Authored by Steve Watson, originally posted at PrisonPlanet.com,

The White House cannot name one single shooting incident that would have been prevented by gun control legislation.

As President Obama prepares executive action to pass further gun control legislation, one errant reporter asked the White House press secretary exactly how such proposals would have prevented any recent mass shootings.

Josh Earnest couldn’t directly answer the question and floundered around repeating the same talking points over and over again.

When we first detailed the link between a devaluing currency, increasing restrictions on outflows of China capital, and Bitcoin, the virtual currency soared (driven by Chinese flows, just as predicted). The last few days, as China has once again started devaluing its currency, authorities once again moved to tighten capital outflows - this time through caps on credit-card withdrawals (as warned here) - and sure enough, Bitcoin has been soaring recently.

Submitted by David Stockman via Contra Corner blog,

The graph below belongs in the “what were they thinking category”.

After Tuesday’s dividend massacre, it’s plain as day that Kinder Morgan (KMI) wasn’t the greatest thing since slice bread after all. That is, a “growth” business paying rich dividends out of rock solid profit margins and flourishing cash flow.

In fact, it was just a momo stock on a borrowing spree.

One week ago, we explained what happened to both the US economy and the stock market the last time the Fed tightened financial conditions back in 1936 when it, like now, erroneously thought the economy was strong enough to sustain it:

"The Fed exit strategy completely failed as the money supply immediately contracted; Fed tightening in H1’37 was followed in H2’37 by a severe recession and a 49% collapse in the Dow Jones."

This is what it looked like courtesy of BofA strategist Michael Hartnett: