The Mess That Greenspan Made - Part 6

Monday Morning Links

MUST READS
Chinese trade drop adds to global economic woes – BBC
Globalization and its New Discontents – Project Syndicate
We’re in a Low-Growth World. How Did We Get Here? – NY Times
Are We Reaching the End of World Records? – Scientific American
The ancient Olympics were dirty, violent, corrupt affairs – PRI
Trump advisers defend all-male economic team – Bloomberg
Is Donald Trump trying to throw this election? – The Week
Trump is right: It’s time to rethink NATO – Politico
EXCLUSIVE Gary Johnson op-ed: There’s another choice – The Hill
A Third Of Sanders’ Supporters Aren’t Backing Clinton Five Thirty Eight
How Central Bank Enabled Financialization Divided America – Contra Corner
Updating Government Finance Quasi-Capitalism – CBB
The Seven-Year Short – Bloomberg

MARKETS/INVESTING
Stocks: 4 things to know before the open – CNN/Money
Earnings beats are concealing bad results – MarketWatch
Stock markets and U.S. dollar both climb as ‘risk-on’ mode dominates – Reuters
Oil prices plummet amid continued oversupply, with no end in sight – Guardian
The Indexing End Game: The Wilshire 5000 Only Has 3,607 Stocks – Dark Bid
Waiting Forever for Fed Model Bull Case on Stocks to Come True – Bloomberg
Sell everything? This stock-market rally dares you – MarketWatch
Gold inches lower on U.S. payrolls, rate hike fears – Reuters
Investing in Gold in 2016: Global Paradigm Shifts in Politics and Markets – Acting Man
The Colors of Money Andrew Jackson Still Fights the Banking War – GoldSilverWorlds

ECONOMY/WORLD/HOUSING/BANKING
A Realistic Look at July’s Nonfarm Payrolls – Wall Street on Parade
Can a North Dakota Oil Town Break the Boom-Bust Cycle? – The Atlantic
Is now the time to switch Britain’s mix of economic policies? – Telegraph
Venezuela’s zoo animals are dying, and people could be next – Quartz
The spy saga of an Iranian nuclear scientist ended with his execution – Vice News
Ordinary people can’t afford a home in San Francisco. How did it come to this? – Guardian
The boom that never materialized: boomerang homebuyers – OC Housing News
PBOC Signals More Use of ’Innovative’ Monetary Policy Tools – Bloomberg
Will the Bubble Pop Even if the Fed Never Raises Rates? – Mises

 

Thursday Morning Links

MUST READS
Dow, up for 9 days, hits a new record again – USA Today
Global stocks nurse nine-month highs before ECB meeting – Reuters
Kuroda Says No Need and No Possibility for Helicopter Money – Bloomberg
Why Italy’s bank crisis could be ‘ticking time bomb’ – MarketWatch
Emerging market debt triples since 2005, posing threat, Moody’s says – Reuters
The world is taking its revenge against elites. When will America’s wake up? – Guardian
Trump Chooses War With Cruz at Convention Aimed at Unification – Bloomberg
A Disappointed ‘Stop Trump’ Delegate Reflects On What Went Wrong – Five Thirty Eight
Ted Cruz’s Refusal to Endorse Trump: ‘That Took a Lot of Cojones’ – Atlantic
Magical Economic Thinking at the G.O.P. Convention – New Yorker
Will the Rust Belt ever be great again? -USA Today
Ignoring Politicians – reason.com

