America

Authored by David Stockman via The Daily Reckoning,

Back in the 1950s when GM had 50% of the auto market they always said that, “As General Motors goes, so goes the nation.”

Benjamin Brafman, attorney for former Turing Pharmaceuticals CEO Martin Shkreli has based Shkreli's defense on the notion that, while his client may have misled investors in hedge funds and pharmaceutical companies that he controlled, most of them made money thanks to Shkreli's business acument and investing prowess.

Precious Metals Are "Best Defence" Against Bail-ins In Economic Crisis

Precious metals are "real assets" and "best defence" against bail-ins and cashless society in the economic crisis which is "on its way"

In his latest note, SocGen's permaskeptic Albert Edwards looks back 20 years in time to the Asian Crisis, and makes an interesting observations: nothing has really changed. In fact, as he explains, the events over the past 2 decades have been a "linear progression of the monetary madness that followed the 1997 Asian", and all thanks to central bankers who used the crisis as a springboard for ever more drastic monetary interventions, resulting in one bubble after another, culminating with the current state of the world, to wit:

After praising Poland’s conservative ruling party during his visit to Warsaw on Thursday, President Trump quickly shifted his focus back to the escalating missile crisis in North Korea, saying that he is contemplating “some pretty severe things” to retaliate against Kim Jong Un after he tested an ICBM on America's independence day, capable of reaching US territory.

“I have some pretty severe things we’re thinking about," Trump said at a news conference in Warsaw. "Doesn’t mean we’re going to do them. I don’t draw red lines."