Financial Markets and Economy
Coming Soon, Economists Hope: Big Spending on Roads, Bridges and Ports (NY Times)
The docks at the Port of Oakland are a tangle of cranes, shipping containers, railroad tracks and snaking lines of trucks waiting to load and unload cargo.
BOJ may rattle global bond markets as Fed seen on hold (The Globe and Mail)
The Bank of Japan may steal the thunder from the U.S. Federal Reserve and its chair Janet Yellen this week if it chooses to give more monetary stimulus in its latest effort to jumpstart its economy and the U.S. central bank decides to stand pat on interest rates.
Four Elements Of A Bond Market Bubble (Value Walk)
The developed world’s government bond markets are showing characteristics of a bubble. Timing the end of this rally won’t be easy — but for those watching closely, hints are emerging.
India is on the verge of a digital revolution (True Wealth Publishing)
China is the big kid on the playground in east Asia. But it’s increasingly India – the world’s fastest-growing large economy – that should get more attention… even (or especially) when it comes to the “internet of things” and the tech revolution.
Two of Fed’s Own Primary Dealers Warn Shock Hike Awaits Markets (Bloomberg)
There’s uncommon dissent in the ranks of the Federal Reserve’s primary dealers over the central bank’s interest-rate decision this week.
A Better Economic Plan for Japan (Project Syndicate)
It’s been a quarter-century since Japan’s asset bubble burst – and a quarter-century of malaise as one “lost decade” has followed another. Some of the criticism of its economic policies is unwarranted. Growth is not an objective in itself; we should be concerned with standards of living.
America Is 'Failing The Test of Competitiveness,' Harvard Study Says (HBS Working Knowledge)
The American economy is a mess, and our broken political system is largely to blame, according to a Harvard Business School U.S. Competitiveness Project report released today.
Inside Wall Street's Greatest Feud: ICAHN vs. ACKMAN (Fortune)
Billionaire investor Carl Icahn sauntered onstage last Tuesday night to face a standing room-only crowd in New York City’s luxurious Pierre Hotel ballroom. The Wall Street crowd, attendees at the annual CNBC Institutional Investor Delivering Alpha conference, had waited until 5 p.m. to hear one of the giants speak.
By this measure, China’s banking sector could implode within 3 years (Market Watch)
If China doesn’t curb its addiction to debt soon, the country may find itself in the midst of a banking crisis in the next three years, the Bank for International Settlements warned.
Russians' real disposable income falls at fastest pace since 2009: data (Reuters)
Russian consumers continue to struggle in the second year of a recession, with official data showing on Monday that the amount of real disposable income people had in August fell at the fastest pace in seven years.
Why Rising Interest Rates Could Be Good For America's Small Business Owners (Forbes)
Every time the Federal Open Market Committee (FOMC) meets, the world holds its breath waiting to see whether or not they will finally raise interest rates. Speculation runs rampant, with everyone from your main street banker to your favorite television pundit weighing in with predictions.
Canada's household debt just passed its GDP (Better Dwelling)
Canada’s debt fueled economy chartered into new territory yesterday according to StatCan. The latest national balance sheet show that Canada’shousehold debt is now greater than the GDP of the whole country.
Everyone on Wall Street is talking about the same 2 words (Business Insider)
In 2013, then Federal Reserve Chairman Ben Bernanke announced that the Fed would taper, or gradually reduce, its bond-buying program that pumped money into the financial system.
China’s banking system is riskier than it has ever been, the latest global data shows (Quartz)
China’s outstanding bank credit to GDP gap, a key measure of financial systems’ health, has hit a new record high and is now three times the level considered risky by the Bank for International Settlements.
A couple of big-name oil bulls give up on $100 (Forexlive)
Today, billionaire oil investor T. Boone Pickens said he no longer expects crude to return to $100 per barrel. But he remains bullish in the medium term. He said crude will finish the year in the $55-$60 range. The problem is high US inventories and reserves, he said.
