China "National Team" Rescues Stocks As Downgrade Crushes Commodities

Iron ore led a slump in industrial commodities after Moody’s Investor Service downgraded China’s credit rating and warned that the country’s debt position will worsen as its economic expansion slows. However, one glance at the divergence between industrial metals' collapse and the sudden buying panic in Chinese stocks confirms what Asher Edelman noted yesterday about the US markets, China's so-called "National Team" was clearly intervening...

Six Terrifying Graphs That Summarize America's Public Pension Crisis

A new report from the Hoover Institution reviews, in detail, 649 state, county and local pension systems in the United States and ranks them based on funding status and impact on local budgets.  What it reveals is a hidden taxpayer debt burden, in the form of underfunded pensions liabilities, totaling over $3.8 trillion.

"Secret" Russian Document Influenced Comey's Probe Into Hillary Clinton: Report

The Washington Post revealed Wednesday evening that former FBI Director James Comey’s decision to unilaterally announce the closure of the investigation into whether Hillary Clinton intentionally mishandled classified information was inspired by a "secret, dubious" Russian document that FBI officials now believe was “bad intelligence.”

Crispin Odey: "Why Do I Remain Stubbornly Bearish?"

"When it comes to markets, we have to watch for ‘the Minsky moment’. Minsky argued that periods of low volatility, presaged crises because they encouraged excessive risk taking. Well, we are into the risk taking. But this fund truly does not demand that the end of the world comes tomorrow."

Two Simple Charts Explain The Devastating Consequences Of Obamacare

As the mainstream media and the original Affordable Care Act (ACA) architects attempt to saddle the Trump administration with the blame for Obamacare's epic implosion, we thought these two charts, which highlight the staggering increases in premiums from 2013 through 2017, were a timely reminder that Obamacare's 'implosion' occurred long before people even thought Trump had a shot at the White House. 

Wall Street's Take On The Fed Minutes: June, Sept. In Play; BS Unwind May Come Sooner

While the dollar and TSY yields both dropped to session lows shortly after the FOMC announcement hit as traders focused on the Fed disclosure that FOMC voters thought it prudent to await evidence an "economic slowdown is transitory" suggesting the committee still wanted to hike rates but was willing to wait for the certainty of data,  Goldman's disagreed and according to a just released assessment by Goldman's Jan Hatzius, the statement was more hawkish than perceived by the market.

Can The US Economy Ever Get Back To 3% GDP Growth?

It is really about reasserting the preeminence of humans – the workforce – in any calculus of macroeconomic policy. Make them (us, really) more productive, and the economy will grow faster. And if that is impossible, and with it that 3% target, then technology will replace the worker rather than simply augment his or her efforts.

Trump Reveals Location Of 2 Nuclear Subs To Duterte

The NYT is once again bashing Trump for his "loose lips," alleging that the president revealed to Filipino President Rodrigo Duterte the location of two U.S. nuclear submarines lurking in the waters off the Korean peninsula...