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https://www.zerohedge.com/fullrss2.xml en https://www.zerohedge.com/news/2019-06-11/40-americans-dont-ever-see-themselves-retiring <p>A recent survey of 1,000 American adults reveals that 39% don’t think they’ll ever be financially secure enough to retire. </p> <p>17%, meanwhile, don’t think they’ll ever be able to buy their own house or apartment despite it being the #1 priority of those polled by Pollfish on behalf of <a href=”https://lendedu.com/blog/financial-goals-survey/”>LendEDU</a>. </p> <div class=”infogram-embed” data-id=”cdfbb7ac-4f7a-4a83-9e48-786ba5e504ec” data-title=”most important goal/will you hit it” data-type=”interactive”> </div> <script> <!–//–><![CDATA[// ><!– <!–//–><![CDATA[// ><!– !function(e,t,s,i){var n=”InfogramEmbeds”,o=e.getElementsByTagName(“script”)[0],d=/^http:/.test(e.location)?”http:”:”https:”;if(/^/{2}/.test(i)&(i=d+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var r=e.createElement(“script”);r.async=1,r.id=s,r.src=i,o.parentNode.insertBefore(r,o)}}(document,0,”infogram-async”,”https://e.infogram.com/js/dist/embed-loader-min.js”); //–><!]]]]><![CDATA[> //–><!]]> </script><p>Breaking down goals by generation, those worried they won’t ever be able to buy a house were mostly Millennials and Post-Millennials, while the ‘Silent Generation & Baby Boomers’ were most concerned about having enough money to retire, followed by paying off credit card debt and building an emergency fund. </p> <blockquote> <p>When it came to the age of those respondents that lacked confidence in being able to retire, 52% were over the age of 54, 30% were between the ages of 45 and 54, and 15% fell between the ages of 35 to 44. -<a href=”https://lendedu.com/blog/financial-goals-survey/”>LendEDU</a></p> </blockquote> <div class=”infogram-embed” data-id=”dc8ffcd9-9e89-446f-a678-e3cab173bda4″ data-title=”most important goals by generation” data-type=”interactive”> </div> <script> <!–//–><![CDATA[// ><!– <!–//–><![CDATA[// ><!– !function(e,t,s,i){var n=”InfogramEmbeds”,o=e.getElementsByTagName(“script”)[0],d=/^http:/.test(e.location)?”http:”:”https:”;if(/^/{2}/.test(i)&(i=d+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var r=e.createElement(“script”);r.async=1,r.id=s,r.src=i,o.parentNode.insertBefore(r,o)}}(document,0,”infogram-async”,”https://e.infogram.com/js/dist/embed-loader-min.js”); //–><!]]]]><![CDATA[> //–><!]]> </script><p><strong>What can derail goals?</strong></p> <p>While most of those polled – 93% – believe that one day they will achieve their respective financial goals, whether it took under a year, or over 20 years. That said, <strong>there are several factors which could derail their plans</strong>, such as an unexpected bill from an emergency such as a major injury or a car accident (33%), overwhelming debt (14%), or working in an industry that could experience major layoffs (9%). </p> <p>28% said that they feel relatively secure at the moment. </p> <div class=”infogram-embed” data-id=”68f4ce09-bcc5-47e1-b9e4-abb16f95d514″ data-title=”Is there anything that could derail financial dream?” data-type=”interactive”> </div> <script> <!–//–><![CDATA[// ><!– <!–//–><![CDATA[// ><!– !function(e,t,s,i){var n=”InfogramEmbeds”,o=e.getElementsByTagName(“script”)[0],d=/^http:/.test(e.location)?”http:”:”https:”;if(/^/{2}/.test(i)&(i=d+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var r=e.createElement(“script”);r.async=1,r.id=s,r.src=i,o.parentNode.insertBefore(r,o)}}(document,0,”infogram-async”,”https://e.infogram.com/js/dist/embed-loader-min.js”); //–><!]]]]><![CDATA[> //–><!]]> </script><p><strong>Screw love</strong></p> <p>Hilariously, of the 37% of those surveyed who said they are currently single – <strong>72% said reaching their financial goals </strong><strong>is more important than finding love</strong>, while 23% said love mattered the most. 5% declined to answer. </p> <div class=”infogram-embed” data-id=”ccd21d92-1fe8-4d53-a93f-cc6d6419be09″ data-title=”love or finances” data-type=”interactive”> </div> <script> <!–//–><![CDATA[// ><!– <!–//–><![CDATA[// ><!– !function(e,t,s,i){var n=”InfogramEmbeds”,o=e.getElementsByTagName(“script”)[0],d=/^http:/.test(e.location)?”http:”:”https:”;if(/^/{2}/.test(i)&(i=d+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var r=e.createElement(“script”);r.async=1,r.id=s,r.src=i,o.parentNode.insertBefore(r,o)}}(document,0,”infogram-async”,”https://e.infogram.com/js/dist/embed-loader-min.js”); //–><!]]]]><![CDATA[> //–><!]]> </script><p>The survey consisted of 1,000 American adults (18+) over a two-day span starting on May 10th, 2019. </p> Thu, 13 Jun 2019 18:15:00 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-11/40-americans-dont-ever-see-themselves-retiring https://www.zerohedge.com/news/2019-06-13/propaganda-root-all-our-problems <p><a href=”https://medium.com/@caityjohnstone/propaganda-is-the-root-of-all-our-problems-3209ab8650a4″><em>Authored by Caitlin Johnstone via Medium.com,</em></a></p> <p>A <a href=”https://www.forbes.com/sites/kerryadolan/2019/06/12/as-crowdstrike-shares-soar-on-its-ipo-day-ceo-george-kurtz-joins-the-billionaire-ranks/#6a8a17903d69″>new article by <em>Forbes</em></a> reports that the <strong>CEO of Crowdstrike, the extremely shady cybersecurity corporation</strong> which was foundational in the construction of the official CIA/CNN Russian hacking narrative, is <strong>now a billionaire.</strong></p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=3UNwitFx” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=3UNwitFx”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=Opdu7GBf 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=Opdu7GBf 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=Opdu7GBf 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=Opdu7GBf 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=Opdu7GBf 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/1_crm1qkZzHsRaDLikAreAbg.png?itok=3UNwitFx 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”0e6da777-8c4a-4f0f-b581-b2b7f492eef8″ data-responsive-image-style=”inline_images” height=”274″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/1_crm1qkZzHsRaDLikAreAbg.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>George Kurtz ascended to the billionaire rankings on the back of <a href=”https://www.marketwatch.com/story/crowdstrike-stock-jumps-as-software-ipo-frenzy-continues-2019-06-12″>soaring stocks</a> immediately after the company went public, carried no doubt on the winds of the international fame it gained from its central protagonistic role in the most well-known hacking news story of all time.<strong> A loyal servant of empire well-rewarded.</strong></p> <blockquote class=”twitter-tweet” data-lang=”en”> <p dir=”ltr” lang=”en” xml:lang=”en” xml:lang=”en”>The CEO of the Atlantic Council-tied Crowdstrike, which formed the foundation of the official CIA/CNN Russian hacking narrative, is now a billionaire. I’m telling you, the real underlying currency of this world is narrative and the ability to control it.