“Fear has taken over” – no we’re not talking about the North Korean crisis, the EU disintegrating or this picture. These were the words of one analyst after yesterday’s global market volatility.
IN A NUTSHELL: MUST READ
Manic Monday For The Markets
Panic, turmoil, and carnage are just a few of the words to describe the global markets as bad economic news out of China reached a tipping point. Here is how yesterday went down (summary it was very, very bad):
China released bad economic news last Friday.
On Monday, the Shanghai exchange fell 8.5%, erasing all gains for the year.
European markets followed suit with the London FTSE and the Frankfurt DAX down 4.7% and the Paris CAC down 5.4%.
America was also hit with the Dow Jones ending down 3.6% percent after opening down 6.6%.
Aaaand back to Asia this morning as Shanghai opened down over 7%…
China’s government has been uncomfortably silent… Meanwhile, Larry Summers sounded a warning that the US Federal Reserve should avoid raising rates too soon and Presidential hopefuls were quick to use the crash to their advantage. Donald Trump warned on Instagram that China “will bring us down” and Bernie Sanders tweeted that Wall Street had rigged the system against average citizens… very helpful.
Pnut’s Nutshell on China
NUTS AND BOLTS: SHOULD READ
North And South Korea Put Away Missiles And Apologize
After days of tense negotiations, North and South Korea have agreed to de-escalate threats against each other after the North expressed “regret” over an incident that killed two South Korean soldiers near the border. The North agreed to end its “semi-state of war” and the South agreed to stop playing Korean pop music over the border. Now the countries go back to a “quasi-state of war“…well what a relief.
Senate Minority Leader Harry Reid (D-Nev) came out in support of the Iran Deal over the weekend (what took him so long). His support gives the pro-deal side (all Democrats) a much needed boost as they seek to stop Republican attempts to block the deal. Senator Stabenow (D-Mich) also came out in support, putting the Dems just six votes short of securing the Deal. Whenever you guys are ready…
Pnut’s Nutshell on the Iran Deal
Ashley Madison Data Breach Leads To Suicide
Hackers thought they were doing society a favor by exposing the list of members on Ashley Madison, a website that helps people have affairs, but things took a dark turn as two suicides related to the data breach were reported in Canada. The site’s parent company has offered a $380,000 reward for information on the hackers. It is probably safe to say that what goes on in other people’s bedrooms is none of our business…
#pnut4prez: VP Biden “Thinks” About Running
Joseph Robinette Biden, the VP gaffe-machine who called President Obama the “first mainstream African-American who is articulate and bright and clean” has been exploring a third bid for the Presidency after Hillary’s approval ratings dipped in the wake of “e-mail” scandals. Biden, whose late son Beau, encouraged his father to run for president, met with everyone’s favorite banker-basher Elizabeth Warren for discussions on “what the country is telling us” (code for “I’m going to run”). Hillary should be worried, Trump doesn’t care, Biden is well….just Biden.
Trump Tactics: After offering Lindsey Graham’s number to the world, Donald Trump posted a video on his Instagram (yes he has one) of Barbara Bush, Jeb Bush’s mother, in which she firmly states that another “Bush” should not run for office. Might be an awkward family reunion…
Oil Price Gap: Prices for oil hit a record low since 2009. Interestingly, gas prices are not following suit. Economic and industrial factors are at play in the largest gap between crude oil and consumer gas prices.
LOOSE NUTS: FOR YOUR ENJOYMENT
Kiwi Government Assassinates Endangered Birds…..Oops
New Zealand was left mourning this weekend after four of its flightless, endangered Takahe birds were accidentally shot when they were mistaken for another species. Hunters (hired by the Department of Conservation….irony at it’s best) had been looking to cull up to 600 of another Pukeko bird species but despite differences in color, height, size and every other detail they culled the wrong species (only 296 left). The Head of the Hunter’s Association apologized “to the nation“.
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