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Trickle-Down Crash? Trophy Assets Suddenly Tanking

One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and from there into trophy properties like high-end real estate, superyachts, and fine art. This might be the first financial bubble to completely bypass the 99%. And now it’s ending...


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"It's Unbearable" 50-Year-Old German Woman Rages "I Have Lost All My Trust In The State"

"I am almost 50 years old, I have a University degree, and was – out of love for nature – always a trusted voter for the Green Party. I never felt much interest for politics. In Germany everything seemed to always go its natural regular course. I had trusted our parliamentary democracy, I thought our administration would hardly make mistakes, because it is controlled by the opposition. Never, absolutely never did I think that I would lose all my trust in the State. It’s unbearable that I am afraid of the future. Preferably I’d just like to leave. But I feel too old to leave Europe...I am – like most Europeans – damned to impotence as I see this invasion happen."


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"An Unusual Number Of Known Unknowns" - These Are The Key Event Risks In June

In June there will be "an unusual number of known unknowns from several sources. June 2016 is a month in which the number of event risks is particularly high. In our baseline scenarios we do not see market upsets, but the potential is there: Japanese fiscal policy; meetings of the ECB, Fed and BoJ; new ECB policy implementation; a German Constitutional Court ruling; the UK referendum; elections in Spain; and a decision on the FTT are all thrown into the mix."


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Almost 100 Beheadings So Far In 2016 And Counting... And No, It's Not ISIS

Amnesty International warned on Friday that a surge in executions carried out by Saudi authorities could see more than 100 people put to death in the first six months of 2016. The London-based watchdog says that the kingdom carried out at least 158 death sentences last year, making it the third most prolific executioner after Iran and Pakistan. This year, at least 94 people have been executed so far, “higher than at the same point last year,” Amnesty International said. Sources in the kingdom told Middle East Eye that prisoners arrested when they were children and others suffering from mental illness were among dozens of inmates executed in Saudi Arabia in January. One security source who witnessed the executions told MEE: “It was a massacre. There was blood and body parts everywhere.”


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Trump And Hillary Don't Know How To Fix The Economy

Recently, Hillary Clinton was taped ridiculing Donald Trump for lacking a detailed plan for the American economy. The message, so it goes, is that Trump is not suited for the presidency because he doesn’t have a plan on how to turn the American economy around. But is it really more dangerous to elect a president who makes up economic policy on the fly than one who proclaims to have a detailed plan for us? The answer to this is no... The underlying problem is we have two competing people who think they can manage the American economy.


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Grant Williams Warns Of Looming 'Wealth Tax', Says "Own Physical Gold, Not ETFs"

"I don't buy gold, I own it. I don't buy gold at $1,100 because I think it's going to go to $1,200. I buy it for what it does, not what the price is, the price is the last consideration for me. It's not just an asset anymore it's the answer to a lot of people's questions.. the most important stage of this is next and that is the resolution between the paper price and the physical asset. I think when we get to that point where people want to own gold, ETF's won't suffice anymore."


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Beyond The Minsky Moment: China's Ponzi Schemes Are Now Investing In Other Ponzi Schemes

The risk of a default chain reaction is looming over the $3.6 trillion market for wealth management products in China. WMPs, which traditionally funneled money from Chinese individuals into assets from corporate bonds to stocks and derivatives, are now increasingly investing in each other.


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Why The Next Black Swan Will Turn Into A Flock

People “are just rolling the dice, thinking nothing could be as bad as 2008.” They think (or believe) if it happens again all they’ll have to do is the same as they did last time e.g. Hunker down, wait for the storm to blow over. Rinse, repeat. This is where the real issue lies for not only the Fed per se, but rather, the entire political as it is currently known. For if a “black swan” does indeed hit once again in the very near future? Once people realize just how systematically they’ve been cut off from those “assumed” resources, especially during a crisis?  All hell is going to break loose in ways the academic class, as well as, the political never envisioned. For when the time comes (and there is no more important “time” than that during a crisis of confidence) where words truly matter, and everyone no longer believes? Everything changes. And I do mean: everything.


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"Bill Clinton Was Here": The Elite One-Percent’s 'Orgy Island' Exposed

If you can name it — it has likely taken place this the lavish private island off the coast of Puerto Rico which boasts a beautifully landscaped plush luxury estate complete with its own helipad, privy only to certain members of the global elite.


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Nobel Peace Prize Winner President Obama Speaks At Arlington National Cemetery - Live Feed

Having pledged to end the wars of his predecessor, President Obama came into office almost eight years ago as an anti-war candidate but instead has now been at war longer than any other American president. Mr. Obama, who won the Nobel Peace Prize in 2009, has made endless promises of "bring the troops home" or "no boots on the ground" but will have a longer tour of duty as a wartime president than Franklin D. Roosevelt, Lyndon B. Johnson, Richard M. Nixon or his hero Abraham Lincoln. As the anti-war candidate speaks today as president to remember the fallen heroes, just days after his visit to Japan, one wonders who will be delivering this address next year.


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Ex-CEO Of Largest Swiss Insurer Commits Suicide, Three Years After CFO Hanged Himself

In the latest tragic news from the world of finance, earlier today Zurich Insurance, the largest Swiss insurer which employs 55,000 people and provides general insurance and life insurance products in more than 170 countries, reported that Martin Senn, the company's former chief executive officer who stepped down in a December reshuffle, has committed suicide. He was 59.


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What The Charts Say: Fatally Attracted To New Highs

So we’re short term overbought, with 3 unfilled gaps below and lower highs still in place with stocks being the most expensive in years and yet the NYSE Composite Index is still below key resistance. Ignore it all if you find yourself attracted to new highs. They may indeed come, just remember who gets hurt when the attraction proves fatal...


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Never Forget

As the barbeque-bonanza and shopping-fest, that Memorial Day has become for many, takes shape, we thought a little reflection was necessary on the deeper meaning behind this important celebration honoring those who fell in the armed services of America during its wars.


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Why This Friday's Payrolls Report Could See A Big Miss

When the main economic event this week hits this Friday at 8:30 am EDT, when the BLS releases the May payrolls report, Wall Street consensus wil be expecting a 160,000 print, a number which will have a big impact on market expectations for a Fed rate hike at the June or July FOMC meeting. However, consensus may be disappointed for one reason: the Verizon strike could chop off as much as 35,000 workers from the headline payrolls print.


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