Hard hitting global and local news
In China, a massive witch hunt is underway. Beijing regulators now seek individuals who have destabilized the markets and spread rumors. Official want someone to blame after their Large-Scale Share Purchases failed to halt a huge stock market slide.
This Bloomberg headline " If the Options Market Is Right, China’s Stock Rescue Is Doomed " reads like something one would find in a tabloid, but the reverse is now true. Options traders have never been so pessimistic on China’s stock market, betting the government’s renewed effort to prop up share prices is doomed to fail. The cost of bearish contracts on the China 50 exchange-traded fund surged to the highest level versus bullish ones since they started trading in Shanghai six months ago
And Stern 2015 : …Professor Stern, the chair of the Grantham research institute on climate change and the environment, said that it was a false dichotomy to posit growth against climate action. “To portray them as in conflict is to misunderstand economic development and the opportunities that we now have to move to the low-carbon economy,†he said. “To pretend otherwise is diversionary and indeed creates an ‘artificial horse race’ which can cause real damage to the prospects for agreement.†Green parties in Europe have often argued that decarbonisation requires an end to the model of economic growth “at all costsâ€
See original article: Fed Queen Race: Personal Income Rises 0.4% as Expected; Good for Rate Hikes? GDP?
Read More: Steve Keen on Economic Forecasts, Ponzi Schemes, GDP, China; One Way Streets and Poison
Disputes over GDP go on and on and on. MarketWatch reports By another measure, the U.S.
Read More: Kansas City Region Activity Remains in Deep Contraction
Link: Second Quarter GDP Revised Up, as Expected, Led by Autos, Housing
Hall of Mirrors: Jim Grant on the "Paper Moon", No Price Discovery Economy; Psychology of Bubbles Reason TV had an excellent interview with Jim Grant, editor of Grant’s Interest Rate Observer on the recent stock market turmoil. Grant says The Fed Turned the Stock Market Into a ‘Hall of Mirrors’ .“Confoundingly to me, people have come to be quite accepting of the value attached by fiat to these pieces of paper we call currency,†says Jim Grant, who’s the editor of Grant’s Interest Rate Observer and the author of The Forgotten Depression: The Crash That Cured Itself.“Are prices meant to be imposed from on high, or discovered by individuals acting spontaneously in markets?