<a href=”https://t.co/XsBCvkIDzJ”>https://t.co/XsBCvkIDzJ</a></p> — Caitlin Johnstone ⏳ (@caitoz) <a href=”https://twitter.com/caitoz/status/1138944593393664000?ref_src=twsrc%5Etfw”>June 12, 2019</a></blockquote> <script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script><p><strong>Never mind that US government insiders like Hillary Clinton <a href=”https://www.politico.com/story/2015/01/hillary-clinton-ukraine-aid-military-financial-114462″>had been prepping for escalations against Russia</a> well in advance of the 2016 elections,</strong> and that their preexisting agendas to <a href=”https://caitlinjohnstone.com/2018/01/28/russiagate-isnt-about-trump-and-it-isnt-even-ultimately-about-russia/”>shove a geostrategic obstacle off the world stage</a> benefitted from the hacking narrative as much as George Kurtz did.</p> <p><strong>Never mind that Crowdstrike <a href=”https://www.counterpunch.org/2017/03/23/cybersecurity-firm-that-attributed-dnc-hacks-to-russia-may-have-fabricated-russia-hacking-in-ukraine/”>is tied to</a> the NATO <a href=”https://caitlinjohnstone.com/2018/05/04/atlantic-council-explains-why-we-need-to-be-propagandized-for-our-own-good/”>narrative management firm</a>known as the Atlantic Council, <a href=”http://www.atlanticcouncil.org/support/supporters”>which receives funding</a> from the US government, the EU, NATO, Gulf states and powerful international oligarchs.</strong> Never mind either that Crowdstrike was financed with a whopping <a href=”https://www.breitbart.com/politics/2017/01/06/dnc-russian-hacking-conclusion-comes-google-linked-firm/”>$100 million from Google</a>, which has <a href=”http://america.aljazeera.com/articles/2014/5/6/nsa-chief-google.html”>had a cozy relationship</a> with US intelligence agencies <a href=”https://qz.com/1145669/googles-true-origin-partly-lies-in-cia-and-nsa-research-grants-for-mass-surveillance/”>since its very inception</a>.</p> <p><strong>Never mind that to this day the DNC servers have not been examined by the FBI,</strong> <a href=”https://www.breitbart.com/politics/2019/05/01/mueller-report-special-counsel-didnt-examine-dnc-servers-based-on-fbi-investigation-that-didnt-examine-dnc-servers/”>nor indeed were they examined</a> by the Special Counsel of Robert “<a href=”https://www.youtube.com/watch?v=uTDO-kuOGTQ”>Iraq has WMD</a>” Mueller, preferring instead to go with the analyses of this extremely shady outfit with extensive and well-documented ties with the oligarchic leaders of the US-centralized empire. Also never mind that the <a href=”https://newspunch.com/crowdstrike-analyst-dnc-servers-mueller/”>Crowdstrike analyst</a> who led forensics on those DNC servers <a href=”https://archives.fbi.gov/archives/news/pressrel/press-releases/shawn-henry-named-assistant-director-of-fbi-cyber-division”>had in fact worked for and was promoted by Robert Mueller</a> while the two were in the FBI.</p> <p>As I never tire of saying, <strong>the real underlying currency in our world is not gold, nor bureaucratic fiat, nor even raw military might. The real underlying currency of our world is narrative, and the ability to control it.</strong></p> <p>As soon as you really grok this dynamic, you start noticing it everywhere. George Kurtz is one clear example today of narrative control’s central role in the maintenance and expansion of existing power structures, as well as an illustration of how the empire is wired to reward those who advance pro-empire narratives and punish those who damage them; just compare how he’s doing to how Julian Assange is doing, for example.</p> <p>But you see examples pop up every day:</p> <ul><li> <p>The US State Department just got busted <a href=”https://www.independent.co.uk/news/world/americas/us-politics/us-iran-congress-meeting-money-trump-conflict-a8954191.html”>using a $1.5 million troll farm</a> to manipulate public discourse on social media about Iran.</p> </li> <li> <p><a href=”https://youtu.be/9r5MrA5r0Dc?t=5942″>Video footage</a> has <a href=”https://twitter.com/HRIMark/status/1138527955926310913″>just surfaced</a> of the OPCW Director General admitting that the OPCW did indeed deliberately omit any mention in its official findings of a report from its own investigation which contradicts the establishment narrative about a chemical strike in Douma, Syria, an admission which answers controversial questions asked by critics of western imperialism <a href=”https://consortiumnews.com/2019/05/17/confirmed-chemical-weapons-assessment-contradicting-official-syria-narrative-is-authentic/”>like myself</a>, and which the mainstream media have not so much as touched.</p> </li> <li> <p><em>Mintpress News</em> <a href=”https://www.mintpressnews.com/the-trust-project-big-media-and-silicon-valleys-weaponized-algorithms-silence-dissent/259030/”>broke a story</a> the other day about a new narrative management operation known as “The Trust Project”, a coordinated campaign by establishment-friendly mass media outlets for “gaming search-engine and social-media algorithms in collusion with major tech companies like Google and Twitter.”</p> </li> <li> <p>In a new <a href=”https://www.thecanary.co/feature/2019/06/06/un-torture-expert-says-assanges-persecution-very-similar-to-historic-witch-hunts-in-exclusive-interview/”>interview with <em>The Canary</em></a>, UN Special Rapporteur on torture Nils Melzer explicitly named the mass media as largely responsible for Assange’s psychological torture, excoriating them for the way that they “have shown a remarkable lack of critical independence and have contributed significantly to spreading abusive and deliberately distorted narratives about Mr Assange.”</p> </li> <li> <p>In a new essay called “<a href=”https://contraspin.co.nz/freeing-julian-assange-part-one/”>Freeing Julian Assange</a>”, journalist Suzie Dawson reports that “Countless articles appear to have been obliterated from the internet” about Assange and WikiLeaks, amounting to some 90 percent of the links Dawson examined which were shared in tweets by or about WikiLeaks and Assange since 2010.</p> </li> <li> <p>I just finished reading <a href=”https://swprs.org/the-propaganda-multiplier/?fbclid=IwAR25IlQH8nTnOpDt6ETjQn9ff-5p4kj5L0gc49DQwXVQpiZObGVibMhdEi4″>this excellent <em>Swiss Propaganda Research</em> essay</a>about the little-known fact that “most of the international news coverage in Western media is provided by only three global news agencies based in New York, London and Paris.”</p> </li> </ul><p>Any one of these could have a full-length Caitlin Johnstone essay written about it. I write about this stuff for a living, and even <strong>I don’t have the time or energy to write full articles about every single narrative control tool that the US-centralized empire has been implementing into its arsenal.</strong> There are too damn many of them emerging too damn fast, because they’re just that damn crucial for maintaining existing power structures.</p> <p><strong>Because whoever controls the narrative controls the world.