Skimm'd after drinks with an old friend.
QUOTE OF THE DAY
"A little feisty" -- President Obama describing his post-vacay mood. Congress must be thrilled.
YOU'RE HOT AND YOU'RE COLD
China's markets have been having a really, really bad week. So yesterday, China's central bank stepped in.
CATCH ME UP.
China's stock market has been under the weather for months. The country has tried, and tried, and so far failed to stop it from getting worse. Yesterday, China's central bank stepped in and made it easier to borrow and lend money. For a hot second, that made US markets happy. Until it didn't. Today, Chinese markets are down again, continuing their really, really bad week.
WHAT'S REALLY GOING ON HERE?
China's trying to pull a rabbit out of its hat in the hopes of stabilizing the market. And that's making global investors think that the situation must be pretty bad for the country's central bank to be taking these measures. Reminder: no one really knows for sure what's going on because China's about as transparent as a brick wall. Meanwhile in the US, the Fed has been wanting to take off the training wheels and get rid of the last of its post-financial crisis measures. The Fed's been saying for a while that the US economy's ready for an interest rate increase. But this week's ups and downs mean that plan could be put on hold.
China's government doesn't like surprises. And its market's recent downturn has been surprising.
REPEAT AFTER ME...
WHAT TO SAY TO YOUR FRIEND WHO'S HONEYMOONING IN HAWAII…
Sorry. Yesterday, tourists visiting Hawaii's Waikiki Beaches -- the ones with the really white sand -- were told to stay out of the water. Earlier this week, 500,000 gallons of sewage spilled into the ocean when a tropical storm flooded the drain system. Unclear how long vacationers will have to stay on dry land. A local official said they don't know what's in the water, but that a person could "get a serious infection, get extremely sick or even worse" by going swimming. Because nothing says 'paradise' like 'contaminated water samples.'
WHAT TO SAY WHEN YOU PUT YOUR FOOT IN YOUR MOUTH…
Hi, Curt Schilling. Yesterday, ESPN put the on-air analyst and former star pitcher in a time out. That's because he posted a tweet that read, "Only 5-10% of Muslims are extremists. In 1940, only 7% of Germans were Nazis. How'd that go?" Not well. Schilling deleted the post minutes later. ESPN took him off air "pending further consideration." Yesterday, Schilling apologized, saying that the post "didn't come across in any way as intended or interpreted." Good time to stop talking.
WHAT TO SAY TO YOUR CLUMSY FRIEND…
This is your worst nightmare. Earlier this week, a 12-year-old Taiwanese boy on a museum tour tripped and punched a fist-sized hole into a painting. Oops. The painting is 350-years-old and worth about $1.5 million. Oops again. Luckily, it's insured so the boy's family won't have to foot the bill to restore it. And that's the last time he ever went to a museum.
WHAT TO SAY TO YOUR FRIEND WHO'S ALWAYS THROWING THEME PARTIES…
THING TO KNOW
JSYK: Stands for 'just so you know.' Because FYI is getting boring.
Money doesn't grow on trees. Except in this case. We have $25,000 to help you pay off your mortgage. Or just 'cause. Enter here.
You're halfway through the week. Start the second half right. Share theSkimm. Do it here.
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