Once the narrative is established, it’s difficult to dislodge. And progressive Hollywood is the Terminator of establishing narratives — they never quit.

by

CHRISTIAN TOTO: Why Hollywood Can’t Quit The Mueller Report. It’s also worth pointing out that many of Saddam Hussien’s generals were convinced that his regime was holding weapons of mass destruction. Of course, he had an active weapons program, and used them on his own people as well as the Iranian military. But that program ended … Read more

DOW on Pace to Notch Record High… But job gains hint at slowing economy; Trade deficit surges

by

Dow Industrials on Pace to Notch Record High The Dow Jones Industrial Average rose a fourth straight session, pushing the blue-chip index above its record closing level in intraday trading Wednesday. The Dow industrials gained 92 points, or 0.3%, ahead of its early close Wednesday before Thursday’s Independence Day holiday. The index surpassed its Oct. … Read more

Trump signed a new bill to reform the IRS

by

Yesterday at exactly 4:17 EDT the Don signed a new bill reforming the mafia I mean the IRS lolol.The bill stops the IRS from taking money from US citizens and giving it to the queen of England and the Vatican. Bill 3151 actually abolishes the IRS officially.The new tax system goes into effect on 1/1/2020 … Read more

SUMMER BOXOFFICE MELTDOWN CONTINUES

by

via variety: It wasn’t supposed to be like this. Heading into the new year, box office analysts were bullish that 2019 would beat, or at least match, the record-breaking success of last season. Followups to “Avengers,” “Secret Life of Pets” and “Godzilla” combined with reboots of storied franchises such as “Men in Black” and “Shaft” would elevate ticket … Read more

DAY TURNS NIGHT IN S. AMERICA

by

via AP:   Tens of thousands of tourists and locals gaped skyward Tuesday as a total eclipse of the sun darkened the heavens over Chile and Argentina. Tourists from around the world gathered to witness the cosmic spectacle, which began in the morning as the moon crossed in front of the sun and cast a … Read more

Vested Interests in Charge = Guaranteed Failure

by

by Charles Hugh-Smith It boils down to two very simple principles: accredit the student, not the institution and teach every student how to rigorously learn on their own. Vested interests have every incentive to maintain the status quo: specifically, those who currently own the assets, income streams and power will continue to own the assets, income streams and power. … Read more

Trucking is Infamously Cyclical, But This is a Tad Extreme

by

Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter After truck manufacturers eat up their backlogs, then what? Orders for heavy trucks plunged by 69% in June compared to June last year, to 13,000 units, after having plunged by 71% in May, to just 10,400 units, FTR Transportation Intelligence reported today. It was the eighth month in a row of year-over-year declines. … Read more

Desperate London Bankers Brace For Thousands Of Job Cuts As ‘Summer Of Gloom’ Begins

by

via Zerohedge: Yesterday, we reported about the increasingly dejected atmosphere at Deutsche Bank’s Wall Street headquarters, where the looming fear that the bank is going to gut, shutter or sell most, if not all, of its US i-banking business has inspired those remaining employees to openly hunt for other jobs, while some managers and more junior employees … Read more

The Destruction Of The [CB] Includes The [IRS]

by

Trump continues tweeting out letting everyone know how great the economy is. This is part of the plan to control the narrative going into the 2020 elections. Behind the scenes, the [CB] economy is ripping itself apart. Trump just signed a bill making it illegal for the IRS to seize your assets without a crime. … Read more

How hedging your bets can be useful

by

by Cre8or_1   Here’s an example of when a hedge can be useful: You own a lot of SPY (S&P500 ETF) shares. Now you are afraid of a downturn, instead of selling now and rebuying your shares later (which costs you fees & taxes on gains you had), you buy some OTM puts. This protects you … Read more

Don’t look now, but US residential construction spending fell 11.16% year over year in May.

by

Don't look now, but US residential construction spending fell 11.16% year over year in May. pic.twitter.com/mQrKZNqqZa — Eric Basmajian (@EPBResearch) July 1, 2019 Total construction spending declined 2.30% year over year in May. https://t.co/zp0RuNnqjz pic.twitter.com/Ecx7X0UsIU — Eric Basmajian (@EPBResearch) July 1, 2019 And Powell better cut 100 bps asap https://t.co/ABpOpcgyuy — zerohedge (@zerohedge) July 2, … Read more

77% of 113 companies that have pre-announced for the second quarter indicate profits will be below expectation. Normally it’s around 70%.

by

With earnings season looming, 77% of companies issuing pre-announcements say their profit picture will be worse than Wall Street is expecting. That’s the second-worst quarter on record going back to 2006, according to FactSet. Two tariff-sensitive sectors, tech and health care, have seen the highest amounts of negative announcements.   Stocks may have brushed up … Read more

Inspector General Investigation Complete, WH Says It’s Hammer Time

by

[HRC] responds to Trump tweet about Foundations, this is what we call projecting. Cummings wants email and phones from the Trump administration, the [DS] is now suing for Trump’s tax returns. Trump tweets out that Mueller’s testimony will follow the report, but we know behind close doors Weismann will be testifying, Patriots have already countered … Read more

Deutsche Bank, GSEs & Systemic Risk – Chris Whalen

by

via theinstitutionalriskanalyst: New York | In this issue of The Institutional Risk Analyst, we ponder how the actions or inaction of policy makers can create systemic events.  In the next issue, we’ll dive into Q2 2019 earnings for banks and non-banks. Of interest, the Q2 edition of The IRA Bank Book is now on sale at our online store.   News last … Read more

ALERT: Twitter EXPLODES After 2020 Dem⁩ Wants YOU To Pay For This Operation

by

https://www.youtube.com/watch?v=VQbjFJyVn4I 100% Fed Up reports, Bill de Blasio was asked during his appearance at the New York City Pride March about gender reassignment surgery and if it should be paid for by taxpayers. He did what most of the other Democrats running for president did…he pandered. de Blasio is struggling in the polls so he’s … Read more