</strong></p> <p><iframe allow=”accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture” allowfullscreen=”” frameborder=”0″ height=”393″ src=”https://www.youtube.com/embed/Yw0qkvvSE7s” width=”700″></iframe></p> <p><strong>Power used to be much easier to identify in our society: just look for the fellow with the sparkly hat made of gold sitting in a really big chair and bossing everyone around.</strong> As our society advanced philosophically, however, people began to tire of having every aspect of their society determined by some schmuck in a golden hat, and started fighting for ideals called “freedom” and “democracy” in their respective nations. And, as far as our parents and teachers have taught us, freedom and democracy are exactly what we have now.</p> <p>Except that’s all crap. <strong>Freedom and democracy only exist within the western empire to the extent that it keeps up appearances.</strong> Because the trouble with democracy, it turns out, is that human minds are very hackable, as long as you’ve got the resources. Wealthy and powerful people do have the resources, which means that it’s very possible for wealthy and powerful people to manipulate the masses into voting in a way that consistently benefits the wealthy and powerful. This is why <a href=”https://www.forbes.com/sites/katevinton/2016/06/01/these-15-billionaires-own-americas-news-media-companies/”>billionaires and narrative control</a>consistently <a href=”https://medium.com/@caityjohnstone/six-things-we-can-learn-about-us-plutocracy-by-looking-at-jeff-bezos-532ca4482ae2″>go hand-in-hand</a>.</p> <p>This dynamic has allowed for western power structures to operate in a way that western democracy was explicitly designed to prevent: for the benefit of the powerful instead of for the benefit of the voting populace. <u><em><strong>So now we’ve got people in so-called liberal democracies voting to maintain governments which advance wars which don’t benefit them, to advance intrusive surveillance and police state policies which oppress them, to advance austerity policies which harm them, to advance labor policies which exploit them, and to maintain ecocidal environmental policies which threaten the very survival of our species. All because the wealthy and powerful are able to use their wealth and power to manipulate the way people think and vote.</strong></em></u></p> <blockquote class=”twitter-tweet” data-lang=”en”> <p dir=”ltr” lang=”en” xml:lang=”en” xml:lang=”en”>I remember in the run-up to the Iraq War a friend I had known all my life suddenly said to me, ‘We must do something about this monster in Iraq.’ I said, ‘When did you first think that?’ He answered honestly, ‘A month ago’. <a href=”https://twitter.com/hashtag/Propaganda?src=hash&ref_src=twsrc%5Etfw”>#Propaganda</a> <a href=”https://twitter.com/medialens?ref_src=twsrc%5Etfw”>@medialens</a></p> — Malcolm Pryce (@exogamist) <a href=”https://twitter.com/exogamist/status/984355620584292352?ref_src=twsrc%5Etfw”>April 12, 2018</a></blockquote> <script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script><p>This is why I pay far more attention in my work to narrative control than to politics. Politics is downstream from narrative control, which is why the 2020 US presidential race is already a contest to see what level of Democratic corporatist warmonger will be running against the incumbent Republican corporatist warmonger. The narrative-controlling class does its level best to hide the fact that anything’s fundamentally wrong with the system, then when people notice it’s deeply broken they encourage them to use completely impotent tools to fix it. “Don’t like how things are run? Here, vote for our <em>other</em>puppet!”</p> <p><strong>The root of all our problems right now is the fact that human minds are very hackable with enough resources, combined with the fact that war, oppression, exploitation and ecocide are highly profitable.</strong> This dynamic has caused human collective consciousness to generally dead-end into a kind of propagandized, zombified state in which all our knowledge and all our thinking moves in alignment with the agendas of existing power structures. It’s much easier to continue believing the official narratives than to sort through everything you’ve been told about your society, your nation and your world since grade school and work out what’s true and what’s false. Many don’t have the time. Many more don’t have the courage.</p> <p><strong>We will remain in this collective dead-end, hurtling toward either Orwellian dystopia or extinction via climate collapse or nuclear armageddon, until we find a way out of it.</strong> It won’t come from the tools our rulers have given us, and it won’t come from repeating any of the old patterns which got us here. In order to escape from the increasingly adept <a href=”https://medium.com/@caityjohnstone/society-is-made-of-narrative-realizing-this-is-awakening-from-the-matrix-787c7e2539ae”>narrative control matrix</a> that is being built around our collective mind by the powerful, we’re going to have to <a href=”https://medium.com/@caityjohnstone/how-to-wake-up-f49cfa6266af”>change our relationship with narrative altogether</a>. We will either pass this great test or we will fail it, and we absolutely have the freedom to go either way.</p> <p>*  *  *</p> <p><em>The best way to get around the internet censors and make sure you see the stuff I publish is to subscribe to the mailing list for my </em><a href=”http://caitlinjohnstone.com/”><em>website</em></a><em>, which will get you an email notification for everything I publish. 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For more info on who I am, where I stand, and what I’m trying to do with this platform, </em><a href=”https://medium.com/@caityjohnstone/who-i-am-where-i-stand-and-what-im-trying-to-do-here-4a113e783578″><em>click here</em></a><em>. Everyone, racist platforms excluded, </em><a href=”https://medium.com/@caityjohnstone/i-permanently-release-all-copyrights-to-all-my-writing-use-any-of-it-however-you-want-9ad929b92d42″><em>has my permission</em></a><em>to republish or use any part of this work (or anything else I’ve written) in any way they like free of charge.</em></p> <p><em>Bitcoin donations:1Ac7PCQXoQoLA9Sh8fhAgiU3PHA2EX5Zm2</em></p> Thu, 13 Jun 2019 17:55:00 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/propaganda-root-all-our-problems https://www.zerohedge.com/news/2019-06-12/new-report-shows-plane-sized-drones-are-coming-skies-across-america <p><em>Can you imagine?</em> Plane sized autonomous delivery vehicles zooming above major metropolitan areas delivering goods that could radically transform the cargo industry.</p> <p>According to <a href=”https://www.theverge.com/2019/6/10/18657150/autonomous-cargo-drones-delivery-boeing-aircraft-faa-regulation”>The Verge</a>, delivery drones are being pilot tested across the country. In the last 5.5 months, Amazon has announced plans to deliver packages, Alphabet’s Wing received FAA approval for deliveries, and UPS has been testing its medical drone delivery service in Northern Virginia.