It seems like President Trump just explicitly proved his administration lied in order to get around ethics rules
26 hours apart -- (h/t @AnnieLowrey)
More Countries Join the Euro-Area Recovery Bandwagon - BBG
Today in conference call gold
Trumps Strategic and Policy Forum to disband: source via @Reuters
#DeepLearning Applications in Medical Imaging [by @abderhasan v/ @TechEmergence] #AI
Kenyas Odinga to take poll dispute to top court
Unsustainable groundwater use is unsettling Vietnam’s capital.
U.S. adopts combative tone as talks begin on revamped Nafta
CULedger Credit Union Consortium Launches Blockchain Services Business
#BREAKING: Trump ends business advisory council after CEOs resign
At last, a big, successful trial of probiotics. @edyong209 reports.
Nights are getting warmer across the US—and its not a good sign #climatechange
GOP Senator Drowned Out By Cheers for #SinglePayer at Town Hall #medicareforall
Meet the heir to Donald Trumps racist kingdom:
US Army helicopter goes down near Hawaii
Go Boston 2030 What Lies Ahead
The deafening killer: @adamswersky on why noise will be the next great pollution scandal
Africa: Business confidence remains high. #SMI
Fox Friends guest breaks down in tears: Anyone who defends Trump is morally bankrupt
Tencent to boost AI after profit jumps on mobile games, WeChat
Multi-billion dollar subsidies for Brazilian business are facing the chop
Maduro ally says next years presidential election is still on
Its not Trumps politics. Its his long history of race-baiting
#Gold reverses up in US trading today (Aug. 16, 2017)
Koeman backs record signing Sigurdsson to boost Everton attack
Zimbabwes government requests diplomatic immunity in South Africa for Grace Mugabe
Heres the rare retail experience thats still more fun at the store
Piketty confirms Russias plunder. Whats the West doing about it?
Casa Xixim by Specht Architects opens up to Tulums jungle and ocean:
Israeli forces demolish house of al-Aqsa attack suspect
An indelible image from Trumps on both sides press conference (via @megangarber)
Poll: Trumps approval rating hits new low
SP 500 Most Expensive In History Based On Price To Sales $
Israeli forces demolish family home of al-Aqsa attack suspect
Can the #GenderGap Be Measured in Dollars Only? via @ipsnews #genderequality
#Cubans upset over recent indefinite suspension of permits for independent business.
In the market for a new home in the U.S.? Youll do better if you look in Texas
America is struggling with long-term economic rot. @Noahpinion catalogs the symptoms
Paul Singers investment vehicle makes its $33 billion presence felt in Europe
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China should release Liu Xia, or risk repeating a terrible injustice @GlobeDebate
Options Traders are Bracing for Baba!
#DonaldTrump Proves Why #nuclear Weapon Systems Don’t Work for our safety -
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No deals in sight as spending, debt limit deadlines loom
Blasters realising value of longer delays allowed by EDDs
US names Kashmirs Hizbul Mujahideen as terrorist group
COMING UP: Former CBO Director Douglas Holtz-Eakin discusses the debt ceiling and the budget
In pictures: Documenting melting ice in the Northwest Passage #photography
Index on prices for exported agricultural commodities rose in July to 178.7 (2000=100)
Last night, Baltimore showed America how to take its Confederate monuments down
Capital Economics: #Toronto #housing market down and out #cdnecon
US home refinancing applications rise to a near two-month high: MBA via @Reuters
Edward Hopper, Men Seated at Café Table [1906]
@ShaunKing Heres another photo of the guy on the left, front facing:
The King of Pop Lives On in Okoths Paintings: #Kenya
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Is there any truth to the theory of behavioral priming? @Neuro_Skeptic
China tells U.S., North Korea to hit the brakes on nuclear threats:
Fix My Finances: Im an impulsive shopper
Antidotes from the heroin era arent enough to handle overdoses of synthetic opioids
90% think Pension and other Fixed Liabilities are NOT priced into the market. #muniland @RiggsReport @MuniRiskLTD
@Noahpinion ive discovered an elegant refutation of the efficient market hypothesis
Maryland governor candidate arrested at immigrants rights rally
Most Still Say Newcomers Should Adopt American Culture...
BREAKING: President Trumps strategic and policy forum has disbanded - source.
States test auto-enrollment retirement plans for people who don’t get one at work via @WSJ
Larry Summers yesterday: Why don’t all CEOs quit Trump’s advisory councils?
Labour MP Sarah Champion resigns over grooming gang piece in The Sun
And its worth asking whether America needs a bit of this medicine as well... (end)
The F-35B - The primary weapon of HMS Queen Elizabeth -
.@onesarahjones: ht @JStein_Vox
You can significantly reduce your risk of complications by keeping blood sugar levels close to normal high sugar...
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Angela Merkel takes to YouTube to woo young voters
Trump once again unloads on Amazon
Developers must build low-cost homes or publish finances - London mayor
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Trump praises North Korean leader for wise decision
But really, gender equality is just one piece of a bigger goal - changing to a results-oriented workplace culture.
The shift from valuing time input to valuing results will be a wrenching one. But it has to happen.
Sign up for our weekly newsletter to stay up-to-date on our best stories from the week.
The world has not had enough of Daniel Craig as Bond
James Chapman – New UK #Centrist Party – You Couldn’t Make This Up!?
JUST IN: Sessions: Charlottesville car attack could be considered a hate crime
Couple on Crete drown trying to save their children
ChartBrief 131 – SP 500 Seasonality Stir $ $
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3M CEO Inge Thulin resigns from Trump’s manufacturing council from @GlobeBusiness
We need your help! Vote for CityLab to appear at the #SXSW Cities Summit
Michael Moore marches his Broadway audience to Trump Tower to protest
Right-to-Carry Laws Are Making Violent Protests like Charlottesville Even Harder to Defuse
Want an independent-minded MP? Vote for a career politician
The screen cap on this story more or less encapsulates American race relations right now.
China’s ‘new achievements’ in legal reform exist more in policy than in practice
Exclusive Interview: @JPNicols, @nextmoney_ and the #Chicago #FinTech Scene
Connect with tomorrow’s #technology today. Become an Insider -
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Rolling Stones logo registered as trademark in the U.S. on this day in 1977.
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Georgia judge suspended for comparing anti-Confederate protesters to ISIS: report
Daniel Craig confirms he will play James Bond one more time
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Martin Wolf: Nothing like this has happened in 323 years via @FT
is there really a correlation?
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The #Disney Streaming Debacle #Netflix
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In the age of Trump, progress no longer feels inevitable—or even likely.
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Ireland rejects EUs demand that it collect 13 billion euros from Apple
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Chyron watch
The Blueprint For Successful Dividend Investing $
Rome police nab killer after legs found in trash
