"The Swarm Effect": Every Trader Today Has Just Two Choices

"...one faces a choice between two scenarios: 1) A small probability of losing all of your money all at once at an undisclosed time in the future, or 2) A high probability of gradually losing small amounts over an indefinitely long period of time, keeping in mind that persistent small losses over an indefinite time period could lead to large cumulative losses."

Mueller Instructs White House To Preserve All Records On Jr.'s Meeting With Russian Lawyer

"As you are aware the Special Counsel's office is investigating the Russian government's efforts to interfere in the 2016 presidential election, including any links or coordination between the Russian government and individuals associated with the campaign of Donald Trump. Information concerning the June 2016 meeting between Donald J Trump Jr and Natalia Veselnitskaya is relevant to the investigation."

Future-Hype Arrives Right On Cue... Again

This week we have no finer example for one to ponder than Mr. Musk himself in what can only be deemed as one of the most blatant examples of what I’ve coined “future-hype.”

Kunstler Fears "Violent Revolt" As "Soft Coup" Against Trump Looms

"The whole nauseating spectacle will be attended by violent popular revolt of region against region and tribe against tribe in a great civil explosion of long-suppressed angst...Too many nasty forces are vectoring in on the scene to overthrow the dream state America has been languishing in."

"May The Bursting Of The Student Loan Bubble Commence!"

"While the collapse of the student loan bubble may be the catalyst for a general financial downturn and will certainly be the cause of tremendous social pain and dislocation, it will, nevertheless, be a necessary prerequisite if America and, for that matter, the Western world is to ever break the grip of leftist ideology which rules it. May the bursting of the student loan bubble commence!"

Is Iran In Our Gun Sights Now?

"Who else wants a U.S. war with Iran, besides ISIS? Unfortunately, their number is legion: Saudis, Israelis, neocons and their think tanks, websites and magazines, hawks in both parties on Capitol Hill, democracy crusaders, and many in the Pentagon who want to deliver payback for what the Iranian-backed Shiite militias did to us in Iraq. President Trump is key."

El-Erian Exposes The Upside And Downside Of Liquidity-Driven Markets

"The markets' overall sense of 'goldilocks' - not too hot, not too cold - explains much of the gap between buoyant stock indexes and lagging economic and policy fundamentals...What remains more elusive, however, is confidence that this will end up at an enjoyable destination."

Congress’ Radical Plan To End Illegal Money

"Perhaps they may unwittingly do us all a favor and fail to raise the debt ceiling. Could the dopes in Congress hatch a more radical plan to put an end to the government’s illegal money? Only by accident..."

No More "Cash On The Sidelines": Private Client Cash Levels Drop To Record Low

According to the latest BofA flow show report, private client cash - i.e., high net worth individuals who still allocate capital to single-stocks and ETFs on a discretionary basis - is now at a record low, taking out the cash levels observed in the period just prior to the last market peak in 2007.