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Welcome To LaLa Land As Market Jettisons Tail Risks By Simon White, Bloomberg Markets Live reporter and analyst The economy is signaling a more volatile, potentially recessionary period. Markets, however, aren’t paying attention. Not only are the twin tail risks of a downturn or resurgent inflation being ignored, but a near-impossible “immaculate acceleration” of boomy growth and benign price appreciation is becoming the base case. It’s not the first time that markets and the economy have been at odds, but this is one of the most egregious. Just as the economic mood music becomes more somber and underlying signs of

Futures Flat At All Time High As Markets Mull Next Move US index futures are flat after notching new record highs on the S&P 500 and Nasdaq 100, spurred on by a miss in the US CPI print and retail sales data on Wednesday, which also boosted bets the Federal Reserve will ease policy. That inflation data, which the market was feverishly anticipating, was inadvertently published 30 minutes early the BLS reported, raising fresh questions about how some of the world’s most sensitive economic information is released. As of 7:30am, S&P and Nasdaq futs are up 0.1% with small caps

What About The Non-Superstar Companies That Account For 85% Of US Jobs By Dhaval Joshi of BCA Research The Superstar Economy The stellar performance of the S&P 500 superstars is not representative of the profits of wider corporate America. For the direction of the US jobs market, we should closely monitor the profits of the 6.4 million non-superstar US companies that account for 85 percent of US jobs. These profits have been softening. The US stock market’s record 50 percent valuation premium versus the non-US stock market is pricing generative AI to do through the next decade what the Web

Commodity Index Hits Highest In Year As Sticky Inflation Becomes Nightmare For Fed  About a month ago, HSBC Global Research noted a forecast for a "weak" bull market in commodities. New data shows that the US Consumer Price Index (CPI) for April rose by .3% from the previous month and by 3.4% year-over-year. Although inflation is still increasing, it is doing so at a slower pace. Meanwhile, in Asia, Beijing is working to stabilize its economy. Amid these developments, commodity prices, tracked by Bloomberg, have reached their highest level in a year. This poses a serious threat for Fed Chair Powell's

'So Much For Democracy'? Blinken Justifies Ukraine Canceling Elections Authored by Dave DeCamp via AntiWar.com, Secretary of State Antony Blinken made an unannounced visit to Ukraine on Tuesday and delivered a speech where he justified President Volodymyr Zelensky’s decision to postpone elections. Presidential elections were due to be held in March, but they weren’t, and Zelensky will remain in office after his term ends on May 20. Ukrainian parliamentary elections were scheduled to be held last year in October, but they were also canceled. On Tuesday night Blinken put on a concert at a bar in Kyiv. Zelensky and other Ukrainian officials have

These Are Africa's Most Powerful Passports The Seychelles has the most powerful passport in Africa, followed by Mauritius and South Africa, according to the Henley Passport Index 2024. This index ranks passports based on the number of destinations their holders can access without a prior visa. As Statista's Anna Fleck shows in the following chart, citizens from Seychelles can travel to 156 destinations without a visa organized beforehand. In a global comparison, the country ranks 26th, joint with St. Kitts and Nevis in the Caribbean as well as Uruguay in South America. Mauritius ranks 29th globally alongside Trinidad and Tobago and

"West's Governments Need War" Warns Martin Armstrong "Because Their Debts Are No Longer Sustainable" Interview with Martin Armstrong by Piero Messina for SouthFront Martin Armstrong is one of the most influential economists of our times. Someone called him the “Forecaster”, because that was the title of the biopic film that helped make his activities known throughout the world. Those of Martin Armstrong are not just “predictions”, as his reflections are based on the compendium of precise mathematical formulas and analytical skills. We interviewed him to try to understand the current geopolitical context. From the crisis of Western democracies to the birth of the BRICS front

Google's Smartphone Loyalty Problem Google's latest smartphone, the Pixel 8a went on sale this week - a more affordable version of October's Pixel 8 and Pixel 8 Pro, with which the tech giant aims to wrestle more of the market out of Apple's and Samsung's hands. While the devices and their AI-driven software may well win over new customers, Statista's Martin Armstrong reports that data from the Statista Consumer Insights survey suggests Google's biggest battle could be to hold onto the ones they've already got. When asked how likely they were to change to a different smartphone brand at the next opportunity, over half

Hezbollah Leader Threatens To "Open The Sea" To Flood Europe With Migrants Authored by Paul Joseph Watson via Modernity.news, Hezbollah leader Hassan Nasrallah urged Lebanese authorities to ‘open the sea’ in order to flood Europe with a new wave of migrants. Nasrallah made the remarks during a televised address at a rally marking the eighth anniversary of the assassination of late Hezbollah Resistance military commander Mustafa Badreddine. The militant leader called for “a national decision that says: we have opened the sea… whoever wants to leave for Europe, for Cyprus, the sea is in front of you. Take a boat

Get Woke, Go Broke: New "Queer" 'Doctor Who' Suffers Worst Ratings In Series History Woke activists today often like to hearken back to nostalgic media from the 1960s; what they consider the golden era or genesis moment of far-left movements in British and US history.  These were the days when being a progressive was considered "counter-culture" and cool, with every major rock star and celebrity tapping into youth angst and hippie philosophy.  The progressive shift led to considerable social instability in the 1970s. It is common these days to hear leftists in popular media argue that TV shows like Star

Israel Will 'Set Sights' On Turkey If Hamas Defeated, Erdogan Claims Via The Cradle Turkish President Recep Tayyip Erdogan warned on 15 May that Israel would "target" Turkey if victorious against the Hamas and other Palestinian militants in the Gaza Strip. "Israel will not stop in Gaza, and if not stopped, this rogue state will eventually target Anatolia with its delusions of a promised land," Erdogan said during a parliamentary group meeting in Ankara. "We will continue to stand by Hamas, which fights for the independence of its own land and which defends Anatolia," the Turkish president stressed. Turkey's Erdogan Erdogan

Escobar: De-Dollarization Bombshell - The Coming Of BRICS+ Decentralized Monetary Ecosystem Authored by Pepe Escobar, Get ready for what may well be the geoeconomic bombshell of 2024: the coming of a decentralized monetary ecosystem. Welcome to The Unit  – a concept that has already been discussed by the financial services and investments working group set up by the BRICS+ Business Council and has a serious shot at becoming official BRICS+ policy as early as in 2025. According to Alexey Subbotin, founder of Arkhangelsk Capital Management and one of the Unit’s conceptualizers, this is a new problem-solving system that addresses the key

Environmental Protection Not A Major Issue For Majority In a survey of 38 countries carried out by Statista Consumer Insights, only between 21 and 44 percent of respondents said that they considered environmental protection a major issue for their country. As Statista's Katharina Buchholz reports, respondents in Brazil were the most concerned about the environment, with those in Mexico and Colombia also rating environmental protection as more important than most countries in the survey. You will find more infographics at Statista The picture was more mixed in Asia, with Indonesians seeing the issue as highly important, while respondents in Indian and China hit

