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‘We Must Not Squander Our Majority’: Pelosi Assembles House Dems As Infighting Threatens To Derail Trillions In Spending Speaker Nancy Pelosi (D-CA) has called House Democrats to meet as infighting between progressives and moderates threaten to derail their $4.1 trillion economic agenda. At issue is Pelosi’s insistence that the $550 billion infrastructure bill be paired…

Crypto, Gold, Oil, & Stocks Soar On Dismal Data As Dollar Dumps EU consumer sentiment tumbled this morning (mirroring US’ sentiment collapse) and US PMIs both plunged to multi-month lows… that’s great news right? US economic surprise data plunged to -45.5 – as bad as it was in March 2020 – and global economic surprise…

Landlords Ask 5th Circuit Court To Stay CDC Eviction Moratorium Authored by Matthew Vadum via The Epoch Times (emphasis ours), Landlords in Louisiana are asking a federal appeals court to block the Centers for Disease Control and Prevention’s legally dubious nationwide eviction moratorium while that court considers an appeal from the landlords. Centers for Disease…

Russian Military Hails Syria’s Successful Intercepts Of 22 Of 24 Missiles In Latest Israeli Attack Via AlMasdarNews.com, Following Thursday’s night’s largescale airstrikes by Israeli fighter jets on areas in and around Damascus and in Homs province, Russia’s military leadership in Syria told international news agencies that six total Israeli jets conducted the aggression using Lebanon’s airspace. Rear…

Watch Live: President Tries Again To Defend His Farcical Exit Strategy From Afghanistan After Friday’s farcical fib-fest, President Biden is going to take another run at updating the nation on the status of the disastrous exodus from Afghanistan. According to The White House, the president will also address the state of the nations’ COVID response…

Key Cryptocurrency Developments And Updates In The Last Week As noted previously, now that Jamie Dimon has relented and will not fire any JPM employee caught trading bitcoin but instead is encouraging them to cover (and trade) the digital currency sector in response to growing client demand for more exposure, the bank recently launched a…

NYC Restaurateurs: It’s Not Our Job To Enforce Vaccine Mandates By Enrico Trigoso of The Epoch Times, On Aug. 17, New York City started requiring restaurants and gyms to check guests and workers for proof of COVID-19 vaccination, as well as photo ID. T.J. Provenzano, manager of Rosella restaurant in Manhattan on Aug. 19, 2021.…

Dramatic Satellite Imagery Shows Intense Wildfires Ravaging Western US Dramatic satellite imagery shows the intense wildfires raging across the Western US, generating large smoke columns that have blanketed several states.  Cooperative Institute for Research in the Atmosphere’s Dakota Smith released what he says is “awful satellite imagery out of the West” last week that shows…

Bin Laden Warns “Biden Will Lead US Into Crisis” In Letter From 2010 During what has been inarguably the most embarrassing stretch of the Biden presidency (and it’s not over yet,  as sources at the airport in Kabul say the situation has continued to deteriorate on Saturday), a letter taken from the massive cache of…

Why The Wheels Are Coming Off Authored by Charles Hugh Smith via OfTwoMinds blog, Is that the scent of smoke? What’s that red glare? Must be nothing. Why are the wheels coming off the American Project? Afghanistan is front and center in the news flow for obvious reasons, but since I have no expertise on that…

Op-Ex Panic-Bid Rescues Global Stocks From Worst Week In 6 Months As Fed Taper Looms Not a good week in the real world – Bad retail sales data, slumping consumer and business confidence, COVID cases surging (but not deaths), Delta fearmongering max’d out, oh, and US lost a war… Global economic data is disappointing at…

Goldman Puzzled As Options Price In Market Shock Similar To 1987 Crash, GFC And Covid Crisis There is something bizarre about this relentless rally, where even a 2% dip is immediately bought. While it may seem like distant history now that the S&P is back near all time highs, the equity sell-off earlier this week…

Taibbi: We Failed Afghanistan, Not The Other Way Around Authored by Matt Taibbi via TK News, On MSNBC the other night, Rachel Maddow told a story about visiting Afghanistan a decade ago. She described being taken on a tour of a new neighborhood in Kabul of “narco-palaces,” what she called, “big garish, gigantic, rococo, strange-looking…

Traders Buy Bonds, Bitcoin, & The Buck As Gamma Sparks Stock Chaos A quiet macro day (positive claims data, weak Philly Fed, and positive LEI) allowed the algos to get back to work after yesterday’s Powell pummeling in stocks. Nasdaq was levitated all the way back to unchanged from pre-FOMC-Minutes, but that was all the…

Relief For Shippers As Ningbo Port Nears Reopening By Eric Kulisch of Freight Waves, Chinese authorities are expected to begin a phased reopening of a container terminal at the massive Port of Ningbo by the end of the week if no further COVID infections are detected. And the overall effects on ocean shipping so far…

Arizona Governor Blocks Funding For Schools Mandating Masks Authored by Jack Phillips via The Epoch Times, Arizona Gov. Doug Ducey, a Republican, announced he will not provide funds to school districts that attempt to impose mask requirements for students in the state. The governor said that district and charter schools in Arizona that follow state laws…

Gen. Milley Claims Nobody Expected Taliban To Take Afghanistan In Just 11 Days As President Biden continues to insist that he regrets nothing and that there was no way for his administration to predict how swiftly Afghan military forces would collapse, allowing the Taliban to regain control of the entirety of Afghanistan, after the US…

30x Levered Hedge Fund That Got Steamrolled On Treasury Basis Trade Launching Its Own Repo Dealer By now most are aware that when the Fed first launched “NOT QE” in September 2019 to inject liquidity into the market, what it was really doing was bailing out dozens of hedge funds engaging in highly levered trades…

Robinhood Tumbles As Growth Slows; Crypto Revenues Surpass Stocks And Options Combined; Warns Q3 Will Be Ugly We already knew that Robinhood’s Payment for Orderflow – the company’s bread and butter and the bulk of its revenues courtesy of its main client Citadel – would be hit big in Q2 sequentially, because having spread the…

Former Spook Warns This Is “One Of The Most Dangerous, Unpredictable Times In History” Brian Dean Wright, a former CIA Ops Officer, explains in a brief but incisive Twitter thread that “former US intelligence colleagues are angry and deeply worried at what has happened in Afghanistan.” Wright warns that “there’s nearly universal belief that America…

Fed’s Taper Talk Tanks The Dollar, Oil, & Bond Yields; Stocks Puke The Fed appeared to hint at tapering its massive bond-buying bonanza and markets went a little bit turbo. Gold and bonds rallied notably while the dollar dropped and stocks had no bloody idea what to do, so they collapsed… US equity markets shifted…

Oil Extends Longest Losing Streak Since March After Disappointingly Small Crude Draw Oil prices fell for the fourth day in a row – its longest losing streak since March – as a strong dollar and dismal US economic data following weak China data (combined with the ongoing spread of Delta around the world) prompted growth…