Tuesday 16 July 2019
Abigail Disney visited Disneyland undercover. She is 'livid' about what she saw - CNN Business.
Ikea is closing its only US factory and moving production to Europe - CNN Business.
Goldman Sachs' sales slump, but it remains the king of Wall Street - CNN Business.
Nissan launches electric pickup truck with 250-mile range and nutty price through JV in China - Electrek. "The price is unknown, but it is expected to be extremely cheap — maybe even 130,000 yuan ($18,900 USD) after subsidies."
On Twitter: Chris Becker @chrislbecker: 'IMF says stablecoins pose a threat to "weaker currencies", and forces an improvement of domestic monetary policies. If all crypto achieves is to force better monetary policy to benefit people around the world, it's a great achievement.' It depends on whether the currency, like Facebook's Libra, is pegged to the strongest currency in the world, or will lose value without paying any interest. If Zimbabweans could invest in the Libra, it would cause an ouflow of Zim dollars, so the Libra would be banned.
On Twitter: St. Louis Fed @stlouisfed: "The FRED Blog: Bond debt among U.S. nonfinancial firms has grown about 6% on average year over year in almost every quarter since 2014": chart
On Twitter: Holger Zschaepitz @Schuldensuehner: "Good Morning from Germany where financial assets of households have hit new record. Wealth in form of cash, bonds, deposits & insurance claims reached a total of €6,170bn, on avg €74k per German citizen at the end of Q1, up 2.6%. Most of money invested in low-interest products." bargraph. That is +3.3% per year growth the last 20 years. It is not possible to grow asset wealth without a commensurate rise in economic and inflation growth. The contribution of the latter is usually the biggest.
On Twitter: Brad Setser @Brad_Setser: "After having criticized the IMF for its lax "surveillance" of surplus countries, I want to join @adam_tooze in commending the IMF for its latest report on Germany - and to join the IMF in calling for Germany to implement policies to "restore" household purchasing power": chart.
On Twitter the symbol of a bird house is apparently used as home link, because the website is all about birds tweeting.
Jeff Bezos flaunts obscene wealth with $80 million Manhattan penthouse purchase - WSWS.
On Twitter: Have I Got News For You: "As it’s revealed 6 million Brits tuned in to a single episode of Love Island, the EU says we can leave immediately with whatever deal we want."
On Twitter: Prof. Steve Hanke @steve_hanke: "#Venezuela’s economy, in typical #socialist fashion, is failing. The Bolivarian Republic is the world’s only country currently experiencing a hyperinflation. Measured for today, VNZ’s inflation rate is 28,442%/yr." chart
Virtual Hyperloop concept offers glimpse into future of travel - TechCentral.
Monday 15 July 2019
This Record-Setting Tesla Model S Has 900,000 Kilometers On Odometer - InsideEVs. ".... is reportedly running on its second battery pack. "
Jim Cramer: Even if Slowdown Hits, You'll Look Good With These Six Stocks - Real Money.
Trump’s currency war rhetoric persists as Powell prepares to act - FT. "The strong dollar is the result of the US outperforming other economies and the fact that its interest rate is higher than in most other developed nations". Higher interest rates are usually associated with higher inflation, which would negate the benefit through a weakening currency. The US dollar is being held strong by import restrictions and subsidies. Ownership and management (white collar work) is being concentrated in the US, which means high average income. Manufacturing (blue collar work) is being moved elsewhere.
On Twitter: Otavio (Tavi) Costa @TaviCosta: "SPY just had its lowest daily volume in almost 2 years! Average volume is now as low as it was at the peak of the housing bubble and prior to the last two sell-offs in 2018. Unusual calmness & breadth deterioration. Not a good set up for record overvalued stocks.": graph.
Microsoft, Adobe and SAP are making progress in their campaign against Salesforce - CNBC.
China Sets Commodities Records in Good Sign For Growth - Bloomberg.
Citi Trading Revenues Tumble, But EPS Beats After Aggressive Cost Cuts - Talk Markets.
From 24 July 2017: Meet the Man Who Has Lived Alone on This Island for 28 Years - National Geographic.
Police launch mass arrests on Bastille Day in Paris - WSWS.
Loose RNA molecules rejuvenate skin, researchers discover - MedicalXpress.
New study on the immune system of plants: It works differently than expected - Phys.org.
The UK wants to put electric car charging points in all new homes to support EV adoption - Electrek.
Sunday 14 July 2019
Junk In Your Pension. A Side Effect Of Financial Repression - DanielLacalle.
They’re Running Toward the Fire - Hussman Funds.
