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Scaramucci: “If The Leaks Don’t Stop, I’m Going To Pare Down The Staff”

zerohedge.com / by Tyler Durden / Jul 23, 2017 

One day after new White House communications director Anthony Scaramucci scoured through his Twitter account, deleting any tweets (mostly critical of Trump) that could be a “distraction” for the White House, on Sunday morning the former Goldman employee pledged that as one of his first steps, he would “take dramatic action” to halt the biggest problem plaguing the Trump White House: the endless torrent of leaks.

“I will take dramatic action to stop those leaks,” Scaramucci told Chris Wallace on “Fox News Sunday” adding that while he could not control leaks coming from the intergovernmental agencies, he would take action in the White House communications department.

“If the leaks don’t stop, I’m going to pare down the staff because it’s not fair to the president, to America, and to the people in government” he threatened while adding that “everyone can stay if the follow protocol against the leaks.”

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Law 101 Meets Psych 101

news.goldseek.com / By Gary Tanashian / Sunday, 23 July 2017 

Lawyers and Psychologists

Steve Saville has a post out called Don’t Think Like a Lawyer. In the post he notes the following…

“The job of a judge or juror is to impartially weigh the evidence and arguments put forward by both sides in an effort to determine which side has the stronger case. The job of a lawyer is to argue for one side, regardless of whether that side happens to be right or wrong. As a speculator it is important to think like a judge or a juror, not a lawyer.”

While I often talk about the same concept in psychological terms (subordinate ego, bias and automatic thinking regimens in service to one simple goal; being on the right side of markets) the lawyer analogy works as well. Lawyers often argue cases that are lost causes; that is their job. The market and its millions of inputs from man, machine and casino patron alike is the judge and jury because it renders the verdict to any given stance.

I prefer the psychological way of looking at it, however, because psychology is more interesting to me than law. But more to the point, it is personal psychology that makes some people act like lawyers in defense of their stance at any given time. In other words, personal psychology is behind the tendency to act like a lawyer in defending positions but a lawyer’s practice has little to do with human psychology.

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Episode #195 – SUNDAY WIRE: ‘Chickenhawk Nation’ with Patrick Henningsen, Mike Robinson

21stcenturywire.com / BY 21WIRE / JULY 23, 2017

Episode #195 of SUNDAY WIRE SHOW resumes on July 23rd, 2017 as guest host Patrick Henningsen brings you this week’s LIVE broadcast on the Alternate Current Radio Network – covering all the top news stories both at home and internationally…

LISTEN LIVE ON THIS PAGE AT THE FOLLOWING SCHEDULED SHOW TIMES:

5pm-8pm UK Time | 12pm-3pm ET (US) | 9am-12am PT (US)

This week we deliver another LIVE broadcast from the UK, as SUNDAY WIRE host Patrick Henningsen is joined by Mike Robinson, editor of the UK Column, as we discuss this past weekend’s event at the Grenfell Tower in West London, and hear some testimonies from effected residents. Later in the second our we’ll discuss the collapse of the US Mainstream Media including the recent case of Kurt Eichenwald and Newsweek magazine who were defeated by a Sputnik News staff writer in a recent legal challenge, John McCain’s recent diagnosis, as well as the recent CIA announcement that they are finally halting (or so they claim) their failed ‘train and equip’ covert program in Syria used to traffic weapons into the hand of terrorists in Syria, and much, much more…

VOTE IN OUR NEWS POLL: Who ‘Meddled’ More in the 2016 Election – The Democratic National Committee (DNC) or Russia?

SUPPORT 21WIRE – SUBSCRIBE & BECOME A MEMBER @21WIRE.TV

Strap yourselves in and lower the blast shield – this is your brave new world…

*NOTE: THIS EPISODE MAY CONTAIN STRONG LANGUAGE AND MATURE THEMES*

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A Complete History Of John McCain Calling For War Around The World

zerohedge.com / by Jim Carey via GeopoliticsAlert.com / Jul 22, 2017

Earlier this week notorious war hawk US Senator John McCain (R-Az) was diagnosed with brain cancer. While the liberal and conservative establishments are sending their regards, Geopolitics Alert instead compiled a list of reasons why we don’t care about McCain.

