Hedge funds have field day front-running the liquidation. 300,000 investors left twisting in the wind.

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By Nick Corbishley, for WOLF STREET: Neil Woodford, the manager of shuttered asset management fund, Woodford Equity Income fund, just had one heck of a black Friday. First came news that Link Fund Solutions, which manages the corporate governance of Mr Woodford’s investment vehicles, had slashed the valuation of cold fusion developer Industrial Heat, one of Woodford’s largest unquoted … Read more

Lenders Fear Ascena with 3,519 Stores May File for Bankruptcy: Source

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Cash running low. Brick & mortar meltdown for landlords. Shares annihilated.  Ascena Retail Group – which operated 3,519 stores of the brands Dressbarn, Ann Taylor, Loft, Lou & Grey, Lane Bryant, Cacique, Catherines, and Justice – may soon file for bankruptcy. That is the fear of a group of about 40 … Read more

The Benefits of a Profoundly Shattering Recession

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by Charles Hugh-Smith Does anyone really think The Everything Bubble can just keep inflating forever? What do I mean by a profoundly shattering recession? I mean, a systemic, crushing recession that can’t be reversed with central bank magic, a recession that only deepens with time. The last real recession was roughly two generations ago in 1981; younger generations have … Read more

WHY OBAMA DROPPED BIDEN: “Obama, it turns out, cares about one thing: himself. He is obsessed with his political legacy. Every day that Joe Biden stays on the campaign trail, he detracts from that.”

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via townhall: One of the more poignant moments of Barack Obama’s presidency came at the very end, in January 2017, just days before he left the White House. He awarded Vice President Joe Biden the Presidential Medal of Freedom. Obama spoke at great length about their personal friendship and praised Biden’s leadership. In response, Biden said … Read more

The Big Picture Just Got NASTY For Stocks

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by The Phoenix The markets are now in serious trouble. Friday’s collapse was just a taste of what I think is coming. Stocks dropped over 2% in a single day with the S&P 500 falling to test support in the trading range I’ve been tracking. We are due for a bounce on Monday, but the momentum … Read more

Here It Comes: Silicon Valley Is Building Chinese Style Social Credit System

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via fastcompany: Have you heard about China’s social credit system? It’s a technology-enabled, surveillance-based nationwide program designed to nudge citizens toward better behavior. The ultimate goal is to “allow the trustworthy to roam everywhere under heaven while making it hard for the discredited to take a single step,” according to the Chinese government. In place since 2014, … Read more

What Globalism Did Was To Transfer The US Economy To China

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 by Paul Craig Roberts The main problem with the US economy is that globalism has been deconstructing it. The offshoring of US jobs has reduced US manufacturing and industrial capability and associated innovation, research, development, supply chains, consumer purchasing power, and tax base of state and local governments. Corporations have increased short-term profits at the expense … Read more

Trump Says China “Called”, Wants To Restart Trade Talks; China Denies, Has No Idea What Trump Talking About

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via Zerohedge: We have reached the “hallucination” phase of the trade war. With Trump making it clear on Sunday night that he was staring at the plunging US equity futures in sheer horror, tweeting that “my stock market gains must be judged from the day after the Election, November 9, 2016, where the Market went up big … Read more

China v US Trade War

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by Martin Armstrong China understands the difference between the German mercantilist model of manufacturing and sells to everyone else and the United States which became the largest economy in the world because it allowed its domestic consumer economy to develop. China will become the largest economy in the world and take the crown from the … Read more

Why the Brexit Turbo would be good for Boris, but a disaster for Britain.

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by John Ward A clear Team Boris synthesis for success is becoming clear. The populist thesis of Boris ‘I’m well ‘ard, me’ Johnson was followed by the Boris ‘I’m ever so ‘umble’ Johnson antithesis he presented during three days on the continent earlier this week. The dialectical outcome will be No Change: Boris the Spider – … Read more