UMN Professor Lectures On "The Violence Of Whiteness"

Authored by Toni Airaksinen via Campus Reform,

The University of Minnesota has invited a professor dedicated to “dismantling whiteness” to speak next week on how whiteness is an “existential threat” to the United States. 

The Elephant in the Room: A ‘Grown Up’ Conversation about Whiteness” will be presented by Lisa Anderson-Levy, an Anthropology professor at Beloit College whose teaching philosophy is predicated on the belief that “teaching is a political act.” 

Steel Output Surge Saves Chinese Economy Despite Credit Impulse Collapse

Despite all the discontinuities that the lunar new year causes in China’s macro data, the global synchronous recovery narrative is fading fast, but while retail sales missed, China’s Industrial Production surged in February (thanks to Steel production up 5.9% YoY).

China’s macro data has been disappointing for a couple of months…

And as Bloomberg’s Enda Curran notes, it’s China

The Democrats’ Russian Hysteria Summarized In 2 Pelosi Press Statements

Having been thoroughly embarrassed by their brazen flip-floppery over former FBI Director James Comey:

Democrats were enamored with Comey over the summer of 2016 when when he famously recommended against pressing charges in the Clinton email investigation.

Then, they soured on Comey after he reopened the investigation a little over a week before the election, demanding he resign.

And then they vehemently defended the honorable FBI Director, shocked and horrified when Trump fired him.

Not The Onion: Elon Musk Poaching "The Onion" Staffers For Secret Project

Elon Musk has a secret project and has hired several former top staffers and writers of satirical news site The Onion to work on it, according to The Daily Beast

Former Onion editor in chief Cole Bolton and executive editor Ben Berkley left the publication last year due to differences with the company’s management. Since then, the two have been in Los Angeles working on the Musk project, and they recently poached three of the site’s writers and

The Last Breakout…

Authored by Lance Roberts via,

Well, I jinxed it.

In this past weekend’s missive I wrote:

“There are generally two events that happen every year – somebody forgets their coat, goggles or some other article of clothing needed for skiing, and someone visits the emergency clinic with a minor injury.”

The tradition continues as my wife fell and tore her ACL. The good news is she tore the right one three years

NYC Housing Becoming More Affordable Amid Growing Vacancies And Flood Of New Inventory

On Tuesday we noted that Manhattan apartment sales have plummeted to a 6-year low amid a 20.1% drop in co-op and condo sales. 

Today, the Wall St. Journal reports that housing in New York City is becoming more affordable in general – pointing to an increase in inventory and rising incomes. 

A new U.S. Census Bureau survey shows a record amount of new housing, while the rental-vacancy rate is at its third highest level since the bureau

Globalists Or Nationalists: Who Owns The Future?

Authored by Patrick Buchanan via,

Robert Bartley, the late editorial page editor of The Wall Street Journal, was a free trade zealot who for decades championed a five-word amendment to the Constitution: “There shall be open borders.”

Bartley accepted what the erasure of America’s borders and an endless influx or foreign peoples and goods would mean for his country.

Said Bartley, “I think the nation-state is finished.”

His vision and ideology had a long

There’s At Least 3.8 Trillion Reasons Why Gundlach Might Be Wrong About Bonds

In tonight’s presentation, DoubleLine’s Jeff Gundlach reiterated his warning to investors that 10Y yields “are likely to break out to the upside.”

He certainly nailed it last time, when he pointed to his ‘favorite’ indicator (Copper/Gold) signaling that bond yields were due to go considerably higher…

But as is evident above, copper underperformance in recent weeks have not helped

Trumpism Sparks A Dangerous Explosion Of Socialist Movements Across America

Last month, the National Rifle Association (NRA) CEO Wayne LaPierre issued a critical warning to the Conservative Political Action Conference (CPAC): socialists are on the verge of taking over this country.

LaPierre’s comment was in response to the recent surge in membership of the Democratic Socialists of America (DSA), the largest socialist organization in the United States, with some 32,000

Bankrupt Baltimore ‘Somehow’ Finds Money To Fund Lawyers For Illegal Immigrants

Baltimore ranks high on the “shithole” list for its widespread death and destruction. The city’s population hit a 100-year low in 2017, as residents are fleeing neighborhoods to escape the violent crime. The federal government stepped in last year at the request of the mayor to get the city under control. Intelligent agencies are circling above with light aircraft using optics and other spy-tech to monitor residents, meanwhile, a network of cameras on the city

New Jersey Prepares To Raise Taxes On "Almost Everything" As It Nears Financial Disaster

Last week we noted that in what was a radical U-turn to what other public pension funds have been doing in recent years – most notably Calpers  – the struggling New Jersey public pension system decided that instead of lowering its expected rate of return, it would raise it, from 7% to 7.5%.