A Nanny State Idiocracy: A Tale Of Too Many Laws And Too Little Freedom Authored by John & Nisha Whitehead via The Rutherford Institute, “Whether the mask is labeled fascism, democracy, or dictatorship of the proletariat, our great adversary remains the apparatus—the bureaucracy, the police, the military.” - Simone Weil, French philosopher We are caught in a vicious cycle of too many laws, too many cops, and too little freedom. It’s hard to say whether we’re dealing with a kleptocracy (a government ruled by thieves), a kakistocracy (a government run by unprincipled career politicians, corporations and thieves that panders to the worst vices in

Convicted Non-Violent Felons Can Own Guns, Ninth Circuit Rules In what must be the first time California's 9th circuit has ruled in favor of the 2nd Amendment, non-violent convicted felons can now own guns. The decision stems from a 2020 case, in which California resident Steven Duarte was arrested after tossing a handgun out of a moving car during a traffic stop. He was indicted by a federal grand jury for possessing said firearm while being previously convicted of "a crime punishable by imprisonment for a term exceeding one year" in violation of the federal “felon-in-possession” law. A customer shops

Toxic Atmosphere At FDIC Spurs Calls For Chair's Resignation Authored by Philip Wegmann via RealClearPolitics, The White House did not offer their full faith and credit to the FDIC chairman when asked by RealClearPolitics about a bombshell 234-page investigation that detailed a toxic environment within the agency. Other than noting that Martin Gruenberg, the official in question, had already “apologized and spoke[n] to” allegations that he presided over a culture of bullying, harassment, and mismanagement, Karine Jean-Pierre, the president’s spokeswoman, mostly demurred. Gruenberg will not skate by so easily when he testifies before Congress this week. Republicans in both the

"Make Innocence Great Again": Mothers Gear Up To Decide The 2024 Elections Authored by Russ Jones via The Epoch Times (emphasis ours), A voter casts her ballot with her child during the midterm primary election at a polling station at Rose Hill Elementary School in Alexandria, Va., on June 21, 2022. (Alex Wong/Getty Images) “Make innocence great again.” It’s a mantra that Juliana Ormond feels strongly about. The suburban mom of three children seeks to call attention to the importance of preserving the purity and innocence of childhood. She said she desires a return to a time when she contends

Boeing Could Face Criminal Prosecution Over 737 MAX Crashes: Justice Department Authored by Jacob Burg via The Epoch Times (emphasis ours), The U.S. Department of Justice determined on May 14 that Boeing violated a deferred prosecution agreement that allowed the aerospace company to evade criminal charges after two crashes of its 737 MAX jet that killed everyone on board. The logo for Boeing appears on a screen above a trading post on the floor of the New York Stock Exchange on July 13, 2021. (Richard Drew/AP) Justice Department prosecutors delivered the news to a federal judge on May 14 after

Glenn Greenwald Makes An Important Prediction On Ukraine It was Tuesday night that Secretary of State Antony Blinken was leading a bizarre rock anthem as the guitar and vocals front man at a Kiev bar, singing Neil Young’s "Rockin’ in the Free World" — and the internet collectively cringed. But only the next morning, on Wednesday, Ukrainian President Volodymyr Zelensky declared he was canceling all upcoming foreign trips at a moment his forces are getting hammered in the Kharkiv region. "Volodymyr Zelenskyy has instructed that all international events scheduled for the coming days be postponed and new dates coordinated. We are

FBI And DHS Issue Warning On Foreign Terrorist Groups For June "Pride Month' Authored by Jack Phillips via The Epoch Times, The FBI and U.S. Department of Homeland Security (DHS) issued a public service announcement saying that foreign terrorist organizations like ISIS and related terrorist organizations could target certain events across the United States during “Pride Month”-related events in June. “Organizations like ISIS may seek to exploit increased gatherings associated with the upcoming June 2024 Pride Month,” the announcement said. The two agencies said the terror threat is “compounded” by the “current heightened threat environment” in the United States. The

France Declares State Of Emergency, Sends Troops, To Quell Deadly Riots In Pacific Territory French President Emmanuel Macron has declared a 12-day state of emergency starting Wednesday as a result of deadly riots which have gripped France's Indo-Pacific territory of New Caledonia. Four people died and many others were wounded in clashes with police Tuesday night, with reports of looting and buildings burned to the ground. The mayhem was sparked by a vote in France's parliament, the National Assembly, which authorizes residents who've resided in New Caledonia for 10 years to cast ballots in provincial elections. Car with flag of the Kanak and

Al Gore Said The Ice-Caps Would Be Gone By 2014... Yes 2014! Authored by Martin Armstrong via ArmstrongEconomics.com, The Press refuses to hold all of these failed Climate Change forecasts to task... All they do is keep moving the date for our doom, all due to CO2. In fact, the real crisis is the continued weakening of the magnetic field, which leads to pole shifts about every 43000 years – yes, that conforms to the ECM frequency. The major shifts we discovered from the data scientists provided us came out to be 720,000 years. Either way, they both seem to be lining

Mississippi Passes Law Banning Trans-Friendly Bathroom Policies In Public Schools A lot of Americans are asking how we so quickly got to a point where a man could simply declare he is the opposite sex, throw on a wig and a leotard, and then walk into a women's restroom while being protected by government officials?  In some Democrat controlled states if you try to stop these people from doing this you could even be arrested or sued.  Even worse, the gender ideology has now infiltrated public schools where young and vulnerable children are subject to trans exceptionalism.   How did

Thousands Of Children Prescribed Ivermectin Or Hydroxychloroquine For COVID: Study Authored by Zachary Stieber via The Epoch Times, Doctors prescribed ivermectin or hydroxychloroquine more than 4,400 times to children with COVID-19 during periods of time when the drugs were not recommended against the illness by authorities, according to a new study. Doctors issued 813 prescriptions of hydroxychloroquine to minors with COVID-19 after the Pediatric Infectious Diseases Society on Sept. 12, 2020, advised against using hydroxychloroquine outside of a clinical trial, researchers found. The recommendation came after the U.S. Food and Drug Administration (FDA) revoked emergency use authorization for hydroxychloroquine against

These Are The Most Polluted Cities In The US According to the World Health Organization, air pollution is responsible for 7 million deaths annually, and could cost the global economy between $18–25 trillion by 2060 in annual welfare costs, or roughly 4–6% of world GDP. And with predictions that 7 in 10 people will make their homes in urban centers by mid-century, cities are fast becoming one of the frontlines in the global effort to clear the air. In this visualization, Visual Capitalist's Chris Dickert uses 2024 data from the State of the Air report from the American Lung Association to show the most polluted cities in the United

