The Mess That Greenspan Made - Part 3

Jon Stewart and Donald Trump

In his last two months as host of Comedy Central’s The Daily Show, Jon Stewart has found comedy gold in real estate mogul Donald Trump’s bid for the White House next year.

The clip above is from last Monday, as the crew came back from a two-week break, during which they must have been chomping at the bit, watching the mainstream political news coverage and becoming increasingly anxious about getting new material on the air.

Fun stuff, that is, for everyone except Trump’s campaign staff and The Donald himself.

Monday Morning Links

MUST READS
China shares fall more than 8% – BBC
There’s no need to panic about China’s falling stock markets – Telegraph
The true cost of China’s multibillion-dollar market intervention – MarketWatch
EU/IMF mission chiefs to start bailout talks in Athens this week – Reuters
Tsipras’s Paradox Is Six Months of Pain and Enduring Popularity – Bloomberg
Varoufakis reveals cloak and dagger ‘Plan B’ for Greece, awaits treason charges – Telegraph
Debt conundrum to keep Greek banks in months-long freeze – Reuters
Draghi’s ‘Whatever It Takes’ Marks Three Years Proving Enough – Bloomberg
Wolff: FT sale shows strength of some newspaper brands – USA Today
The secret to a happier, healthier life: Just retire – MarketWatch
Memorize This, Earn a Dollar – Hussman Funds
Same Old Same Old – CBB

MARKETS/INVESTING
Futures lower, Chinese stocks plunge – USA Today
Why there’s no bubble in biotech – Financial Post
European shares slide taking cues from Asia – Reuters
Index funds may be conspiring against investors – Quartz
Oil Bulls Are Fleeing at the Fastest Pace in Three Years – Bloomberg
Information overload is making us dumber investors – MarketWatch
Gold above 5-1/2-year low as dollar weakens, bears dominate – Reuters
China’s Gold Buying From Hong Kong at Lowest in a Year – Bloomberg
Gold is doomed – Washington Post
What to make of gold – Mineweb

ECONOMY/WORLD/HOUSING/BANKING
Measuring unemployment – Econbrowser
Optimism About U.S. Job Market Dips in July – Gallup
China June industrial profits fall 0.3 percent year on year – Reuters
German business confidence stronger than forecast – MarketWatch
The Eurozone’s German Problem – Project Syndicate
Student loan debt is not hurting the housing market – Forbes
It’s Hard to Bet Against Houses – Bloomberg
The Housing Market Still Isn’t Rational – NY Times
Fed Is Closer to Its Inflation Target Than People Think – Bloomberg
Fed is closer to a September rate hike than many think – MarketWatch

 

U.S. Housing Market Heating Up

After yesterday’s five-year high in existing home sales and fresh record high in median sales price, here’s a quick look at where home values are rising the quickest and where bidding wars are common via this WSJ story from a couple days ago.

California is sure running hot (Silicon Valley) and cold (Central Valley, a notable exception being Merced). Interestingly, Zillow puts the value of our California home about $20K higher than what we sold it for about 10 years ago (and we sold a couple years prior to the peak).

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Thursday Morning Links

MUST READS
Existing home sales surge, prices hit record – USA Today
Don’t laugh, US housing market is the best story in the global economy – Quartz
Greek parliament approves new reforms, clearing way for bailout talks – Telegraph
Stock Downturn Hits Chinese Investors in the Heart, Not Just the Wallet – NY Times
Investors rethink stock valuations as China, growth weigh on prospects – Reuters
Pension Funds Hunting Yield Return to Bonds Tied to Risky Loans – Bloomberg
The Case for a Tax on Financial Transactions – NY Times
Earthquakes Linked to Fracking Are Getting Stronger in Alberta – Vice News
Why Low Oil Prices May “Morph” Into Something Much Worse – Our Finite World
Trumping Political Success through an Irate Silent Majority – Tanosborn Online
Trump Voters Are Hillary’s New Best Friends – Politico
Obamacare penalty hits more Americans – CNN/Money

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
Goldman Sachs: ‘Dr. Copper’ Could Plunge 20% – Barron’s
Distressed-Debt Market Upended Amid Commodities Rout – Bloomberg
Capital exodus from China reaches $800bn as crisis deepens – Telegraph
Gold bounces back above $1,100/oz from 5-year low – Reuters
Time to Sell Risk Assets, Buy a Little Gold? – Barron’s
Gold Smash Leads to Surge in Demand For Coins, Bars – GoldCore
Gold price in worst losing streak since 1996 – Mining.com
Morgan Stanley: Gold Could Sink to $800 – Bloomberg
Gold majors skating close to the precipice – Mineweb

ECONOMY/WORLD/HOUSING/BANKING
New York Panel Approves $15 Fast-Food Wage – WSJ
Falling gas prices not doing much for the economy – CNBC
The Best Ways to Fight Extreme Poverty – Project Syndicate
Apple’s stock plunge and our skewed view of the economy – The Week
Xi Hones China’s Next Economic Blueprint After Stock Turmoil – Bloomberg
Levy Faces Reality After Brazil’s Recession Erodes Savings – Bloomberg
Puerto Rico Default Recovery Rates as Low as 35% – Bloomberg
How Our Homes Have Changed Since the ’50s – ZillowBlog
Central Banks Have Shot Their Wad, Part I – Contra Corner
Why The Fed Is Stalling On Rate Hike – Forbes

 
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