Courtesy of John Rubino.
US service sector job creation slowed in July while consumer spending exceeded expectations. Most markets stable on Wednesday. Japan begins new round of stimulus. Both Bill Gross and BofA are bearish on stocks. Doug Noland and Jim Grant on the global credit bubble. John Hussman on why the credit cycle is about to turn. The Telegraph on negative interest rates. Great overview of the coming Minsky Moment.
Best Of The Web
Bernanke’s “enrich-thy-neighbor” doctrine now in “full bloom” – FRA
Impermanence and full-cycle thinking – Hussman Funds
Minsky’s moment – Economist
Weekly commentary: Bubble battles – Credit Bubble Bulletin
Jim Grant is bullish on gold, bearish on Craft – Barron’s
Negative interest rates: necessary evil or symbol of greed? – Telegraph
IMF admits disastrous love affair with the euro – Telegraph
Biggest companies in the S&P 500 use made-up earnings numbers – MarketWatch
This is how independent central banks are – Gold Republic
Why real reform is impossible – OfTwoMinds.com
Plutocracy, then and now – the lesser of two evils – Jesse’s Cafe Americain
How to profit form these massive, Brexit-induced trends – Casey Research
5 reasons why Trump will win – Michael Moore
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Breaking News
The Economy
8/03 Expansion by US services companies slowed in July – CNBC
8/03 Bill Gross: I don’t like stocks or bonds – CNBC
8/03 Crude is going lower, and equities will follow suit: BofAML – CNBC
8/03 JPM analyst says central banks rigged markets after Brexit – GATA
8/03 Silly slow-growth speculation avoids central bank blame – Daily Bell
8/03 China’s robotics rush shows how its debt can get out of control – Reuters
8/03 European banking system on verge of collapse – Mish
8/03 Japan’s worst bond rout since 2013 feeds anxiety BOJ near limits – Bloomberg
8/03 Japan’s negative rates whack big banks as MUFG has Q1 profit hit – Reuters
8/03 End of driving season could send oil back to February lows – Oil Price
8/03 European stocks end in the red as Commerzbank, Italian banks slide – MarketWatch
8/03 Japan’s $276 billion stimulus plan is much smaller than it looks – WPTZ.com
8/03 65 million Americans would like to work but might lose entitlements – Zero Hedge
8/03 Cash, NIRP & bonds – Cumberland Advisors
8/03 Welfare is the new work – Washington Times
8/02 Japan announces more stimulus measures as economy struggles – NY Times
Precious Metals
8/03 Gold is now on its way to all-time highs – SafeHaven
8/03 GLD evades SEC request for subcustodian details – GATA
8/03 Gold equity correction overdue – Streetwise Reports
8/03 Gold finishes at more than 2-year high – MarketWatch
8/03 A stagflationary firestorm approaches – 321Gold
8/03 Why China and Russia are buying so much gold – MarketWatch
8/03 What another “scorched earth generation” president means for gold – Sprott Money
8/03 Incrementum’s Stoeferle explains why ‘gold is back’ – GATA
8/03 Money always moves from weak hands into strong hands – Streetwise Reports
8/02 Gold up, hits 3-week high, amid sleeping Greenback – Kitco
8/02 Silver kangaroo coins – sales surge over 10 million – GoldCore
8/02 The dollar is going to 1/10,000 ounce – SafeHaven
8/02 Silver Wheaton increases gold stream from Salobo mine – Kitco
8/02 Fresnillo profit more than doubles in first half of year – Kitco
8/02 Tisch says we “live by the sword” at Loews – Bloomberg
8/02 Gold’s $50 billion M&A spree builds as rally boosts values – Bloomberg
8/02 Indians plow 2.95 tonnes of gold into banks – GATA
8/02 Go for gold, or not really sold? – Morningstar
8/02 Noonan on gold & silver: charts say caution is warranted – MunKnee
8/02 Better buy: Royal Gold, Inc. vs Newmont Mining – Motley Fool
8/02 A golden rescue on the COMEX? – GoldSeek
8/02 2 stocks give you leverage on the best-performing asset of 2016 – Investopedia
Inflation, Deflation, Currency War, Cryptocurrencies
8/03 The one-size euro mightn’t be so tight after all – Bloomberg
8/03 Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong – GATA
8/03 The curse of cash – Daily Reckoning
8/03 Central bankers float new currency system, safety net at Confab – Bloomberg
8/03 Abe aide Hamada favors Japan proclaiming debt-monetizing policy – Japan Times
8/03 Banks and building societies pile yet more misery on savers – Daily Mail
8/03 Low interest rates mean that something is wrong – Financial Review
8/02 Australia rejoins global disinflation fight with record low rate – Bloomberg
8/02 Overseas yield hunters bag record share of US debt – Bloomberg
8/02 Strong dollar sends Colgate-Palmolive’s revenue tumbling 5.5% – GCN
Real Estate Bubble
8/03 Vancouver enacts 15pc property tax – AFR
8/03 D-Day for Australia’s real estate bubble? – Zero Hedge
8/02 Home ownership in England at lowest level in 30 years – Guardian
8/02 Disaster for high end NY/SF real estate if China curbs cap outflows – ZH
8/02 Construction spending: eight miles high and falling fast – Mish
DollarCollapse Podcasts
7/27 Random violence and political instability: the new normal
7/21 It’s not the event but the response to the event that matters
7/01 Brexit was just the beginning
6/25 The deeper meaning of Brexit
6/08 Gold Will Soar, Marijuana Will Be Legal
5/23 Hard times for obsolete entities
5/14 Chaos spreads to US retailers and Italian banks
5/04 Easy money has failed; what’s next?