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-12_11-18-55.png?itok=fvVdjmGT” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-12_11-18-55.png?itok=fvVdjmGT”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-18-55.png?itok=Jsky1Wc7 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-18-55.png?itok=Jsky1Wc7 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-18-55.png?itok=Jsky1Wc7 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-18-55.png?itok=Jsky1Wc7 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-18-55.png?itok=Jsky1Wc7 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-12_11-18-55.png?itok=fvVdjmGT 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”28b51b4a-cf56-4af8-aad6-2bb83c3b07fa” data-responsive-image-style=”inline_images” height=”217″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-12_11-18-55.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Instead of sending truckloads of goods on congested highways, cargo drones can seamlessly fly between distribution centers and businesses, reducing their carbon footprint but also cutting down delivery time significantly.</p> <p>The Verge noted that cargo drones are “coming in all shapes and sizes.”</p> <p>Last month, Boeing completed the first outdoor flight tests of the cargo air vehicle (CAV). The CAV is designed to carry a payload up to 500 pounds.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-12_11-21-02.png?itok=7xUHSo_N” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-12_11-21-02.png?itok=7xUHSo_N”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-02.png?itok=F-Hos45f 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-02.png?itok=F-Hos45f 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-02.png?itok=F-Hos45f 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-02.png?itok=F-Hos45f 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-02.png?itok=F-Hos45f 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-12_11-21-02.png?itok=7xUHSo_N 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”ff786e71-340f-4c78-8397-514d9ce2315f” data-responsive-image-style=”inline_images” height=”330″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-12_11-21-02.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Sabrewing, a startup in Camarillo, Calif., is developing a prototype cargo-carrying drone that’s due to begin test flights in 2020. The drone can fly 180 knots (207 miles per hour) with a cruising altitude of 22,000-feet.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-12_11-21-35.png?itok=LEdQY6fg” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-12_11-21-35.png?itok=LEdQY6fg”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-35.png?itok=dY1NCG9g 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-35.png?itok=dY1NCG9g 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-35.png?itok=dY1NCG9g 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-35.png?itok=dY1NCG9g 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-21-35.png?itok=dY1NCG9g 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-12_11-21-35.png?itok=LEdQY6fg 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”c1df170b-6e3a-4b4f-b9f8-be93c18fa066″ data-responsive-image-style=”inline_images” height=”296″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-12_11-21-35.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Cargo drone startup Natilus is working on a 30-foot drone that’s about the size and weight of a General Atomics’ MQ-1 Predator.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-12_11-22-07.png?itok=8rlr2mEp” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-12_11-22-07.png?itok=8rlr2mEp”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-22-07.png?itok=KzA4i-px 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-22-07.png?itok=KzA4i-px 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-22-07.png?itok=KzA4i-px 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-22-07.png?itok=KzA4i-px 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-22-07.png?itok=KzA4i-px 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-12_11-22-07.png?itok=8rlr2mEp 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”c4894e13-85a4-4b5c-8a47-584fdec4333f” data-responsive-image-style=”inline_images” height=”376″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-12_11-22-07.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Sichuan Tengden Technology, a Bejing based Chinese startup company, is developing a cargo drone that can haul 20 tons of cargo.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-12_11-23-47.png?itok=F8zWMVdW” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-12_11-23-47.png?itok=F8zWMVdW”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-47.png?itok=c3r83NKL 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-47.png?itok=c3r83NKL 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-47.png?itok=c3r83NKL 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-47.png?itok=c3r83NKL 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-47.png?itok=c3r83NKL 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-12_11-23-47.png?itok=F8zWMVdW 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”a89ff3ab-01c1-44eb-835c-2f118267b9a4″ data-responsive-image-style=”inline_images” height=”335″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-12_11-23-47.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Each of these companies is developing a long-range cargo drone, hoping they can be the first to soar through the skies.</p> <p>Natilus, Sichuan Tengden Technology, and Elroy Air are expected to be operational by next year.</p> <p>Elroy Air’s autonomous Chaparral system is expected to partner with FedEx, DHL, and UPS for package deliveries. According to David Merrill, CEO of Elroy Air, building cargo drones at this scale has been an enormous investment, but it’ll likely pay off in the coming years</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-12_11-23-00.png?itok=RM2MncWc” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-12_11-23-00.png?itok=RM2MncWc”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-00.png?itok=tSfYoGkW 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-00.png?itok=tSfYoGkW 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-00.png?itok=tSfYoGkW 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-00.png?itok=tSfYoGkW 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-12_11-23-00.png?itok=tSfYoGkW 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-12_11-23-00.png?itok=RM2MncWc 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”caff6749-485d-446e-a949-be22ae83239a” data-responsive-image-style=”inline_images” height=”346″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-12_11-23-00.png” alt=”” typeof=”foaf:Image” /></picture></a>.