Following yesterday's disappointment in manufacturing data, Markit's latest survey confirms the Services industry slowed in July as higher prices are hurting margins and business expectations hit a 6-month lows. Worse still, ISM's Services survey tumbled with a big miss to its worst since Aug 2017.
Facing the brunt of President Trump's trade war with China, which threatens some $34 billion of US products and agriculture with duties, the White House has announced a $12 billion "short-term" stimulus plan to help US farmers hurt by China's "illegal" retaliatory tariffs.
"I’m not saying that Bitcoin et al. are ready to take over the world right now... but Bitcoin is the catastrophic mutation of money borne out of necessity to break the monopoly governments have on the issuance of new monetary units."
Tesla is currently stuck in “production hell” with Model 3 delays, as Elon Musk describes it. But Winston Churchill had a great quote about facing what seems like insurmountable adversity: “If you’re going through hell, keep going”.