Italy

The Rebellion Is Real; Brexit Was Merely A Warning

"...the actual disaster isn’t the vote, it’s the eight years of policy that made it thinkable... Brexit is not the disaster. The disaster is what they’re rowing from..." As soon as the focus returns to why the UK bailed in the first place the proper sympathy will shift from the poor Britons in a flimsy rowboat to Europeans still trapped on the Titanic.

More Confusion: EU Tells Cameron To Hurry Up With Article 50 As Merkel Says No Need To Rush

Angela Merkel sought to temper pressure from Paris, Brussels and her own government to force Britain into negotiating a quick divorce from the EU, despite warnings that hesitation will let populism take hold. Eurosceptics in other member states applauded Britons' decision to leave the European Union in a referendum that sent shockwaves around the world, with far-right demands for a similar vote in Slovakia underlining the risk of a domino effect. Meanwhile, the EU is urging Cameron to promptly trigger Article 50, even as nobody really knows what the UK will do next...

George Soros: "Brexit Makes EU Disintegration Irreversible"

"Now the catastrophic scenario that many feared has materialized, making the disintegration of the EU practically irreversible. Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term. But the implications for Europe could be far worse."

Germany Says "We Won't Let Anyone Take Europe From Us"

German Foreign Minister Frank-Walter Steinmeier said today that the EU would weather the shock of the British vote to leave the union as he convened crisis talks. "I am confident that these countries can also send a message that we won't let anyone take Europe from us," he said heading into a meeting in Berlin of his counterparts from the EU's six founding members.

"Brexit Is A Bear Stearns Moment, Not A Lehman Moment"

Brexit is a Bear Stearns moment, not a Lehman moment. That’s not to diminish what’s happening (markets felt like death in March, 2008), but this isn’t the event to make you run for the hills. Why not? Because it doesn’t directly crater the global currency system. It’s not too big of a shock for the central banks to control. It’s not a Humpty Dumpty event, where all the Fed’s horses and all the Fed’s men can’t glue the eggshell back together. But it is an event that forces investors to wake up and prepare their portfolios for the very real systemic risks ahead.

What Happened With LTCM Is Now Happening Across The Political And Economic World

What happened with LTCM is happening right now across the political and economic spheres in virtually all nations. You have a collection of self-assured, arrogant “experts” running the world into the ground with their policies. As I said earlier, I have no problem with experts. I have a problem when experts are permitted to operate with zero accountability. The EU represents such technocratic immunity better than any other institution in the Western world.

Stockman: "At Last The Tyranny Of The Global Financial Elite Has Been Slammed"

At long last the tyranny of the global financial elite has been slammed good and hard. You can count on them to attempt another central bank based shock and awe campaign to halt and reverse the current sell-off, but it won’t be credible, sustainable or maybe even possible. The central bankers and their compatriots at the EU, IMF, White House/Treasury, OECD, G-7 and the rest of the Bubble Finance apparatus have well and truly over-played their hand. They have created a tissue of financial lies; an affront to the very laws of markets, sound money and capitalist prosperity.

Calls For Texas Independence Surge After Brexit Vote

The use of "Texit" exploded when the Brexit results were announced, as more than 5,800 people on Twitter used the phrase, a five-fold increase from the day before. 1,745 people tweeted about Texit between 7am - 8am London time, the hour when the final results were announced.

Brexit & The Fourth Turning

Fourth Turnings never peter out. They intensify to a crescendo of turmoil, chaos, violence, war, and bloodshed. This Fourth Turning intensification just got turned up dramatically. It will eventually be turned up to 11.

After Brexit: The System Cannot Hold

The overwhelming underlying principle that we see at work here is that centralization is dead, because the economy has perished. But that is something we can be sure no politician or bureaucrat or economist is willing to acknowledge. They’re all going to continue to claim that their specific theories and plans are capable of regenerating the growth the system depends on. Only to see them fail. It’s high time for something completely different, because we’re in a dead end street.

Derivative Strategist Warns Of $150 Billion In Quant Selling Over The Next Three Days

“The bigger the down move today, the more they have to sell, which would basically create a vicious cycle,” Cheong, head of Americas equity derivatives strategy at UBS, said in a phone interview. “We’ll see front-loaded selling in the range of $100 billion to $150 billion over the next two to three days. It could be very similar to August in terms of model-based selling.”