"The System Has No Chance Of Regaining Stability"

"I see people saying the system is unstable. Fine, as long as they realize it has no chance of regaining stability, not with its present components. There will have to be a big clean-up. But it will be messy. A very limited number of people, with all of their minions, control the entire now unstable edifice, and they’ll fight tooth and nail to keep their power. Nevertheless, they’ll lose."

The Odious Versus The Tedious

For my money, the Ruskies should get the Nobel Peace Prize if they were behind the email release. What higher service to democracy than to expose the anti-democratic workings of the party that affects to call itself Democratic?

The Real Reason The "Rich Get Richer"

The new money substitute, which we’ve lived with for 45 years, is a fraud. A dollar in 1971 is worth about 17 cents today. In other words, it has lost roughly 80% of its buying power. The phony dollar has misled an entire generation into spending money it didn’t really have... doubling or tripling its debt-to-earnings ratio, and shifting more and more of its real wealth to the least productive people – the Parasitocracy.

Yen Tumbles On Spurious Nikkei Headline, Stocks Shrug

When you asbolutely, positively need to get stocks higher, unleash a spurious Nikkei headline (at 220am local time)... "Japan to Double Planned Spending in Stimulus Package: Nikkei" and sure enough USDJPY spikes back above 106.00... but S&P futures algos are ignoring it for now...

Was Trump Right? Leaked DNC Email Shines Unexpected Light On Cruz's "Militant" Father

In yet another awkward moment for Democratic talking point providers and Trump-deniers, Wikileaks' leaked DNC emails turned up an interesting factual confirmation of Trump's 'conspiracy theory' questions about Ted Cruz's father's background... "I will note that Cruz's father was in fact a militant who fought the Batista regime (which Fidel Castro defeated) and it would not be unusual for him to be caught up in the ugly web of Cuban militants with questionable histories."

Is Being Unemployed Just "Bad Luck"? (Spoiler Alert: Don't Be Stupid!)

Washington Post writer Matt O’Brien proposes Getting Stuck Without a Job is Mostly a Matter of Bad Luck. That notion is ridiculous. While there may be instances of 'bad luck', in general, the employees with the weakest skills were the first to be let go and the last to be rehired.

Silver Spikes Back Into Green After Overnight Slump

Silver was monkey-hammered lower as Japan and China opened overnight, bashed back below $19.50, and was accelerating lower ahead of the US Open when the fixing struck and suddenly Silver was panic-bid... on heavy volume... back into the green for the day...

FBI Launches Probe Of 'Putin/Trump' DNC Cyber-Attack

Following the release of greatly embarrassing emails that are forcing Hillary to lose control of the narrative, Politico reports, The Federal Bureau of Investigation has launched a probe into the hacking of the Democratic National Committee's emails. We are sure Director Comey will be closely watching and AG Lynch will once again take his word as gospel as somehow, we suspect, a narrative of Trump-Putin partnership will be created (or at the very least questions raised).

"This Scares The Hell Out Of Me" - ISIS Claims Responsibility For First German Suicide Bombing In Years

The suicide bomber who blew himself up outside a German concert, injuring 15, had declared allegiance to the leader of Islamic State, Bavarian Interior Minister Joachim Herrmann said. "A video with a corresponding threat of an attack made by the assailant was found on his cellphone, in which he declares in Arabic…in the name of Allah allegiance to Abu Bakr al-Baghdadi, a known Islamist leader, and threatens vengeance against Germans because they stand in Islam’s way."

Michael Moore: 5 Reasons Why Trump Will Win

"I am sorry to be the bearer of bad news, but I gave it to you straight last summer when I told you that Donald Trump would be the Republican nominee for president. And now I have even more awful, depressing news for you: Donald J. Trump is going to win in November. This wretched, ignorant, dangerous part-time clown and full time sociopath is going to be our next president. Here's why..."

Loonie Hits 4-Month Lows As Oil Sinks

The Canadian Dollar has now dropped 5 straight days, breaking above 1.3200 to the USD - its weakest in 4 months - as FX and equity markets catch up to oil's recent demise...

Caterpillar Retail Sales Decline For 43 Consecutive Months

if one looks only at trends revealed by CAT's retail sales the global economy has been mired not in a recession but an unprecedented depression, one which has now lasted some 43 months. That's how long CAT has gone without a single positive month in global retail sales, well over double the duration of the acute collapse in demand following the financial crisis.

"Don't Panic" German Minister Urges Population, Claims Surge In Attacks Has "No Link To Merkel Refugee Policy"

Pouring cold water on speculation that Merkel may take responsibility for the past week's events,  German Interior Minister Thomas de Maiziere said that "the attacks are unrelated to Merkel's refugee policy." He urged people "not to panic." And to help them do just that, the interior minister said that he has ordered increased security presence at airports, train stations and other public places, adding that the "German army can play a domestic role in special cases." Cases such as these.

Dallas Fed Outlook Contracts For 19th Straight Month With Wages Crashing To Sept 2013 Lows

For the 19th week in a row, it appears low oil prices are not "unequivocally good" for the Dallas Fed region. Despite surging from -18.3 to -1.8 (beating expectations by 3 standard deviations) we note that wages tumbled on the month, as did prices received. The biggest driver of the bounce appears to be 'hope' about the future new orders growth rate (20.3 to 34.7)...