Markets.....
Saturday morning Essay , Market Sector & News updates from Doug Noland.
#China's #LegendHoldings strikes $1.8bln deal to buy Luxembourg's BIL bank from Qatari #investors | #Qatar http://www.qatarisbooming.com/article/chinas-legend-strikes-18bln-deal-buy-luxembourgs-bil-bank-qatari-investors …
Barron's: The risk to the bull market is higher now than at any time in the past eight years. Recession is the key factor here.
Investors putting hedges against risk of a stock mkt crash after S&P 500’s lost August. https://www.bloomberg.com/news/articles/2017-09-01/s-p-500-s-lost-august-leaves-investors-wavering-on-eve-of-autumn …
Bond bubble deflates. Value of global bonds lost $421bn past week to $48.9tn on strong global econ data. Fall in US PCE & NFP support bonds.
Value of global stocks crossed $80tn for 1st time in history as Goldilocks scenario prevails. Now worth $80.3tn, equals to 105% of world GDP
Good morning from #Germany which is characterized by mkts as most fin sound country in the world. CDS price lower than Norway or Switzerland
Onshore #Yuan closed at 6.5596 per USD, surged 888bp this week. It climbed 1401bp or 2.08% agst USD in Aug, biggest monthly rise since 2005
Friday's News Links
Europe.....
Germany...
Merkel interview - Der Spiegel...
Monster X-ray laser in Hamburg offers glimpse into nano-world http://dlvr.it/PkHyRy
France....
Labour reform conundrum....
Asylum item touching on Niger and Chad....
Politician is left fighting for his life 'after MP in Macron’s party hits him on the head with a motorbike helmet' http://dailym.ai/2gq7ZES
Macron says having to talk to Erdogan is one reason his job isn’t as "cool" as you’d think https://bloom.bg/2wrJHUf
Five key ways Macron wants to change France's labour code http://dlvr.it/Pk84HC
France warns North Korea could nuke US, Europe 'within months' http://dlvr.it/Pk5C3D
Italy....
Spagna-Italia, stasera la grande sfida http://csera.it/4b9af2c2qA
Migranti, Renzi: il Pd non è diviso. E glissa sulla Sicilia: «Non è nel libro» http://dlvr.it/PkJr5G
Translated from Italian by Bing
Migrants, Renzi: the Democratic Party is not divided. And glosses over Sicily: "it is not in the book» http://dlvr.it/PkJr5G
Mussolini's granddaughter to visit 'fascist forest' burned down by wildfire http://dlvr.it/Pk6py0
Spain....
EDITORIAL: Recent terrorist attacks highlight urgent need for reforms in Spain's all-important tourism sector http://ow.ly/Wsey30eJ5br
Rajoy: "We are going to preserve the unity of Spain, no one should have any doubt about that".
La Vanguardia reports separatist parties and government in Catalonia to attempt to pass new referendum law on Wednesday.
Emergency services tell residents of three towns in Madrid—Humanes, Moraleja and Griñón—to stay indoors after a fire produces a toxic cloud.
Spanish authorities arrest members of global credit card fraud network http://dlvr.it/Pk7cmR
Spain tells North Korean embassy to reduce staff http://dlvr.it/Pk4nSz
Greece.....
Gov’t hails latest economic data as sign of recovery http://dlvr.it/PkK5MR
Tuesday meeting with Moscovici http://dlvr.it/PkJbl2
Greek asylum service releases new relocation statistics http://www.ekathimerini.com/221316
#Greece
UK.....
Items from Tories.... 1
Items from Tories.... 2
Items from Tories... 3
Items from Labour...1
Items from Labour .... 2
Items from Labour... 3
US Politics....
Whoa - look at what South Korea does tariff wise , if trade deal is terminated !
Tillerson and Mattis contradicting Trump leaves allies wondering if Trump speaks for US http://hill.cm/9TeguwP
In area set aside for children to play in the shelter at NRG Stadium. Also accompanied by @GovAbbott.
