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Household Wealth Hits A Record $96.2 Trillion… There Is Just One Catch

In the Fed's latest Flow of Funds report, today the Fed released the latest snapshot of the US "household" sector as of June 30, 2017. What it revealed is that with $111.4 trillion in assets and a modest $15.2 trillion in liabilities, the net worth of US households rose to a new all time high […]


What Catalyst Could Trigger A Credit Risk-Off Event? Here’s The UBS Answer

“What is THE catalyst?” As all traders know, and as UBS repeats this morning in a new report by credit strategist Matthew Mish, one if not the mostly commonly asked questions is “what events could disrupt global corporate credit markets heading into year-end and early 2018.” Also, as traders may or may not also know, […]


World’s Richest Woman Dies Age 94

Alice Walton, of Wal-Mart family infamy, is now the richest woman in the world, as The FT reports Liliane Bettencourt, the heiress of cosmetics giant L’Oreal and world’s richest woman, has died at the age of 94. The FT details that Bettencourt was the daughter of chemist Eugène Schueller, who founded the company in 1909. […]


The Fed Balance Sheet Reduction is a Distraction From the REAL Crisis

Everyone is making a big deal about the Fed's so-called "balance sheet reduction” which starts next month. Let’s assess some facts. First of all, the Fed plans on shrinking its balance sheet by $10-$30 billion per month. The Fed balance sheet is currently $4.5 trillion. So at this pace of unwinding it would take somewhere […]


Equifax Accidentally Directs 200,000 Customers To Fake Phishing Website

And the hits just keep coming for Equifax, the once-trusted credit-monitoring firm that has been embroiled in one of the biggest corporate public-relations disasters in recent memory since disclosing that hackers had penetrated its cyber security defenses and absconded with sensitive personal and financial data belonging to 143 million Americans. Because of the types of […]


1 In 5 Students Endorse Violence To ‘Prevent’ Controversial Speakers

Authored by Nikita Vladimirov via CampusReform.org, A new survey published by The Brookings Institution finds that about one-in-five undergraduate students approve of using violence to shut down controversial speakers. A majority of undergraduate students at U.S. four-year colleges and universities also agreed with a hypothetical protest in which a group “opposed to the speaker disrupts […]


Jamie Dimon Faces Market Abuse Claim Over “False, Misleading” Bitcoin Comments

A week after Jamie Dimon made headlines by proclaiming Bitcoin a "fraud" and anyone who owns it as "stupid," the JPMorgan CEO faces a market abuse claim for "spreading false and misleading information" about bitcoin. Unless you have been living under a rock for the past week, you will be well aware of JPMorgan CEO […]


“Whole Towns Have Been Wiped Out” Hurricane Maria Devastates Dominica; Death Toll Climbs To 15

Update (1:00 pm ET): The prime minister of Dominica says the death toll from Hurricane Maria has risen to 15, with 20 people still missing, according to the Associated Press. He expects the death toll in the island's villages to rise. * * * In a testament to the sheer power of Hurricane Maria, the […]


“Whole Towns Have Been Wiped Out” Hurricane Maria Devastates Tiny Caribbean Island Of Dominica

In a testament to the sheer power of Hurricane Maria, the most destructive storm to hit the Caribbean in nearly a century, civilization on the tiny island of Dominica was essentially wiped out after Maria – then a category 5 storm – battered the island with 160 mph gusts, leveling whole towns and wiping out […]


Stock Market Bubbles In Perspective (Or Why “This Won’t End Well”)

Authored by Howard Ma via Meritocracy Capital, Last week marked the 9th anniversary of the collapse of Lehman Brothers. It was one of the biggest milestones of the Global Financial Crisis (“GFC”) that began approximately a year earlier in 2007. Corporate earnings were abnormally weak during the GFC. I bring that up because a much […]


Albert Edwards: “Citizen Rage” Will Soon Be Directed At “Schizophrenic” Central Banks

Perhaps having grown tired of fighting windmills, it was several weeks since Albert Edwards’ latest rant against central banks. However, we were confident that recent developments out of the Fed and BOE were sure to stir the bearish strategist out of hibernation, and he did not disappoint, lashing out this morning with his latest scathing […]


Apple Stock Slump Continues – Tests Key Technical Support

Apple share price continues to tumble since it unveiled the iPhone 8 and X, following yesterday's triple whammy of bad news. Back at it lowest since August 1st's after-hours spike on earnings, AAPL is now testing the key 100-day moving average…   And as goes AAPL, so goes the Nasdaq.. again Time for The SNB […]


Embrace The Suck: Debt-Serdom and Our Neofuedal Status Quo

Authored by Charles Hugh Smith via OfTwoMinds blog, Democracy (i.e. political influence) and ownership of productive assets are the exclusive domains of the New Aristocracy. I have often used the words neoliberal, neocolonial and neofeudal to describe our socio-economic-political status quo. Here are my shorthand descriptions of each term: 1. Neoliberal: the commoditization / financialization […]


To Prevent Rebellion, Spain Docks Cruise Ship Housing 16,000 Riot Police In Barcelona Port

Efforts by Madrid to stop a Catalonia independence vote, currently slated for October 1st, seem to be growing more hostile by the day.  Earlier this week Spanish police seized control of Catalonia’s finances, seeking to ensure that separatist politicians could not spend further public funds on the referendum, and conducted raids across Catalonia to confiscate […]