• Inflation hits 13-Year High in the US
• Britain’s inflation rate rose to 2.5% in June, far exceeding expectations ..

• China's gross domestic product was up 7.9% YoY

• World Health Organization (WHO) says that the Lambda variant has now been found in 29 countries, and it classified it as a “global variant of interest,". It may lead to a two-to-threefold reduction in vaccine-triggered antibodies, compared with the original COVID-19 strain. 

• The Tennessee Department of Health will halt all adolescent vaccine outreach – notjust for coronavirus, but all diseases – amid pressure from Republican state lawmakers, according to an internal report and agency emails obtained by the Tennessean. If the health department must issue any information about vaccines, staff are instructed to strip the agency logo off the documents.. Dark Ages!
• People who are not vaccinated are bearing the vast majority of disease burden, making up over 99% of hospitalizations and deaths.

• Bloomberg: Global vaccinations of seafarers are going too slowly to prevent outbreaks on ships from causing more trade disruptions, endangering maritime workers, and potentially slowing economies trying to pull out of pandemic slowdowns.

• A key crop waterway in Argentina, the biggest exporter of soy meal, is the driest since 1944, driving buyers to its neighbor and rival Brazil.

• Here is a 52-week money challenge, where you put away $1 to start and continue to increase your savings each week by $1; at the end of the year, you’ve set aside $1,378 with minimal pain. (From Erin Lowry @ Bloomberg)

Oats: American farmers are now expected to harvest their smallest oats crop in records that go back to 1866.

HGX: regression to the mean ?

Latest Dow Theory Prediction:

Should the DJI close below 33,165 "and" the DJT close below 14,413  our Dow Theory interpretation will be bearish.

 

Quick Overview is up to date.

 

Notes today:

• Finance ministers of the Group of 20 major economies meeting in Italy have failed to agree on a climate pledge to achieve net zero greenhouse gas emissions by 2050, according to people familiar with the matter.
• Meanwhile: Temperatures in Death Valley, California, reached a beyond belief 130 degrees Fahrenheit (54.4 Celsius) on Friday.

• China cut is reserve requirement ratio by 0.5% releasing 1 Trillion Yuan in liquidity to boost its economy. This is the first time since the height of the pandemic in 2020.

• A British regulator said on Friday that banks clearing gold trades in London could apply for an exemption from tighter capital rules due in January 2022, removing what some said was a threat to the functioning of the market.

• Concern is rising about the fast-spreading delta variant of the virus. The Alpha, Beta, Delta, and Gamma variants have already made the VOC list.  Lambda may be next ..

• President Joe Biden on Friday signed an executive order that the White House bills as an effort to target anticompetitive practices in tech, health care and other parts of the economy while boosting workers' wages and consumer protections.

• The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2021 is 7.9 percent on July 9, up from 7.8 percent on July 2. After this week’s releases from the Institute for Supply Management and the U.S. Census Bureau, the nowcast of second-quarter real gross private domestic investment growth increased from 4.7 percent to 5.1 percent.

• All three major US averages notched record closes on Friday,

Some say the world will end in fire,

Some say in ice.

From what I’ve tasted of desire

I hold with those who favor fire.

But if it had to perish twice,

I think I know enough of hate

To say that for destruction ice

Is also great

And would suffice.

-- Robert Frost 

 Wow, used car prices dropping 😏

 

Quick Overview is up to date

BS looks to be increasing exponentially - in lots of places!

Bloomberg: Crypto Scammers Rip Off Billions as Pump-and-Dump Schemes Go Digital

 

Quick Overview is up to date

 Voting Rights

Bloomberg: Prices paid to suppliers rose to its highest level since 1979.

FT: China is banking that the development of the necessary financial infrastructure, the country’s world-beating mobile payments systems and a successful launch of the digital version of the renminbi will make it easier to use and promote the currency beyond China’s borders.

 Climate disaster! Take a look.

British Columbia as hot as Death Valley!

 

Later

Evidently, we're (me 0) worth $16-per-month to Facebook (AKA the plague on humanity), double 'our' value of 2017.

And the HUI (Gold Bug Index) is struggling..

 Wondering if the FXI (China ETF) is working on a double top?

 

Quick Overview is up to date