The Mess That Greenspan Made - Part 6

Wednesday Morning Links

Caroline Baum Slams Paul Krugman – EPJ
Only 3 new U.S. banks opened since 2010 – CNN/Money
Why Economists Have Trouble With Bubbles – Bloomberg
Chinese stocks close higher, halting 3-day skid – MarketWatch
China’s Currency Policy Sinks Into Disarray Amid Rout in Stocks – Bloomberg
China-Tied Hackers That Hit U.S. Said to Breach United Airlines – Bloomberg
Is the Ugly German Back? Flames of Hate Haunt a Nation – Spiegel
Cecil the Lion: the killing that’s enraged the internet, explained – Vox
The Animal Serial Killer Who Shot Cecil The Lion – Daily Beast
Media punishes Trump, Sanders for not playing by its rules – MarketWatch
Trump Schools Republican Establishment – Politico
Could Trump Win? – Pat Buchanan

Stocks rise ahead of Fed, wary eye on China – AP
Nobody Knows How Much Bonds Cost – Bloomberg
The Dow just broke a pretty dubious record – CNBC
Investors wait for the ‘Big One.’ No correction in 4 years! – CNN/Money
What you don’t know about the stock market can haunt you – MarketWatch
Gold steadies as investors seek cues on U.S. rate hike timing – Reuters
Deutsche: Gold price has another 30% to fall – and soon –
China’s gold imports to plunge as financing deals unwind – Reuters
Investors need to consider that gold may fall to $350 an ounce – MarketWatch
Gold Is Only Going to Get Worse – Bloomberg

Your Rent’s About to Get Even Higher – Bloomberg
Why Americans workers are becoming less productive – The Week
Economists Try To Find ‘Missing’ GDP Rather Than The Lost Economy – Alhambra Partners
In Hideaway for Brazil’s Rich and Famous, a New Scandal Emerges – Bloomberg
Special Report: Ukraine struggles to control maverick battalions – Reuters
The Russian Bear is Back, Just Itching to Start a New Cold War – Fiscal Times
Lew Warns That Puerto Rico Crisis Could Get Costly for U.S. – Bloomberg
Are Home Prices Again Breaking Records? Not Really – WSJ
Fed expected to push ahead with rate hike plan – Reuters
China would have to get a lot worse to stall Fed – CNBC


Stocks, the Fed, Mr. Creosote, and a Mint

As the Federal Reserve brain trust gathers in Washington, Art Cashin talks about what a wacky year it’s been so far on Wall Street with what are, historically, the most volatile few months for equity markets yet to come.

I’m sure others have already pointed out how a rate hike this fall might be like “a thin mint” for Mr. Creosote in Monty Python’s classic The Meaning of Life, but, here are a couple of links just in case – Youtube, Wikipedia.

Tuesday Morning Links

Greece Made Preparations to Exit Euro – NY Times
Varoufakis ‘contingency plan’ for euro exit – Guardian
China’s market may be partying like it’s 1929 – MarketWatch
China shares fall again as Beijing scrambles to calm markets – Reuters
Analyst Who Called Bottom for Shanghai Stocks Sees Further 14% Plunge – Bloomberg
Shorting China’s ‘A-Shares’ ETF is Insanely Expensive – Barron’s
Here’s why you should worry about China’s stock market rout – MarketWatch
Puerto Rico Lacks Cash for Aug. Bond Payment, Official Says – Bloomberg
Mass-Selling Hits Corn Futures; Soybeans, Wheat Fall – Nasdaq
Who Is To Blame For The Global Oil Supply Glut – Zero Hedge
The Moderate Republican’s Case for Donald Trump – Politico
Is the Democratic Party Abandoning Jefferson and Jackson? – Atlantic
Jon Stewart’s secret White House visits – Politico

Stocks rebound, ignore China markets – Reuters
The Only Six Stocks That Matter – WSJ
Millennials Have a Ton of Stock. They Just Don’t Know It – Bloomberg
Wall Street Still Didn’t Get The Memo—–China’s Done, Tops In! – Contra Corner
BofA: Another Sign Bull Market Is Running Out of Steam – Bloomberg
Gold steady as investors await Fed meeting – Reuters
Fresh bloodletting among gold mining stocks –
The Investment Case For Gold Remains Intact – GoldSilverWorlds
Inflation Deniers Emboldened by Gold’s Struggles –
Mining stocks are getting killed as gold, metals plunge – CNN/Money

The hottest jobs and how retirees can get one – MarketWatch
Slump Completes Half Year With No End in Sight – Alhambra Partners
As Fed approaches rate hike, job growth shifts away from oil patch – Reuters
British economy bounces back due to rebounding services activity, industrial output – ET
Buyers line up for days, hoping to grab coveted Vancouver condos – CTVNews
Will this year’s hot Orange County housing market continue? – OC Register
A leak so inconsequential that the Fed had to break it to us – MarketWatch
Should central bankers stick to talking about monetary policy? – mainly macro
5 Things to Watch at This Week’s Fed Meeting – WSJ


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

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

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

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

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