Brazil

Mugabe Orders Arrest Of "Rats We Call Athletes" After Zimbabwe Wins No Olympic Medals

We have wasted the country’s money on these rats we call athletes. If you are not ready to sacrifice and win even copper or brass medals (referring the 4th and 5th positions) why do you go to waste our money... If we needed people to just go to Brazil to sing our national anthem and hoist our flag, we would have sent some of the beautiful girls and handsome guys from University of Zimbabwe to represent us."

Frontrunning: August 26

  • Global equities set 2-week low before Yellen speech, dollar dips (BBG)
  • Lochte signs new endorsement deal, legal woes persist in Brazil (Reuters)
  • Blackstone Unleashes Cash Hoard in Texas Shale Oil Land Grab (BBG)
  • China to prosecute former statistics bureau chief for corruption (Reuters)
  • Turkey fires on U.S.-backed Kurdish militia in Syria offensive (Reuters)

Jeffrey Snider: All Signs Point To Systemic Reset

"... what’s happened in stocks is more a myth than actual reality. Investors in stocks are buying at ridiculous valuations based on the premise that the Fed can create a recovery through liquidity. And what 2014 and 2015 show us is that this simply wasn’t true! ...the longer the earnings recession lingers, the higher the risk that stock investors will realize that they’ve been following the wrong story all along!"

Ryan Lochte Issues "Apology For His Behavior"

"I want to apologize for my behavior last weekend -- for not being more careful and candid in how I described the events of that early morning...  It's traumatic to be out late with your friends in a foreign country - with a language barrier - and have a stranger point a gun at you and demand money to let you leave."

Why The Average American Is Angry (In 6 Simple Charts)

The last 20 years have brought great wealth to a few while most of the population was lucky to break even. Whether you’re a member of the elite/protected class or one of the unprotected, it’s hard to deny this reality. Globalization has created divisions between skilled and unskilled workers. Too few of the gains from growing trade are going to the unprotected class. They’re angry. We’re seeing this backlash now in people’s attraction to Trump, who promise to bring jobs back.

On The Impossibility Of Helicopter Money And Why The Casino Will Crash

Will the boys and girls still in the casino after the current election gong show is over patiently wait for their next fix from a beltway governance process that is in sheer pandemonium and stalemate? We think the odds are between slim and none. As we indicated previously, if Trump is elected the fiscal process will lapse into confrontation and paralysis for an indefinite spell. And if Hillary is elected, the Republican House will become a killing field for almost anything she proposes, and most especially the rank Keynesian apostasy of outright and massive debt monetization...

Mystery Solved: Brazilian Police Say Lochte Fabricated Robbery; Got Rowdy In Gas Station Instead

The strange story involving US Olympic Swimmer Ryan Lochte may just have been resolved moments ago when a Brazilian police official told The Associated Press that American swimmer Ryan Lochte fabricated a story about being robbed at gunpoint in Rio de Janeiro. The official said that around 6 a.m. on Sunday, Lochte, along with fellow swimmers stopped at a gas station where they broke a door, and a guard asked them to pay for the damage.

Frontrunning: August 18

  • World stocks rise, dollar weakens on divided Fed  (Reuters)
  • U.S. Held Cash Until Iran Freed Prisoners (WSJ)
  • Brazil police pull U.S. swimmers from flight amid robbery probe (Reuters)
  • Rio’s Latest Headache: Loads of Empty Seats (WSJ)
  • Clinton Foundation hired cyber firm after suspected hacking (Reuters)

S&P Futures Unchanged As Europe Rises; Dollar Slide Sends Oil Above $47

In the latest quiet trading session, European shares rose while Asian stocks fell and S&P futures were little changed. Minutes of the Fed’s last meeting damped prospects for a U.S. interest-rate hike, sending the Bloomberg Dollar Spot Index doen 0.3%, approaching a three-month low. Dollar weakness continues to buoy commodities, with the Bloomberg Commodity Index set for the most enduring rally in more than two months, as WTI flirted with $47

Brazil Escalates: Authorities Pull 2 US Olympic Swimmers From Rio Flight

It appears Brazilian officials are not simply going to let this one go. With Ryan Lochte reportedly back in the US (and teammate James Feigen unaccounted for) following the Brazilain judge's search-and-seizure warrant, CNN reports that two fellow swimmers involved in the alleged robbery - Jack Conger and Gunnar Bentz - were removed by Brazilian authorities on Wednesday night from their flight before it departed Rio de Janeiro to the United States, according to US Olympic Committee spokesman Patrick Sandusky.