JPMorgan Lays Out "The Worst Case"

"Longer term the implications for markets could be more serious. Investor positioning during the euro debt crisis can be thought of as the worst case for markets in the current conjuncture.  It would require another 10% decline in global equity indices from here, for the equity weighting of non-bank investors in the world to return to euro debt crisis levels in a worst case scenario. Such a decline would also push the current bond allocation of 22% to above the 23% peak seen during the euro debt crisis."

JPM Head Quant: Expect Up To $300 Billion In Program Selling, "5-10% Near-Term Downside To The S&P500"

"We see another 5-10% downside to the S&P 500 in the short term as likely, but we maintain our 2016 year-end price target at 2,000."

Civil Uprising Escalates As 8th EU Nation Threatens Referendum

Brussels simply went too far... They crossed the line moving from an economic union to a political subordination of Europe, and now eight more countries are threatening referenda.

 

Scotland Threatens To Veto Brexit

Earlier today Scotland's First Minister Nicola Sturgeon told the BBC that the Scottish Parliament could try to block the UK's exit from the EU. As we predicted yesterday, the Scottish National Party leader, who went through her own UK independence referendum  two years ago and is now considering yet another referendum, said that "of course" she would ask MSPs to refuse to give their "legislative consent".

Currency Carnage Continues: Cable, USDJPY Tumble As FX Markets Open

The calm is over. FX marksts are open and Cable is currently down another 170 pips, testing 1.3500 once again. USDJPY is also sliding back below 102.00 as the world awaits China's reaction with its official peg as offshore Yuan plunged on Friday...

In Latest Shock To Status Quo, Spanish Left-Wing Parties Set To Win Parliamentary Majority

Spain’s two main progressive parties, the 137-year-old Socialists and the anti-establishment group Podemos, appear to have won a majority of seats in parliament in Sunday’s election, according to exit poll data.

"The Global Economy Can No Longer Rely On Debt" - BIS Warns Central Bank Actions "Have Started To Backfire"

"The global economy cannot afford to rely any longer on the debt-fuelled growth model that has brought it to the current juncture... The world has been haunted by an inability to restrain financial booms that, once gone wrong, cause long-lasting damage... We need policies that we will not once again regret when the future becomes today."

 

Die Welt Calls For Merkel's Resignation, Slams "EU's Gravedigger"

"...voters in Britain basically also voted Angela Merkel out of office. Before she becomes the EU's gravedigger for good, she should follow David Cameron's example."

 

The Fining Of Black America: Are Municipalities Issuing Tickets Along Racial Lines?

"Given this evidence, it seems likely that police officers often fine African Americans at higher rates, even if Black people do not commit more infractions..."

The Rebellion Is Real; Brexit Was Merely A Warning

"...the actual disaster isn’t the vote, it’s the eight years of policy that made it thinkable... Brexit is not the disaster. The disaster is what they’re rowing from..." As soon as the focus returns to why the UK bailed in the first place the proper sympathy will shift from the poor Britons in a flimsy rowboat to Europeans still trapped on the Titanic.

 

New Haven Declares Public Health Emergency After "Never Before Seen" Heroin Overdose Epidemic

"We're looking at a public health emergency affecting the streets of New Haven" Deputy Director of Emergency Management Rick Fontana said. “We’ve had quite a hectic time,” he said. “I don’t recall an incident where it’s been like this.”

 

More Confusion: EU Tells Cameron To Hurry Up With Article 50 As Merkel Says No Need To Rush

Angela Merkel sought to temper pressure from Paris, Brussels and her own government to force Britain into negotiating a quick divorce from the EU, despite warnings that hesitation will let populism take hold. Eurosceptics in other member states applauded Britons' decision to leave the European Union in a referendum that sent shockwaves around the world, with far-right demands for a similar vote in Slovakia underlining the risk of a domino effect. Meanwhile, the EU is urging Cameron to promptly trigger Article 50, even as nobody really knows what the UK will do next...

