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.

Money Supply Growth Drops To Lowest Since Lehman

Growth in the supply of US dollars fell again in May, this time to a 105-month low of 5.4 percent. The last time the money supply grew at a smaller rate was during September 2008 — at a rate of 5.2 percent.

Junk Bonds Are Finally Starting To Care About Oil

"The recent price action in the oil market and the stronger response of the HY Energy sector has prompted many market participants to question the ability of the broader HY market to continue to resist lower oil prices. In our view, the bar remains high for oil prices to become the main directional driver of HY spreads but the risk has risen."