The American society is becoming more and more divided because of the various elements and factions within it that no longer will accept or tolerate the views and beliefs of their fellow Americans; views that are not consistent with their own
It appears the "what the market missed" that we detailed earlier - This sets the Fed on a collision course with the market because "with the market pricing fewer hikes than the Fed suggests, someone is going to end up being wrong," - is starting to filter out to the mainstream. Despite exuberant buying in FANGs, the broad market indices have retraced the post-Yellen exuberance as bond yields fade, hinting at the market's growing realization that this could be a policy error.
Submitted by Reuben Brenner via Asia Times,
George Akerlof’s and Robert Shiller’s (Nobels in economics) new book, titled Phishing for Phools: The Economics of Manipulation and Deception declares on its first page that people “do not do what is really good for them; they do not choose what they really want.” It appears that a main preoccupation of economists – the self declared “behavioral economists” prominent among them – is to show how dumb people are as consumers and in assessing risks.
A mistrial was declared yesterday in Baltimore for one of the police officers charged in the death of Freddie Gray while in police custody. Protests occurred immediately after the verdict was announced. One protester put it, "We want justice & we're just not going to get it". One thing seems clear w/this mistrial verdict of a black man dying while in police custody; the perception racial injustice is alive & well in America.
Following his annual press conference in Moscow, Russian President Vladimir Putin gave a qualified endorsement of Donald Trump’s candidacy for the Republican presidential nomination on Thursday, saying he hoped Trump’s election could improve Moscow’s relations with the United States...