As The CNY Goes, East Asia Goes… Maybe

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Editor’s note: This article was originally published on August 5, 2018, by Menzie Chinn here. For whatever reasons – capital outflows, PBoC non-intervention – the yuan has depreciated substantially since the Trump administration has announced Section 301 actions against China. This has implications not just for the CNY/USD exchange rate, but also other East Asian currencies. … Read more

Value Stocks Are Breaking Out. Hooray?

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via Robert Burgess A rotational shift with an ominous subtext leads market commentary. It’s been a long time since value stocks were in favor. Just ask David Einhorn, whose main hedge fund lost 19 percent through the first seven months of 2018 in a misguided bet that investors would come to their senses and start scooping up stocks … Read more

Federal Deficits Are Worse Than You Think

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via Mark Brandly Voters tend to be rationally ignorant. Since a single vote does not matter, for most potential voters, the cost of being politically well-informed is greater than the benefit of being knowledgeable about political affairs. Therefore, it’s rational for most voters to be ignorant regarding political issues. A main reason for the high cost of … Read more

Uncertainty Grips Troubled Pemex, World’s Most Indebted Oil Company

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“Even a small deterioration” in its perceived credit risk could take a big financial toll on Mexico. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Mexico’s President-elect, Andrés Manuel Lopez Obrador (AMLO), does not enter office until December 1, but he’s already making big waves, particularly in the oil and gas industry. On the … Read more

Giant floating trash collector will try to scoop up Great Pacific Garbage Patch

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SAN FRANCISCO – On Sept. 8, an ungainly, 2,000-foot-long contraption will steam under the Golden Gate Bridge in what’s either a brilliant quest or a fool’s errand. Dubbed the Ocean Cleanup Project, this giant sea sieve consists of pipes that float at the surface of the water with netting below, corralling trash in the center of a U-shaped design. The purpose of … Read more

California transforming bus drivers into teachers

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Carol Elgin spent last Monday preparing a tiny classroom at Foulks Ranch Elementary School in Elk Grove for students. She’s waited a long time to have her own class. Over the last six years, Elgin, 55, has been a substitute teacher and instructional assistant. Before that she spent 20 years in sales. But she had … Read more

Saudi Pumps $2 Billion Into TESLA… Musk considering taking company private

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Tesla shares rise on report Saudi Arabia sovereign wealth fund has $2 billion stake Saudi Arabia’s sovereign wealth fund has acquired a significant position in Tesla shares, according to the Financial Times. The media outlet says the Saudi’s Public Investment Fund bought a 3 percent to 5 percent stake in the electric car maker, according … Read more

NOW: LARGEST WILDFIRE IN CALIFORNIA HISTORY… 283,800 acres scorched

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The Latest: Southern California fire expanding into forest Authorities say twin blazes rapidly spreading in Northern California have become the state’s largest wildfire in history. The fires burning a few miles apart and known as the Mendocino Complex ignited July 27 and encompass an area the size of Los Angeles. It’s the second straight year … Read more

Kavanaugh Meets GOP Senators And IMMEDIATELY Walk Away STUNNED

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https://www.youtube.com/watch?v=VBRqAxexyRw The Western Journal reports, Now that Supreme Court nominee Brett Kavanaugh has met privately with almost every Republican senator, it’s becoming increasingly clear President Donald Trump’s pick for the bench is running into little GOP resistance to confirmation this fall. Read More/Source/Credit/FairUse: https://www.westernjournal.com/gop-se…

NASCAR CEO ARRESTED!

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ASCAR chairman and CEO Brian France will take a leave of absence from the sport his family founded after he was arrested for driving while intoxicated in Sag Harbor, N.Y., on Sunday night. The Sag Harbor Village Police Department said in a press release Monday that France was pulled over at 7:30 p.m. after failing to stop at … Read more

Millions drop off food stamps

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Watch the latest video at foxbusiness.com The number of people collecting foods stamps has dropped tremendously since President Trump took office, according to the latest numbers from the U.S. Department of Agriculture (USDA). More than 2.8 million have stopped participating in the Supplemental Nutritional Assistance Program (SNAP) – commonly known as food stamps – since Trump’s first … Read more

Why the Boomers Are Going Broke

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by Bill Bonner POITOU, FRANCE – We were taken aback on Friday by the ferocity of our dear readers’ comments. [Read more in today’s Mailbag.] What were they so sore about? we wondered. Son of Satan Of course, we are frequently wrong about a great number of things. When connecting the dots, we are bound to … Read more