It is the 20th of August 2017

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Guess How Many Americans Think We Declared Independence From Mexico In 1776

As American's rush out to buy $7 billion dollars worth of Coors Light, hamburgers and hot dogs to celebrate the Fourth of July, it seems that roughly one-quarter of them should probably do a quick google search to figure out what exactly they're celebrating.  According to a new Marist Poll released yesterday, nearly 25% of Americans can't identify which country the U.S. declared its independence from in 1776.  Moreover, a shocking number of those surveyed attributed the holiday to a split with Mexico.  Per the Marist Poll:

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In "Unprecedented Step" US Sanctions Chinese Entities With Ties To North Korea

After allegedly pressuring the Chinese government to act first and adopt sanctions against nearly 10 local entities who the US claims provided North Korea with materials used in its nuclear program, the US has decided to act.  In an unprecedented step, the Treasury Department slapped financial sanctions on two Chinese nationals and a Chinese shipping company over their ties to North Korea stemming from its nuclear program, according to Reuters.

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In "Unprecedented Step" US Sanctions Chinese Entities With Ties To North Korea

After allegedly pressuring the Chinese government to act first and adopt sanctions against nearly 10 local entities who the US claims provided North Korea with materials used in its nuclear program, the US has decided to act.  In an unprecedented step, the Treasury Department slapped financial sanctions on two Chinese nationals and a Chinese shipping company over their ties to North Korea stemming from its nuclear program, according to Reuters.

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When Will The Fed Tighten Enough To Cause The Next Recession?

In addition to the wildly popular topic of the market's record low volatility, coupled with speculation what could break the current spell of "endemic complacency" and what its impact would be on asset prices (yesterday we posted a fascinating take by DB's Aleksandar Kocic on the issue of the markets current "metastability"), another question that has fascinated the economic community is when will the next recession hit.

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US Navy Destroyer Collides With Merchant Vessel Off Japan

The USS Fitzgerald, a guided missile destroyer, collided with a merchant vessel southwest of Yokosuka, Japan, the U.S. Navy said in a statement on Friday afternoon. The crash happened at approximately 2:30 a.m. local time on June 17, and the Navy requested Japan's Coast Guard's assistance.

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