Welcome To Rio: Olympic Village Catches Fire, Athletes Robbed, & Water "Teeming With Dangerous Viruses"

As the Olympic Games are set to get underway in Rio de Janeiro, the host country is experiencing a couple of "minor glitches" like gas leaks, athlete robberies, infrastructure collapses and dangerous levels of sewage in waterways.  But we still have a couple of days until the opening ceremonies so it should be fine.

Clinton Lead Surges In Latest Poll As Trump "Bounce" Fades; Dead Gorilla Gains

Pick your poll: Trump +3, Clinton +5, Clinton +1, Trump +4, Clinton +7.

What Would Make Us Safe?

"think about it for a second"...

NY Fed Finds 15% Of Americans Have Negative Net Worth; Student Loans Contibute To Record US Wealth Inequality

"There has been much discussion about the growth in wealth inequality over the past three decades. Given the importance of student debt in explaining negative household wealth, it is likely that the steady growth in student debt and borrowing, combined with the very slow rate of student loan repayment we have documented elsewhere, has materially contributed and will continue to contribute to negative household wealth and wealth inequality"

California To Proclaim August "Muslim Appreciation And Awareness Month"

Meet California Assemblyman Bill Quirk, the Hayward Democrat who just introduced a Resolution which recognizes the month of August 2016 as “Muslim Appreciation and Awareness Month." One quick question, when is Victims of Jihad Appreciation and Awareness Month?

Gawker's Nick Denton Files For Personal Bankruptcy: Fill Filing Attached

The avenging ghost of Peter Thiel (metaphorically speaking of course, Thiel is quite alive) continues to haunt Nick Denton, who two months after putting Gawker in bankruptcy after losing a sex tape lawsuit against Hulk Hogan, is set to file for personal bankruptcy protection on Monday according to numerous press reports.

US Launches Air Strikes Against ISIS Targets In LIbya

In what comes as the most expected geopolitical development in recent years, moments ago the United States announced that it had launched multiple airstrikes against Islamic State militants in Libya on Monday, opening a new, more persistent front against the group at the request of the United Nations-backed government, Libyan and U.S. officials said.

"Ominous" Oil-Equity Divergence Looms As WTI Tumbles Under $40 To 4-Month Lows

This is a crucial level as BofA warns, should oil slice through $40/bbl, attention will quickly switch to weak oil, weak Chinese renminbi and weak credit in a repeat of last summer.

As Oil Tumbles, Just How (Massively) Overpriced Are Energy Companies? Here Is One Answer

The answer is shown in the following chart from BofA. A rough calculation suggests that unless oil manages to credibly rebound and sustain its bounce, energy companies appear to be overvalued by about 50%.

The Burrito Index: Consumer Prices Have Soared 160% Since 2001

Our money is losing its purchasing power much faster than the government would like us to believe.

Hillary’s Latest Headache: Skolkovo

The subject of Russia’s influence in American politics has been a hot topic of late, particularly as the MSM continues to link Donald Trump to Vladimir Putin and the DNC hack. However, a report published by the Government Accountability Institute presents a new twist in the Kremlin-US political ties. It all started with the 2009 “Russian reset” touted by then-Secretary of State Hillary Clinton.

VIX Smash Sends S&P 500 To Fresh Record Highs

Another day, another dip bought to record highs...

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