European opinions of the refugee crisis in 5 charts (The Pew Research Center)
The United Nations is hosting a high-level summit on Sept. 19 to address the issue of refugees and migrants in hopes of coming up with a more coordinated approach to dealing with the large-scale movement of displaced people
"The Only Asset That Matters Right Now" – Treasury Correlations Have Never Been Higher (Zero Hedge)
In a week in which there is not one but two critical central bank announcement within hours of each other on September 21 – first the Fed, followed hours later by the Bank of Japan – there is just one asset traders should keep an eye on: the 10Y Treasury.
The Countries With The Highest Starting Salaries For Elementary School Teachers [Infographic] (Forbes)
For young people considering a career in teaching, salary can prove a decisive factor. To earn big bucks right away, candidates should consider training or applying for a position in Luxembourg.
Earnings miracle needed to get S&P 500 values out of clouds (The Globe and Mail)
The Federal Reserve is looking for any excuse to raise interest rates, global growth is slowing, and yet stock analysts are predicting the fastest earnings expansion since the bull market began.
Mark ‘Carnage’ reveals what he would do with all the money in the world (The Spectator)
China could be hurtling towards a banking crisis, reports The Telegraph. Citing a report from international financial watchdog The Bank for International Settlements, the paper says that the country is mired in debt, with the ‘credit to GDP’ ratio at 30.1 – leagues ahead of any comparable country.
Companies
Kmart Is Closing 64 Stores (Money)
Kmart is closing 64 stores across 28 states, and laying off thousands of employees, Business Insider reports. Employees of affected stores told BI that liquidation sales will start September 22 and doors will close before Christmas.
Skyrocketing Obamacare premiums still lower than employer-sponsored insurance (The Washington Post)
People who warn that President Obama's health-care law is in dire straits often point to rising health insurance premiums as proof. Sen. John McCain (R-Ariz.) has called premium increases on Affordable Care Act exchanges "astronomically high." Sen. Ron Johnson (R-Wis.) says premiums have "skyrocketed."
US companies are 'hoarding' a record $2.5 trillion in cash overseas (Business Insider)
The recent fight among Apple, Ireland, and the European Union has once again shined a spotlight on the growing trend of US companies storing cash overseas to avoid taxes.
Walmart, Lowe's, and Whole Foods are banking on this to compete with Amazon (Business Insider)
The rise of automation in the fast-food industry has made headlines in recent months, as chains such as Panera and McDonald's have heavily invested in tech that threatens to eventually replace human workers. Robots can make sushi, noodles, burgers, and pancakes.
Costco and Walmart Unleash New Office Supplies Delivery Services to Shake Up Staples, Office Depot (The Street)
With Staples (SPLS) and Office Depot (ODP) still feeling the aftershocks of their failed merger, Costco (COST) and Walmart (WMT) are laying the groundwork to grab their fair share of the U.S. office supplies market.
After Losing Medivation, Who Is Gilead Going After Next? (Forbes)
Gilead Sciences has been consistently pressured by analysts to make an acquisition over the past 18 months. The company has been incredibly frugal, stockpiling cash, and avoiding overpaying in an acquisition just to make the analysts happy.
Politics
Why a President Trump Could Start a Trade War With Surprising Ease (The Upshot, NY Times)
Americans often dismiss populist promises that emerge on the presidential campaign trail because they are unlikely to be passed by Congress. Should Donald J. Trump get elected, Congress most likely would moderate his proposals to cut taxes, increase spending and even to build a border wall.
Christie said to know of lane closures as 'Bridgegate' trial starts (Reuters)
New Jersey Governor Chris Christie knew that two close associates were involved in shutting down lanes leading to the George Washington Bridge as a way to punish a mayor who would not support his re-election, federal prosecutors said on Monday.
Technology
Rush to Take Advantage of a Dull iPhone Started Samsung's Battery Crisis (Bloomberg)
Few things motivate Samsung employees like the opportunity to take advantage of weakness at Apple Inc.
