Mish's Global Economic Trend Analysis: Emails From French and Canadian Readers on "Preserving Culture" and the "Language Police": " . . . it's not just France that suffers from such stupidity, it is all of Europe. Every year France blocks changes in agricultural subsidies that exist solely to prop up inefficient French farms. As a result everyone in Europe pays higher prices for produce and other farm goods. Tariffs raise costs and restrain trade. Problems do not stop with agriculture and restaurants. Inane work rules also designed to "preserve the French way of life" have put France and Germany are on a collision course over numerous issues including heated exchanges regarding productivity and trade with China."
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Wildfires Prompt Evacuations in Texas and Oklahoma - As high winds and dry air fueled the blazes in the Texas Panhandle, Gov. Greg Abbott issued a disaster declaration for 60 counties.