US Suspends EcoHealth Funding Over Wuhan Lab Compliance Authored by Zachary Stieber via The Epoch Times (emphasis ours), U.S. officials have cut off funding to a nonprofit that funneled government money to a laboratory in China located in the same city where the first COVID-19 cases appeared. Peter Daszak, president of the EcoHealth Alliance, testifies before the Select Subcommittee on the Coronavirus Pandemic in Washington, on May 1, 2024. (Madalina Vasiliu/The Epoch Times) EcoHealth Alliance (EHA), the nonprofit, “did not adequately monitor” compliance from the Wuhan lab with the terms and conditions of a grant from the U.S. National Institutes

Tyson Foods CEO Unsure When Nation's Collapsing Beef Herd Will Reverse Tyson Foods CEO Donnie King spoke at the BMO Global Farm to Market Conference in Toronto on Wednesday, expressing much uncertainty about when US ranchers will rebuild tight cattle herds meaningfully.  Reuters was the first to report King's comments at BMO's farm conference. He stated ranchers had been pressured in recent years to offload cattle due to high grain costs and drought, which, in return, sent the nation's beef cattle herd plunging to the lowest in more than half a century.  King provided some encouraging news, citing slightly lower grain costs and improved grazing

Slovak PM Robert Fico Expected To Survive; UK Media Appears To Justify Assassination Attempt Update(1840ET): Prime Minister Fico is said to be improving, following reports that he was in surgery due to several gunshot wounds from the Wednesday assassination attempt. Deputy Prime Minister Tomas Taraba has told the BBC he "is not in a life-threatening situation at this moment."  "Fortunately, as far as I know, the operation went well – and I guess in the end he will survive," the statement indicated. Deputy Prime Minister Robert Kalinak has told reporters in a briefing that "there is no doubt" that the attack was a politically motivated assassination

Diesel Takes Another Hit And May Be Driving Down Broader Oil Market By John Kingston of FreightWaves With the benchmark diesel price used for most fuel surcharges down for the fifth week in a row, diesel consumers should be reveling in the fact that market trends appear to have completely thrown out concerns about the Middle East conflict and are focused on the markets for both diesel and gasoline as primary drivers. The Department of Energy/Energy Information Administration average weekly retail diesel price fell 4.6 cents Monday to $3.848 a gallon. The five consecutive declines have taken that price down

'Guns & Butter': Putin Explains Reason Behind Major Cabinet Shake-Up Russian President Vladimir Putin has for the first time explained the rationale behind this week's major cabinet reshuffling, which for the first time of the Ukraine operation saw Sergey Shoigu removed as defense minister (and 'promoted' to head of the national security council), and former minister for economic development Andrey Belousov moved into the defense chief spot. He described the decision as due to the dramatic rise in the defense budget and military spending. Putin said of Belousov: "He understands perfectly well what needs to be done in order for the economy

Money's Grim Future Authored by Alan Lash via The Brownstone Institute, Prepare for total control of your economic life. That is the message from Brownstone Fellow Aaron Day at his 4-hour workshop in San Jose, California last Saturday, May 11th. Day has written the excellent book The Final Countdown, which carefully describes the increasingly aggressive assaults on our freedoms by our government and by the global elites. He has just begun a series of workshops around the country to deliver that message and to show us a way to resist. The book was published just last year, but Day acknowledges during the presentation that

April Cass Data Shows No Improvement In Freight Demand By Todd Maiden of FreightWaves Another month passed without signs a recovery in the freight cycle was on the horizon. “Still waiting for it,” Cass’ April update on volumes and pricing stated. The shipments component of the Cass Freight Index fell again in the month, down 1.6% seasonally adjusted from March and 4% lower year over year (y/y). The Tuesday data showed volumes were hovering around the late 2023-January 2024 cycle trough. The April reading was the lowest since January, which is typically the slowest part of the year and weaker

Biden Readies $1BN In Bombs For Israel Despite Progressive & Swing State Voter Revolt The Biden administration continues to speak out of both sides of its mouth when it comes to Israel and Gaza policy as Progressive Democratic voters continue peeling off in droves, declaring that they can't in good conscience vote for Biden in November. On Tuesday, the contradictions continued and abounded, as the White House informed Congress it is planning a new $1 billion arms transfer to Israel. And ironically this will mark the first new package since Biden earlier this month announced it paused a weapon shipment

Coalition Of States Sue Biden Admin, California Over Electric Vehicle Mandates Authored by Katabella Roberts via The Epoch Times, A coalition of Republican-led states is suing the Biden administration and the State of California in an attempt to prevent new electric vehicle mandates on truck owners and operators throughout the country from going into effect. Two legal challenges were filed over the new emissions rules, Nebraska Attorney General Hilgers said in a statement on May 13. They include a petition for review filed by a coalition of 24 states in the U.S. Court of Appeals for the D.C. Circuit which

America's 'Bunker-Buster' Bomb Production To Triple As World Fractures Into Dangerous Multi-Polar State Munitions stockpiles are running low across the West, whether in Europe or the United States. Supplying Ukraine with arms in its war against Russia has forced Western militaries and defense firms to either make plans or begin boosting the production of bombs, missiles, artillery shells, and suicide drones.   On Tuesday, the US Air Force announced a tripling in its monthly production of the giant 30,000-pound Massive Ordnance Penetrator, known as the "bunker-buster." It's the largest non-nuclear bomb the US has in its stockpiles and can only be deployed by a Northrop Grumman B-2 Spirit

Stimulus Today Costs Dearly Tomorrow Authored by Michael Lebowitz via RealInvestmentAdvice.com, Since the pandemic-related bazooka of fiscal stimulus, the outstanding Federal debt has risen appreciably. In nominal dollar terms, the recent debt surge is mindboggling. However, the increase is on par with the government’s negligent ways over the last fifty years. The red bars show the percentage increase in debt starting in 1966. The bars reset to zero every time they hit 50%. The numbers to the left of each series of bars correspond to the number of quarters it took for every 50% increase. Over the last sixteen quarters

Goldman Warns Copper "Is Having A Cocoa Moment"  In a Goldman Materials note this morning covering China and copper, analyst James McGeoch pointed out that the base metal is "having a Cocoa moment."  Comex copper futures for July delivery jumped nearly 5% to $5.12 a pound, exceeding an earlier record for the most active contract set in March 2022. According to Bloomberg, the short squeeze "prompted a scramble to divert metal in other regions to US shores."   Comex copper futures are breaking out.  Comex copper futures are in one of the biggest-ever backwardation periods - a clear indication of severely tight supply.  "Short spread and futures holders

Bitcoin Paves The Way For A New Era Of Free Market Banking Authored by Nick Giambruno via InternationalMan.com, Hal Finney was a pioneering computer scientist, cryptographer, and prominent Cypherpunk who played a crucial role in the early development of Bitcoin. He was one of the first supporters, contributors, and adopters of Bitcoin. In short, Finney was a visionary who understood Bitcoin’s potential before almost everyone else. In December 2010, Finney wrote: “There is a very good reason for Bitcoin-backed banks to exist, issuing their own digital cash currency, redeemable for bitcoins. Bitcoin itself cannot scale to have every single financial

