The story of “Yield record in US Treasury Sale” should be deeply bothersome, especially for gold bugs. World in the FOMC minutes Wednesday that more stimulus may be needed should also flash warning signs all over the place that inflation is not the bogeyman.
Meantime, the report out Wednesday that foreclosures were on the rise (again) is similarly not likely to help the case of inflationists: It means more homes may be coming on the market, and that threatens to choke off any recovery in prices.
It’s not that the US Dollar is suddenly incredibly strong: What’s going on in foreign exchange trading is that people are getting a bit panicky about the Euro which means hot money is on the move.
While global markets may be wizening to the paper-over being only temporary, another fear is that China could be seeing some cooling, as well.
As our cherry on top this morning, let’s also note that other California cities, other than San Bernardino are rumored looking at bankruptcy.
Low interest rates, screaming tax increases (healthcare here, sales tax at 21% in Spain) and the question begs answering: Where’s the inflation?
From Labor this morning: “In the week ending July 7, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 26,000 from the previous week’s revised figure of 376,000. The 4-week moving average was 376,500, a decrease of 9,750 from the previous week’s revised average of 386,250. “
Markets still tracking for a serious “falls on ass” open.
Dow to Change
Kraft is planning to split into separate business units. Which means, seeing as this is a Dow component, that the Dow Jones people will have to figure out what to do to their famous index.
March to War
The West continues to build up an armada off the coast of Iran. A French carrier is the latest to be tossed into the mix.
Iran’s government news outfit is showing off lots of naval pictures as they attempt to bluster back.
Meantime, the US is promoting a code of behavior for settling international differences in the South China Sea area, which has to be like Russia telling us how to deal with Canada, but that doesn’t seem to have sunk in. We’ve still got that WorldCop suit in the closet…
Speaking of which, there are some mighty nervous folks in Canada, how that it looks like US police will be getting powers to arrest Canadians in Canadian waters. One argument involves hot pursuit, but the otherwise is that WorldCop suit may be getting bigger…
For the truly paranoid: This seems evidence that Canada is being subsumed by care to guess who?
Maybe Pierre Trudeau was right: It is like living next door to an elephant you hope doesn’t roll over on you…
Another Worker’s Paradise Report
Not that Cuba hasn’t done some things right. But since they are still in need of serious foreign aid to keep going, we note that a relief ship has sailed from south Florida for Havana. And Castrobro Raul is getting down on bended for Russian aid, again.
Seems even the honest craft of newspapering may have its comeuppance from technology: Robotic news software is in the works. In the works…in the works…in the…
Police State Notes
If you thought Posse Commitatus would keep the military from doing civilian jobs? Wrong: Military planes are being used to spray for mosquitoes in Florida now..real chemtrailing, huh?
And, in future trips to the airport, a new kind of laser scanner may be sizing you up to see how uptight you are about being in the airport. Oh, hyperspectral moniotring is not new says one of our well-informed sources. Just not hung out in public much before.
Cool article in AdAge about how people going out for epic partying may be interested in a super cheap, disposable phone, for those nights when the high end phone might get lost in the haze…
It’s a Hit
New article in Slate “When is it OK to Spank?” is worth a read, especially if you parent those kids who can never do anything wrong…
More after this…