Yesterday, we highlighted the all too eerie coincidence that the very first hedge fund (not mutual fund) to gate investors late on Friday, was operated by none other than the two former heads of distressed/high yield trading of the bank that started it all, Bear Stearns.

Today, things get even eerier, because while we already have the Bear Stearns link, an even more curious coincidence emerged when according to the BofA-Merrill index of "CCC and below" bond yields, the index just hit 17.24%, soaring nearly 2% in just the past two weeks, and rising fast.

In what is possibly the most inane political statement ever, U.S. Senator Charles Schumer and Governor Andrew M. Cuomo today announced a push to prevent known or suspected terrorists from purchasing guns in New York State. Schumer and Cuomo areasking the federal government to officially add the U.S. Terror Watch List to the criteria it uses for federal background checks in New York State, exclaiming "we need to move to close the Terror Gap once and for all."

The Statement...

Submitted by David Stockman via The Daily Reckoning blog,

We are nearing a crucial inflection point in the worldwide bubble finance cycle that has been underway for more than two decades. To wit, the world’s central banks have finally run out of dry powder. They will be unable to stop the credit implosion which must inexorably follow the false boom.

Everything that Reagan and Gorbachev worked for has been overthrown by crazed, demented, evil American neoconservatives whose desire for hegemony over the world is driving the world to extinction. These are the same bloodthirsty war criminals who have destroyed seven countries, murdered, maimed, and displaced millions of Muslim peoples, and sent millions of refugees from the neocon wars into Europe.

Amid all the self-congratulatory mutual masturbation that has effused since the "historic" signing of a climate 'deal' with no enforcement mechanism, few are better qualified (or more outspoken) to describe the utter farce that COP21 is than former NASA scientist James Hansen, who as The Guardian notes, is considered the father of global awareness of climate change...