iPhone

Yesterday we showed dramatic footage from various dash cams capturing the "apocalyptic" inferno that has made a burning ghost town out of Fort McMurray and is still raging in the heart of the Alberta oil sands. Today we present something more personal: in the following clip, Fort McMurray resident James O’Reilly watches on his iPhone as his home of almost 20 years burned to the ground just minutes after he and his wife fled the oncoming wildfire.

• Trump, under pressure to unite Republicans, sharpens attack on Clinton (Reuters)
• Trump's Campaign Upends the Science of Presidential Transition (BBG)
• Trump says Britain would be better off outside EU (Reuters)
• Goldman Said to Extend Fixed-Income Job Cuts to 10% of Staff (BBG)
• Apple's Tim Cook to visit China for government meetings (Reuters)
• China regulator studying impact of overseas-listed firms relisting in China (Reuters)
• China Ponzi Warning to Asset Managers Cites Pooling of Cash (BBG)

Submitted by David Stockman via Contra Corner blog,

First there were seventeen. At length, there was one.

Donald Trump’s wildly improbable capture of the GOP nomination, therefore, is the most significant upheaval in American politics since Ronald Reagan. And the proximate cause is essentially the same. Like back then, an era of drastic bipartisan mis-governance has finally generated an electoral impulse to sweep out the stables.

• Europe shares, oil snap four-day losing streaks (Reuters)
• Oil rallies as Canada fire and Libya violence threaten supply (Reuters)
• How Trump Won—and How the GOP Let Him (WSJ)
• Hedge Fudge Managers Lose Their Swagger (BBG)
• Turkey Premier Said to Give Up as Erdogan Tightens Grip (BBG)
• Health Insurers Struggle to Offset New Costs (WSJ)
• Judge says Clinton may have to testify in email lawsuit (Reuters)
• Trump's deportation plan could slice 2 percent off U.S. GDP (Reuters)

Submitted by Simon Black via SovereignMan.com,

There’s something about being insanely rich that people will believe every word that comes out of your mouth no matter how bizarre.

And no, I’m not talking about Donald Trump. Warren Buffett is an even better example.

As one of the richest men in the world, Buffett’s opinions carry almost Biblical impact, even when they might be completely ridiculous.