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Under Armour Collapses, Down 75% From Highs After Cutting Outlook (Again)

From bad to worse. Under Armour is now down over 75% from its September 2015 – do no wrong – record highs, plunging 14% in the pre-market after slashing full-year guidance again. While it beat earnings expectations (22c vs 19c exp), UA reported a 4 percent dip in revenue to $1.41 billion, its first decline […]

Why Is Bitcoin A Big Deal?

Authored by Charles Hugh Smith via OfTwoMinds blog, Centralized banking and all other forms of intermediary rentier skims are presented as solid. If history is any guide, these supposedly solid entities may well melt into air. Why is bitcoin considered such a big deal? Why has it grabbed so much mind-share, and why is it […]

Eurozone Inflation Unexpectedly Cools

In the latest headache for Mario Draghi, the Eurozone's closely watched CPI weakened to 1.40% year-on-year in October 2017 versus expectations of 1.50% and a reading of 1.50% the previous month. As a reminder, according to the ECB's September forecast, HICP inflation is expected to rise to 1.5%, leaving little margin for deflation in the […]

US Futures Rebound After Disappointing Chinese, European Data

Yesterday’s sharp Chinese selloff is now a distant memory after the BTFDers emerged, and this morning U.S. equity futures are once again levitating as the FOMC begins its two-day policy meeting, following an uneventful BOJ announcement on Tuesday morning which left all QE parameters unchanged. Asian stocks traded mixed steady while European shares climb. The […]

Apple To Dump Qualcomm Chips As iPhone 8 Sales Collapse In China

The bitter legal dispute between Apple and Qualcomm has escalated sharply overnight as the former designs out Qualcomm components from future products. According to the WSJ, Apple, locked in an intensifying legal fight with Qualcomm, is designing iPhones and iPads for next year that would jettison the chipmaker’s components. Apple is considering building the devices […]

Europe Will Reap What Spain Has Sown

Authored by Wayne Madsen via The Strategic Culture Foundation, The Spanish government decided to reach back into its history and borrow from the playbook of longtime Spanish fascist dictator Francisco Franco in dealing with Catalonia’s decision to declare independence from the Spanish Kingdom as the Republic of Catalonia. The Catalan government’s decision to declare independence […]

BoE Expected To Vote 6-3 For Rate Increase And Signal Markets Underpricing Future Hikes

The last time the Bank of England raised rates was July 2007, when rates increased to 5.75%. Credit markets began to dislocate a month later (when LIBOR diverged from Fed Funds), equity markets peaked three months after the increase and things eventually got much worse. So, the track record is not auspicious, but the alleged […]

Chinese Police Foil Plot To Assassinate Kim Jong Un’s Nephew

As the two women who fatally poisoned Kim Jong Nam with a toxic nerve agent face the gallows in a Malaysian murder trial, Bloomberg is reporting that Chinese police have broken up a plot purportedly masterminded in North Korea whereby a group of men were dispatched to Beijing to murder Jong Nam’s son, 22-year-old Kim […]

Visualizing America’s Most Polarizing Brands

Due to some players kneeling during the national anthem to protest police brutality against black people in the United States and the subsequent hostile response from the president, the NFL has been dominating headlines recently. The issue is highly politicized, with opinions largely split down party lines. In fact, as a survey by Morning Consult shows, it has become […]

Chris Hedges: Our Ever-Deadlier Police State

Authored by Chris Hedges via TruthDig.com, None of the reforms, increased training, diversity programs, community outreach and gimmicks such as body cameras have blunted America’s deadly police assault, especially against poor people of color. Police forces in the United States – which, according to The Washington Post, have fatally shot 782 people this year – […]

Nevada Rancher Cliven Bundy Goes On Trial For 2014 Armed Standoff With Federal Agents

Nevada rancher Cliven Bundy is officially set to go on trial this week for his role in leading a 2014 armed standoff against federal agents that became a rallying point for militia groups challenging U.S. government authority in the American West.  As Reuters notes, jury selection is slated to start later this morning in a […]

Japanese Stocks, USDJPY Rise After BoJ Leaves Policy Unchanged

With the Nikkei 225 having only suffered one down day (so far) in the whole month of October (a record), The BoJ decided it's better not to rock the boat and left monetary policy unchanged, as expected.   With new members at The BoJ, there was perhaps some uncertainty about Kuroda's decision today…   Boradly […]

California Clears First Hurdle In Effort To Split Into Three States

After several failed Calexit attempts over the past several months (see: CalExit 3.0: New Petition Calls For Cali Secession…3rd Time’s A Charm?), tech billionaire Tim Draper is pursuing yet another major shakeup in the Golden State.  According to the New York Times, Draper is convinced that a state of 40 million people is simply “ungovernable” […]

Renting In The US Has Never Been More Unaffordable

Over the weekend, when looking at the record high ratio in median new home sale prices to household incomes in the US, we concluded that US homes have never been more unaffordable for the average American.   What about renting? Isn’t it intuitive that if buying a house has never been more expensive, then at […]

Manafort, Gates Under House Arrest After Pleading “Not Guilty” To Mueller Charges

Update: Manafort and Gates have been released to house arrest while they scramble to gather money for their bail, set at $10 million and $5 million, respectively, after pleading not guilty to a 12-count indictment charging them with making tens of millions of dollars while secretly working for the Ukrainian government and then hiding the […]