First it was Australia (closest to China), then Miami, then London, and now New York appears to have been hit by the sudden withdrawal of a bid-at-any-price, stash-my-cash, launder-my-money foreign flood of money to buy real estate. Manhattan apartment vacancies reached their highest level in more than nine years, according top broker Miller-Samuel, a sign that the post-recession run-up in rents may begin to cool. "We're reaching the point where things can't go up as much," Miller said in an interview.

You know you've 'made it' when the prince of one of the world's biggest human rights abuser (and leading 'beheader') nations calls you a "disgrace to America."

From "respected investor" - just ask him about Citi and Twitter - Prince Alwaleed bin Talal...

Prince Alwaleed slams @realDonaldTrump, calls him a "disgrace" & says he should withdraw from the presidential race. https://t.co/Zk6G1uNwzE

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Proponents claim Basic Income can be paid by redirecting existing welfare programs, but a quick review reveals this as nonsense.

Finland made the news recently by proposing a pilot program of guaranteed income for all, also known as Universal Basic Income: Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens.

Now that everyone is finally looking at junk bonds with hopes to buy, sell or short as one's inclination may be, everyone is realizing something we have been warning about since 2012: when times of stress emerge, either the Bid/Ask spread is gargantuan (good luck with those "subject" quotes from dealers who have no inventory), or there is simply no market as the first hint of a buyer or seller make bond traders the carbon-based equivalent of an HFT algo, and pull their quotes. In short: there is no liquidity.