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Paul Singer: "Donald Trump Will Cause A Widespread Global Depression"

It was not unti today, one day after Trump revealed the full extent of his trade program, that Singer lashed out and revealed the full extent of his loathing for Trump. During a discussion at the Aspen Ideas Festival in Colorado, Singer told CNBC that "the most impactful of the economic policies that I recall him coming out for are these anti-trade policies," Singer said "And I think if he actually stuck to those policies and gets elected president, it's close to a guarantee of a global depression, widespread global depression."

For Those Who Still Care About Fundamentals, A Troubling Chart

We realize that fundamental analysis, especially in light of recent events, is dead and buried, but for those few who still keep track, here is a troubling chart showing how fast the S&P's cash flow is sinking relative to its debt load. As Bank of America helpfully points out, the USA is now trading at 13x EV/EBITDA, a 90th percentile since 1995.

Germany Just Blew Up Italy's Bank Bailout Plan

Germany opposes any attempt to shield private bank investors from losses if Italy pushes ahead with plans to recapitalize lenders. Merkel’s government says that European Union rules on handling struggling banks should apply in any rescue effort, including forcing losses on shareholders and some creditors before public money can be injected. The government in Berlin rejects the argument that the U.K. vote to leave the EU constitutes an “exceptional circumstance.”

Islamic State Blamed For Istanbul Terror Attack That Killed 41

With the Ataturk airport damage now largely accounted for, it's time to cast blame which Turkey was eager to do when Prime Minister Binali Yildirim said in televised remarks that the Islamic State is likely responsible for the killings. “Once again, it has been understood that terrorism is a global threat to all countries and nations and must be fought through mutual cooperation,” Yildirim said. “Our country has the necessary power and determination to overcome over these heinous attacks.”

16 Reasons To Celebrate Brexit's Win

Could Brexit turn out to be a mistake? Yes. Unfortunately, we live in an uncertain world with imperfect knowledge. We can only guess at the future. However, Britain has been capably governing itself for hundreds if not thousands of years. In that light, Brexit appears likely promote the right people and ends.

"We The Prisoners": The Demise Of The Fourth Amendment

Aided and abetted by the legislatures, the courts and Corporate America, the government has been busily rewriting the contract (a.k.a. the Constitution) that establishes the citizenry as the masters and agents of the government as the servants. We are now only as good as we are useful, and our usefulness is calculated on an economic scale by how much we are worth - in terms of profit and resale value - to our “owners.” Under the new terms of this one-sided agreement, the government and its many operatives have all the privileges and rights and “we the prisoners” have none.

How They Hedged Brexit: Soros Was Short Deutsche Bank, Druckenmiller Was Long Gold

Soros Fund Management took a short position in Deutsche Bank AG of about 7 million shares, or a total notional of about $100 million, as turmoil from the U.K.’s decision to leave the European Union sent bank stocks lower. The position taken on Friday was equivalent to 0.51 percent of Deutsche Bank’s share capital, according to a German filing published on Monday. The document doesn’t show at which price the fund took the position.

The End Game Of Bubble Finance - Political Revolt

During Friday’s bloodbath we heard a CNBC anchor lady assuring her (scant) remaining audience that Brexit wasn’t a big sweat. That’s because it is purportedly a political crisis, not a financial one. Here’s a news flash. That’s all about to change. The era of Bubble Finance was enabled by a political abdication nearly 50 years ago. But as Donald Trump rightly observed in the wake of Brexit, the voters are about to take back their governments, meaning that the financial elites of the world are in for a rude awakening.

US Banks Are Crashing

"Fortress balance sheets"?  Brexit contagion is spreading as USD liquidity and counterparty risk in the interconnected global financial system has reached US banks with Goldman at 3 year lows and BofA and Citi plunging over 12%. This happens just two days after the Fed released its latest stress test results finding that none of the 33 banks tested would need additional capital in case of a "severe" financial crisis.

"Frack Master" Busted For Blowing Investor Cash On "Whore Card"

Texas businessman Chris Faulkner charmed hundreds of investors and major media companies into believing he had extensive experience in energy markets, but, as Bloomberg reports, it turns out the self-proclaimed "frack master" had none and that at least $30 million he raised was spent on strippers, escorts, lavish vacations and other personal expenses.

How The Pentagon Is Preparing For A Tank War With Russia

“What’s necessary is political accommodation, is what needs to happen, if we don’t conduct operations and plan campaigns in a way that gets to the political accommodation,” he said. “The most important activity will be to broker political ceasefires and understandings.” Sometimes that happens at the end of a tank gun...