Washington's "Good Terrorists, Bad Terrorists" Policy In The Middle East

"...More to the point, raising funds for proxy wars from the Gulf Arab States allows the Western executives the freedom to evade congressional scrutiny; and the benefit of buying weapons from the unregulated arms’ markets of the Eastern Europe is that such weapons cannot be traced back to the Western capitals; and using jihadist proxies to achieve strategic objectives has the advantage of taking the plea of “plausible deniability” if the strategy backfires, which it often does."

U.S. May Halt Oil Imports From Venezuela

The Trump administration is mulling over sanctions against senior Venezuelan government officials, and additional measures could include sanctions against the country’s oil industry, such as halting imports into the U.S., according to senior Washington officials who spoke to media.

When Does A Home Become A Prison?

Rising mortgage rates and the fear of not being able to find something affordable to buy is imprisoning homeowners and causing the inventory shortages that are seen in practically every market across the country. So, what gives in a market short of supply relative to demand? Prices.

Rare Earth Mania And China/US Trade Spat 2.0?

We doubt that many have heard of it, or know what it’s used for, but the price of Praseodymium-Neodymium - a rare earth element - has been on a tear, up 43% ytd. And, if this is the start of another "rare earth" frenzy like that seen in 2011, it is about to go much, much higher.

The Dangerous Season Begins Now

The period of seasonal weakness in the Russell 2000 Index is highlighted in dark blue on the chart. It begins on July 15 and ends on October 27.

AMZN Slides After Hours On Report Of FTC Probe

Just last week we noted that the one entity that could 'out-Amazon' Amazon - the US government - was beginning to ask if Bezos' company was too big? Tonight we got our first glimpse as the FTC sent a shot across the world's 2nd richest man's bow, probing allegations of illegal discounting.

The New "Supply-Side Economics" Fueling Asset Bubbles

No, we are not talking about President Reagan’s supply-side economics... We now have a new kind of supply-side economics, just the opposite of Reagan’s, which effectively restricts, removes and shifts the supply curve to the left, increasing prices and fueling asset bubbles in risk-free bonds, stocks, and housing.

Stockman Warns Of The Imperial City's Fiscal Waterloo

"The stand by Senators Lee and Moran was much bigger than putting the latest iteration of McConnell-Care out of its misery. The move rang the bell loud and clear that the Imperial City has become fiscally ungovernable. That means there is a chamber of horrors coming. With it, an endless political and fiscal crisis that will dominate Washington for years to come. Its cause is deep and structural."

"Probably Nothing..."

Yesterday we warned of the growing anxiety in short-term Treasury-Bill markets over the looming debt-ceiling. Today, the tension has worsened with the 10/19 bill now up a shocking 13bps in 3 days leaving the curve extremely inverted around the potential debt-ceiling deadline.