An Idiot's Guide To Destroying Your Country In Six Easy Steps - Zero Hedge.
Nearly all of California’s crises are worse in its Latino communities, new report says - LA Times
A former US president still has more followers than the sitting president. Barack Obama's followers have actually increased:
Barack Obama @BarackObama, former USA president 107M
Donald J. Trump @realDonaldTrump, sitting USA president 69.1M
This raises the question: What happens to the account of deceased Twitter users? Fifty years from now you could be followed by mostly dead people on Twitter, but they probably won't leave comments.
A tiny incident at Paris airport that speaks volumes about our Europe – the whole story - Yanis Varoufakis. What happened to the philosophical attitude of the Greeks?
Saturday 13 July 2019
Taylor Swift joins historic line-up of artists v record labels - Financial Times.
My Advice to the Fed on “Low Inflation”: Use a Different Index for Crying Out Loud and Tell the BLS to be Less Aggressive with “Hedonic Quality Adjustments” - Wolf Street.
A Long-Term Look At Inflation - Saturday, June 13 - Talk Markets. BLS could also be an abbreviation for Bulls**t.
A Third Of All European IG Bonds Have Negative Yields - Zero Hedge.
Is The Market Rally Sustainable? - Talk Markets.
UnitedHealth: One Of The Top Buys In The Dow Jones Industrial Average - Talk Markets.
The 7 Money Lessons You Should Already Know - Daily Reckoning. Investments are now complicated by high unreported inflation, and stock markets dominated by wild speculation.
Police crack down on undocumented workers occupying Paris Pantheon - WSWS. "Yesterday afternoon, 700 undocumented African workers occupied Paris’s historic Panthéon building, chanting “Black vests” and demanding recognition of their right to reside in France".
European regulator uncovers autopilot problem on Boeing 737 Max - WSWS.
Twitter removes account of Assange defence organisation - WSWS.
FTC's $5B Fine Is Chump Change for Facebook, Bellwether for Tech Regulation - The Street.
‘I Love Lucy’ stars Lucille Ball, Desi Arnaz remained 'passionate' for each other after divorce, says daughter - Fox News.
On Twitter: Greg Abbott @GregAbbott_TX: "Multiple reports say Twitter categorized my Blue Angels post as sensitive. Just another way Twitter is erecting challenges for conservatives and for American institutions. My office is calling Twitter officials for a meeting. Greater regulation of Twitter is on the table.":
Greg Abbott @GregAbbott_TX: "I’ve always loved watching the Blue Angels. They inspire the precision and power that makes the U.S. military the mightiest in the history of the world.":
Terri Green @TerriGreenUSA: "ICYMI: The Blue Angels flew over Pensacola Beach in a dress rehearsal yesterday. You can catch them again today at the Pensacola Beach Air Show beginning at noon. Blue Angels fly at 2 p.m.": This media may contain sensitive material. Your media settings are configured to warn you when media may be sensitive..
Friday 12 July 2019
Russian highway touted to be ‘new Silk Road’ - Getaway. "... in a bid to connect Europe and China." Major event in the history of the planet.
“Where the American Dream Goes to Die”: Changes in House Prices, Rents, and Incomes since 1960 by Region & Metro - Wolf Street.
Investor who nailed the 1987 crash ditches stocks and bonds and here’s why - Market Watch.
This stock-market canary has keeled over - Market Watch. The S&P 500 index is mainly driven by a minority of growth stocks.
US second-quarter earnings poised to reveal profit recession - FT.
U.S. Threatens China With Sanctions On Iranian Oil Imports - Oil Price.
$32 Million Swiped From Cryptocurrency Exchange in Latest Hack - Bloomberg. Blockchain does not work.
Trump’s ‘Social Media Summit’ was a celebration of conspiracy theorists - Engadget.
Bernie Sanders is riding in a caravan to Canada with diabetics to get more affordable insulin - Market Watch.
Apple pays Samsung $770 million display penalty and 'doesn't trust Korean suppliers' - PhoneArena.
On Twitter: Dr. Kash Sirinanda @kashthefuturist Ingenuity!": video.
India Lauching to the Moon in Three Days - Next Big Future.
Thursday 11 July 2019
Opinion: The Fed doesn’t have to cut rates — but it can in order to help the middle class - Market Watch. "That real median incomes have now risen 3% over 20 years".
America’s First Cannabis Café Featuring 'Budtenders' to Open in L.A. - Hollywood Reporter. Finally some progress. The fifth industrial revolution, in which computers do all the work, and humans are all stoned.
Bed Bath & Beyond Plunges To New Lows After Earnings: Here's What The Street Is Saying - Talk Markets.
