Business

Following more dismal data from the US, hope for global growth remains in China and they did not disappoint. Despite slumping macro data, a major slowdown in real estate, and the nation's deleveraging efforts in the last three months, GDP beat, Retail Sales beat, Industrial Production surged, and even fixed asset investment was above expectations. The Yuan hasn't moved.

For the last three months, Chinese data has been disappointing, along with US, as the collapsing credit impulse leaks into reality...

Authored by John Mauldin via MauldinEconomics.com,

“The job of the central bank is to worry.”

– Alice Rivlin

“The central bank needs to be able to make policy without short-term political concerns.”

– Ben Bernanke

“… from the standpoint of the overall economy, my bottom line is we’re watching it closely but it appears to be contained.

– Ben Bernanke, repeatedly, in 2007

Authored by Madelyn Harwood via IllinoisPolicy.org,

Illinois loses more millennial taxpayers and dependents to other states than any state except New York; this means Illinois’ distressed housing market is losing a big contingent of first-time homebuyers.

On Sunday, Roger Federer did what many in recent years said was impossible, when he won his record, 8th Wimbledon title, defeating Croatia's Cilic in straight sets.

Via Global Macro Monitor,

Since the Fed began raising interest rates in December 2015,  financial market liquidity conditions have loosened considerably.   Recall our post,  Orwellian Monetary Policy,  which we wrote in May.

“Tightening is Easing”