Why MainStreet Isn't Buying Obama's Economic Story

Last night, President Obama took a victory lap for his economic achievements while in office. With the 2016 Presidential Election fast approaching, this was one of the final chances the President will have to try and divert attention away from Hillary’s “trustworthiness” problem following continued revelations surrounding Benghazi, email scandals and the Clinton Foundation which is now under investigation by the IRS. The question is whether the majority of the voting public will agree with the President’s message? Let’s take a look at some charts...

Bridgewater Fires Back At NYTimes 'Sex Scandal' Story: Firm Is "Not For Everyone"

It seems the New York Times may have struck a nerve with its recent article on Bridgewater which exposed a sexual harrassment claim made by a former employee who described the fund as a “cauldron of fear and intimidation." While the letter generally attempts to discredit everything in the NYT article, we did find one point of agreement as Bridgewater pointed out that the firm is "not for everyone." 

"Free Speech Cage" Keeps Anti-Hillary Protesters Away From DNC Convention

It is time that the people of America faced the reality of how limited their “choices” for leaders really are, and how deeply the repression of real candidates and real issues goes. Every four years, they waste the time and energy of the general public – intentionally – to make a ritual out of giving consent to the psychopathic to rule over the sheeple. These people do not represent or serve you or the issues of ordinary people.

With All Eyes On Tonight's BOJ Announcement, A "Minor" Snag Emerges

With all eyes on the BOJ's decision in several hours, an announcement which is expected to contain some component of government deficit funding attached to it, or helicopter-lite, a "minor" snag has emerged in what Japan has affectionately titled the "emergency, peace of mind realization, overall spending measures" fiscal package, namely that only about a quarter of the total JPY 28 trillion in new stimulus is in the form of actual spending.

Monte Paschi Bailout In Peril As 3 Banks Walk Out: Are More "Pensioner Suicides" Next?

According to Reuters, Morgan Stanley and Italian lenders UniCredit and Intesa SanPaolo have rebuffed a proposal by Italy's third-largest lender, Banca Monte dei Paschi di Siena to back its proposed 5 billion euro cash call, a development which may lead to a bail-in of the troubled lender, and potentially spark contagion across the Italian banking system.

What Happens Next?

For the 4th day running, US equity markets have cratered overnight into the European close... and begun their bounce back - will today be any different?

USDJPY Surges On Headline Government Pressuring BOJ To Boost Stimulus; Bloomberg Denies

Update: Looks like we may have a lost in translation moment here, because shortly after the Reuters report (which recall is first and foremost an FX dealer and so loves USDJPY volatility), bloomberg reports that the "MOF draft statement cited by Reuters simply affirms that govt still plans a package." Hardly the dramatic "pressuring" of the BOJ Reuters would have its FX trading clients believe.

Corrupt Or Just Stupid? Markets Hand Corporations An Unlimited Credit Card

The crucial thing to understand about credit bubble dynamics is that borrowing money from people desperate to lend and using the proceeds to overpay for assets requires only monkey-level intelligence. So while a bubble is inflating it’s impossible for most of the media, banking and political communities to tell the legitimate operators from the hopelessly corrupt and/or extremely stupid. That’s the world we’ve created by handing monetary printing presses to governments, and by extension to corporate CEOs.

Syria's al-Nusra Front Officially "Splits" From al-Qaeda

Earlier today, the leader of the Jabhat al-Nusra front, Abu Mohamed al-Golani confirmed that his group has formally split from al-Qaeda and has renamed itself Jabhat Fath al-Sham or the Levantine Conquest Front. "The creation of this new front aims to close the gap between the jihadi factions in the Levant," Golani said in his first televised appearance. "We thank the leaders of al-Qaeda for understanding the need to break links."

Hungary's PM Orban: Trump "Better Option For Europe"

"I am not Donald Trump's campaigner... I listened to (Trump) and I have to tell you that he made three proposals to stop terrorism. And as a European, I myself could not have drawn up better what Europe needs."

Crude Crashes Into Bear Market To April Doha Lows

WTI Crude (Sept 16) futures are within a hair of trading with a $40 handle - something that has not happened since the lows after the failed Doha talks in April. From the June highs at almost $53, oil is down 22% - a bear market -as inventories, rig counts, and production all rise.

Islamist Terrorism, European Denial

"The concept of the rule of law means that the citizen is protected from the arbitrariness of the State... Currently, the rule of law protects the attackers above all."