Wednesday, August 14
Is the Trump Recession Coming? Recession Warnings Pile Up for the Battered Global Economy (Bloomberg)
Check for Live Updates at SheekeyDaily.com.
With trade spats, cooling global demand and geopolitical crises all coalescing to hit growth, the world economy is heading for its weakest expansion since the financial crisis. The impact of trade tensions “on business uncertainty in terms of sapping export confidence and investment is bad, and that’s persisting,” said Mike Gallagher, head of strategy at Continuum Economics in London.
Recession Fears Spike to 2011 High as Risk of Bubbles Spreads – Survey (Bloomberg)
Trade war concerns topped the list of the biggest tail risks, followed by the fear of monetary policy impotence, according to a Bank of America survey of fund managers.
U.S. Mortgage Debt Hits Record, Eclipsing 2008 Peak (Wall Street Journal)
Doom and Gloom Spreads: Yield Curves Invert in U.S. and U.K. (Bloomberg)
Why Yield Curve Inversions Matter: ‘A Reliable Indicator of Impending Economic Slumps’ (Bloomberg QuickTake)
From QUIC <GO> on your Bloomberg terminal.
Trump’s 2020 Rust Belt Pitch Threatened by Manufacturing Recession (Bloomberg)
Waning of American Power? Trump Struggles With an Asia in Crisis (New York Times)
The Trump administration has taken a hands-off approach to conflicts — from Kashmir to Hong Kong to the rivalry between Japan and South Korea — as Asian officials escalate the battles. Washington has chosen inaction, and governments are ignoring the Trump administration’s mild admonitions and calls for calm.
Hong Kong Latest: Soul Searching Among Hong Kong Protesters After Chaos at Airport (New York Times)
Today in Financial News.
Extreme Climate Change Has Arrived: Major Areas of U.S. Near or Exceeding 2-degree Celsius Mark (Washington Post)
The UN Intergovernmental Panel on Climate Change warns that if Earth heats up by an average of 2 degrees Celsius, virtually all the world’s coral reefs will die; retreating ice sheets in Greenland and Antarctica could unleash massive sea level rise; and summertime Arctic sea ice, a shield against further warming, would begin to disappear. The Washington Post analysis found that major areas in the U.S. are nearing or have already crossed the 2-degree Celsius mark.
Fighting Back: Twenty-Two States Sue Trump Administration Over EPA’s New ‘Dirty Power’ Rule (Bloomberg)
Today in City Technology.
Cities Track Citizens’ Sentiment Through Social Media (Hat tip: Mike Allen’s Axios AM)
Twitter and Facebook posts, when combined with other city tip-lines and data collection tools, can be a gold mine of information about what citizens really think. ZenCity, a Tel Aviv-based, Microsoft-backed startup, sells an AI-powered sentiment analysis tool designed to track citizen opinions so cities can gauge how they are performing.
Gen Z Today.
Extreme Makeover: Resumes Are Starting to Look Like Instagram – and Sometimes Even Like Tinder (Wall Street Journal)
Gen Z job applicants are adding photos, illustrations and even bitmojis to the CVs.
Best of late night.
“Kellogg’s is making a new cereal inspired by the song ‘Baby Shark’. Because that’s what you need, right? You want to remind kids about the ‘Baby Shark’ song and then give them five pounds of sugar.”
— Jimmy Fallon
“A woman in New Jersey accidentally drove her Mercedes into a river recently, after mistaking the gas pedal for the brake. Even crazier she still hit traffic!”
“Officials at Hong Kong International Airport suspended flights for the second day in a row after political protesters took over the terminal. And LaGuardia suspended flights after a rat was seen working at Cinnabon.”
— Seth Meyers