Friday, July 31, 2015
Yet more Friday news
So does gold finally collapse through $1080 this morning? Or is everyone who could be short already fully short? Oh this is so exciting!
Let's clean out the whole inbox for today:
Tim Duy - FOMC recap. He interprets the statement as slightly more hawkish.
New Deal Demoncrat - sorry doomers, there's still no sign of recession. This for all the clowns calling for an imminent crash. That they're all still in business tells us the market still has a long way to run.
Bespoke - investor sentiment craters. As above. Doom, doom, doomity-frickin'-doom.
FT Alphaville - a historical parallel to the Chinese stock bubble. I'm not going to spoil the ending, because it's a great read; and when you see who the "historical parallel" was, it'll really open your eyes, especially because China's leadership most definitely has studied that country's economic history.
Progressive Economics - Harper's real economic record. Short version: worst economic performance of a Prime Minister ever. Well, that's what you get when you vote for a hate-mongering think-tank ideologue, Canada.
Steve Keen's Debtwatch - help make Minsky easier to use. What? Economists do use dynamic modeling? Really? I'm just learning this now? Then why the hell are they teaching us undergrads 19th-century static bullshit? My only regret is that now I'll apparently be forced to take advanced theory and econometrics classes before I get to use Vissim. Oh well. Please support this guy's open-source dynamic economic modelling software project, it sounds exciting.
der Spargel - Germany being tested by refugee influx. Includes a long history of (post-war, ahem) German attitudes towards immigration, such as their less-than-welcoming attitudes toward their own people who fled the Russian annihilation of Prussia (that part of Germany that doesn't exist anymore). Hey, Germany: before whining about how you're being "tested" by a puny influx of 400,000 refugees per year, please note the rest of the world remembers you had no problem exterminating three or four million a year in the 1940s. Has German efficiency gone down in the interim? Or is it just easier for you people to destroy than to build? You're going to have to do more than resentfully hand some second-hand clothes to a few Syrians if you want to be let back into the human race.