BOJ Trapped - How will the Nightmare End - Armstrong Economics.
Danish History Professor Says It's Time To Build A Wall Around Europe - Zero Hedge.
Tencent created QQ Coin long before Facebook’s Libra - Quartz.
In India, toddlers are starting to write computer codes before they can talk - Quartz. The rest of the world is in trouble now.
Improve Your Oatmeal by Treating It Like Risotto - Lifehacker.
Trump says he doesn't like bitcoin. He prefers whole coins.
Crypto currencies, like bitcoin, are obviously just pyramid (ponzi) type rackets, but the same wild speculation can be seen in stock market prices.
Wednesday 10 July 2019
Top 5 Resort Hotels in the South Pacific - Travel + Leisure.
Do Longer Lives and Fewer Babies Affect the Natural Interest Rate? - St Louis Fed. In principle, older people won't be able to live on interest because there are fewer young people who want to borrow money to build houses. However, debt is actually growing at a very hgh rate, because it is apparently not being used for capital expenses, like housing, but to cover running expenses, which will not provide the future income with which the debt can be repaid.
Gulls could pass on drug-resistant bacteria to humans, say scientists - MedicalXpress.
YouTube Announces Some Changes to Its Infamously Awful Copyright Infringement System - Gizmodo.
The 15 Best Islands in the World - Travel and Leisure.
China autos brace for another annual contraction, sales shrink in June - Reuters.
LG Chem To Increase Battery Sales Fivefold By 2024 - InsideEVs.
Australian police monitoring journalists’ travel and Internet data - WSWS.
Party planner’s surprise: Just Donald Trump, Jeff Epstein and 28 ‘calendar girls’ - Market Watch.
Tuesday 9 July 2019
Levi Strauss tumbles after missing profit estimates, blames the cost of its recent IPO (LEVI) - Business Insider. "$29 million". Why does it cost so much?
On Twitter: Lisa Abramowicz @lisaabramowicz1: "The definition of insanity is doing the same thing over and over again and expecting a different result": ECB Seen Readying the Pumps for Return to Massive Bond Buying - Bloomberg.
On Twitter: Gold Telegraph @GoldTelegraph_: "RETWEET if you think we should #EndTheFed. Here is all the proof you need": chart.
IBM closes its $34 billion acquisition of Red Hat - CNBC. At a PE of $190/$2.33 = 82 and price/sales $190/$18.1 = 10.5.
Chinese Chicken Farmer Expects 2,700% Profit Leap - Bloomberg.
Nearly 2 dozen governors join California in opposing Trump’s call to relax vehicle mileage standards - Market Watch.
On Twitter: Squawk Box @SquawkCNBC: "Should the Fed be independent? Here’s @steveliesman's report" What should be independent is the measurement of inflation.
Danish police arrest 24 drunken scooter drivers - Getaway.
Marriott facing lawsuit over ‘deceptive’ resort fees that allegedly harm consumers - Market Watch.
Monday 8 July 2019
Morgan Stanley: "We Are Putting Our Money Where Our Mouth Is And Downgrading Global Stocks To Sell" - Zero Hedge.
"Get Used To It" - Sweden Is Experiencing A "Small Scale War" - Zero Hedge. This has become a common trend in the world, as a result of voters keeping the same incompetent parties in government.
UN rights chief ‘appalled’ by conditions in US for migrants - The Star.
This couple dreamed about frugally traveling around in a van — until reality smacked them in the face - Market Watch.
That Big California Earthquake Left a Scar That's Visible From Space - Gizmodo.
Sunday 7 July 2019
41 Inconvenient Truths on the "New Energy Economy" - FEE.
Machine learning helps robot harvest lettuce for the first time - New Atlas.
Saturday 6 July 2019
On Twitter: St. Louis Fed @stlouisfed: "Chart of the week: U.S. #trade deficit rose 8.4% to $55.5 billion in May, a five-month high http://ow.ly/bJrm30p4yA5": chart. The trade deficit went up under Trump.
Stagflation Like Never Before - Talk Markets.
On Twitter: Henrik Zeberg @HenrikZeberg: "Bearish #Gold due to the timing of events! My thesis is, that we will have DEFLATIONARY bust, which will send Fed and CBs in FOR REAL. When they are starring into the ABYSS is where we will see CBs deliberately try to crush their Fiat currencies. We are not there yet #HZupdates." There is only deflation so that governments can report real economic growth. Nominal economic growth have slowed to zero or less. The official inflation rate is either falsified, or it measures standard of living, that is consumers have switched to cheaper products.
