United States

Submitted by Bill Bonner of Bonner & Partners (annotated by Acting-Man's Pater Tenebrarum),

Heresy!

The Dow rose 222 points on Tuesday – or just over 1% - and everyone was exuberant...but things have not turned out well since. We agree with hedge-fund manager Stanley Druckenmiller: This is not a good time to be a U.S. stock market bull.

Legendary former hedge fund manager Stanley Druckenmiller at the Ira Sohn conference – not an optimist at present, to put it mildly.

Trevor Thrall looks at how major U.S. papers have covered the extent of our government’s recent military involvement in other countries, and finds that they have covered it less frequently as it has increased:

The fate of oil companies and nations hangs in the balance of oil prices. Russia could go broke. Some think that’s by US design. Saudi Arabia could experience its Arab Spring if oil prices remain too low too long. And OPEC is dead. That’s the biggest news in this new century for oil.

The total US rig count declined yet again this week, down 9 to 406 - a new record low. The last four times rig counts collapsed anything like this, the US economy was in recession.

Oil rigs dropped 10 to a new cycle low at 318, but appear near a turning point if lagged oil prices remain any indication...

Or is US production about to fall off a cliff?

Former US Speaker John Boehner has said that it is very likely that Hillary Clinton will withdraw from the presidential race due to her email scandal. Boehner has been speculating that Hillary Clinton’s legal troubles are so serious that it’s possible we will see Vice President Joe Biden “parachuting” into the race at the last minute Speaking at the SALT conference in Las Vegas on Thursday, Boehner said that Democrats may need to turn to Biden to be their 2016 nominee.