The Grain That Feeds The World Is At Risk Of An Upside Breakout  Rice is a staple food for over 3.5 billion people worldwide, especially in Asia, Latin America, and Africa. It's grown in over 100 countries, with 90% of the world's rice produced in Asia. We have been tracking the prices of Thai white rice, which surged to 15-year highs in 2023 and has since consolidated at these highs with risks of a further upside breakout.  According to new data from the Thai Rice Exporters Association, Thai white rice 5% broken, an Asian benchmark, rose nearly 6% to $649 a ton, inching closer and closer

Venezuela Moves "Substantial Quantities" Of Troops To Guyana Border By Charles Kennedy of OilPrice.com Venezuela has moved “substantial quantities of [military] personnel and equipment to the border with Guyana amid its territorial dispute over the Essequibo region. The update comes from the Center for Strategic and International Studies in Washington D.C., which this week released a report on the latest developments in the Venezuela-Guyana dispute. The think tank talks about an expansion of a military base on Anacoco Island in the area, with new roads and a bridge getting built in the past few months. A local airport is also being expanded

Does Inflation Lead To Civilizational Collapse? A Look At Rome With the US national debt at $34 trillion and climbing, USD reserve status under pressure, inflation destroying standards of living, and the Biden administration stoking costly war on several fronts, perhaps it's time for more thoughts on the Roman empire. In a Tuesday thread posted to X, user 'Culture Critic' (@Culture_Crit) posted a deep dive into the unraveling of the Rome in the 3rd century. Let's jump in; Does inflation lead to civilizational collapse? Well, in the 3rd century, the Roman Empire began to buckle under the weight of state

Shooter Of Slovak Prime Minister Robert Fico Identified; Hungary's Orban Expresses 'Deep Shock' Update(1220ET): The identity of the shooter has been revealed in national media, and video of the actual moment the shots range out and PM Fico went down has emerged on some social media platforms. Several local media reports, citing visuals and witnesses at the scene, report that the man who shot the Slovak PM is a writer and activist named Juraj Cintula. While a clear motive has yet to be established, Cintula is said to be part of the pro-West and socially liberal "Progressive Slovakia" party. New: moment

CPI Does Not Signal Re-Emergence Of Disinflationary Trend Authored by Simon White, Bloomberg macro strategist, Today’s CPI data shows the gap between CPI and PPI continues to rise, a proxy for profit margins. After a rise and fall through the pandemic, they are persistently rising again.  Profits are positioned to be one of the main vectors of persistent consumer inflation in this cycle. Yields are in an interim trend lower as recessionary risks resurface, but the primary uptrend is intact. There will be another bond selling opportunity later in the summer. This rise in the profit-margin proxy matches the message from

RFK Jr. Cries 'Collusion' After Biden And Trump Ditch Him For Debate Update (1252ET): With recent analysis from both Goldman and TS Lombard suggesting that 3rd party candidates could have a huge impact on the 2024 election, wildcard candidate RFK Jr. has accused Trump and Biden of 'colluding to lock American into a head-to-head match-up that 70% say they do not want.' "They are trying to exclude me from their debate because they are afraid I would win. Keeping viable candidates off the debate stage undermines democracy," he said in a post to X. Presidents Trump and Biden are colluding

Netanyahu Says Rafah Op To Take 'Weeks, Not Months' As EU Warns Of Damaged Ties On Wednesday Israeli Prime Minister Benjamin Netanyahu declared that the controversial Rafah offensive, which has been criticized by a number of Western allies including Washington, is expected to "last weeks" and not not months or years. The Israeli leader appears to be trying to calm the storm of condemnation coming from the West, especially in Europe at a moment at least 500,000 Palestinians have been forced to flee Rafah. On the same day the European Union issued a call for Israel to stop the Rafah operation

Putin To Visit China To Discuss Energy Ties By Julianna Geiger of OilPrice.com Russian President Vladimir Putin is set to visit China on May 16-17 for discussions with President Xi Jinping, in part to discuss expanding energy and trade partnerships. The state visit, initiated by Xi, will cover topics such as China's Belt and Road Initiative as well as the situation in the Middle East and Asia, and Ukraine. Putin will be accompanied by key officials including Defense Minister Andrei Belousov, Foreign Minister Sergei Lavrov, Security Council Secretary Sergei Shoigu, foreign policy adviser Yuri Ushakov, and executives from major Russian

Did Michael Cohen Commit Perjury In The Trump Trial? Authored by Jonathan Turley, Below is a slightly expanded version of my column in the New York Post on the first day of cross examination for Michael Cohen. He still has one day of cross examination ahead of him on Thursday. With the government resting after Cohen’s cross examination, I believe that an honest judge would have no alternative but to grant a motion for a directed verdict and end the case before it goes to the jury. Judge Juan Merchan will now have to give the full measure of his

WTI Rebounds Off Lows After Across-The-Board Inventory Draws Oil prices are tumbling this morning despite lower CPI (juicing rate cut hopes), weak retail sales (but strong gas station spending), and a big draw reported overnight by API. It seems the main downside driver was IEA lowering its 2024 demand forecast. World oil demand is forecast to grow by 1.1 million barrels per day this year, down 140,000 bpd from last month's projection. Global crude inventories surged in March by 34.6 million barrels as trade disruptions pushed oil on water to a post pandemic high, according to the IEA. The question

First ATM, Now Debt-For-Equity Swap, AMC Drains Equity In Bid To Stay Alive  Volatility in "meme stocks" continued in premarket trading on Wednesday as AMC Entertainment Holdings announced a debt-for-equity exchange for $163.9 million in bonds maturing in 2026. This strategy mirrors management's approach that helped the struggling movie theater chain capitalize on retail day traders to boost liquidity in 2021.  A regulatory filing released Wednesday morning detailed how AMC reached a deal to swap about $164 million of its 10% notes due 2026 for 23.3 million shares of newly issued stock. The new stock is valued at $7.33 per share.  "AMC, much of whose debt trades at

"Trifecta Of Dovish News... Consistent With Fed Cutting In September": Wall Street Reacts To Weaker CPI Print With the CPI report came in on top of expectations on 3 of the 4 closely watched metrics, with just headline CPI coming in at 0.3%, just shy of the 0.4% expected (with the retail sales print coming in far uglier and missing across the board), there has been some debate among the usual commenting suspects whether this inflation report was enough to tip the scales to an earlier rate cut or not, although the consensus seems to suggest that the print was

Consumer Prices Have Risen Every Month Since 'Bidenomics' Began, Up 19.5% To Record High After a fourth straight month of hotter than expected PPI, analysts' expectations for CPI were tightly ranged around 0.3-0.4% MoM and printed +0.3% MoM (slightly below the 0.4% expected). The YoY headline CPI fell to +3.4% as expected from +3.5% prior Source: Bloomberg Under the hood, Services slowed modestly MoM... On a 3m and 6m annualized basis, Energy costs are reaccelerating most... Source: Bloomberg Used car and truck prices along with Gas Utility prices plunged on a MoM basis... Core CPI rose 0.3% MoM (as expected)

