Nomination

"Oops." On the heels of a lackluster performance in the "losers" bracket of the first GOP primary debate last week, Rick Perry has reportedly stopped paying staffers in what may be the beginning of the end for the former Texas governor's second run at The White House.

Normally, candidates that are not part of the “establishment” do not pose much of a threat. In order to win elections in this country, especially on a national level, you need name recognition and you need lots and lots of money. Donald Trump has both, and no matter what you may think of him you have to admit that he has star power. And he was never supposed to run for president. You see, the truth is that only members of “the club” are allowed to play. The elite very carefully groom their candidates, and they are usually able to maintain a very tight grip on both major political parties. This two-headed abomination that we call a “two party system” is in reality just a one party system.

• July job gains may favor September interest rate rise (Reuters)
• It's all about Trump at raucous Republican debate (Reuters)
• The 5 Most Important Takeaways From the First Debate of 2016 (BBG)
• Republican presidential candidate Carly Fiorina wins the Web (Reuters)
• Hedge Fund Losses From Commodity Slump Sparking Investor Exodus (BBG)
• Winners and losers from the first Republican presidential debate (WaPo)
• Bush turns in workmanlike debate performance, but will it be enough? (Reuters)

Six years ago, hardly anybody outside financial circles had any idea what Quantitative Easing was – hell, many within financial circles had no idea what QE entailed. The success of the narrative created around QE; that it is the mythical ‘free lunch’ that we all intuitively know can’t exist but secretly hope does, has played perfectly to the public and now, having endured for two electoral cycles, the next wave of politicians also believe it will have no consequences and are actually using it when planning the message they feel will endear them to the electorate. What plays better than free money?

Having a security clearance comes with a certain amount of responsibility and those who are privy to potentially sensitive information are expected to exercise good judgement. In other words, whether or not the information carried a giant red "top secret" stamp isn’t the relevant question, nor is "no harm no foul" a legitimate after the fact defense. And that, apparently, is the difference between a Clinton and say a Manning or a Snowden - that is, holding Hillary (or any other member of what Jimmy Carter would call America’s "political oligarchy") to the same standards as everyone else turns out to be an uphill battle.

Thank you @mcuban for your nice words. I am rapidly becoming a @dallasmavs fan! https://t.co/sLXkCh9qfg

— Donald J. Trump (@realDonaldTrump) July 28, 2015

The American political class has failed the country, and should be fired. That is the clearest message from the summer surge of Bernie Sanders and the remarkable rise of Donald Trump. But can Trump win?

• Chinese shares tumble 8.5 percent in biggest one-day drop since 2007 (Reuters)
• Japan’s Economy Shrank Last Quarter, Top Forecaster Says (BBG)
• Creditor teams in Athens to work on third bailout (AFP)
• Tsipras’s Paradox Is Six Months of Pain and Enduring Popularity (BBG)
• Goldman-Backed Instant Messaging Company Seeks New Investment (WSJ)
• Best Buy will sell the Apple Watch on August 7th (Engadget) - when is it coming to Dollar General?
• Senate votes to revive Ex-Im (Hill)
• U.S.-Turkey Deal Paves Way to Set Up Buffer Zone in Northern Syria (WSJ)

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.

If the Fed is concerned that a rate hike cycle might exacerbate the supposed drag on the economy exerted by the strengthening dollar and that tightening when the rest of the world is immersed in competitive devaluation could create FX headwinds for US exports, then why not nominate a currency strategist to the Fed board to weigh in on the subject? Well, as it turns out, that’s precisely what the Obama administration did on Monday.

Demagogue or not, The Donald continues to gain support among Republicans for the GOP Presidential nomination, according to the latest FOX News poll, and among Republican primary voters, Trump now captures 18 percent: more than his closest competitor, Walker.

Despite losing marquee PGA and LPGA events, a bankruptcy at his Puerto Rico golf course, and the lowest ratings for his Miss USA pageant ever, Donald Trump has topped the rest of the GOP presidential field in polls for the second time in as many weeks...

Hillary Clinton is set to deliver her first economic policy speech in what is sure to be wonderfully leftist 'fair and balanced' populist attack on her financial backers (the banks) in favor of her minions (everyday Americans). The somewhat confusing leaks about the speech suggest growth through tax cuts for small business and government infrastructure spending which would be funded by higher taxes on the wealthy (small businesses) and minimuj wage hikes (ouch small businesses). Grab your popcorn (and the inflight vomit bag) and enjoy...

Donald Trump is not a pleasant man. He is egotistical, vain, bombastic, often mean-spirited. He revels in his financial superiority, which he conflates with human goodness. When he contorts his mouth into a kind of tube as he talks, you brace yourself for something outrageous—and it nearly always emerges as expected. His likability quotient, at least in terms of his public persona, is down somewhere in single digits. And yet he has just taken hold of the American political system by the neck and doesn’t seem inclined to let go anytime soon.

Businesses usually begin as productive enterprises. But almost all have zombie tendencies. Once they reach a certain size, they recognize that the best investment they can make is in politics. They hire lobbyists. They pay crony politicians. In return, government enacts rules and regulations to stifle competition. But as with so many of its activities, government succeeds when it fails. As a new industry arises, the money still flows from the cronies, while the feds get a piece of action from the new enterprises, too. And households? They grouse and groan. But the masses usually love government. They think business people are greedy SOBs. But they often hold the fellows who run the government racket in the same exalted category as saints, TV stars, and sports heroes. Don’t believe it?