Submitted by Howard Kunstler via Kunstler.com,
“There is no other endeavor in which men and women of enormous intellectual power have shown total disregard for higher-order reasoning than monetary policy.
-David Collum
American Notes
With many of the key cabinet positions in Trump's administration having been filled, one major post remained open: that of Energy Secretary. However according to Bloomberg, the mystery is almost over as Donald Trump has narrowed his search for energy secretary to four people.
Submitted by Adam Taggart via PeakProsperity.com,
Take a moment to reflect on all the people you care about who aren't reading this article. Or sites like this, which wrestle with the implications of limits to growth and the concerning unsustainability of the economic and natural systems our society depends upon.
While markets remain relatively subdued ahead of tomorrow's nonfarm payrolls report, after several days of losses in US stocks, which have taken "sell in May" to heart and pushed the S&P500 to three week lows, overnight markets ignored the latest weak data out of China where the Caixin Services PMI was the latest indicator to disappoint (dropping from 52.2 to 51.8), and instead focused on crude, which rebounded from yesterday's post inventory-build lows and briefly printed above $45/bbl over uncertainty related to the impact of Canada wildfires on production and how long will last.
Authored by David Hay, via EvergreenGavekal.com,
"Low interest rates cause secular stagnation: they do not cure it.” -CHARLES GAVE
“Negative interest rates are the dumbest idea ever.” -JEFF GUNDLACH, the new “King of Bonds”
“Laugh but listen.” -WINSTON CHURCHILL, addressing the British House of Commons, warning it once again of the rising threat posed by Nazi Germany, to derisive laughter.