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Democracy Or Oligarchy - You Decide

In the interests of clarifying what it is that America has become, we offer this...



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IRS Blames Taxpayer Data Breach On Russian "Crime Syndicates"

"The IRS believes that a major cyber breach that allowed criminals to steal the tax returns of more than 100,000 people originated in Russia", CNN says, in what amounts to an escalation of what Washington claims is a cyberwar against a growing list of so-called "cyberadversaries."



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Crude Craters After API Reports "Disappointing" Inventory Build

WTI Crude hit new 6-week lows at $57.36 after the close as API inventory data showed a build of 1.268 million barrels (after 3 weeks of draws) - dramatically higher than the 5.2mm barrel draw last week. Cushing saw a very small 72k draw.



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Welcome To The Funny-Money Generation

Genuine economic growth is something you can allow, but you cannot force. If you try to trick your way to it – with phony interest rates, more debt, and cockamamie inflation targets – you will retard the growth, not speed it up. This is obvious, too. But Ms. Yellen is paid not to see it. And in the absence of real growth, the Dow at 18,000 looks vulnerable. It wouldn’t be at all surprising to see a rolling top take shape... with a sharp break in the fall. But here we leave the vagaries of the market to pay homage to America’s Second Greatest Generation.



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Low Wages & Unemployment Are An Existential Crisis For Millions

If millions of young Americans don't start earning more money, they can't afford to have children, or take care of them properly, and that is the end of us as a nation.



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Switzerland To Open Bitcoin Bank As Crypto "Fort Knox" Relocates To Zurich

Switzerland is set to open its first Bitcoin bank, multiple sources tell Handelszeitung. Meanwhile, Xapo, the self-appointed "Fort Knox" of the crypto currency world, is relocating from Silicon Valley to Zurich.



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Using Logic, Facts, & Basic Math? - You Are A "Doomer"

“Things always become obvious after the fact”Nassim Nicholas Taleb

“Facts do not cease to exist because they are ignored.”  – Aldous Huxley



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Dip-Buyers Rescue Nasdaq Back Above Record Close

Mission Accomplished-er...



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Venezuela Solves Toilet Paper Shortage As Inflation Surpasses 100%

“You want to buy a car? There aren’t any. You want to buy an apartment? You can’t afford one. Basic products aren’t available,” he said. “The only refuge that people have is buying dollars, and because of that, the demand doesn’t stop.”



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QE4 Arrives: Mystery Drone Rains Money On People In Michigan, Cash-Grabbing Frenzy Ensues

We got a glimpse of just what Yellen has in mind for the next 'monetary transmission mechanism' yesterday, when a mystery drone appeared above the Rosa Parks Circle in Grand Rapids, Michigan and literally rained down money on the people below, leading to what the Mail describes as a "cash-grabbing frenzy."



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How Clinton Foundation Donations Led To Billions In Weapons Sales To Autocratic Regimes

Another day, another Clinton Foundation related scandal. In the latest expose by International Business Times’ David Sirota, we learn about the explosion in weapons sales to certain nations during Hillary Clinton’s tenure as Secretary of State. Billions of dollars in sales went to autocratic regimes notorious for human rights abuses who donated generously to the Clinton Foundation. Should we be surprised? No. Should we be outraged and disgusted? Absolutely. Of all the Clinton scandals, the following is the most dangerous to peace on earth.



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5 Year Bond Auction With Highest Yield For 2015 Leads To Strong Demand, Jump In Direct Bidders

A day after the 2 Year auction surprised with solid demand all around, moments ago the US Treasury issued $35 billion in 5 Year paper which also came stronger than some had expected, pricing at a yield of 1.56%, 0.6 bps through the 1.566% When Issued. Like in yesterday's auction, the yield was the highest of 2015. The Bid To Cover dipped modestly, dwon from 2.56 to 2.46, and in line with the 2.47 average.



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Obama Loses Immigration Battle As States Block Executive Order

On the heels of a tough Senate fight that initially saw Democrats oppose granting fast-track authority on trade deals, President Obama was just dealt a fresh blow related to what some say is another example of Presidential overreach after the 5th U.S. Circuit Court of Appeals in New Orleans ruled that an executive order on immigration designed to prevent the deportation of undocumented immigrants will remain on hold.



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