First Picture Of Dallas Shooter Micah X. Johnson Emerges

According to Dallas Police Chief David Brown, who said that during the exchange of gunfire with the suspect, he made the following announcement: "The suspect said he was upset about Black Lives Matter," said Brown, who is black. "He said he was upset about the recent police shootings. The suspect said he was upset at white people. The suspect stated that he wanted to kill white people, especially white officers."

Black Power Political Organization Takes Responsibilty For Murdering 5 Dallas Cops

"Sniper Assassins Take Down Five Police Officers! And More Will Be Assassinated In The Coming Days! Do You Like The Work Of Our Assassins?"

90% Of June Job Gains Went To Workers 55 And Older

when breaking down the job additions by age group as per the Household Survey, of the 180K jobs added in this particular survey, 259,000 were in the 55 and over age group, while only 28,000 were added in the critical 25-54 age group. Young workers, those under 24, lost a collective 107,000 in June. In other words, 90% of all job gains in the month went to workers 55 and over.

Dallas Massacre Boosts Gun-Maker Stocks

As a continuation of our comments from Thursday afternoon, we are watching gun-maker stocks skyrocket this morning as the country prepares for perhaps more restrictive measures on how guns can be purchased in the US.

Goldman Now Sees A Two-Thirds Chance Of A Rate Hike In 2016

US employment growth rebounded sharply in June, according to Goldman's Jan Hatzius, and as a result, the bank confirms their expectation of about a two-thirds chance that the FOMC will raise rates this year, most likely in December... notably different from market expectations.

A Nation Run by Idiots?

If being stripped of your Constitutional right to defend yourself makes you more “safe” according to the government - you might live in a nation that was founded by geniuses but is run by idiots

WTI Plunges To $44 Handle As 2015 Redux Looms

After the quick post-payrolls exuberance, WTI Crude prices are plunging back to a $44 handle - 2 month lows - as memories of 2015's seasonal pump and dump re-appear.

Suspect Exchanges Gunfire With Police Officer In Georgia: AP

Authorities say a suspect exchanged gunfire with a police officer in south Georgia, but it's unclear if anyone was wounded. A news release from the city of Valdosta says a police officer was called early Friday to investigate a report of property damage. That officer encountered a man in the parking lot of an apartment complex, and gunshots were then exchanged.

Where The June Jobs Were

While the quantitative aspect of the June jobs report was stellar, so stellar in fact that not a single Wall Street forecaster expected it would happen, the next question is what was the qualitative component of this unprecedented Establishment Survey beat. Here are the details of the 287K jobs supposedly added.

Dow Tops 18k, S&P Over 2,100 - Erase All Brexit Losses

Brexit? What Brexit?

Gold, Yen, Bonds Soar

Treasury Yields Tumble, Curve Flattens As Hilsenrath Hints At September Rate-Hike

Treasury yields have slumped back lower (and the policy-error-suggesting curve is flattening dramatically), after the initial knee-jerk spike, as Fed-whisperer Jon Hilsenrath hints that September is back on The Fed's table...

Jim Simons' Atomic Effort To Thwart HFT

Rigged? The issue of being front run by nanosecond HFT has now become so prevalent that Jim Simons needs his own patented atomic clock system just to protect his trade execution timing!

Stocks Jump; Bonds, Bullion Dump As Rate-Hike Odds Rise On Payrolls

Gold and Silver were going crazy into the payrolls print... and then plunged...

June Employment Soars By 287K, Smashing Expectations, Highest Since October

So much for that terrible May jobs report: one month after the BLS reported the worst jobs report since 2010, moments ago the BLS reported that in June jobs increased by a whopping 287K, the highest increase since the 295K reported in October 2015, despite a downward revision to last month's 38K which is now up 11K.

A Precarious State

The global political/economic state feels precarious for a good reason: it is precarious.

Fearing Confiscation, Japanese Savers Rush To Buy Gold And Store It In Switzerland

In the face of a clear lack of trust in Japanese leadership, local investors are buying gold to store in Switzerland. The reason: they are increasingly worried about confiscation which is why they are storing it half way around the globe.  The number of buyers jumped 62% in the first six months from the second half of 2015, Atsuko Sato Whitehouse, head of Japanese markets at the London-based investment service, said this week.

One Trader's Take On Today's Jobs Number

Non-farm payrolls are coming. There’s no shortage of opinions on what the numbers will be. And if they come in as widely expected, they’ll be pretty good. Good enough that had this been last month, we’d still be having the tiresome “every month is live” debate.  This time around, markets may have to deal with how to trade a result where the number is sound, maybe even outright strong, and we’re still on perma-hold. A weak number will stink for the economy but is relatively easy to react to.

Ukraine Teens Embrace Soviet Style Military Training

Yesterday we noted the US Marines decision to relax the requirements attached to the force's physical fitness test. As the US does whatever it takes to boost their enlistment numbers, Ukraine youth squads wearing Russian soldier uniforms are breaking down Kalashnikovs inside 10 seconds, blindfolded.

Lagarde Flip-Flops Again On Brexit, Warns Of "Disastrous" Trump-Style Protectionism

Ahead of the vote on Brexit, IMF head Christine Lagarde warned of a prolonged period of uncertainty. After the vote, Largarde said Brexit provided the EU a better opportunity for reform. Today Largarde is certain of disastrous consequences if another large county turns protectionist. In doing so, she pointed her finger at Donald Trump.

AG Lynch Explains Who (Or What) Is Really To Blame For The Dallas Massacre - Live Feed

Having shrugged off Hillary Clinton's "reckless" emails, Attorney General Loretta Lynch will deliver her remarks on the police and civilian murders in Dallas overnight, careful to tread a fine line between 'blaming the guns', not infuriating Hillbama's base, and ensuring the support of the government's enforcers...

World Faces Deflation Shock as China Devalues at Accelerating Pace

by Ambrose Evans-Pritchard, The Telegraph:
China has abandoned a solemn pledge to keep its exchange rate stable and is carrying out a systematic devaluation of the yuan, sending a powerful deflationary impulse through a global economy already caught in a 1930s trap.
The country’s currency basket has been sliding at an annual pace of 12pc since the start of the year. This has picked up sharply since the Brexit vote, suggesting that the People’s Bank (PBOC) may be taking advantage of the distraction to push through a sharper devaluation.
“This makes a mockery of the PBOC’s suggestion that its policy is to keep the currency’s value stable,” said Mark Williams, chief China economist at Capital Economics. “Markets will not take PBOC policy statements at face value in the future.”
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It’s Time to Stop Saying – “But Cops Have a Dangerous Job”

from Liberty Blitzkrieg:
Earlier today, I mentioned that I couldn’t muster the energy to write more words about the police murder of Philando Castile. Things have changed.
As is often the case, it was a series of tweets I composed that provided the inspiration for this piece. One tweet in particular really set things off:
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