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Going it alone: President Trumps CEO council has disbanded itself
COMING UP: Albright Stonebridge Group Co-Chairman Carlos Gutierrez discusses Nafta
#ECB 16/08/2017
Daniel Craig confirms he will return as James Bond in 2019 film @GlobeArts
Craft beer could be fueling your neighborhoods resurgence
Hope Hicks has been named Trump’s interim communications director
China urges India to protect peace after border altercation
One is coupled with an ideology of hatred, violence and genocide – the other isnt.
Only 22% of Americans believe that Trump opposes white nationalism. 31% say he supports it.
JUST IN: 3M CEO becomes seventh to quit Trump council since his statement on Charlottesville
Krystyn Van Vliet named associate provost
ESG Fund Index Says ESG Is Better For The Environment And Your Returns $
Travel photographer captures gorgeous flowing gowns against breathtaking landscapes
Graham: Under Trump, GOP has put welcome mat out for the David Dukes of the world
Death of baby dolphin as bathers play with it, take photos triggers outrage in Spain
Yes, Daniel Craig will return as 007
Sync your schedule with whats going on around the solar system
Violent weekend in #ElSalvador leaves 67 dead | Via @PanAmPost_es
Recognizing another outstanding KDOR employee--Caroline Hartter. Thanks for all you do Caroline! #Kansas #ksleg
Bringing poverty-alleviating solutions to market in India, Kenya, Nigeria, Tanzania,…
White House names Hope Hicks as interim communications director
In 2016, @Facebook and @Google make up about half of all digital display advertising revenue
WHEN the monuments were built tells you a lot about WHY
Walnut Whips are losing their walnuts amid chocolate downsizing scandal
Excellent reporting by @lizzadwoskin on how Facebook is killing startups innovation.
. @BarackObama’s response to Charlottesville is now the most ‘liked’ tweet of all time
New Insights Into the Survival Techniques of a Prehistoric Beast: #SouthAfrica
Is it OK to punch a Nazi?
How We Got to Here: A #Charlottesville Reading List @Longreads
Guam Residents Hesitant About US-NKorea Tensions
Im surprised Trump hasnt blamed Obama or Hillary for #Charlottesville. (from @AP)
Children of the 1% are 77 times more likely to go to the Ivy League than poor Americans
Colombias FARC completes disarmament
The Real Story of All Those Confederate Statues
An indelible image from President Trumps on both sides press conference, by @megangarber
Tencent to boost AI after profit jumps on mobile games, WeChat
JUST IN: Court rules Arkansas can cut off Medicaid funds to Planned Parenthood
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The real prize in #Brexit trade talks. @hecharts @jiboxell explain
If you dont trust science, is the eclipse going to happen? @jameshamblin reports
JUST IN: 3Ms CEO resigns from Trumps manufacturing council- report
Critical detail here, via @gelles
Dudley is just another Goldman Sachs inside man.
With ancient DNA, researchers uncover how cats first became domesticated: @GemmaTarlach
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Zinc is going bananas.
Could the total solar eclipse reveal a comet?
#Argentina | @CFKArgentina victim of a small taste of her own medicine Via @PanAmPost_es
@johnmoe @AndyRichter
Republican senator Graham says Trumps race remarks dividing US via @Reuters
Let Them Eat IPads! - Bill Dudley Do-Right
New York Fed President Bill Dudley, discussing Fed models at a recent conference.
McConnell says all need to stand against hate and violence via @Reuters
New York Feds William C. Dudley, $AIG Shareholder, Got 2008 Waiver to Work on AIG Bailout
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Solving Rwandas energy problem
Heres our running list via @ewolffmann:
This is going to be fun.
Fisher just called this nerd the Primus inter pares of the Fed.
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Kenya Opposition wants access to elex computers
Behalf and FinWise Bank team to boost SME lending options » Banking Technology
The beautiful thing about the Fed is that you check your politics at the door. - Dick Fisher $BCS
The Tories have missed a chance to show that they care about student debt, says @georgeeaton
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This evenings reading.
Marrero Perez claims to have created the Piña colada on August 16, 1954.
Ottawa, B.C. consider help for farmers affected by wildfires From @GlobeBC
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China hits back at ‘not perfect’ US after criticism of its record on religious freedom
Final turbine installed at worlds first full-scale floating offshore wind farm - BBC News
Protestors condemn the growing pace of# indigenous rights violations in #Brazil.
Fewer and fewer American lives are lost to lighting strikes. #health #progress
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End of U.S. payments to health insurers would cause premiums to rise: CBO
U.S. regulators charge bank employee, six others with insider trading
Bloomberg, 2011
Good Lord - speak of the devil! @CNBC
Save $600 by Aug 18. #ArgusMexRefProds #MexicanEnergyReform #refinedprods #USGC #Mexico
Analyst Baye Larsen quoted in @BloombergBriefs on #NewJerseys plan to shift #lottery revenues to #pensions #NJ
Mugabes Party Registers Youths for 2018 Poll: #Zimbabwe
Classic panamax boxship segment picks up
New Miami liner company readies launch
Cyber-attack wiped up to $300m from Maersk’s books
Baltimore removed four Confederate monuments overnight, @ckmarie reports:
Neo-Nazi website banned by Google gets Russian web domain
#Eurozone growth accelerates, cyclical recovery continues ~Fitch #euro #ECB $EURUSD
Full statement from 3M on their CEO’s resignation from Trump’s council
Why investors should ignore the news cycle: trader
The White House has named 28-year-old Hope Hicks interim communications director
3M CEO Says He’s Resigning From White House Manufacturing Council
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Google Lunar XPRIZE pushes deadline into 2018
Bannon praised Trump for blaming both sides for Charlottesville violence:
Should you try to take a photo of the eclipse? @rboyle31 collects our readers thoughts
I guess they just figure no one has a memory.
All of this was occurring a full year before Lehman Brothers filed bankruptcy.
Tears and tributes at Virginia memorial for rally violence victim Heather Heyer
Migrant rescue operations halt after Libya threat
Duterte brags about “beautiful” drug war after deadliest day yet
Corporate Media Continues to Pump Out Fake News on Wall Street Crash of 2008 @wsj @latimes
11 new products to fall in
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Cities Can’t Prejudge Winner in Green v. Grey Infrastructure Battle
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Avg hourly wage vs job growth for Real Estate Retail Trade occupations
all percentages are approximate except the purple one
UK labour market strength persisted into Q2, but still generates only meagre wage growth
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Norway most productive country in northern Europe: research
Dem lawmaker demands Trump be removed from office:
Savor this five-senses forecast of future cities
In rare rebuke of Trump, UKs May says leaders must condemn far-right views
Doesnt take much for us to give up our #privacy, does it?
Surely $JPM, run by St. Jamie, is different?
Yes, China is different. #Tencent knockout today, $BABA tomorrow...
WATCH: Colbert: Trumps Charlottesville remarks came from the seventh circle of hell

