Asia

Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."

Via SovereignMan's Simon Black,

This morning I read a stinging open letter written by a small business owner in the Land of the Free named Don Chernoff.  Chernoff imports and sells luggage, and he pulled no punches in voicing his disgust for the phony support and failed policies that constantly make his life more difficult.

I’ve edited his letter for length below; the full version is available here.

The Military Pumps Out Staggering Quantities of Toxic Waste, Water and Air Pollution and Radiation

Environmentalists are ignoring the elephant in the room … the world’s largest polluter.

Newsweek reported in 2014:

S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range. Oil declined after the Trump budget proposal suggested selling half the crude held in the US strategic petroleum reserve.

Authored by Federico Pieraccini via The Stratgic Culture Foundation,