Fiscal Bazooka: China Considers Buying Millions Of Homes To Save Property Market In April's politburo meeting, the Chinese government's newfound focus on an oversupplied housing market was setting the stage to usher in new rescue policies to stabilize the economy. Weeks later, Bloomberg reported that the government was considering a plan for local governments to purchase millions of unsold homes to clear the excess supply.  According to sources familiar with government discussions, the State Council requests feedback from various provinces and government entities on the home-buying plan. Here's more color on the plan via Bloomberg:  Local state-owned enterprises would be asked to help purchase unsold

"They Left Us No Choice": Woman With Vaccine Injury In Clinical Trial Sues AstraZeneca Authored by Zachary Stieber via The Epoch Times (emphasis ours), A vial of AstraZeneca vaccine is seen at a mass COVID-19 vaccination clinic in Calgary, Alta., on April 22, 2021. (The Canadian Press/Jeff McIntosh) An American woman who suffered an injury from AstraZeneca’s COVID-19 vaccine sued the company on May 13, alleging the company breached a contract by not paying for the medical care she requires to deal with the injury. “They left us no choice,” Brianne Dressen, a preschool teacher in Utah, told The Epoch

Should You Believe Faulty U.S. Crime Stats Or Your Own Lying Eyes? Authored by James Varney via RealClearInvestigations, Americans can be forgiven for suffering from whiplash regarding law and order.  In recent weeks the Biden administration and many news outlets, including USA Today and The Hill, have touted declines in violent crime statistics to argue that America is becoming a safer place.  “Right now, with 2023 figures and early 2024, the trends are all pointing down, in a positive direction,” Jeff Asher, whose New Orleans-based AH Datalytics is developing his own “Real-Time Crime Index,” told RealClearInvestigations.  Conservative outlets, including City Journal and the editorial

Rail Union Warns German Train System Turning Into "Battleground" Thanks To Male Migrants Authored by Paul Joseph Watson via Modernity.news, The head of a German rail union warns that the country’s train system is turning into a “battleground” thanks to a wave of violence and intimidation being unleashed by male asylum seekers against female staff. In an interview with Focus Online, Steffi Recknagel, the head of the Railway and Transport Union (EVG) in Thuringia, says that the average day is “sometimes life-threatening” for employees due to the sheer amount of abuse being dished out by migrants. “I have an average of

Emergency Blackouts Introduced Across Ukraine As Temperatures Dip Following several weeks of stepped-up Russian aerial attacks which have pummeled Ukraine's energy and electrical grid, state power operator Ukrenergo on Tuesday announced that rolling emergency blackouts have gone into effect across the country. It comes amid a drop in temperatures which has served to further strain the grid. "From 21:00 to 24:00 (1800-2100 GMT), Ukrenergo is forced to introduce controlled emergency shutdowns in all regions of Ukraine," it stated on Telegram. "The reason for this is a significant shortage of electricity in the system as a result of Russian strikes and increased consumption

NATO's Newest Member Open To Hosting Nuclear Weapons Via The Libertarian Institute The Swedish Prime Minister has said his country would be willing to host nuclear weapons during a war. The North Atlantic Alliance has a nuclear sharing program that has US nuclear weapons deployed in five countries. The Polish leader recently said he hopes Warsaw can one day join the program.  Swedish Prime Minister Ulf Kristersson said on Swedish public radio that Stockholm would be willing to do this only during wartime. "In a war situation it’s a completely different matter. It would depend entirely on what would happen," he explained

Where Wealth Is Concentrated In Africa 56 percent of Africa’s millionaires and over 90 percent of its billionaires lived in just five countries in 2023 - South Africa, Egypt, Nigeria, Kenya, and Morocco, according to The Africa Wealth Report 2024 published by Henley & Partners and New World Wealth. There were 135,200 people who owned wealth of 1 million U.S. dollars or more living in the continent that year, as well as 342 centi-millionaires worth $100 million or more and 21 billionaires. As Statista's Anna Fleck shows in the following chart, South Africa had the highest number of so-called high net worth

7 In 10 Europeans Say Governments Allowing Too Much Immigration Authored by Steve Watson via Modernity.news, A survey encompassing all 27 countries in the European Union has found that most citizens believe their countries are taking in too many foreign migrants. The poll conducted by BVA Xsight for ARTE Europe Weekly, a project led by the French-German TV channel ARTE GEIE, has found that seventy one percent say there is too much unchecked immigration. The survey also discovered that 85% of respondents believe governments need to do more to combat irregular migration.  Just 39% said they believe that Europe needs migrants coming in

Mass Starvation: Here's Why Most Of America Is Completely Unprepared Authored by Brandon Smith via Alt-Market.us, The concept of mass starvation has not been in the forefront of American society for a very long time. Even during the Great Depression the US was majority agrarian and most people knew how to live off the land. In fact, the US has never suffered a true national famine. There have been smaller regional instances of famine (such as during the Dust Bowl in the 1930s), but nothing coming remotely close to the kinds of famines we have seen in Asia, the Eastern

Samsung Tops Apple In Q1 Global Smartphone Shipments While not quite a duopoly, Apple and Samsung have long been known to produce the most popular smartphones from a global perspective. Over the past years, however, Chinese tech companies have started catching up and, at times, even overtaking Apple's iPhone product lines. In the following chart, based on data from the IDC Quarterly Mobile Phone Tracker,  Statista's Florian Zandt shows that between January and March 2024, roughly one out of five of the 289 million smartphones shipped were Samsung devices, while Apple commanded a market share of 17.3 percent. Xiaomi, however, wasn't far behind with a

Over $13 Million Paid Out In Vaccine Injury Claims In Australia Authored by Monica O'Shea via The Epoch Times (emphasis ours), The Australian government has paid out $20.5 million (US$13.2 million) in COVID-19 vaccine injury claims to people who experienced harm from the jab. (Karn Buppunhasamai/Shutterstock) Services Australia data provided to The Epoch Times reveals 6.82 percent of claims have been compensated so far, that is 286 out of 4,191. “As at 31 March 2024, the COVID-19 Vaccine Claims Scheme has received 4,191 claims and paid 286 claims to the value of around $20.5 million,” a spokesperson said. “Services Australia

Elections And Devaluations Authored by Yves Smith via NakedCapitalism.com, Yves here. It’s revealing that Serious Economist Jeffrey Frankel limits himself to third-world examples in his case studies below on post-election devaluations. Perhaps it would be unseemly to look at, say, the US, UK, Japan, South Korea, or even Australia (admittedly the latter and Canada have their currency values substantially affected by commodity prices). Of course, Frankel might contend that any politically-related currency action in an advanced economy would not amount to a depreciation-level decline. After all, they have independent central banks. As many, including your humble blogger, have noted, the

