The Mess That Greenspan Made - Part 3

Climate Change, Spinal Tap, Pi, etc.

Contained in this supremely fascinating, quite humorous, and, sadly, pretty disturbing long-term perspective on today’s climate change predicament is this little segment that includes a reference to everyone’s favorite Rob Reiner offering from 1984.

Yes, as in the movie, the miniature Stonehenge looks more like the symbol Pi which happened to be the least of the concerns for band members who noted:

David St. Hubbins: I do not, for one, think that the problem was that the band was down. I think that the problem *may* have been, that there was a Stonehenge monument on the stage that was in danger of being *crushed* by a *dwarf*. Alright? That tended to understate the hugeness of the object.

Ian Faith: I really think you’re just making much too big a thing out of it.

Derek Smalls: Making a big thing out of it would have been a good idea.

Wednesday Morning Links

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

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

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.”

Tuesday Morning Links

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

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

? 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

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