B+

Sometimes you just have to stand in awe at the level of corruption and incompetence in government.

• US dollar sell-off: Nov’15 Global FMS shows “long dollar” most crowded trade
• EM rally: China deval complicates rally but humiliated EM ripe for bounce as Fed hike expectations peak
• Positioning less "bearish": risk rally is "narrow" and vulnerable to quick profit-taking in event-rich December: deteriorating RSP/SPY ratio

Futures are modestly higher in early trading having tracked the USDJPY once again almost tick for tick, with the carry trade of choice rising to 123 shortly after Mario Draghi's latest speech pushed the dollar strong initially only to see most gains promptly evaporate against both the Yen and the Euro. European shares are likewise little changed, after gaining earlier, while Asian stocks rise; oil also advanced in early trading only to drop to its lowest overnight level moments ago, a few dimes over $40, with aluminum and copper both posting modest increases.

Having suffered a little recently on the heels of retailer concerns, Nike - the best performer in The Dow this year - is surging back towards all-time record highs after unleashing a new share buyback program (upping the limit from $8bn to $12bn), a stock split and a dividend boost.

Moments ago, the in a 241-185 vote, the House passed passed H.R. 3189, aka  Fed Oversight Reform and Modernization Act. The bill would make changes to how the Fed conducts monetary policy and regulatory activities and would direct the Fed to take a rules-based approach to interest rate decisions; require audits of more Fed functions such as monetary policy; and place restrictions on its emergency lending powers. In other words, everything that the banks that are direct and indirect stakeholders in the Fed would fight to the death to prevent.

Even if nothing else doomed the status quo, the widening gap between household incomes and costs will push the corrupt contraption over the cliff by itself. The status quo (whatever you wish to call it) requires "growth" to sustain itself--growth in consumption, spending, sales, debt, asset valuations, profits and of course taxes, and ultimately all of those "growths" depend on household incomes. Incomes even for the most highly educated workers are stagnating..

While await a full blown European version of the Patriot Act, we can say that the second part of the forecast just came true, because this morning The European Commission announced it had adopted a package of measures to strengthen control of firearms across the European Union and meant simply to make it "difficult to acquire firearms."

Charlie Sheen’s announcement that he is HIV positive has created a huge uproar as critics attack him from every direction, but the truth is that Charlie Sheen is simply a reflection of our society as a whole.  You see, the truth is that it isn’t just big Hollywood stars that are engaged in risky sexual behavior.  According to the CDC, there are 110 million cases of sexually-transmitted disease in America today, and another 20 million STD cases are added to that total every year.  The United States has the highest STD infection rate in the entire industrialized world, and more than half of all Americans will have a sexually-transmitted disease at some point during their lives..."the increases are quite alarming." 

Sure, the stock market had a great October with the Dow Jones Industrial Average jumping by 8.5%, but the disconnect between Wall Street and Main Street is too stark to ignore, and the Federal Reserve is about to pop the easy-money financial bubble.

The just concluded 13-F bonanza shows that "some of the world’s top hedge fund managers scaled back their U.S. stock investments last quarter as markets tumbled." Below, courtesy of Bloomberg, is the full summary of what the most prominent hedge fund names did in Q3...

As the third day after the Paris attacks dawns, and hours after France launched an unprecedented blitz airstrike on the Islamic State "capital" of Raqqa (located in the sovereign state of Syria), here are the latest developments following the worst European terrorist attack in the past decade.

"Do not intervene yourself.."

USA! USA! USA! Exceptional America is #1 once again... oh wait!

In very raw terms, if a man wanted to buy a house and a car in 1975 he had to work just under five years to pay for them.

If he wants a house and a car today, he has to work almost 11 years...

The world of Bubble Finance economies created by the Fed and other central banks is fundamentally different than that prevailing under the “Lite Touch” monetary policies which preceded the Greenspan era. The problem today is that the PhDs running the Fed have an economic model which is a relic of the Lite Touch era. It is not only utterly irrelevant in today’s casino driven system, but is actually tantamount to a blindfold. It causes them to look at a dashboard full of lagging indicators like jobs and GDP components, while ignoring the explosive leading indicators starring them in the face on CNBC. The clueless inhabitants of the Eccles Building do not recognize that they have created a world in which Wall Street supersedes main street.