Disaster

In the new normal, where bad news is good news, stagnation is growth, and depression is a buying opportunity, it should be no surprise that the so-called "safety stocks" of the Consumer Staples sector have never been more risky. At a P/E valuation of 22x, food, beverage, and tobacco companies have never been more expensive.

But, "safety stocks" are not the most expensive stocks in the US equity market...

This is what a speculative frenzy looks like!

more than doubled in the last month!!

A British Airways plane travelling from Prague to London’s Heathrow airport was struck by lightening and the moment was captured on film by a photographer. Joe reports: Footage recorded on the ground by photographer Aled Rhys Jones captured the moment the plane was struck by lightning just after 8pm. Aled Rhys Jones YouTube video: A number of passengers flying into London reported lightning strikes on Twitter on Wednesday evening, but there were no reports of any damage to any planes affected.

Russia conducted the first ever rocket launch from its brand new Vostochny cosmodrome. On Thursday, a Soyuz 2.1a rocket blasted off from the civilian cosmodrome in Russia’s far east, on the 51st parallel north in the Amur Oblast. Three scientific research satellites were successfully boosted into orbit by a Soyuz 2.1a rocket after a first attempt was aborted a day earlier by an automated safety control system at the last minute.

At the end of January, when looking at the positioning in the oil futures market, we warned that there is a a "Constant Short Squeeze Threat" because "Oil Shorts Are At All-Time Highs."

Everyone knows what happened next; for those who missed it we explained precisely two months later, following an epic surge in the price of oil, in: "It's Official: The Oil Surge Was Driven By The Biggest Short-Squeeze Ever."

A woman who was involved in a lawsuit over the lead-contaminated water crisis in Flint, Michigan was found shot to death in her home along with another woman. Police found the bodies of two women inside a townhouse on Tuesday, where they also found a one-year-old child unharmed. Both women were shot, and have been identified as Sasha Bell and Sacorya Reed. The child was taken into protective services. Sasha Bell was one of the first of a growing number of people to file a lawsuit in connection to the Flint water crisis after claiming that her child had been lead poisoned.