The Fed's Rate Hike Plans Are Now "In Tatters" - What Wall Street Thinks

Any “faint prospect” of a Fed July rate increase has entirely vanished, ING economist Rob Carnell wrote in note adding that the longstanding ING call for Sept. hike looks to be “hanging in tatters.”  Here are more comments, courtesy of Bloomberg, from Wall Steet's so-called experts, none of whom predicted the actual a Brexit outcome, about U.S. monetary policy outlook following the outcome of the U.K. referendum.

George Soros: "Brexit Makes EU Disintegration Irreversible"

"Now the catastrophic scenario that many feared has materialized, making the disintegration of the EU practically irreversible. Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term. But the implications for Europe could be far worse."

Not Lovin’ it: McDonald’s to Close Over 500 Restaurants Worldwide to Stay Afloat

by Vandita, Intellihub:
Even as the world’s biggest fast food chain moves its headquarters to a $250 million 608,000-square-foot complex in Chicago’s West Side in the spring of 2018, McDonald’s intends to close about 500 weaker-performing, company-operated locations worldwide in 2016 to bolster profits.
McDonald’s spokeswoman Becca Hary confirmed the announcement, released just days after it withdrew its branches from Middle Eastern and three Latin American countries, in an email to The Street:
“It’s important to note that while we will have a net reduction in restaurants [in the US], the impact is minimal in comparison to the 14,000 restaurants we operate across the US. We consistently review our restaurant portfolio and make strategic decisions to better position our business for the future.”
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As US Home Prices Hit Peak Bubble, “Smart Money” is Selling

by Harry Dent, Wolf Street:
What do they know that we don’t?
Two weeks ago, I wrote about an upcoming New York City condominium listing for $250 million. I mention this because, as I’ve explained before, it’s always the tallest buildings and priciest condos to get hit during major downturns.
Just look at the early 1930s and mid-1970s marking peak bubbles if you don’t believe me!
You’ll understand, then, why I smiled when I saw a Forbes slideshow called “The Little Black Book of Billionaire Secrets,” featuring the most expensive homes in each of the 51 states, including Washington D.C.
North Dakota held the honor of the least expensive home, at just under three million dollars, now that the fracking boom has burst. The most expensive home was not in Manhattan, but in Florida – Palm Beach – at $159 million.
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Why Hillary Will Be Known as the FEMA Camp President

by Dave Hodges, The Common Sense Show:
My friend and colleague, Mike Roach posted the following information regarding the discovery of a converted FEMA camp discovered in Texas. The following still photo and subsequent video have caused quite the stir on the Internet.
This is the location of the former Crockett State School which was at one time, a juvenile detention center. The center was closed in 2011. Here is the facility on Google.
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Black Friday: Shocking Brexit Vote Result Causes The 9th Largest Stock Market Crash In U.S. History

by Michael Snyder, The Economic Collapse Blog:
Has the next Lehman Brothers moment arrived? Late Thursday night we learned that the British people had voted to leave the European Union, and this could be the “trigger event” that unleashes great financial panic all over the planet. Of course stocks have already been crashing all over the globe over the past year, but up until now we had not seen the kind of stark fear that the crash of 2008 created following the collapse of Lehman Brothers. The British people are certainly to be congratulated for choosing to leave the tyrannical EU, and if I could have voted I would have voted to “leave” as well. But just as I warned 10 days ago, choosing to leave will “throw the entire continent into a state of economic and financial chaos”. And “Black Friday” was just the beginning – the pain from this event is going to continue to be felt for months to come.
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BREXIT NIGHTMARE – WHAT’S NEXT?

