“At a fundamental level you can think of things as a fight between expansionist and extinctionist philosophies...”

"It’s fair to say that foreign investors are nervous about the heightened political risk that the situation in France brings. The market still has a lot of difficulty pricing in these sorts of events."

"The failure of the three cable systems has seriously affected the..." 

SPX does not care about anything these days.

Real rates have room to decline as macro risks rise despite sticky inflation, echoing the 1970s. Commodities—including core crypto assets—are part of the all-weather wallet.

Bring your plastic, or be prepared to pay up...

Removing road safety signs because of a few disturbed people’s hurt feelings...

These judges are out of control...

If this is the bounce....

"Wait until you hear what some of the children we found had to say." 

In decades-long first, the NDAA bill passed today would automatically register all males age 18-26....

India might conclude that Japan was put up to this by its American patron if it comes to pass, which could then complicate their multilateral efforts to manage China’s rise...

The larger rollout of FSD in China will be a golden opportunity... 

In most scenarios, the fiscal outlook is likely to deteriorate.

“It’s striking to see the market share of Russian gas and [liquefied natural gas] inch higher in Europe after all we have been through, and all the efforts made to decouple and de-risk energy supply,”

The mutiny has arisen because many in the West see only too clearly that the western ruling structure is an illiberal mechanical ‘control system'...

AI “. . . will alter the prospects for a free society, even free will... and... attempt to seed the idea human-only decision-making will become a rarity and, in time, cease to exist.”

SPX is officially back in “overbought” territory with RSI at 73 but only 49% of S&P co’s are > 50dma. RTY weakness continues to rejuvenate softening growth concerns judging by the uptick in client inbounds to end the week.