"Greatest Short Squeeze Ever" Sends Stocks To Record Highs

Caught On Tape: State Department Refuses To Answer Any Questions On Arming Syrian Rebels

If for some bizarre reason you still have any faith left in the U.S. government, this should take care of it.

Living on borrowed time...

The "Mystery" Of Who Is Pushing Stocks To All Time Highs Has Been Solved

"Many have been asking for an update of our usual central bank liquidity metrics. These show a surge in net global central bank asset purchases to their highest since 2013."

Oil Price Tumbles After Biggest Inventory Build In 10 Weeks

Against expectations of a 3mm draw for Crude (and 900k draw for Cushing), API followed last week's surprisingly large draw (later dismissed by DOE) with an even more surprising build (2.2mm) this week - the biggest build in 10 weeks. Cushing saw a smaller than expected draw but Gasoline and Distillates saw major builds. Crude had rallied aggressively all day into the print (though remained below API's print level last week) and immediately started to give it back when the data hit.

Is Gundlach Still Bearish? Ask Him In His Latest DoubleLine Webcast - Live Feed

The higher the market goes, the more bearish DoubleLine's "bond king" Jeff Gundlach seems to get. Case in point, just yesterday we showed why according to Gundlach, things will get worse in the future, not better. And yet stocks keep going higher (thanks to central banks). So have the new S&P500 all time highs dented Gundlach's skepticism? Ask him yourself during the Q&A in his latest "asset allocation webcast" set to start momentarily.

Capitol Lockdown Lifted

Earlier today the US Capitol was on lockdown, with the all clear given just a few minutes later. Now, it's time for the second such event of the day, when according to media reports there has been a nearby shooting prompting a police presence on location, just as US lawmakers prepares to leave for 7 week recess on Thursday, one day earlier than expected.

Spot The Year Of The Tax Inversion

"... the Irish growth numbers 'meaningless', and say nothing about state of domestic economy...we would be laughing if these numbers came out of China..."

Will Hillary Ditch Black Lives Matter?

"If Black Lives Matter does not clean up its act, Obama and Clinton will have to throw this crowd over the side, or the BLM will take her down."

Stock Panic-Buyers Reach "Extreme Greed"... But...

Forget "greed," US equity market investors are now in "extreme greed" according to CNN's Fear and Greed meter, which has spiked to 2-year highs as stocks hit record highs. There's just one problem with all this exuberant greed-mongering... Someone is hedging the breakout to record highs in size...

Daily Pokemon Go Use Hits 43 Minutes, On Pace To Surpass Facebook

As of July 8th, Pokemon Go was being used for an average of 43 minutes, 23 seconds a day, higher than Whatsapp, Instagram, Snapchat, and Messenger. At this rate, Pokemon could soon surpass the undisputed attention hog - Facebook.

This Is What Hillary Clinton's Advisors Really Think Of The American Public

ACQ: “Look, it doesn’t matter what you or I think. The President wants the TPP, and the Party isn’t going to oppose him....They don’t see much of a risk. Most Americans don’t know or care about the TPP.”
RR: “But they know big corporations are running economic policy. They think the whole system is corrupt. Believe me, Trump will use this against Hillary.” ACQ: “I think you’re being too cynical.”

It's The Economy, Stupid!

The economy sucks for the majority of Americans. While the libs try to make the election about blacks, gays, and global warming, the people want answers as to why their standard of living hasn’t improved in 30 years...

WTF Headline Of The Day: "Racist" Window Edition

This is getting bloody ridiculous!! A (black) Yale University cafeteria worker has resigned after smashing a historic stained glass window (which depicted two slaves picking cotton) exclaiming that the dining hall window was "racist" and "very degrading."

6 Regional Feds Voted To Hike The Discount Rate In Early June, Up From 4 In April

Back in April, when the world was still reeling from the China devaluation inflicted market slump, the Fed's discount rate minutes for the months of March/April showed that 4 regional Feds wanted a 25 bps rate hike, up from just two  - the Richmond Fed and Kansas City - in the Feb/March meeting. Moments ago the Fed released its latest May/June Discount Rate Minutes which revealed that both the (Jim Bullard's) St. Louis and Boston Feds joined four other regional Feds, Cleveland, Richmond, Kansas City and San Francisco, in seeking a quarter point increase in Fed discount rate to 1.25 percent prior to the June 14-15 FOMC meeting.

