- Virginia TV journalists killed by suspect with 'powder keg' of anger (Reuters)
- Policeman shot to death and three women stabbed, one fatally, in Louisiana (Reuters)
- China Intervened Today to Shore Up Stocks Ahead of Military Parade (Reuters)
- Margin Calls Bite Investors, Banks (WSJ)
- "Computer glitch" is preventing dozens of mutual funds, ETFs from promptly pricing their securities (WSJ)
- Oil prices rise more than 4 percent as equities rally (Reuters)
- Oil Industry Needs Half a Trillion Dollars to Endure Price Slump (BBG)
News That Matters
The size of Paulson's stake is unknown, however we do know that the top 20 shareholders top out at about $150 million in SYNN holdings. Assuming a $200 million Paulson stake, that means that Paulson's paper losses were likely $30-40 million today (depending on the price he build up his stake), losses which may have been booked if Paulson decided to cash out.
News That Matters
- China’s Central Bank Cuts Interest Rates (WSJ)
- Chinese Stocks Crash Again to Extend Biggest Plunge Since 1996 (BBG)
- China cuts rates, reserve ratio to aid economy as stocks sink (Reuters)
- Wall St. suffers worst day in four years, S&P confirms correction (Reuters)
- Europe's Stocks Head for Best Day Since 2011 (BBG)
- Market turmoil clouds Fed rate outlook (FT)
- For All Its Heft, China’s Economy Is a Black Box (WSJ)
News That Matters
There is no such thing as objective science when a researcher receives tens of thousands of dollars from the GM producers themselves, then goes on to promote their financiers’ products. Corporate collusion between government bureaucracies and educational institutions has become a serious issue in the U.S. that has corrupted objectivity in nearly every sector of American life.
Most Americans have no idea that the U.S. corporate fraudulent government can legally lie to you every single day to get you to believe whatever they want you to believe and then turn around behind closed doors and laugh at you for believing their legal lies. Try telling that to most Americans and see how they look at you. This is another example of a hard-to-handle lie that is pushed on Americans every day; and the average working American has no time to truly wrap their heads around this stunning fact so they bury their heads in the sand instead, unwilling to look at the issue because they fear they won’t know what to do with the information.
Despite all her proclamations of new fairness doctrines, false promises of her truthfulness, and exclamations of 'everyday Americanism' Hillary Rodham Clinton is seeing her favorability ratings collapse. As populist as she dares to be, in the face of her donating captors, it appears the everyday American just isn't buying it as Gallup reports just 43% Americans view her favorably (down from 66% just a few years ago) while none other than Bernie Sanders is bounding up the popularity ladder, rising from 12% to 24% favorability in recent weeks.
Here is another example why the stock market with its annual return of 7% is for chumps. If you want to make the kinds of quadruple digit returns on investment, you better buy yourself a congressman. As for the general American population, well: your food may be every so slightly more mutated, but the good news is that it will remain as cheap and unhealthy as always.
The pantsuit revolutionary is at it again. Once again demonstrating her populist chops by employing the services of lobbyists to bundle millions in campaign funds. It’s no wonder opinion polls on her have been plunging as of late.
Congress Votes Today to Override State Law and Block Americans’ Right to Know If Our Food Has Been Genetically Modified
- Gold Plunges to Lowest Since 2010 (BBG)
- In Greek crisis, one big unhappy EU family (Reuters)
- Greek Banks Reopen Their Doors (WSJ)
- Greek reshuffle hints at autumn election (FT)
- Angela Merkel signals conditions for Greek debt talks (FT)
- Dollar hits three-month high on rate view, pans gold (Reuters)
- History Shows Iran Could Surprise the Oil Market (BBG)
- ‘Charlie Hebdo’ Will Cease Publishing Cartoons of Prophet Muhammad (Newsweek)
- Greece licks wounds after bailout vote, ECB move expected (Reuters)
- Lose-Lose: Pushing Greece Out of Euro Is Costlier Than Write-Off (BBG)
- EMU brutality in Greece has destroyed the trust of Europe's Left (Telegraph)
- Schaeuble Shrugs Off Greek Vote Saying Euro Exit Is Best (BBG)
- Merkel’s tough tactics prompt criticism in Germany and abroad (FT)
- Investors Get Caught in Oil’s Slippery Wake (WSJ)
- Obama Girds for Battle With Congress on Iran Deal (WSJ)
Yes, authentic capitalism still exists, but it's been relegated to the sideshow. The Big Tent with the Big Bucks is all finance/cartel/state/crony capitalism, and financialization is devouring all the other players. With authentic growth scarce, there's no other way to reap huge profits but cannibalism.