Reality

Barry Diller: "If Trump Wins I'll Move Out Of The Country"

"If Donald Trump doesn’t fall, I'll either move out of the country or join the resistance. I just think it's a phenomenon of reality television as politics and I think that that is how it started. Reality television, as you all know, is based on conflict. All he is is about conflict and it's all about the negative conflict. He's a self-promoting huckster who found a vein, a vein of meanness and nastiness."

Role Reversal In The New Cold War

Baldly stated, the United States government is the greatest danger to peace and freedom the world has ever known. This is true precisely because it has held aloft the torch of liberty for so long, an example to the world of what a society based on individual freedom can achieve. That is the great paradox of American power. As we abandon our libertarian heritage – even as we retain the forms of a constitutional republic – we destroy what made our power possible. The process is reversible: we can restore our old republic – but only if we give up the mirage of empire.

US Government Accused Of "War Crime" By Doctors Without Borders In Bombing That Killed 22

"Today the US government has admitted that it was their airstrike that hit our hospital in Kunduz and killed 22 patients and MSF staff. Their description of the attack keeps changing—from collateral damage, to a tragic incident, to now attempting to pass responsibility to the Afghanistan government. The reality is the US dropped those bombs. The US hit a huge hospital full of wounded patients and MSF staff. The US military remains responsible for the targets it hits, even though it is part of a coalition. There can be no justification for this horrible attack. With such constant discrepancies in the US and Afghan accounts of what happened, the need for a full transparent independent investigation is ever more critical."

A Useful Prep-Sheet On Syria For Media Propagandists

Here are some State Department talking points on Syria for cable news anchors... If you do all this, you will demonstrate your loyalty to the State Department, the bipartisan foreign policy consensus, the military-industrial complex, the One Percent, your advertisers, your producers and editors, and the unsung heroes behind the scenes who arrange your teleprompter scripts. You too could be an Andrea Mitchell, or Christiane Amanpour, posturing as an “expert” while trotting out our talking points. And even after they’re exposed as bullshit, you won’t have to say you’re sorry. People will soon forget anyway.

Nomi Prins: How Trump Became Trump And What That Means For The Rest Of Us

Unfortunately, we are used to politicians saying whatever they think they need to say to be elected president, and falling way short of their campaign promises on the job. Even scarier would be the notion of selling America to the craftiest bidder. The election may be more than a year away, but isn’t it time to dig beneath the carefully crafted persona that is Trump and unearth the person and the full spectrum of his business dealings? To see the real Donald Trump is to plunge into all the conflicts of interest he denies, the financial tricks he dispenses, the crucial details he obfuscates, and the flimflam he offers up day in, day out.

The Window Has Closed On The Fed

The Fed understands that economic cycles do not last forever, and we are closer to the next recession than not. While raising rates would likely accelerate a potential recession and a significant market correction, from the Fed's perspective it might be the 'lesser of two evils. Being caught at the "zero bound" at the onset of a recession leaves few options for the Federal Reserve to stabilize an economic decline... For Janet Yellen, the "window" to lift interest rates appears to have closed.

DuPont Stock Soars After CEO Quits And Company Slashes H2 EPS Guidance By Nearly 50%

Several months ago activist Nelson Peltz may lost his proxy fight against DuPont, but in retrospect he may be counting his lucky stars as moments ago the company became only the latest chemical giant to admit the gruesome reality of the global economic slump driven by a historic USD surge, when it not only cut its second half operating EPS from $0.75 to $0.40, in the process also slashing full year operating EPS from a prior guidance of $3.10 to just $2.75 mostly blaming Brazil, but in an even bigger shocker also reported that its CEO and Chairman Ellen Kullman is retiring from the company effective October 16.

US Services Economy "Bounce" Dies As New Orders Crash Most Since Lehman

On the heels of China's, Japan's, Brazil's, and Europe's Services PMI weakness (and US Manufacturing PMI and ISM weakness), Markit's US Services PMI printed 55.1 (missing exectations of 55.6) and dropping to its lowest since June. This catch-down to Manufacturing weakness suggests the mid-year bounce is well and truly dead as even Markit admits, "it remains unclear as to whether growth will weaken further as we move into Q4." Additionally, after its exuberant spike to 10 year highs in July, ISM Services continued to drop back (to 56.9 missing expectations) with the biggest collapse in New Orders since Lehman.

Welcome To The Future: Downward Mobility & Social Depression

The mainstream is finally waking up to the future of the American Dream: downward mobility for all but the top 10% of households. A recent Atlantic article fleshed out the zeitgeist with survey data that suggests the Great Middle Class/Nouveau Proletariat is also waking up to a future of downward mobility: The Downsizing of the American Dream: People used to believe they would someday move on up in the world. Now they’re more concerned with just holding on to what they have.

Frontrunning: October 5

  • MOAR: Euro-Area Growth Seen Slowing in Sign More Stimulus May Be Ahead (BBG)
  • MOAR: Japan's wage growth slows in August, keeping pressure on BOJ for more stimulus (Reuters)
  • MOAR: Stocks, Copper, Emerging Markets Jump as Fed Delay on Rates Seen (BBG)
  • And yet... Central Banks Lose Bond-Market Credibility as Woes Mount (BBG)
  • World Bank cuts Asia growth forecast on China and US rates (BBC)

The Perilous Misperception That Central Bankers Have Mitigated Market Risk

Never have markets carried so much risk. And never have markets been as vulnerable to an abrupt change in perceptions with regard to central banker competence, effectiveness and capabilities. At the minimum, global markets will function poorly, but risk is now high for a disorderly – Party Crashing - "run" on financial markets, as faith in central banking begins to wane.

It's The Entrepreneur That Saves An Economy – Not The Fed

The markets are beginning to show just how tall and flimsy this house of cards built on QE quicksand has grown. Entrepreneurs and ideas thrive in that type of environment. Exactly what we so desperately need. Yet, instead, all we have is this crony styled, unicorn imagined monstrosity of all that’s unholy to true business principles. "Markets right themselves with pain... That’s Capitalism. Back room manipulation to avoid that pain only increases the severity of it down the road."