Landmark Links July 7th – Playing Chicken

hqdefaultLead Story: Greek voters thumbed their noses at creditors this past weekend by soundly rejecting bailout terms that would have privatized gains and socialized losses.  Your move, IMF and ECB.

Economics

Look at the bright side: Equity and bond markets are going haywire as expected after the Greek vote.  That’s the bad news.  The good news? After spiking the past few months, mortgage rates could be headed lower again.

Wage Gauge: Wages are not nearly as stagnant across-the-board as many would have you believe.

Follow the Trend:  The June jobs report was meh at best but don’t let that distract you from the longer-term positive trend.  A big part of that trend is that construction employment has been quite robust.

Residential

Strong Enough to Weather a Storm? The housing market has been growing stronger but is it healthy enough if mortgage rates ignore the crisis in Europe and continue to rise?

Retirement Migration: Where previous generations donned housecoats and moved to a condo in Florida, some boomer grandparents are moving to be closer to their grandchildren for retirement.

Drought

Bad Math: The Colorado River Compact which was signed 93 years ago has been a disaster which has helped contribute to current water shortages in western states.

Book Club 

Two summer beach reading recommendations for you:

1) Once Upon A Time in Russia (Ben Mezrich) – The latest from the author of The Accidental Billionaires and Bringing Down the House.  It’s the story of the rise of the Oligarchs and Putin in Russia.  I started reading this past weekend and haven’t been able to put it down.  Mezrich is a great story teller and this is a fascinating story.

2) Straight to Hell – True Tales of Deviance, Debauchery and Billion Dollar Deals (John Lefevre) – The long-awaited book debut from the author of the hilarious @GSElevator Twitter feed is finally here and will be available July 14th.  Based on this review, it sounds like a cross between The Wolf of Wall Street and Liars Poker.

Chart of the Day

The Historical Cost of Lighting

Source: Bloomberg

WTF

Twitter Feed of the Day: The @craptaxidermy twitter feed will be the best thing that you see today.

Hey Guys Check this Out….. Two 4th of July idiots using fireworks stories: First off, star defensive end Jason Pierre-Paul of the NY Giants nearly blew off one of his fingers on Saturday, leading to the team to rescind a $60MM contract offer.  Not to be outdone, a Darwin Awards contestant in Maine (aka the Alabama of New England) died when he tried to light a firework off of the top of his head.  His mom blamed “lack of regulations” for her son’s death.  Of course.

Another Darwin Award Nominee: Picture this…  A man in Texas is hanging out by a lake and notices a sign that warns people against swimming because the lake is full of alligators. The man ignores the sign, takes off his shirt and yells “F$%k the alligators!” as he jumps in the lake.  He is killed almost instantly, becoming the first person to die from an alligator attack in Texas since 1836.

Landmark Links – A candid look at the economy, real estate, and other things sometimes related.

Visit us at Landmarkcapitaladvisors.com

Landmark Links July 7th – Playing Chicken

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