Mike Shedlock

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. He operates the blog MISH'S Global Economic Trend Analysis and believes in the Austrian School of economics.

Producer Prices Unexpectedly Decline

6 days ago

The Producer Price Index (PPI) for final goods unexpectedly declined in July. The PPI fell 0.1% as did the core PPI which excludes food and energy. THe Econoday consensus expected a 0.1% gain.

Lack of inflation has been the issue this year but July’s producer price report raises new concerns, that is disinflation. Headline prices fell an unexpected 0.1 percent with the less food & energy reading also at minus 0.1 percent and the less food, energy & trade services no better than unchanged. Year-on-year rates are all down 1 tenth, to 1.9 percent overall with less food & energy at 1.8 percent and the third reading which also excludes services at 1.9 percent.

And services are the major concern in this report. Overall services fell 0.2 percent in July with the closely watched trade services down 0.5 percent and reflecting price weakness for chemicals and also machinery. Other readings include a 0.1 percent decline for total goods, a 3rd straight monthly decline for energy, down 0.3 percent, and no change for foods.

Prices this year, in part reflecting lack of wage traction, have been unusually weak and if tomorrow’s consumer price report proves no better than today’s wholesale price report, doubts over Federal Reserve intentions to further remove stimulus, including the initiation of balance sheet unwinding, will very likely build.

PPI Final Demand

PPI Goods vs Services

The above charts are from the BLS Producer Price Report.

Our Keynesian Econoday parrot is concerned that consumers may get better prices. The parrot is always happy when consumers and producers have to pay more to get less.

The fact of the matter is standards of living rise when people pay less to get more.

Mike “Mish” Shedlock