by Andy Hoffman, Miles Franklin:
I rarely do this, but I’ve started writing with 90 minutes left in Friday’s historic trading day – sitting in my hotel room in Chicago, preparing for what will likely be the best business meeting of my 27-year career. Yes, as luck would have it, I four months ago scheduled Miles Franklin’s Chicago Q&A Rap Session – featuring myself and President and Co-Founder Andy Schectman – for tonight, with not a clue what a momentous day it would be. To that end, for those that would like to see what such meetings are about, here is a link to the 3½ hour session we did in Houston last month, hosted by Daniel Ameduri of Future Money Trends.
I’m still working on 2½ hours of sleep, having awoken at 1:00 AM to write today’s MUST READ first reaction to the Britain’s political shot heard round the world, “historic BrExit vote marks commencement of the end game of global currency collapse; the demise of the European Union; and imminently, the gold Cartel itself.” But during this whirlwind day, sleep deprived as it has been, I’ve thought more clearly than ever before – about what just occurred, and what comes next.
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A Rather Quick Move Towards $1,900: Jim Willie Breaks Down BREXIT Impact On Gold Prices

from Silver Doctors:

Global Elite Makes Good on Threats to “Make All of You Poorer” After Britain Independence

by Claire Bernish, The Free Thought Project:
Markets are crashing to 30-year lows. Elites are panicking, stunned by the gall of the U.K. ignoring their warning a vote for Brexit would, for all intents and purposes, be the end of the world as we know it. Prime Minister David Cameron stunningly tendered his resignation.
Britain declares independence!
Breaking ties with the European Union the people apparently felt no longer served a purpose — perhaps not wanting more of that world we know — and France, Italy, the Netherlands, Scotland, and even Northern Ireland might not be far behind. With a voter turnout reportedly exceeding 72 percent, Brexit won by 51.9 percent.
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POST BREXIT SPECIAL REPORT: “The New Agenda Of FEAR.”

from GregoryMannarino:

Democrats Attack Bill of Rights to Destroy Political Enemies

Are you a “potential terrorist” on a secret watch list?
by Kurt Nimmo, Infowars:
Democrats are waging a war on due process, the rule of law, and the principle of legal rights going back to the Magna Carta.
Clause 39 of the Magna Carta issued by John of England in 1215 declares: “No free man shall be seized or imprisoned, or stripped of his rights or possessions, or outlawed or exiled, or deprived of his standing in any other way, nor will we proceed with force against him, or send others to do so, except by the lawful judgment of his equals or by the law of the land.”
For Democrats in the House and Senate, lawful judgment is no longer relevant. In their zeal to outlaw firearms and demolish the Second Amendment, Democrats and their progressive fellow travelers are striving to dismantle laws and legal proceedings for Americans included on secret lists compiled and held by the state. This represents the very essence of a police state.
“The Democrats demand that Americans be stripped of their Second Amendment rights with no attention paid to the Fifth Amendment, to due process,” writes Kevin Williamson. “They propose that Americans be stripped of their legal protections under the Bill of Rights even when they have not been charged with, much less convicted of, a crime. They propose that this be done on the basis of a series of secret government lists, whose contents, criteria, and keepers are treated as state secrets.”
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The 8 Most SURPRISING Places You’ll Find GMOs

by S. D. Wells, Natural News:
Half of all Americans will get cancer in their lifetime, and only half of them will survive. That’s at least one fourth of all Americans who will die from a preventable disease that virtually did not exist in America a century ago.
Now here comes a big question: Why will the other half never get cancer? Easy, simple answer that the half who get cancer never believe – organic food and natural medicine. Yet, medical doctors in America have totally convinced all the sheeple that the only way to prevent, treat, or cure any disease or disorder is with chemical medicine – another cause of cancer.
The naive, uneducated, stubborn junk-science eaters use all the same excuses, over and over and over. They say: “Organic food is too expensive,” or, “Those anti-vaccine fanatics are crazy,” or, “There’s no way food is going to heal my cancer,” or, “Cancer runs in my family,” or, “It’s all genetics,” or, “I’m going to a ‘world class’ cancer treatment center,” or, “We all die some day.” Sure, but who wants to die early, and from cancer?
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