</p> <p>Airfreight accounts for about 1% of world trade volume (by tonnage) and 35% of the world trade volume when determined by the value of shipped goods. With the proliferation of cargo drones, set to launch in the next several years, it seems that the transportation industry will go through a transformation period. But don’t expect these drones to fly overhead in this economic cycle, the technology will be in high demand after the next global recession by companies who need innovative technologies to cut down on cost.</p> <p> </p> Thu, 13 Jun 2019 17:35:00 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-12/new-report-shows-plane-sized-drones-are-coming-skies-across-america https://www.zerohedge.com/news/2019-06-13/consensus-convergence-cornucopia-curious-charts <p><a href=”https://northmantrader.com/2019/06/13/curious-charts/”><em>Authored by Sven Henrich via NorthmanTrader.com,</em></a></p> <p>There are many market charts to track and most headlines are focused on the $DJIA, $SPX and $NDX, but there are other key index charts of interest, especially at this time. I call them the curious charts and both bulls and bears may want to keep a close eye on them.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/CURIOUS.png?itok=yWC_4Qk6″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/CURIOUS.png?itok=yWC_4Qk6″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/CURIOUS.png?itok=qiasuvZV 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/CURIOUS.png?itok=qiasuvZV 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/CURIOUS.png?itok=qiasuvZV 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/CURIOUS.png?itok=qiasuvZV 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/CURIOUS.png?itok=qiasuvZV 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/CURIOUS.png?itok=yWC_4Qk6 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”33742208-d42a-4a51-b6c3-23462e64fc53″ data-responsive-image-style=”inline_images” height=”291″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/CURIOUS-2.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Consensus is emerging that the Fed will cut rates at least by July although there are voices that suggest a surprise rate cut next week. The rush into stocks began last week as the Fed hinted at being open to rate cuts. Many are pointing out that in markets past initial rate cuts by the Fed, following a rate hike cycle, are bullish. At least initially.</p> <p>That certainly was true during the two most recent cycles. 2000 and 2007. Both times rallies emerged following the initial rate cut, what then followed were recessions and vicious bear markets.</p> <p>Here is $NDX highlighting the initial rate cut  in January 2001:</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/NDX2001.png?itok=FKHycPQB” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/NDX2001.png?itok=FKHycPQB”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NDX2001.png?itok=TUGwteWi 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NDX2001.png?itok=TUGwteWi 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NDX2001.png?itok=TUGwteWi 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NDX2001.png?itok=TUGwteWi 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NDX2001.png?itok=TUGwteWi 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/NDX2001.png?itok=FKHycPQB 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”79e16f79-dd6a-497d-9068-47a9a792097b” data-responsive-image-style=”inline_images” height=”212″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/NDX2001-1.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>A steep rally that ended up being sold.</p> <p>The Fed also cut rates in September 2007:</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/SPX2007.png?itok=4GkpCPY9″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/SPX2007.png?itok=4GkpCPY9″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SPX2007.png?itok=Z6Qb_HQZ 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SPX2007.png?itok=Z6Qb_HQZ 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SPX2007.png?itok=Z6Qb_HQZ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SPX2007.png?itok=Z6Qb_HQZ 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SPX2007.png?itok=Z6Qb_HQZ 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/SPX2007.png?itok=4GkpCPY9 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”43b43354-bcaa-4bd9-b5c6-7db678c777ba” data-responsive-image-style=”inline_images” height=”217″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/SPX2007-1.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Moderate new highs occurred and then markets started selling off.</p> <p>In both cases these initial rate cuts (both 50bp) were only the beginning of the journey. The Fed cut rates by more than 500bp in both cases. Why? Because that’s what it took to combat the recessions that ensued.</p> <p>Currently the Fed only has 225bp to work with and markets are pricing in that the Fed will shower them with renewed rate cut manna from central bank heaven to inspire a new rally to new all time highs.</p> <p>Since last week we’ve seen an aggressive rally in anticipation of precisely such an event. If not in June, but at least expecting anticipated language by the Fed next week to strongly hint at such a rate cut.</p> <p>So what’s the problem then? Market volumes are really low at the moment and $SPX is lingering 2.3% from all time highs at the time of this writing. Happy days are here right and more gains are guaranteed no?</p> <p>Maybe, maybe not.</p> <p><strong>In context of all this rallying, all this rate cut anticipation, all this jawboning (see also Larry Kudlow again today) four charts raise some curious questions.</strong></p> <p>Small caps ($RUT) keep lingering below key moving averages, the 50, the 100, the 200:</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/RUT-5_0.png?itok=4-poNKV3″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/RUT-5_0.png?itok=4-poNKV3″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/RUT-5_0.png?itok=qOWlLiIG 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/RUT-5_0.png?itok=qOWlLiIG 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/RUT-5_0.png?itok=qOWlLiIG 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/RUT-5_0.png?itok=qOWlLiIG 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/RUT-5_0.png?itok=qOWlLiIG 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/RUT-5_0.png?itok=4-poNKV3 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”ba3ef505-cdaf-4726-ae70-fc563af4ba18″ data-responsive-image-style=”inline_images” height=”374″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/RUT-5_0-1.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Without a sustained and confirmed break above these moving averages one can’t rally view this as a bullish chart. After all price has gone nowhere since December 2017. Maybe more easy money can change that. That’s at least what buyers here seem to assume. But for now the chart has not confirmed a bullish break above its MA resistance.</p> <p>In addition its underlying volatility index $RVX) structure keeps showing a potential cup and handle suggesting a volatility outbreak is possible, but this also remains unconfirmed.