The unfolding correction of the visible excesses of the credit inflation - such as overinvestment and malinvestment - will destroy incomes and profits; the Great Unwind of the less visible effects, such as the sovereign wealth fund liquidations, are a giant pin aimed squarely at the monumental worldwide bubbles in stock, bonds and real estate.

In a clash of the billionaire titans, Warren Buffett just defeated Elon Musk. The fight was over solar net-metering in Nevada...

Any serious reform has to start with the dissolution of the existing political parties and the Federal Reserve. Anything less is self-serving, pandering fantasy.

Some have called Cass Sunstein "America's Goebbels" since he sugggested that the government "formally hire credible private parties to engage in counterspeech," and was engaged by President Obama as 'Information Tzar'. So today's op-ed from the government's propagandist-in-chief, condemning those who choose to push back against political correctness, should be read with a Bernaysian perspective as Sunstein attempts to delegitimize any and every effort to argue against the government's view of the world.

USDJPY tried and failed... and so the machines shifted their momentum ignition efforts to crude - ramping WTI back up to post-API inventory build levels... If this fails to break the S&P above VWAP, VIX will be slammed...