The U.S. trade deficit expanded at its fastest pace in more than ten years in July, accelerated by rising oil prices and increased demand for auto parts and industrial supplies.

Every country needs a few basic ingredients in order to achieve healthy, sustained economic growth.

U.S. banks are going bad as quickly as a bunch of over-ripe peaches in the summer heat. On the heels of the Colonial Bank failure comes another sizable bank failure.

Actually, we haven’t gotten to Bedford Springs yet. We’re still sitting in the airport lounge in Paris. Summer is over. It’s back to work…12 hours a day…just like we’ve worked for the past 39 years.

With large purchases of iron ore, copper and oil, China has been taking full advantage of depressed commodities prices and excess production capacity. Now, the Red Dragon is making its presence felt in the natural gas market – landing two blockbuster deals in the past two weeks.

Beijing continued a delicate balancing act yesterday (Wednesday), vowing to keep stoking its economy with funding from its $787 billion stimulus program even as it implements new controls on bank lending.

There is probably no group of buyers more watched and coveted than Chinese consumers. Over the weekend, the Financial Times had a piece that highlights things the Chinese like to buy.

Currencies rally in early morning Tuesday. But see profit taking later in the day… Looking for yield? China expected to get back to 10% growth! And Now… Today’s Pfennig!

Now the summer days are dwindling down to a precious few. This morning, it is overcast and chilly here in central France. The leaves on the aspen and linden trees have turned yellow already; whenever the wind blows, they flutter to the ground as if they were trying to get away from something.

Pity the poor rich! Pity the poor! Pity us all!