S&P Sees A "Crisis Of Confidence Around The Globe" As Corporate Debt Hits $75 Trillion In 2020

"A worst-case scenario would be a series of major negative surprises sparking a crisis of confidence around the globe. These unforeseen events could quickly destabilize the market, pushing investors and lenders to exit riskier positions (a ’crexit’ scenario). If mishandled, this could result in credit growth collapsing as it did during the global financial crisis.”

Milo Yiannopoulos Responds To Twitter Ban

"Twitter is perfectly happy to host ISIS, to host death threats against Donald Trump supporters and they do nothing in any of these cases. But if you make a joke about a feminist, or if you dislike the new Ghostbusters movie, or if you have the audacity to dislike the work in Hollywood of someone who happens to be black, or happens to be a woman and you get suspended, that's absurd."

VIX Hits 11 Handle - Crashes At Fastest Pace In History

In the 17 trading days since Brexit, VIX has fallen 15 of them plunging from almost 27 immediately after the British vote to 11.4 lows this morning - the lowest since August 2014. This collapse is the fastest in the 26 year history of VIX.

100 Jihadis Enter Syria From Turkey Each Week, French Intelligence Finds

"According to the Direction for Military Intelligence (DRM) in Paris, each week, about 100 foreigners continue to cross Turkey into Syria to join Islamic State," French newspaper Le Figaro reported Wednesday, according to Reuters.  The estimate is likely to raise scrutiny on Turkey's effectiveness as a partner in the fight against ISIS, in particular following a failed military coup attempt last week.

"The World's Central Banks Are Making A Big Mistake"

Debt is future consumption brought forward. Once debt is incurred, consumption that might have happened in the future won’t happen. And it should come as no surprise that at a certain debt level, growth and income begin to diminish. That is exactly what we are seeing in the real world.

Papa John's Upgraded On Expectation Civil Unrest, Rioting Will Lead To More Pizza Deliveries

Who says that rioting is bad for business. According to KeyBanc analysts, the recent surge in civil unrest is just what Papa John's ordered, because the catalyst used to justify an upgrade of the pizza chain to overweight, is that consumers - worried about terrorism, political and civil unrest - will choose to stay home and order pizza rather than head out for a meal.

Donald Trump Rejects Melania Speech Writer's Resignation

Following calls yesterday for the Trump campaign to "fire someone," over the Melania-speech-plagiarism debacle, Meredith McIver - the Trump staff-writer responsible for the 'passages' from Michelle Obama's speech - has offered her resignation... but Donald Trump rejected it as an "innocent mistake.". McIver's statement notes "no harm was meant" to Michelle Obama.

The Oddly "Inconsistent" Event That Has Turkey Wondering If The Entire Coup Was Staged

According to the official narrative, there was an attack on Saturday morning by helicopter-borne commandos against a resort hotel in Marmaris. Erdogan was meant to be staying there. But the attack took place nearly an hour after every news channel in Turkey beamed images of Mr Erdogan addressing the nation from the airport in Istanbul, some 750km away.

Prominent Journalist Killed In Ukraine When Car Bomb Explodes In Broad Daylight

In a stark reminder of how precarious the situation remains in Ukraine two years after a coup took place, which ushered in a new-pro Western government and which the western democracies had no objections against, earlier today a prominent journalist working for the online investigative website Ukrayinska Pravda was killed by a car bomb in central Kiev early on Wednesday morning, in what President Petro Poroshenko said was an attempt to destabilize Ukraine.

The Helicopter Has Already Been Tested - And It Failed Spectacularly

Most of what passes for modern monetary policy is nothing more than one assumption piled upon another (and then another, and so on). Taken for granted for so long, rarely are these unproven precepts ever challenged to justify themselves to the minimal standard of internal consistency, let alone prove discrete validity by parts. The latest is “helicopter money”, another sham in a long line of them proffered by at least one central bank today because it knows, as the others, nothing they have done has worked.

HSBC Global Head Of FX Cash Trading Arrested At JFK Airport

A historic event took place moments ago when Mark Johnson, the global head of cash FX at HSBC was arrested at JFK airport for his role in a "conspiracy to rig currency benchmarks", and specifically for frontrunning customer orders. He is the first person charged by the US in the ongoing FX rigging probe.

Globalization's Few Winners And Many Losers

Globalization is presented as a win-win solution: the developed countries get cheaper goods and the developing world get the benefits of industrialization. But now a new study, Poorer Than Their Parents? Flat or Falling Incomes in Advanced Economies, finds that globalization has been a bad deal for 80% of the people in developed economies, as their income and wealth has stagnated or declined.

S&P Downgrades Turkey To BB, Outlook Negative; Lira Tumbles To New All Time Low

"Following the attempted coup on July 15, Turkey's political landscape has fragmented further. We believe this will undermine Turkey's investment environment, growth, and capital inflows into its externally leveraged economy. In the aftermath of the failed coup, we believe that the risks to Turkey's ability to roll over its external debt have increased."