United States

Just days after a report that two Chinese J-11 fighter jets buzzed a US spy plane above the South China Sea, Beijing has officially escalated its displeasure at US surveillance up the chain of command and as Reuters reports, Beijing has demanded an end to all U.S. surveillance near China. 

As a reminder, a U.S. Defense official said two Chinese J-11 fighter jets flew within 50 feet (15 meters) of the U.S. EP-3 aircraft in what the Pentagon deemed an "unsafe" intercept. And, just like Russia, China has had enough and demands US provocations end.

• Lacking new ideas, G7 to agree on 'go-your-own-way' approach (Reuters)
• Japan's Aso tells G7 FX stability vital, no competitive devaluations (Reuters)
• Snubbed by West, Russia rolls out red carpet for Asian leaders (Reuters)
• The Fed Has Something to Prove to Wall Street (BBG)
• Trump's Supreme Court list: all conservative, some provocative (Reuters)
• Nasdaq Raises Lawsuit Threat Over SEC’s IEX Speed-Bump Plan (WSJ)
• Credit-Card Debt Nears $1 Trillion as Banks Push Plastic (WSJ)

It will be fitting, not to mention symmetric, if stocks which yesterday closed at 7 weeks lows and red for the year, end the week the same way they started it: with a rally on no news, just more hopes that oil (which as recently as two years ago none other than Chair Yellen said said would be be "unambiguously good" if lower) will continue rising.

The Biggest Bubbles: China vs. the U.S.

Written by Jeff Nielson (CLICK FOR ORIGINAL)

There is perhaps no other area where the tunnel-vision, hypocrisy, and corruption of the U.S. media is more visible than with respect to its nearly incessant China-bashing. Previous commentaries have exposed such vacuous drivel again and again and again.

One Place to Follow All Your Favourite Financial Sites Including ZeroHedge