The Mess That Greenspan Made - Part 12

I Feel the Earth Move

Another diversion from what can be be found in the news today, including a surprising amount of interesting new stuff (e.g., sub solar points and Lahaina Noon).

Of course, the Monty Python gang had some thoughts on this as well..

Whenever life gets you down, Mrs.Brown
And things seem hard or tough
And people are stupid, obnoxious or daft
And you feel that you’ve had quite enough

Just remember that you’re standing on a planet that’s evolving
And revolving at nine hundred miles an hour
That’s orbiting at nineteen miles a second, so it’s reckoned
A sun that is the source of all our power

So remember, when you’re feeling very small and insecure
How amazingly unlikely is your birth
And pray that there’s intelligent life somewhere up in space
‘Cause there’s bugger all down here on Earth

Tuesday Morning Links

MUST READS
EU referendum poll: Brexit vote on the rise – Scotsman
Polls show rising support for Brexit; Sun backs ‘Leave’ – Reuters
The Orlando massacre was just one of 43 shootings yesterday – Vox
Coworker of Orlando Gunman Reported Him to Employer as ‘Unhinged’ – Vice News
I’m a Gay Activist, and After Orlando, I Have Switched My Vote to Trump – PJ Media
What if Donald Trump is exactly what people want after Orlando? – Washington Post
Trump’s Response to Orlando Is Exactly What ISIS Wants – Slate
Omar Mateen and the Clash of Civilizations – American Conservative
Who to Scapegoat? Guns or Muslims? – American Spectator
Wasserman Schultz May Be Dems’ Odd Woman Out – RCP
What’s New in Particle Physics – Scientific American
Newest photo of Pluto stuns scientists – CSM

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
The Bad Side of Bull Markets – Value Walk
Banner Day For Bitcoin Investment Trust – Barron’s
German 10-Year Yields Below Zero as Pound Slides on Brexit Risk – Bloomberg
Brexit Panic Sends Emerging Markets to Worst Streak in 5 Months – Bloomberg
Japan finance minister issues fresh warning on yen rise amid Brexit worries – Reuters
Gun company shares rise after Orlando tragedy – USA Today
Gold down, but near 4-week high ahead of Fed meet, Brexit vote – Reuters
Gold price: Hedge funds pile back into gold ETFs – Mining.com
Gold Company To Withhold Sales, Store Gold “for the long-term” – SHTF Plan

ECONOMY/WORLD/HOUSING/BANKING
Is It a Crime to Be Poor? – NY Times
Which Labor Market Data Should You Believe? -NY Times
EU Governments Get Stingier Over Citizenship – WSJ
Protests Over Food Shortages in Venezuela Leave Three Dead – Vice News
Goldman Sachs hired prostitutes to win Libyan business, court told – Guardian
Lenders bear most (but not all) responsibility for housing bubbles – OC Housing News
Survey: 71% of those with student debt say it delays homeownership – CNBC
Update: Real Estate Agent Boom and Bust – Calculated Risk
Flip-Flopping Fed Looks Foolish to the Market – Fiscal Times
Tim Duy’s Five Questions for Janet Yellen – WCEG

 

Dean of Elfery

Anyone in need of a chuckle this morning after the weekend’s events need only view the first minute or so of John Oliver’s take on retirement plans and financial advisers.

Here’s a link to the referenced Elf Spotting certificate … in case anyone’s interested.

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Monday Morning Links

MUST READS
Japan’s Nikkei falls 3.5% as yen strengthens – BBC
Fitch Revises Japan Credit Outlook to Negative – Reuters
Why I am voting to leave the European Union – Telegraph
Britain’s EU referendum: The vote of my lifetime – CNN/Money
Why It’s Good the Fed Missed its Chance to Raise Rates – WSJ
What Happened During the Worst Mass Shooting in US History – Vice News
The AR-15 is the gun of choice for mass shootings and it’s easy to buy in Florida – Quartrz
Trump takes credit for ‘being right on radical Islamic terrorism’ – Politico
Could Libertarian Gary Johnson Play the Spoiler in November? – Fiscal Times
George Gilder Writes A Savagely Brilliant Book: The Scandal Of Money – Forbes
Like Water Out of a Sponge – Hussman Funds
Historic Crazy – Credit Bubble Bulletin

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
Yellen Data Dependence Leaves Investors Dazed and Confused – Bloomberg
Surging yen sends Nikkei tumbling ahead of BOJ meeting – CNBC
Yuan Falls Most in Two Months as Trading Resumes After Holidays – Bloomberg
Paul Singer: “It’s A Very Dangerous Time To Be In The Market” – Zero Hedge
Hedge Fund Managers Work to Stanch Loss of Investors – NY Times
Silicon Valley’s Audacious Plan to Create a New Stock Exchange – Bloomberg
Gold hits 4-week high as cenbank meets, Brexit vote shake stocks – Reuters
Gold hits multi-week high as investors back away from stocks, dollar – MarketWatch
Is $10,000 gold on the horizon? One commodities expert says yes! – CNBC

ECONOMY/WORLD/HOUSING/BANKING
The Case for Free Money – New Yorker
How the Fed’s Jobless Projections Could Change – Bloomberg
Russia and the Post-Oil Economy – Project Syndicate
Abe Aide Sees Potential for BOJ Buying Riskier Corporate Debt – Bloomberg
China Home Sales Rose at Slowest Pace This Year Amid Cooling – Bloomberg
Housing values push Americans’ total wealth to record $88T – The Real Deal
Urban sprawl: Did gentrification lead to rent surge, or vice versa? – CNBC
Next Fed interest rate move could be a cut, Eastspring Investments says – CNBC
Even Central Bankers Begin to Despair of the Draghi Effect – Raging Bullshit
Fed Decision Makers Wrestle With So-Called Natural Rate – WSJ

 

The Bernie Sanders Ride

I don’t really know much of anything about presidential candidate Bernie Sanders or his supporters other than what you see on the evening news and the Sunday talk shows, but the cartoon below from Townhall seems to capture this public image pretty well.

Combined with stories like American Teens Refuse to Get Jobs and the now impossible idea of working during the summer to pay for college, it really makes you wonder sometimes.

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