The simple reason behind this odd increase in projected returns was an accounting sleight of hand which would allow the state of

BofA Deposit Data Shows A Massive Jump In Wages And Salaries, But There’s A Catch

When it comes to measuring Americans’ income and wages, one can use the brute, seasonally-adjusted shotgun approach applied by the BLS which takes aggregate data and applies statistical analysis to infer monthly data, or one can actually go bottoms-up and look at credit and debit card spending data coupled with changes in bank deposits to determine net changes in household wealth with near Swiss-watch precision.

The latter is precisely what Bank of America has done:

Robert Reich Gets These Seven Economics "Fundamentals" Very Wrong

Authored by William Anderson via The Mises Institute,

Nearly 40 years ago, Lawrence Reed published “Seven Fallacies of Economics” in The Freeman in which he noted that much of what the public believes about economics is fallacious because most people fail to understand simple opportunity cost. Given the current trends in political economy, it is a sad certainty that most if not all of the fallacies Reed listed are still taken as economic truths

Showdown With California Looms As EPA Refuses To Extend Fuel-Economy Rules

President Donald Trump is traveling to California Tuesday for his first visit to the US’s most populous state since taking office. But back in Washington, the administration has launched its latest salvo in its battle with the Sunshine State.

Per Bloomberg, the Environmental Protection Agency on Tuesday signaled that it won’t dictate the future of ambitious automobile fuel economy regulations adopted during the Obama administration.

“California is not the arbiter of these issues,” Environmental

"How Dare She": ICE Director Slams Pelosi For "Terrorists" Remark

Acting Director of Immigration and Customs Enforcement (ICE) Tom Homan says his agency does not arrest law abiding people, following recent criticisms from House Minority Leader Nancy Pelosi (D-CA), Senator Dianne Feinstein (D-CA) and California governor Jerry Brown. 

“How dare she say we are terrorizing communities,” Homan said in response to March 7 comments by Nancy Pelosi following a series

How Will Gold Prices Behave During The Next Economic Crisis?

Authored by Brandon Smith via Birch Group,

It is generally well known in economic circles and in the general public that precious metals, including gold, tend to be the go-to investment during times of fiscal uncertainty. There is a good reason for this. Precious metals have foundation qualities that provide trade stability; these include inherent rarity (rather than artificially engineered rarity such as that associated with cryptocurrencies), tangibility (you can hold gold in your hand,

WTI/RBOB Rise After Smaller Than Expected Crude Build

Anxiety over Rexit and growing concerns that global demand might not absorb swelling US supplies sent WTI/RBOB notably lower today but prices rebounded modestly after API showed notable product draws and smaller than expected crude build.

“The EIA report yesterday about the expected increase in shale output next month certainly weighed on things,” John Kilduff, founding partner at Again Capital, said in a phone interview to Bloomberg.


Crude +1.156mm (+2.5mm exp)


Taleb: "Best Thing For Society Is Bankruptcy Of Goldman Sachs"

Authored by George Eaton via,

In Taleb’s universe, the fieriest circle of hell is reserved for bankers and neoconservatives.

Nassim Nicholas Taleb is an intellectual brawler, a philosophical pugilist. His new book, Skin in the Game, put me in mind of the final scene of The Godfather or Reservoir Dogs: everybody gets whacked. Bankers and bureaucrats, warmongers and wonks – all are targeted by Taleb.

Rexit Rout: Gold Pops As Tech Stocks, Bond Yields, Dollar Tumble

It appears Rexit was a bigger deal to markets than Cohn-xit…


Between Rexit, UK-Russia tensions, and Trump’s tariffs on China, bonds and bullion were bid as safe-havens while the dollar and stocks slumped…


Tech stocks were the most troubled today following the Qualcomm/Broadcom deal death and chatter from Washington of more targeted tariffs on China, but

Russia Responds To Appointment Of Pompeo As New Secretary Of State

When Rex Tillerson was appointed Secretary of State in late 2016, there were howls of indignation from the “resistance” accusing Trump of adding yet another pro-Russian to his closest circle: after all, why else would Tillerson have been awarded the 2013 Russian Order of Friendship award, if not to further promote the Russian agenda, or so the thinking went. The WaPo even penned “What is the Russian Order of Friendship, and why does Rex Tillerson

Rationalizing Peak-Cycle Numbers: Investors "Unconcerned" About Record Corporate Debt

