"All financial crises are the same and different at the same time. They are the same when it comes to the dynamics of contagion, illiquidity, bank failures and the high-panic state in which everyone in the world wants his money back at the same time. Yet each crisis is different in its specific causes."
"All capital or other expenditures above a million dollars, or where a set of related expenses may accumulate to a million dollars over the next 12 months, should be considered on hold until explicitly approved by me."
"The Deep State funds the ongoing civic decay in order to keep the public distracted by inconsequential social issues. Fantasizing about a savior coming to the rescue and singlehandedly solving our problems is wishful thinking. Denial is not a plan. It is time to face the hard truths."
"Although we are miles away from being inverted as the front part of the curve is still relatively steep, the market is sending signals that the end of the tightening cycle might be in sight... The market will know before any Federal Reserve official. There is no better signal than the yield curve."
"So rather than trying to shoehorn a coherent and all-encompassing explanation of current price action, this is one of those times where you may just need to go with the flow. Even if at times those flows seem wholly at odds with each other."
The Trump administration is rolling out a new “Buy American” initiative aimed at allowing more countries to buy "more and even bigger weapons" and will loosen U.S. export rules on equipment ranging from fighter jets and drones to warships and artillery.
Russian ETFs are sliding after National Economic Council Director Larry Kudlow denied WaPo's report that President Trump was halting Russian sanctions, instead confirming that there is "no confusion" in The White House - more Russian sanctions are under consideration...