North Macedonia / Reuters

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The tax cuts both offer are aimed at providing big increases in the post-tax incomes of the wealthiest in our societies, and for large companies in the case of Liz Truss.

The Tory leadership campaign grinds on. The offers from both candidates continue to make no sense. The coming crisis of government in the face of a looming economic meltdown is obvious, except to Truss and Sunak. What to think? A thread….

$SPX components above their daily 50MAs back to 86% from extreme oversold 2% reading in June. This in context of $SPX being still below the weekly 50MA. All previous breakdowns below the weekly 50MA since 2008 took central bank interventions to recover back above it.

JUST IN: Spain inflation reaches 10.8%, the highest it’s seen in 38 years.

Kenyan parastatals are now using loan money borrowed for projects to pay salaries and utilities rather than investing in revenue generating activities. — Daily Nation

Russia flipping from communist to fascist allowed them to get the global extreme right on their side while somehow still retaining the allegiance of the global extreme left.

JUST IN: Indian authorities freeze #crypto  exchange Vauld assets worth $46.5 million.

The result is business may now be unable to fund the finding of solutions to any problems we have, however much Tory politicians believe otherwise.

Have fab Friday and a blessed weekend. Back on Sunday for the livestream.