With “Exceptionalism” Like This, Who Needs Enemies? Authored by Peter Tchir via Academy Securities, Last weekend we suggested that “I Like My Exceptionalism to Be Exceptional” and highlighted data that was anything but exceptional. As the Citi Economic Surprise Index continues to fall, and CONsumer CONfidence showed anything but confidence, it seemed like a good idea to add to last weekend’s theme. More on […]

At Least 360,000 Flee Rafah As Israel Touts ‘Precision Operation’ Against Biden Criticism An estimated 360,000 Gazans have fled the southern city of Rafah as the Israel Defense Forces concentrate a ground operation on the eastern half of the city, the main UN aid agency UNRWA says. This figure is likely to grow higher by the day as IDF tanks and ground units press forward. The official Palestinian death toll, issued by the […]

Biden Calls Illegals Crossing The Border “Hispanic Voters” Authored by Steve Watson via Modernity.news, In a telling slip of the tongue earlier this week, Joe Biden referred to the unprecedented rise in illegal immigrants entering the US as an “influx” of “Hispanic voters.” During an interview with a Spanish radio show, Biden was talking about the border crisis, and stated “It’s even a bigger influx now in terms of […]

Melinda Gates Abruptly Quits Bill & Melinda Gates Foundation Melinda Gates revealed on X that she is resigning as co-chair of the Bill & Melinda Gates Foundation, with her final day being June 7. “After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation. My last day of work at the foundation will be June 7th.” She plans to focus on her own […]

Why The Establishment Fears A Trump-Led Fed Via SchiffGold.com, While in office, Trump blamed the Fed for tightening monetary policy. Now members of Trump’s team allegedly plan to give a re-elected Trump more power over the Fed, igniting panic from mainstream economists about a politicized Fed. Our guest commentator explains why the real risk, from the establishment’s perspective, is not that Trump will turn the Fed into a […]

Ukraine Admits Frontlines In Kharkiv Are Collapsing  For the first time since Russia launched its major cross-border offensive into Ukraine’s Kharkiv region (it began last Friday), Ukraine’s government has acknowledged that Moscow forces have made rapid gains. Oleg Sinegubov, the head of the military administration of the Kharkov Region, has said Russia is pushing past the frontline. “Essentially, the frontline is expanding as the […]

Rep. Mills Files Articles Of Impeachment Against Biden For Withholding Israel Aid Authored by Dave DeCamp via AntiWar.com, Rep. Cory Mills (R-FL) formally filed articles of impeachment against President Biden on Friday due to his recent comments about withholding deliveries of heavy bombs to Israel if it launches a major attack on “population centers” in Rafah, Gaza’s southernmost city. Mills compared his move with the 2019 […]

‘It’s Not Over Til I Say It’s Over’ – GameStop’s ‘Roaring Kitty’ Returns, Sends Shares Skyrocketing Update (1155ET): An interesting additional tweet: “It’s not over until I say it’s over…” pic.twitter.com/XAQ8v5dMlH — Roaring Kitty (@TheRoaringKitty) May 13, 2024 *   *   * Update (1000ET): GME is now up 110% on the day, back to its highest since August 2022… Earlier, we cited a note from Goldman Sachs flow of funds […]

Even If Powell “Can’t See The Stag And Can’t See The Flation”, Consumers Can By Benjamin Picton, Senior Macro Strategist at Rabobank Bumps and Potholes UK Q1 GDP surprised to the upside at the end of last week to print at +0.6%, rather than the more modest 0.4% that market economists had been expecting. That means that Britain is officially out of recession. Perhaps even more importantly for Prime Minister Rishi Sunak, GDP per […]

Household Finance Fears Worst Since COVID As Inflation Expectations Surged In April, NY Fed Survey Finds Well if Fed Chair Powell couldn’t see the ‘flation’ before, perhaps he can now… After flatlining around 3.,0% for the last four months the median one-year-ahead inflation expectations increased to 3.3%, according to The New York Fed’s April Survey of Consumer Expectations. They also increased to 2.8 percent from 2.6 […]

Jen Psaki Claims Biden Never Looked At Watch, Suggests Gold Star Parents Lied You know it’s bad when Axios is calling out Jen Psaki for lying about President Biden checking his watch during a ceremony for soldiers killed during the botched 2021 Afghanistan withdrawal. In her new book, “Say More,” the former White House press secretary claims that Biden looked at his watch only after the ceremony had ended, contradicting […]

Lindsey Graham Suggests Nuking Iran And Hamas Authored by Steve Watson via Modernity.news, Warmonger in chief Lindsey Graham suggested Sunday that Israel, with the help of the US, should use nuclear weapons on Iran and Hamas fighters in Palestinian territories. Appearing on NBC News’ “Meet the Press,” the Republican Senator asked “Why did we drop two bombs, nuclear bombs on Hiroshima and Nagasaki?” “To end a war […]

