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John Boehner Calls Ted Cruz "A Miserable Son Of A Bitch, Lucifer In The Flesh"

Is the establishment's fervent hatred of Donald Trump starting a U-turn? It's still too early to know, however at least one core Republican, former house speaker John Boehner, has made it very clear he is not a fan of Ted Cruz. At all. So much so that according to NBC the former Republican House Speaker told an audience at Stanford University Wednesday that the Texas senator is "Lucifer in the flesh" and a "miserable son of a bitch...  I have never worked with a more miserable son of a bitch in my life."


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SEC Begins Crack Down On Non-GAAP Accounting Gimmicks

Having railed for years against the accounting gimmickry known as non-GAAP, with both the WSJ, AP and even Warren Buffett joining the vocal outcry in recent years, things may finally be changing. According to Dow Jones, the SEC is finally stepping up its scrutiny of companies' "homegrown earnings measures, signaling it plans to target firms that inflate their sales results and employ customized metrics that stray too far from accounting rules."


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Hillary Will Be The Least Of Your Worries - America Has Economic Diarrhea

According to the National Bureau of Economic Research (NBER), the official recession arbiter, the US economy is currently at its fourth longest expansion in history. By the sheer nature of a capitalistic society with its inherent cyclicality it is a safe bet that a new economic recession will hit in the not too distant future. We have argued since June last year that the next recession is imminent and we now feel increasingly confident that our prediction will come true before November’s Presidential Election. Even mainstream forecasters seem to jump on the increasingly likely recession-bandwagon.


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Amazon Soars After Smashing Expectations On Surge In Cloud Profits

Amazon has done it again. Moments ago Jeff Bezos' company reported Q1 earnings that blew away expectations, when it printed revenues of $29.13 billion, well above the expected $28 billion, generating EPS of $1.07 almost double the expected $0.57.


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"No Brainer" - Carl Icahn Dumps Entire Stake Of AAPL

And just like that the "no brainer" party's over. Remember when in January 2014 Carl Icahn laid out his extensive thesis on why being long AAPL is the best investment out there?  Or when a little over a year later, hoping for even more stock buybacks (even as he was decrying short term activism) he boosted his price target on AAPL to $240?  All that is now over and moments ago Carl Icahn admitted that the hedge fund hotel holding AAPL stocks, which consisted of 163 hedge funds as of December 31, has one less member, and he has sold his entire Apple position.


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Earnings "Beats" & The Warning In Today's GDP Data

"The riskiest things are now stocks and other investments perceived to be safe. One of the most popular categories in US investing are low volatility stock funds. But there is no such thing! If you think that a stock like Johnson & Johnson can’t go down, you’re wrong.. If you are waiting for the confirmation of a recession before taking actions to protect your investment portfolio, it will likely be far too late.”


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Focused On The Wrong End Of Oil

The front end of the oil price complex continues to get all the attention because it seems to further the more optimistic narrative. It is the back end, however, that is most significant. The nearer maturities of the futures curve reflect more the funding environment than the fundamental view of oil and the economy. The lack of continued liquidation has “allowed” investors (and speculators who are no longer, apparently, deserving of mainstream scorn) to bid up the front, but the outer years remain flat and unimpressed.


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Suspect Dressed In Panda Suit Shot After Entering Fox Baltimore Studio And Claiming To Have A Bomb

No mass shooting incident today, but moments ago BNO news reported that the stuiod of Fox 45, also known as FOX Baltimore, has been evacuated after a man dressed in a hedgehog suit entered the building and claimed to have a bomb strapped to his chest.


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The Enabler & The Lifeline: Diamond Resorts & Quorum FCU

Diamond has a good thing going with Quorum: they get access to ample credit, especially for those applicants with weaker credit profiles. From a Diamond investor's perspective, it would be a shame if anything changed. The post credit-crisis strategy of focusing on esoteric lending opportunities like VOI (as well as taxi medallions, hearing aids and fertility treatments) to generate revenues and membership has run into both a broader slowdown in the consumer credit cycle as well as more specific problems, like an increasingly worried regulator.


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An Inconvenient Truth For Equity Bulls

Yes we know "Facebook crushed expectations" but...


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WTI Crude Soars To $46 - Highest In 5 Months

The panic-buying continues in the crude complex. Oil prices are up for the 3rd day in a row, trading up to $46 for the first time since December 4th 2015. Despite continued growth in inventories and worse than expected economic growth, it appears speculative traders in black gold just can't get enough...


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As Oil Rises, US Shale Companies Have Begun Increasing Oil Production

With the price of oil creeping ever higher, mothballed shale oil production is quietly going back online.


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Trump Ties Hillary In Latest National Poll

And just like that, they are tied. In the latest poll from Rasmussen Reports, a national telephone survey of Likely U.S. Voters finds Trump and Clinton tied at 38% each.


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Krugman's Solution Is "The Fiscal Equivalent Of War" - Japan Agrees

In the wake of the Bank of Japan (BoJ) decision to stand pat, Japan looks to be in ever more desperate straits, given the growing danger of sliding into its second recession since Abenomics was introduced. Such a recession would be the nail in the coffin of Abenomics, launched with high hopes and much fanfare three years ago. It made sense, therefore, for Prime Minister Shinzo Abe to seek the advice of Paul Krugman, who has been one of the chief cheerleaders for Abenomics, in a private meeting last month meant to lay the groundwork for the G7 Summit at Ise-Shima next month.


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