Archive - Jun 18, 2015 - Story

Update: Dylann Roof, the suspect identified as the Charleston church shooter has been caught by authorities in Shelby, North Carolina

The FBI has identified the suspect in the shooting that killed 9 at a historic black church in Charleston, South Carolina on Wednesday evening. One eyewitness has offered a chilling first-hand account.

If there is a mass shooting event anywhere in the US, it is usually followed promptly thereafter by a presidential statement. Today is no difference.

"Don't fight the Fed," unless The Fed says "sell." That appears to be the message loud and clear from an absolutely exuberant Biotech bubble that is now up over 75% from Janet Yellen's "stretched valuations" warning last year...

As CNBC is very careful to explain "it's different this time"...

This is the best post-FOMC performance for the precious metals complex since June 2014... with Gold breaking above $1200..

Presented with little comment side to note that the ramp on restructuring rumors has not diminished as the denials pile up. The US cash session open was the strongest since late 2011 as the headline hockey continues...

Just imagine the exuberance if ORCL was still in the Nasdaq...

After 6 months of dismal data, Philly Fed bounced back in June. Printing at 15.2 against expectations of 8.17. this is the biggest beat of the year but remains below levels seen over a year ago. Tis will be celebrated we are sure as heralded Yellen's big comeback but under the covers, employment tumbled and Prices-Paid exploded higher by the most since 1973...crushing margins - hardly a sign of strength.

Bring on those rate hikes and the economic "recovery."

"Both the US and China have a vital interest in reaching an understanding because the alternative is so unpalatable," Soros wrote in an article for the New York Review of Books, with the danger imminent if Chinese economic reforms fail forcing President Xi Jinping to "foster some external conflicts to keep the country united and maintain himself in power." These "conflicts" would present themselves in the form of a Sino-Russo alliance which could draw the entire world into war.

You know things are illiquid, turmoiling, insane, entirely non-human odd, when the world's reserve currency flash-crashes on a regular basis...

In conclusion: another month in which the Fed's trillions in reserves end up almost entirely in the stock market and NYC penthouses, with little trickling down into clothes and other "core" items, even as beef prices and asking rent hit record highs month after month.

Initial Jobless Claims dropped 12k this week to 267k - with no unusual factors - pushing the data back towards its lowest since 1973.

We are more convinced than ever that the FOMC is simply trying to scare a recovery into existence. The Fed is going to raise rates (or, in actuality, make you think it wants to so bad that you think they actually might) in order to signal a strong economy, in order to get people acting like a strong economy, in order to create a strong economy. In June 2015, the commands of the central planners are almost openly mocking common sense. "No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"

Police have released photos of a white male they say is a suspect in the shooting that took the lives of nine people at a historic black church in Charleston, South Carolina on Wednesday evening.