What I'm reading this morning:
Stuff I’m Reading this Morning…
Shanghai Composite’s worst one-day loss in three years. Wait til you see this chart: (StockTwits)
Jesse Felder: “If the most important price in the most important economy in the world is being rigged, and everything else is priced off it…what happens if that price becomes unrigged?” (TheFeldReport)
Massive long-term failed breakout in the SPX chart. So far. (RiskReversal)
Meanwhile, the 10-year yield is headed to the moon… (ZeroHedge)
Roger Lowenstein: The Fed’s original framers would be shocked at all the daytrading of the economy. (NYT)
The Mafia-like organization which all the Central Banks answer too aka the Bank of International Settlements (BIS), is furious at all the hapless fiscal policies around the world. (Telegraph)
Speaking of dumb policies….here’s Bill McBride with a few howlers from Congress. (CalculatedRisk)
Smoke Alarm: Is China on the verge of a serious banking crisis? (BreakingViews)
People’s Bank of China weighs in, says “No, it’s cool. Mind your own f***ing business.” (FT)
Quartz: Our favorite charts of the year so far. (QZ)
The Case for Cash. (Microfundy)
NSA whistleblower Fast Eddie Snowden is hopping around the globe like James Bond right now – Hong Kong to Russia to Ecuador… (NYT)
“Douchebags like you are ruining San Francisco” said an non-self-aware douchebag. (ValleyWag)
REMINDER: Backstage Wall Street is now on Kindle!
