Financial Markets and Economy
Oil Traders See More Pain For Markets (Forbes)
Talk of oil production freezes and even production cuts have been tossed around so much lately among analysts, traders, pundits and major producers that it’s hard to keep up with who said what, and which comments to take seriously.
China’s Big Debt Worries George Soros. Should It Worry You? (NY Times)
BEIJING — The global economy is full of risks right now. Growth is sluggish, and central banks seem powerless to fix it. Europe faces persistent challenges and division. In America, the election looms.
Huge Consumer Scam Results in Paltry Fines—and Little Else—for Wells Fargo (Common Dreams)
Banking behemoth Wells Fargo, one of the world's largest financial institutions, was fined a mere $185 million by various regulators on Thursday for opening millions of unauthorized accounts that racked up fees for consumers and bonuses for employees.
Under Armour is going after what the CEO thinks is $15 billion opportunity (The Motley Fool)
Under Armour is about to showcase a new line of gear unlike anything we've seen from the company yet. CEO Kevin Plank introduced the new line as "…forged from the field and built for life," while GQ magazine says it's "Why Under Armour Just Got Awesome."
The Era of Central Planning is Crumbling.. and the Elite are Terrified (Blacklisted News)
In the post 2008 era, the Globalists made a major push to hold the system together. The multi-billionaire class, particularly those who made fortunes from crony capitalism and bubble economics joined forces with the Keynesian media shills to convince the world that the only way we would survive would be if trillions of Dollars were given to those who were deemed “systemically important.”
Exposing How China "Cheats On Trade" In The Aluminum Industry (Zero Hedge)
Since entering the Presidential race last year, Trump has made international trade a cornerstone of his campaign and has promised to go after countries like China that "cheat on trade".
Profits overboard (The Economist)
THE collapse of Hanjin Shipping, a South Korean container line, on August 31st brought home the extent of the storm in shipping. The firm’s bankruptcy filing left 66 ships, carrying goods worth $14.5 billion, stranded at sea.
Researchers Have Identified This as the Primary Reason Why Drug Prices Are Soaring (Fool.com)
According to an analysis released in January by healthcare data tracking company Truveris, prescription drug prices jumped by more than 10% in 2016, which includes a 14.77% increase from branded drugs and a 9.21% jump in specialty drugs (i.e. treatments for complex conditions such as cancer, hepatitis C, and so on).
A Chinese billionaire may have hidden 6% of the world's aluminum in the Mexican desert (Mic)
It's not every day that Mr. Bean makes an appearance in the Wall Street Journal's commodities coverage.
And that might not even be the strangest finding in the Journal's investigation into a massive pile of aluminum that allegedly just sat there, unused, in the Mexican desert for years.
7 million Americans get taxed into poverty every year (Slate)
Maybe you think America needs to do drastically more to help the poor. Maybe you don't. But my guess is you will probably agree that, at the very least, the government should not be in the business of taxing workers into poverty.
Not for Sale: The Best Land in America (Bloomberg)
The pace of U.S. home construction hasn’t picked up much from a year ago. One reason, says Capital Economics property economist Matthew Pointon, is a shortage of land—not that enough land isn’t available, but rather that builders are having a tough time finding prime land at prices they’re willing to pay.
Businesses Growing More Anxious as Elections Get Closer, Fed Survey Shows (Bloomberg)
Businesses are becoming more anxious about presidential elections set for November, according to the Federal Reserve's latest anecdotal appraisal of the economy.
Reinventing Canadian Economy Could Take 15 Years: RBC CEO (Bloomberg)
Canada’s economy could take 15 years to reinvent itself after manufacturing and service industries began to shrink in the wake of the financial crisis, Royal Bank of Canada CEO David McKay said.
Control What You Can (Of Two Minds)
One of the aphorisms to live by here at Of Two Minds is control what you can.We don't control the erosion of our money from inflation, the state's vast criminalization machinery, the nation's foreign policies or the central bank's free money for financiers policies.
The Bubble Burst You Didn’t See Coming (Economy and Markets)
I keep saying that in the next great crash, everything will get swept up in the onslaught – with virtually no exceptions.
And that goes too for what we eat!
Investors shouldn't be too bearish on corn (PIMCO)
Reports of what could be the biggest U.S. corn crop ever have put pressure on prices in recent weeks. In its latest World Agricultural Supply and Demand Estimates (WASDE) report (the next release is on 12 September), the U.S. Department of Agriculture (USDA ) projected a record corn yield of 175.1 bushels per acre (bu/acre) in 2016.
So You Want To Open A Taco Truck? 11 Steps To Get Started With Your Small Business (Forbes)
Last week, Latinos for Trump founder Marco Gutierrez told MSNBC’s Joy Ann Reid that “my culture is a very dominant culture, and it’s imposing — and it’s causing problems. If you don’t do something about it, you’re going to have taco trucks on every corner.”
