There Is No Recovery: Sucking Spoilt Milk From A Bloated Dead Sow

"With US GDP growth ‘officially’ back where it belongs, in the Arctic zone close to freezing on the surface but much worse in real life, for reasons both Albert Edwards and Ambrose Evans-Pritchard (not exactly a pair of Siamese twins) remarked this week; that is, excluding the 'biggest inventory build in history, the economy contracted sharply', it’s time for everyone to at long last change the angle from which they view the world, if not the color of their glasses."

Filipinos Asked To Turn Off Fridges To Save Power For Pacquiao-Mayweather Fight

If there is one thing more likely to incite wide-spread social unrest in the Philippines than watching Manny Pacquiao lose to Floyd Mayweather tonight, it is Filipinos not being able to watch it all... and that is why, as The South China Morning Post reports, residents of the western Philippines are being asked to turn off their refrigerators so there will be enough electricity to watch tonight's fight. However, Rante Ramos, secretary of the electrical cooperative on the island of Palawan, warned, even with help, there is likely to remain a power shortfall and "some circuits may inevitably be switched off."

Markets Are Stirring: Complacency Meets Froth

Peering into the froth of a cappuccino, we noticed various sized bubbles. There is a fine line between froth and bubbles. As we continued our gaze, both eventually disappeared. Stirring made the frothy bubbles disappear more quickly. Markets are beginning to stir (more later). Unsustainable states ultimately end.

Uber Offices Raided In China After "Illegal Operator" Crackdown

Despite claiming that its “people’s Uber” service in China, involving private drivers, is simply a type of car-pooling service; the bubblicious company continues to burn its series ZZ financings on legal briefs around the world. That appears to be a total waste when it comes to China as IBTimes reports, police, transport and commercial officials in the southern Chinese city of Guangzhou have raided the local offices of online car service company Uber, amid continuing tension in China over the legality of ride-booking apps using private vehicles, which officials say have disrupted the country’s heavily regulated taxi market.


Q: How do you make a small fortune on Wall Street?

A: Start with a large fortune.

~ old investing adage

Russia Preparing Offensive In Ukraine, NATO General Imagines

U.S. Air Force General and NATO supreme allied commander Philip Breedlove is ratcheting up the rhetoric by suggesting to the Senate that Russia is planning to shatter what remains of the fragile ceasefire in Ukraine by launching an imminent offensive. “Many [Russian] actions are consistent with preparations for another offensive,” the general said, without fully explaining how he came to his conclusion.

Why Dan Loeb Refuses To "Sell In May And Go Away"

"We remain constructive on the US for three reasons: 1) economic data should improve in the next few quarters; 2) the Fed does not seem to be in any rush to move early and a June rate hike seems unlikely; and 3) while investors are focused solely on the first rate raise, we think the overall path higher will be gradual, in contrast to previous rate shifts. These factors should create an environment where growth improves and monetary policy stays flexible, which is generally good for equities (higher multiples notwithstanding). We may follow last year’s playbook and ignore the old adage to “sell in May and go away.”

Lowes Drops After Lumber Liquidators' Short Says They Also Sold Toxic Flooring

Lowes' stock is down 2.5% in the pre-open (after notable weakness yesterday) despite the broad market's bounce, following reports that the home improvment retailer sold the same 'toxic' flooring as Lumber Liquidators:


Zhou intends to present the report proving this later today and for now Lowes has said its flooring is safe and compliant with regulations.

China, Russia Unveil First-Ever Mediterranean Joint Naval Exercise

Sabre-rattling much? For the first time in history, Chinese and Russian navies will begin a significant joint naval exercise in The Mediterranean Sea in mid-May. As RT reports, Chinese Defense Ministry spokesman Geng Yansheng, "The aim is to deepen both countries' friendly and practical cooperation, and increase our navies' ability to jointly deal with maritime security threats," but diplomatically added "these exercises are not aimed at any third party and have nothing to do with the regional situation." Against a background of this week's "upgraded Japan-American military relationship" following Abe's visit to Obama, as one analyst notes, "the geopolitical significance of its exercising alongside Russia will not be lost on the U.S. and NATO."