President Trump and First Lady Melania have arrived in Houston to survey Harvey damage, meet with victims.
Arkema reps to Crosby residents: if all six remaining containers blow today, locals can get back to their homes by Friday. #KHOU11
Trump amended Texas disaster declaration: increased fed'l cost sharing to 90% for DEBRIS removal; 100% for EMERGENCY PROTECTIVE measures.
So sad to see this much loss of life #Khou11 #HurricaneHarvey
Trump aide who delivered Comey termination letter plans to leave White House: report http://hill.cm/5I4TRTB
Outside the church, Pres and Mrs Trump help distribute cases of water and other supplies to storm victims.
Trevor Noah: "Antifa" are just the "vegan ISIS" http://hill.cm/AcgBLLn
Firefighters battling raging fire in west side of town in waist high flood water. #SkyEye is live now! @abc13houston
“It was talked and talked about,” said one White House aide of Trump's decision to fire Comey http://politi.co/2ewIG7l
Fire spotted at second Russian diplomatic building Trump ordered closed http://hill.cm/X7pjzLg
Mysterious smoke seen rising from chimney of Russia consulate that Trump ordered closed http://hill.cm/fuNmMMs
Trump heads into September after brutal month of low approval ratings and controversy http://hill.cm/y3lVekK
A week after Hurricane Harvey slammed into the Texas coast, many are bracing for yet more rising water levels http://cnn.it/2wvPaI1
Trump Defense Department sent nearly 5,000 fewer troops for Harvey recovery than claimed http://hill.cm/Ksyndxw
Public sector unions are beginning to panic https://hotair.com/archives/2017/09/02/public-sector-unions-beginning-panic/ …
South Korea has already shot down this desire of POTUS...so under present circumstances, don't see this happening.
Back to Richwood in Brazoria County and this neighborhood is even worse than yesterday. Trashed by #Harvey's aftermath. @abc13houston
Pres & Mrs Trump at storm shelter in Houston meeting with evacuees.
So sad to see this much loss of life #Khou11 #HurricaneHarvey
John Kelly grates on Trump — and the feeling is mutual https://hotair.com/headlines/archives/2017/09/john-kelly-grates-trump-feeling-mutual/ …
In just a few hours, @POTUS @realDonaldTrump and @FLOTUS will land in Houston to tour Harvey damage: http://abc13.co/2xF8jaF #ABC13 #HouNews
LIVE AT 6: Rising water prompts new mandatory evacuations in Lake Jackson. @corinhoggard reports: http://abc13.co/2vzVqBl #ABC13 #HouNews
Informative and sober read on the latest #IAEA report and all the noise and buzz US Ambassador to the #UN @Nikkyhaley creates.
Nightmare continues for residents near Addicks Reservoir
http://on.khou.com/2vzF3oc
Townhomes reduced to rubble in Forest Cove after water released from Lake Conroe http://on.khou.com/2wrKTH1 @MattKHOU
U.S. diplomats who faced mysterious "sonic harassment" in Cuba suffer mild traumatic brain injury, hearing loss http://abcn.ws/2ewr8Ip
Ryan tweet: "The House will act quickly on @POTUS request for emergency relief funding." #HarveyRelief
McConnell: The Senate stands ready to act quickly to provide this much-needed assistance to those impacted communities #HarveyRelief
Senate Apps Chair Cochran: Our committee is prepared to do its part to make resources available to those affected by Hurricane Harvey
Colleague Serafin Gomez confirms Trump sent letter to Congress asking for an initial $7.9 billion for Harvey recovery
McCarthy office says "Legislation Related to Disaster Supplemental Appropriations" expected next week. Will be suspension bill needing 2/3
Odds & Ends....
BRICS Summit
From 3rd to 5th September, I will be in Xiamen, China for the BRICS Summit. Here are more details. https://www.facebook.com/narendramodi/photos/a.10150164299700165.421791.177526890164/10159346011485165/?type=3&theater …
At the BRICS Summit, looking forward to building upon the results & outcomes of the Goa Summit last year.
