The Mess That Greenspan Made - Part 10

Maybe 1960 is the Outlier…

Much is being made of this Pew Research report indicating that the number one accommodation option for the 18-to-34 year old age group is to live at home – either moving back in after a brief foray into the real world (or college), or, in many cases, never leaving.

But, looking at the graphic below, it seems that we’re just returning to the more traditional patterns with the 1960 sample being the exception, not the rule.

The marriage spike in 1960 is unusual as well – just what was going on in 1960?


Thursday Morning Links

World oil prices back at $50 – CNN/Money
Oil hits $50 a barrel for first time this year – BBC
Japan’s Abe: Commodities signal Lehman-sized meltdown – MarketWatch
Millennials’ Most Common Roommates: Their Parents – Atlantic
It’s Time to Add Alzheimer’s to the List of Global Pandemics – Fiscal Times
Insurers seek hefty rate increases for ACA coverage – Pittsburgh Post Gazette
Texas Immigration Facility to House Transgender Detainees – ABC News
Getting the Libertarians Into Presidential Debates Via Lawsuit –
What the new IG report on Hillary Clinton’s emails actually says – Vox
Police outnumber protesters outside Trump California rally – CSM
Trump’s Swipe at Martinez Alarms GOP – Real Clear Politics
A Four-Way Race for President Is Possible – National Review
Trump, Sanders seemingly agree to debate – Politico

Stocks: 4 things to know before the open – CNN/Money
Secrets of the Dow Jones Industrials – MarketWatch
U.S. Treasuries: What If…? – Value Walk
Memorial Day heats up stocks – for a few days – USA Today
At Swinging Wall Street Parties, the Feds Are Now on the Prowl – Bloomberg
Five reasons the market is ignoring the Fed about rate hikes – MarketWatch
Hedge Funds May Lose 25% of Assets, Blackstone’s James Says – Bloomberg
Gold up on lower dollar, U.S. rate rise views limit gains – Reuters
ETF investors pile in despite worst gold price run in 6 months –
Gold Imports by China Decline as Property Revival Damps Demand – Bloomberg

Growth Surprises Drop With Faster Data Releases – WSJ
Why the global trade slowdown may matter – voxeu
Lending in China Is So Risky That Cows Are Now Collateralized – Bloomberg
The thing that can shatter India’s dream of double-digit growth: rising oil prices – Quartz
A stunning 37% of Japanese millennials expect to work until they die – CNN/Money
Paris Retailers Give Free Meals, Haircuts, and Toothbrushes to the Homeless – Vice News
Housing Madness: 57% of Homes in This U.S. City are Worth $1M+ – Visual Capitalist
Household debt and house prices – mainly macro
The Macro Effects of the Recent Swing in Financial Conditions – New York Fed
The Fed’s Amazing Self-Fulfilling Forecast – Bloomberg


Trump Protest in Albuquerque

In advance of his visit to the Treasure State (i.e., here in Montana), the BBC reports on the latest Trump protest, this one occurring last night in New Mexico.

It’s shaping up to be an interesting summer – as the weather warms (and the national election news coverage heats up), the natives will get even more restless…

Wednesday Morning Links

Is Going Into Finance Good for Society? – The Atlantic
Gundlach: U.S. stock market is ‘dead money’ – Reuters
Mailbu mobile home sells for a record $5.3 million – LA Times
Fired TSA Security Chief Got $90,000 in Bonuses Despite Failures – Vice News
All You Need To Know About The China Boom-Bust Cycle In One Chart – Zero Hedge
10 Years After An Inconvenient Truth, Al Gore May Actually Be Winning – Wired
A Harvard MBA Guy Is Out to Bring Down the Clintons – Wall Street On Parade
How Anti-White Rhetoric Is Fueling White Nationalism – The Federalist
Libertarian Gary Johnson Pulls 10 Percent vs. Trump And Clinton – Five Thirty Eight
Gary Johnson Is Having a Good Day – The Atlantic
Clinton’s new reality: A dogfight with Trump – Politico
The Rough Road Ahead for Trump – WSJ
Why Is Clinton Disliked? – NY Times

Stocks: 5 things to know before the open – CNN/Money
What Investors Should Know About Brexit – ValueWalk
Signs of fear are running rampant through the market – CNBC
Treasuries World’s Worst-Performing Bonds as Fed Turns Hawkish – Bloomberg
China Wants to Set Prices for the World’s Commodities – Bloomberg
An Industry Is Falling Out of Love With Hedge Funds – Bloomberg
Gold drops to 7-week low on Fed rate hike prospects – Reuters
An Inside Look at the World’s Biggest Paper Gold Market – Visual Capitalist
Gold and Silver Stocks Slammed, but Fundamentals Look Fabulous – Motley Fool

What you need to know about the next recession (starring Donald Trump) – WaPo
Fed economist: We talk too much to public with ‘limited attention span’ – CNBC
IMF Predicts Unemployment In Greece Will Fall To 12 Percent….By 2040 – Forbes
German Business Ignores Brexit Fears as Confidence Improves – Bloomberg
Brazilian Cabinet member was just caught on tape plotting to take down the president – Vox
Canada to Monitor Detained Migrants Electronically Instead of Locking Them Up – Vice News
In France, talking about money is more taboo than talking about sex – Quartz
Are Some Borrowers “Self-Sidelining”? – Mortgage News Daily
Median Home Price and Salary Required in 27 Major Cities – Advisor Perspectives
“NIRP is Killing Us,” Wheezes Spain’s Second Biggest Bank – Wolf Street
Just Stop It! – Contra Corner


Credit Cards Reanimated

From last week, the WSJ reports that the number and popularity of credit cards has experienced something of a resurgence after the near-death experience Americans had with debt (that is, excluding student loans) during and after the Great Recession.

I dont’ know about you, but we regularly get offers for new credit cards with introductory rewards of anywhere between $100 and $500 each. You’d think they’d stop sending them to us since we just make the minimum purchases to get the reward and then go back to using our Costco Amex which morphs into an even better Costco Visa next month.

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