Presidents Obama & Bush Speak At Dallas Memorial - Live Feed

We are sure this won't be awkward at all. Will President Obama use this solemn thoughtful moment to twist the knife of gun control just a little further? Or will he back the Dallas Police Chief's calls for young black men to serve their communities and not protest?

Supreme Court Justice Ginsburg Continues Her Assault On Trump: "He Is A Faker"

Despite the broad criticism of her comments from both the right and the left, instead of backing out of the stunning verbal duel with Trump, Ruth Bader Ginsburg doubled down: "He is a faker," she said of the presumptive Republican presidential nominee, going point by point, as if presenting a legal brief. "He has no consistency about him. He says whatever comes into his head at the moment. He really has an ego. ... How has he gotten away with not turning over his tax returns? The press seems to be very gentle with him on that."

Only 15% Of S&P Names Are Making New Highs

"Everything is awesome" is the new narrative. How can it not be with stocks at record highs (just like they were in 2007 after Bear Stearsn liquidated two funds)? The only problem is, only 15% of S&P 500 members are at 52-week highs - less than half the 40% of names at a peak when the S&P 500 first breached 2007's record high in 2013.

The Unintended Consequences Of The $15/Hour Minimum Wage

"The magnificent "gift" that we are inexorably marching toward, the $15 minimum wage, will come out of the hides of working people eating lunch or running errands after work. Not only will the transaction price of a sandwich rise, so will the opportunity costs. "

Dreadful 10 Year Auction: Massive Tail, Plunging Bid to Cover, Fleeing Foreign Bidders

It has been years since we have seen as dreadful a 10 Year auction as the just concluded sale of $20 billion in 10 Year paper.

Why JPM Now Thinks The S&P 500 Is Promptly Headed For 2,200

More of the same for this market. The 17x/$130 argument continues to resonate (that combination of numbers points to 2200). It’s still very, very early in the CQ2 season but the indications so are more positive than negative (AA, Daimler, PEP, Samsung, SIMO, STX, WDC, etc) and that is helping investors look past the earnings recession and is bolstering confidence in a ~$130 number for next year.

Full Text Of Bernie Sanders' Endorsement Of Hillary Clinton

I have known Hillary Clinton for 25 years. I remember her as a great first lady who broke precedent in terms of the role that a first lady was supposed to play as she helped lead the fight for universal health care. I served with her in the United States Senate and know her as a fierce advocate for the rights of children.

Russian Warnings: Putin, Alex Jones, Catherine Austin Fitts with The Saker and Others On WW3/WW4 Provocations

from Rogue Money:
Speaking on the John B. Wells Caravan to Midnight program on June 20, 2016 (and in the terrestrially-broadcast CTM/Arc to Midnight recording published on YouTube June 26, 2016), Team Rogue Money’s mentor W the Intelligence Insider referred to Putin’s exasperated war warning to the (post)Western journalists present at last month’s St. Petersburg International Economic Forum (SPIEF).
In his remarks, the Russian President pointed out that Washington lied about the threat of nuclear-tipped Iranian ballistic missiles and had used the non-existent threat from Iran as an excuse to build a missile defense shield in Europe that also had offensive applications. Naturally, the notion that the U.S. might strike first in a confrontation with Russia or risk a nuclear holocaust to prop up the dying fiat U.S. dollar system through war is not taken seriously by journalists who forgot NATO’s aggression against two sovereign states, Serbia and Libya. But Putin was speaking directly to the American people and peoples of the world, not to presstitutes who either don’t know or barely can fathom the global economic reset that’s coming and what it will do to (post)Western institutions like the European Union and NATO.
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Congress: “Too Big to Jail: Inside the Obama Justice Department’s Decision Not to Hold Wall Street Accountable”

by Wolf Richter, Wolf Street:
A galling read by the US House of Representatives.
The US House of Representatives today released the results of its three-year investigation – hampered along the way by the Department of Justice and the Department of the Treasury – into why HSBC and its executives weren’t prosecuted.
Empirical evidence has told us for years that in the US a bank and its executives cannot be prosecuted if the bank is big enough. We’ve come to call this type of bank “Too Big to Jail.”
Empirical evidence has also told us that a bank can do essentially whatever it wants to, given that, if caught, it may have to pay a fine that then becomes just part of the cost of doing business. Wall Street doesn’t care about fines. They’re “extraordinary items” that banks and analysts systematically exclude from their “ex-items” per-share earnings.
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Germany Can’t Save Deutsche Bank!

