Services Data Disappoints: Suggests "No Signs Of US Economy Moving Up A Gear" In Q3

Following Monday's confusing manufacturing data (PMI up, ISM down), today's Services economy data suggests growth is just as confused and muted as PMI flatlined from June with activity at its weakest in 5 months and new business slowing down. ISM Services missed expectations (dropping modestly to 55.5 from 56.5) with employment dropping from 52.7 to 51.4 (despite a bump in new orders). But, as Markit concludes, "those looking for signs of the US economy moving up a gear in the third quarter will be disappointed by the PMI readings for July."

There Is No Asset Bubble?

Does an asset bubble currently exist? Ask anyone and they will tell you “NO.” However, maybe it is exactly that tacit denial which might just be an indication of its existence.

What Pokémon Go Teaches Us About Capitalism

Though millennials have tended to explicitly reject capitalism at ballot boxes around the world, their embrace with Pokémon Go betrays an unexpected acceptance of inequality as well as a penchant for playing the odds in red-in-tooth-and-claw competition.

Central Banks Are In A Lose-Lose Situation: Low-Rate-Policy "Has Rendered The System Profoundly Fragile"

"...abandoning the low interest rate policy would likely trigger a severe recession... but, continuing this policy would distort and corrode the economic structure even more, which would jeopardize the business model of pension funds, insurers and banks, and further inflate the real estate and stock market bubbles. The low interest rate policy has rendered the system profoundly fragile, with central banks virtually in a lose-lose situation."

One Trader Explains Why He Is "Unplugging"

"My doctors were very clear on this: Unplug before life pulls the plug on you. And I’m listening. ... But perhaps this is the larger message: It’s time to focus on real life not cyber life. And after all, how many years of one’s life can/should one spend day in and day out on cyberspace? Adios Twitter, it’s been real. I’m unplugging..."

Gold Passes A Major Milestone

As of month-end today, gold is up over 27% from its Dec-15 lows. This a major milestone – any time gold has managed a move of at least 25% off a major low, it has continued higher every single time with incremental gains ranging from 21%-412%, with the average totaling 175%.

17,359 Americans Have Renounced Citizenship Under Barack Obama

Another 508 people renounced their US citizenship last quarter according to documents published this morning by the Internal Revenue Service. This brings the total number of US ‘renunciants’ under the Obama administration to 17,359.

Exposing Hillbama's Big Lie: The Central Issue In The U.S. Presidential Campaign

Obama’s ‘mono-polar world’ is a fiction, and the sooner that he and his Big Lie can be exposed (by the Western press, to the Western publics), the safer everyone will be. Discomforts on the parts of those who have promulgated and propagandized that lie will be vastly less than the disastrous alternative, which would destroy the world for everyone.