Investors are starting to worry about the economy

Wall Street doesn’t seem to care about the escalating trade war between the United States and China. The Dow jumped 175 points and the Nasdaq climbed 1% on Tuesday despite Washington and Beijing pushing ahead with another round of punishing tariffs. Investors are betting the US economy will continue to power ahead of the rest of the world. Read more


Permits Plunge But Starts Surge As Housing Data Suggests Rough Future Ahead

After small rebounds in July (after three ugly months prior), August was expected to see those gains consolidate but the picture was extremely mixed with Starts spiking 9.2% MoM and Permits plunging 5.7% MoM. Read more


Three Lessons from the Kavanaugh Debacle

You might not particularly care if the Senate confirms Brett Kavanaugh to the Supreme Court or not, but we should care very much about the spectacle playing out in the press and social media. The overall effect is to remind us of Washington DC’s status as the center of the universe, how Supreme Court justices necessarily and justifiably wield tremendous power over our lives, and why we should feverishly vote this fall to make sure the bad guys don’t win and inflict their judges on us for the next fifty years. It’s hysterical, and demeaning. But people understandably feel forced into treating the Supreme Court makeup as a life and death political struggle. Read more


Tilray Goes Parabolic: Stock Soars 40% Premarket, Market Cap Hits $20 Billion

Less than a year ago, traders watched in dumbfounded amazement as bitcoin soared every day as momentum chasers were hooked. Now, it’s all about pot stock Tilray, which is up another 40% on Wednesday morning, soaring to $218 in premarket trading, its third straight day of relentless gains after CEO Brendan Kennedy pithced the company’s growth prospects in an interview with Jim Cramer on Tuesday. Read more


It’s The Customer, Stupid: A Marx vs. Menger Battle on Netflix

Somehow, an all-star Hollywood cast created The Company Men(2010) and it got past the usual censors. The movie is an effective rebuttal to Arthur Miller’s 1949 Death of a Salesman. The recently-laid-off characters spend the movie living their lives after rounds of layoffs. In doing so, they effectively act out a debate between a proponent of communism — Karl Marx, and a proponent of the free market — Carl Menger. Read more


U.S. official: Canadian marijuana users, workers and investors risk lifetime border ban

Canadians who work in the marijuana industry — and those who invest in the booming pot sector — risk a lifetime ban on travel to the U.S., according to a senior official overseeing U.S border operations. Read more


No, Robots Cannot Replace Us

Automation seems to be a never-ending source of fear-mongering. Judging from the commentary, robots will “replace us” and cause large-scale unemployment. With the entry of artificial intelligence (AI), and robots that make robots, the value of human beings as productive forces in the economy is simply zero. People then become value-less consumers, only “mouths to feed” while production is carried out by machines. Read more


Only 3% Of Homeowners In Parts Of Hurricane-Slammed North Carolina Have Flood Insurance

In the coastal areas that were hardest hit by the storm, USA Today estimates that only between 10% and 20% of homes are insured. Further inland, where flooding is still devastating thousands of homes, rates are as low as 1%. Read more


Economists Versus Special Interests Groups

Economic policies are directed toward the attainment of definite ends. In dealing with them economics does not question the value attached to these ends by acting men. It merely investigates two points: First, whether or not the policies concerned are fit to attain the ends which those recommending and applying them want to attain. Secondly, whether these policies do not perhaps produce effects which, from the point of view of those recommending and applying them, are undesirable. Read more


The Hamstrung Fed, Gold, & The Bursting Of China’s “Mother Of All Credit Bubbles”

The Fed is raising interest rates late in the economic cycle. The problem is that inflationary pressures have finally reached a critical mass where they have rendered the Fed’s monetary policy ineffective. The Fed cannot fight inflation and prevent financial asset bubbles from deflating at the same time. Read more


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