One of the most beat to death gun control arguments is “Your odds of dying go WAY higher if you have a gun in the home! No one should own guns, guns are deadly!” Now replace the word “gun” with “opioid-based painkillers” – yes, I mean the Percocets, Vicodins, Oxycontins, and all the others. Now your argument is somewhere between 5 and 107 times as pertinent, depending on the classification of suicide, and addiction/accessibility.
In what has been described as "a sophisticated, coordinated fraud incident," more than 100 people withdrew $13 million from 1400 ATMs across Japan in less than three hours. The coordinated heist involved forged credit cards, and data stolen from South Africa's Standard Bank.
"For the average "middle class" person in Venezuela -- educated and still holding on to a good job -- he needs two years of wages to buy a single plane ticket in his own currency. He's stuck there. The problem is that he waited too long to leave... You can't even find some land and grow your own food. You cannot do that when you have the government stealing it from you. It’s a no win situation."
"Oil is a 60 vol instrument,” said the CIO. “If you’re targeting 10 vol for your fund, how much oil could you own?” he asked. “At most you put 15% of your fund in the trade.” Meaning you had nothing else in the book. “So imagine you caught 50% of the 70% crude rally. Your absolute best case would’ve been a 7.5% gross return.... Realistically your best case was more likely +2.5% on this heroic rally, which is why the industry is broken.”
Some say government must be involved in the debate over what bathroom transgender individuals should use in order to ensure that private businesses do not violate individual rights. Those who make this claim are accepting the idea that rights are no more than a gift from the government that can be revoked at the will and whim of legislators and bureaucrats. This argument turns rights from a shield protecting our liberties into a sword that can and will be used to increase government control of our lives.
While million-dollar home used to be a rarity in the United States as recently as 2012, they have now become commonplace in many of America’s largest housing markets. The following dramatic time-lapse animations demonstrate just how prevalent
"In essence, Hillary Clinton and the DNC each wants us to believe that lobbyists and SuperPACs don’t expect anything from them in return for their money. This is the most basic, foolish, offensive lie they could ever tell. Of course they want something in return. That’s the business they’re in...The thing is, though, the Democratic Party isn’t really very democratic. It’s sincerely just a machine for Hillary Clinton."
Not only is there real world conflict to worry about, it turns out there are an increasing amount of conflicts to worry about in Legoland as well. According to a study by New Zealand's University of Canterbury, violence in LEGO products has increased significantly as the company looks to boost sales.
Shortly after the market close, the rating agency decided to pile some more pain on the misery that has befallen Germany's largest lender (who just today admitted it had rigged stocks in addition to seeing yet another MBS probe unveiled against it), when it downgraded the bank's credit ratings across the board as follows: Senior debt to Baa2, or just two notches above junk, Long term deposits to A3 and counterparty risk assessment to A3.
Monetary policy may seem technical as clever people debate among themselves whether the optimal policy rule should be one part inflation and one part output gap or one part inflation and two part output gap with various degree of flexibility in its interpretation. In reality it is just a bunch of academics looking at an extremely simplified mathematical representation of the world under the pretense of knowing the consequences of their actions. They do not. It is all made up as they go along and the repercussion for their hubris will be borne by all of us. It is glaringly obvious to us that the extraordinary decisions made by our money masters over the last decade will end in an extraordinary correction of malinvested capital. Applying the scientific method of natural science on a social system is the gravest error of them all.
A month ago, Virgina governor Terry McAuliffe signed a controversial order into law which restored voting rights to more than 200,000 convicted felons in Virginia. At the time we noted McAuliffe's close relationship with Hillary, and opposition comments that his action "doesn't speak of mercy. Rather, it speaks of political opportunism," and African American support in the state. All of which is by way of background as CNN reports today that McAuliffe is now being probed over questionable donations made to his campaign (from a Chinese businessman) during his time as a board member of The Clinton Global Initiative. We have three simple words: quid pro quo?
Steen Jakobsen, chief economist and CIO of Saxo Bank, says the US Federal Reserve is on the verge of making a mistake about its projected rate hikes. The Fed has given itself the option of hiking interest rates at its June meeting; but Jakobsen says he is sceptical about the proposals, arguing that the Fed is taking the recent improvement in US economic data as an uptick in overall momentum. Jakobsen says the economy is still performing significantly below its potential, but thinks the Fed wants to hike interest rates now so it can lower them at a later date.
The US energy sector is now trading at a roughly 7x EBITDA multiple compared to a historical average between 1x and 2x. It only gets worse from there.