Investors Are Fleeing As Attention Returns To Brazil's Depression

Submitted by Tyler Durden on 05/31/2016 - 14:47 Now that the market's fascinated dream with the regime of Brazil's new president Michel Temer is quickly turning into a nightmare, following two immediate resignations of his closest ministers over the ongoing Carwash corruption scandal, including ironically that of the country's anti-corruption minister, Fabiano Silveira, attention is gradually returning to what is truly the cause of Brazil's woes: an unprecedented economic depression.

Sweden's Migrant Rape Epidemic Explained

Submitted by Tyler Durden on 05/31/2016 - 13:41 How did peaceful Sweden go from being a quiet, low-crime country to being the country with the second-highest incidence of rape in the world? Why has Sweden experienced a 1,472% increase in the annual number of rapes?

Barclays Director Arrested For Giving Plumber Trading Tips in Exchange for Home Renovations

Submitted by Tyler Durden on 05/31/2016 - 14:26 Is there any illegal activity that someone at Barclays hasn’t been accused of engaging in?

Dow Dumps Into Red For May As Oil Fails To Hold $50

Submitted by Tyler Durden on 05/31/2016 - 14:16 Having tried (and failed) twice to hold $50, WTI Crude futures plunged back into the red as machines ran out of stops to churn. This triggered another notable leg lower in stocks, slamming The Dow into the red for May... Gold and bond are best since the Friday close.

Trump Slams "Sleazy" Media Over Donations; "Stop Using Veterans As Political Pawns"

Submitted by Tyler Durden on 05/31/2016 - 14:07 Following media machinations over his donations to Veterans, Donald Trump struck back today in a press conference, raging that the liberal media "should be ashamed," and singling out ABC's Tom Llamas as a "sleaze." The Donald then turned the microphone over briefly to Al Baldasaro, a veteran from New Hampshire who skewered the news media, saying reporters should ''get your head out of your butt - focus on the real issues...stop using veterans as political pawns."

Peak Insanity: This "Trophy Apartment" In Manhattan Is Going For A Cool $250 Million

Submitted by Tyler Durden on 05/31/2016 - 13:57 In April we pointed out that due to an already abundant supply of condos on the market, luxury real estate developer Extell Development Co couldn't sell luxury condo's at its One57 tower, in the heart of New York's premier ultra luxury destination... and now, documents filed in April with the state attorney general's office reveals a "trophy apartment" for sale in the complex, with a price tag of a cool $250 million...obliteraing the previous $88 million high - "That $88 million sale triggered the sense that there was this yet-to-be-harvested, nine-digit New York housing market. We started to see a frenzy of $100 million listings – what I call aspirational pricing."

These Are The Best And Worst U.S. Cities To Own A House

Submitted by Tyler Durden on 05/31/2016 - 13:33 For those lucky Americans who can afford to own a house instead of being stuck renting the New Normal American dream where they are prohibited from peddling fiction as their annual rent increases by 10% or more each year, here is the breakdown of the best and worst cities for home price appreciation in the U.S.

Huffington Post Removes Article Claiming Hillary Will Be Indicted On Federal Racketeering Charges

Submitted by Tyler Durden on 05/31/2016 - 13:28 The Huffington Post has removed an article on its website Sunday, claiming that the FBI plans to indict Hillary Clinton on federal racketeering charges.

A New Problem Emerges For Hillary: Obamacare

Submitted by Tyler Durden on 05/31/2016 - 13:19 With more Americans having an unfavorable view of Obamacare than favorable and Clinton continuing to take credit for the law on the campaign trail, establishment Democrats are beginning to realize another (non-email, non-charity, non-vote-fraud-related) crisis looms for Hillary - the problem of dramatically higher Obamacare premium hikes in an election year. With the redistribution and disincentive to work that we already detailed about to get considerably worse, Senate leader Mitch McConnell asked pointedly, "maybe Democrats think the middle class should just get over double-digit premium increases..."

