Authored by Ilana Mercer via The Mises Institute,
On the eve of the federal convention, and following its adjournment in September of 1787, the Anti-Federalists made the case that the Constitution makers in Philadelphia had exceeded the mandate they were given to amend the Articles of Confederation, and nothing more.
Authored by Charles Hugh Smith via OfTwoMinds blog,
Consumerism is a simulacrum of real economic agency.
There is perhaps no better metric of class in America than personal power--what is known as agency: the power to influence or transform one's circumstances in a a self-directed manner. Those with agency have power, those without agency (or very limited agency) are essentially powerless.
Lockheed Martin CEO Marillyn Hewson should think about sending Kim Jong Un a gift basket.
US non-farm productivity rose 0.9% QoQ in Q2, slightly better than the 0.7% growth expected and a notable bounce off the 'zero' in Q1.This rebound was largely due to disappointment in the growth of unit labor costs (which rose just 0.6% in Q2), but saw an outrageous upward revision in Q1 (from +2.2% to +5.4% QoQ).
Extending its overnight safe-haven buying within Asia, gold has spiked above recent highs - to its highest since early June - following President Trump's latest tweet on America's nuclear arsenal...
At the same time every effort is being made - by crushing VIX - to save stocks from a more perilous drop.