Europe

NATO have formally outlined their plans for going to war with Russia, saying that if Russia counter their attempts to surround the country with troops, they will respond with an all-out war.  Rinf.com reports: On May 18th, Britain’s Guardian headlined “West and Russia on course for war, says ex-Nato deputy commander” and reported that the former deputy commander of NATO, the former British general Sir Alexander Richard Shirreff (who was Supreme Allied Commander in Europe from 2011-2014), expressed outrage that Britain isn’t urgently preparing for war against Russia, and also reported that “

From uber-doves to ultra-hawks in 3 weeks (and a few hundred Dow points), today's FedSpeak did not rescue stocks as everyone assumed it did as Dudley's Dud dropped risk...

"Sell In May" is working once again...

Now that China's brief infatuation with "rationalizing" excess capacity in its massively glutted (and insolvent) steel sector is over after lasting all of 2-3 months, China is back to doing what it did in late 2015 (and what it has always done) when as we reported, a surge in Chinese exports led to the first salvos in the trade war between China - the world's biggest exporter of various steel products and is responsible for half the entire world's steel output - and countries who are importing dumped Chinese products at the expense of their own steel and mining industries.

Can Russia Survive Washington’s Attack?

Paul Craig Roberts

Authored by SaxoBank's Michael McKenna via Tradingfloor.com,