</p> <p>The $WLSH, the broadest index keeps struggling with is January 2018 highs, but also has recaptured its 50MA:</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/WLSH-3_0.png?itok=cMBqG14O” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/WLSH-3_0.png?itok=cMBqG14O”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/WLSH-3_0.png?itok=WbcjLEUO 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/WLSH-3_0.png?itok=WbcjLEUO 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/WLSH-3_0.png?itok=WbcjLEUO 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/WLSH-3_0.png?itok=WbcjLEUO 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/WLSH-3_0.png?itok=WbcjLEUO 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/WLSH-3_0.png?itok=cMBqG14O 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”1fe1bebd-2600-4f37-95e3-89c17a9988d5″ data-responsive-image-style=”inline_images” height=”242″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/WLSH-3_0-1.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>It’s a very tight price range in between these 2 pivots.</p> <p>It may only take one gap up to move above the January 2018 highs again or one gap down to break below the 50MA.</p> <p>Also struggling with its 2018 highs: $SOXX:</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/SOXX-1_0.png?itok=lT0C3qam” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/SOXX-1_0.png?itok=lT0C3qam”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SOXX-1_0.png?itok=aPOcGNRl 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SOXX-1_0.png?itok=aPOcGNRl 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SOXX-1_0.png?itok=aPOcGNRl 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SOXX-1_0.png?itok=aPOcGNRl 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/SOXX-1_0.png?itok=aPOcGNRl 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/SOXX-1_0.png?itok=lT0C3qam 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”d7cabc82-b44d-4d7e-bd2c-6fb725ca5b87″ data-responsive-image-style=”inline_images” height=”242″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/SOXX-1_0-1.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Last week’s rally brought it back to the 2018 highs, but it has since rejected again notably, leaving the earlier 2019 rally to new highs a fake breakout for now.</p> <p>And finally $NYSE:</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/NYSE-3_0.png?itok=klctyM7o” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/NYSE-3_0.png?itok=klctyM7o”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NYSE-3_0.png?itok=RepBDKf- 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NYSE-3_0.png?itok=RepBDKf- 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NYSE-3_0.png?itok=RepBDKf- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NYSE-3_0.png?itok=RepBDKf- 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/NYSE-3_0.png?itok=RepBDKf- 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/NYSE-3_0.png?itok=klctyM7o 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”16c751c0-c7cd-43a4-822b-d789bc07cbd7″ data-responsive-image-style=”inline_images” height=”264″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/NYSE-3_0-1.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>It’s been one of the weakest index charts since the January 2018 highs. Left a big open gap up there (which someday may become a target to fill), but has been making lower highs ever since. First in September 2018, then again in May this year before the latest correction.</p> <p>In process it looked to break above its trend line, but the May correction brought it back below. Now with rate cuts expected $NYSE is right back at the trend line and just above its 50MA, similar to $WLSH in this regard.</p> <p><strong><u>Bottomline: </u>All of these charts have one thing in common: The anticipation of coming rate cuts has brought them all to key technical pivot zones.</strong></p> <p>If price can confirm a move above these pivots bears may be sent on a quick chase into the wilderness, especially if the Fed gives bulls what they want, more bread and games.</p> <p>Yet without a confirmed beak above, or a failed break above, one that does not sustain, bulls may find themselves rejected again, perhaps for a long time.</p> <p>Don’t forget, the Fed cutting rates just 6/7 months after promising rate hikes is not a sign of strength, it’s a sign of a vastly and quickly changing reality.</p> <p>Per Morgan Stanley: “<em>The Morgan Stanley Business Conditions Index collapsed by 32 points in June, the largest one-month decline on record, to a level of 13, a low since Dec 2008.”</em></p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/MS.jpg?itok=o3qCZ7pF” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/MS.jpg?itok=o3qCZ7pF”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/MS.jpg?itok=3_7Xm_JC 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/MS.jpg?itok=3_7Xm_JC 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/MS.jpg?itok=3_7Xm_JC 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/MS.jpg?itok=3_7Xm_JC 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/MS.jpg?itok=3_7Xm_JC 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/MS.jpg?itok=o3qCZ7pF 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”1a4d4f37-8899-40cb-a99f-d210feda4fb4″ data-responsive-image-style=”inline_images” height=”266″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/MS-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>If the Fed cuts here and now it’s not because they are confident even though they will want to project confidence because they must, it’s because they have completely misread the state of the larger economy, just like every economist has in 2019:</p> <blockquote class=”twitter-tweet” data-lang=”en”> <p dir=”ltr” lang=”en” xml:lang=”en” xml:lang=”en”>Hi I’m a professional Wall Street economist with a PhD . Now let me tell you where the 10 year is going. I’m here to help.<br /> h/t <a href=”https://twitter.com/pcordway?ref_src=twsrc%5Etfw”>@pcordway</a> <a href=”https://t.co/8H10Bntu83″>pic.twitter.com/8H10Bntu83</a></p> — Sven Henrich (@NorthmanTrader) <a href=”https://twitter.com/NorthmanTrader/status/1138184175201193984?ref_src=twsrc%5Etfw”>June 10, 2019</a></blockquote> <script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script><p>Everybody was wrong, but everybody is now right to chase stocks into rate cuts?</p> <p>We’ll find out next week when the primary market price discovery mechanism, the Fed, enlightens us with their latest wisdom. In the meantime, watch those curious charts.</p> <p>*  *  *</p> <p><em>For the latest public analysis please visit <a href=”https://northmantrader.com/”>NorthmanTrader</a>. To subscribe to our market products please visit <a href=”https://northmantrader.com/market-services/”>Services</a>.