What If We're In A Depression But Don't Know It?

Is the economy in a Depression? Not if you're a corporate bigwig skimming vast gains from corporate buybacks funded by the Fed's free money for financiers. But if you're a wage earner who's seen your pay, hours and benefits cut while your healthcare costs have skyrocketed - well, if it isn't a Depression, it's a very close relative of a Depression.

Apple Tumbles After Channel Checks Reveal iPhone 7 Exuberance Misplaced

Despite exuberance from the wireless service providers, it appears channel checks from Germany's GfK, Germany's largest market research institute, show things for the iPhone7 are not as great as the carriers would like the world to believe.According to a GfK note, AAPL iPhone units shows that launch weekend sales for iPhone 7 and 7 Plus were down by ~25% Y/Y compared to the first weekend of the 6S and 6Plus.

Keith Scott's Family Release Video Of Police Shooting

While the police are reluctant to relase the video of the actions leading up to the deadly shooting of Keith Lamont Scott in Charlotte, NC; the family has released their phone-recorded version of events...

Heidi Cruz Rejoins Goldman Sachs

While Goldman is best known for creating the revolving door, where it either soaks up SEC "regulators", spawns central bankers and/or Treasury Secretaries like Hank Paulson, a new function was revealed today: providing sabbaticals for the spouses of presidential candidates. Case in point: Heidi Cruz, who left Goldman Sachs last year to help her husband Ted Cruz in his quest for the Republican presidential nomination, is returning to the bank in a newly created role in the Houston office.

US-EU Trade Talks "De Facto Dead"

...German Economy Minister Sigmar Gabriel declared that [talks] were “de facto dead”. The French minister told the Handeslblatt newspaper that the United States had demanded too much and not compromised enough. "A crazy machine is moving here, the negotiations are a failure, nobody believes that they will come to a successful conclusion..."

NY Fed Slashes GDP Forecast, Now Sees Weakest Growth Since Financial Crisis

Just in case the Fed needed an "out" to its "hawkishly holdish" December rate hike, it got it moments ago when the NY Fed slashed its Q3 and Q4 GDP estimates, and now expects just 2.3% annualized growth in Q3 and 1.2% Q4, down 0.5% each from the previous forecasts of 2.8% and 1.7%.

France's "Great Wall Of Calais"

Building work has begun on a wall in the northern French city of Calais, a major transport hub on the edge of the English Channel, to prevent migrants from stowing away on cars, trucks, ferries and trains bound for Britain. Dubbed "The Great Wall of Calais," the concrete barrier — one kilometer (half a mile) long and four meters (13 feet) high on both sides of the two-lane highway approaching the harbor — will pass within a few hundred meters of a sprawling shanty town known as "The Jungle."

"Sometimes Party Loyalty Asks Too Much" - Lifelong Establishment Democrat Urges Voters To Support Trump

"...I believe my party has become the party of the elites and moneyed class and has deserted its historic mission as the party of the working class and disadvantaged.Given my level of discomfort with the current leftist orientation of the Democratic Party, I am now supporting Republican nominee Donald Trump for president. I urge my fellow Democrats to vote for Mr. Trump."

Manufacturing PMI Slides As New Orders And "Subdued Domestic Demand" Weigh On Growth Hopes

The brief July spike hopes of a rebound are officially dashed on the rocks of reality as Markit's Manufacturing PMI (preliminary) print for September missed expectations of 52.0, dropping to 3mo lows at 51.4. New orders and inventories declined but payrolls picked up modestly despite lsowing output. As Markit noted, "softer new order gains... alongside reports of subdued domestic demand" are the main concern.

Gartman: "We Are Now Of Course Net Long Of Equities"

"Having suffered a very bad three week period, but noting that aluminium shares “gapped” higher yesterday and the day previous after having held their 200 day moving average earlier this week. We have had derivatives in place to hedge that position, but we’ve been reducing that derivatives position all week long and we are now of course net long of equities on balance."