4/27 Okay, I’ll say it: run for the hills
4/21 Corporate earnings (among other things) go from bad to horrendous
Politics
8/03 Furious sheep – ClubOrlov
8/03 Republican rift widens as Trump declines to endorse Ryan, McCain – Reuters
8/03 Paul Manafort: Trump staff is suicidal, he’s mailing it in – CNBC
8/03 America’s electronic voting machines are scarily easy targets – Wired
8/03 White House caught airlifting $1.7 billion taxpayer cash to Tehran – Zero Hedge
8/02 Clinton raises nearly $90 million in July, has $58 million war chest on hand – CNBC
8/02 Warren Buffett takes on Trump at Hillary rally – Wall Street Journal
8/02 Republicans rip Trump for insulting parents of fallen soldier – Vanity Fair
8/02 Ron Paul: “I’m still looking for my third candidate” – Libertarian Republic
8/02 What HIllary Clinton needs to say to beat Donald Trump – Politico
8/02 It appears Donald Trump doesn’t know about the Crimea annexation – Huffington Post
8/02 Donald Trump confrontation with muslim soldier’s parents emerges – New York Times
8/02 The candidate who shall not be named – Politico
Offshore Investing
7/20 Costa Rica: Central America’s hidden gem – Sovereign Investor
7/08 Time to adjust your wealth plan – Mountain Vision
7/08 We pulled the ripcord on daily life and moved to Costa Rica – International Living
7/02 America’s offshore tax cheats are feeling the heat once again – Bloomberg
Clean Tech
8/03 Primary proposal could boost solar energy in Florida – The Ledger
8/03 Japan solar power bankruptcies to hit record this year – Economic Times
8/02 Software ate cleantech: now what? – Greentech Media
8/02 Will TeslaSolar still outsource the brain of its solar systems? – Electrek
7/30 World’s largest solar power plant planned for Chernobyl – Electrek
7/30 California’s fast-track solar permits let the sun shine in faster – Inside Climate News
7/30 Why renewable power can still be wasteful – Slate
7/30 Panasonic net profit tumbles 64% – Japan Times
7/30 4 things you need to know about China’s record solar installations – Forbes
Art of the Collapse
8/02 Homer Simpson: “And that’s how I became a Democrat” – Zero Hedge
7/27 Meanwhile at the DNC – Zero Hedge
7/25 Trump’s acceptance speech – Digg
7/17 Obama’s 11-point response to the French tragedy – Zero Hedge
7/13 Artist’s impression of Hillary’s inauguration – Zero Hedge
War, Civil Unrest, Privacy, Creeping Fascism, Police State
8/03 Latest North Korea missile launch lands near Japan waters, alarms Tokyo – Reuters
8/03 Snapping up cheap spy tools, nations ‘monitoring everyone’ – Big Story
8/02 Japan defence review expresses ‘deep concern’ at Chinese coercion – Reuters
8/02 Turkish government has taken over military factories, shipyards – Reuters
8/02 Betrayal of the West – Merkel the traitor – Dr. Sircus
8/01 Islamic State attacks two oil fields in northern Iraq – MarketWatch
Self-sufficiency, Food Security, Survival
8/03 The dangers of thinking you’re prepared… if you’re not – Total Wealth
7/31 Owning the asset you can eat – Reluctant Preppers
7/30 Anti-aging – cultivating eternal youth – Dr. Sircus
7/19 Can drinking more water help you lose weight? – Mercola
7/27 Elevated blood sugar sets the stage for cancer growth – Mercola
7/24 Hospital beds & massage tables with biomats – Dr Sircus
7/23 These powders are powerful – Bloomberg
7/17 Sticking germy fingers in mouth may give upper hand on health – ARS Technica
CyberWar, CyberTerrorism, CyberCrime
8/03 The Jeep hackers are back to prove car hacking can get much worse – Wired
8/02 Cyber-security skills shortage leaves companies vulnerable – InformationWeek
7/31 NSA hackers target Russian cyber spies – Zero Hedge
7/31 The cyber war is real and we are preparing for it – Tech Portal
7/30 Another “smoking gun” looms as Hillary campaign admits server hacked – Zero Hedge
Off-Topic But Brilliant/Challenging/Infuriating
8/03 A madman’s parachute-free skydive into a giant net – Wired
8/03 New Navy tech makes it easy to land on a carrier – Wired
8/03 Increase in young adults living at home – Dr. Housing Bubble
8/03 The seemingly ‘unstoppable’ fish flooding Florida’s coast and supermarkets – CNBC
8/02 Texas allows guns in college classrooms under new law – Reuters
8/02 McDonald’s cuts preservatives from McNuggets as part of health kick – Bloomberg
8/01 Driverless cars will change everything – Business Insider
8/01 Harry Potter and the Cursed Child is emotionally devastating – Telegraph
7/31 England’s plastic bag usage drops 85% since 5p charge introduced – Guardian
7/30 How to fool AI into seeing something that isn’t there – Wired
7/29 Marijuana legalization might be fix to nation’s opioid problems – The Hill
