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Tesla Jumps After Board Proposes For 3-For-1 Stock Split, Larry Ellison To Step-Down As was largely expected, Tesla’s latest filing – of proposals set for inclusion in its annual shareholder meeting on August 2nd – shows the company is proposing a 3-for-1 stock split. The primary purpose of the Authorized Shares Amendment is to facilitate…

It’s “Worse Than Many Can Imagine” – Kim Dotcom Fears “Controlled Demolition” Enabling A “New Dystopian Future” Authored by Alexandra Bruce via ForbiddenKnowledgeTV.net, New Zealand tech CEO, Kim Dotcom did the math on the United States’ sovereign debt and he tweeted a thread about it, saying it may the most important thread that he may ever make.…

Soaring CPI Crushes ‘Peak Inflation’ Narrative, Sparks Global Market Turmoil There have only been 2 months in the last two years where CPI has printed less than expected and CPI has risen for 14 straight months (Biden has been president for the last 16). Additionally, sentiment among Americans collapsed to a record low (UMICH) and…

Stocks Slump, Dollar Jumps Ahead Of CPI ‘Event Risk’ Weakness in stocks today – after an ugly claims print, ECB hawkishness-ish, and anxiety ahead of tomorrow’s ‘event risk maximizing’ CPI print. Nasdaq was down over 2.5% and the S&P close behind, down over 2%. Stocks closed on their lows… …took the US majors into the…

Watch: Protester Threatens Biden’s Motorcade, Immediately Regrets It… “An abortion ban will not stop abortions – only safe ones,” a Biden protester shouted after approaching and almost blocking the motorcade of the pro-choice president in Los Angeles, as he was en route to the Summit of the Americas. Video captured the “women’s rights” protester positioning…

Navarro: An Illegitimate Court Gets Ready To Convene Op-Ed authored by Peter Navarro via RealClear Politics, As the Select Committee to Investigate the January 6 Attack prepares to stage a show trial of Donald Trump on Capitol Hill this week, I have filed a lawsuit challenging the Select Committee’s gross violations of the Constitution’s separation…

Henry Hub Hammered As Texas Tea Rips; Gold Pops, Bitcoin & Bonds Drop With barely any macro again, today was another day of illiquidity and extremes across asset classes – NatGas was dumped, Oil pumped; Crypto dropped as the dollar popped; Bond yields jumped as stocks slumped. US Stocks drifted lower overnight, after yesterday’s magical…

Suspect Arrested Near Kavanaugh House Charged With Attempted Murder Update (1549ET): 26-year-old Nicholas John Roske of California has been charged with attempted murder for threatening to kill Justice Brett Kavanaugh, over the Supreme Court’s leaked opinion which would overturn the right to kill unborn babies. According to a criminal complaint filed Wednesday in Maryland, Roske…

“The Summer Of Starvation”: Soaring Fertilizer Prices Unleash Chaos, Hunger Worldwide One of the most pernicious consequences – if primarily for the anti-Russia west – resulting from the Ukraine war, has been the unprecedented spike in fertilizer prices which among other things, has sparked a historic surge in food prices and collapse in supply chains…

WTI Dips After Unexpected Crude Build, Gasoline Stocks Up Most Since Jan Oil prices rebounded from midday weakness to close at 2-month highs with WTI at $120 after Goldman hiked its crude price forecasts and rebounding demand hopes from China “The true fundamentals in crude, gasoline and diesel remain bullish, although prices have risen a…

Uranium Stocks Soar On Report US Seeking Billions To End Reliance On Russian Enriched Uranium Back in February, when Biden instituted a wholesale ban on Russian energy exports, he explicitly carved out Russian uranium suppliers for the simple reason that the US is very much reliant on Russia for its nuclear power plant needs –…

Stocks & Bonds Spike As Growth/Stagflation Scares Soar Target was trounced on its inventory “glut” debacle as the bullwhip effect is in full effect… but dip-buyers stepped in (or share-buyback-ers) and put some lipstick on that pig (a pig that is the canary in the coalmine – to mix metaphors – for the rest of…

Elections Won’t Fix This Authored by Jeffrey Tucker via The Brownstone Institute, Americans have limitless faith in democracy. In the early 19th century, that charmed Alexis de Tocqueville. His book Democracy in America still rings true today because not much has changed. The entire country can be in ruins and even then, most people figure that it…

UK PM Boris Johnson Survives ‘No Confidence’ Vote Update (1600ET): UK prime Minister Boris Johnson has survived a vote of no confidence with a of ‘secret’ vote of 211 (confident) to 148 (not confident) leaving him remaining in office but significantly weakened. Sir Graham Brady says: “I can announce that the parliamentary party does have…

Bitcoin & Bond Yields Soar As Stocks Puke Post-Payrolls-Gains For once US Macro data did not disappoint today… because there were none. Rate-hike expectations continue to rise (hawkishly) to its highest level since the May FOMC meeting and press conference… Source: Bloomberg Stock surged overnight (driven by enthusiasm about easing COVID restrictions in China, plus…

Hedge Fund CIO: Biden Is Already As Unpopular As Trump And The Fed Is Only Just Staring QT By Eric Peters, CIO of One River Asset Management “Today the enemy counts on popular demonstrations to strike the Islamic system,” declared Iran’s Supreme Leader, 83-years-old, in power since 1989, the year of the Tiananmen Square student…

The Great Robo-placement? Workplace Robot Orders Jump 40% In First Quarter As we come out of the Covid-19 pandemic – which was more like a controlled demolition of small businesses, followed by a mismanaged, taxpayer-funded cocaine binge that dropped vicious inflation on our laps – more and more industries are turning to robots as they…

Diesel Once Again Racing Higher Than Prices For Crude Oil, Gasoline By John Kingston of FreightWaves Diesel prices have wrapped up four days of trading in which they are finishing far higher than they were at the start of the business week and have moved up faster than crude and gasoline prices. It’s a worrisome…

“Pay-To-Play” Looms For The Rest Of Us Authored by Charles Hugh Smith via OfTwoMinds blog, The more kafkaesque quagmires you’ve slogged through, the more you hope “pay-to-play for the rest of us” beomes ubiquitous. You know how “pay-to-play” works: contribute a couple of million dollars to key political players, and then get your tax break, subsidy, no-bid contract,…

Russia Threatens To ‘Strike The West’ If US-Supplied Rockets Hit Its Territory Following on the heels of the Biden administration announcing it would send longer range rocket systems to Ukraine, the Kremlin has issued a veiled threat that if it’s territory is hit it could strike back directly at the West. “One of President Putin’s…

Expect A Deep Recession To Start This Quarter Or Early Third Quarter Authored by Mike Shedlock via MishTalk.com, GDP estimates are plunging but are still too high. A recession is on the near horizon. GDPNow Data from the Atlanta Fed, Chart by Mish The GDPNow Forecast was at 2.5 percent on the May 17 retail sales report. It’s…

The Handbook For Debt-Soaked Nations: Lie, Print, Inflate, & Finger-Point Authored by Matthew Piepenburg via GoldSwitzerland.com, Below we consider the classic (and oh-so predictable) tactics of debt-soaked nations facing a showdown (corner) between tanking markets and ripping inflation. Ultimately, I see a stagflationary end-game in which both occur, but for the near-term, prepare for more inflation, as…