Financial Markets and Economy
We're witnessing a 'paradigm shift' between the dollar and the Fed (Business Insider)
We're witnessing a "paradigm shift" between the Fed and the dollar, according to an HSBC FX Strategy team.
In the past, an initial rate hike would more or less imply that there would be a few more in the near future.
Brexit might trigger run on Britain's record financial debts, S&P warns (Telegraph)
Britain is the world’s most vulnerable state on a key measure of short-term debt and credit markets might suddenly seize up if voters opt for Brexit, Standard & Poor’s has warned.
Wal-Mart Is Getting Ready To Eliminate The Last Standing Neighborhood Store In America (Forbes)
In fighting Amazon, Wal-Mart is getting ready to finish up what started decades ago: elimination of the last standing neighborhood store.
Why inequality is worse for your wallet than a weak economy (Washington Post)
Two trends have socked American workers over the past three decades. The economy has grown more slowly than it did in the decades after World War II, and the growth we’ve seen has disproportionately boosted the incomes of the very rich. Both trends are important, but in a new paper, a liberal economist argues that one of them was far more consequential for the vast majority of Americans.
Tough times coming as debt soars, warns economist (Radionz)
Record high household debt levels are not sustainable, warns a leading bank economist.
Tesla’s weird week (Tech Crunch)
It’s been a weird few days for Tesla.
80% of self-employed people in Britain live in poverty (Independent)
Freelancers, the gig economy, the self-employed army; whatever you call them, the numbers are on the rise.
Loan Delinquencies may be Signaling Recession (Wall Street Examiner)
On June 2, 2016 the Bureau of Labor Statistics (BLS) stunned economic prognosticators and the financial media when it reported that 38,000 new jobs were created in May. The consensus forecast of Wall Street economists was 160,000 new jobs, with estimates ranging from 110,000 to 219,000. Even the most pessimistic forecast turned out grossly optimistic!
We Don’t Have a Wage Problem; We Have a Money Problem (Schiff Gold)
On June 7, the Washington DC Council voted to raise the city’s minimum wage to $15 per hour. DC joins New York and California, along with a number of major US cities that have made the move to boost the minimum wage over the last year.
Morgan Stanley Asked Analysts How Companies Were "Exceeding Estimates", The Answer Is Disturbing (Zero Hedge)
As we know, companies beating analyst estimates isn't really a big deal. After all, analysts need to maintain access to management and ensure everyone is sending buy orders through the brokerage, so it makes little sense to set expectations too high.
Politics
Democrats Will Learn All the Wrong Lessons From Brush With Bernie (Rolling Stone)
Years ago, over many beers in a D.C. bar, a congressional aide colorfully described the House of Representatives, where he worked.
It's "435 heads up 435 asses," he said.
Donald Trump Mocks Romney on ‘Trickle-Down Racism’ Comment (Bloomberg Politics)
Donald Trump returned to the combative form that helped him win the U.S. Republican presidential nomination, slamming Democrats, calling for his party to unite behind him, and responding to Mitt Romney’s suggestion that his election could lead to “trickle-down racism.”
Technology
Video is the new HTML (Ben Evans)
Jonah Peretti made these numbers public late last year. To me, they're interesting because they show two distinct trends – proliferation of distribution platforms and proliferation of content models.
The Future of Agriculture (Economist)
If agriculture is to continue to feed the world, it needs to become more like manufacturing, says Geoffrey Carr. Fortunately, that is already beginning to happen
TOM ROGERS is an almond farmer in Madera County, in California’s Central Valley. Almonds are delicious and nutritious. They are also lucrative.
Health and Life Sciences
Therapists say very few people need to see them for more than a few months (Quartz)
The best kind of therapy isn’t just talking aimlessly about feelings. It’s a structured time where therapists work with patients to solve their problems until they can do it on their own. In most cases, the goal is reaching that end point—and it isn’t always years away.
Why Many Hospitals Are Banning Flowers and Balloons (Wall Street Journal)
The next time you plan to bring a gift to a friend in the hospital, check the visitor policy first.
Some health-care facilities are tightening restrictions on where flowers, plants, balloons and other cheery items are allowed, citing concerns about the potential for infection, among other risks.
Life on the Home Planet
Studies find 'super bacteria' in Rio's Olympic venues and top beaches (Business Insider)
Scientists have found dangerous drug-resistant "super bacteria" off beaches in Rio de Janeiro that will host Olympic swimming events and in a lagoon where rowing and canoe athletes will compete when the Games start on Aug. 5.
Arctic Sea Ice Plummets To Staggering Low In May, While CO2 Levels Hit Record High (Think Progress)
Last month saw the biggest year-over-year jump in atmospheric levels of heat-trapping carbon dioxide on record — 3.76 parts per million. And that, reports NOAA, took May 2016 to the highest monthly levels of CO2 in the air ever measured — 407.7 ppm.
