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Does Kim Jong-Un's Strategy Make Sense?

"Looking at the recent North Korean testing of two intercontinental missiles, it may seem that Pyongyang wishes to increase tensions in the region. A more careful analysis, however, shows how the DPRK is implementing a strategy that will likely succeed in averting a disastrous war on the peninsula."

The Insecurity Of Social Security

"Of these 41.9 million retirees, more than 60% count on their Social Security to be a primary source of income... This is a huge problem that will not only impact boomers in retirement, but also the economy and the financial markets. It also demonstrates just how important Social Security is for current and future generations of seniors."

What's Next For The VIX? RBC Explains

"From a ‘vol control’ fund deleveraging perspective, we still aren’t likely to have seen heavy de-risking flows from the masses yet (many targets at 8 or 10), as SPX realized vol—even of the short-term 20d varietal—remains painfully low at 6.5.  So, in order to ‘trigger’ it would either require another violent jump in vol, or a few more days further in this 15-16-17 vols level to ‘drag up’ the trailing number."

Global Market Rout Spreads: VIX Marches Higher As China Stocks, Currency Plunge

The global rout resulting from tensions over the North Korean nuclear standoff continued on Friday following a third day of escalating verbal exchanges between Trump and Kim, with European and Asian shares tumbling as volatility across the globe spiked, with the selloff in US futures continuing albeit at a more modest pace.

Is Bitcoin Money?

"At various times in history, feathers have been money. Shells have been money. Dollars and euros are money. Gold and silver are certainly money. Bitcoin and other cryptocurrencies can also be money."

Risk Off: Global Stocks Slide As "Fire And Fury" Results In "Selling And Fear"

US futures are set for a sharply lower open (at least in recent market terms) following a steep decline in European stocks and a selloff in Asian shares, following yesterday's sharp escalation in the war of words between the U.S. and North Korea. In a broad risk-off move U.S. Treasuries rose, the VIX surged above 12 overnight, while German bund futures climbed to the highest level in six weeks.

There Is No "Political Center" In Modern America

"If there are no voters in the political "center," a strategy based on winning them is likely to fail. So why pursue them? Perhaps because voters aren't what the Democratic Party - or either American political party these days - is pursuing. Perhaps it's because what both parties are actually pursuing - is money."

"It's The Economy, Stupid... Not Drugs & Demographics"

"Unless oil prices really break higher, then the bond market gives far more weight to what the FOMC members would all rather never consider – the problem really is money and economy rather than drugs and demographics."