by Chris Vermelian, Silver Doctors:
The belief by Wall Street that Germany will not allow Deutsche Bank to fail is fading. Post the Brexit, tensions are running high among the remaining members, as seen in the spat between Germany and Italy. Due to the earlier hard stance of the Germans, it is likely that any move to bailout DBK will face considerable resistance from all of the member nations.
If allowed to fail, DBK will cause a ‘crisis’ many times over that of which Lehman Brothers did.
Deutsche bank (DBK) shares dropped to fresh new lows with the various news announcements, as well as a feeling that Germany will not be capable of bailing out the bank. The imminent outcome for DBK is ‘bankruptcy’ while the world will have to bear the brunt of the fallout from all of the complicated ‘derivatives’ which are being held by Deutsche Bank.
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Its Probably A Good Time To Get Your AR-15 Now…

by Ken Jorgustin, Modern Survival Blog:
If you have been thinking about getting one, now is probably a good time to acquire your AR-15…before the gun-grabbers implement a ban by either some sort of ‘executive order’ or some other method.
Additionally, ‘if’ Hillary wins the election, you can almost guarantee that the following things will hinder or eliminate your ability to acquire one:
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What if Whites Strike Back?

by Mychal Massie, The Burning Platform:
It would serve race mongers well to consider that even a docile old dog will bite you if you mistreat it often enough and long enough. Tangential to same is the reality of the “laws of unintended consequences.”
I’m tired of seeing, reading, and hearing white people blamed for everything from black boys not being able to read to whites being privileged because of the color of their skin. If I am tired of these Americans being used as scapegoats to further the agenda of race mongers, then it is a sure bet that those being unjustly vilified are especially weary of same.
This isn’t 1860 and it certainly isn’t 1955. There are no slaves in America and there are no Jim Crow laws dictating access based on skin color. Specific to that point it is time to remind people like Obama, Al Sharpton, and the New Black Panther Party that the racial discord they are fomenting can become the harbinger of their own peril.
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Red List News-Army Regulations Now Permit the Execution of Peaceful Protesters

by Dave Hodges, The Common Sense Show:
For the past two years, governments have been shooting protesters, across the planet.
New Army field manual regulation, apparently make it legal to do so here.
In light of the BLM protests, which are growing more ominous and the possibility that tens of millions of Americans could be protesting in the streets this November if the criminal elite steal the election from Donald Trump.
Details on the plans to execute peaceful protesters are contained in the following video.
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New Apple Tech Could Allow Cops to Remotely Stop You From Filming Them

by Jake Anderson, The Anti Media:
In light of the most recent police murders caught on smartphones and, in one case, horrifically livestreamed, it seems there is a caveat to our fears of ubiquitous surveillance: it’s not just citizens who are overseen, it’s everyone — including police officers who use excessive force. Recording police is widely viewed as a way to keep cops accountable and ethical — a kind of panopticon for the people.
However, a recent patent by Apple has information rights activists worried the government is looking for ways to control our mobile devices. A recent post by the American Civil Liberties Union (ACLU) openly speculates that government and law enforcement agencies may try to use an infrared emitter to “turn off” phones when citizens film police abuses.
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Police Murder Because They Are Trained To Murder — Paul Craig Roberts

by Paul Craig Roberts, Paul Craig Roberts:
In response to my request for information on US police training
(http://www.paulcraigroberts.org/2016/07/08/why-dallas-happened-paul-craig-roberts/), readers have sent in a variety of information that seems to fit together. I am going to assemble it as best I can as a working hypothesis or provisional account. Perhaps a former or current police officer concerned about the change in the behavior of US police, or an expert on police training and practices, will come forward and verify or correct this provisional account.
First, we know that the police have been, or are being, militarized. They are armed with weapons of war that hitherto have been used only on battlefields. We don’t know why police are armed in this way, as such weapons are not necessary for policing the American public and are not used in police work anywhere except in Israeli-occupied Palestine.
There is an undeclared agenda behind these weapons, and neither Congress nor the presstitute media have any apparent interest in discovering the hidden agenda.
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