The Mess That Greenspan Made - Part 6

Tuesday Morning Links

MUST READS
Facebook: Political bias claim ‘untrue’ – BBC
The Saudi oil ministry’s new look – Washington Post
As trouble piles up, online lenders pull back – LA Times
World’s Most Extreme Speculative Mania Unravels in China – Bloomberg
China Trade And The Inevitability Of Systemic Reset – Alhambra Partners
Why China’s Debt Crisis Will Differ From Japan’s – Epoch Times
Britain must back the IMF to free Greece of its punishing austerity – Telegraph
‘Everyone’s outraged’: angry Greeks foresee Grexit and drachma’s revival – Guardian
The real reason Wall Street is rooting for Hillary Clinton – MarketWatch
Congressional Republicans grapple with new Trump reality – AP
Trump: US will never have to default, it prints money – CNBC
Mr. Trump Goes to Washington – Bloomberg

MARKETS/INVESTING
Stock futures higher as oil rebounds – USA Today
Oil, dollar could have stocks over a barrel – CNBC
I dissected the S&P 500, and this is what I found – MarketWatch
Carl Icahn Is Betting On An Imminent Market Collapse – Zero Hedge
Investors to Wall Street: We’re not buying your bull anymore – CNBC
The warning signs are all over commodities right now – MarketWatch
These hedge-fund billionaires were the hottest hands in 2015 – CNBC
Gold near 2-week low, steady dollar cap gains – Reuters
Hedge Funds’ Gold Positioning Near All-Time Highs – Kitco
Commercial Traders Are Very Short Gold & Silver – Gavekal Capital

ECONOMY/WORLD/HOUSING/BANKING
U.S. Small-Business Owners’ Optimism Levels Off – Gallup
Official “Labor Market Conditions” Give off Warning Signs – Wolf Street
Russian economy may return to growth by end of 2017 – EBRD president – RT News
UK’s trade deficit with EU jumps to record high ahead of Brexit vote – Telegraph
Dead-of-Night Reversal Puts Brazil Impeachment Back on Track – Bloomberg
China April inflation data sharpens debate on need for more easing – Reuters
China is buying Canada: Inside the new real estate frenzy – Macleans
Why more widowed homeowners are struggling to prevent foreclosure – LA Times
U.S. need not fear challengers to dollar, Fed official says – Reuters
Helicopters on a Leash – Project Syndicate

 

U.S. Immigration Then and Now

This is a pretty fascinating little depiction of how immigration into the U.S. has changed since 1820. Of particular interest for those with a good appreciation for U.S. history are the early- and mid-19th century influx from both Ireland and Germany along with the early-20th century surge from Italy and Russia.

Also, as would be expected, immigration slowed dramatically during the Great Depression and World War II, only to resume in a big way in the 1960s onward. Note the little summary text in the lower left, just in case things are happening too fast.

Monday Morning Links

MUST READS
The Party’s Over in Alaska – Bloomberg
Saudi Arabia ousts oil minister Ali Al Naimi – City A.M.
Even China’s Party Mouthpiece Is Warning About Debt – Bloomberg
Officials Hail Turning Point in Fort McMurray Fire – NBC News
Fort McMurray and the Fires of Climate Change – New Yorker
The Newly Emboldened American Racist – Huffington Post
Is It Paul Ryan’s Party Or Donald Trump’s Party? – Five Thirty Eight
Trump’s Popularity In The Primary May Backfire In The General – Daily Caller
Rumbles heard from Mount St. Helens: Is another major eruption coming? – CSM
Professor’s airplane math didn’t equal airplane threat – AP
Inflection Point for EM – Credit Bubble Bulletin
Latent Risks and Critical Points – Hussman Funds

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
Why China Is Prone to Bubbles – Bloomberg
Why stocks may be looking at more downside – MarketWatch
China stocks plunge again as hopes for economic recovery fade – Reuters
How much stock should you have in your retirement accounts? – MarketWatch
Bill Gross, Mohamed El-Erian Warn Against Counting the Fed Out – Bloomberg
China foreign exchange trading moves into shadows as Beijing tightens screws – Reuters
Gold slips 1 percent as dollar holds firm after U.S. jobs data – Reuters
Gold Sector Checkup After The ‘Inflation Trade’ Bounce – ValueWalk
Hedge Funds Take Bullish Gold Bets to Highest Since 2011: Chart – Bloomberg

ECONOMY/WORLD/HOUSING/BANKING
The silver lining to the dismal jobs report – The Week
Loud Calls for Greek Debt Relief – Handelsblatt
Germany: Must review reforms before Greek debt restructure – Reuters
Europe is right to kill off the criminals’ favourite banknote – Financial Times
Philippines investigates Shell and Exxon over climate change – Guardian
BBC Team Expelled From North Korea for ‘Disrespectful’ Reporting – Vice News
Everything a first-time home buyer needs to buy a house – CSM
Another Condo Bubble Bites the Dust – Wolf Street
ECB needs time for March moves to work: Constâncio – MarketWatch
Fed Should Aim for Inflation Overshoot, Says Evans – Bloomberg

 

Escaping Fort McMurray

Can’t imagine what it would be like to be one of the ~90,000 people being evacuated from Fort McMurray in Northern Alberta Canada, just a day’s drive north of Banff/Jasper where we’ve visited often in the summer, but, here’s the view from someone’s dashcam.

It sounds like global warming is to blame (well, at least according to the BBC).

Friday Morning Links

MUST READS
Central Banking’s Final Frontier? – Project Syndicate
Grant: Have Central Bankers Have Lost Their Marbles? – Zero Hedge
Biggest Junk-Bond ETF Jolted by Massive Outflows – Bloomberg
U.S. stock fund outflows largest since January -Lipper – Reuters
Apocalyptic Alberta Wildfire Could Stunt Canada’s Economy – Vice News
When Jefferson and Madison Banned Guns on Campus – Atlantic
Louisiana’s shaky government finances hit a major oil slick – CNBC
‘Low-interest-rate’ Trump wants to replace Yellen, refinance U.S. debt – MarketWatch
What Pundits Keep Getting Wrong About Donald Trump and the Working Class – Slate
Earthquake and aftershocks: Making sense of Donald Trump’s stunning victory – Daily News
Why George Washington Would Have Agreed With Donald Trump – Politico
Is the American Party System About to Crack Up? – The Nation
Truth and Trumpism – Krugman, NY Times

MARKETS/INVESTING
Stocks: 4 things to know before the open – CNN/Money
Corporate insiders send a bullish sign – USA Today
Emerging Markets Head for Worst Week Since January on Fed Bets – Bloomberg
China stocks slide nearly 3% on worries about looming bond defaults – MarketWatch
‘Paralyzing Volatility’ Means Trouble for Wall Street Giants – Bloomberg
Big drop in bullishness for U.S. stocks could actually be a good sign – MarketWatch
Gold edges towrds $1,280 ahead of U.S. jobs data – Reuters
Gold Set for Biggest Weekly Drop Since March – Bloomberg
Silver demand hit record high in 2015 – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
The men America has left behind – CNN/Money
Why millennial parents have it hardest – The Week
There’s something missing from the US economy – Quartz
Britain economy could be grinding to a halt – Telegraph
Seoul Does Stimulus With a Twist – Bloomberg
Economic Uncertainty: Germany’s Shrinking Middle-Class – Handelsblatt
The Candidate Who’s OK With Rape and Death Squads – Vice News
Conspiring bankers successfully manipulated the housing market – OC Housing News
Easy Money Isn’t the Answer for Japan – Bloomberg
Can governments offset helicopter money – mainly macro

 
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