Business

From the very beginning, there was something off about Sunday's unprecedented countercoup purge unleashed by Mohammad bin Salman on alleged political enemies, including some of Saudi Arabia's richest and most powerful royals and government officials: it was just too brazen to be a simple "power consolidation" move; in fact most commentators were shocked by the sheer audacity, with one question outstanding: why take such a huge gamble?

The world is careening towards an inflationary shock.

As was the case with the beginning of the Housing Crash, few are noticing what's happening. And even fewer realize the true scale of what's about to take place.

Below is a chart you have to see.

This chart shows the Producer Prices Index for the four largest economies int he world: the US, the EU, China, and Japan.

Note, that Producer Prices are SPIKING in all four economies.

H/T Jeroen Blokland

AT&T stock is rallying and Time Warner is falling following remarks by AT&T's CFO John Stephens regarding "uncertainty" about the timing of the deal between the two companies, citing ongoing DoJ discussions.AT&T stock is rallying and Time Warner is falling following remarks by AT&T's CFO John Stephens regarding "uncertainty" about the timing of the deal between the two companies, citing ongoing DoJ discussions.

Nomi Prins Fills Us In On Another Of The President’s Bankers

“Treasury Secretary Steven Mnuchin is a man who has a real sense of the opportunity that’s embedded in this moment — for the large banks and their CEOs to make a bundle of money — but no appropriate sense of the risks involved or fear for a future in which he and his president might find themselves bailing out such banks, 2008-style.”  — Nomi Prins

http://www.informationclearinghouse.info/48146.htm

Just as an avalanche of SNAP sellside downgrades was unleashed by Wall Street analysts (JPM and UBS both downgraded to Sell with $15 and $7 price targets, respectively), the proverbial Hail Mary emerged early on Wednesday morning, when hours after reporting atrocious earnings which sent its stock crashing, in its just released 10-Q, Snapchat reported that Tencent, the company behind China's popular messaging platform WeChat, had built a more than 10% stake in Snap, the parent company of Snapchat, through open market purchases.