Before the ink on the "anti-Trump alliance deal" even dry, Kasich suggested during a campaign stop in Philadelphia that his voters should still vote for him in Indiana, which was one of the places the so-called plan was calling for him to fall back on so Cruz had a chance to win. At a campaign stop in Philadelphia, Kasich said "I've never told them not to vote for me. They ought to vote for me." which no matter how one looks at it is thoroughly confusing considering this is precisely what the so-called alliance urged against.
The saga of the so-called Charlotte bathroom ordinance - and the state of North Carolina’s response to it - has taken on a life of its own. At the national level leftists are accusing North Carolina of bigotry while, in the name of tolerance, a growing list of performers and businesses are boycotting the state. Unfortunately, what has gotten lost in all the rhetoric surrounding this issue is the truth about both the original Charlotte law and the state’s response to it. If property rights and economic freedom are the values that are upheld, then religious freedom will take care of itself.
Faced with a cash crunch and significant military losses, ISIS has reached the point where the rank and file are becoming frustrated. In order to stop the defections, ISIS dug deep in its bag of incentives and decided to employ the carrot and stick method. First we learned of the stick, which is to literally freeze members to death if they're caught trying to defect. Now, we learn what the carrot is. A wage voucher obtained by the post details out the fact that ISIS is now paying soldiers extra cash for each additional family member, and as a sick and twisted added bonus, anyone who has a sex slave gets another $50... USD of course.
"The Men Behind The Curtain Are Being Revealed" – CEO Says Real-World Pricing To Return To Gold & Silver MarketsSubmitted by Tyler Durden on 04/25/2016 - 22:33
"They are being revealed, most certainly... whether anybody actually takes a fall for it is a whole other discussion... It’s good someone is being held accountable in some form or fashion and at least we understand what we’re dealing with... If you start getting some of the manipulation to come out of the market for fear that people are going to get called out on it, then you can allow the fundamentals to play out... and the real world pricing is being seen in the precious metals space..."
On the heels of State Department spokesman John Kirby's renewed proclamation that "US is committed to admitting more refugees," we thought this brief clip from France's picturesque Mantes La Jolie (in the western suburbs of Paris) - Europe's largest "ghetto" - would be useful...
"The Saudis bribed the Pakistanis not to tell us [that the Pakistani government had Bin Laden] because they didn’t want us interrogating Bin Laden (that’s my best guess), because he would’ve talked to us, probably. My guess is, we don’t know anything really about 9/11. We just don’t know. We don’t know what role was played by whom."
Whether you support him or not, my guess is that most middle-aged Americans are very surprised about Bernie Sanders' popularity. However, it shouldn’t be a surprise given the economic stress many Americans face. The four charts below capture the essence of what I’m talking about...
Update: after widening by 2bps earlier, Malaysia CDS is now +4 at 167bps and starting to move as macro "analysts" finally catch up on the entire story and comprehend the implications.
Malaysian CDS rose to near 3-month highs and the Ringgit has spiked over 300 pips - back near recent lows - after the Malaysian slushfund government investment fund 1MDB is reportedly in default. This is exactly the scenario we laid out last week that initially sent the currency lower and CDS higher, as the Abu Dhabi sovereign wealth fund has by all appearances started a potential waterfall default on Malaysian sovereign debt (due to cross-default triggers at the sovereign).
A record-setting 115,831 Chinese people lined up for Hubei province's civil services exam on Friday... all knowing that the 6,500 open positions meant the chances of acceptance were lower than that of getting into Princeton or Yale...
"What these central banks and governments are doing is incredibly irresponsible and stupid, printing these currency units up by the trillions... so there’s going to be a panic into gold. ...They’ve created a super-bubble in bonds, a bubble in stocks, and meanwhile commodities have collapsed and are below production costs in many cases. ...The economy is going to be very, very bad... It’s the next stage of what I call the Greater Depression."
If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told.
To gauge the degree and duration of the manufacturing slowdown, turn to semiconductors, which are the primary and early component in all things manufactured. That, plus other factors, make semiconductors an excellent leading indicator.
"Well, if you're involved in the oil patch directly, drilling activity or anything like that I think we've gone beyond recession and it's more a depression. The facts are that this latest round of commodity price collapse that happened the first part of this year I think really put the nail in the coffin for the industry."
As out friends from Fasanara Capital remind us, despite record liquidity injections by the PBOC in the past few days, Chinese repo rates have resumed continue breaking higher. The move is odd, given ongoing record liquidity injections (RMB 680 bn last week, RMB 150 bn today).
Outside of an exogenous geopolitical event - which given the way the world is tilting is becoming an increasingly likely occurrence - BofAML believes a bear market case is strongly supported by the probability of an economic shock most likely be tied to credit where signs of stress are building the most.