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Bannon Ousted From The White House

“White House Chief of Staff John Kelly and Steve Bannon have mutually agreed today would be Steve’s last day. We are grateful for his service and wish him the best” - The White House.

These Are The Top 50 Hedge Fund Long And Short Positions

In an unexpected turnaround, for once hedge funds aren't sucking (if still underperforming both the S&P and the average mutual fund): for those who believe in piggybacking, here are the Top 50 most popular longs and shorts within the HF community.

"A Volatile Autumn": Buckled Up For Structured Criticality

Structured criticality is a property of complex systems in which small events may trigger larger events due to subtle interdependencies between elements. This often gives rise to a form of stratified chaos where the general behavior of the system can be modeled on one scale while smaller- and larger-scale behaviors remain unpredictable.

US Manufacturing Drops In July As Auto Production Slumps

Industrial Production, leaked early, rose just 0.2% MoM in July, missing expectations and slowing from last month's 0.4% gain. Manufacturing production actually shrank (-0.1%) hurt by a 3.6% plunge in motor vehicle production.

Korea And Venezuela: Flip Sides Of The Same Coin

"By suggesting that he might order a US regime-change invasion of Venezuela, President Trump has inadvertently shown why North Korea has been desperately trying to develop nuclear weapons - to serve as a deterrent or defense against one of the US national-security state storied regime-change operations..."

"Sleepwalking Into An Even Worse Version Of The 1930's Depression"

"Governments around the world do not seem to understand the situation we are facing. In large part, this is happening because economists have built models based on their view of how the world works...We seem to be sleepwalking into an even worse version of the Depression of the 1930s."

Can The Permian Push Oil Prices Down To $40?

Two analyst firms have revised upwards their production growth forecasts for the Permian, expecting oil output there to be 300,000 bpd higher by the end of this year...That’s the kind of consensus market players like to see, especially when it comes a couple of days after reports that investors are pulling out from the Permian.