Recession

The FT Goes Full Fearmonger: Electing Trump "Would Unravel The World"

"Sometimes history jumps. Think of the first world war, the Bolshevik revolution, the Great Depression, the election of Adolf Hitler, the second world war,... We may be on the brink of an event as transformative as many of these: the election of Donald Trump as US president. This would mark the end of a US-led west as the central force in global affairs. The result would not be a new order. It would be perilous disorder."

"Hillary Rally" Fizzles As DB Hits New Record Low; Volkswagen Slammed; Oil Slides On Iran Statement

A rally in global risk that started during last night's first presidential debate on the market's take that Hillary came out on top fizzled, following news that the DOJ is assessing how big a criminal fine it can extract from Volkswagen (-3.8%) over emissions-cheating "without putting the German carmaker out of business", while Iran's oil minister Zanganeh told reporters Iran is ununwilling to freeze output at current levels. Deutsche Bank dropped to a new all time low while its default risk hit fresh record highs.

The QE Premium

"...to be blunt, given the aforementioned fundamental risks and the poor risk/return skew, history is clearly not in favor of those who remain long equities banking on the Fed to continue to levitate valuations and prices with limited tools and faulty narratives."

26 Incredible Facts About The Economy That Every American Should Know Before The Trump-Clinton Debate

Are you ready for the most anticipated presidential debate in decades? There will likely be quite a few questions about the economy, and without a doubt this is an area where Trump and Clinton have some very sharp differences.  The mainstream media would have us believe that the U.S. economy is in pretty good shape, and if that was true that would seem to favor Clinton.  But is it actually true?

"My Order Book Is Abysmal" - Dallas Fed Contracts For 21st Straight Month

For the 21st month in a row, Dallas Fed's manufacturing outlook remains stuck in contraction (-3.7 vs -2.5 exp). This is the longest streak outside of recession in the survey's history as new orders cratered (one respondent noting "my order book is abysmal") and inventories tumbling (not good for GDP).

Knave Dave's picture

Trump's corporate tax cut is the largest in US history, but it's another giveaway to the top 10%, including himself. It comes with no constraints so it will be spent on more stock buybacks and bigger bonuses. If you want a place at the table, you're going to have to fight for it; otherwise, you can stay below with the rest of the dying middle class and lick up the crumbs.

"Hell To Pay" - The Final Condition For A Market Crash Is Falling Into Place

Our liquidity-drunk “markets” remain over-priced due to the chronic intervention of the global central banking cartel, which has demonstrated over and over again that it won't tolerate even the slightest drop in asset prices. Once faith in central banks is lost, their power to delay the deflationary day of reckoning goes with it. The stupendous amount of debt they have helped heap onto the financial system since 2008 will start going into default and the only question that will matter is: Who is going to eat the losses?