- Hilsenrath: Fed Appears to Hold Line on Rate Plan (WSJ)
- Europe, Asia stocks set for worst monthly drop in three years on China, Fed (Reuters)
- Beijing abandons large-scale share purchases (FT), if only for a few hours
- China’s Next Problem: Paying for Its Stock-Market Bailout (WSJ)
- Crises Put First Dents in Xi Jinping’s Power (WSJ)
- Man Group’s China Chief Said to Assist Police in Probe (BBG)
"There’s no flying beams of light, no 'pew! pew!' sound effects. But it is nonetheless a working laser cannon, and it will take your drone down."
It’s all emotional bullshit because what one hardly ever reads about from these Trumpeteer Marionettes is an actual discussion about Trump on the issues. It’s more important to squeeze out yet another orgasmic fountain of joy because he threw out some Univision reporter; “Oh, look! Isn’t zee Donald just Wunderbar!!” Screw that. So, let’s look at what The Donald believes... by his own words.
Too big to control, too volatile to be predictable, and too full of contradictions to achieve stability, China is a society that is on the edge of coming completely unglued. And so, appealing to the typical American conceit that nothing that ever happens to us is our own fault, scapegoating is a reflection of widespread economic ignorance. For the reality is that the policies of our own rulers limn those of the Chinese: pump-priming the currency, flooding the US economy with money, and creating massive bubbles is something they learned from us. And those policies are having the same effect here as they are having in China.
A half-century ago, America - and then the world - was rocked by a mighty stock-market crash that soon turned into the steepest and longest-lasting depression of all time. Those who ignore the lessons of history are doomed to repeat it - except that now, with gold abandoned and each nation able to print currency ad lib, we are likely to wind up, not with a repeat of 1929, but with something far worse...
News That Matters
"The hedge fund guys didn't build this country. These are guys that shift paper around and they get lucky. They are energetic. They are very smart. But a lot of them - they are paper-pushers. They make a fortune. They pay no tax. It's ridiculous, ok?"
At a certain point, we suppose Joe Biden took a look at the state of the 2016 race for The White House and thought: "why not me?"
America’s next president could be eased into office not just by TV ads or speeches, but by Google’s secret decisions, and only a few obscure researchers would know how this was accomplished.
...Perhaps the most effective way to wield political influence in today’s high-tech world is to donate money to a candidate and then to use technology to make sure he or she wins. The technology guarantees the win, and the donation guarantees allegiance, which Google has certainly tapped in recent years with the Obama administration...
In the end, Trump is what America had earned. Trump is what America deserved. Trump was our reckoning. And while his rise to power was born of our failings, it also forced us to find our strength. It’s amazing how adaptable we are as human beings, isn’t it? Trump saved us.
"What, with a cloth or something?," Democratic frontrunner Hillary Clinton said earlier this week, in a sarcastic and fairly condescending reply to a reporter who pressed her on whether she had attempted to wipe her private e-mail server clean before turning it over to the FBI. That was the second time in a week that Clinton has attempted to deflect questions about the server with a dark mix of humor and disdain, and it’s backfired both times. Now, the Clinton campaign has admitted that in fact, classified information was stored on the Democratic frontrunner's home e-mail server.
Given that self-regulation worked so well in the financial services industry, The United Nations, according to AP, has decided to allow Iran to use its own inspectors to investigate a site accused of being used to develop nuclear bombs. While the Obama administration was "confident in the agency's technical plans for investigating the possible military dimensions of Iran's former program," John Cornyn of Texas, the second-ranking Republican senator, said of the 'secret agreement' - since The UN normally does this work itself - "trusting Iran to inspect its own nuclear site and report to the U.N. in an open and transparent way is remarkably naive and incredibly reckless."
The stunning imbroglio of Hillary Clinton's path to The White House took another absurd twist tonight when just hours after The FBI confirmed an "attempt" was made to wipe the hard drive of her email server (or in other words, remove all data on it), the former secretary of state seemed to mock the claims in a press conference. When asked specifically if she wiped the server, she 'ummed' and 'ahhed' then jokingly said "what with a cloth or something?"