In "Victory For Eurosceptics" British PM Will Begin Brexit Negotiations Without Parliamentary Vote

In what the Telegraph dubs a victory for Eurosceptics, the conservative newspaper reported overnight that Britain's new Prime Minister, Theresa May, will not hold a parliamentary vote on Brexit before formally triggering Britain's withdrawal from the European Union. "Her decision will come as a blow to Remain campaigners, who had been hoping to use Parliament to delay or halt Brexit entirely."

The Number One Factor Influencing Fed Monetary Policy

In short, the economic model of the second half of the 20th century is over.  Increased issuances of debt no longer translate into increased economic growth.  Instead, they produce wild asset price swings, casino style speculation, and epic bubbles and busts.  Nonetheless, the technocrats continue offering up yesterday’s solutions with unabashed certainty.

Recession Odds Spike To 37%, JPM Calculates, Highest Yet For This Cycle

While not as dire as the recent analysis by Deutsche Bank, overnight JPM released its latest recession probability analysis, and - somewhat unexpectedly following the last two stellar job reports and a full court political press that the recovery has rarely been stronger going into the election - now sees a 37% chance of a recession in the next 12 months. This is the highest recession probability calculated by Jamie Dimon's bank during the current economic cycle, and matches the odds first laid out in early July.

What Went Wrong Yesterday

The answer to ‘How do you stimulate the economy when there are no more conventional rate or unconventional QE/forward guidance tools?’ is ‘Broaden the set of assets that you can buy”. And while Congress may be unwilling when the unemployment rate is under 5%, they may be more willing at 7% if a recession is underway….and this means they can continue to do slow and unsteady hikes, based on the current framework.

Introducing America's Winningest Political Candidate: "Lesser Evil"

The political duopoly in America simply does not work; nor does it offer hope for a future cohesive society. It may have reasonably worked in the past because of our very gifted, blessed economic advantages... but those advantages are either gone or exiting fast. A corporate media that would force bringing Greens and Libertarians to the presidential debates in 2016 would forever find its penitential-redeeming place in America’s history.

Mugabe Orders Arrest Of "Rats We Call Athletes" After Zimbabwe Wins No Olympic Medals

We have wasted the country’s money on these rats we call athletes. If you are not ready to sacrifice and win even copper or brass medals (referring the 4th and 5th positions) why do you go to waste our money... If we needed people to just go to Brazil to sing our national anthem and hoist our flag, we would have sent some of the beautiful girls and handsome guys from University of Zimbabwe to represent us."

Bill Gross: Yellen's Economy "May Never Walk Normally Again, This Is Not Capitalism"

"She is opening the door to creating even greater asset bubbles as have the BOJ and ECB and SNB by purchasing corporate bonds and stocks," Gross said of Yellen's hint that she may buy even more assets: "This is not capitalism. This is providing a walker or a wheelchair for an ailing economy. It may never walk normally again if monetary policy continues in this direction."

The Real Threat... Violence From The Left

The meme that somehow Trump’s supporters are not just armed but prone to violence is one of those ideas that, if explored with even a small corner of the cranium, would be revealed as utter nonsense.