"Most people are too lazy to think critically and, thus, propaganda becomes hypnosis. It’s how lies travel the world as the truth ties its shoes. It is why, in America today, citizens are labeled as Deplorables and the children of illegal immigrants are called Dreamers. It’s how guns are guilty..."
Guggenheim's Scott Minerd became the latest respected investor to declare that the widening Libor-OIS spread (which we've been pointing to for the past month) is the most overlooked trend in markets right now.
"We’ve been there before, in the crash of the dot-com bubble of 2000, when we believed that downloading pop music and porn would drive the economy of the future. We’ve done it again... Internet community and Artificial Intelligence were the two blasts of hot air that inflated the bubble."
"China is not afraid of and will not recoil from a trade war. If a trade war were initiated by the U.S., China would fight to the end to defend its own legitimate interests with all necessary measures."
In a major development for Mueller's probe of Trump collusion with Russia obstruction of justice, moments ago NYT reported that Trump's lead lawyer for the special counsel investigation, John Dowd, resigned on Thursday as Trump was "increasingly ignoring his advice."
"it’s only with some great trepidation I’d say anything positive about the president in this crowd, or any crowd. But I would say that one of the things I admire is the way he disintermediated the press."
"For the past 30 years fiscal deficits have been a big financial nothingburger because the Fed and other central banks gutted their sting... weaning politicians of the one element that kept modern Big Government fiscally contained."