Someone within the White House should probably explain why the vote-rigging, convicted felon, Robert Creamer visited the White House over 200 times during the Obama administration, including 45 visits with the President himself.
Philippine President Rodrigo Duterte arrived in China to meet with Chinese Premier Xi Xinping. Duterte has become a very controversial figure in Asian politics as he has publicly excoriated U.S. President Barack Obama’s treatment of him and his country. Duterte's trip to China this week is very bad news for Clinton and Obama and it is very likely that the Asian Pivot policy will unravel in short order.
Gold remains the asset Wall Street loves to hate. It is currently under pressure due to the recent increase in rate hike odds and there was definitely a need for stale long positions to be cleared out. When we see the mainstream gang up on gold so quickly though, we tend doubt that the bears will be correct. Of course we have no crystal ball either, but we remain convinced that the monetary experiments of recent years will end quite badly.
It is critical for the markets to “hang on” to current support at the previous breakout highs. A failure to do so will put the markets back into the previous trading range that has existed going back to 2014.
It has become commonplace to note that the 2016 election campaign is unlike any America has seen before. Whether it is the issues brought to the fore, the number of scandals, or the intensity of the personal invective, it is hard to believe we are now within the bounds of what our founders had in mind.
Political risks in Europe are on the rise as the once prosperous middle class are forgotten, both financially (cannot compete with low cost Chinese workers) and culturally (if you do not like what is happening to your neighborhood you are a deplorable and irredeemable racist bigot and we do not need to listen to you). Losing life savings as deposits are bailed in left and right will be the straw that bring down any pretense of political correctness.
The economy has gone suicidal. It is working against the very people who need its energy to survive. It is collapsing on its own weight, and the weight of literally incalculable levels of toxic debt. And it is going to create the greatest disaster of our time, if the warnings from the world’s most powerful bankers are any indication.