</em></p> Thu, 13 Jun 2019 17:15:00 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/consensus-convergence-cornucopia-curious-charts https://www.zerohedge.com/news/2019-06-13/jeff-gundlach-live-webcast-youtube-university <p>A few days after Jeff Gundlach <a href=”https://www.zerohedge.com/news/2019-06-06/gundlach-closes-his-top-trade-2019-returning-22-just-one-month”>took a 22% profit on his “top trade of 2019″, </a>revealed exactly one month prior, which was a bet on a spike in bond volatility….</p> <blockquote class=”twitter-tweet” data-lang=”en”> <p dir=”ltr” lang=”en” xml:lang=”en” xml:lang=”en”>TLT put/call straddle idea at Sohn up 22% in the month since. Rare instant gratification. If you put it on, taking it off now makes sense.</p> — Jeffrey Gundlach (@TruthGundlach) <a href=”https://twitter.com/TruthGundlach/status/1136433231912325122?ref_src=twsrc%5Etfw”>June 6, 2019</a></blockquote> <script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script><p>… the DoubleLine CEO is holding his latest public webcast. As Bloomberg notes, plenty has changed since Gundlach last spoke to his investors: the U.S.-China tariff face-off has intensified and so has the sense that if it isn’t resolved we will tip into a recession.</p> <p>As usual we will focus on the key slides in his presentation, titled this time “YouTube university.” Readers can log into the call by clicking on the image below (or <a href=”https://event.webcasts.com/starthere.jsp?ei=1220445&tp_key=f0971ac5d7″>click here</a>).</p> <p><a data-image-external-href=”https://event.webcasts.com/starthere.jsp?ei=1220445&tp_key=f0971ac5d7″ data-image-href=”https://event.webcasts.com/starthere.jsp?ei=1220445&tp_key=f0971ac5d7″ data-link-option=”2″ href=”https://event.webcasts.com/starthere.jsp?ei=1220445&tp_key=f0971ac5d7″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/youtube%20university%202019-06-13_16-15-01.jpg?itok=IfGT_eHP 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/youtube%20university%202019-06-13_16-15-01.jpg?itok=IfGT_eHP 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/youtube%20university%202019-06-13_16-15-01.jpg?itok=IfGT_eHP 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/youtube%20university%202019-06-13_16-15-01.jpg?itok=IfGT_eHP 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/youtube%20university%202019-06-13_16-15-01.jpg?itok=IfGT_eHP 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/youtube%20university%202019-06-13_16-15-01.jpg?itok=qXGKk1yr 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”72b75896-3466-4916-8dcb-2dedc9ebbd70″ data-responsive-image-style=”inline_images” height=”356″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/youtube20university202019-06-13_16-15-01-2.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>The presentation begins with Gundlach slamming Deutsche Bank’s imploding stock…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/gund%20stock%20cats.jpg?itok=4wA62jHC” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/gund%20stock%20cats.jpg?itok=4wA62jHC”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20stock%20cats.jpg?itok=lkYe4sWT 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20stock%20cats.jpg?itok=lkYe4sWT 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20stock%20cats.jpg?itok=lkYe4sWT 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20stock%20cats.jpg?itok=lkYe4sWT 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20stock%20cats.jpg?itok=lkYe4sWT 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/gund%20stock%20cats.jpg?itok=4wA62jHC 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”c5646910-07cf-476f-a6be-10184d3a1ecf” data-responsive-image-style=”inline_images” height=”347″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/gund20stock20cats.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>… and the record negative yields in German 10Y bunds…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/german%2010Y%20yield%206.13.jpg?itok=f7D1GgiQ” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/german%2010Y%20yield%206.13.jpg?itok=f7D1GgiQ”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/german%2010Y%20yield%206.13.jpg?itok=RsgMD9x2 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/german%2010Y%20yield%206.13.jpg?itok=RsgMD9x2 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/german%2010Y%20yield%206.13.jpg?itok=RsgMD9x2 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/german%2010Y%20yield%206.13.jpg?itok=RsgMD9x2 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/german%2010Y%20yield%206.13.jpg?itok=RsgMD9x2 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/german%2010Y%20yield%206.13.jpg?itok=f7D1GgiQ 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”6dcff84b-0ee2-46ec-b589-96c9ad5f95fd” data-responsive-image-style=”inline_images” height=”345″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/german2010Y20yield206.13.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>… which among other things reflect collapsing European export orders.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/euro%20area%20pmis.jpg?itok=MQLn_AFM” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/euro%20area%20pmis.jpg?itok=MQLn_AFM”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/euro%20area%20pmis.jpg?itok=ZWol06j- 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/euro%20area%20pmis.jpg?itok=ZWol06j- 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/euro%20area%20pmis.jpg?itok=ZWol06j- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/euro%20area%20pmis.jpg?itok=ZWol06j- 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/euro%20area%20pmis.jpg?itok=ZWol06j- 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/euro%20area%20pmis.jpg?itok=MQLn_AFM 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”75afcd12-1cbf-49a0-8141-69503a8b4efe” data-responsive-image-style=”inline_images” height=”351″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/euro20area20pmis.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>As we have done in the past, Gundlach also brings up South Korea’s market as a canary in the coalmine for the global economy. Needless to say, the chart is not pointing int he right direction.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/korea%20gundlach.jpg?itok=noSeGjUe” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/korea%20gundlach.jpg?itok=noSeGjUe”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/korea%20gundlach.jpg?itok=Ym4ws6Qy 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/korea%20gundlach.jpg?itok=Ym4ws6Qy 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/korea%20gundlach.jpg?itok=Ym4ws6Qy 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/korea%20gundlach.jpg?itok=Ym4ws6Qy 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/korea%20gundlach.jpg?itok=Ym4ws6Qy 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/korea%20gundlach.jpg?itok=noSeGjUe 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”dca70074-b078-498c-a4d9-eabc82982d18″ data-responsive-image-style=”inline_images” height=”341″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/korea20gundlach.