The Mess That Greenspan Made - Part 5

Obesity … In the News

It’s been an interesting week for obesity news as the Center for Disease Control reported that women in the U.S. cracked the 40 percent threshold for the first time ever (men trail at 35 percent), all part of an epidemic that future historians will no doubt marvel at.

From the CDC’s website, these three charts are kind of interesting – obesity in the U.S. for White, Hispanic, and Black adults. Someone please pass this along to Donald Trump.

Meanwhile, in the U.K., there’s a row about fat and carbs:

It would appear that nutrition experts are as bad as economists – there’s a major problem and they may have been wrong about the root cause for decades.

Wednesday Morning Links

MUST READS
Hillary Clinton’s Remarkable Triumph – Atlantic
Inside the bitter last days of Bernie’s revolution – Politico
Bow out, Bernie. Hillary needs a clear run at the White House – Guardian
The meaning of Hillary and the long, hard climb to the top of the ticket – Washington Post
Anonymous Superdelegates Declare Winner Through Media – The Intercept
The Media Called the Democratic Race a Day Early – New Yorker
Is This Where Libertarians Say Goodbye to Conservatives? – reason.com
Donald Trump and the destruction of America’s political norms – Vox
Trump Has One Card to Play and He Better Play it Now – The Economy – Fiscal Times
Here’s the thing about debt: It’s not nearly as bad as everyone says it is. – Washington Post
The Brutal Journey Back to Work for Millions of Americans – Bloomberg
The Documentary Fastball Tosses Some Physics at Fans – Scientific American
The unconscionable abandonment of rural America – The Week

MARKETS/INVESTING
Stocks: 4 things to know before the open – CNN/Money
Oil hits eight-month high on disruptions, China demand – Reuters
If S&P 500 clears this hurdle, record territory may await – MarketWatch
Fortunes of Ultra-Wealthy to Grow Fastest as Stocks Recover – Bloomberg
Fund manager’s warning to traders: You’re getting the Fed all wrong – CNBC
Why Oil Prices Fluctuate – Visual Capitalist
Gold hits 2-week high as rate expectations fade – Reuters
Are Junior Gold Stocks Following 2008-2009 Recovery? – GoldSilverWorlds
It’s Sensible For Central Banks To Hold Gold – Former BOE Head Mervyn King – Kitco

ECONOMY/WORLD/HOUSING/BANKING
Trends in the Teenage Workforce Update – Advisor Perspectives
France shuns Europe as Brexit revolt spreads – Telegraph
Venezuela in Crisis: Families Are Fed Up With Going Hungry – Vice News
China Exports Stabilize as Imports Hint at Improving Demand – Bloomberg
The $13 trillion question: How fast are India and China really growing? – CNN/Money
The smugger Germany gets about its economy, the less competitive it becomes – Quartz
Study Finds Evidence That Rents Might Be Higher in the US than in Europe – Pro Market
The Federal Reserve’s Strange Behavior Makes Perfect Sense – Alt-Market
10 Most Hated Banks in America – Motley Fool
The Fed’s credibility gap is getting wider – CNBC

 

Black Swans Anyone?

Michala Marcussen, chief economist at Societe Generale, talks about what could go wrong this summer and, of course, in the fall with a little election scheduled here in the U.S.

Yeah, black swan is a term that has been over-used and mis-used in recent years.

As Donald Rumsfeld noted, “there are also unknown unknowns – the ones we don’t know we don’t know. And if one looks throughout the history of our country and other free countries, it is the latter category that tend to be the difficult ones”.

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Tuesday Morning Links

MUST READS
This Job Market Slump Started a While Ago – Bloomberg
Yellen signals Fed will wait to raise rates – LA Times
3 Signs of a Recession Janet Yellen Is Ignoring – Fortune
Yellen warns of the hit Brexit could have on US economy – BBC
Bank of England in preparations for potential Brexit – Guardian
London’s powerful financial hub: EU exit would be nightmare – AP
The problem for Obama is that America isn’t working – Telegraph
Nothing Is Made in the USA Anymore? What About This – Ron Paul Institute
Clinton’s Historic Moment Tempered by Sanders, Who Won’t Go Away – Bloomberg
Why the AP, NBC News just called the primary for Hillary Clinton – Vox
An oil billionaire shapes Trump’s energy views – Washington Post
The Daily Trump – The Atlantic

MARKETS/INVESTING
Stocks: 4 things to know before the open – CNN/Money
S&P within 1.0% of record after Yellen speech – USA Today
Break out or freak out—stocks try to push higher – CNBC
What the Disruptor 50 list tells us about the tech bubble – CNBC
The S&P 500, Dow and Nasdaq Since Their 2000 Highs – Advisor Perspectives
World’s Safest Market Beset by Most Volatility Since 2008 Crisis – Bloomberg
Why investors can expect U.S. interest rates to stay low forever – MarketWatch
Gold holds near two-week high on Fed rate caution – Reuters
Pain is not over yet for the global miners, PwC warns – Telegraph
China Paused Monthly Gold Purchases in May After Prices Surged – Bloomberg

ECONOMY/WORLD/HOUSING/BANKING
The Keynesians Stole The Jobs – Ron Paul Institute
U.S. Consumer Spending Remains Healthy in May – Gallup
The economic recovery just turned 7, and here’s why it feels so weak – LA Times
Venezuela Shows There’s No Shortcut to Economic Growth – Mises
Money, Jobs and Sovereignty: Myth vs. Reality Ahead of ‘Brexit’ Vote – NY Times
Excess capacity in Chinese economy distorting world markets, says Jack Lew – Guardian
The Canadian housing market puts us all at risk – Money Sense
Bay Area luxury housing market cools as economy slows – SF Biz Journal
The Case For A Super Glass-Steagall – Contra Corner
The Shadow Looming Over China – Bloomberg

 

John Oliver Buys Some Medical Debt

Pretty funny what Mr. Oliver does to shed light on things like this – how distressed medical debt is bought and sold in the U.S. like a commodity. Of course, there’s a rather dramatic conclusion to the story that you’ll discover toward the end.

We’ve come a long way from such things as debtors’ prison and the like and it’s funny to think that, up until the last 50 years or so, countries would actually pay back all the debt they piled up while fighting wars (that’s why the Revolutionary War came about – the British taxed the colonists to help pay off debts accumulated during the French and Indian War).

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