there was some sort of global meltdown, right?”

Monday Morning Links

MUST READS
Peyton Manning has no choice but to retire now – USA Today
Inside One Of The Best Defensive Matchups In Super Bowl History – Five Thirty Eight
Emerging-Market Central Banks Battle Capital Flight – Wall Street Journal
China’s Foreign-Exchange Reserves Decline to $3.23 Trillion – Bloomberg
China’s Tricky Problem With eZubao, Shadow Banking And Financial Repression – Forbes
As world economy flirts with recession, prepare for years of zero interest rates – Telegraph
Expecting the unexpected: Why the oil price keeps surprising us – voxeu
Donald Trump really did try to take an elderly widow’s house – Vox
How Hillary Clinton plans to stop Bernie Sanders’ momentum – Politico
How Christie exposed Rubio as an untrustworthy pretender – The Week
When Stocks Crash and Easy Money Doesn’t Help – Hussman Funds
The Adjustment Cycle – Credit Bubble Bulletin

MARKETS/INVESTING
Dow futures drop 200 points – MarketWatch
Equities: Get ready for dividend cuts – Economist
Dot Com 2.0 – The Sequel Unfolds – Mark St. Cyr
What the Heck is Going On in the Stock Market? – Wolf Street
The Magic Formula That Powered Japanese Stocks Is Falling Apart – Bloomberg
Ponzi Scheme in China Gained Credibility From State Media – NY Times
Holding Back China’s Capital Flight ‘Dam’ Is Key – Bloomberg
Gold hits new 3-month high on global economy concerns – Reuters
Here comes another Venezuela gold fire sale – Mining.com
The Golden Age – Sober Look

ECONOMY/WORLD/HOUSING/BANKING
The World’s Most Famous Case of Deflation – Visual Capitalist
Healthy Economic Growth Is Our Missing Ingredient – Reason.com
Keynes helped us through the crisis – but he’s still out of favour – Guardian
Here’s the strange bad news in the latest jobs report – The Week
British steel sector ‘at risk of impending collapse’ – Telegraph
This Is Why You Can’t Afford a House – The Daily Beast
Yellen to Balance Confidence With Caution – Bloomberg
Our Dysfunctional Monetary System – Forbes
Japan’s Wrong Way Out – Project Syndicate
Negative interest rates – Econbrowser

 

The Elephant Not in the Room

We will find out soon enough if the absence of front-runner Donal Trump at last night’s Republican presidential debate has any impact on his chance of capturing the GOP nomination. Meanwhile, cartoons such as the one below are providing a boost for those already weary of the marathon 2016 presidential election cycle.

From the Dana Summers archive at the Tribune Content Agency.

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