Joe Lieberman "No Longer Being Considered" For FBI Director: Report

Just days after it was reported that the frontrunner to replace James Comey as head of the FBI was career democrat Joe Lieberman, it now appears that Trump has gotten cold feet about installing a career democrat as head of the agency and according to CNN the team tasked by Trump with finding a new director for the FBI "is resetting its search" with Reuters reporting that according to CNN, Joe Lieberman is "no longer being considered for FBI director."

Frontrunning: May 24

  • Trump Meets With Pope Francis After Policy Clashes (WSJ)
  • Fed Minutes to Offer Clues on Debate Over Path of Rate Increases (WSJ)
  • Manchester bomber had 'proven' links to Islamic State (Reuters)
  • U.K. Chides U.S. for Leaking Manchester Bombing Probe Details (BBG)
  • China Handed First Moody's Downgrade Since 1989 on Debt Risk (BBG)

ECB Warns Of "Excessive Exuberance" In House Prices; Sees Financial Instability Due To Higher Yields

In an unexpected two-part warning from the ECB, the European Central Bank warned of “excessive exuberance” in some European housing markets, driven by offshore buyers, that could spread to other areas in a “ripple effect.” Separately, the ECB also said "debt-sustainability concerns" have risen in the past six months amid a potential increase in yields and political uncertainty in some countries.

China Downgrade Forgotten As Asia Closes Higher, Futures Flat Ahead Of Fed Minutes

Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."

Yuan Tumbles As Moody's Downgrades China To A1, Warns On Worsening Debt Outlook

Offshore Yuan tumbled as Moody's cut China's credit rating to A1 from Aa3, saying that the outlook for the country’s financial strength will worsen, with debt rising and economic growth slowing. This leaves the world's hoped-for reflation engine rated below Estonia, Qatar, and South Korea and on par with Slovakia and Japan.

Fidelity Is Mining Bitcoin, CEO Abigail Johnson Admits

In what bitcoin geeks undoubtedly interpreted as a sign of bitcoin’s renewed relevance now that its price is at all-time highs, Fidelity CEO Abigail Johnson told CoinDesk’s Consensus conference that her company is now in the business of mining bitcoin.

The Republic Has Fallen: The Deep State's Plot To Take Over America Has Succeeded

The coup d’etat has been successful. The Deep State - a.k.a. the police state, a.k.a. the military industrial complex - has taken over. The American system of representative government has been overthrown by a profit-driven, militaristic corporate state bent on total control and global domination through the imposition of martial law here at home and by fomenting wars abroad.

Did Trump's Islam Speech In Saudi Arabia Pave The Way For America's Next Big War

Selling a war with Iran to the American public may be difficult considering the Islamic nation twice elected a reformist who is open to making diplomatic deals with the United States. However, selling a war that will take place inside Syria is somewhat less problematic, even if that war is against the Syrian government, as the American public is easily manipulated by Assad’s alleged war crimes. As Iran is Syria’s closest ally, it will be easily drawn into a confrontation.