***

The list is of course a history of all the instances McCain has called for US-led intervention around the world. There’s obviously a long history here, so Geopolitics Alert has compiled the largest examples from Europe to Asia. We’ll start with the obvious wars first.

Afghanistan and Iraq

Obviously every US senator (besides California’s Barbara Lee) voted to give president George W. Bush the power to invade Afghanistan following the events of September 11th. However, McCain wasn’t happy with just moving to invade Afghanistan. No, he had other targets on his mind as early as the day after the towers fell.

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When Corruption Is The Norm…

market-ticker.org / by Karl Denninger / 2017-07-23

This is what happens folks.

It’s why I keep telling people who think they’re going to “flee” America for some land of milk and honey to stay away from the mess here that they’re just jumping from the frying pan into the fire — and while the protections here are few, there they don’t exist at all.

The scene at the swim-up bar at the Mexican resort where Abbey Conner was pulled listless from the pool in January was full of young tourists last month when an attorney hired by Conner’s family showed up.

It wasn’t surprising. It was a typical scene at an all-inclusive five-star resort where foreigners from both sides of the equator flock to escape their cold winters.

But as he watched, the attorney noticed something disturbing.

“They serve alcoholic drinks with alcohol of bad quality and in great amounts, mixing different types of drinks,” he wrote in his native Spanish.

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Military Just Warned Americans To Exptect WAR With North Korea

shtfplan.com / Mac Slavo / July 23rd, 2017

Although most Americans are aware of the ever increasing tensions between North Korea and the United States, the military is no longer pulling any punches.  Marine Gen. Joseph Dunford, the chairman of the Joint Chiefs of Staff, suggested Saturday that Americans must be “prepared for the possibility of a military confrontation with North Korea.”

The United States is now declaring the rogue country’s nuclear program an “urgent threat” by Dunford as well. While speaking at the Aspen Security Forum, a gathering of national security officials in Colorado, Dunford said:

Many people have talked about military options with words like ‘unimaginable. I would probably shift that slightly and say it would be horrific, and it would be a loss of life unlike any we have experienced in our lifetimes, and I mean anyone who’s been alive since World War II has never seen the loss of life that could occur if there’s a conflict on the Korean Peninsula. But as I’ve told my counterparts, both friend and foe, it is not unimaginable to have military options to respond to North Korean nuclear capability. What’s unimaginable to me is allowing a capability that would allow a nuclear weapon to land in Denver, Colorado. That’s unimaginable to me. So my job will be to develop military options to make sure that doesn’t happen.”

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“I Have Taken A Closer Look At The Data From EIA…”: Why Horseman Global Is Aggressively Shorting Shale

zerohedge.com / by Tyler Durden / Jul 22, 2017 

Having staged a dramatic reversal at the end of 2016, when the world’s formerly most bearish hedge fund – it was net short over 100% in late 2016, which in turn led to a -24% return last year…

***

… rerisked, turning flat in just a few months, Horseman Global – now short developed markets and long emerging markets, and having lost 8.31% through the end of June – is once again dipping its toes in shorting stocks in general, and shale producers in particular. And, in Russell Clark’s latest letter, the Horseman CIO explains why.

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Last Chance for the Dollar to Rally

news.goldseek.com / By Gary Savage / Sunday, 23 July 2017

I think we need to focus on what is happening to the dollar. The intermediate cycle is now 63 weeks long. Clearly that isn’t normal. I’ve maintained for several years that the end game was going to play out in the currency markets. There has to be consequences to printing trillions and trillions of currency units , and leaving interest rates at 0 for 8 years. I don’t think the consequences are going to be deflation. I think the end game will be inflation, just like it was in the 70’s, and just like it was in 2007 and 2008.

It’s taken a while to manifest as other countries have jumped into the game and turned on their printing presses as well, so the collapse in the currency I’ve been looking for has taken quite a while to unfold. The first leg down ended in 2008.

The dollar rally out of the 2014 3 YCL has fooled everyone into thinking the dollar is strong and the euro is going to collapse. So everyone is now on the wrong side of the market. That’s pretty much how every bear market starts with everyone on the wrong side of the boat.

