Business

It seems - just as we have seen since The Fed's December rate-hike decision - that The Bank of Japan's "shock" decision not to pour more punch into the global equity bull's bowl overnight has sparked another leg higher in the market's indicator of monetary policy incompetence. Gold and Silver are surging back near cycle highs...

Precious metals are leading the way post-BoJ...

With Silver topping $17.50 once again...

And gold is back within $30 of Goldman's "Short Gold" Recco 'stop-out' level.

Rupert Murdoch’s popular trash tabloid The Sun could face civil lawsuits. A High Court judge in London has ruled that victims who claim that their phones were hacked by News Corp journalists working at the Sun tabloid can now pursue those claims for the very first time.

Comfortably green, the VIX-smashing algos have lifted US equities non-stop since the NYSE machines were unleashed. While the Dow is lagging a little, Nasdaq and S&P futures have now made it all the way back up to Kuroda's Kamikaze moment...

What happens next?

The Census Bureau released its quarterly update on residential vacancies and homeownership for Q1 which is closely watched for its update of how many Americans own versus rent. It shows that following a modest pickup in the homeownership rate in the prior two quarters, US homeowners once again posted a substantial decline, sliding from 63.8% to 63.5%, and just 0.1% higher than the 50 year low reported in Q2 2015.

The Sad Truth About the State of the Financial System Today

For seven years, the world has operated under a complete delusion that Central Banks somehow fixed the 2008 Crisis.

All of the arguments claiming this defied common sense. A 5th grader would tell you that you cannot solve a debt problem by issuing more debt. If the below chart was a problem BEFORE 2008… there is no way that things are better now. After all, we’ve just added another $20 trillion in debt to the US system.