Ford

Chris Hedges: Elites "Have No Credibility Left"

"...commercial broadcast networks, like CNN and MSNBC, are not in the business of journalism. They hardly do any. Their celebrity correspondents are courtiers to the elite...They sacrifice journalism and truth for ratings and profit... they've embraced identity politics. We saw where that got us with Barack Obama, which is worse than nowhere..."

Hedge Fund CIO: "Never In Human History Have So Many Things That Weigh Nothing Had So Much Value"

Never in human history have so many things that weigh nothing had so much value, fueled such vast fortunes. Data weighs nothing. Knowledge weighs nothing. Software weighs nothing. Algorithms weigh nothing. And as the singularity approaches - that point when artificial intelligence surpasses all human intelligence - we struggle to fathom its infinite weight, uncertainty.

Frontrunning: October 4

  • Spanish tensions bar Europe from global stocks party (Reuters)
  • Catalonia to move to declare independence from Spain on Monday (Reuters)
  • Catalan Police Chief Investigated For Sedition (TSR)
  • Trump Suggests Puerto Rico’s Debt May Need to Be ‘Wiped Out’ (BBG)
  • Trump Heads to Las Vegas After Shooting Reignites Gun Debate (BBG)

Hurricane Harvey Surge-Nado: Auto SAAR Soars To 30-Year High On Hurricane Replacements

Last month, when we reported auto sales data, we noted that this month would be all about replacement demand from Hurricane Harvey and thus largely irrelavant.  Fast forward 30 days and that appears to be exactly what has happened as annualized auto sales for the month of September suddenly surged to a 30-year high of 18.5mm units

US Oil Rig Count Rises Most In 3 Months

With US crude production having rebounded back to near cycle highs in its lagged response to the oil rig count, this week's rebound in the oil rig count (+6 to 750) is notably the largest addition in almost 3 months.

Frontrunning: September 29

  • Republican Tax Plan Hits First Hurdle (WSJ)
  • A $6.4 Billion Windfall Awaits Big U.S. Banks in Trump's Tax Cut (BBG)
  • How Does the Trump Tax Plan Affect You? WSJ Answers Your Questions (WSJ)
  • Twitter suspends Russia-linked accounts, but U.S. senator says response inadequate (Reuters)
  • Flight ban on Iraqi Kurds imposed after independence vote (Reuters)

Frontrunning: September 28

  • GOP Tax Proposal Expected to Benefit Wall Street Firms (WSJ)
  • Trump’s Tax Cuts May Produce Short Job-Growth ‘Sugar High’ (BBG)
  • Playboy founder Hugh Hefner dies at age 91 (Reuters)
  • Mountains of Aid Languish on Docks in Stricken San Juan (BBG)
  • Janet Yellen Can’t Help Retirees (BBG)

Frontrunning: September 27

  • Trump Will Let Congress Decide on Tax Rate for Top Earners (BBG)
  • Conservative firebrand defeats Trump pick in Alabama primary for U.S. Senate (Reuters)
  • U.S. Commerce Secretary says market access, protectionism top China issues (Reuters)
  • U.S. slaps steep duties on Bombardier jets after Boeing complaint (Reuters)
  • Dismayed Britain chides Boeing over Bombardier ruling (Reuters)