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THE GREAT STATESMAN AND BELOVED MAYOR OF ALASKAN TOWN HAS DIED

thedailysheeple.com / DAWN LUGER / JULY 23, 2017

Stubbs, Talkeetna, Alaska’s honorary cat mayor and beloved by Alaskans and tourists alike, has died at the age of 20 according to the animal’s owners. The great statesman, who never once wrote a law or took freedom from anyone, has passed on.

After the false death report about Stubbs last year, the statesman quickly rebounded and proved he’d beaten the lies.  But not for long.  Stubbs’ death was announced late Saturday in a statement from the Spone family, which purchased Nagley’s General Store and the West Rib Pub and Grill in 2015. Part of the contract, the family said, was that Stubbs would stay with the store.  But Stubbs the cat went on to become the Mayor of Talkeetna.

Stubbs had survived an attack by a dog in 2013 but because of his age, was spending less time out and about at the general store where he had routinely let visitors pet him. By late 2016 he was largely staying at home, but was spending more time with the two kittens the Spones had taken in, Aurora and Denali.  “After a day or two of him giving them the eye and a little growl here and there; they became best friends,” the family wrote. “He got some spunk back playing with kittens. He would even swat at them as they passed and snuggle in his bed with them at night.”

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Democrats Urge Antitrust Action Against Amazon Over Whole Foods Deal

zerohedge.com / by Tyler Durden / Jul 22, 2017 

In the wake of their embarrassing electoral defeat in November, Congressional Democrats are turning against the wealthy tech benefactors who bankroll their campaigns. To wit, a group of 12 Democratic Congressman have signed a letter urging the Department of Justice and the Federal Trade Commission to conduct a more in-depth review of e-commerce giant Amazon.com Inc.’s plan to buy grocer Whole Foods Market Inc., according to Reuters.

Rumblings that Amazon is engaging in monopolistic business practices resurfaced last week when the top Democrat on the House antitrust subcommittee, David Civilline, voiced concerns about Amazon’s $13.7 billion plan to buy Whole Foods Market and urged the House Judiciary Committee to hold a hearing to examine the deal’s potential impact on consumers.

Making matters worse for the retailer, Reuters reported earlier this week that the FTC is investigating the company for allegedly misleading customers about its pricing discounts, citing a source close to the probe.

The letter is at least third troubling sign that lawmakers are turning against Amazon, even as President Donald Trump has promised to roll back regulations, presumably making it easier for megamergers like the AMZN-WFM tieup to proceed.

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Don’t Be Confused by the Facts or Why Neither the Data nor the Fed Will Alter Market Trends

marctomarket.com / by Marc Chandler / July 23, 2017

The data this week is expected to confirm what many investors have come to assume.  The US economy accelerated in Q2.   The eurozone economy is enjoying steady growth, but the momentum appears to be slowing.  The UK economy was unable to recover much after a soft Q1.  The Japanese economy is still not generating price pressures, but growth, led by the export/industrial production capex, is also fueling somewhat better consumption.
The Federal Reserve meeting is not live in the sense that anyone expects a change in the policy of any kind.  For reasons beyond our ken, the Federal Reserve insists on making changes only at the half of the FOMC meetings which are followed by a press conference. Since there are several workarounds, including, as we have suggested,  holding press conferences after every meeting, which the ECB and BOJ already do, for example.
In any event, the market understands full well where the Fed is.   It is getting close to allowing its balance sheet to begin shrinking.  After raising rates in March and June, officials are not ready to go again:  Not in July and not September.  December is a closer call.   The softer price pressures rather than, the weaker growth impulses become the focal point in Q2.  It will take a few months of data to assuage these concerns.  The main argument that what the headwind on prices is transitory seems to assume that decline in prices is narrow.  Breadth indicators of price changes, therefore, be more important than usual in the current context.  Sure enough, the diffusion indicators for the CPI were narrow, until the recent June reading.

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Legal Fears Push Newsweek to Delete Eichenwald’s Articles Used to Smear Sputnik News

21stcenturywire.com / BY 21WIRE / JULY 23, 2017

21st Century Wire says…

Failing US magazine Newsweek once again finds itself on the ropes. 

