"A Muslim man with way too many extremist links to be entirely coincidental is now the Mayor of London. ... In a couple more decades Britain may well have its first Muslim Prime Minister. ... Reality cannot argue with demographics, so the realistic future for Britain is Islamic." - Paul Weston, British politician.
First The Telegraph, then The Sun, and today The Spectator all came out on the "Leave" side of the Brexit debate. However, perhaps even more shocking to the establishment is the CIO of a major bank's asset management arm dismissing the apparent carnage that Cameron, Obama, and Osborne have declared imminent, warning that, "many articles on the Brexit vote overstate its risks and consequences." As JPM's Michael Cembalest adds, the reality is "hardly the stuff that economic calamity is made of." As The Spectator concludes, "the history of the last two centuries can be summed up in two words: democracy matters."
How low can bond yields go? Every day seems to provide fresh evidence that we really don’t know. But whatever your answer, between the gravitational pull of central bank debt purchases and a slowing global economy, the reality is: probably lower.
Bernie Sanders has no plans to concede defeat in the Democratic presidential race to Hillary Clinton when Tuesday’s final primary is done, rebuffing pressure from his colleagues in the Senate and from party officials.
While we fight side-by-side to annihilate our common enemies, ISIS and al-Qaida, the West should give up the idea of democratization and secularization of the Islamic world. And those who believe Islam is the one true faith, to which all of mankind must eventually submit, should be told that they are welcome as visitors — but not as immigrants. For that would ensure endless conflict. The more Islamic the West becomes, the less it remains the West.
So here we are. After decades of what essentially could be called a new “Industrial Revolution” with the advent of computers and the internet, the US government has managed through its monetary authorities and through its other policies to decimate savings and leave millions of Americans financially vulnerable. It has been no accident.
The farce is complete... between the search for yield due to Draghi's policies, and the perceived safety of Danish mortgage backed securities, mortgage borrowers in Denmark can borrow at a cheaper rate on a 30-year loan than the US government.
For over a hundred years, it’s been theorised that author L. Frank Baum wrote his 1900 book, “The Wonderful Wizard of Oz”, as a fanciful way to explain the economic situation at the time and that the Yellow Brick Road was a reference to the path created by gold ownership. Whether or not the theory is correct, for many people today, “Follow the Yellow Brick Road” might serve as a mantra for alleviating economic woes.
Regulation NMS made its first major impact with the introduction of “Payment For Order Flow”, which when paired with sub-penny pricing, is now directly responsible for birthing a new gold rush within the capital markets. The dawn of the High Frequency Trading (HFT) community we witness today. The result of this policy is an insurmountable, unequal, and unjust advantage for self-dealing BD’s and HFT’s, at the expense of the market’s retail level investors.
"This time is 'not different'. The only difference will be what triggers the next valuation reversion when it occurs. If the last two bear markets haven’t taught you this by now, I am not sure what will. Maybe the third time will be the 'charm'."
Obviously, the sitting parties in Congress want nothing more than for Trump to be branded a fascist. Which is why Hillary Clinton not long ago compared him to Adolf Hitler. Through a wider philosophical and historical lens, there are two issues with that claim. First, Trump hasn’t killed anyone. Second, the person making the claim has. The problem for Hillary is that a lot of Americans understand this.
When we predicted last September that bitcoin, which then was trading at $230, would be the biggest winner from unprecedented Chinese buying to avoid heightened capital controls not even we anticipated a move quite like this: 9 months later bitcoin is over 200% higher, and moments ago soared above $700, hitting $710 earlier today for the first time since early 2014,
Most agree that there is a limit to how far central banks can decouple asset prices from fundamentals. With an increasing number of billionaire investors from George Soros to Stan Druckenmiller calling for that reality gap to collapse (amid BofA's "summer of shocks"), it is the timing of that convergence that matters -- particularly when it comes to pinpointing events that could be catalysts for a correction....