Here's some fun reading:
Calculated Risk - preliminary June consumer sentiment COLLAPSES!!! My god! Just look at the damage done to this chart!
Wait... what? You mean Zerohedge and Business Insider hyped up a result that is well within the chart's noise level? Why would they do that?
FT beyond brics - China bear with bull's horns. I'd care more about what Andy Xie has to say if he wasn't an idiot who's spent the last decade being wrong:
For those looking for signs China is headed for its own economic melt-down, look no further than uber-bear Andy Xie, a former colleague of Roach’s at Morgan Stanley.Let me translate the above for you: if you had spent the last decade listening to Xie, you'd never have made a penny off of China. So do you really want to start listening to him now?
For more than a decade, Xie, now an independent economist based in Shanghai, has been predicting apocalypse for the Chinese economy but in recent months something strange has happened.
Just as everybody else in the world, including senior Communist Party leaders, start to really worry about an impending Chinese crisis, Xie has strapped on a pair of bull’s horns.
According to Xie, the current property-led slowdown in China is “good news” and shows “China’s economy is finally ending its bubble addiction.”
Reuters - China ramps up spending to spur economy. I guess that's good for gold demand, innit? Let's see: a $50 billion extra stimulus, 20% vig to the local officials, 50% of the vig gets laundered in Macau, 50% of that buys a Toronto condo and the rest buys gold bars that get stashed at the downtown Toronto HSBC... how much gold is that?
Bloomberg - SEC finally figures out the Allied Nevada buyout offer was a pump-n-dump scam. And now all they have to do is find a Chinaman in China. Should be easy, right? Not that many people named "Chang" in China.