For the last year, US mainstream media outlets have given themselves license to freely spray any and all slanderous accusations regarding Russia into the public domain, and about Russian-based media outlets in particular. One of the primary motivations for this festival of defamation is of course political.Early on in the general election the ‘Russian conspiracy’ theory was promulgated by the White House and the Clinton campaign and the mainstream media in order to damage Trump’s credibility. After Clinton’s epic loss, legions of Democratic Party affiliated journalists and Hillary Clinton supporters in the media are still angry and upset about their election loss and do not accept Donald Trump as their President. As a result, many journalist are still using their positions in media to act out in public, and mostly with the full backing of their like-minded editors and media executives.

While most of the endless scapegoating and lies about Russia and Trump continue as annoying background noise, some of the US liberal establishment’s fake news and libelous claims, like stories made-up by CNN – are beginning to be challenged in the courts – which is causing a panic in many mainstream editorial news desks across America.

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Hungary’s Orban: EU And “Soros Mafia Network” Are Seeking To “Muslimize Europe”

zerohedge.com / by Tyler Durden / Jul 22, 2017 

The war of words between Hungary’s outspoken prime minister Viktor Orban and liberal billionaire George Soros escalated to previously unseen levels on Saturday, when the Hungarian PM said that European Union leaders and Soros are seeking a “new, mixed, Muslimized Europe,” however during a visit to Romania, Orban said that Hungary’s border fences, supported by other Central European countries, will block the EU-Soros effort to increase Muslim migration into Europe.

Slamming the Hungarian-born billionaire who has been accused by the Hungarian government of using his vast wealth to fund pro-mass migration organizations to create a “new, mixed, Muslimized Europe”, Orban said Brussels was in an “alliance against the people’s will” with the financier.

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Did The Dutch Central Bank Lie About Its Gold Bar List?

bullionstar.com / by Koos Jansen / 23 Jul 2017

Head of the Financial Markets Division of the Dutch central bank, Aerdt Houben, stated in an interview for newspaper Het Financieele Dagblad published in October 2016 that releasing a bar list of the Dutch official gold reserves “would cost hundreds of thousands of euros”. In this post we’ll expose this is virtually impossible – the costs to publish the bar list should be close to zero – and speculate about the far reaching implications of this falsehood. 

Recap

This story started a couple of years ago. As I am Dutch and concerned not only about my own financial wellbeing but of my country as well, I commenced inquiring my national central bank about the whereabouts and safety of our gold reserves in late 2013. One of my first actions was submitting the local equivalent of a Freedom Of Information Act – in Dutch WOB – to De Nederlandsche Bank (DNB) in order to obtain all written communication of the past decades between DNB and the Federal Reserve Bank Of New York (FRBNY). In 2013 I knew a large share of the Dutch gold was stored at the FRBNY, which I deemed to be an unnecessary risk. In a crisis situation, for example, the US government would be able to confiscate Dutch gold stored on American soil. Unfortunately, DNB responded it’s exempt from certain WOB requests under the banking law from 1998, article 3. (I thought the WOB hit a dead end, though recent developments have changed my mind regarding the legitimacy of the rejection. In a forthcoming post more on my WOB from 2013.)

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The Bottom Line On The Coulter Seat Deal

market-ticker.org / by Karl Denninger / 2017-07-23

Ann Coulter may be one of the most-hated women in America (by half the country, anyway) but that doesn’t change what happened with her and Delta.

She paid for an assigned and premium seat.  She was assigned that seat.  The airline then moved her to give that seat to someone else.

Folks, this isn’t “overbooking”, but it is fraud.

Contract of carriage or no, the facts are simple in this sort of situation.  Today airlines do not give you assigned seats until you get to the airport unless you pay an extra fee.  That is, an assigned seat is no longer part of your “base fare”, it is an explicit service for which you pay.

Once you’ve paid you’ve had offer, acceptance and an act in furtherance of performance has taken place.

That’s a binding contract — period.

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White House Closing Down War Crimes Office (After Being Accused Of War Crimes)

zerohedge.com / by Darius Shatahmasebi via TheAntiMedia.org / Jul 22, 2017

Secretary of State Rex Tillerson is reportedly closing a decades-old office in the State Department that has helped pursue justice for victims of war crimes.

***

The “Office of Global Criminal Justice” advises the secretary of state on issues surrounding war crimes and genocide. It was established by Bill Clinton’s secretary of state, Madeleine Albright, a woman who barely batted an eyelid while overseeing the deaths of 500,000 Iraqi children.