Companies you've never heard of are making a killing off high drug prices (Business Insider)
It's easy to see why EpiPen has become the focus of America's fury over drug prices. It treats potentially deadly allergic reactions — for example, in a child who is stung by a bee — and its price has spiked by over 500% in a few years.
Theresa May should invoke Article 50 within weeks, says John Whittingdale (The Telegraph)
Theresa May must trigger the start of Britain’s formal withdrawal from the European Union within weeks, John Whittingdale says.
Republican State AGs Met With Coal, Electricity Companies Before Filing Against The EPA’s Carbon Rule (Think Progress)
Coal and electricity companies paid to meet with Republican state attorneys general just weeks before those top law enforcement officials joined in suing the federal government over the EPA’s Clean Power Plan, new documents show.
The class struggle is real: India is making labor history with the world’s largest general strike (Alternet)
Trade unions leaders are reticent to say how many people struck work on September 2, 2016. They simply cannot offer a firm number. But they do say that the strike — the seventeenth general strike since India adopted its new economic policy in 1991 — has been the largest ever.
Wells Fargo's scandal is a cautionary tale about incentive pay (Business Insider)
Wells Fargo has fired thousands of employees and incurred fines totaling $185 million because of a widespread practice of employees opening new accounts for existing customers without their authorization.
The world of finance is entering a 'Twilight Zone' (Business Insider)
We've entered into a "Twilight Zone."
That's according to Viktor Shvets, a strategist at Australian bank Macquarie in Hong Kong.
The 'ghost fleet' of cargo ships with nowhere to go can now dock and unload (Reuters)
A U.S. judge on Friday signed an order granting Hanjin Shipping provisional protection from creditors in the United States, enabling some vessels to dock and unload at U.S. ports.
Politics
Obama faces first potential veto override of presidency (Politico)
The House unanimously passes a bill allowing 9/11 victims' families to sue Saudi Arabia, setting up a showdown with the White House.
North Korea, Far From Crazy, Is All Too Rational (NY Times)
Is North Korea irrational? Or does it just pretend to be? North Korea has given the world ample reason to ask: threats of war, occasional attacks against South Korea, eccentric leaders and wild-eyed propaganda.
How Donald Trump retooled his charity to spend other people’s money (The Washington Post)
Donald Trump was in a tuxedo, standing next to his award: a statue of a palm tree, as tall as a toddler. It was 2010, and Trump was being honored by a charity — the Palm Beach Police Foundation — for his “selfless support” of its cause.
Trump’s New Jobs Adviser Doesn’t Understand Minimum-Wage Jobs (Think Progress)
Up until recently, Andy Puzder has served only as Carl’s Jr. and Hardee’s CEO and a fundraising bundler for the joint Donald Trump and Republican National Committee fund. But now he has a new official role: job creation adviser to Trump.
Clinton walks back 'deplorables' comment: I 'regret' using the term to describe 'half' of Trump's supporters (Business Insider)
Hillary Clinton on Saturday walked back comments she made about supporters of Donald Trump at an event in New York City.
Clinton Stands By ‘Deplorables,’ But Walks Back The Basket Size A Bit (The Huffington Post)
Hillary Clinton on Saturday expressed regret for saying half of Donald Trump’s supporters belonged in a “basket of deplorables” the previous evening ? but pledged to continue to call out the bigotry and racism of the Republican nominee.
Bill Clinton, After a Year of Restraint, Unleashes an Impassioned Self-Defense (NY Times)
At last, Bill Clinton could not help himself. He paced the stage during a speech on Tuesday in North Carolina, holding his microphone close. He raised his left index finger.
Is Hillary Clinton Right About Trump Supporters? This Is What The Polling Data Says (Think Progress)
Speaking at a fundraiser in New York on Friday night, Hillary Clinton described half of opponent Donald Trump’s supporters as a “basket of deplorables,” an evocative phrase that Clinton used to describe various forms of intolerance and bigotry.
Clinton Says She Was Wrong to Call Half of Trump Supporters ‘Deplorables’ (The Wall Street Journsl)
Hillary Clinton expressed regret Saturday for calling half of Donald Trump’s supporters “deplorables,” but she stood by her sharp criticism of her Republican rival.
Technology
This bizarre $15,000 electric car could transform your commute (Business Insider)
A new all-electric car just hit the market, but it looks a little different than other electric cars you can buy.
Made by the Canadian company Electra Meccanica, the 2017 Solo car boasts three wheels instead of four and is built for just one passenger, hence, its name Solo.
