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US Admits It "Found A Problem" In Calculation Of GDP

For years we have complained against both the BLS' and the BEA's comical seasonal adjustments, which "serve" just one purpose: to goalseek the data to a desired, politically-mandated outcome, and which culminated last May when the Department of Commerce announced it would seasonally adjust last year's woeful Q1 GDP data not once but twice in order to get a better result.  Now, it appears that there indeed was a problem.

Excerpts From Hillary Clinton's Speech

"The choice we face is just as stark when it comes to our national security. Anyone reading the news can see the threats and turbulence we face. From Baghdad and Kabul, to Nice and Paris and Brussels, to San Bernardino and Orlando, we're dealing with determined enemies that must be defeated. No wonder people are anxious and looking for reassurance -- looking for steady leadership.

The Law Of The Jungle Is Far Superior To The Ideology Of Globalism

While the law of the jungle is not easy or carefree or eternally "safe", I think there are many virtues to a “natural”, unfettered and decentralized way of life far above the mindless homogenization and collectivism of the globalist ideal. Here are just a few examples on why humanity would be much better off living wild and free rather than living an inhibited and micromanaged existence under a global authority.

Bridgewater's Culture Of "Probing" - Sex Scandal Strikes World's Largest Hedge Fund

Employee files sexual harrassment complaint where Bridgewater is described as a  “cauldron of fear and intimidation" where employees are exposed to constant video surveillance and encounters with patrolling security guards that "silence" employees who do not fit the Bridgewater mold. In light of these new developments, we're left wondering which particular "values" Comey carried with him to the FBI and exactly how far he "spread" them within the organization.

Assange: "A Lot More Material" Will Be Released

Wikileaks founder Julian Assange said Tuesday his whistleblowing website might release "a lot more material" relevant to the US electoral campaign. Assange was speaking in a CNN interview following the release of nearly 20,000 emails stolen from the Democratic National Committee by suspected Russian hackers.

Unsound Money Has Destroyed The Middle Class

Prolonged stagnation, cultural upheavals and policy failures are combining to shake the balance between democratic legitimacy and global order...The candidacy of Mr. Trump is a result. Those who reject the chauvinist response must come forward with imaginative and ambitious ideas aimed at reestablishing that balance... Our civilization itself is at stake.

Tuesday Humor: Richmond Fed Survey Beats Expectations By 7 Standard Deviations

Aginst expectations of a -5 print, July's Richmond Fed printed +10 (up from a revised lower -10 in June). This is the 2nd biggest MoM spike since 1998 (the biggest being March's insane spike). This beat is a 7 standard deviation beat over expectations among the 9 economists tracking it with none of them forecasting a gain at all. Across the board components improved with a surge in employees, workweek and the biggest jump in new orders since 1998!

"This Scares The Hell Out Of Me" - ISIS Claims Responsibility For First German Suicide Bombing In Years

The suicide bomber who blew himself up outside a German concert, injuring 15, had declared allegiance to the leader of Islamic State, Bavarian Interior Minister Joachim Herrmann said. "A video with a corresponding threat of an attack made by the assailant was found on his cellphone, in which he declares in Arabic…in the name of Allah allegiance to Abu Bakr al-Baghdadi, a known Islamist leader, and threatens vengeance against Germans because they stand in Islam’s way."

"It's Not Panicking If You're First" - China Devaluation Is Closer Than Anyone Thinks

People are assuming there’s only one way to fight a war today of global proportions. We're not in that camp. We believe it will come monetarily – not military. At least at first. For once it takes place all bets are off as to what happens next. The obvious first mover advantage for China (and all its current allies) would be to use the rhetoric coming out of the current U.S. political arena, along with current, as well as proposed monetary policies via the Fed, ECB, and Japan.