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‘Russia-Reversal’ Report Routs Oil & Gold, Bonds Signal Recession Inevitable More FedSpeak to normalize an extremely hawkish expectation for the next 9 months today. Former NY Fed boss Bill Dudley said, in a Bloomberg op-ed, that The Fed’s actions will lead to an “inevitable recession.” Philly Fed’s Pat Harker is “open” to 50bps hikes at…

Watch: Pennsylvania Snow Squall Causes Horrifying 50-Car-Pileup Shocking footage is circulating on social media of a massive car crash Monday morning on Interstate 81 in Schuylkill County, Pennsylvania, after a crazy snow squall brought visibility for drivers down to near zero.  Local news CBS 21 News reports 50-60 cars and tractor-trailers crashed into each other on the…

Calm Before The Storm? Authored by Charles Hugh Smith via OfTwoMinds blog, Stocks don’t vanish when sold; somebody owns the shares all the way to the bottom. These owners who refuse to sell because they have convinced themselves the next dip will be the hoped-for resumption of the bullish trend are called “bagholders.” Trends are…

Oil, Gold, Yen, & Yield-Curve Slapped Lower; Ruble & Crypto ‘Rock’et Higher While oil plunged and crypto soared, perhaps the biggest news of the day was that the Ruble continued to charge higher, almost erasing all of the post-invasion losses… Source: Bloomberg And gold in rubles has fallen back towards CBR’s buying level announced last…

Volcker Caused A Recession To Bring Down Soaring Inflation; Powell Hopes To Achieve The Same Without A Recession By Seth Carpetner, Global Chief Economist at Morgan Stanley Plus Ça Change A strong economy, high inflation, and then an oil price shock…even if history does not repeat itself, it may rhyme. While we do not think…

Zelensky Steps Up Call For More Western Weaponry, But Admits US Troops There Means WW3 In Sunday comments Ukrainian President Volodymyr Zelensky stepped up his calls for the West to provide his forces with more planes, tanks and other weaponry, which comes the day after Biden’s fiery speech from Warsaw condemning Putin and which suggested…

Elon Musk Teases Launching New ‘Free Speech’ Social Media Platform Authored by Matt Margolis via PJMedia.com, Billionaire entrepreneur Elon Musk is the CEO of Tesla and SpaceX, and it seems like he hinted that a social media platform may be his next business venture after crucifying Twitter for not protecting free speech. “Free speech is…

Buchanan: Is Victory For Ukraine Worth Risking Nuclear War? Authored by Pat Buchanan, During the 70 years that the Soviet Union existed, Ukraine was an integral part of the nation. Yet this geographic and political reality posed no threat to the United States. A Russia and a Ukraine, both inside the USSR, was an accepted…

Daily Mail Drops Hunter Biden Emails Linking Him To Ukraine Biolab Funding Emails from Hunter Biden’s notorious laptop reveal that the first son helped secure millions of dollars for a DoD contractor – Metabiota – which specializes in researching pandemic-causing diseases that could be used as bioweapons, according to the Daily Mail, which obtained Hunter’s…

Court Rules Democrats Engaged In “Extreme Partisan Gerrymander” In Maryland Authored by Jonathan Turley, I recently wrote a column on the hypocrisy of Democratic activists and members denouncing attacks on democracy as they engage in raw gerrymandering in states like New York. Marc Elias, the former Clinton Campaign general counsel accused of hiding the funding of the Steele…

US And Allies Have Declared Hybrid “Total War” On Russia: Kremlin By Jack Phillips of The Epoch Times, The United States and its Western allies have declared a hybrid “total war” against Russia following its invasion of Ukraine, said Russian Foreign Minister Sergei Lavrov on Friday. “Today a real hybrid war, a ‘total war’ has…

Stocks, Gold, & Oil Surge On Week As Yield Curve Carnage Screams ‘Recession’ The ongoing hawkish push higher in market expectations for 2022’s rate-hike trajectory with 9 more rate-hikes now expected by the end of December. But as the chart below shows, as the hawkishness rises, so does the chance of a recession, and the…

One River: It’s “Increasingly Clear That The Future Of Finance Runs On Ethereum” Submitted by One River Digital Research’s Marcel Kasumovich and Paul Ebner, Ethereum achieved a milestone with last week’s Merge. It is “only” public testing, but transactions are being validated for the first time. It is working. Scaling solutions to increase throughput and…

Niall Ferguson On Misunderstanding History: “Biden Is Making A Colossal Mistake” Authored by Niall Ferguson, op-ed via Bloomberg.com, Biden is making a colossal mistake in thinking he can bleed Russia dry, topple Putin and signal to China to keep its hands off Taiwan… “The language people speak in the corridors of power,” former Secretary of…

Bitcoin, Bullion, Big-Tech, & Bond Yields Rise As Crude Crumbles Some early hope-filled reports of “careful optimism” about a ceasefire – which were entirely ignored by anyone in Brussels, from NATO or the G-7, ignited momentum right in time and lifted stocks today, Led by growthy-stuff (Nasdaq), it appears the ‘QE trade’ is back on…

Investment Bank Cowen To Offer Spot Bitcoin Trading Submitted by Bitcoin Magazine Wall Street investment bank Cowen Inc. has debuted a new digital asset unit to offer spot bitcoin and cryptocurrency trading to institutional investors, Bloomberg reported Wednesday. The firm leveraged its small footprint to front-run its bigger competitors as the finance hub seeks to…

Watch: Gingrich Says Kamala Harris “May Be The Dumbest Person Ever Elected Vice President” Authored by Steve Watson via Summit News, Appearing on Fox News Monday, former Speaker of the House Newt Gingrich declared that Kamala Harris “may be the dumbest person ever elected Vice President” following another bizarre speech from Harris earlier in the…

Bonds, Bullion, Black Gold, & ‘Babki’ Jump As Stocks Dump Perhaps the most notable move in markets today was from the Ruble (the term old woman, babki – бабки, overshadowed other slang names for the Russian currency), which saw its biggest daily gain since Dec 2014 today on the back of Putin’s call for all…

Madeleine Albright, First Female Secretary Of State Under Clinton, Has Died Madeleine Albright, who was the first female Secretary of State under Bill Clinton, has died of cancer Wednesday at the age of 84, her family announced. “She was surrounded by family and friends,” her family said on Twitter. “We have lost a loving mother, grandmother,…

WTI Extends Losses After Cushing Crude Stocks Rose For 2nd Straight Week Oil prices ended lower after a choppy session (with WTI back below $110) as EU foreign policy chief Josep Borrell said he expects leaders to discuss – but probably not yet approve – further sanctions against Russia when they meet in Brussels later this week.…

Autocracy’s Fatal Weakness Authored by Charles Hugh Smith via OfTwoMinds blog, This desire for compliance and consensus dooms the autocracy to failure and collapse because dissent is the essence of evolutionary churn and adaptation.. The various flavors of autocracy (theocracy, kleptocracy, dictatorship, etc.) look remarkably successful at first blush but they all share a fatal…

Stocks Extend Historic Short-Squeeze Melt-Up As Recession & Rate-Cut Odds Rise Another quiet macro day (and everyone shrugging off The Fed’s Bullard & Daly’s hawkish comments) gave the algos the opportunity to run some more stops, pushing the S&P, Dow, and Nasdaq above key technical levels. S&P broke back above its 200DMA today and the…