The Road To Hell Was Paved With Obama Cronyism

It is absolutely imperative to see Trump as a symptom of a sick and broken system as opposed to the root cause of anything. The corporate media and legions of mourning Hillary cultists continue to present the Trump threat in extraordinarily simplistic and unhelpful terms. They act as if he’s the head of some evil snake, and that disposing of him as an individual will get America back on track. This couldn’t be more wrong.

Giant Japanese Conglomerate Flash-Crashes 20% At Open

Tosoh Corporation, the giant Japanese petrochemical conglomerate, collapsed over 20% to below JPY800 shortly after the Japanese open, on volume eleven times average as traders scrambled to find out the catalyst. There was no news of course - just another flash-crash in a world of limited liquidity at the margin (where a small options-arb fund can drive the US equity market for a week).

Google Sues Uber For Stealing Self-Driving Car "Secret Recipe"

It's been a tough few weeks for Uber CEO Travis Kalanick. After the #DeleteUber liberal backlash, and having caved to leftists by quitting Trump's advisory council, his company faces investigation and has seen dozens quit this week after sexual harassment allegations. However, things just got turned up to '11' as Alphabet's self-driving car business, Waymo, has sued Uber for stealing trade secrets in the development of autonomous cars.

When Was America's Peak Wealth?

"...was America at its richest right before or right after Nixon took the country off the gold standard in 1971?"

Traders Throw In The Towel On March Rate Hike

As we previously noted, while speculatrs had been reducing their shorts in Treasury futures, they had added to Eurodollar shorts - pushing their bets on Fed rate hikes to record highs. However, as Bloomberg notes, signals are starting to emerge that traders who built up that heavy short, or hawkish, eurodollar base since the start of 2016 could be starting to throw in the towel on a March Fed rate hike.

China Prepares For "Regime Collapse" In North Korea

The noose around Kim Jong-Un is getting tighter: asked whether China had a contingency plan for a North Korean collapse, defence ministry spokesman Ren Guoqiang said Beijing has maintained its usual policy towards Pyongyang, and urged the “relevant parties to refrain from any actions that will escalate tensions”.

DOJ Reverses Obama-Era Decision To Phase Out Private Prisons

Moments ago, US Attorney General Jeff Sessions reversed an Obama-era memo to phase out the use of private prisons, signalling his support for federal use of such facilities and advising that the Bureau of Prisons will "return to its previous approach to the use of private prisons."

Are Rate Hikes Bad For Gold?

Gold does not necessarily rise and fall with interest rates, jewelry demand in India, or any other widely believed nonsense. Rather, gold has moved in conjunction with perceptions as to whether or not the Fed and central banks have everything under control.