Authored by Ted Bauman via BanyanHill.com,
How do I despise thee, O Congress? Let me count the ways.
Don’t take my word for it: 75% of Americans disapprove of the job our representatives are doing. It’s things like this that explain why:
Whilst only about 13% of U.S. employees nationwide enjoy a retirement fund that assures stable, lifelong income, all 535 members of Congress do … courtesy of Uncle Sam.
Earlier this month we were somewhat surprised when the SEC blatantly ignored numerous complaints and approved a request to trade new quadruple-leveraged exchange-traded funds, the so-called ForceShares Daily 4X US Market Futures Long and Short Funds, the first such products of their kind.
Authored by David Stockman via The Daily Reckoning blog,
The Deep State is escalating its war on President Trump but the Wall Street partiers apparently couldn’t care less until today's relatively modest drop. When the machines tagged 2402 on the S&P 500 yesterday, it was surely a historic case of “look ma, no hands!”
It’s hard to imagine what more will be needed to ignite an eruption of fear and panic in the casino amidst Wall Street’s record and wholly irrational state of somnolence.
It was just over two months ago - well before VIX hit its record stretch of nearly 20 days below 11 - when we first discussed why one of the major threats to the complacent market was the danger of a forced liquidation by trend-following and vol-neutral, CTA, risk-arb and other systematic funds - many of whom have been the fundamental catalyst for the unprecedented VIX compression seen in May - resulting in an explosive unwind of vol positions.
Here is an anecdotal discussion that is likely taking place inside of every asset management firm of repute now, in light of recent Trump controversy. There's nothing worse than the unknown -- the dark, cavernous, winding hallways that lead to catacombs festooned with traps.
Larry Kudlow and Mark Zandi joined a desk filled with CNBC anchors to discuss the recent events, which have Kudlow scratching his hairless head.
"Why didn't Comey instruct the Attorney General that he heard an obstruction of justice?", pondered Kudlow.