Gold is spiking, USDJPY dropping, and stocks leaking lower after Dallas Fed's Kaplan dropped some serious tapebombs ahead of Yellen's speech...
Speakingon Bloomberg TV, Kaplan headlines wwre as follows...
Authored by Charles Hugh Smith via OfTwoMinds blog,
Many of those about to be vaporized did not grasp the fragility of the "prosperity" they assumed was both solid and permanent.
Business-cycle recessions are not just inevitable, they are necessary to flush bad debt and marginal investments/projects from the system.
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
What follows are six questions and answers that were wedged between cocktails and a dinner hosted by Karl J. Feitelberg, Founder and Chairman of Sterling Resources Ltd. at the Castle Hill Inn, Newport, R.I. on July 24, 2017.
1. Question: What were the two greatest economic catastrophes in the U.S. of the last 100 years?
The paradox of the US stock market continued for yet another week, because according to Bank of America citing EPFR data with the S&P effectively at record highs, US equity funds have suffered their longest outflows streak in 13 years, as investors pulled out another $2.6 from US stocks in the week ending Wednesday. That brings total outflows since late June to $30 billion, as investors allocated $36 billion to the rest of the world.
A day after Amazon revealed its plans to cut prices at Whole Foods Market following the completion of its takeover on Monday – an announcement that obliterated billions of dollars’ worth of food suppliers and rival grocers’ market capitalization - Bloomberg is reporting that WFM’s rivals are mulling an incredibly difficult choice: Whether to follow suit and cut prices in one of the few segments of the food market that’s actually growing, or hold the line against their high-tech rival and risk being undercut into oblivion.