The
Anatomy Lesson: It
turns out that the foot bone (China's stock market, the Hang Seng is
off
over 20% since May) is connected to the leg bone (China's
economy) and – despite repeated claims to the contrary by US
economic and financial geniuses – the whole damned appendage is
attached to the entire world economy, including Wall Street. The
Dow is down 10% from late May highs, as are the S&P and the
NASDAQ and nearly every other stock index in the world.
Oil prices have declined
for eight straight weeks, with WTI briefly below $40 a barrel.
It is all part of a
global currency war brought on by deflation as far as the eye can
see. It's
trickling down out there.
Quoted:
“Pregnancy is painful, difficult, and dangerous. No one should be
forced into it.”
Moving
Target: The
WSJ assures us that “a strenghening economy” has increased us
trucking activity. On the
next page it tells us that “Major container-shipping lines are
slashing sailings on the world’s busiest shipping route between
Asia and Europe as lower growth in China and a sluggish eurozone
economy hurt container volumes”. Pick one - or
do you think the US trucks can keep running around without hauling
Chinese salad-spinners?
Them
That Has, Keeps:
The Pohlad family, owners of the Minnesota Twins, negotiated a
$255.8 million IRS tax
bill down to a single $36 million payment.
Porn
O'Graph: Hand
in hand.
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