MARKETS/INVESTING
Six things to know before the open – CNN/Money
Japan stocks rise on $186bn stimulus bets – BBC
Stock rally has downside: pricey P-E ratios – USA Today
The VIX Is Crazy Low; Time To Run For Cover – Barron’s
Republicans’ Scary Plan to Restore Glass-Steagall – Bloomberg
Dow, S&P 500 overheating – and Wall Street is freaking out – MarketWatch
‘Fear of missing out’ rally could continue with Thursday’s earnings – CNBC
Here’s What’s so Crazy about this Stock Market – Wolf Street
Gold edges above 3-week low ahead of ECB meeting – Reuters
US elections to give gold prices fresh boost – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
Five Decades of Middle Class Wages: June 2016 Update – Advisor Perspectives
Delayed retirement is both a symptom and a cause of a troubled economy – USA Today
IMF predicts 700% inflation, 10% GDP contraction in Venezuela this year – RT News
The Global Economy Is Slow… But Steadier Than Ever – Bloomberg
Brazil’s Lost Decade: We Must Free Our Economy – Mises
Could India Be the First to Get Rid of Cash? – Bloomberg
‘Significant’ drop in confidence in U.K. commercial property – Telegraph
Responsible homeowners did not lose their homes in foreclosure – O.C. Housing News
Central banks must realise the last thing we need is back door nationalisation – Telegraph
Our Disastrous Monetary System: A New Must-Read Book – Mises

 

It’s nearly impossible to avoid the goings-on at the Republican National Convention, but I’ve found that it’s much more palatable to only get your RNC news from comedians.

Good point about the Melania Trump speech/plagiarism – “this is a truly astonishing display of incompetence – they ripped off a passage about the value of hard work”.

Wednesday Morning Links

MUST READS
It’s official: Trump is the nominee – CNN/Money
Ten Reasons Why Trump Could Win – National Review
Donald Trump’s Great Gay Rock-Star Spectacle – Atlantic
The Trump convention is a triumph of narcissism – Washington Post
Christie jolts crowd with prosecutorial takedown of Clinton – Politico
There’s the real GOP convention, and then what the media ‘reports’ – The Hill
Hillary Clinton tweets sassy responses to the Republican National Convention – The Week
Roger Ailes negotiating exit from Fox News amid sexual harassment claims – Guardian
The decades-long, post-war growth of America’s middle class is at an end – MarketWatch
The rare weather phenomenon that produced a giant mushroom cloud in Arizona – Quartz
First Half of 2016 Blows Away Temperature Records – Scientific American
The Future of Big Oil? At Shell, It’s Not Oil – Bloomberg
The world is ‘addicted to debt’ – Business Insider

MARKETS/INVESTING
Stocks: 6 things to know before the open – CNN/Money
To the mattresses: Cash levels highest in nearly 15 years – CNBC
The strength of this market is the strength of this market – MarketWatch
Inside the High-Profile Downfall of a $8 Billion Hedge Fund – Bloomberg
Yes, Risky Investments Have a Place in a Portfolio – US News
The question isn’t whether the market is rigged, but how much – MarketWatch
Are Americans Finally Getting Smarter About Money? – Bloomberg
Gold falls on firmer equities, dollar after robust U.S. data – Reuters
After Doubling Shares, This Gold Miner Says Rally Will Go On – Bloomberg

ECONOMY/WORLD/HOUSING/BANKING
Recession coming? Here’s how to find out – MarketWatch
Americans’ Economic Gloom Festers, Gallup Stumped – Wolf Street
IMF cuts UK growth forecasts following Brexit vote – Guardian
UK employment hits record, ‘fundamentals of economy are strong’ – Telegraph
120,000 desperate Venezuelans poured into Colombia to buy food – Vice News
IS Flag Found: Teen Dead after Perpetrating German Train Attack – Spiegel
Republican Party calls for significant changes to housing in 2016 – Housing Wire
Donald Trump’s childhood home in Queens is for sale at $1.65 million – MarketWatch
Why Interest Rates Could Fall as Low as Negative 0.50% – Motley Fool
Fed’s Mission Is Accomplished. So Why No Change? – Bloomberg

 

Meanwhile, in Venzuela…

By the tens of thousands, Venezuelans are crossing the border into Columbia (when the government allows the border to stay open) in order to buy basic goods.

They’re predicting an annual inflation rate of 1,600 percent in Venezuela for the year ahead. About the only good news is that they’re far short of the peak inflation rate of 79,600,000,000 percent seen in Zimbabwe in late-2008.

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