Leaking Las Vegas: West’s Biggest Reservoir Nears Critical Threshold

Lake Mead – the West’s largest reservoir – is running dry again and is on track to fall below a critical threshold in 2020, according to a new forecast by the Bureau of Reclamation. In 2016, Lake Mead water levels drop to new record lows (since it was filled in the 1930s) leaving Las Vegas…

S&P Downgrades Turkey To B+, Forecasts „Recession“ And „Hard Landing“

Just hours after Fitch fired off the latest rating agency warning shot against Turkey, warning that the actions Erdogan has undertaken so far are „insufficient to restore policy credibility“, traders were keenly looking at the scheduled update of S&P’s BB- rating of Turkey, which with an „outlook negative“ would most likely be a downgrade. Sure…

Global Stocks Slump, US Stocks Jump Despite Economic Data Dump

After a week like that, this seemed appropriate… Before we get started, let’s note that all is not well in the world (despite the constant happy-talk on ‚Murican media)… Global stocks are down 14% from their all-time-high in January…   Year-to-Date… US Stocks are dominating…   31-month lows for SHCOMP as Chinese stocks had another…

Buy Gold, Sell Small Caps – PIMCO Warns Late-Cycle Risks Are Rising

Authored by Mihir Worah via PIMCO, EXECUTIVE SUMMARY At this stage in the cycle, investors should consider inflation risk, market dispersion, recession risk and other key factors we discuss in our midyear update. We identify five opportunities for the near term as well as provide updated asset allocation views and positioning. Investment opportunities, from an…

The Turkish „Doom Loop“ In One Chart

In a scathing report published earlier today, rating agency Fitch which last month downgraded Turkey to BB, „outlook negative“, warned that the moves taken by the Turkish government remain insufficient to restore credibility, and said that the incomplete political response cannot fully address underlying causes of lira’s fall, namely large current account deficit & external…

Rosenberg: „Is The Stock Market Flashing An Anti-Growth Signal?“

August has been an ugly month. Look around the world and most assets are suffering as the lagged reality of shrinking central bank balance sheets and a Fed-enabled dollar-shortage has sparked a renewed anxiety the likes of which we have not seen for a decade. There’s just one thing – despite all this turmoil, US…

Jim Kunstler Exposes The Democratic Party’s „Three-Headed Monster“

Authored by James Howard Kunstler via Kunstler.com, The faction that used to be the Democratic party can be described with some precision these days as a three-headed monster driving the nation toward danger, darkness, and incoherence. Anyone interested in defending what remains of the sane center of American politics take heed: The first head is…

Stocks, Yuan Jump On Reports Of US-China „Roadmap“ For Trade-Talks

US equity markets are jumping to the highs of the day after the Wall Street Journal reports  that Chinese and U.S. negotiators are drawing a road map for talks to end trade deadlock, culminating with meetings between U.S. President Trump and Chinese President Xi Jinping at multilateral summits in November, citing officials in both nations….