BEHOLD the Bond King Gundlach: Markets Are Nothing Without QE

Lord Jeffrey Gundlach, Bond King, said the Fed gained credibility by not raising rates–coming to grips with reality. Moreover, as he points out so eloquently, the market has done dick since QE ended in 2014, more than 18 months ago. As for the astute imbeciles at the ECB, they’ve bargained with the devil and lost. Their negative interest rate policies have been disastrous for their markets.

I challenge any one of you to debate the Bond King on this issue.

This is unbelievable. Who the hell are these 51 people in the state department that want to start world war 3, over fucking Syria?

Let me do the math.

Assad is fighting ISIS.

The United States was supporting the removal of Assad, effectively supporting ISIS, up until it became politically toxic.

NATO, via Turkey, has been helping ISIS, buying their oil.

Turkey shot down a Russian warplane, without provocation.

Russia intervened on behalf of Assad to push back ISIS and was successful in achieving their stated goals. Russia, in addition to taking out military personnel, wreaked havoc on the ISIS oil gravy train, something we didn’t do ‘for environmental reasons’.

We got very mad at Russia for intervening and cock blocking us.

Now we want to ATTACK Assad, who is allied with Putin.

Fuck this.

More than 50 State Department diplomats have signed an internal memo critical of U.S. policy in Syria, calling for military strikes against President Bashar al-Assad’s government to stop its persistent violations of a civil war ceasefire.

The “dissent channel cable” was signed by 51 mid- to high-level State Department officers advising on Syria policy.

It calls for “targeted military strikes” against the Syrian government in light of the near-collapse of the ceasefire brokered earlier this year, the Wall Street Journal reported, citing copies of the cable it had seen.

U.S. Secretary of State John Kerry, visiting Copenhagen, told Reuters on Friday: “It’s an important statement and I respect the process, very, very much. I will … have a chance to meet with people when I get back (to Washington).”

He said he had not seen the memo.

Military strikes against the Assad government would represent a major change in the Obama administration’s policy of not intervening directly in the Syrian civil war, while calling for a political transition that would see Assad leave power.

Such strikes would put the United States on a collision course with Russia, which is backing Assad with air strikes, equipment, training and military advice.

In Moscow, Kremlin spokesman Dmitry Peskov said he had only seen media reports about the memo, but said: “Calls for the violent overthrow of authorities in another country are unlikely to be accepted in Moscow.

“The liquidation of this or some other regime is hardly what is needed to aid the successful continuation of the battle against terrorism. Such a move is capable of plunging the region into complete chaos.”

What’s the goal here? This is wreckless diplomacy of an unbelievable brand of stupidity, rare and astounding to bear witness to.

Davidson is tossing extreme shade on a stock, which has, hitherto, enjoyed fantastic gains in 2016. To translate what they’re saying, in the clearest of terms: they don’t get it.

This company is offal and only one outcome is likely. Such an outcome is indelibly grim, especially from current levels.

DA Davidson wants you to sell.

Emerge Energy Services: Living on a prayer, starting to only see binary outcomes – DA Davidson

DA Davidson notes EMES’ stock price has increased over 200% since reporting horrendous 1Q16 results (lowest utilization across coverage universe) and confirming a covenant breach under its revolving credit facility. At that time, we still saw the light and expected cost reductions and a quick fuel segment sale to enable an amendment to its credit agreement, with enough liquidity to weather the downturn. Today they’re less sanguine about the fuel business fetching a meaningful sale price or the outlook for a company with the highest cost structure in our coverage universe being able to compete in a low cost “secular” sand demand environment. We reiterate our underweight rating and their $5 target based on a 2018 EV/EBITDA multiple of 8x. Their multiple is toward the low end of EMES’ historical range but it still might be optimistic given growing uncertainty in our estimates and increasing expectations for binary outcomes for EMES.

The stock is ignoring this hit piece today.

I just threw a fit, like a 5 year old, over a WSJ report that said China was banning the sale of iPhone 6’s because it was too similar to iPhone rip offs.

Now CNBC’s Josh Lipton is reporting that the story is untrue. If Lipton is wrong and the WSJ is correct, rumor has it that Lipton will be taken to the city square, whereby he’ll be fixed to the Catherine Wheel and beaten until his bones turn to dust.

Enough is enough already, with this fucking country and their stealing. That’s what you get Apple for having the murderous pigs at FOXCONN do your manufacturing.

A. They steal and resell your technology and manufacturing process.

B. The Chinese government then declares the company that ripped you off is the rightful inventor of the technology, because they don’t give a shit about your IP.

Intellectual property regulators in Beijing barred Apple from selling models of the iPhone 6 and 6 Plus in the city, citing strong similarity to an existing Chinese phone, The Wall Street Journal reported.

Apple has the option to appeal the regulatory ruling to a higher court, WSJ said, but some stores stopped selling the phones months ago and are switching to newer models. Apple will soon end production of both of the banned iPhone 6 models, a person familiar with the production plans told the Journal.
The regulator’s decision is another speed bump for Apple in its largest market outside of the U.S., The Journal said.

Struggling iPhone sales in the country were a major factor in the tech giant’s first quarterly decline in more than a decade this April.

