The Mess That Greenspan Made - Part 3

Wednesday Morning Links

MUST READS
Trump Has 5-Point Lead in Battleground Ohio – Bloomberg
Obama can’t believe you’re even thinking about voting for Trump – Vice News
Pneumonia doesn’t disqualify Clinton from running for office – The Hill
Why Democrats in Western Pennsylvania Are Voting Trump – The Atlantic
New York attorney general opens ‘inquiry’ into Trump Foundation – Politico
Hillary Has Pneumonia, But Trump Is Still A Deranged Threat To America – Huffington Post
The Trump response to Clinton’s basket of ‘deplorables’ was quite good – Washington Post
Russia Plans Urgent Delivery To Scientists Ambushed By Polar Bears – Newsweek
The shocking true story of America’s maddest and deadliest theme park – Telegraph
The U.S. military has a problem with obesity and it’s only getting worse – Military Times
Sugar industry secretly paid for favorable Harvard research – Stat News
How the Sugar Industry Shifted Blame to Fat – NY Times

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
U.S. stocks set to rebound after oil-fueled selloff – MarketWatch
Buffett’s Deafening Silence on Wells Fargo – Bloomberg
So Much For Your ‘Diversified’ 60/40 Portfolio – Barron’s
There’s a $300 Billion Exodus From Money Markets Ahead – Bloomberg
Wall Street’s ‘fear gauge’ shows it’s about to get ugly in the stock market – MarketWatch
Emerging Stocks Extend Worst Drop Since June; Mexican Peso Falls – Bloomberg
The pattern signaling a potential 25% plunge for the S&P 500 by spring – MarketWatch
Gold up, waiting for clues on timing of U.S. rate rise – Reuters
Gold Sees Modest Corrective Bounce; FOMC Meeting In Focus – Kitco

ECONOMY/WORLD/HOUSING/BANKING
Why America’s good fortune won’t last – The Week
At last, hope that US economy has turned a corner – CSM
What’s the Real Unemployment Rate? That’s the Wrong Question – of two minds
Unemployment rate in the U.K. falls to fresh 11-year low – BBC
Hanjin Brings One of World’s Busiest Shipping Terminals Close to Standstill – Bloomberg
Great Graphic: Net Mexican Migration to the US–Not What You Might Think – Marc to Market
Economic turmoil turns Venezuela into a shadow of their former selves – The Week
Luxury-Home Sales in Vancouver Plunge on Foreign-Buyer Surcharge – Bloomberg
BOJ to make negative rates centerpiece of future easing – Reuters
The Fed Plans for the Next Crisis – Ron Paul, Mises

 

A Different Kind of Product Tester

The Grizzly and Wolf Discovery Center in West Yellowstone, MT is about the only place where it’s fun to watch grizzly bears. Here, we learn that they also serve as product testers.

From the Lewis and Clark journals:

On May 5, William Clark and George Droulliard killed an enormous grizzly bear, with some effort. Clark described it as a “verry large and a turrible looking animal, which we found verry hard to kill we Shot ten Balls into him before we killed him, & 5 of those Balls through his lights.” Lewis estimated the weight of the bear at 500-600 pounds, about twice the size of the average black bear. He noted that after the bear was shot, “he swam more than half the distance across the river to a sandbar & it was at least twenty minutes before he died; he did not attempt to attack, but fled and made the most tremendous roaring from the moment he was shot.” Once the bear finally died, they butchered it for meat and its thick furry skin. Sobered by the size and ferocity of the bear, Lewis wrote, “I find that the curiossity of our party is pretty well satisfyed with rispect to this anamal.”
(more…)

Tuesday Morning Links

MUST READS
Markets Wag the Fed – WSJ
JPMorgan’s Dimon says it’s time for a rate hike – USA Today
How Regulation Failed with Wells Fargo – New Yorker
Global oil surplus to persist into first half of 2017: IEA – Reuters
The Crazy, Mixed-Up Global Oil Market – Bloomberg
Economic uncertainty weighing on global oil demand – AP
Clinging to Power Is The Merkel Era Coming To an End? – Spiegel
Clinton didn’t think pneumonia ‘was going to be that big a deal’ – Fox News
Supporter Strikes Protester as Trump Decries ‘Deplorables’ Comment – MSNBC
Republicans call tech experts to testify on Clinton’s server – AP
‘Facebook needs an editor’: change urged after photo dispute – Guardian
Why Supermarket Bacon Hides Its Glorious Fat – Bloomberg