In Its First Ever Bond Sale, A Cash-Starved Saudi Arabia Is Looking To Issue $15 Billion

Submitted by Tyler Durden on 05/31/2016 - 13:17 Saudi Arabia is planning to hit up the international bond markets for cash for the first time ever as the kingdom grapples with plunging oil revenue.  The middle-eastern nation is planning to raise as much as $15 billion in the bond sale.

The Five Stages Of Central Bankers' Failure

Submitted by Tyler Durden on 05/31/2016 - 12:47 Only when central bankers accept the complete and utter failure of their policies and accept the reality that their policies have increased wealth inequality and crippled the global economy with debt, speculation and manipulation, can we finally move forward. Until then, we're stuck with the world central bankers have created: a world of rising wealth and income inequality, of permanent manipulation of markets as a means of managing perceptions and of speculative debt/leverage bubbles that will burst with a ferocity few expect or understand.

The "Crazy Growth In Corporate Debt" Is Finally Noticed: Bloomberg Issues Stark Warning

Submitted by Tyler Durden on 05/31/2016 - 12:24 One does not have to be financial wizard to to know that a firm which has to borrow more than it can generate from core operations is not a sustainable business model, and yet today's CFOs, pundits and central bankers do not. But more are starting to pay attention as the corporate debt pile hits epic proportions. As Bloomberg writes this morning, when it also issued a stark warning about the next source of credit contagion, while "consumers were the Achilles’ heel of the U.S. economy in the run-up to the last recession. This time, companies may play that role."

$50 Oil Doesn't Work

Submitted by Tyler Durden on 05/31/2016 - 12:07 $50 per barrel oil is clearly less impossible to live with than $30 per barrel oil, because most businesses cannot make a profit with $30 per barrel oil. But is $50 per barrel oil helpful? Gail Tverberg argues that it really is not.

US State Department Issues European Travel Alert - Warns Of Terrorist Attacks

Submitted by Tyler Durden on 05/31/2016 - 11:31

The Obamacare Cliff: Redistribution & The Disincentive To Work

Submitted by Tyler Durden on 05/31/2016 - 11:22 As awful as Obamacare has been at its purported goal of making health care affordable, it has been unquestionably successful at one of Obama's other primary goals: the redistribution of wealth.  Unfortunately, the poor design of the redistribution function is one of the reasons Obamacare is failing. This will not end well.

US Government "Finds" Americans Had $70 Billion More In Disposable Income

Submitted by Tyler Durden on 05/31/2016 - 11:02 Just one week after the US Department of Commerce quietly slashed historical US capex spending by billions of dollars following a major data revision it was time for another major revision to a series that is nearer and dearer to most Americans' hearts, namely Disposable Personal Income. Here, the US Dept of Commerce just "revised" personal wages high enough to add over $70 billion in disposable income to US pockets over the past 6 months.

Stocks, Cable Slide On Brexit Poll Surprise

Submitted by Tyler Durden on 05/31/2016 - 10:50

Dallas Fed Tumbles (Again) - 17th Consecutive Month Of Contraction

Submitted by Tyler Durden on 05/31/2016 - 10:39 This is the 17th month in a row of contraction for Dallas Fed's manufacturing survey as the headline print plunged to -20.8 from -13.9 (missing expectations of a hopeful bounce to -8.0 by 6 standard deviations). Despite the unequivocally good rebound in oil prices, sentiment in Dallas remains dismal with new orders crashing as even 'hope' has now given way to realism as the 6-month outlook tumbles back into negative territory.

Oil Spikes Near $50 On Libya Turmoil Despite Highest OPEC Production Since 2008

Submitted by Tyler Durden on 05/31/2016 - 10:22 In its ubiquitous manner, crude futures decided to try and run the stops at the US equity open but were unable to get to $50 (49.984 in July WTI) before fading back a little. Ths driver - according to the narrative-du-jour - is turmoil in Libya and ongoing Nigeria and France disruptions, which are both offsetting a surge in OPEC production to its highest level since 2008 in the minds of the machines. "The market is pretty much on hold until we get all this information," says Deutsche Bank's Jens Pedersen of the data dump and OPEC meetings this week. "We need to get that out of the way to see if there is a reason for oil to go higher."

