The Mess That Greenspan Made - Part 18

Tuesday Morning Links

Oil tumbles on Iran nuclear deal – USA Today
Europe Owns This Disaster – Bloomberg
Was this humiliation of Greeks really necessary? – Guardian
Tsipras Enters Parliament Den to Sell Aid Deal to Greeks – Bloomberg
Greece is being treated like a hostile occupied state – Telegraph
It Starts: Greeks Rebel Against Bailout, Risk Collapse – Wolf Street
Greece’s new deal simply won’t work for these two reasons – MarketWatch
An “Austrian” Economist’s Advice for Greece and the EU – Epic Times
Needed: More Government, More Government Debt, Less Worry – WCEG
What Bernie Sanders says about inequality no other candidate will touch – WaPo
Candidates should address needs of Americans sidelined by job market – WaPo
The 2016 U.S. Presidential Race: A Cheat Sheet – Atlantic
How you can be ‘The Millionaire Next Door’ – MarketWatch

Global stocks uneven after Greece deal, China falters – AP
Hedge Funds Reassess China After Market Free Fall – NY Times
U.S. companies expected to report worst sales fall in six years – Reuters
Behind Goldman Sach’s Bullish Stance on China Stocks? – Wall St. on Parade
Bear market may wait for equities to extend gains – MarketWatch
Bond King Gundlach Feuds With Morningstar – WSJ
Gold eases as focus shifts to potential U.S. rate rise – Reuters
Gold Eagle Sales Surge Due To Financial Turmoil – SRSrocco Report
China on track for new annual record gold deliveries – Mineweb

What Seasonally-Adjusted Economic Data Needs Most… – No Hesitations
German Production is a Facade Built on Bad Loans… – First Reuttal
China May Tip World Into Recession: Morgan Stanley – Bloomberg
Decline in China New-Car Sales Is Latest Worry for Top Auto Makers – WSJ
China’s Credit Expands in June as Stimulus Efforts Kick in – Bloomberg
Inflation Is Hitting Japanese Households Hard – Bloomberg
Property insider: It’s bigger than you think – New Zealand Herald
Are We Entering Housing Market Bubble 2.0? – Motley Fool
The Fed’s Janet Yellen Ramped Up Outreach to Republicans in May – WSJ
Janet Yellen’s Unusual Optimism – NY Times


My guess is that the use of the “a-Greek-ment” contraction by European Council president Donald Tusk is not a good sign for what comes next in today’s Greek debt deal, a deal that is the same or worse than the one the Greek people voted against a week ago.

Markets are rallying on the news – China stocks, U.S. stocks – it’s all good…

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Monday Morning Links

Europe gives tired cheer to Greek rescue deal – Reuters
Greece Capitulates to Creditors’ Demands – Bloomberg
Greek crisis: Germany’s most telling demand – Vox
After “Deal”, Here’s What’s Next For Greece – Zero Hedge
Tsipras Moves From Predator to Prey at Euro ‘Torture’ Summit – Bloomberg
#ThisIsACoup: Greece bailout sparks social media backlash – Telegraph
Euro’s Drop Muted as CurrencyResistant to Turmoil – Bloomberg
Sanders’ Big Spending Plans Would Reinvent the U.S. – Fiscal Times
Donald Trump: A False Flag Candidate? –
Greece and the King of Asteroid 325 – Hussman Funds
Cracks In The Facade – Alhambra Partners
Broken – CBB

Stocks rise as Greece gets bailout deal – AP
China embraces the markets – Economist
The Hierarchy of Investor Needs – Motley Fool
Earnings season distracts from ‘grotesque’ market bubbles – MarketWatch
China’s Incendiary Market Is Fanned by Borrowers and Manipulation – NY Times
GMO’s Montier: we haven’t been this risk-averse since 2008 – citywire
Oil Extends Biggest Weekly Drop Since March as Iran Deal Looms – Bloomberg
Earnings Season Heats Up: Get Set for Worst Showing Since 2009 – Fiscal Times
Gold slips on dollar after Greek debt deal, U.S. rate rise signals – Reuters
For Indians, paper gold can’t beat the real thing – Reuters

The Increasing Mathematization of Economics – EPJ
Is the U.S. Economy Set for a Second-Quarter Rebound? – WSJ
U.S. Gasoline Cheapest Since Mid-May After Rout at Pumps – Bloomberg
Resurgent UK households and firms borrow more – Telegraph
China expected to post worst growth since financial crisis – CNN/Money
With Ban on Exports Lifted, Japan Arms Makers Market Wares Abroad – NY Times
Puerto Rico’s soaring cost of living, from giant electric bills to $5 cornflakes – Guardian
Listing Star Andrew Greenwell On San Francisco’s Insane Housing Market – Tech Crunch
Volatile prices scare investors away … except in the housing market – Business Insider
Foreign investors taking large bets on expected rate hike by US Federal Reserve – ET


Here’s that BBC piece from a few years back about Goldman Sachs’ financial engineering that helped Greece join the eurozone in 2001 despite an already big pile of debt.

Well, at least they had a really swell Olympics back in 2004…


Thursday Morning Links

Greece talks ‘ruled out’ before vote – BBC
A Bankrupt Greece Is Struggling to Stay Afloat – NY Times
Hollande sees quick Greek deal if ‘yes’ wins – AP
Merkel-Tsipras Sparring Leaves Greece in Limbo – Bloomberg
Europe has suffered a reputational catastrophe in Greece – Telegraph
Defiant Varoufakis Says He’ll Quit If Greeks Endorse Austerity – Bloomberg
Greece’s Referendum: The Price of Five Years of Cowardice – Spiegel
The Bill: Germany Faces Billions in Losses If Greece Goes Bust – Spiegel
Don’t Reward the Greedy Vulture Funds Who Invested in Puerto Rico – NR
Why Congress Should Let Puerto Rico Declare Bankruptcy – New Yorker
Government Debt: Jefferson And Gallatin Were Right – Daily Caller
Macy’s parts ways with Donald Trump – WaPo
How About a Global Currency? – Bloomberg

Global stocks gain as US data eclipse Greek risk – AP
Four things investors should know for July – USA Today
Boom times for healthcare mergers bring bankers more fees – Reuters
Why investors need to get out of North America – FP
A Venture Capital Giant Says: Bubble? What Bubble? – NY Times
Chinese stocks tumble again, ignoring Beijing’s blandishments – Reuters
Gold at 3-1/2 month low on dollar ahead of U.S. payrolls data – Reuters
Former US Mint Director Clueless On Gold In Fort Knox – BullionStar
Gold unruffled by Greece as trading range enters 4th month – Mineweb

Robust jobs report could instill confidence – USA Today
U.S. Job Creation Index Holds in June at Record High of +32 – Gallup
Here’s What to Watch for in Today’s Jobs Report – Bloomberg
China manufacturing PMI unchanged at 50.2 in June – xinhuanet
The ‘Demerging’ Greek Economy – Bloomberg
India’s economy picking up; needs more reforms – Business Standard
Ukraine Says Russian Generals Lead Separatists – Bloomberg
7 Things to Know About the $500M Mega-Mansion in Bel Air – Forbes
Cash Homebuyers Pull Back as Foreclosures Vanish in U.S. – Bloomberg
Sweden cuts key interest rate again citing Greek crisis – AP

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