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
Dow futures slump more than 100 points – MarketWatch
What Friday’s Selloff Portends for the Stock Market – Barron’s
Dollar recovers after Fed’s Brainard quells rate rise chatter – Reuters
Bond Markets Hit Another ‘Ukrainian Chicken Moment’ – Bloomberg
Pension deficits reach a record £459bn as interest rate cut bites – Telegraph
German Bonds Rally as Brainard Stokes Wagers on More Cheap Money – Bloomberg
How Goldman Plans to Turn Retail Deposits Into Wall Street-Style Profits – Fortune
Gold edges up as investors weigh Fed hike outlook – Reuters
How Precious Metals Streaming Works – Visual Capitalist

ECONOMY/WORLD/HOUSING/BANKING
? We, the People Versus We, the Wealthy – The Nation
US Economy Sluggish and the Election Isn’t Helping – Fiscal Times
UK is one of the most unequal countries in the world, says Oxfam – BBC
Brexit talks may be most complicated negotiation ever, says Davis – Guardian
Syria cease-fire holding, only minor violations reported – AP
The Maritime Silk Road China’s High Seas Ambitions – Spiegel
Hanjin Fall Is Lehman Moment for Shipping, Seaspan CEO Says – Bloomberg
Housing market cools in first post-Brexit figures, but prices still soaring – Telegraph
Why one expert says value of buying a home is overrated – Housing Wire
Central Banks Seen Keeping Devil They Know: Inflation Targeting – Bloomberg

 

Upper Missouri River Breaks

We’ve been quite busy over the last month, hence the cessation of anything resembling regular posting of anything at this blog. The photos below are from our latest adventure floating the Upper Missouri River Breaks, something that we’ve been looking forward to all summer and that can now be highly recommended.

Click either image to enlarge

Monday Morning Links

MUST READS
Selloff gathers pace as stimulus pullback fears deepen – Reuters
Fed rate hike jitters and Clinton concerns hit stocks hard – AP
Gundlach’s Bond-Market Inflection Point – Bloomberg
Why JPMorgan Is Warning Investors to Take Care With Treasuries – Bloomberg
Fed Dove Frets about Asset Bubbles, Wall Street Freaks out – Wolf Street
Phony Accounts Unit Wells Fargo Exec Collected $125 Million – Fortune
The mind-blowing stupidity of Wells Fargo – The Week
Millions Of Older Americans Lack Retirement Funds – ValueWalk
Bill McBride and the Case for Facts – Big Picture
Party Like It’s 1999 (and 1929) – Hussman Funds
Hostage to a Bull Market – WSJ
Reversals – Credit Bubble Bulletin

MARKETS/INVESTING
Stocks: 6 things to know before the open – CNN/Money
World stock markets plummet on Fed rate hike jitters – USA Today
The Bull Is Still Running. So Why Are Investors Tiptoeing? – NY Times
The world’s safest investment just got more dangerous – MarketWatch
Deutsche Bank says 35-year party is over for bond bulls – MarketWatch
OPEC Flips Forecast to Predict Rebound in Rival Supply Next Year – Bloomberg
Dow Decline Signals End of Western Civilization – Reformed Broker
Millionaires’ new challenge: they’re not rich enough for private banking – Guardian
Gold holds steady as stocks, other metals suffer – Reuters
China’s Rising Gold ETF Market: A Hybrid – BullionStar
Gold price: Hedge fund bears in about turn – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
Hanjin ship unloads in U.S. as fresh funds pledged – Reuters
Should You Be Worried about China’s Economic Slowdown? – ValueWalk
North Korea will probably keep testing nukes no matter what the US does – Vice News
Europe’s top court has made merely linking to stolen material on the web a crime – Quartz
Shanghai Police Find Root of Rumors That Sparked Home-Buying Frenzy – WSJ
PBOC’s Ma Says China Must Act to Contain Housing Market ‘Bubble’ – Bloomberg
Central Banks May Choose Helicopter Money Over Negative Rates – Mises
The Untold Story of 9/11: Bailing Out Alan Greenspan’s Legacy – Wall Street on Parade
Why Central Bankers are Like Sheepdogs – Roger Farmer

 
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