Real estate

Frontrunning: August 12

  • Stocks Hit New Highs, and That Could Be Just the Start (WSJ)
  • China Slows as Stimulus Impact Wanes (WSJ)
  • How the China Shock, Deep and Swift, Spurred the Rise of Trump (WSJ)
  • Italian Economy Unexpectedly Stagnates in Threat to Renzi (BBG)
  • Clinton disparages Trump's economic plan, vows to help workers (Reuters)

Futures Rise, Global Stocks Flat After Ugly Chinese Economic Data

One day after all three US indexes hit record highs for the first time since December 31, 1999, US equity index futures, European stocks and Asian equities are little changed after the Nikkei jumped on the back of a Yen weakness, while China reported disappointing economic data and the PBOC suggested that the flood of new debt is slowing which pushed Chinese stocks higher by 1.6% on hopes of more stimulus.

Back To Square One: Why The Financial System Needs To Reset

"Zero interest rates and negative interest rates and Europe and Asia are a huge signal that we are almost at the point where central banks have lost their tools to perpetuate a sense of confidence, that things are cyclical.... If you were to apply the Bretton Woods model for valuing money today, gold would be up to $15,000 an ounce..."

"It's One Gigantic Lawless Crime Scene" - Exposing The Dirty Business of U.S. 'Think Tanks'

It’s important to acknowledge that the U.S. economy has morphed into one gigantic lawless crime scene. An environment in which crony insiders who add zero value to society parasitically feast on the country’s treasure. In the case of so-called “think tanks,” we have organizations receiving copious taxpayer subsidies for the privilege of screwing over the American public.

Musical Chairs

Economics is a bit like musical chairs. In a recession, the economy takes a hit and there are some casualties. Some players fail to get a chair in time and are out of the game. The game then goes on without them. The economy eventually recovers. But a depression is a different game entirely...