Consumer Confidence Plunges To 10-Month Lows As Job 'Hope' Fades

Submitted by Tyler Durden on 05/31/2016 - 10:09 The Conference Board's consumer confidence measure has hovered around the 95 level for the last 6 months (as gas prices dipped and ripped, as stock prices dipped and ripped, and as political chaos reigned). This 'stability' is in stark contrast to other surveys of confidence such as Bloomberg's and Gallup's which are both at multi-month lows... until today. Consumer Confidence plunged to 92.6 (missing expectations of 96.1 by the most since November). May's dismal print (a 3 sigma miss) is below the lowest of 68 economist estimates as expectations slipped modestly but Present Situation tumbled with optimism on jobs sliding to 6-month lows.

The Fascinating Story Of How The Petrodollar Was Born And Lived In Secrecy For Over 40 Years

Submitted by Tyler Durden on 05/31/2016 - 10:02 For decades, the story of Saudi Arabia recycling US petrodollars, i.e., funding the US deficit by buying US Treasuries with proceeds of its crude oil sales (mostly to the US), while the US sweetened the deal by providing the Saudis with military equipment and supplies, remained entirely in the conspiracy realm, with no confirmation or statement from the US Treasury department. Now, that particular "theory" becomes the latest fact, thanks to a fascinating story by Bloomberg which lays out the history of how the petrodollar was born...

Chicago PMI Slumps Back Into Contraction; Election Blamed

Submitted by Tyler Durden on 05/31/2016 - 09:51 Having wavered around the magical '50' level for much of the last year, bouncing off December plunge lows, Chicago PMI printed below expectations of 50.5 at a contractionary 49.3 - the 6th month of contraction in the last 12 months. With weakness in new orders (lowest since Dec 2015) and production (both back into contraction), MNI notes that on the heels of April's decline, the latest results show activity stumbling in the second quarter, following only moderate growth in Q1.

Allergan Stock Surges After Carl Icahn Announces "Large Position" In The Company

Submitted by Tyler Durden on 05/31/2016 - 09:28 Carl Icahn appears to be a big fan of Brent Saunders. After Icahn was instrumental in placing his favorite CEO at the top of Forest Labs before it was acquired by Actavis several years ago - a deal which made then Forest Labs investor Carl Icahn hundreds of millions in profit - the billionaire investor is now doubling down on Saunders, and moments ago the billionaire investor announced that he has acquired a "large position" in Allergan, and confirms he is "very supportive of CEO Brent Saunders."

NATO Ally Erdogan Says "Contraception Is Treason, Women Not Equal To Men, Muslims Must Multiply Descendants"

Submitted by Tyler Durden on 05/31/2016 - 09:23 In a stark warning as to what will happen if Chancellor Angela Merkel allows Turkish citizens visa-free travel throughout Europe, US and NATO ally Turkish President Recep Tayyip Erdogan says "Contraception is Treason, Women Not Equal to Men, Muslims Must Multiply Descendants ."

Apple Back Under $100 On News It Will Extend iPhone Lifecycle To 3 Years, Cites Slowing Demand

Submitted by Tyler Durden on 05/31/2016 - 09:20 In what, if confirmed, would be a major move for Apple's product development cycle, overnight Japan's Nikkei reported that Apple is moving from its existing "innovation cycle" with a major iPhone refresh every two years to a three-year cycle.  According to Nikkei the move is prompted by two factors, and is "largely due to smartphone functions having little room left for major enhancements. A slowing market is another factor."

Marc Faber Warns Of "Moral Degeneration" From America's "Consensual Hallucination"

Submitted by Tyler Durden on 05/31/2016 - 08:54 The flood of money that central banks are creating pollutes the Western capitalistic system and free markets, as well as democracy. The consequences are anemic economic growth, deep social discontent, a culture of cheating, and moral degeneration. At the same time, “the bureaucracy is expanding to meet the needs of an expanding bureaucracy” (Oscar Wilde). Hardly a recipe for sustainable economic growth and rising standards of living.






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