Authored by John Rubino via,

A branch of journalism that might be called, “don’t worry, be happy, because this time is different” tends to pop up at the peak of cycles when imbalances that caused past crashes start to reemerge. Eager to keep the gravy train going, business publications send reporters out to interview industry experts (who are making fortunes from the ongoing expansion) on why this batch of imbalances is actually no problem

March Madness For Investors

Authored by Michael Lebowitz via,

Outcome versus Process Strategies

It is that time of year when the markets play second fiddle to debates about which twelve seed could be this year’s Cinderella in the NCAA basketball tournament. For college basketball fans, this particular time of year has been dubbed March Madness. The widespread popularity of the NCAA tournament is not just about the games, the schools, and the players, but just as importantly, it

Strong Demand For 30Y Paper Shows No Shortage Of Buyers Amid Surge In Issuance

Following yesterday’s strong 3Y and 10Y auction in a day of supply deluge, moments ago the Treasury sold $13 Billion in 30Y paper in the latest strong auction, which stopped at a high yield of 3.109%, stopping through the when issued 3.114% by 0.5bps. The Bid to Cover also showed a marked improvement, rising from 2.26 to 2.38, if just below the 6 month auction average.

Once again, refuting the incorrect narrative that foreigners are

"Good Bio, Poor Candidate" – Republican Strategists Trash Saccone As PA Voters Head To Polls

For an election in a district that won’t exist in a few months, pundits are claiming that the outcome of Tuesday’s special election in Pennsylvania’s seventeenth district could be a harbinger of the November midterms.

As Politico explains, the traditionally blue-collar district in Southwestern Pennsylvania is “ancestrally Democratic” – the party has a six-point voter registration advantage thanks to the coal mines and steelworks that dot Allegheny County and the surrounding area. But over the

Trump Fires Tillerson’s Top Deputy Steve Goldstein Amid State Department Purge

Just hours after news broke that Secretary of State Rex Tillerson was let go on Wednesday morning, the White House also fired his top deputy, Under Secretary Steve Goldstein – who earlier disputed the terms of Tillerson’s firing – amid what appears to be an unprecedented State Department purge.

According to CBS, the White House called Goldstein to tell him he is no longer needed. Goldstein was then called up to Tillerson’s office for a

SocGen: "We Are Not Buyers Of US Equities"

“Bulls beware!” is the ominous big picture headline from Societe Generale’s latest Equity Strategy report.

Simply put, Roland Kaloyan explains that investors are facing “a tired bull market”

We started our 2018 equity outlook by highlighting our concern about the volatility regime given the amount of short volatility positions in the market. Looking forward, a higher volatility regime

Stocks Tumble Into Red As Breakevens Plunge

The Kudlow bounce is dead (again). Early gains in stocks have evaporated in the last hour as it appears inflation hype is fading fast (and breakevens are plunging)…


And as Breakevens plunge, so stocks have all slumped into the red (led by Financials) – apart from Trannies…

Close Associate Of Late Russian Billionaire Found Dead In Britain

It’s becoming increasingly perilous for Russians living in the UK.

Just days after a chemical toxin was used in an attempted murder on former Russian double agent Sergey Skripal, an attack which has since been blamed on Moscow, this morning a close associate of the late oligarch Boris Berezovsky has been found dead in Britain.

Nikolai Glushkov, a former deputy director of Aeroflot, died at the age of 69, Russia’s Business FM radio station said,

Dick’s Stock Tumbles To Conservatives’ Delight

Two weeks after Dick’s Sporting Goods infuriated First Amendment supporters when the sporting goods retailer announced it would end sales of assault rifles, its stock is plunging and conservatives will hardly shed a tear.

In early trading, shares of Dick’s tumbled as much as 7.3% to just above $30.19, its biggest intraday decline since mid-November, slashing in half the

Russia Threatens Military Action Against US If Washington Strikes Syria

While mystery still surrounds the statement by now-former Secretary of State Rex Tillerson who on Monday – when he already knew he was fired – said that Moscow is “clearly” behind the poisoning of Russian double-agent Skripal in the UK and that the Russian action would “trigger a response”, and whether this was a tacit defiance of Trump as he no longer had anything to lose, it is clear that relations between Russia and the

Frontrunning: March 13

Trump ousts Rex Tillerson as secretary of state (WaPo) Stock futures jump after data dims fears of inflation overheating (Reuters) Bond Market’s Most Feared Traders Threaten Treasuries Once Again (BBG) Russian military says will respond if U.S. strikes Syria (Reuters) Murder and Protests Rock a Small European Nation (BBG) A Sea Change Is Underway in Money Markets (BBG) Roger Stone claimed contact with WikiLeaks’s founder in 2016, two associates say (WaPo) New York financier Lynn