Passive Aggressive Pigs Get Slaughtered

"Most of the money supporting ETF asset growth is coming from investors ignorant (or willfully ignorant) of risk. As with active investing, ETFs provide mostly long exposure. Unlike active investing, the higher cap-weighted indexes move beyond sustainable value, the more likely ETFs will disappoint investors."

The Mainstream Media Is Using "Trolling" As An Excuse To Censor The Right

"...a 'review team' is subjectively deciding which content it will censor. What happened to the programmers and objectively censoring 'trolls' and abuse? The whole thing is much more similar to McCarthyism, except instead of targeting 'communists' during the Cold War, they are targeting 'right-wing' websites and individuals. Truly a threat to 'national security' in the same vein as ISIS, isn’t it?"

WTI/RBOB Pump'n'Dump After Surprise Inventory Data

After last week's surprise draw (but big build at Cushing), API reports a bigger than expected crude (and Cushing) build and bigger than expected draw in Gasoline inventories. For now, both WTI and RBOB kneejerked higher but WTI faded very rapidly.

North Korea Threatens US With "First-Strike" Nuclear ICBM

North Korea has nothing to fear from any U.S. move to broaden sanctions aimed at cutting it off from the global financial system and will pursue "acceleration" of its nuclear and missile programs, including developing a "pre-emptive first strike capability" and an inter-continental ballistic missile, a North Korean UN envoy warned.

"Alexa... Should I Buy Stocks?"

Are retail investors buttressing US stocks at current (and elevated) levels? A variety of indicators say "Yes". Our primary concern: fund flows can be quite seasonal, with Q1-to-early Q2 a peak period due to retirement account flows. After mid-April, this diminishes considerably. Then, we will need a reliable stream of positive headlines to keep retail investors in the game.

How OPEC Lost The War Against Shale, In One Chart

Goldman presents a chart which shows just as graphically how exactly OPEC lost the war against US shale: in one word: the cost curve has massively flattened and extended as a result of "shale productivity" driving oil breakeven in the US from $80 to $50-$55, in the process sweeping Saudi Arabia away from the post of global oil price setter

Microsoft Outlook Hit By Another Global Service Outage

Two weeks after a variety of online services from Microsoft suffered outages for several hours on Tuesday across Western Europe and the Eastern United States, Outlook and Hotmail appear to be having another outage across the US.  Services like Xbox Live, Outlook.com, Skype, OneDrive, and Microsoft’s Windows Store are currently not allowing users to sign into accounts.

Are U.S.-Saudi Relations Turning Sour?

Time will tell, but cries of victory in Washington by Saudi Arabian Deputy Crown Prince and Defense Minister Mohammed bin Salman seemed hollow and perhaps even apocryphal.

Venezuela Stops Publishing Money Supply Data For Obvious Reasons

More than a year after hyperinflating banana republic Venezuela stopped reporting official inflation data, Venezuela has stopped publishing money supply data, depriving the general public of the last, and best, available tool to ascertain soaring inflation in what has become the world's worst-performing economy.

Trump Warns House Republcians To Support Health Bill Or Risk Losing Their Jobs

During his visit to the Capitol, Trump singled out Freedom Caucus Chairman Mark Meadows, a Trump ally during the presidential campaign who opposes the legislation. “I think Mark Meadows will get there too,” Trump told the Freedom Caucus chairman, half-joking. “Mark, I’m coming after you.”

RBC: "We Are Seeing A Complete Breakdown In The Model"

"...the current (ongoing) breakdown in the USD is representative / driving some short-term and nascent deleveraging of legacy ‘reflation’ trades as per the sudden-death of the central bank "policy divergence" story last week - which had been the primary Dollar bull-case driver over the past year..."

Will Russiagate Backfire On The Left?

The big losers of the Russian hacking scandal may yet be those who invested all their capital in a script that turned out to based on a fairy tale. After eight months investigating the hacking and leaking of the emails of Clinton campaign chief John Podesta and the DNC, there is apparently no evidence yet of Trump collusion with Russia.