Former Morgan Stanley Chief Asia Economist: "Don't Listen To The Ruling Elite, The World Economy Is In Real Trouble"Submitted by Tyler Durden on 05/28/2016 - 14:00
"Don't listen to the ruling elite," warns former Morgan Stanley Asian Economist, Andy Xie, "the world economy is on the cusp of a prolonged period of stagnation and instability." Xie points out that the ruling elite is blaming it on people seeing things (skeptic and fiction peddlers), and that "their strategy is to change people’s psychology." Unfortunately for them he concludes, "the world is catching fire and that fire will eventually reach their Davos chalets."
Late Thursday evening the Justice Department, under US attorney general Loretta Lynch, first appointed in 1999 by none other than Bill Clinton, filed a court motion opposing the Clinton deposition request from conservative legal watchdog Judicial Watch, claiming that the organization was trying to dramatically expand the scope of the lawsuit.
“Secretary Clinton should have surrendered all emails dealing with Department business before leaving government service, and because she did not do so, she did not comply with the Department’s policies that were implemented in accordance with the Federal Records Act,” the audit report said. Bottom line: Mrs. Clinton violated the Federal Records Act. However, what is probably the most troubling about all of this is that, despite these blatant violations, there will be absolutely no legal repercussions for Mrs. Clinton for this offense. She’s off the hook! Why aren’t all the pundits screaming about that?
When NSA whistleblower Edward Snowden first exposed the world to just how easily the government could compromise their technology and spy on them, many immediately sought ways to secure their data and protect their gadgets. But, as Wired.com reports, Snowden is here to help. "'Going Black' is a pretty big ask," he tells VICE's Shane Smith, but not impossible, as Snowden shows how to "make sure your phone works for you... instead of working for someone else."
Who is to blame for Trump and Sanders?
In a shocking turn of events, a law passed on May 22 by Iceland's parliament is offering the foreign holders of about $2.3 billion worth of krona-denominated bonds a choice of either selling out in June at a below-market exchange rate, or have the money they receive upon maturity be impounded indefinitely in low interest bank accounts. In other words, Iceland is trying to kick out foreign investors.
While still relatively low, USA sovereign CDS spreads have risen to 8-month highs, surging off early March lows. The reasons are likely numerous though we suggest the 4 surges in the last 3 months appear to line up with notable 'events'...
It is not a secret that democracy can be used to abolish democracy. It may have finally begun to dawn on the people that Swedish Sweden will soon be lost forever, and in many areas replaced by a Middle Eastern state of affairs, where different immigrant groups (mainly Muslims) make war on each other as well as on the Swedes. There is no country where Islam is dominant that can be considered a democracy with freedom of speech and equal justice under law.
What is the reason for this dramatic move higher? It appears to be China, because moments ago Bitcoin traded in CNY on the Huobi exchange soared as high as 3820, or over $580, imply a massive local-demand driven arb:
As a Trump presidency becomes more and more of a possibility, immigrants believe that if there ever was a time to try and get across the border to the United States, that time is now - before Trump has a chance to act on his words. Trump "says he wants to build a wall. They want to get over before he builds it,” said Mario Saucedo Mendoza, who works at the Senda de Vida migrant shelter in Reynosa, the Mexican city across the border from McAllen. “He’s said these things, and people are trying to get in front of him, they are trying to cross now...The campaign trail talk is going to encourage people from here to November."
"Greed and fear are teachers... Do not read the newspapers, or follow the news in any way or form...It doesn’t mean ignore the news; it means that you go from the events to the news, not the other way around... If something is nonsense, you say it and say it loud...One should never do anything without skin in the game."
If libertarians lose on the inflation issue, they are threatened with the loss of every other issue. If libertarians could win the inflation issue, they could come close to winning everything else. If they could succeed in halting the increase in the quantity of money, it would be because they could halt the chronic deficits that force this increase. If they could halt these chronic deficits, it would be because they had halted the rapid increase in welfare spending and all the socialistic schemes that are dependent on welfare spending. If they could halt the constant increase in spending, they could halt the constant increase in government power.
In the run-up to June, financial markets continue to be trapped within multi-month trading ranges: GT5 1.2-1.8%, DXY 92-100, ACWI 380-440, SPX 1850-2100, VIX 12-20. So what are the catalysts & “trades of the unexpected” should risk assets finally breakout or breakdown?
There's no masking the facts. As Reuters reports, one Chinese factory is expecting Donald Trump to beat his likely U.S. presidential rival Hilary Clinton in the popularity stakes..."I think in 2016 this mask will completely sell out," said factory manager Jacky Chen, indicating a Trump mask.