According to Newsweek, the office has supported criminal courts in Rwanda, former Yugoslavia, Cambodia, and the Central African Republic. This alone should give one an idea of the office’s intentions and prerogatives: it is often concerned with punishing African nations – as the International Criminal Court (ICC) is often accused of doing — as well as America’s adversaries but also tends to ignore the actions of the United States and its allies.

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Metals Moving But Not Leading

news.goldseek.com / By Warren Bevan / Sunday, 23 July 2017

The metals continue to rise and are accelerating now past resistance levels nicely.

That said, I remain much more focused on leading stocks who are breaking out, not those coming out of corrections as the miners are.

Nearly everything, including the metals, are working well so enjoy it for as long as it lasts.

The trend is up.

***

Gold gained 2.23% this week and moved nicely past the $1,250 resistance area where the 50 and 100 day moving averages sit.

We should see this move take us back up to the $1,300 resistance level over the next few weeks.

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13-Year-Old Kid Buys $552,000 Home

mishtalk.com / Mike “Mish” Shedlock / July 23, 2017

Meet Akira Ellis a 13-year-old kid. He just bought his first piece of real estate, a $552,000 four-room one bath house in Melbourne’s Frankston.

***

Akira Ellis snapped up the 575 square metre four-bedroom, one-bathroom home in Frankston in May – when he was still 12 – and recently settled the sale.

“[Buying a house] can be quite scary, especially when it’s your first purchase and renovation – there are so many things to think about,” he told the Express Advocate.

“It’s a big investment and a mistake can cost you a lot”.

Although he hunted down and picked the property, the Gosford teenager is not alone in the venture with a fair bit of help from his parents Frank and Mychel.

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David Rosenberg: “This Is The Single Most Important Thing For The Market Over The Next Decade”

zerohedge.com / by Tyler Durden / Jul 22, 2017

Several years ago, Gluskin Sheff’s superstar economist (previously at Merrill), David Rosenberg (in)famously flipped from bear to bull, predicting what amounts to a victory for the Fed: a jump in (wage) inflation, a burst in economic growth, and an overall selloff in that most deflation-dependent asset, the US Treasury. None of those happened, and while we (gently) mocked Rosie’s transformation at the time, recently Rosenberg himself admitted that our skepticism was accurate, when he reverted to his bearish bias over the past year, predicting that deflation would end up winning after all.

Today, in his latest market musings chartpack, we present the key reasons why Rosenberg has never been more convinced that all those calling for an end to the secular bond bull market, are wrong and why despite the Fed’s best intentions to create the impression that the global economy is stabilizing, what is about to be unleashed on the global economy is at least 5 years of accelerating deflationary pressures.

As the main catalysts for his gloomy outlook, Rosenberg lists the obvious ones, debt and deflation, but by far the most important factor that prompted Rosenberg to revert to the “dark side”, the one about which Rosie says “nothing is more important than this if you are looking at what will fundamentally influence the financial markets for the next decade-plus”… is demographics.

“The first of the boomers turned 70 this past year, that 80 million proverbial pig-in-the-python in North America, and 1.5 million will be doing so each year for the next fifteen years.”

That fact, Rosenberg believes, will be the single most important driver of returns over the next decade.

Below, he explains why those seeking to understand market moves and inflationary forces over the coming ten years, should first and foremost focus on demographics. Everything else will follow.

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If America Does Not Turn Back To God, There Isn’t Going To Be An America

endoftheamericandream.com / by Michael Snyder / July 22, 2017

I know that politicians aren’t supposed to talk like this, but I don’t care. I am not a politician and I never will be. And I am not running for Congress because I want a career in politics. We have enough career politicians right now, and so we definitely don’t need another one. So I am not going to carefully craft a message that I think that the voters want to hear. Instead, I am just going to tell the truth, and I believe that people all over America are going to stand with me. And the truth is that if America does not turn back to God, there isn’t going to be an America.

Since Roe v. Wade was decided in 1973, close to 60 million American children have been murdered by the abortion industry.

The blood of 60 million children is crying out from the ground against us, and if we continue to slaughter children on an industrial scale there will be absolutely no future for our nation.

So no, I don’t plan to tone down my message. I have been urged to compromise on my message in order to attract more voters, and that is how it always starts. Politicians start making compromise after compromise, and after a while they become spineless jellyfish that don’t really stand for anything.

