Hard hitting global and local news
In a move sure to heighten trade tensions with protectionists in US Congress, Surprise China Devaluation Marks Escalation of Currency War . According to conventional wisdom, wars are easy to start and difficult to end.
Plagues of Locusts Invade Russia; Putin’s Inane Food Contraband Destruction Policy; Law of Asset Destruction Putin’s Inane Food Contraband Destruction Policy In an action as economically stupid as president Roosevelt destroying US farm produce during the Great Depression, Russia Incinerates Contraband Food . One year into its embargo on western food products, Russia has launched a controversial campaign to destroy all contraband meat, dairy and produce, using on-the-spot incinerators, dump trucks, rollers and meat grinders.
See the original article here: US’s Saudi Oil Deal from Win-Win to Mega-Loose
See more here: Long-Term Treasuries Rally in Face of Increasing Odds of September Hike; Taper Tantrum in Reverse?
Friday’s Job report may skew the odds, but this is how I see things: Fed Yap vs. Futures; Bloomberg vs.
Truthout reports Seven Things That Might Surprise You About California’s Drought . 1
Fed Sheds No Light, Plays Charades with Media; Tiptoe Balancing Act Fed Says Little, Sheds No Light If the Fed had a clue as to what it will do in September, it likely would have said so. Instead, it reiterated the same hash we have been hearing for years. Here is the complete text of today’s FOMC Press Release
Visit link: Santelli Exchange with Mish: Public Debt, Taxation, Legacy Issues
Read More: China Manufacturing PMI Hits 15-Month Low: Is This a Big Deal?
Here is a lengthy snip from Bargo’s recent, well-written article Public Pensions Prove Zero Sum Economics . One of the major appeals in Democrat presidential campaigns is to explain to voters that they need Democrats in office to take money away from the rich. And since the rich own big corporations, they will pay workers as little as possible.