Economics and Investing:

China Rattles Markets With Yuan Devaluation – G.P.

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Trends in low wage America: 1.4 million waiter/bartender jobs gained while 1.4 million manufacturing jobs lost since 2007. Top 4 employment sectors pay $10 an hour or less.

John Kerry Warns “Dollar Will Cease To Be Reserve Currency Of The World” If Iran Deal Rejected – P.W.

“Scaremongery… or maybe the whole point, as Obama’s former chief economist noted, is to lose reserve status. Take that China!!

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Items from Mr. Econocobas:

The Long-Range Social Security/Medicare Deficit: $72 Trillion And Counting

The Fed Is Out Of Options, “QE Is All It Can Do Here” Art Cashin Predicts