China Is Weaponizing Water

Hidden in plain sight is an intimidating Chinese weapon that allows it to hold a quarter of the world’s population hostage without firing a single shot. While much attention has been given to the nation’s fearsome new military hardware, a formidable component in its arsenal has largely escaped notice: dams.

Matt Taibbi: Media Is The Real Villain (For Creating A World Dumb Enough For Trump)

"We've created a generation of anger addicts who can't read past the first page of a book. This is why the howls of outrage from within the ranks of the news media about Trump's election ring a little bit false. What the hell did we expect would happen? Who did we think would rise to prominence in our rage-filled, hyper-stimulated media environment? Sensitive geniuses?"

It's Can-Kicking Time Again In The Imperial City

"So we’ve officially entered the kick-the-can season. You can count on Paul Ryan to spin and misdirect in order to obfuscate what’s actually going on. The House Speaker is about to capitulate again to the nation’s fiscal doomsday machine. Expect clever maneuvers designed to hide the truth through yet another election cycle."

Live Coverage: One Dead, Over 264,000 Without Power As Harvey Drenches Texas, Brings "Widespread Devastation"

Harvey made landfall just before midnight on Friday between Port Aransas and Port O'Connor as a monstrous Category 4 storm - the first of that level to strike the U.S. since Charley in 2004, and the strongest storm in more than 50 years to hit Texas.  By daybreak it had been downgraded to a Category 1 storm from a Category 4, according to the National Weather Service.

Ford To Abandon "Traditional Credit Scores" For Underwriting Decisions As Sales Stall

So, what do you do when your sales are stalling because you've already financed new cars for every man, woman and child with a credit score north of 500?  Well, you simply abandon credit scores in the underwriting process and instead explicitly mandate that your loan officers approve every potential car buyer that walks through the door with a pulse. 

Goldman "Unexpectedly" Exempt From Venezuela Bond Trading Ban

"That was somewhat surprising," said Francisco Rodriguez, chief economist at Torino Capital. "I guess the logic is that those bonds are already in the hands of bondholders, so you wouldn’t be really blocking new financing." That, or the "logic" was to exempt Goldman from the trading ban until the bank can sell them without incuring a major loss...

A Brief History Of Tail Risk: From LTCM, ABX, CDS, To VIX

"While I think valuations may be stretched, my bigger concern is that the real risk lies in market structure – more specifically to volatility and correlation strategies that quickly propagate through the financial markets with the aid of algorithmic trading..."