| By Derek Caney (@stax920)
DNC Day 4: What we learned In accepting the presidential nomination, Hillary Clinton cast the election less as a battle between Democrats and Republicans, and more as a battle of America versus one man. It was a reach not only for left wing Bernie Sanders voters but for moderate Republicans who might otherwise be alienated by Donald Trump. If Trump's theme is fear of The Other – Mexicans, Muslims, etc. – Clinton's speech was about the fear of Donald Trump. "Don't believe anyone who says: 'I alone can fix it…Americans don't say: 'I alone can fix it.' We say: 'We'll fix it together.'" 
REUTERS/Mike Segar She reached out to the Bernie of Busters far more than expected. There were pockets of dissent in the arena, but they were usually downed out – strategically – by "Hillary" chants. "Your cause is our cause. Our country needs your ideas, energy, and passion. That's the only way we can turn our progressive platform into real change for America. We wrote it together – now let's go out there and make it happen together." As expected, her speech never reached the rhetorical heights of even Vice President Biden, to say nothing of President Obama (she cleared the low bar set by vice presidential nominee Tim Kaine). She connected the most when she went into attack mode but with the inflections of a stern grandmother – i.e. "He spoke for 70 odd minutes – and I do mean odd," accompanied by a classic Clinton eye-roll. "A man you can bait with a tweet is not a man we can trust with nuclear weapons." Fact checks
"More than 90 percent of the (economic) gains have gone to the top 1 percent." This data is outdated, according to UC-Berkeley economist Emmanuel Saez, who writes that the more recent number is 52 percent. h/t Politico
"Nearly 15 million new private sector jobs." The economy added 14.8 million private-sector jobs since February 2010, the lowest level following the economic collapse of 2007-08. But it's somewhat of a cherry-picked number. Since the beginning of Obama's term, the economy added closer to 10 million jobs. h/t Washington Post As for Trump, he was relatively restrained – for Trump. Reuters has plenty more political coverage:
Around the country - The FBI is investigating a cyber attack against the Democratic Congressional Campaign Committee, an attack that may be related to an earlier hack against the Democratic National Committee. The hacks are likely to heighten to heighten accusations, so far unproven, that Moscow is trying to meddle in the U.S. presidential election campaign to help Republican nominee Donald Trump.
- The United States military is preparing for the biggest land return in Okinawa since 1972, as it faces a surge in opposition to its presence following the arrest of one its civilian contractors for the murder of a local woman. Okinawa is the U.S. military's key base in Asia where it faces an increasingly assertive China.
- Two San Diego police officers were shot and a suspect was in custody, police said. The condition of the officers was unknown. Residents were told to stay in place. Stay tuned for more updates.
Around the world - Al Qaeda's powerful Syrian branch, the Nusra Front, is ending its relationship with the global jihadist network founded by Osama bin Laden. The move was being made "to remove the excuse used by the international community – spearheaded by America and Russia – to bombard and displace Muslims in the Levant: that they are targeting the Nusra Front which is associated with al Qaeda," said leader Mohammed al-Golani.
- Turkey has begun overhauling its armed forces following a failed coup, but the United States complained that the purges of generals and officers were hindering cooperation in the fight against Islamic State. The military promoted 99 colonels to the rank of general or admiral, part of a shake-up that left General Staff chief Hulusi Akar and the army, navy and air force commanders in their posts. The announcement came shortly after the dishonorable discharge of nearly 1,700 military personnel over their alleged roles in the abortive July 15-16 putsch.
- The Pope offered a silent prayer during his visit to Auschwitz, the site where 1.5 million people, most of them Jews, were gassed by Nazis during World War Two. In Auschwitz's commemorative book, Francis wrote in Spanish: "Lord, have mercy on your people. Lord, forgiveness for so much cruelty."
Around Wall Street Digits of the day: 2.6 percent U.S. second quarter gross domestic product numbers are due at 8:30 EDT. The average Reuters forecast is 2.6 percent increase, compared with 1.1 percent in the first quarter. Robust consumer spending offset a sharp moderation in inventory investment and weak exports, pointing to underlying growth momentum that could be maintained for the rest of the year. - Alphabet (née Google) and Amazon both posted better-than-expected earnings. The former benefitted from its advertising push toward mobile devices, the latter from its cloud-based Prime service.
- The Federal Reserve Bank of New York has asked the Philippines' central bank to help Bangladesh Bank recover the $81 million that was stolen by hackers in February from its account held at the Fed.
Today's reason to live Tennis – Mean Streets |
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