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1…………> Fed Shamans To Dance Around Fire: New Policy
The Fed has printed so much paper money, $21.7 trillion dollars to be exact, that it could abandon its key indicator of future crises – the yield curve, a gap between the yields on US government bonds and Treasury notes, as it is currently pointing at a major recession just ahead, an ominous contrast to every other measure of economic health.
“We are doing a lot of work to see what metrics are there to give us signals about weakness in the marketplace. I want to make sure we do all that we can not miss something,” Raphael Bostic, President of the Federal Reserve Bank of Atlanta, said.
But some investors are expecting the yield curve to finally invert, with near-term bonds (2-year Treasuries) yielding more than longer-term ones (10-year notes) as soon as in the middle of next year due to the bloated Fed balance sheet that has distorted bond market dynamics.
2…………> “It Is Obama’s Fault”: Crimea
As Mr.Trump is going through the particulars of his visit to the Islamic May’sdom of UK, he has pointed out that Russia would not have invaded Crimea under his watch and also announced that DPRK Leader Comrade Un had sent him a “very nice” note.
“Trump says Putin would not have invaded Crimea if he were president, blasts ‘Obama disaster’President Trump claimed Friday ahead of his summit with Vladimir Putin that the Russian president would not have invaded Crimea had he been in office, calling the globally…”
Donald J. TrumpVerified account @realDonaldTrump 22 hours ago
Great success today at NATO! Billions of additional dollars paid by members since my election. Great spirit!
Donald J. TrumpVerified account @realDonaldTrump 23 hours ago
A very nice note from Chairman Kim of North Korea. Great progress being made!
….On top of it all, Germany just started paying Russia, the country they want protection from, Billions of Dollars for their Energy needs coming out of a new pipeline from Russia. Not acceptable! All NATO Nations must meet their 2% commitment, and that must ultimately go to 4%!
AJ+Verified account @ajplus 13 minutes ago
The #TrumpBaby blimp flew high over Parliament Square as crowds gathered to protest President Trump on his UK visit
Kyle GriffinVerified account @kylegriffin1 11 minutes ago
London Mayor Sadiq Khan says that Londoners are protesting Trump himself and not America or its people. (via Bloomberg)
London Is Not Anti-American, Mayor Says
Sadiq Khan comments on Donald Trump’s visit to Britain.
3…………> Smoke & Drop: China Airline
Despite the usual “No Smoking ” sign on every aircraft bathroom door, a co-pilot puffing an e-cigarette on an Air China flight caused the plane to start a rapid emergency descent, as he tried to cover-up his crime by accidentally shutting off the air-conditioning, causing oxygen levels to fall.
The surprised crew released oxygen masks and brought the plane more than 6,500m (21,000ft) lower, it later returned to cruising altitude.
4…………> Old Hankies: A Route To Freedom
This story comes to us courtesy of the talented writer Georgina Kenyon’s and her father-in-law, Howard, who as a member of the Australian Air Force during World War II kept his old cloth hankies for posterity.
“The old hankies,” as he called them held a secret, being war-time maps that look like handkerchiefs, depicting old boundaries and conflicts in Europe, important escape routes, mountain passes, roads, or an airfield. Your life could depend on these maps and reassured aircrews that they would get back to safety.
Aren’t we proud of all those Aussie service men and women like old man Walker who fought the incredible evil of the Nazis and their hoodlum friends in the Pacific, shoulder to shoulder with all other armies of the “Greatest Generation” to save the world? Yes, we are, and thank them for their sacrifice and service.
5…………> China Trade Surplus: Exploding
China’s trade surplus with the US has surged to a record high, jumping 17% to a record $29b in June, due to higher-than-expected exports of iron ore.
It is the widest gap reported since official figures were first released by Chinese customs officials 20 years ago, despite President Trump tariffs of 10% on $US200 billion worth of Chinese imports due by September.
In addition, China’s Ministry of Commerce described the US investigation of intellectual property abuses as “slanderous, groundless and without legal basis,”
and said that China would continue to “uphold free trade and the multilateral trading system”.
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