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Authored by Mac Slavo via SHTFplan.com,

Anyone putting money in the stock market at this point should have their head examined. The fact that the stock market had reached a record high for the ninth day in a row should be enough for any rational person to see that we’re in a bubble of massive proportions. But there’s also the fact that all of the big players in the investment community are backing out of stocks like there’s no tomorrow.

Stock markets around the world remain highly correlated. With this in mind, the German stock market finds itself potentially kissing dual resistance, that could impact stocks in the states.

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Last night's mixed bag from API has been dominated by 'war premium' in oil prices as WTI bounced off $49 ahead of the DOE report which confirmed that gasoline inventories surprisingly built (+3.42mm vs -1.5mm exp) - the biggest build since January - and Crude inventories drew (though less than API). Crude production in the Lower 48 rose to 9.048mm b/d - a new cycle high.

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Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

Lockheed Martin CEO Marillyn Hewson should think about sending Kim Jong Un a gift basket.