Google’s DeepMind Achieves Speech-Generation Breakthrough (Bloomberg)
Google’s DeepMind unit, which is working to develop super-intelligent computers, has created a system for machine-generated speech that it says outperforms existing technology by 50 percent.
Ray Kurzweil: Accelerating Tech Is Making Old Intellectual Property Laws Obsolete (Singularity Hub)
As technology and innovation move faster and faster, concerns over ownership and access continue to increase. In answer to a question at a Singularity University event, Ray Kurzweil suggested we need to rethink intellectual property laws to more realistically match today’s pace.
Apple's rumored car project suffers major layoffs, report says (Mashable Asia)
The recent rumors about a potential Apple car may have all been a massive waste of anticipatory energy better directed toward the levitating, hologram-beaming "iPhone 10," if a new report is accurate.
Sports Writer Robots; Will an AI Robot Writer Win a Pulitzer Prize? (Mish Talk)
Robots are continually in the news. Here’s an investigation of the shape of things to come for robotic journalism.
In a limited form, robotic journalism is already happening. The AP follows and produces earning reports of 4,000 companies via Robot.
Health and Life Sciences
Cellular Defect May Be Linked to Parkinson's: Study (Drugs.com)
Researchers say they've discovered a cellular defect that may be common to all forms of Parkinson's disease.
See bacteria develop antibiotic resistance (Holy Kaw)
Humans have been evolving new ways to overcome the challenges nature sets in our path for millennia, and bacteria are no different in their quest to survive.
Ovarian Cancer Screening Tests: Safety Communication – FDA Recommends Against Use (Drugs.com)
The FDA is alerting women about the risks associated with the use of tests being marketed as ovarian cancer screening tests. The Agency is especially concerned about delaying effective preventive treatments for women who show no symptoms, but who are still at increased risk for developing ovarian cancer.
Someone invented a $50 EpiPen — when will it arrive? A conversation with the doctor who invented it (Salon)
How much is a potentially lifesaving medicine worth? The question is easy to answer for number-crunching drug company CEOs: as much as they can get away with charging.
Life on the Home Planet
Sorry Deniers, Even Satellites Confirm Record Global Warming (Think Progress)
The people who deny the facts of climate science for a living have had a really tough time recently.
For years they had been dining off the “there’s been no warming since 1998” talking point. But that one was mortally wounded when 2014 became the hottest year on record?—?and then it died entirely when 2015 blew away the 2014 record.
Legendary physicist Freeman Dyson talks about math, nuclear rockets, and astounding things about the universe (Business Insider)
Mathematician and physicist Freeman Dyson has had a career as varied as it has been successful.
Breakthrough Syria Peace Deal Raises Doubts As Fighting Continues (The Huffington Post)
The United States and Russia reached a breakthrough deal early on Saturday to try to restore peace in Syria, but air strikes hours later added to rebels’ doubts that any ceasefire could hold.
Police Seize Over 5,000 Ounces Of Silver From Man's Home (SovereignMan.com)
Last week in the Australian state of Queensland, federal police confiscated a whopping 5,465 ounces of silver (worth roughly $106,000) from a man’s home.
What a Kansas professor learned after interviewing a ‘lost generation’ of journalists (Columbia Journalism Review)
WHEN SCOTT REINARDY BEGAN STUDYING the state of morale in newspaper newsrooms more than 10 years ago, he says, he was trying to “take the temperature” on job satisfaction and burnout in the profession.
Friday Box Office: 'Don't Breathe, 'Suicide Squad,' 'Bad Moms,' And 'Hell Or High Water' Hold Strong (Forbes)
Don’t Breathe posted another terrific hold on its third Friday. The Sony/Screen Gems thriller earned $2.437 million (-42%), which sets the stage for an $8m (-49%) weekend and terrific $66.7m 17-day cume.
Selling a $5 Million, Seven-Story Basket Is No Picnic (Bloomberg)
"You might see it three or four miles off before you come around the bend, and then you say, 'That is a basket. That is unquestionably a basket,'" said Tom Rochon.
How ‘Star Trek’ almost failed to launch (The Conversation)
Fifty years ago – on Sept. 8, 1966 – TV viewers were transfixed by the appearance on screen of a green-hued, pointy-eared alien called Spock. But beneath the makeup, actor Leonard Nimoy fretted that this would be the end of his promising career.
The 11 Best Burgers in New York City (Bloomberg)
Top chefs pick their all-time favorites, from burgers with fat, mid-rare patties dripping with juice to thin, crisp disks of beef smothered with cheese. These are the ones the true masters crave when they're off duty.
These European cities have the most affordable housing (City Lab)
If you want to live in a European city where residents think affordable housing is easy to come by, avoid London and head for Ljubljana. That's one of the possible conclusions to draw from a massive new report on European cities published by the E.U.
