Obamacare Is The Welfare State's Requiem

No more. The Obamacare meltdown has destroyed the conceit that government can improve society through expansion and mandate. It turns out that large stacks of paper don’t automatically bring justice, equality, efficiency, and universal provision. Obamacare could be the last large-scale welfare program ever passed by Washington, D.C.

Goldman "Explains" Why Yellen Lost Credibility: "In Our View, The Fed Has Been Unlucky"

"The May 18 minutes surprised virtually everyone by guiding strongly toward a rate hike in June or July, and Chair Yellen reinforced this message in her remarks at Harvard University on May 27. But the weak May employment report released on June 3 and increased concern about the UK referendum again triggered a sharp pivot, putting on hold the notion of further hikes. These dramatic shifts have frustrated many market participants. In our view, the Fed has been unlucky."

Jeffrey Snider: All Signs Point To Systemic Reset

"... what’s happened in stocks is more a myth than actual reality. Investors in stocks are buying at ridiculous valuations based on the premise that the Fed can create a recovery through liquidity. And what 2014 and 2015 show us is that this simply wasn’t true! ...the longer the earnings recession lingers, the higher the risk that stock investors will realize that they’ve been following the wrong story all along!"

The Answer To Whether The Oil Market Has Rebalanced

The oil market is not rebalancing as some have suggested, in fact it appears to be still oversupplied by a large measure when taking into account the year over year additions to Total Stocks. Plus when adding in the effects of floating storage, the additions to alternative products for refined product there seems a desperate effort by the oil industry to move the commodity around from Cushing to the Gulf Coast.

Yemen Offers Russia Use Of Its Airports And Ports In "Fight Against Terrorism"

A newly-formed governing council in Yemen could work with Russia to "fight terrorism" by allowing Moscow use of the war-torn country's military bases, Yemen's former president said on Sunday.  "In the fight against terrorism we reach out and offer all facilities. Our airports, our ports... We are ready to provide this to the Russian Federation," Saleh said in an interview.

Morgan Stanley: "This Is The Most Dangerous Time As Hope And Greed Overtake Fear And Loathing"

"It is often said that a rising tide lifts all boats, but perhaps the more pertinent question just now is whether this logic works in reverse... Although equity valuations continue to look extremely attractive relative to bonds, there is always a plausible argument that the equity rally will continue; however, this is potentially the most dangerous time for investors as hope and greed overtake fear and loathing."

Oil Rally At Risk After Niger Delta Advisors Announce Ceasefire

Nigeria's militant Niger Delta Avengers announced overnight on their website, that the would cease “hostilities in the Niger Delta against all interest of the multinational oil corporations,” to support talks with govt to end conflicts adding that it promises "to fight more for the Niger Delta, if this opportunity fails."

"The Most Difficult, Treacherous Year" - What The Market Wall Of Worry Looked Like In 2016

2016 has been according to one buysider, "the most difficult, treacherous year" for the hedge fund community in recent history as a result of unprecedented shifts in market sentiment, choppy trading, low conviction, investor redemptions, illiquidity and  volatility month after month, which has left the hedge fund community exhausted and reeling even as the S&P hits all time highs.

Child Suicide Bomber Behind "Heinous" Attack At Turkish Wedding That Killed At Least 51

As the death toll from a deadly suicide bombing - which took place late on Saturday at a wedding party in the southern Turkish town of Gaziantep, near the southern border with Syria - rose to 51, with another 69 wounded of whom 17 were critical, Turkey's president Erdogan issued a statement denouncing the "heinous" bombing and saying that IS was "the most likely perpetrator of the Gaziantep attack." This was the deadliest attack in Turkey so far this year.

For Sale: The World's First $1+ Billion Dollar House

While the French economy is struggling under the weight of both a collapse in tourism as a result of a recent surge in terrorist attacks, and the destructive influence of a socialist government, Nice Matin on Friday reported that the former home of Belgium King Leopold II can be yours (assuming you are a multi-billionare, of course) for "one billion euros."

America's "Humanitarian War" Against the World

The media, intellectuals and the politicians, in chorus, obfuscate the unspoken truth, namely that the US-NATO led war destroys humanity. When the lie becomes the truth there is no turning backwards. When war is upheld as a humanitarian endeavor, Justice and the entire international legal system are turned upside down: pacifism and the antiwar movement are criminalized. Opposing the war becomes a criminal act. Meanwhile, the war criminals in high office have ordered a witch hunt against those who challenge their authority. The Big Lie must be exposed for what it is and what it does.