Detroit

Fooled Again

The naive hopes of Bernie Sanders’ supporters - to build a grass-roots political movement, change the Democratic Party from within and push Hillary Clinton to the left - have failed. The multibillion-dollar extravaganza of our electoral Circus Maximus is part of the smokescreen that covers the ongoing devastation of globalization, deindustrialization, trade deals such as the Trans-Pacific Partnership, endless war, climate change and the intrusion into every corner of our lives by the security and surveillance state. Our democracy is dead.

Frontrunning: September 6

  • G20 a success for China, but hard issues kicked down the road (Reuters)
  • Apple’s New iPhones Arrive, as Glow Fades (WSJ)
  • Philippines scrambles to soothe tensions after insult to Obama (Reuters)
  • CNN: Nine weeks out, a near even race (CNN)
  • More Records Releases Loom for Hillary Clinton (WSJ)

Obama Admits 10,000 Syrian Refugees: This Is Where They Are Headed

Yesterday, the White House announced that the US had met President Obama’s goal of admitting 10,000 Syrian refugees into the country; it did so ahead of schedule.  So where are they going: the top state destination for refugee influx are the states of Michigan and California.

US Home Prices Suffer 3rd Consecutive Decline For First Time Since 2012

For the first time since Feb 2012, S&P CoreLogic's 20-City Composite price index declined for 3 straight months (dropping 0.07% in August, in line with expectations). The non-seasonally-adjusted annual growth rate of home prices rose just 5.13% - the slowest since since Aug 2015. San Francisco and San Diego showed the weakest growth of the 20-City composite while Portland and Seattle rose the most MoM, and Atlanta and Chicago saw the largest declines in price MoM.

Frontrunning: August 23

  • Dollar Drops on Rate Outlook as European Stocks Rise, Oil Falls (BBG)
  • Bank of Japan's rush into stocks raises fears of market distortions (Reuters)
  • With Moderate Drinking Under Fire, Alcohol Companies Go on Offensive (WSJ)
  • Merkel Says Brexit Is U.K.’s Loss While Pledging EU Results (BBG)
  • Turkey cuts rates for sixth straight month amid ratings worries (Reuters)

Frontrunning: August 16

  • World stocks edge away from one-year peak, dollar on defensive (Reuters)
  • Central Banks Could Be This Market’s Pets.com (WSJ)
  • Clinton announces transition leadership should she win in November (Reuters)
  • Oil Trades Near $46 a Barrel as Nigeria Sees OPEC Cuts Unlikely (BBG)
  • BHP Billiton Reports Worst-Ever Annual Loss (WSJ)