Authored by Charles Hugh Smith via OfTwoMinds blog,
The "fixes" to the stagnation of postwar Capitalism in the 1970s were financialization, globalism, and the sustained expansion of debt--all have run out of steam.
In addition to the wildly popular topic of the market's record low volatility, coupled with speculation what could break the current spell of "endemic complacency" and what its impact would be on asset prices (yesterday we posted a fascinating take by DB's Aleksandar Kocic on the issue of the markets current "metastability"), another question that has fascinated the economic community is when will the next recession hit.
The US-led, so-called anti-terrorist, coalition has reportedly shot down a Syrian government forces aircraft. Reuters reports the Syrian Arab Army announced that the aircraft was brought down in the southern Raqqa countryside, while it was engaging a fleeing ISIS convoy. The pilot remains missing.
SyAAF Su-22 was lost in #Rasafa area while striking #ISIS positions
— Within Syria (@WithinSyriaBlog) June 18, 2017
North Korea is accusing the US of seizing an official diplomatic package from a team of diplomats headed home from a UN summit on the rights of the disabled – an act it said was tantamount to “mugging” its delegates, who enjoy diplomatic immunity.
The bodies of seven U.S. sailors missing after the USS Fitzgerald collided with the Philippines-registered ACX Crystal early Saturday were found in flooded compartments of US destroyer, which came close to sinking after the collision tore a gash under the warship's waterline, the U.S. Navy's Seventh Fleet commander said on Sunday.
Full navy statement below: