USA Is Now Twice As Likely To 'Default' Than Germany

While the market turmoil (stocks down a few percentage points from all-time record highs) is being pinned on various factors (from North Korea, Trump, & Cohn to terrible retailer earnings and J-Hole anxiety), we suspect the real cause of market uncertainty is starting to peak through - the looming debt ceiling crisis that has now become too big and too imminent to ignore.

Frontrunning: August 18

  • Hunt for Driver Widens as Second Attack Hits Spain, Five Suspects Are Killed (WSJ)
  • FT loses it over bitcoin's relentless rise (FT)
  • China Codifies a Crackdown on ‘Irrational’ Outbound Investment (BBG)
  • U.S. Navy, citing poor seamanship, removes commanders of warship in deadly crash (Reuters)
  • ACLU Will No Longer Defend Hate Groups Protesting With Firearms (WSJ)

"From Nukes To Terrorism": Battered Investors Flee Risk For Safety Of Bonds And Gold

"In a week where we started by worrying about nuclear war, markets have quickly moved on from this, with yesterday's weak session more of a response to fears that Mr Trump's strategy for the economy and business is falling apart and later the terrible terrorist attack in Barcelona," is how DB's Jim Reid summarized the week's psychedelic events.

Democratic Missouri Senator: "I Hope Trump Is Assassinated!"

A Missouri state senator, Maria Chappelle-Nadal (D-University City), has landed herself in a bit of hot water with with the U.S. Secret Service today after posting, then deleting, a comment on Facebook which read, "I hope Trump is assassinated!"  Unfortunately, the internet never forgets.

"Let's Blow Up Mount Rushmore" Says Vice

We've hit peak crazy here. A prominent online news publication says, “Let's blow up Mt. Rushmore.” No, this is not al-Qaeda's "Inspire" magazine or the Islamic State's "Dabiq" propaganda publication - it's Brooklyn based Vice News.

Greeks Trust Putin Most Relative To Trump, Brits Undecided

Around the world, few people trust Russian President Vladimir Putin to do the right thing when it comes to international affairs. A global median of roughly one-in-four (26%) say they have confidence in the Russian leader. However, as KeepTalkingGreece reports, Greeks love the Russian President; much more so in fact than US President Donald Trump.

The Death Of A Nation

"They’ve been at it for months, well before Charlottesville, across the country, with nary a peep from the party that supposedly has uniform control over the federal government. Our First Amendment rights as Americans end where a black-clad masked thug chooses to put his (or her or indeterminate «gender») fist or club."

How Can We Learn From The Past If We Erase History?

Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.”

Privatize The Public Monuments

"...when approaching the problem of government monuments and memorials, we encounter the same problem we have with public schools. Whose values are going to be pushed, preserved, and exalted? And, who's going to be forced to pay for it?"