Samsung Says Phone Explosions in China Not Caused by Batteries (The Wall Street Journal)
BEIJING—Samsung Electronics Co. sought to distance fresh reports of phone combustions in China from its global recall Monday, saying that for at least one case, it believed the fire began outside the phone.
Google’s new Trips app takes the stress out of planning vacations (The Next Web)
It’s basically a giant travel guide and itinerary maker for trips to various locations around the world.
Google acquires Urban Engines to bring its location-based analytics to Google Maps (Venture Beat)
Google has acquired Urban Engines, a provider of location-based analytics for urban planning. The team will be joining the Google Maps team in a bid to “help organizations better understand how the world moves.” Financial terms of the deal were not disclosed.
Galaxy Note 7 replacements coming Wednesday in U.S. (CNN Money)
Americans who own Samsung's recalled Galaxy Note 7 smartphone will finally be able to pick up a replacement on Wednesday.
America's First Wave-Produced Power Goes Online In Hawaii (Associated Press)
The current travels through an undersea cable for a mile to a military base, where it feeds into Oahu's power grid — the first wave-produced electricity to go online in the U.S.
Health and Biotech
World leaders are gathering to solve the problem of deadly, drug-resistant 'superbugs' (STAT)
Heads of state from around the globe will gather this week to try to address a long-neglected issue that poses perhaps the biggest health threat the world faces: the growing resistance of bacteria to antibiotics.
Zika Is Here, And America Has No Plan to Fight It (Bloomberg)
There have been more than 18,000 cases of Zika in the U.S. and its territories. Congress, however, still hasn’t allocated one penny of funding to fight the disease.
The Tiny Brain Chip That May Supercharge Your Mind (Singularity Hub)
How will we interact with the intelligent machines of the future? If you're asking Bryan Johnson, founder of startup Kernel, he'll tell you those machines should be implanted inside our brains.
Big Pharma is spending nearly $900 million to fight limits on powerful opioids (VICE News)
The pharmaceutical industry has spent more than $880 million over the past decade to fight laws that would limit the availability of powerful opioids such as OxyContin, Vicodin and fentanyl in the United States, according to an investigation by the Associated Press and the Center for Public Integrity published Sunday.
Life on the Home Planet
A New Study Estimates That 100,000 People Died From the Indonesian Haze Last Year (AP, TIME)
AKARTA, Indonesia (AP) — Indonesian forest fires that choked a swath of Southeast Asia with a smoky haze for weeks last year may have caused more than 100,000 deaths, according to new research that will add to pressure on Indonesia’s government to tackle the annual crisis.
Reflections of Wilson Peak from 12,000 ft. (Flickr)
This high mountain tarn resting below Wilson Peak and Gladstone Peak in Bilk Basin near Telluride offers amazing reflections.
Colorado wilderness is such an integral part of who I am. I grew up camping and climbing 13ers and 14ers, experiencing the best parts of this marvelous state.
An executive coach explains how to learn in 2 days what normally takes 6 months (Medium)
Research has found that having clarity about your goals is essential to having motivation to achieve those goals.
After the New York bomb, Muslim Americans are braced for a backlash (The Guardian)
Terrorism has strained traditional American notions of individual responsibility. While such attacks fortunately remain rare in our country (data shows that out of 14,000 murders in the United States, a few dozen per year are motivated by religious or political ideologies of any persuasion), violence by a Muslim is often attributed to the entire American Muslim community.
Opposition Protests in Democratic Republic of Congo Kill at Least 17 (AP, TIME)
Terrorism has strained traditional American notions of individual responsibility. While such attacks fortunately remain rare in our country (data shows that out of 14,000 murders in the United States, a few dozen per year are motivated by religious or political ideologies of any persuasion), violence by a Muslim is often attributed to the entire American Muslim community.
Norwich fitter on trial after gate crushes woman to death (The Guardian)
An iron gate crushed a woman to death in a “wholly preventable tragedy”, Norwich crown court heard.
After Jill Lunn, 56, had driven home with her granddaughter Ava, she went to close the gate by hand after the automatic mechanism failed, the court heard.