"The Russians Just Walked In": Ukraine Border Defense Funds Diverted To Fake Companies In Massive "Betrayal" Authored by Thomas Stevenson via Human Events (emphasis ours), Head of the Mezha Anti-Corruption Center, Martyna Bohuslavets, has written a report in Pravda asking "Where are the fortifications?" She reports that millions of dollars that were intended for the construction of fortifications in Ukraine were instead "transferred to Kharkiv OVA to front companies of avatars." Bohuslavets said the Ukrainian Kharkiv Regional Military Administration (Kharkiv OVA) paid out funds to fictitious companies during the construction and fortification of the Kharkiv region. The report comes as Russian

Why 1960 Alternate Electors Succeeded Where 2020 Ones Failed Authored by Lawrence Wilson via The Epoch Times (emphasis ours), A November election decades ago produced a clear winner in a hotly contested presidential race. Yet the popular vote immediately came under scrutiny in several states. In one, auditors discovered clear errors in tabulating vote totals. In others, credible evidence of election fraud was uncovered. (Illustration by The Epoch Times, Shutterstock, Getty Images) With a court challenge underway, electors from both parties met at a state capitol and conducted the electoral vote. Two certifications were forwarded to Washington, one declaring the

Target To Limit LGBT Pride Products To Online And 'Select Stores' After Last Summer's Controversy Authored by Bill Pan via The Epoch Times (emphasis ours), Target has announced that its LGBT-themed merchandise will only be sold online and at select stores this June, a decision made after last year’s Pride Month marketing campaign divided customers and dragged down sales. A sign is posted in front of a Target store that is slated for closure in Oakland, Calif., on Sept. 29, 2023. (Justin Sullivan/Getty Images) In a statement on its website, Target said that instead of prominently displaying its Pride Month

"We Need To Deal With The Debt" - Goldman CEO Warns Interest Costs On America's Ballooning Borrowings Means "Issues Down The Road" Authored by Tom Ozimek via The Epoch Times (emphasis ours), Goldman Sachs CEO David M. Solomon is the latest business leader to sound the alarm on the Biden administration’s deficit spending, which comes as the cost of making interest payments on America’s ballooning government debt has exceeded spending in both the critical sectors of defense and Medicare. “I think the level of debt in the United States [and] the level of spending is something that we need a

OpenAI 'Exploring' How To Responsibly Generate AI Porn OpenAI, maker of ChatGPT, has recently disclosed plans that could revolutionize its technology’s applications, signaling a potential shift in its traditionally stringent content policies. According to draft documentation released last week, the company is exploring how to 'responsibly' introduce not-safe-for-work (NSFW) content through its platforms. The new policy is highlighted in a commentary note within the extensive Model Spec document, sparking a complex discussion about the future of AI in generating sensitive content, Wired reports. Unstable Diffusion is a NSFW AI image generator with minimal content restrictions. Unstable Diffusion "We’re exploring whether

Citadel's Ken Griffin Tells Qatar Audience: American Campus Chaos Is "Anarchy" On day one of the 2024 Qatar Economic Forum in Doha, Citadel's Ken Griffin covered a wide range of hot-button issues. He criticized the Biden administration's latest wave of Chinese tariffs, the ongoing campus crisis terrorizing American colleges and universities, global geopolitical tensions, and former President Trump's potential comeback.  Griffin started the conversation by discussing soaring geopolitical risks from Eastern Europe to the Middle East to China. He warned, "We are living in a different world than what we fantasized just a few years ago." "There are more tail risks that

House Oversight Cmte Probing Biden Voter Mobilization Order Authored by Ben Weingarten via RealClearPolitics, The House Oversight Committee is probing a controversial Biden administration executive order tasking the federal government with mobilizing voting groups it says are underrepresented. In a letter obtained by RealClearPolitics, Chairman James Comer (R-Ky.) has requested that Office of Management and Budget Director Shalanda Young produce a slew of documents and information concerning the development and implementation of Biden’s sweeping “Executive Order on Promoting Accessing to Voting” no later than May 28, and a staff-level briefing by May 20. The demand by the chairman of the

RFK Jr. And AV24 Super PAC Sue Meta, Alleging Election Interference Authored by Matt McGregor via The Epoch Times (emphasis ours), Independent presidential candidate Robert F. Kennedy and the super PAC backing him have filed a lawsuit against Meta Platforms, Inc., for election interference after it allegedly shadow banned the documentary “Who is Bobby Kennedy?” on Facebook and Instagram. Presidental candidate Robert F. Kennedy Jr. attends a rally at the Val Air Ballroom in Des Moines, Iowa, on April 13, 2024. (Kathryn Gamble for The Epoch Times) American Values 2024 (AV24) announced in a May 13 press release that they

Goldman Finds Commercial Power Demand In Virginia Explodes Higher As 'Next AI Trade' Soars All eyes are on the powering-up America theme as the surge in artificial intelligence sparks a nationwide boom in data center building. The urgent need to overhaul the nation's power grid to meet the skyrocketing demand for electricity is now front and center. We pointed out earlier this month that data centers hiding in 'spy country' Northern Virginia will need a 'reactor's worth of power.'  Continuing the focus on Virginia, a team of Goldman analysts led by Hongcen Wei revealed that commercial power demand across the state has exponentially surged, unlike

1 In 8 US Adults Have Tried GLP-1 Obesity Medications, Poll Finds Authored by Amie Dahnke via The Epoch Times (emphasis ours) One in eight American adults have used popular weight loss and diabetes drugs known as GLP-1 agonists, according to the latest KFF Health Tracking Poll. (Photos from Shutterstock / Designed by The Epoch Times) The survey, which involved nearly 1,500 adult participants and was carried out in late April, found that two-thirds of those currently using the drugs are doing so to manage diabetes or heart disease, while roughly four out of 10 are taking the medication primarily

Record Household Debt, Jump In Delinquencies Signal "Worsening Financial Distress", Fed Warns While the market remains focused on tomorrow's CPI print, and to a lesser extent the April retail sales reports due at the same time, which will both be released at 8:30am on May 15. we should to flag another important report that doesn’t typically get a lot of attention: the New York Fed’s Household Debt and Credit Report for 1Q 2024 which was just published, and where the latest data on credit card debt and delinquencies has recently been the most important part of the report. While we

Snyder: "Demographic Winter Is Coming" As Fertility Rates Plummet All Over The Globe Authored by Michael Snyder via The End of The American Dream blog, Fertility rates have fallen way below replacement level throughout the entire industrialized world, and this is starting to cause major problems all over the globe.  Aging populations are counting on younger generations to take care of them as they get older, but younger generations are not nearly large enough to accomplish that task.  Meanwhile, there aren’t enough qualified young workers in many fields to replace the expertise of older workers that are now retiring.  Sadly

