What Alan Greenspan Is Most Worried About

"... it's very difficult to see where the next step is except what I'm concerned about mostly, is stag-flation, meaning I think we're seeing the very early signs of inflation beginning finally to pick up as the issue of deflation fades.... we're in a situation now where looking at the interest rate levels that we're looking at and the inflation rates we're looking at, it's very clear that we're going to be moving reasonably shortly into a wholly different phase."

No One Can Stop Her... And She Knows It: "This Election Won't Be Fair"

There is something very, very wrong going on and it is time that everyone – regardless of ideology, party affiliation or politics – needs to face up to. Preliminary evidence indicates strongly that there has been a very carefully orchestrated coup taking place… and if successful, it will have only one logical conclusion: Total power, at any price, with a facade of support and momentum that just isn’t there from anyone other than a handful of elite billionaires, and a cadre of clients with addresses that are either foreign or based on Wall Street.

From Socialist Utopia To Slave-Nation - Venezuela Unveils Shocking "Forced Labor" Law

While we here in the United States debate pressing issues, like the urgent need for gender-neutral bathrooms, the people of Venezuela remain entrenched in a food crisis that continues to sow widespread unrest which has become increasingly violent in recent months.  So what do you do if you’re the President of a Socialist government with mounting civil unrest and growing political opposition seeking your ouster via a recall referendum?  Well you enslave your entire nation, of course.  

Wishful Optimism: The Triumph Of Lies Over Truth

"To be blessed with a hopeful, optimistic outlook is surely a fine piece of luck. But such an outlook is not a good substitute for a broad, well-informed appreciation of what is at stake in the struggle between the state and those who prefer a less fraudulent and destructive and more peaceful and cooperative arrangement for the production of law and order."

Gundlach: "Sell Everything, Nothing Here Looks Good"

"Investors have entered a “world of uber complacency. The artist Christopher Wool has a word painting, 'Sell the house, sell the car, sell the kids.' That’s exactly how I feel – sell everything. Nothing here looks good,” Gundlach told Reuters in a telephone interview."

17,359 Americans Have Renounced Citizenship Under Barack Obama

Another 508 people renounced their US citizenship last quarter according to documents published this morning by the Internal Revenue Service. This brings the total number of US ‘renunciants’ under the Obama administration to 17,359.

Weekend Reading: DNC – Discerning & Notional Conjugations

This week, the headlines have been dominated by the Democratic National Convention pushing Janet Yellen’s latest FOMC non-action to 'page 6'. "Global instability is now the perma-excuse for the Fed.” The only question will be where that instability pops up next?

Monte Paschi Fails European "Stress Test" Meant To Restore Confidence In Europe's Struggling Banks

Moments ago, the European Banking Authority published the 2016 bank stress test results, whose purpose - as every other year -  is to inspire confidence in Europe's struggling banks; it differs from a market-based assessment of bank stress - that particular "test" can be seen by observing the stock prices of such giant banks as Deutsche Bank and Credit Suisse, both of which recently hit all time lows. As previewed yesterday, Italy's 3rd largest, and most insolvent bank, Banca Monte di Siena was the worst performer in European regulators’ stress tests, and the only lender to have its capital wiped out in the exam. 

The FOMC Butterfly That Will Ruin The World

Imagine the financial crisis knocked you out and you did not wake up from the coma that followed until this day. Then, presented with the following three charts you were asked to guess where the federal funds rate was trading...

European Bank Stress Test Preview: What To Expect And How To Trade It

While the main event in today's European bank stress test was leaked moments ago, when Monte Paschi board member Turicchi said that the bank has finalized a bank consortium for a critical capital hike, suggesting that contrary to last minute jitters the bank has found the needed number of willing banks to provide €5 billion in fresh capital it needs resulting in the bank's 3rd bailout in the past 2 years - this one courtesy of the private sector - there may still be some surprises.

Hedge Funds Badly Lag The S&P500: July's Top 20 Winners And Losers

July may have been a good month for the S&P 500, which is up over 3.5%, generating more than half of the S&P's entire YTD 2016 return (6.4%) in just one month, but it was another painful month for the active investing "smart money" - of the roughly 40 (rotating) marquee names in our hedge fund tracking universe, only one is beating the broader market this month.

The Real Motive Behind Al-Nusra "Split" From Al Qaeda

The purpose behind this rebranding of al-Nusra Front seems to be to legitimize itself and make it easier for its patrons to send money and arms. The US blacklisted al-Nusra Front in December 2012 and pressurized Saudi Arabia and Turkey to ban it too. Though, al-Nusra Front’s name has been in the list of proscribed organizations of Saudi Arabia and Turkey since 2014, but it kept receiving money and arms from Saudi Arabia.

US Oil Rig Count Rises At Fastest Rate Since Jan 2010

With inventories once again on the rise, demand set to seasonally tumble, and production on the rise, the lagged response to the bounce in crude prices continues in the US oil rig count, rising 3 last week to 374. This is the 8th rig count rise in the last 9 weeks. The 58 rig rise (+18% off the lows) is the fastest since Jan 2010. Oil prices had melted up all day (despite record OPEC production) as the USD weakened, and extended gains despite the rig count rise.