It appears as though Hillary Clinton may be witnessing her “Geithner moment,” because as Reuters reports, several Clinton family charities will now refile a half decade worth of returns after failing to report “tens of millions” in contributions from foreign governments.
"I've said it before, and I'll say it again: In a situation with the police, it's not immediately about who is right or wrong, it's about staying alive,” a former Alabama state trooper says, in an open letter to African Americans across the country.
Following the FCC joining the DoJ in the government's blowback against the merger, Bloomberg reports:
- *COMCAST SAID TO PLAN ANNOUNCEMENT AS SOON AS FRIDAY
- *COMCAST SAID TO PLAN FINAL DECISION ON TIME WARNER TODAY
Comcast stock initially jumped and Time-Warner tumbled... but both are now higher!
The reality is, like dominoes, that once one of these issues becomes a problem, the rest become a problem as well. Central Banks have had the ability to deal with one-off events up to this point by directing monetary policy tools to bail out Greece, boost stock prices to boost confidence or suppress interest rates to support growth. However, it is the contagion of issues that renders such tools ineffective in staving off the tide of the next financial crisis. One thing is for sure, this time is "different than the last" in terms of the catalyst that sparks the next great mean reverting event, but the outcome will be the same as it always has been.
There is mounting evidence that oil prices are poised to rebound from a historic bust. But what if the bust is not over yet? Despite the signs of a rebound, ExxonMobil’s CEO Rex Tillerson has a much more bearish take on oil prices. Speaking at the IHS CeraWeek conference in Houston, Tillerson predicted that oil prices would remain subdued for the next several years.
What’s so shocking about the story below is not that a 20-year veteran of the Houston police force, who was previously named one of the “Officers of the Year” by the Officers Union, was trafficking weapons for drug cartels. What’s shocking is that he was actually indicted and faces life in prison. He should’ve worked for a federal agency like the DEA or TSA, in which case he might not have even been fired.
Following the CEO's comments that over 100,000 energy jobs will be lost this year, an executive with Weatherford International - the fifth largest US fracker - has warned half of the 41 fracking companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies. “We go by and we see yards are locked up and the doors are closed," said Rob Fulks, seemingly confirming what Weatherford CEO Duroc-Danner said earlier in the year, "we're now confronted with an unusually severe market contraction."
We recently revealed that $5.3 trillion of government debt trades at subzero interest rates. In today’s fiscally profligate world that is a thundering tell. What it signifies is nothing less than financial regime change. There are no markets left in any meaningful sense of the word - just a raging casino infected with the madness of the crowds and the central bank pied pipers who mesmerize them. Every day there are new confirmations of the mania.
Something doesn't quite add up when the median price of a new home is just shy of all time highs, while the actual number of new homes sold is just shy of all time lows.