Market Manipulation Trial Over Bill Hwang’s Spectacular $36 Billion Implosion Begins This Week The trial over Bill Hwang’s Archegos Capital Management begins this week. The charges in Hwang’s trial come from the 2021 collapse of the $36 billion dollar Archegos and Reuters has said that testimony could last up to 8 weeks. Prosecutors have said that Archegos’ collapse led to $100 billion in shareholder losses at companies he held. […]

Musk Wins Latest Censorship Battle In Australia As High Court Rules Against eSafety Commissioner Authored by Rebekah Barnett via ‘Dystopian Down Under’ blog, Can Australia’s eSafety Commissioner block content globally on demand? Not today, ruled the Australian Federal Court, in a win for Elon Musk’s social media platform X. US billionaire Elon Musk (left), Australian eSafety Commissioner Julie Inman Grant (right) In a […]

Key Events This Week: All Eyes On CPI As Fed Speakers Galore After a very slow week, the key event for markets this week will be US inflation data with April’s PPI (Tuesday) and CPI (Wednesday) the highlights. We’ll see if the higher-than-expected US inflation seen in Q1 extends into Q2 or not. Markets will also hear from Powell (tomorrow) and Vice Chair Jefferson (today) as the highlights of a busy Fedspeak calendar that are […]

“I See Dead People”: Bragg’s Case Against Trump Goes Paranormal Authored by Jonathan Turley, Below is my column on the completion of the testimony of Stormy Daniels and the start of the testimony of Michael Cohen. With a dubious legal theory, the testimony has only magnified the criticism of the prosecution as parading sensational rather than material evidence before the jury and the public. Manhattan District Attorney Alvin Bragg […]

Apple Reportedly Near Deal To Infuse ChatGPT Into iPhones Apple is nearing a deal with Microsoft-backed OpenAI to infuse its large language model, known as ChatGPT, into the future iPhone operating system, according to Bloomberg, citing sources familiar with the discussions.  The two sides have been finalizing terms for a pact to use ChatGPT features in Apple’s iOS 18, the next iPhone operating system, said the people, who […]

Watch: Pelosi Dismantled In Real Time In Masterclass On Populism Two weeks ago, former House Speaker Nancy Pelosi was thoroughly savaged during a debate at Oxford University over the question of whether populism is a “threat to democracy.” In case you missed it, read on as it’s making the rounds. If you have 14 minutes to spare, jump right in: Opening the case for the left was Rachel Haddad, Secretary of the Oxford Union. She […]

Nvidia Rivals Gold As Shield Against Inflation Authored by Edward Harrison via Bloomberg, The biggest US tech stocks are not only a bet on innovation but also a possible hedge against inflation, according to some respondents in the latest Bloomberg Markets Live Pulse survey. Gold, the haven of choice for decades, is still seen as the best safeguard against the risk of rising prices, according to 46% of survey participants. […]

Futures Gain With All Time Highs In Sight As Key CPI Report Looms US equity futures extended last week’s solid gains when they traded just about 1% below all time highs, as investors awaited key CPI later this week that will shape the Fed’s actions in coming months. As of 7:30am, contracts on the S&P 500 rose about 0.2% (but still below Friday’s highs), after the index posted a third straight week of gains; meanwhile contracts […]

Trump Vows To Undo Biden’s Pro-Transgender Rules On ‘Day One’ Of His Administration Authored by Tom Ozimek via The Epoch Times (emphasis ours), Former President Donald Trump has vowed to reverse the Biden administration’s expansion of Title IX protections for transgender students on “day one” of his administration—if he wins the election in November. Former President Donald Trump, with attorney Todd Blanche (R), speaks to […]

Orange Juice Prices Primed For Breakout After Forecast Warns Brazil Set For Worst Harvest In Decades  Breakfast lovers are in for another jolt as orange juice prices surge to near-record levels. A new report released on Friday indicates that Brazil, the leading global exporter of OJ, is facing its worst harvest in over three decades. This alarming development compounds existing issues in Florida’s citrus groves, which have been […]

Who Are We Protecting, And From What? Authored by Omid Malekan via Medium.com, Gambling is increasingly legal in the US: Casinos, sports betting, the lottery, and so on. The economic benefits of most forms of gambling are limited. There is some job creation and collection of additional taxes, but these benefits come at the expense of players. Put differently: Casinos are highly profitable and the lottery helps fund the […]

‘Unusually Aggressive’ Anti-Trump Grand Jury In Arizona Went Rogue With Indictments The Arizona grand jury that recently indicted 18 people for allegedly trying to help former President Donald Trump overturn the results of the 2020 election with so-called ‘fake electors’ went completely rogue and took ‘aggressive steps to haul in witnesses,’ to the point where they ‘even brought charges against some’ who were told by prosecutors […]

Putin Unveils Dramatic Reshuffling Of Closest Advisors: Shoigu Out As Defense Minister Russian state media is confirming a huge breaking development that President Putin has removed his longtime Defense Minister and personal friend Sergei Shoigu as defense chief, who has overseen the Ukraine war since its beginning in Feb. 2022. He will now serve as head of the nation’s security council. “Sergei Shoigu is likely to lose the post […]