1) The plummet of the Turkish lira has push down the currencies of Argentina, India, Indonesia, Mexico, Russia, South Africa, and Zambia while raising Italy’s borrowing costs to their highest level. Conditions for a crisis are ripe, so the financial weakness and poor policies in Turkey and other vulnerable nations make for dry tinder.

2) Today marks 3,453 days of a bull market setting a new record for American’s stock market. The U.S. blue-chip index has more than quadrupled, creeping within striking distance of its January all-time record and outpacing most rival major global indexes. Greatest advances have been concentrated in the U.S. technology companies.

3) Today, Venezuela tried to address it’s multitude of economic problems by dropping five zeros from it’s currency leaving citizens confused and perplexed in trying to do business. So far, about 2.3 million have fled Venezuela, which is one of the most wealthiest nations in South America. Venezuela’s economic problems are blamed on currency control, price controls and nationalization of industries.

4) 22 AUG 18   Stock  market  closings:

Dow                         25,733.60      down     88.69
Nasdaq                      7,889.10            up     29.92
S&P 500                     2,861.82       down       1.14

10 Year Yield:     down   at   2.82%

Oil:           up   at   $68.02

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