Putin Plotting 'Physical Attacks' On West, UK Intelligence Warns, Amid Spate Of Mystery Arsons A top British intelligence official has issued a new alarmist warning concerning the 'Russian threat' to the West. Anne Keast-Butler, who for the last year has headed up the UK's GCHQ, or signals intelligence operations (which is the equivalent of America's NSA), has warned in her first major speech that President Putin is plotting "physical attacks" against Western targets. Addressing cyber security experts in Birmingham, the GCHQ director claimed that Moscow is busy "nurturing and inspiring" groups of cyber attackers, and is even "in some cases seemingly coordinating physical

Will Tariffs Outweigh CPI? Authored by Peter Tchir via Academy Securities, Markets shrugged off high headlines on PPI, for a variety of valid reasons. Now we can move on to CPI (where I see the “whisper number” as a lower than expectations print). I’m more focused on tariffs. My recollection of tariffs was that far more economists reacted negatively to the initial round of tariffs imposed by President Trump in 2018. I figured I’d check with ChatGPT if my perception was correct. The media reaction to President Trump's tariffs in 2018 was largely negative, with widespread criticism from economists, business groups, and various sectors impacted

Making Nero Proud... Blinken Rocks Out In Kiev As Kharkiv Burns Update(1654ET): Antony Blinken decided that at the very moment things are at their most dire point for Ukraine's struggling armed forces in Kharkiv amid the new major Russian cross-border offensive, he would put on a concert featuring himself at a bar in Kiev. It has resulted in near universal revilement, even among some of Ukraine's staunchest supporters. Blinken sheds the suit to rock out at Kyiv’s Barman Dictat speakeasy bar. But some might not see this as a great look considering the current situation, the number of people dying and

WTI Rebounds Off Two-Month Lows After API Reports Crude Draw Oil prices decline today as the last few day's rollercoaster continued after a hotter than expected PPI print, leaving WTI near nine-week lows. Crude has been on a downward path since April, with the geopolitical risk premium from tensions in the Middle East largely evaporating. Refinery run cuts and narrowing timespreads have signaled a slightly softer market. Yet prices remain elevated for the year as OPEC and its allies restrict flows. However, an OPEC report published Tuesday showed that OPEC+ members making extra output cuts pumped 568,000 barrels a day above their agreed limit last month.

VDH: Has America Finally Had It With Joe Biden? Authored by Victor Davis Hanson, Joe Biden’s personal approval rating is at historic lows; almost all his policies do not poll fifty percent. He is behind Trump in almost all the swing states. And now he lies serially even to sympathetic interviewers. In short, finally Biden has been exposed for what he always was and represented. Senator and Vice President Joe Biden was always sort of a buffoon. He is by nature a grandstander who handsomely profited from his office while posing as good ole Joe from Scranton. He is a

Retail Wrecking Crew Hammers Hedgies Again; Stocks/Powell Shrug Off Stagflation Signals Hot PPI initially spooked markets (yields and dollar up, stocks down) but that faded fast (on lower revisions) - but the stag-flation trend continues this week... Source: Bloomberg Powell did briefly spook stocks around 1030ET with the following comment: "it's a possibility - but I dont think it will be the case - that the next action we take will be a rate hike... most likely we will stay the course...." Between that comment (basically jawboning away any rate hikes) and the CPI-related components within PPI actually looking positive

Tesla Re-Hires Some Of The 500 Workers It Laid Off Its Supercharging Team It looks as though Elon Musk may have slightly overshot the mark with cost cutting at Tesla. The company, which saw layoffs number in the tens of thousands so far this year, is now hiring back some of the 500 workers from its Supercharger team it let go, according to Autoblog/Bloomberg.  Max de Zegher, the director of charging for North America, has returned to his role, according the report. This move follows the termination of Rebecca Tinucci, the senior director, and most of the charging team by

Over Half Of Illegal Aliens In US Are Unemployed: Report Authored by Eric Lundrum via American Greatness, A new report reveals that over half of the population of illegal aliens that have come into the United States under Joe Biden’s watch are unemployed, thus creating an even greater strain on the country. As reported by Breitbart, the report from the Center for Immigration Studies (CIS) released on Monday revealed that only 46% of illegals who came to the U.S. “in 2022 or later” were employed at the start of 2024. “Immigration clearly adds workers to the country, but it just as

Copper Scrappers Target Tesla Superchargers As Metal Prices Soar  In the early 1950s, a notorious bank robber, one of the first fugitives on the FBI's Ten Most Wanted list, was asked after his capture: Why did you rob banks? William Sutton's response: "Because that's where the money is." Fast-forward to today. Thieves are targeting electric vehicle charging stations because the charging cords at each stall contain a 'gold mine' of copper that can easily be scrapped.  Targeting EV charging stations is nothing new (read here). Still, thieves are noticing copper prices moving higher, mainly due to strained mining supplies and robust demand for powering up America in

'Good News Is Bad News' Is The Worst News For Stocks Authored by Simon White, Bloomberg macro strategist, We’re back in a “bad news is good news” regime for stocks, where weak economic data prompts higher prices. That’s typically a supportive backdrop for equities, but investors should be alert for when stocks fail to rally on good news as this signals the economy is potentially in or about to be in a recession, with the stock market poised to see its worst returns. “Bad news sells best. ’Cause good news is no news,” says Kirk Douglas’s journalist in Billy Wilder’s Ace

Israeli Tanks Plunge Deeper Into Rafah As 500,000 Palestinians Flee Israeli tanks have been seen plunging deeper into the southern Gaza city of Rafah amid reports that some 500,000 people have fled amid the escalating ground offensive. The Israel Defense Forces (IDF) have initially focused their operation on the eastern section of the city, having seized a key roadway that essentially cuts Rafah in half. "The tanks advanced this morning west of Salahuddin Road into the Brzail and Jneina neighborhoods. They are in the streets inside the built-up area and there are clashes," one resident told Reuters via a messaging

"Trump Is Innocent": Mike Johnson Gives Speech Outside Trump Trial In Manhattan Update (1215ET): Johnson, Ramaswamy, Doug Burgum, Byron Donalds, Cory Mills, and Eric and Lara Trump all joined Trump today. 🚨Donald Trump is joined in court by Vivek Ramaswamy, Speaker Mike Johnson, Doug Burgum, Byron Donalds, Cory Mills, Eric Trump and Lara Trump: “The gag order has to come off— There’s never been anything like this in our country. It’s a scam.” pic.twitter.com/L3506zWhz9 — Benny Johnson (@bennyjohnson) May 14, 2024 Johnson gave a speech. "This is the fifth week that President Trump has been in court for this sham

Biden Administration Quadruples Tariffs On Chinese EVs Authored by Terri Wu via The Epoch Times, The Biden administration announced on Tuesday that it will impose a 100 percent tariff—quadrupling the current 25 percent—on electric vehicles imported from China in 2024. In addition to EVs, the White House has significantly increased tariffs on Chinese steel and aluminum products, lithium-ion batteries, and solar cells. “China’s using the same playbook it has before to power its own growth at the expense of others by continuing to invest despite excess Chinese capacity and flooding global markets with exports that are underpriced due to unfair