Aerial panoramic view of China's coastal city #Xiamen, where the 9th #BRICS summit will be held from Sept 3 to 5 http://bit.ly/2wZZhI9
Iraq....
7 people were killed , 13 wounded in Iraq's northern city of Samarra after terrorists attacked a state-run power station early on Saturday.
Hawija, key to oilfields, is next anti-ISIS target in Iraq http://dlvr.it/PkKgcJ
Syria....
@fredwalton216 FYI
Syrian Army liberated Mount Neerman & mount Nudayrat in Deir Ezzor and is now 17km from Ash Sholah
Syrian Army after advancing from Mount Birshi towards Ash Sholah is now only 30km away from the nearest SAA units in besieged Deir Ezzor.
#SAA entered #DeirEzzor province from north, Allies entered from south
Interactive Map:https://www.google.com/maps/d/u/0/viewer?mid=1M-_ymjR9xwOK7KMikOcUFSAE1ac&hl=en&ll=35.10437345097433%2C39.589911325&z=10 …
Clashes continue ..
'Islamic State' convoy stranded with families in Syria desert http://trib.al/7OggAws
Syrian Arab Army recaptured Uqayribat from Islamic State
Map: http://syriancivilwarmap.com
SAA withdrew from Jruh. Uqayribat still under ISIS control. East Salamiyah #Hama
#Hama | #IS committed suicide bomb attacks (including women and children) in Uqayribat at night. Clashes continue in the town
@ISIS_Hunters
#DeirEzzor | #SAA and allies continue to advance towards Deir ez-Zor and reached Kabbajab (40 km from Deir ez-Zor)
Libya....
#Libya: The 3 pro-East members of the PC:
BRSC spokesman Mohamed Bakr arrested in Misrata - https://www.libyaherald.com/2017/09/02/brsc-spokesman-mohamed-bakr-arrested-in-misrata/ …
LNA in fresh clashes east of Sirte - https://www.libyaherald.com/2017/09/02/lna-in-fresh-clashes-east-of-sirte/ …
New acting CoS named by Serraj is Abdulrahman al-Taweel. He was in charge of the LPA's Security Arranagement Committee in #Tripoli. #Libya
Reuters: #Libya oil production drops by 350,000 barrels due to close of several fields #OOTT
http://alwasat.ly/ar/news/libya/151555/ …
Hafter orders security forces in east to ignore new PC deputy interior minister - https://www.libyaherald.com/2017/09/01/hafter-orders-security-forces-in-east-to-ignore-new-pc-deputy-interior-minister/ …
North Korea....
thread
Bottom line: DPRK should be able to conduct a (probably successful) test of staged thermonuclear design.
And they probably will next week.
Sidenote:
If we assume plugins include for external neutron initiator, fission primary being > diameter than 2dry is worryingly accurate?
Compare DORK-2 thermonuclear warhead shape (Mr. Peanut) to US W80 thermonuclear warhead.
Notice 2 different diameter chunks on both. 
North Korea has developed a hydrogen bomb which can be mounted on a new intercontinental ballistic missile-as per Pyongyang's state media.
For those who are far more knowledgable on nuclear weapon technology - does the photo shed any light ? Thx....
DPRK new device as mounted in nose section.
The targeted amount accounts for about half to two-thirds of the North's annual imports of crude oil and petroleum products.
Why sanctioning North Korea’s elites won’t bring down Kim Jong Un https://buff.ly/2eK3Co9
Irma.....
Key takeaways-Irma moving S of Due West across Cen Trop Atlantic @15 mph , max sustained winds-110 MPH , 973 MB , small storm but will grow.
East Coast watches as Hurricane Irma brews in the Atlantic http://hill.cm/Em5Gbmd
GEFS take on Irma- could see SE Landfall with Florida and surrounding states in the focus of storm.
Large uncertainty with the track of #Irma though our Calibrated ECMWF EPS up to a 50% chance for an East coast impact as a Major Hurricane.
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