Reality

"Someone Is Going To Be Very Wrong"

What is clear is that the Federal Reserve has gained control of asset markets by gaining control over investor behavior. “Are you afraid of a market crash? Yes. Are you doing anything about it? No.” Again, it’s back to fundamentals versus expectations. Someone is going to be very wrong.

The Entire Status Quo Is A Fraud

Fraud as a way of life caters an extravagant banquet of consequences. This can't be said politely: the entire status quo in America is a fraud.

Day After Obama Meeting, Yellen Confirms Fed "Focused On Main Street... Helping All Americans"

In an oddly-timed-release, just a day after her 'unusual' meeting with President Obama (and sandwiched between two "emergency Fed meetings"), Janet Yellen's seemingly legacy-protecting narrative-confirming interview with TIME magazine proclaiming once again that "we are focused on Main Street, on supporting economic conditions - plentiful jobs and stable prices - that help all Americans." So now you know - it's all for you America - the bank bailouts, the deflationary-glut-creating ZIRP, the money-printing, and the "confusing and confounding" messaging. Now stop your complaining and Vote Hillary!

2016: The Year Americans Found Out Their Elections Are Rigged

"We The People" don’t choose our presidents; they are hand-picked by a powerful group of political party insiders - parties that have long since sold out to the highest bidders. What we have on our hands in America is a rigged oligarchy, and that’s not a conspiracy theory - it’s fact. Now, however, millions of Americans are becoming aware of it thanks to the populist campaigns of Bernie Sanders and Donald Trump. America’s elections are controlled by a big club, but unfortunately, "you ain’t in it!"

Who Said It: "There Is No Exuberance, No Optimism And Not Much Hope"

NFIB Chief Economist Bill Dunkelberg cautioned that the small business sector is currently “underperforming, doing little more than operating in maintenance mode.” Although there has been “slow economic growth,” he warned that “there is no exuberance, no optimism and not much hope, the numbers make it clear.”

George Soros Warns Europe: Absorb 500k Refugees Costing $34Bn, Or Risk "Existential Threat"

The asylum policy that emerged from last month’s EU-Turkey negotiations has four fundamental flaws, according to Billionaire puppet-master George Soros, which combined pose an "existential threat to Europe." His solution is 'simple' - Accept 500,000 refugees per year costing $34 billion year (via "surge" funding through more borrowing, and a newly-created refugee crisis fund from increased VAT on member states) or else, in his words, "the European Union is in mortal danger?"

Futures Jump On Chinese Trade Data; Oil Declines; Global Stocks Turn Green For 2016

With oil losing some of its euphoric oomph overnight, following the API report of a surge in US oil inventories, and a subsequent report that Iran's oil minister would skip the Doha OPEC meeting altogether, the global stock rally needed another catalyst to maintain the levitation. It got that courtesy of the return of USDJPY levitation, which has pushed the pair back above 109, the highest in over a week, as well as a boost in sentiment from the previously reported Chinese trade data where exports rose the most in over a year, however much of the bounce was due to a favorable base effect from last year's decline. Additionally, as RBC reported, the 116.5% y/y increase in China’s reported March imports from HK likely reflects the growing trend of "over-invoicing", which is merely another form of capital outflow.

SocGen: "Now We Know Why The Fed Desperately Wants To Avoid A Drop In Equity Markets"

"The catalyst for a balance sheet crisis is rarely the affordability of interest rates, so a 25bp rise in Fed rates is neither here nor there. Credit market risk is about assessing the likelihood of getting your money back. As such asset prices (i.e. equity markets) and asset price risk (i.e. equity volatility) are far bigger concerns. So all you need for a balance sheet crisis is declining equity markets, a phenomenon the Fed appears desperate to avoid. Now we know why."

"My Daddy’s Rich And My Lamborghini’s Good-Looking": Meet The Rich Chinese Kids Of Vancouver

Meet Andy Guo, an 18-year-old Chinese immigrant, who loves driving his red Lamborghini Huracán. He does not love having to share the car with his twin brother, Anky. "There’s a lot of conflict," Mr. Guo said, as a crowd of admirers gazed at the vehicle and its vanity license plate, “CTGRY 5,” short for the most catastrophic type of hurricane.  Or Diana Wang, 23,  who thinks a supercar is a poor investment, because its value decreases over time. "Better to spend half a million dollars on two expensive watches or some diamonds."

Chesapeake Takes Out "McClendon Suicide"-Squeeze Rally Highs, Soars 35%

In the second massive short-squeeze of the year for Chesapeake 'speculators', the company of the verge of bankruptcy has exploded 35% higher today, perfectly tagging (to the penny) the 200-day-moving-average. Breaking above the McClendon probe/suicide "squeeze" rally highs, at $6.13, CHK is at 5-month highs... as 'modeled' CDS spreads collapse after the management was forced to pledge the entire company to maintain existing credit lines.