Seemingly unfazed by the recent European Commission proposal to punish countries which refuse to comply with "fair" refugee allocation quotas with fines as high as €250,000 per asylum seeker, the head of Poland’s ruling Law and Justice party and former PM Jaroslaw Kaczynski said that no refugees will be accepted in Poland "as they pose a threat to security" adding that Poland will oppose any law forcing EU members to pay €250,000 per refused refugee.

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Imagine being told by some politico that if you're truly a fan of the Golden State Warriors, you must vote for him to "prove your loyalty" as a Warriors fan.

Chanos 1 - 0 Musk...

The London property bubble shows renewed signs that it is beginning to burst. Property sellers in the UK have reduced their asking prices and London property prices have fallen by 7.8 per cent on average and as much as 30% in some areas according to City AM today.

City AM – Data via Zoopla

In recent months unexpected calls have emerged from unexpected sources questioning whether capitalism is even working any more in a world in which corporate profits refuse to drop leading to paltry wage gains and thus, lack of the all-important wage inflation. Most recently it was none other than Goldman who wrote in February that "we are always wary of guiding for mean reversion. But, if we are wrong and high margins manage to endure for the next few years (particularly when global demand growth is below trend), there are broader questions to be asked about the efficacy of capitalism."