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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.
Pick your poll: Trump +3, Clinton +5, Clinton +1, Trump +4, Clinton +7.
"think about it for a second"...
"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"
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?
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.
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.
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.
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%.
Our money is losing its purchasing power much faster than the government would like us to believe.
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.
Another day, another dip bought to record highs...
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