There's No Painless Exit From The "Fake Faux Financialized" Economy

"The sanctioning of this deranged hypocrisy is shaping a generation that could easily turn into political monsters when they eventually come into power - and that coming-to-power may coincide with much more desperate economic conditions on the road ahead."

Arizona Governor Signs Bill To Repeal State Capital Gains Taxes On Gold & Silver

"If you’re for less government, you want sound money. The people who want big government, they don’t want sound money. They want to deceive you and commit fraud. They want to print the money. They want a monopoly. They want to get you conditioned, as our schools have conditioned us, to the point where deficits don’t matter."

Watch Live: Hillary Delivers Commencement Speech At Her Alma Mater, Wellesley College

As College Government President of the Class of '69, nearly 50 years ago Hillary Clinton became the first student in history to deliver a commencement speech at Wellesley College.  Moments from now Hillary will once again take that stage, absent the 'President' title, to deliver the commencement speech to the Class of 2017.

UMich Confidence Shows Partisan Divide Widest Ever But All Agree It's Time To Sell Your House

UMich confidence is stable at its post-Trump plateau for now, but the partisan divide between Republicans (robust economic growth ahead) and Democrats (recession looms) has never been wider. However, one thing they all agree on is that for the first time since the peak of the housing market in 2006, home-buyers are negative on home prices with home-sellers most dominant since 2005.

Estonia Expels Two Russian Diplomats; Moscow Warns This "Unfriendly Action Will Not Go Unanswered"

Two senior Russian diplomats, Consul General Dmitri Kazjonnov and Consul Andrei Surgjev, have been ordered to leave Estonia the country's foreign ministry said on Friday.It was not immediately clear what prompted the expulsion, and the Estonian foreign ministry gave no other details. "We can only confirm that two diplomats have been expelled," said spokesperson Mariann Sudakov.

How Non-profit Organizations Saved Q1 GDP

While healthcare was revised sharply lower in the second revision, this was more than offset by a $11.9 bilion annualized increase in expenditures of "nonprofit institutions serving households."

Core Durable Goods New Orders Plunge In April

Headline durable goods orders tumbled 0.7% MoM (the worst of the year), but beat expectations of a 1.5% drop. However, Core Durable Goods New Orders fell 0.4% (dramatically worse than the +0.4% expectation) for the worst performance since June 2016.

Frontrunning: May 26

  • Trump's first G7 expected to be 'challenging' (Reuters); Trump Saves Worst for Last on Foreign Trip (BBG)
  • Trump Blasts German Carmakers' U.S. Sales and Threatens Barriers (BBG)
  • Trump directly scolds NATO allies, says they owe 'massive' sums (Reuters)
  • Trump Likely to Maintain Obama’s Russia Sanctions (WSJ)
  • Juncker says Trump was not aggressive on German trade surplus (Reuters)