"Hillary Rally" Fizzles As DB Hits New Record Low; Volkswagen Slammed; Oil Slides On Iran Statement

A rally in global risk that started during last night's first presidential debate on the market's take that Hillary came out on top fizzled, following news that the DOJ is assessing how big a criminal fine it can extract from Volkswagen (-3.8%) over emissions-cheating "without putting the German carmaker out of business", while Iran's oil minister Zanganeh told reporters Iran is ununwilling to freeze output at current levels. Deutsche Bank dropped to a new all time low while its default risk hit fresh record highs.

Debate Post-Mortem: Rematch Required As Commentators Split On Debate Winner, Markets Give Hillary Nod

From "big, fat, ugly bubbles" to "trumped-up trickle-down" economics, tonight's debate had something for everyone. One-liners and soundbites were dropped like confetti with strange facial gestures, delicate coughs, and direct jabs flying left, right, and center. As far as the results go, it's anyone's guess: Lester Holt was soundly beaten by everyone; the markets (S&P Futs and the Mexican Peso) suggest a Trump loss; Trump won Twitter; online polls were undecided with a slight nod to a Trump victory; as commentators were mixed, most siding along their ideological bias.

Dangerous Bubbles In Plain Sight

Relative to disposable income, the value of household financial assets now far exceeds the last two bubble peaks. And that has happened in an economic environment which suggests just the opposite. To wit, valuation multiples and cap rates should be falling owing the fact that the productivity and growth capacity of the US economy has been heading south ever since the turn of the century. So here’s the danger...

'Angry' Davids Vs. 'Complacent' Goliaths: Social Revolution Looms

Largely out of the headlines, the ongoing protest on Standing Rock is shining a bright light on how the big-moneyed interests with political clout steamroll the disadvantaged in order to get what they need. But in a rare David-vs-Goliath standoff, the Sioux tribespeople of Standing Rock Reservation are learning that they are not powerless.

Russian Foreign Ministry Responds To US Accusations: "The Real Barbarism Is What You Did In Libya and Iraq"

It was Russia's turn to respond to the accusations of "barbarism" which it did today through Russian Foreign Ministry spokesperson Maria Zakharova. “Historically speaking... a barbarian is someone not belonging to an empire, and we have only one of those today,” she noted on her Facebook page. “As for the imagery... the world has seen nothing more barbaric in modern history than Iraq and Libya done the Washington way.

George Soros' False Flag Factories

Global hedge fund tycoon and political provocateur George Soros is leading a war of symbols, namely flags and banners either resurrected or conjured up by his myriad non-profit groups, to stir religious, racial, and ethnic tensions the world over.

"Foot-In-Mouth" Trump Vs. "Frog-In-Throat" Clinton: First Presidential Debate Begins - Live Feed

The day has finally arrived. The two most disliked presidential candidates in the history of America face off mano a (wo)mano in a 90-minute, pee-break-barred grudge match of the politically-correct corrupt establishmentarian against the deplorable status-quo-wrecker. With the polls tied up, there's everything to play for as a record audience tunes in to see who will screw up first...

"America Is On Our Side": Al-Nusra Commander Tells German Press US Is Arming Jihadists

US weapons are being delivered to Jabhat Al-Nusra by governments that Washington supports, a militant commander told the German media, adding that American instructors were in Syria to teach how to use the new equipment.
"Israel is now giving us support because Israel is at war with Syria and with Hezbollah... The Americans are on our side."

Wells Fargo Or The Fed: Who's The Bigger Fraud?

The Wells Fargo bank account scandal took center stage in the news last week and in all likelihood will continue to make headlines for many weeks to come. What Wells Fargo employees did in opening bank accounts without customers' authorization was obviously wrong, but in true Washington fashion the scandal is being used to deflect attention away from larger, more enduring, and more important scandals.

Hofstra University Unveils "Trigger Warning" For Tonight's Debate

"Trigger warning: The event conducted just beyond this sign may contain triggering and/or sensitive material. Sexual violence, sexual assault, and abuse are some topics mentioned within this event. If you feel triggered, please know there are resources to help you.”

The QE Premium

"...to be blunt, given the aforementioned fundamental risks and the poor risk/return skew, history is clearly not in favor of those who remain long equities banking on the Fed to continue to levitate valuations and prices with limited tools and faulty narratives."

What A Commodity Trading Legend Is Buying Ahead Of The Next Crisis

When a commodity trading guru like Dwight Anderson, founder of the iconic Ospraie Management has something to say on the market outlook, people tend to listen, especially when he’s consigning the last great commodity bull run to the history books and buying gold and farmland for the next crisis.

Lawmakers Vow Override of Obama's 9/11 Victims Bill Veto

Throughout Obama’s presidency, his vetoes have always survived Congressional challenges. That his first might be a bill about Saudi Arabia reflects waning Saudi influence in lobbying Congress to get their way, and what would likely have once been a very safe veto is now at serious risk.

The 2016 Presidential Election Comes Down To Only One Thing...

As we inch closer and closer to November 8th, one thing has become increasingly clear: This election will be viewed by voters as a referendum on the status quo itself. While it’ll definitely be a referendum on Obama specifically, it’s much bigger than that. It’ll be about whether the American people want to continue along the path we’ve been on for decades, or if they’re willing to try something entirely different.