Reality

Why The Next Decade Will Foil Financial Plans

"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'."

"Hillary Is Closer To Mussolini Than Trump Is To Hitler"

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.

"Summer Of Shocks" - 6 Scenarios That El-Erian Sees Slamming Stocks

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....

Key Events In The Coming Busy Week

This week, the market's attention will be mostly focused on this week's two key central bank meetings, namely the Fed on Wednesday and the BOJ on Thursday, although there is a full calendar of economic events also on deck.

Frontrunning: June 13

  • Chaos, Carnage Amid Orlando Rampage (WSJ)
  • FBI Twice Probed Orlando Gunman (WSJ)
  • How the Orlando Shooting Unfolded (WSJ)
  • Brexit fear factor sends stocks spinning (Reuters)
  • Pound Judgment Day Means Either D

Paul Craig Roberts On The "Frustrations Of Telling The Truth"

"All of my life I have confronted the vast bulk of humanity living in a false reality created by self-serving powerful interest groups and the government that they control. People believe the lies that define their reality, because they lack the education and the emotional and intellectual strength to confront the obvious lies."

About Those Carbon Emissions

Ever since the discussions on how to address "manmade global warming" started to gain traction in the 1990s trillions of dollars have been spent on infrastructure, subsidies, R&D, regulations, trading schemes and even political organizations with the explicit intent of reducing greenhouse gas emissions. Alas, the world has changed considerably since the 1990s. Rather than diminishing, carbon emissions have actually increased by a great deal. Developing countries as a whole are now the #1 emitter. And many OECD (mostly developed) countries are trying to manage very difficult fiscal positions. In fact, the only thing that seems to have remained constant is the strategy on how to reduce emissions globally.

"Reality Of The Virtual" - The Most Bizarre, Post-Modern Analysis Of The Fed Yet

"The problem is not only economic, but also linguistic. For years now, it can be argued, the Fed’s role has extended from inflation and growth to stability of the markets and shifted towards maintaining symbolic order. Since the moment when unwind of the stimulus became the main theme, Fed has been acting increasingly as a symbolic authority. This is the reality of the virtual -- the real effects produced by something which does not fully exist. In this way the Virtual acts as the stable focal point around which all elements circulate."

How Fascism Comes To America

We're now well into what I call The Greater Depression. A lot of people believe we're in a recovery now; I think, from a long-term point of view, that is total nonsense. We're just in the eye of the hurricane and will soon be moving into the other side of the storm. But it will be far more severe than what we saw in 2008 and 2009 and will last quite a while – perhaps for many years, depending on how stupidly the government acts.