Was Trump Right? Leaked DNC Email Shines Unexpected Light On Cruz's "Militant" Father

In yet another awkward moment for Democratic talking point providers and Trump-deniers, Wikileaks' leaked DNC emails turned up an interesting factual confirmation of Trump's 'conspiracy theory' questions about Ted Cruz's father's background... "I will note that Cruz's father was in fact a militant who fought the Batista regime (which Fidel Castro defeated) and it would not be unusual for him to be caught up in the ugly web of Cuban militants with questionable histories."

Is Being Unemployed Just "Bad Luck"? (Spoiler Alert: Don't Be Stupid!)

Washington Post writer Matt O’Brien proposes Getting Stuck Without a Job is Mostly a Matter of Bad Luck. That notion is ridiculous. While there may be instances of 'bad luck', in general, the employees with the weakest skills were the first to be let go and the last to be rehired.

Silver Spikes Back Into Green After Overnight Slump

Silver was monkey-hammered lower as Japan and China opened overnight, bashed back below $19.50, and was accelerating lower ahead of the US Open when the fixing struck and suddenly Silver was panic-bid... on heavy volume... back into the green for the day...

FBI Launches Probe Of 'Putin/Trump' DNC Cyber-Attack

Following the release of greatly embarrassing emails that are forcing Hillary to lose control of the narrative, Politico reports, The Federal Bureau of Investigation has launched a probe into the hacking of the Democratic National Committee's emails. We are sure Director Comey will be closely watching and AG Lynch will once again take his word as gospel as somehow, we suspect, a narrative of Trump-Putin partnership will be created (or at the very least questions raised).

"This Scares The Hell Out Of Me" - ISIS Claims Responsibility For First German Suicide Bombing In Years

The suicide bomber who blew himself up outside a German concert, injuring 15, had declared allegiance to the leader of Islamic State, Bavarian Interior Minister Joachim Herrmann said. "A video with a corresponding threat of an attack made by the assailant was found on his cellphone, in which he declares in Arabic…in the name of Allah allegiance to Abu Bakr al-Baghdadi, a known Islamist leader, and threatens vengeance against Germans because they stand in Islam’s way."

Michael Moore: 5 Reasons Why Trump Will Win

"I am sorry to be the bearer of bad news, but I gave it to you straight last summer when I told you that Donald Trump would be the Republican nominee for president. And now I have even more awful, depressing news for you: Donald J. Trump is going to win in November. This wretched, ignorant, dangerous part-time clown and full time sociopath is going to be our next president. Here's why..."

Loonie Hits 4-Month Lows As Oil Sinks

The Canadian Dollar has now dropped 5 straight days, breaking above 1.3200 to the USD - its weakest in 4 months - as FX and equity markets catch up to oil's recent demise...

Caterpillar Retail Sales Decline For 43 Consecutive Months

if one looks only at trends revealed by CAT's retail sales the global economy has been mired not in a recession but an unprecedented depression, one which has now lasted some 43 months. That's how long CAT has gone without a single positive month in global retail sales, well over double the duration of the acute collapse in demand following the financial crisis.

"Don't Panic" German Minister Urges Population, Claims Surge In Attacks Has "No Link To Merkel Refugee Policy"

Pouring cold water on speculation that Merkel may take responsibility for the past week's events,  German Interior Minister Thomas de Maiziere said that "the attacks are unrelated to Merkel's refugee policy." He urged people "not to panic." And to help them do just that, the interior minister said that he has ordered increased security presence at airports, train stations and other public places, adding that the "German army can play a domestic role in special cases." Cases such as these.

Dallas Fed Outlook Contracts For 19th Straight Month With Wages Crashing To Sept 2013 Lows

For the 19th week in a row, it appears low oil prices are not "unequivocally good" for the Dallas Fed region. Despite surging from -18.3 to -1.8 (beating expectations by 3 standard deviations) we note that wages tumbled on the month, as did prices received. The biggest driver of the bounce appears to be 'hope' about the future new orders growth rate (20.3 to 34.7)...

IMF's 'Competitiveness Drive' Leaves 127,000 Greeks Earnings Under $110 Per Month

The dramatic shrinkage of Greek earnings due to recession, the explosion of unemployment and the dominance of flexible forms of employment is exposed in a new document submitted by an experts’ committee to Greek Labor Ministry. As KeepTalkingGreece reports, the document featured details wage inequality during the period 2010-2015 and exposes a new social class of workers: the Neo-Poor Greeks earning wages much less than the unemployment allowance of 360 euro.

Turkey Launches Investigation Of "Losers" Who Claim Coup Was A Hoax

Turkish prosecutors have begun investigating people who claim that Turkey's coup attempt was a hoax carried out by the government, the country’s justice minister said Sunday, reflecting a farcical crackdown on free speech.  “Just look at the people who are saying on social media that this was theater, public prosecutors are already investigating them. Most of them are losers who think it is an honor to die for Fethullah Gulen’s command,” Justice Minister Bekir Bozdag said.

Why We're Ungovernable: Debt & The Sudden Outbreak Of Utter Insanity

Debt works the same way for countries as it does for individuals and families: When you borrow too much your life spins out of control. And civil unrest becomes the rule rather than the exception. This sudden outbreak of apparent insanity doesn’t seem closely tied to the recent change in our borrowing habits. But it is, in several ways...

Key Events And Earnings In The Coming Week

The key economic releases this week include consumer confidence on Tuesday, the durable goods report on Wednesday, and the advance release of 2nd quarter GDP on Friday. The July FOMC statement will be released on Wednesday at 2PM. There are several scheduled speeches from Fed officials this week. 197 S&P 500 companies are due to report (or 38% of the index market cap) with the notable names including Apple, Verizon, Facebook, Coca-Cola, Alphabet, Exxon Mobil and Chevron.