Europe

Having discussed the market's disturbing reaction to Mario Draghi's desperate "all in" monetary gamble - one which saw an early bout of euphoria followed by one of the most aggressive Euro spikes in history, second only to the "December debacle" and the Fed's March 2009 announcement of QE1, we were waiting for the just as important reaction by the ECB's nemesis: the one country that not only has seen hyperinflation first hand (and appears to recall it vividly), but is just as aware where the ECB's monetary lunacy ends: the Germans.

"You get nothing..."

Britain could lose out on European scientific talent and progress in future if it chooses Brexit and leaves the European Union, according to Professor Stephen Hawking and 150 other distinguished scientists. Tech Week reports: The UK should stay within the European Union as an exit would be a “disaster” for British science. This was the stark warning from 150 scientists of the Royal Society, including renowned physicist Stephen Hawking, who signed a letter to the Times newspaper.

Submitted by David Stockman via Contra Corner blog,

The desperate suzerains of the Red Ponzi are incorrigible. There appears to be no insult to economic rationality that they will not attempt in order to perpetuate their power, privileges and rule.

So now comes the most preposterous gambit yet. Namely, a veritable tsunami of state handouts to foster, yes, capitalist entrepreneurs!

The market's volatile swing are clearly too much for the central banker-incubating hedge fund known as Goldman Sachs, because just three days after Goldman said there has "never been a better time to buy S&P calls", when it said that "our GS-EQMOVE model estimates there is a 21% probability of a 5% up-move over the next month based on the current levels of S&P 500 Free Cash Flow yield, Return on Equity, ISM new orders and US Capacity Utilization"...

... moments ago the same Goldman announced that: