Sebastian Payne notes that David Cameron’s fear-mongering over “Brexit” is getting worse:

Mr Johnson’s rhetoric was more measured than Mr Cameron’s, who warned in his speech that voting to leave the bloc could lead to war. “Can we be so sure that peace and stability on our continent are assured beyond any shadow of doubt? Is that a risk worth taking? I would never be so rash as to make that assumption,” he said. The government’s “Project Fear” is turning into “Project Terror”.

Real demand for steel in China dropped at least 7% in April from the year before, according to Citigroup’s Tracy Liao estimates, so it should not be a total surprise that the frenzied speculative buying in Iron Ore, Rebar, and various other industrial metals in China has crashed back to reality as volumes plunge, dragging The Baltic Dry Freight Index with it as yet another government-manipulated 'signal' collapses into a miasma of malinvestment and unintended consequences.

John Kasich’s withdrawal from the presidential race should be a cause for concern among American Muslims American Muslims have a choice between presumptive Republican presidential nominee Donald Trump, who plans to kick them out of the U.S. or Democratic presidential hopeful Hillary Clinton, who plans to make the lives of fellow Muslims a misery if they live abroad, according to media establishment.

Late last week, we shared what may be the most concise summary of the ongoing political theater involving the impeachment process of Dilma Rousseff, who as is well known has already been impeached, but where virtually every other actor is just as guilty of corruption and/or kickbacks. To wit:

A Brazilian Supreme Court justice ruled on Thursday that the powerful lawmaker who orchestrated the effort to impeach President Dilma Rousseff must step down as he faces graft charges, ratcheting up tensions in the country.

 

For the fourth month in a row, Labor Market Conditions - according to The Fed - have contracted, the longest streak since the financial crisis. At the same time, despite having fallen from recent highs, the government's Labor Department proclaims non-farm payrolls continue to improve... because the narrative of consecutive monthly job gains must stand.  

The Government, of course, wants the appearance of economic recovery, job gains, and confidence inspiration - especially into the election.