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California homeowners are getting older and taking homes into the grave. Property turnover has fallen substantially since 2000.

doctorhousingbubble.com / July 22nd, 2017

California homeowners are entering into their geriatric phase.  The share of homes owned by older Californians has grown substantially since 2000.  The Taco Tuesday baby boomer crowd is dominating the ranks of homeowners.  This trend is new and because of key items like Prop 13 and Millennials living with parents, very few homes are turning over.  The first time home buyer in California is simply getting older and older contrary to the house humping cheerleaders talking about the days of “sucking it up” and having to save to buy a home.  Of course many were not contending with hot global money, limited inventory, artificially low interest rates, and a delusion of crap shack grandeur.  Now some yell from their beer belly exposed guts and a savory carne asada taco in the other hand that people should move out if they don’t like it here (and many are).  The economics of course are more subtle.

California old folks home

The old dominate the homeownership ranks in California.  Fewer properties are turning over because many older homeowners are now having their grown adult children moving back in.  Which makes sense since many bought because they were itching to pop out offspring.  Now their offspring is itching to pop out offspring but many are hesitant to do that when a “starter home” is $700,000 and many times is in an area with bad schools.

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“You Afraid Of A Dead Body?” Boys Who Laughed While Man Drowned Will Face Charges

zerohedge.com / by Tyler Durden / Jul 22, 2017

In a news story that sounds like something from Mad Max, a group of Florida teenagers who filmed themselves laughing and cracking jokes while a disabled man drowned, and then left the scene without telling anybody, will face criminal charges after all – but there’s a catch.

The teenagers, each between the ages of 14 and 16, will be charged with not reporting a death, a misdemeanor offense under Florida law. Authorities initially said there didn’t appear to be grounds to prosecute the teens, who were caught on camera mocking 32-year-old Jamel Dunn as he drowned in Cocoa, Florida, according to the New York Post.

The callous crime, which is vaguely reminiscent of the infamous Kitty Genovese slaying in New York City, is indicative of a trend tht has been bothering older Americans since the first signs began emerging in the early 90s. The contemporary breakdown in communal responsibility, fostered by smartphones and digitization of daily life, where violent videos inure children to death and violence. The boys can be heard in the video discussing Dunn’s impending death. One of the boys teased another about being scared to see a dead body, the boy replies “I ain’t scared to see no dead person.”

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Perpetual Debt Slavery

deviantinvestor.com / by Gary Christenson / July 21, 2017

Reprinted with permission from Daniel Ameduri

***********

“We love real estate. I’ve been buying rental property since I was 18 years old!

From flips to cash flow, the reason I’ve always personally been attracted to this asset class is the size of the numbers you are dealing with.

One of the most frequent questions we get is whether or not home prices have topped out and if we should expect a big crash.

As with the stock market, it doesn’t matter what should happen or why a price correction is overdue. All that matters is the driving forces behind the 7-year boom in real estate appreciation.

First off, never underestimate the stupidity of government, power of the Federal Reserve, or the greed from our largest corporations that are essentially one with the regulators and people in power.

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Steve Quayle – Elite Will Tell World Biggest Lie of All

Greg Hunter, Jul 22, 2017

Market “Paralysis” Confirmed – Squeezed Shorts And Anxious Longs Are Fleeing Stocks

zerohedge.com / by Tyler Durden / Jul 22, 2017

For the last two years, short interest in the US stock market’s largest ETF has collapsed as bears have been squeezed back to their lowest level of negativity since Q2 2007 (the prior peak in the S&P). But, there’s a bigger issue – despite record highs and ‘no brainer’ dip-buying, anxious longs have dumped S&P ETF holdings for four straight months – the longest streak since 2009 – seemingly confirming Canaccord‘s recent finding that “it’s not complacency, it’s paralysis.”

Bearish investors say they are scaling back on these bets not because their view of the market has fundamentally changed, but because it is difficult to stick to a money-losing strategy when it seems stocks can only go up.

“There seems to be an overall view that people are invincible, that things will always go up, that there are no risks and no matter what goes on, no matter what foolishness is in play, people don’t care,” said Marc Cohodes, whose hedge fund focused on shorting stocks closed in 2008.

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