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The Useful And The Useless

The battle lines are forming... Take away the undeserved from the undeserving and you get a tantrum. Steal the earned from those who earned it and you get righteous rage. One’s a firecracker, the other a volcano.

Ben Hunt's Mailbag - Life In Trumpland

"I wrote this note because I am so effin’ tired of being called a racist or a sexist because I don’t think that Donald Trump is evil incarnate... I think Trump is a narcissist and an ass, not a Fascist. Like most people in the financial services world, I deal with narcissists and asses every day … they’re not Hitler clones because the only thing they’re really true-believers about is their own self-aggrandizement."

"The European 'Story' Is Broken"

"I’ll listen to what the bond market is telling me over whatever Goldman Sachs and Morgan Stanley and the rest of our sell-side friends is pitching me. The "buy-Europe!" story that has been pitched by the sell-side ad nauseam for the past six months is broken and stocks are defenseless against the steady stream of anti-Europe political news we are going to endure for the next eight weeks."

The Game (Theory) Of Trump - "Not Every Tweet Is A Constitutional Crisis"

"It’s the oldest saying in poker, and one I can’t repeat often enough. If you’ve been playing poker for 30 minutes and you don’t know who the sucker is … it’s you. We are - all of us, without exception - being played. That doesn’t mean we stop playing the game, whether it’s the game of markets or the game of citizenship. It means, though, that we resolve not to be the sucker."

"Traders Got It Wrong Before The Election, And Continue To Get It Wrong Today"

"Traders got it wrong before the election, and continue to get it wrong today.” The VIX touched 10.50. “You see the tweets, the media battle, illegal voters, conspiracy theories, Mexican feuds, European taunts, border walls, fake news, and lies,” said Roadrunner, looking left, right, up. “But be careful what you watch. There is only one thing that doesn’t lie, and that’s the price."

Fiat Money, Fiat News

Gresham’s Law: bad money drives good money out of circulation.

Hunt’s Law: fake news drives real news out of circulation.

Nassim Taleb Explains "How To Go Bankrupt & Be Loved By The Many"

"The detractors of Donald Trump failed to realize that, by advertising his episode of bankruptcy and his personal losses of close to a billion dollars, they removed the resentment one may have towards him. There is something respectable in losing a billion dollars, provided it is your own money... your 'skin in the game'."

Communism Again Gets A Free Pass - Setting The Record Straight On Castro

This week with the passing of Fidel Castro - another “distinguished” ‎butcher comrade with all the assorted hypocrisies - we were reminded of how that scourge of humanity got a free pass yet again. The world by and large missed a great opportunity to set the historical record straight.