THAT WAS FAST: ‘Roseanne’ Canceled at ABC Following Racist Tweet.

  ABC, in a stunning move, has decided to cancel its Roseanne revival following star Roseanne Barr’s racist tweetTuesday. “Roseanne’s Twitter statement is abhorrent, repugnant and inconsistent with our values, and we have decided to cancel her show,” ABC Entertainment president Channing Dungey said Tuesday. Early Tuesday, star, head writer and exec producer Barr attacked former President Obama … Read more

How Systems Collapse

by Charles Hugh-Smith This is how systems collapse: faith in the visible surface of abundance reigns supreme, and the fragility of the buffers goes unnoticed. I often discuss systems and systemic collapse, and I’ve drawn up a little diagram to illustrate a key dynamic in systemic collapse. The key concepts here are stability and buffers. Though complex systems … Read more

‘EU’s Economic Performance Is Disastrous’ Rees-Mogg Blasts EU Over Italian Government Flop

via ALESSANDRA SCOTTO DI SANTOLO JACOB Rees-Mogg blamed EU’s arrogance for the collapse of the would-be new Italian populist government following Italian President Sergio Mattarella who vetoed an anti-euro minister proposed by the eurosceptic coalition. Speaking on LBC, the Tory backbencher argued President Mattarella’s decision to overthrow Italy‘s populist coalition showed EU’s condescension against the will of the Italian people following the … Read more

Recession 2020?

via Econbrowser Goldman Sachs (Hatzius et al., May 24): Ongoing rate hikes are likely to tighten financial conditions, at least gradually, and we expect growth to slow to a trend pace through 2019 even with fiscal stimulus still helping. From 2020, when the fiscal impulse ends, the risk of recession looks set to rise, but the … Read more

Bond traders are starting to price in the possibility of Italy leaving the euro zone.

Bond traders are starting to price in the possibility of Italy leaving the euro zone. https://t.co/JvC3eRWzwO The rise in 2-year Italian yields has been swift and fierce. pic.twitter.com/8CGUyrCF4x — Lisa Abramowicz (@lisaabramowicz1) May 29, 2018 I think it is becoming evident now that a -7 to -12% correction for Dow Europe is in the cards … Read more

The Oil “Price” Is A Key Political Tool

Times are tight enough … aaaand then fuel prices start to rise, further harming your pocket book, imminent travel plans, any sense of remaining monthly savings, and your general outlook for the future. Sound familiar? We’re in the thick of it yet again, just like a decade ago. And yet the trend of rising oil … Read more