Busting Media Myths On Peak Oil

Depending upon whom you speak with, peak oil is either a catastrophe waiting to happen or a far-off concern that has already been solved or will be soon. Frequently, peak oil is referred to as a myth. What you rarely hear is that peak oil is an empirical fact having already occurred in dozens of countries.

DNC Chairwoman "Quarantined" From Convention After Sanders Demands "Someone Be Held Accountable" For Emails

In a shocking turn of events for the new normal, it appears that Bernie Sanders' campaign demands that "someone in the DNC be held accountable" over the leaked emails showing collusion to undermine any Clinton opposition, have been heard. As CNN reports, DNC Chair Debbie Wasserrman Schultz will not speak at or preside over the party's convention this week. As one top Democrat said "she's been quarantined."

Foreign Buyers Continue to Inflate Global Residential Real Estate Bubbles - This Will End Badly

We have frequently talked about the negative future consequences of hot international money chasing “safe” foreign real estate investments. As such, our interests were piqued to discover that the average price paid by Chinese investors in US residential real estate for 2016 continued its meteoric rise to $937k from $832k in 2015, a mere 20% CAGR since 2011 vs. only 4% for the U.S. market overall. They must see something the rest of us are missing.

The Real Message From Asset Inflation

The earliest signs are developing of hyperinflation, more correctly described as a collapse of the purchasing power of all the major government currencies. Extreme one-way bets aside, the overriding reason for valuation disparities is becoming more consistent with the downgrading of cash, rather than a revaluation of assets

Munich Shooter Planned Attack For A Year Germany Alleges; May Use Military During Next "Extreme Situation"

In addition to pivoting away from a story of "radical Islam" striking again, despite objections of a narrative that just does not fit,  Germany is now doubling down on a story of a sick, mentally-troubled individual, who played a lot of first-person shooter video games, who had been bullied by his classmates, and who decided to take out his anger on fellow children in a mass shooting which ended with his suicide.  Most importantly, Germany has now opened the doors to summoning the Bundeswehr  - the military - the next time an "extreme situation" such as this one takes place

Eric Peters: "In A World Awash In Stimulus, How Should You Invest In The Absence Of A Crisis"

"No one knows whether the accumulation of all this extraordinary stimulus is solving our problems, or simply staving off a crisis that will reappear soon after we stop. And with so much of this new money leaking to America and emerging markets, it’s not just a question for Europe and Japan. Which leaves investors facing a dilemma all their own: In a world awash in stimulus, how should you invest in the absence of a crisis?"

Koch Brothers Now Supporting "Often Confused" Hillary Clinton

On July 20th, a Republican U.S. Senator lost his main financial backers for having urged Republicans to vote for Donald Trump instead of for Hillary Clinton. The Koch brothers speak with their words, which can’t be trusted, but they also speak with their money, their investments, which are always honest expressions of their actual beliefs and desires. This time, the Kochs spoke with their money, just a day after that Senator spoke with his words.

All You Need To Know About Germany's "Most Stringent" Gun Ownership Laws

An 18-year-old German-Iranian believed to have acted alone killed nine people in a shooting spree with a pistol at a busy shopping center in Munich on Friday evening. This is just the latest in a spree of 'mass shootings' which have prompted increasingly zealous calls for 'gun control' from President Obama and his supporters. With 2 dead and 16 wounded in Chicago (which is among America's most-gun-controlled cities), we thought some facts about acquiring and owning a gun in Germany (which has the "most stringent" rules around gun control in Europe) might be useful in the forthcoming debate about how this 'mass shooting' epidemic will be solved if we all just hand our guns over.

A Post Western World? A Disturbing Interview With Prof. Harry Redner

The political and economic issues broadly discussed in the media usually revolve around political cycles, terrorism, foreign policy, rising debt levels, sluggish economic performance, academic underachievement, environmental problems, ageing demographics and so forth.  In our view, this all ties into a major cycle of history that has been with us for some time, and which has been gaining traction since the 1990s: the end of "Western Civilization" and the transition towards a globalized society.

France Escalates - Sends Aircraft Carrier To Fight ISIS

Seemingly not satisfied with the domestic blowback from their interventionist-driven Washingtonian foreign policy, Francois Hollande - lagging badly in the polls - has decided to double-down following the recent terror attack in Nice. As Sputnik News reports, France will send artillery to Iraq and its Charles de Gaulle aircraft carrier to assist the US-led coalition’s efforts in Syria and Iraq in the coming months.

A Collision-Course With Crisis: Making The Wrong Choices For The Wrong Reasons

Life is full of examples where folks make bad choices for noble reasons. Not every decision is a winner: sometimes you make the right call, sometimes you don't. That's completely understandable and defensible. Fate is fickle, and no one is 100% right 100% of the time. But what's much harder to condone is when people embrace the wrong decision even when they have ample evidence and comprehension that doing so runs counter to their welfare.

"If You Can't Touch It, You Don't Own It"

The pending Brexit has, not surprisingly, caused a shakeup in the investment world, particularly in the UK. Of particular note is that, recently, asset management firms in Britain began refusing their clients the right to cash out of their mutual funds. Of the £35 billion invested in such funds, just under £20 billion has been affected. The lesson to take away here is that, if you can’t touch it, you don’t own it. Banks and fund management firms can freeze your wealth, so that you can’t access it. Governments and banks can confiscate your wealth. If you don’t have the power to put your hands on your wealth on demand, you don’t own it.

The Market For Lemons, The Market For Bullshit, And The Great Cascading Credence Crash Of 2016

The underlying problem is, I think, a very strange one. But it’s a risk faced by any society that both undergoes rapid technological change, and contains organized interest groups. (Formal or informal.) Something really bad is happening to all our bullshit. In fact, I’ve begun to worry that there’s actually a sort of crash or cascading failure going on in the bullshit market. If there is, I think it’s driven, as previous bullshit crashes were, by changing technology.

Goldman: The Last Two Times P/E Multiples Expanded This Much, The Result Was A Historic Crash

"The current P/E expansion cycle is now one of the largest in history. Since September 2011, S&P 500 forward P/E has grown by 75% (from 10x to 18x). This expansion has only been surpassed twice since 1976, when the multiple rose by 111% from 1984-1987 (ending with the 22% Black Monday collapse) and by 115% from 1994-1999 (ending with the Tech Bubble pop)." - Goldman Sachs

The Essence Of Trump's Appeal To The Flyover Zone: "We Are Not Winning Anymore"

...Massive debts, no good jobs, faltering productivity, soaring entitlements, declining net investment and drastically shrinking household incomes add up to an unprecedented assault on America’s vaunted middle class. In fact, the middle class is shrinking markedly as an empirical matter and fading rapidly as an aspirational possibility. It is profoundly misguided Wall Street/Washington policy regime that has given rise to this massive economic failure. For more than three decades they have sown the wind. Trump is the whirlwind they are now reaping...

In First "Emergency" Decree, Erdogan Seizes Thousands Of Hospitals, Schools, Charities

In his first "emergency powers" decree, published by the Anadolu state news agency, Erdogan authorised the closure of 1,043 private schools, 1,229 charities and foundations, 19 trade unions, 15 universities and 35 hospitals over suspected links to the Gulen movement. The government also announced it would seize the properties of all these schools, universities and private institutions.