Fortunes Will Be Made & Lost When Capital Flees To Safety

There's a preponderance of data that shows the world's major asset markets are dangerously overvalued. And when these asset bubbles start to burst, the 'save haven' markets that investment capital will try to flee to are ridiculously small. Investors who do not start moving their capital in advance of crisis will be forced to pay much higher prices for safety - or may find they can't get into these haven assets at any price:

Turkey Gloats: "The Crusader Union Falls Apart"

Earlier today, we showed the front pages of British newspapers on the first day after the historic Brexit referendum. Just as amusing front pages, howeve,  abound in Turkey and especially among the pro-government (and thus government-controlled) press, such as the Akit newspaper, which looks at the chaos in the UK and says "the Crusader Union falls apart."

Greenspan: "This Is The Worst Period I Recall; There's Nothing Like It"

"This is the worst period, I recall since I've been in public service. There's nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away. I'd love to find something positive to say."

Peter Schiff: "Brexit Is Just What The Doctor Ordered"

British voters may not know what they will get with an independent Britain, but they knew that something was rotten, not just in Denmark, but all over the European Union. The same holds true in the United States. Until our leaders can paint more realistic pictures of where we are and where we are going, we should expect more “surprises” like the one we got yesterday.

First The UK, Then Scotland... Then Texas?

That didn't take long. Only hours after the final results came in for a British exit from the EU, political leaders in Scotland are talking about renewing their drive to secede from the United Kingdom. While secession of American states is often dismissed as absurd, there are few reasons to believe that a state like Texas - to name just one example - could not immediately transition from state to nation-state. With a large economy, port cities, oil, and easy access to European, Latin American, and even Asian economies by sea, economics arguments against such a separation fall flat.

Hillary's Official Calendar Is "Missing" A Lot Of Entries

When the AP compared Clinton's 1,500 page official calendar with the detailed planning schedules, what the AP found was stunning. The names of at least 114 outsiders who met with Clinton were missing from her calendar, and at least 75 meetings with longtime political donors, Clinton Foundation contributors and corporate and other outside interests were not recorded or omitted from the official calendar.

"Today Is The Appetizer For Monday"

"Monday is where we’re going to see a truer-look at “where the bodies are buried” and a more accurate “price discovery” process than what we’re seeing today (as we’re washing out all the delta one flows which are dwarfing client trading)…lots of discipline being displayed thus far, with low turnovers and folks not chasing.  "

Was This The Deciding Factor For Brits To Vote "Leave"?

While the blame for today's historic moment in the collapse of crony capitalism could be laid at many feet - from Brussels totalitarianism to Cameron and Osborne's scaremongering blowback - one look at the charts and it becomes pretty clear when exactly the inflection point occurred...

Donald Trump’s Entire Financial History In One Short Video

In this motion graphic video, we break down the full story behind Donald Trump’s wealth.  Not only do we examine his major business successes and failures, but we even look back at real estate’s prominent role in the history of the Trump family. To conclude, the video breaks down Trump’s net worth and financial history, while highlighting some of the help he has gotten along the way in building his fortune.

Brexit: Individualism > Nationalism > Globalism

Ludwig von Mises understood that self-determination is the fundamental goal of liberty, of real liberalism. Today's Brexit vote fired a shot heard around the world, to challenge the wisdom of the “globalism is inevitable” narrative. Ultimately, Brexit is not a referendum on trade, immigration, or the technical rules promulgated by the (awful) European Parliament. It is a referendum on nationhood, which is a step away from globalism and closer to individual self-determination.

Brexit & The Fourth Turning

Fourth Turnings never peter out. They intensify to a crescendo of turmoil, chaos, violence, war, and bloodshed. This Fourth Turning intensification just got turned up dramatically. It will eventually be turned up to 11.