China also shut down Apple’s iBooks and iTunes movies service in April, as regulators said the company did not have the appropriate licenses, people familiar with the matter told the Journal.

Shares of Apple are selling off on this news. If Tim Cook had any balls at all, he’d move manufacturing out of China. Oh, no word on whether China is going to shut down APPLE STORE REPLICAS in their dog eating, piracy filled, nation of liars and thieves.

Did that come across strong enough?

UPDATE: CNBC’s Josh Lipton is out with a source report who says the WSJ story is bullshit.

My initial reaction was a cynical one. Sorry, that’s the way I’m built. But after doing some homework on Oak Lawn, it appears the fucking rednecks down there are assholes, beating people up for their sexual orientation.

Don’t they have better things to do, like beat up a banker or two?

This donation will help pay overtime for Dallas police officers, a very kind and thoughtful gesture by Mark, who is otherwise a super asshole of the first magnitude.

Cuban’s donation will help fund approximately 16,000 hours of overtime for police officers and additional patrols in Oak Lawn — a Dallas neighborhood with a large LGBT community.

The money will help the DPD in its “response to the Orlando nightclub shooting,” according to a release from the city of Dallas.

“In the wake of national tragedies, we often hear empty talk from politicians and other influencers,” Dallas Mayor Mike Rawlings said. “With this pledge, Mark shows he is a man of action who cares deeply about his fellow Dallasites.”

This is some serious ostrich head in sand reporting from Citi. I’m reading the same narrative everywhere. Big banks wistfully declaring England will remain in the EU, while totally and completely ignoring all of the polling data that suggests they’ll leave.

Citi said a simple average of the past 10 opinion polls showed a 2.7 percentage point lead for “Leave”. This fell to 0.2 percentage points after Citi adjusted the figures to even out the number of telephone and online polls, and reduce the effect of different polling companies’ methodologies.

“Flirtation with political alternatives is often followed by ‘snapback’ to the status quo. We expect this bias for the status quo to help tilt the outcome in favor of ‘Remain,'” Citi said.

“Recent events in the UK have led to suspension of campaigning, and some increased uncertainty. Overall, we continue to put the risk of Brexit at the top of the 30-40 percent range.”

So 10 different polls say England will leave and Citi concludes there’s only a 30-40% chance it will happen? Jesus Christ, no wonder their analysts stink. They’re unable to connect two dots, add 1+1, urinate while standing up.

Both the Kingdom of Kuwait and the House of Saud have issued separate letters, expressing their dismay with Hillary, over recent comments that imply they have something to do with fomenting terrorism around the world.

Naturally, her statements were probably pre approved by her Saudi rulers, who have donated upwards of $25 million to the Clinton foundation. Nevertheless, the hall of mirrors and the pageantry of this faux anger is somewhat amusing to me.

Saudi Arabia and Kuwait have piled on outrage after Hillary Clinton condemned the weekend slaughter in Orlando and directly linked the oil-rich monarchies to the funding of terrorism.
In separate letters to Fairfax Media, the embassies for both countries in Canberra took exception to reporting of Mrs Clinton’s call to “stop supporting radical schools and mosques around the world”.

“Accusations levelled against the Kingdom of being lax or of supporting extremism fails to recognise the Kingdom’s leadership role in combating terrorism,” the Royal Embassy of Saudi Arabia wrote.

Kuwait’s embassy said it “wishes to convey its disapproval of the criticism and allegations stated by the presumptive candidate Ms. Hillary Clinton”.

Fun facts: In Saudi Arabia, homosexuality is punishable by death. How are the guilty executed? By stoning, naturally. Also, women aren’t allowed to drive, visit cemeteries or try on clothing in clothing stores. Moreover, a woman isn’t permitted to travel anywhere without a chaperone.

Alas, Hillary, the champion for gay and women’s rights, gladly and gleefully doing business with these barbarous savages of the first order.

What exactly has transpired recently, other than that singular bad jobs number, to deserve this treatise by Fed’s Bullard?Nevertheless, it appears the man from St. Louis has, finally, seen the light.

In the event of BREXIT, the blokes from HSBC are calling for a 10% storm trooping rally in gold. Like me, they believe gold should be placed on the ark, as a safe haven asset.

If, by chance, England votes to remain a slave to Brussels, they’re not really expecting more than a 5% drop. As a matter of fact, they don’t really think there is a scenario that might stop gold from ripping off heads to the upside.

Gold has historically traded as a safe haven asset and, as such, is likely to react to the results of the 23 June UK referendum on EU membership. We look at two possible scenarios, one in which the UK votes to leave and one in which the UK votes to remain in the EU, and their potential impact on gold. Scenario one, a vote to leave, could result in as much as a 10% rally in gold prices, to cUSD1,400/oz, we believe. The drive higher may be more pronounced if there were to be broader concerns about the future direction of the EU after the vote. Gold could also benefit from the reluctance of investors to move into the GBP or even the EUR. Under scenario two, a vote to remain in the EU, we believe gold is likely to fall by no more than 5%, or to USD1,220/oz, as other bullish factors are likely to support prices.

It’s a win-win situation. Can’t fucking lose.