Turkish Lira Tumbles As Erdogan Re-Escalates US Tensions

In early trading, the Turkish Lira is slumping (having tagged pre-US-Visa highs) as President Tayyip Erdogan showed no retreat from a diplomatic row with the United States, castigating Washington for what he called an "undemocratic" indictment against his security detail.

Low Interest Rates Subsidize Wealthy Households

The above thought experiment illustrates that central bank interest rate cuts are essentially tax cuts for the rich. To be consistent, those who oppose tax cuts for the rich should also stand against monetary policy that disproportionately benefits the richest households as well.

Here Is The IMF's Global Financial Crash Scenario

"Concerns about a continuing buildup in debt loads and overstretched asset valuations could have global economic repercussions. This section uses a scenario analysis to illustrate how a repricing of risks could lead to a rise in credit spreads and a fall in capital market and housing prices, derailing the economic recovery and undermining financial stability."

One River CIO "We’re Willing Participants In Our Own Demise"

China has banks. They lend money. But pierce the patina and you find a vast subsidy machine, with no cold-blooded allocation of capital. There are no defaults to speak of; just bailouts, no reckonings. "The appearance of a modern financial system allows western financiers to pretend one exists. We are willing dupes in this charade."

California Attorney General Dodges Question About 'Calexit' Referendum

Two days after former White House chief strategist Stephen Bannon warned that California may attempt to secede from the US over the next decade if Republicans failed to reassume control of the state, the state’s attorney general played down speculation that the state would make a credible attempt at leaving the US in the coming years.

Big Tech's Dangerous Influence: "Coming Between Us And Reality"

"[They come] between us and reality. They are the filter we use to get news and information. They intend to create virtual realities that we’re going to be inhabiting, and they’re trying to complete this long merger between man and machine..."