Sterling Tumbles To 31 Year Low Pushing The FTSE100 Near All Time High; US Futures Flat

Sterling dropped to its weakest since 1985, hit by a growing sense that the UK may be heading for a 'hard' Brexit in which it cuts links to the EU's single market in favor of total control over immigration. The dollar strengthened, the Nikkei225 rose as the Yen fell,  stocks in Europe rallied while US equity futures were fractionally in the green.

More Confessions Of An Economic Hit Man: "This Time, They’re Coming For Your Democracy"

"Back in my day we were pretty much limited to what we called the third world, or economically developing countries, but now it’s everywhere. And in fact, the cancer of the corporate empire has metastasized into what I would call a failed global death economy. This is an economy that’s based on destroying the very resources upon which it depends, and upon the military. It’s become totally global, and it’s a failure."

Six Impossible Things Before Breakfast

We live in an age when the level of deceit and propaganda is at an all-time high. Joseph Goebbels, Vladimir Lenin, and others did their best to force-feed propaganda to the masses, but they were rank amateurs compared to the spin doctors employed by the political leaders of today. They’re masters at convincing people of impossible things. Here are six impossible things that many seem to have little trouble accepting as reality.

How To Win At The "Beat The Wall Street Estimate" Game

As the quarterly ritual of the earnings season approaches, executives and investors would do well to remember the words of the then-chairman of the Securities and Exchange Commission Arthur Levitt in a 1998 speech entitled “The Numbers Game.” “While the temptations are great, and the pressures strong, illusions in numbers are only that—ephemeral, and ultimately self-destructive.”

What OPEC "Production Cut": Iran, Libya To Boost Production, MS Warns Of Hedging, JPM Cuts Oil Price Target

While last week's OPEC Aligers meeting was supposed to lead a production cut, however we warned that over the most likely outcome would be a boost in production.  We didn't have to wait long and earlier today Iran's IRNA news agency reported that Iran is presently exporting 2.2mbpd of crude oil but the figure could be well increased to 2.25mmbpd and that Iran would be able to increase its crude oil production to 4.2mbpd. At the same time, Libya crude oil production rose to 500k B/d, and output would liekly reach 600k b/d at end-October.

Is The US Dollar Set To Soar?

Which blocs/nations are most likely to face banking/liquidity crises in the next year? The FX roulette wheel is still spinning, but the ball will drop fairly soon, if not in Q4 2016 then in Q1 2017.

Why American Military Doctrine Is Doomed For Failure

Since the early 90s, policy-makers in Washington have had as their objective the utopian goal of global hegemony, and in order to accomplish this the US armed forces had to expand and create new control centers in every corner of the planet. This is a typical example of imperial overreach, which has historically been the impetus for the collapse of several kingdoms and empires over the centuries.

"I'm A Bernie Sanders Voter.. Here's Why I'll Vote Trump"

"Even if he’s as bad as he sometimes projects to be, he’s not as bad as Hillary’s policy-record already is." Sometimes, things in politics are the opposite of the way they seem. The Presidential contest between the ‘liberal’ Hillary Clinton’ and the ‘conservative’ Donald Trump is perhaps the most extreme example of this - for these ten reasons...

How Do We Create Value When Knowledge Is Almost Free?

How do we create value in an economy that is increasingly dependent on knowledge? The answer is complicated by the reality that knowledge is increasingly digital and "unownable" and therefore almost free. Financialization as a substitute for creating value has run its course.

Brexit Means March: Theresa May Will Trigger EU Divorce In Q1 Of 2017

After weeks of speculation on the UK's timetable for invoking Article 50, and eventually exiting the EU, Prime Minister Theresa May today announced she’ll begin the U.K.’s withdrawal from the European Union in the first quarter of 2017, ending speculation about the start of the 2-year Brexit process.

Paul Craig Roberts Urges "Bring Back The Cold War"

Pundits have declared a “New Cold War.” If only! The Cold War was a time when leaders focused on reducing tensions between nuclear powers. What we have today is much more dangerous: Washington’s reckless and irresponsible aggression toward the other major nuclear powers, Russia and China.