The increase in the gold price is much more apparent in countries with high inflation. In US$ it is still recovering from the drop after a spike in 2011. It is now showing an uptrend. The price is way to volatile to be used as a measure of inflation, but beats inflation over a very long time span. If you pay too much for gold, you could have no growth for decades. Below is a FRED chart of the gold price in blue, and inflation in red on an arbitrary scale. It almost looks like the market decided after the Big Recession of 2009 that debt and inflation will rise, and pushed the gold price up to a new level in anticipation.
Friday 5 July 2019
Diesel Death-Spiral Drives UK Auto Sales to Five-Year Low - Wolf Street.
Distortion: The Most Deceitful Time In A Cycle Is The End - Zero Hedge.
Stocks retreat from record levels as strong jobs report puts interest-rate cuts in question - Market Watch.
Iran should seize British oil tanker in retaliation, says former Guard commander - LA Times.
President Maduro Orders The Bank Of Venezuela To Accept Petro Crypto - Zero Hedge.
New York Times falls for “obesity probiotic” hype - Arstechnica.
Discovery reveals prolific ability of Schwann cells to generate myelin - MedicalXpress.
On Twitter: jeroen blokland @jsblokland: "Uh-oh! #Germany's Manufacturing orders fell 8.6% YoY in May, the most since September 2009": chart.
Thursday 4 July 2019
On Twitter: Tracy Alloway @tracyalloway: "Buybacks are on pace for a record this year, according to BAML's corporate client data. That would suggest more than $1 trillion of buybacks in S&P 500 stocks in 2019 (BAML's corporate clients usually represent around 8% of S&P 500 buybacks)".
Legendary gasoline-beating 1898 Riker Electric car going to auction for first time - Electrek.
YTD Job Cuts Highest Since 2009 - Talk Markets.
Court says Amazon could be liable for third-party vendors' products - Engadget. Amazon has removed all historic orders from its website. Once consumers experience bad products from an online website, they tend to stay away. Physical stores usually check the quality of the products they sell.
Weather-Induced Evacuation Ordered Near U.S. Capitol Before Trump July 4 Speech - The Hollywood Reporter. He allegedly dodged the draft. It is typical of people who never did military service to glorify the military.
How to beat Wall Street at its own game - Banyan Hill. It is the big money that creates big share price movements, and the ridiculously expensive shares. Trying to go against big money can be an expensive mistake. A cheap, small stock might remain so for a long time.
5 Countries Where You Can Retire by the Beach for Less Than $1,500 a Month - Travel and Leisure.
Tesla’s chance to be allowed to sell in Wisconsin is stopped at last second by the governor - Electrek. This a country that is supposed to have a free market, and a constitution to protect basic rights. It might be the only country in the world where a state or province can interfere in the free market in this way.
‘Meatless meat’ defenders sue Mississippi for violating free-speech - Market Watch.
The deputy mayor of Paris says tourist buses are “no longer welcome” - Quartz.
On Twitter: Barack Obama @BarackObama: "Happy Fourth of July, everybody! This is always a great day in the Obama family: a chance to celebrate America—and Malia’s birthday, too. Hope all of you are able to get some time with friends, family, and fireworks.": photo. As president and during his election campaign he used to surround himself with a forest of US flags. Was he overcompensating because he wasn't born in the US?
Calculation Shows We Could Add a U.S.-Sized Forest to the Planet to Fight Climate Change - Gizmodo. Given enough rain, one would expect for plant growth to expand everywhere until all the CO2 is absorbed.
On Twitter: Adam Tooze @adam_tooze: "US construction spending is tumbling. Both residential and commercial indices show the worst declines in years. … sorry. Happy 4th July! @SoberLook": chart.
6.4 Magnitude Earthquake Rattles Southern California - The Hollywood Reporter.
The Swiss luxury getaway of Cameroon’s president Biya has become a hotbed of conflict - Quartz.
Wednesday 3 July 2019
Intergenerational warfare: Who stole the millennials’ future? - FT.
On Twitter: American Values @Americas_Crimes: "On this day in 1988, the US Navy committed a major act of terror by shooting down an Iranian airliner, killing 290 civilians (including 66 children). The US attempted to cover-up its responsibility for the atrocity & has never apologized. Many of the bodies were never found. In 1990, the US awarded the Legion of Merit to the commander of the Vincennes and the officer in charge of anti-air warfare for “exceptionally meritorious conduct in the performance of outstanding service” during the period it shot down Iran Air Flight 655."
How The Fed Wrecks The Economy Over And Over Again - Zero Hedge.