Zelensky Thanks Americans For Billions In Aid, But Pleads For More Patriot Systems Secretary of State Antony Blinken has made another trip to Ukraine, appearing in Kiev alongside Ukraine's President Volodymyr Zelensky on Tuesday, and the US top diplomat vowed that some of the US aid from Biden's recently approved $60 billion for Ukraine is "now on the way". But Zelensky immediately pivoted to begging for Patriot missiles amid Russia's new Karkhiv assault, saying that "of course we are very thankful for this to Americans, to American people" but that "We need, really we need today two Patriots for Kharkiv, for Kharkiv region because

I've Got A Bad Feeling About This By Michael Every of Rabobank Ideally, I would have written this on May 4th not 14th, but I am going to talk Star Wars. I was a fan in 1977, kept the flame alive when only battered VHS cassettes of the original trilogy existed, and was delighted to get prequels. Until the opening crawl announced, “The taxation of trade routes to outlying star systems is in dispute.” I recall thinking, “This is my job - boring!” But the prequels were better than the sequels and all the TV shows I don’t watch. Indeed

Unfixable: Michael Cohen Faces Reckoning Of Biblical Proportions On Cross Examination Authored by Jonathan Turley, Below is my column in the New York Post on the first day of the examination of Michael Cohen. He is expected to start his cross examination today. How bad will it be? After lying to Congress, courts, banks, and most everyone else, it will be bad. Years ago, Cohen threatened a journalist and told him “what I’m going to do to you is going to be f—ing disgusting.” Well, that bad. On cross examination, Cohen faces a reckoning of biblical proportions. Michael Cohen apparently wants a

Watch Live: Will Fed Chair Powell Admit He Can Now See The 'Flation'? Squeezed in between today's (hotter than expected) PPI and tomorrow's CPI, Fed Chair Jay Powell will join The ECB's Dutch Central Banker Klaus Knot at the annual general meeting of the Foreign Bankers' Association. After PPI - and a wave of higher prices across various indicators - will Powell admit that he can now see the 'flation'? ...and if not, will he explain why he is so desperate to start cutting rates (before November?)... Watch Powell speak live here (due to start at 10amET)... (FBA has blocked

US Army Major Quits Intel Agency Over 'Unqualified' US Support Of Israeli 'Ethnic Cleansing' A US Army officer has resigned from his post at the Defense Intelligence Agency (DIA) to protest Washington's "nearly unqualified support for the government of Israel" -- support that's facilitated "the killing and starvation of tens of thousands of innocent Palestinians." Mann describes himself as a "descendent of European Jews" who was raised to be "particularly unforgiving" where "responsibility for ethnic cleansing" is concerned.  When Major Harrison Mann left DIA in April, he sent a two-page letter to a group of his colleagues there, saying he felt they

Supreme Court Justices Thomas And Alito Issue Warnings About State Of America Authored by Tom Ozimek via The Epoch Times (emphasis ours), In separate remarks at two different events on Friday, Supreme Court Justices Clarence Thomas and Samuel Alito issued warnings about the state of affairs in America today, including support for freedom of speech “declining dangerously” and the nation’s capital becoming a “hideous” place where cancel culture runs rampant. Supreme Court Associate Justices Elena Kagan (L), Clarence Thomas ((2L), Samuel Alito (2R) and Chief Justice John Roberts (R) arrive for services for former President George H.W. Bush at the

Red Lobster Abruptly Closes "Dozens" Of Locations, Loses Its Key Supplier And Begins Fire Selling Kitchen Equipment Restaurant chain Red Lobster appears to be the latest beneficiary of "Bidenomics", with reports surfacing this week that "dozens" of its locations across the country are unexpectedly closing down.  More than 80 locations in at least 27 states have now been listed as "temporarily closed" on the restaurant chain's website, according to CBS affiliate WBNS.  The report said that workers at the locations were offered "no notice whatsoever" as to the closings. The Orlando-based seafood chain known for its endless shrimp deals has been

US Producer Prices Accelerating At Fastest Rate In 12 Months, Wall Street Reacts... Ahead of tomorrow's CPI, traders are eyeing this morning's Producer Prices for any hints that the disinflation trend will return...or not. The answer is "not!" April Producer Prices rose 0.5% MoM (vs +0.3% exp), with March's +0.2% MoM revised down to -0.1% MoM. The downward revision did not stop the YoY read rising to 2.2% (from +2.1% in March)... Source: Bloomberg This is the highest YoY read since April 2023 and is the fourth hotter than expected headline PPI print... Source: Bloomberg Producer Prices have been aggressively

Markets Now Face Make Or Break Inflation Data By Michael Msika, Bloomberg markets live reporter and strategist European stocks are hovering around record highs on conviction that interest rates will come down and revive the economy, making this week’s inflation data a key to extending the rally. Monetary policies in the US and in Europe are expected to diverge for a few months, with the European Central Bank seen cutting rates earlier than the Fed with inflation looking more in check on the old continent. Yet, US data is always in the driver’s seat when it comes to financial markets

AMC Raised $250 Million In ATM Offering As 'Meme' Stocks Rocket Higher Update (0915ET): Is this 'meme stock frenzy', The Fed's fault once again? The last time US financial conditions were this easy (jawboned by Fed officials' pivot) was the start of the first manic meltup in GME and its meme-mates... The meme mania has started to spread with not just AMC and GME, but Virgin Galactic, BlackBerry, Nikola, and SunPower all soaring among many others... *  *  * With AMC Entertainment and GameStop's short squeezes causing significant losses for short sellers on Monday, we noted the growing likelihood that

Anglo Goes Bold: Unveils Breakup Plan To Transform Into Copper Giant Amid BHP Takeover Battle London-listed Anglo-American has unveiled a "clear, compelling, and decisive plan to unlock significant value from its portfolio." This strategy involves selling its platinum and diamond business units while concentrating on copper, positioning itself to prosper off the 'Next AI Trade' as data centers and power grids will use an enormous amount of the base metal to 'power up' the digital economy. Also, it's a move to thwart a hostile takeover attempt from BHP Group.  Anglo was forced to radically transform itself into a copper giant because of BHP's twice-rejected takeover bid, now worth £34

The Broken Magic Trick Behind Dollar Dominance Authored by Peter Reagan via Birch Gold Group, The total debt owed by the United States federal government has reached incredible levels. Today, the total is $34,541,727,970,599.17 – but by the time you read this article, it’ll probably be higher. I say “probably” because the debt is growing exponentially that by the time you read this, it’s quite possible that another few hundred billion have taken the total over $35 trillion. Look at the official chart and attention to how fast total debt has risen since the turn of the century: In the year 2000, total government debt was