Financial Markets and Economy
Wealth Bubble In ‘Scary Graph’ Flashes Warning About Future U.S. Downturn (Bloomberg)
Americans are about as wealthy as they've ever been—and that's a worry?
U.S. Stocks Advance as Commodities Retreat on Dollar Strength (Bloomberg)
U.S. stocks rose, sending the S&P 500 Index to a record, and the dollar strengthened as speculation mounted that central banks from Japan to Europe won’t be in a rush to add to unprecedented stimulus. Emerging-market assets and commodities retreated.
Next Week Is as Good as It Gets for Big Oil (Bloomberg)
For oil companies, the second quarter might be as good as it gets.
Oil rig count rises for a 4th straight week (Business Insider)
The US oil-rig count rose by 14 to 371 this week, a fourth straight week-over-week rise, according to Baker Hughes.
Here’s why one bull thinks the S&P 500 can rally to 2,400 (Market Watch)
Stocks returned to their winning ways. But even as the S&P 500 index logged a record finish on Friday, at least one Wall Street strategist was predicting that the next breakthrough level could be a lofty 2,400.
U.S. Gas Bulls Are Counting on This Heat Wave for a Price Rally (Bloomberg)
The heat that’s gripping parts of the eastern U.S., prompting power plants to burn record volumes of natural gas, has traders banking on a rebound in the market.
This Bull Market Is Powered by Your Indifference (Bloomberg View)
It’s the second-longest bull market in history. Stocks are expensive. This is the top.
The US Government Is Living Dangerously in Debt (PIIE)
Key economic indicators show the US economy is well on the mend. But the Great Recession has left long-lasting scars, including higher government debt ratios and, crucially, diminished prospects for economic growth during the next decade. The combination of high debt, mounting spending pressures from population aging, and moderate growth pose the risk of fiscal/financial crisis—a low probability event but one with potentially enormous costs for the US and global economies.
World's Airlines Crashing At Worst Rate Since 2008 (Zero Hedge)
With 'terrorist' incidents breaking out everywhere from San Bernardino to the south of France, it is perhaps no surprise that the world's airlines are struggling. But, as Bloomberg notes, over-capacity, rising fuel costs (so far this year), and weaker demand have hurt profits and crushed airline stocks to their worst year since 2008..
Another way hedge funds get the jump on regular investors (Chicago Business)
The drop-in visit is a favorite tool of the diligent investor: You pop into a factory or store to see if the activity matches the company's guidance. But what happens when you're trying to keep tabs on thousands of locations?
Gold Daily and Silver Weekly Charts – Grinding Slowly (Jesse's Cafe Americain)
August may be a big month for the metals, and we could see a taste of things to come next week with a Comex PM option expiry and an FOMC decision.
Politics
Seven things you’ll see in Philadelphia that you didn’t see in Cleveland (Washington Post)
Now that the Republican convention has finally come to its end — fittingly, with the party’s nominee shouting for 75 minutes that America is a dystopian nightmare of misery and fear that can be saved only through the intervention of a single powerful leader — we can turn our attention to the Democrats’ gathering next week. And while the two events will have a few superficial things in common (funny hats, drunkenness, bunting), the contrast between the conventions is going to be striking.
Top voting issues in 2016 election (Pew Research)
The economy and terrorism are the top two issues for voters this fall. Overall, 84% of registered voters say that the issue of the economy will be very important to them in making their decision about who to vote for in the 2016 presidential election; slightly fewer (80%) say the issue of terrorism will be very important to their vote.
Appeals to Fear Don't Work in Presidential Elections. Usually. (Bloomberg View)
Donald Trump last night offered a funhouse mirror version of one of the greatest speeches in American history: Franklin Delano Roosevelt’s first inaugural address, in 1933. In the midst of a genuine crisis, the Great Depression, FDR began by emphasizing his “firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror.”
Technology
Four Cool Technologies That Clear the Air (Popular Science)
Humans have built vast systems to dredge carbon out of the earth and hurl it into the sky?—?cars, planes, ships, factories and power plants all across the globe. As carbon pollution cooks the planet, scientists are looking for ways to scrub the heat-trapping gas from the atmosphere and return it to the ground.
Health and Life Sciences
The 7 Types Of Cancer That Alcohol Might Actually 'Cause' (Forbes)
If there was ever a research area to inspire confusion in the public, it’s the alcohol-and-health debate. Some studies suggest that alcohol may be good for us in certain ways, while others find that it’s decidedly bad. Much of the discrepancy may have to do with the quantity of alcohol consumed, and the other lifestyle habits that go, or don’t go, along with it. Now, a new paper in the journal Addiction suggests that alcohol is not only linked to, but may actually cause, seven different types of cancer. But as always, the dose makes the poison.
Is the World Ready for Synthetic Life? Scientists Plan to Create Whole Genomes (Singularity Hub)
Last weekend, an invite-only group of about 150 experts convened privately at Harvard. Behind closed doors, they discussed the prospect of designing and building an entire human genome from scratch, using only a computer, a DNA synthesizer and raw materials.
Life on the Home Planet
What it’s like in Turkey after deadly coup attempt (Futurity)
When an attempted military coup roiled Turkey on July 15, Brian Silverstein was in Turkey to give a keynote address related to his research, conduct fieldwork, and visit family.
Rare bog butterfly flutters back from brink (BBC)
A small bog in Lancashire is once again home to a rare species of butterfly, for the first time in 100 years.
The large heath butterfly has been disappearing from northern England, where it was once common.