MAD Magazine to Effectively Shutter After 67 Years - The Hollywood Reporter.
On Twitter: TheStreet @TheStreet: "Breaking - Kudlow says trade talks with China could begin in the coming week". It was supposed to end now.
Bond Yields Tumble as Trump Pushes Doves for Fed Board, EU Pegs Lagarde at ECB - The Street.
700,000 People Ordered to Evacuate as Rain Lashes Japan - Bloomberg. It is a pity it didn't happen earlier during the G20 meeting.
U.S. Slaps Import Duties of More Than 400% on Vietnam Steel - Bloomberg.
Radio waves from the cosmos - Popular Mechanics SA. "Scientists reckon that the amount of electromagnetic energy used is equivalent to the amount of energy released by our sun over a period of 80 years". Which is why it is nearly impossible to receive broadcasts from aliens the distance is too great.
Colorscape Festival Drops Peter, Paul & Mary's Peter Yarrow Over 1969 'Indecent Liberties' Jail Sentence - Billboard.
Trade War Has Created Demand for Chinese Made Chips - Next Big Future.
Tuesday 2 July 2019
On Twitter: Judy Shelton @judyshel: "I am very honored and grateful for the statement from President Trump and will strive to support the U.S. pro-growth economic agenda with the appropriate monetary policy. Unlimited potential beckons for America and the world".
On Twitter: Donald J. Trump @realDonaldTrump: "I am pleased to announce that it is my intention to nominate Judy Shelton, Ph. D., U.S. Executive Dir, European Bank of Reconstruction & Development to be on the board of the Federal Reserve. Judy is a Founding Member of the board of directors of Empower America and has served on the board of directors of Hilton Hotels."
On Twitter: Christine Lagarde: "I am honored to have been nominated for the @ECB Presidency. In light of this, and in consultation with the Ethics Committee of the IMF Executive Board, I have decided to temporarily relinquish my responsibilities as IMF Managing Director during the nomination period."
New ECB President, Christine Lagarde, Praises Negative Interest Rates - Misk Talk. No that Eurozone debt have reached peak levels, nobody else wants the job. From 19 Dec 2016: Christine Lagarde avoids jail, keeps job after guilty verdict in negligence trial - The Guardian.
Tesla Delivers Record-Smashing 95,200 Model 3, S & X Globally In Q2 - InsideEVs.
879% drug price hike is one of 3,400 in 2019 so far; rate of hikes increasing - Ars Technica.
Chinese stocks are doing something they haven’t done in 20 years - CNBC.
Rich get richer, everyone else not so much in record U.S. expansion - Reuters.
Corporate Debts Are Today’s Worst Assets - Talk Markets.
Technically Speaking: The Bull Is Back, Bonds Say “No” - Real Investment Advice.
Barely anyone is upgrading to Windows 10 - Mybroadband.
Violent storms leave their mark to end France heatwave - The Connexion.
Scientists shrink stroke damage in mice by calming immune cells outside brain - MedicalXpress.
No City for old men: Traders battle rampant ageism - FNLondon.
The average millennial's net worth is shockingly low - USA Today.
Gut microbes protect against flu virus infection in mice - MedicalXpress.
Brendon Urie Slams Scooter Braun Amid Taylor Swift’s Drama: ‘Toxic Bulls**t’ - Huffpost. "She Has No Legal Recourse": Why Taylor Swift Won't Sue Scooter Braun to Get Her Masters - Hollywood Reporter. In brackets: "She could also refuse to play her old music in live shows, thus diminishing the value of the songs".
Monday 1 July 2019
13 Reasons U.S. Real Estate Market Is Stronger Than You Think - The Basis Point.
S&P 500 closes at new record as chipmakers get a boost from US-China trade truce - CNBC.
On Twitter: Nomi Prins @nomiprins: "The bigger the rise, the harder the fall": The never-ending boom - Axios. Stock markets and other asset bubbles usually do not fall back to the level they started from because of inflation. The higher stock markets rise, the higher inflation will be.
Companies are warning that earnings results are going to be brutal - CNBC.
As Megacaps Soar, A Vast Majority Of Public Companies Are Struggling To Rebound - Zero Hedge.
Ebooks Purchased From Microsoft Will Be Deleted This Month Because You Don't Really Own Anything Anymore - Gizmodo.
Hydrogel based water purification system 12 times better than current systems - Phys.org. Any sponge material that increases surface area might help evaporation.
GDP Begets More GDP (Positive Feedback) - Talk Markets.
What Greatest Ever Trumpian Economy? Many U.S. Workers Can't Even Afford Rents - Davis Stockman's Contra Corner.
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