The Mess That Greenspan Made - Part 12

After seeing stories on network news about how long airport security lines have become at major airports, just one thought comes to mind – thank God I don’t have to fly anywhere anymore. The graphic below from this Quartz story explains the situation:

CNN/Money reports that travelers in Chicago are being told to arrive three hours prior to their departure time – as if Chicago doesn’t already have enough  problems…

Thursday Morning Links

MUST READS
The Fed’s gambit – Macro Man
US interest rates could rise in June – BBC
Selected highlights from the Fed minutes – MarketWatch
Why I Hate the Internet found so many readers – Guardian
China’s Communist Party goes way of Qing Dynasty as debt hits limit – Telegraph
The real problem with negative interest rates? They are a stealth tax – MarketWatch
The last gun shop in San Francisco is turning into a weed dispensary – Quartz
The Gun That Killed Trayvon Martin Finds a Buyer – The Atlantic
Facebook: Confab with conservatives was ‘constructive’ – USA Today
Your guide to President Donald Trump’s Supreme Court shortlist – Vox
Hillary loves the ’90s! But she can’t bring them back. – The Week
How Clinton Could Finally Close the Door on Sanders – Fiscal Times
Budweiser and the Selling of America – New Yorker

MARKETS/INVESTING
Futures lower after Fed favors rate hike if economy picks up – USA Today
Violent Struggle Over Oil and Money Rattles Global Energy Market – Bloomberg
Could this post-Fed bond selloff be a repeat of ‘taper tantrum’? – MarketWatch
Which Institution Has The Best Asset Allocation Model? – Meb Farber Research
How Wall Street Led LendingClub Into Crisis – Bloomberg
Gold slides to 3-week low on Fed rate hike expectations – Reuters
Gold prices drop as interest-rate rise looks more likely – MarketWatch
Huge Trend Changes Point To Something Big In The Gold Market – SRSrocco Report

ECONOMY/WORLD/HOUSING/BANKING
Moody’s downgrades 2016 US growth – MarketWatch
A Long-Term Look at Inflation – Advisor Perspectives
The Real Lesson Behind Brazil’s Mess – Bloomberg
Mob burns Venezuelan man alive over $5 as rule of law fails – AP
British ’shopaholics’ defy economic gloom with spending splurge – Telegraph
Alberta wildfire destroys oil sands work camp as thousands of staff evacuated – Guardian
Rise of the Populists: Austria a Step Ahead in Europe’s Race to the Right – Spiegel
Leaving Europe Is a Risk the U.K. Shouldn’t Take – Bloomberg
Is the Silicon Valley Real Estate Bubble About to Explode? – Vanity Fair
Why London could decide the next US rate hike – CNBC
Monetary Policy For Dummies – Alhambra Partners

 

Retirement Regrets

There’s nothing really surprising in this Bankrate.com survey of regrets current and future retirees have about their current or future retirement.

Too little saving and too much debt account for two-thirds of the responses with the other third split about equally between None (the correct answer) and “Something else” (which screams out for some elaboration, given that it’s a pretty big share of the responses).

Low financial literacy and our consumer culture (buying things you don’t need with money you don’t have) work against those with the best intentions and, in the end, this is kind of like the obesity epidemic where, “eat less, exercise more” is easier to say than do.

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Wednesday Morning Links

MUST READS
George Soros bet big on gold – CNN/Money
Fighting the Next Financial Crisis – Project Syndicate
Why millions of US workers will now get overtime pay – CSM
Wildfire causes evacuation of Canadian oil sands camps – Mining.com
Facebook Trending team worker: the most toxic work experience of my life – Guardian
Sanders wins Oregon, battles Clinton in Kentucky, Trump wins Oregon – AP
An Exhausted Democracy: Donald Trump and the New American Nationalism – Spiegel
Why Pennsylvania Could Decide The 2016 Election – Five Thirty Eight
Clinton campaign wrestles with how to attack Trump – Politico
People are angry, but about politics, not the economy – Vox
The Mind of Donald Trump – Atlantic
Reality bites the GOP – The Week

MARKETS/INVESTING
Stocks: 6 things to know before the open – CNN/Money
The ‘black swan’ that could sink surging oil markets – CNBC
Goldman Sachs loses faith in stocks and warms up to oil – MarketWatch
George Soros Sells Stocks, Buys More Gold, Why Investors Should Care – Forbes
Global funds fear ’summer of shocks’ despite boom in money growth – Telegraph
The Commodity That No One Knows About But Everybody Wants to Buy – Bloomberg
Gold slips on dollar after U.S. data boosts Fed rate rise expectations – Reuters
Gold Demand Just Had Its Strongest-Ever First Quarter – US Funds
Junior Miners Surge as Global Elite screams: ‘Buy Gold’ – Secular Investor
Texan Plans to Build Gold Depository – Mises

ECONOMY/WORLD/HOUSING/BANKING
The Humungous Depression – The Burning Platform
A Growth Rate Weighed Down by Inaction – NY Times
UK employment hits fresh high as jobs market weathers uncertainty – Telegraph
China Needs Fewer Skyscrapers, Says Manager of Country’s Tallest Building – WSJ
Japan’s economy dodges recession in first-quarter, sales tax decision eyed – Reuters
There’s a strange consumer paradox playing out in India right now – Quartz
China April home prices accelerate, recovery spreads to smaller cities – Reuters
Recession-scarred Millennials fuel growing interest in tiny homes – USA Today
Revolving Door Swings As Feds Take Posh Jobs At Big Banks – Daily Caller
Fed Officials Come Looking For A Fight – Fed Watch

 

Stay Away from the Wildlife!

The story of a father-son couple in a rented SUV in Yellowstone National Park attempting to rescue a bison calf from the cold has made the national news in recent days.

It ends badly, as it would have regardless of the tourists’ actions.

The latest from East Idaho News can be found here.

FWIW – from what I’ve read, the calf had been rejected by its mother and was approaching people (not that this should have made a difference in how the tourists acted).

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