Four Seasons

Kushner Companies Seen Hawking Shady US-Visa-Buying-Residency Program To Wealthy Chinese

Like so much else in this fake economy, the EB-5 visa program is an unethical racket that uses a government program originally designed to help struggling communities to further help the already wealthy by funneling cheap financing to luxury property development. It’s just another example of how screwed up our incentives are as a nation, and how completely corrupt the American Banana Republic has become.

Frontrunning: April 13

  • Trump comments trigger U.S. dollar, bond yield slide (Reuters)
  • N. Korea Nuclear Test Could Come Saturday or Sooner, Sources Say (VoA)
  • Fear Is Creeping Back Into Markets (BBG)
  • Trump Liking Yellen Ignites Prospects for Fed Policy Continuity (BBG)
  • CEOs gaining power in Trump’s White House (Politico)

David Rosenberg: "This Is A Bubble Of Historic Proportions"

"This bubble is on par with what we had in the States back in ’05, ’06, ’07. We have to actually take a look at the situation. The housing market here is in a classic price bubble. If you don’t acknowledge that, you have your head in the sand."

US Preparing Sanctions Against Syria

Just hours after unleashing a missile strike on Syria, Steven Mnuchin announced that the US will announce sanctions “in the near future” against the Assad regime. 

Frontrunning: February 1

  • Fed Unlikely to Make Its Next Rate Move Wednesday (WSJ)
  • Conservative Gorsuch nominated to top court (Reuters)
  • Gorsuch Is Critic of Legal Doctrine That Bolsters Executive Authority (WSJ)
  • The 4 Rules That Will Explain Neil Gorsuch’s Confirmation Fight (Politico)
  • Trump’s Yen Comments ‘Wide of the Mark,’ Says Japan FX Chief (Reuters)
  • A barb at Germany puts Trump administration on collision course with EU (Reuters)

Podesta Part 21: Wikileaks Releases Another 1,400 Emails; Total Is Now 35,594

With just days to go until the November 8 presidential election, the final countdown is now on, and Wikileaks continues its ongoing Podesta dump by unveiling another 1400+ emails in the latest Part 21 of its Podesta release, bringing the total emails released so far to exactly 35,594, leaving just 30% of the total dump left to go.

Futures Ignore Apple Plunge; Oil Rises Above $45 As Yellen Looms

For those who thought that the world's biggest company losing over $40 billion in market cap in an instant on disappointing Apple earnings, would have been sufficient to put a dent in US equity futures, we have some disappointing news: with just over 7 hours until the FOMC reveals its April statement, futures are practically unchanged, even though the Nasdaq appears set for an early bruising in the aftermath of what is becoming a disturbing quarter for tech companies. Instead of tech leading, however, the upside has once again come from the energy complex where moments ago WTI rose above $45 a barrel for the first time since November after yesterday's unexpected 1.07 million barrel API inventory drawdown.

Central Bankers' Embarrassment Of Stitches

Had central bankers simply taken to heart that well known idiom that cautions "a stitch in time saves nine" early on, they would not now be so frantically stitching such a gaping gash in the world economy. One thing is for certain. All of this quantitative pleasing has done little to lift the spirits of the world’s worker bees.