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>From there we segue to the US-China trade war, and since China is now an equal to the US in terms of total merchandise, it is “getting complicated” especially as we are now starting to see the effect of tariff wars, warning that people are underestimating the “length and frictions of tariff wars.”</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/global%20merchadnize%20gundlach.jpg?itok=ACQIWP77″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/global%20merchadnize%20gundlach.jpg?itok=ACQIWP77″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/global%20merchadnize%20gundlach.jpg?itok=mBbphdYZ 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/global%20merchadnize%20gundlach.jpg?itok=mBbphdYZ 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/global%20merchadnize%20gundlach.jpg?itok=mBbphdYZ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/global%20merchadnize%20gundlach.jpg?itok=mBbphdYZ 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/global%20merchadnize%20gundlach.jpg?itok=mBbphdYZ 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/global%20merchadnize%20gundlach.jpg?itok=ACQIWP77 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”7800b84c-3a42-471a-b0bd-dcb68a77a35a” data-responsive-image-style=”inline_images” height=”309″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/global20merchadnize20gundlach.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>One thing China does have going for it, according to Gundlach, is the largest number of STEM graduates in the world.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/China%20stem%20grads.jpg?itok=nJo32Rm_” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/China%20stem%20grads.jpg?itok=nJo32Rm_”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/China%20stem%20grads.jpg?itok=P0IFSbc7 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/China%20stem%20grads.jpg?itok=P0IFSbc7 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/China%20stem%20grads.jpg?itok=P0IFSbc7 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/China%20stem%20grads.jpg?itok=P0IFSbc7 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/China%20stem%20grads.jpg?itok=P0IFSbc7 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/China%20stem%20grads.jpg?itok=nJo32Rm_ 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”a9a9727f-90ce-40ae-833b-ce2bb03b3a16″ data-responsive-image-style=”inline_images” height=”331″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/China20stem20grads.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>As an aside, Gundlach says that he is worried “<strong>that it can look like Trump folded on his tariff threat against Mexico and that’ll embolden China to feel like they can play a game of chicken as well.”</strong></p> <p>From there, Gundlach segues into the topic of a recession, which he now warns that “Several indicators suggest a recession could take place within 1 year.”</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/leading%20indicator%20gundlach.jpg?itok=1r1dpNfP” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/leading%20indicator%20gundlach.jpg?itok=1r1dpNfP”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/leading%20indicator%20gundlach.jpg?itok=VQARra4M 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/leading%20indicator%20gundlach.jpg?itok=VQARra4M 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/leading%20indicator%20gundlach.jpg?itok=VQARra4M 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/leading%20indicator%20gundlach.jpg?itok=VQARra4M 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/leading%20indicator%20gundlach.jpg?itok=VQARra4M 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/leading%20indicator%20gundlach.jpg?itok=1r1dpNfP 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”470034b3-b03c-4a2a-86c8-642e5384248b” data-responsive-image-style=”inline_images” height=”333″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/leading20indicator20gundlach.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>He also notes the duration of the current expansion, and that it is on verge to become the longest in history.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/current%20vs%20previous%20estimates.jpg?itok=rJ9u4RhU” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/current%20vs%20previous%20estimates.jpg?itok=rJ9u4RhU”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/current%20vs%20previous%20estimates.jpg?itok=JTxrBtTC 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/current%20vs%20previous%20estimates.jpg?itok=JTxrBtTC 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/current%20vs%20previous%20estimates.jpg?itok=JTxrBtTC 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/current%20vs%20previous%20estimates.jpg?itok=JTxrBtTC 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/current%20vs%20previous%20estimates.jpg?itok=JTxrBtTC 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/current%20vs%20previous%20estimates.jpg?itok=rJ9u4RhU 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”0a6eb523-b903-4878-8d4a-c2d2395b8dd3″ data-responsive-image-style=”inline_images” height=”313″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/current20vs20previous20estimates.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Gundlach’s favorite indicator, the consumer confidence expectations less current conditions spread is near all time lows.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/recession%20gund%201_0.jpg?itok=WS49g4GA” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/recession%20gund%201_0.jpg?itok=WS49g4GA”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/recession%20gund%201_0.jpg?itok=x3F5316q 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/recession%20gund%201_0.jpg?itok=x3F5316q 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/recession%20gund%201_0.jpg?itok=x3F5316q 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/recession%20gund%201_0.jpg?itok=x3F5316q 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/recession%20gund%201_0.jpg?itok=x3F5316q 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/recession%20gund%201_0.jpg?itok=WS49g4GA 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”fee4aa12-49fc-488c-b4af-ea219fa5a4f9″ data-responsive-image-style=”inline_images” height=”336″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/recession20gund201_0.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>And since Gundlach now believes it is “extremely probable” the Fed will cut rates, even as the Fed’s own dots still anticipate only hikes…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=f6ys0day” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=f6ys0day”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=W6LOjwOZ 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=W6LOjwOZ 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=W6LOjwOZ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=W6LOjwOZ 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=W6LOjwOZ 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/fed%20dots%20vs%20market%20odds.jpg?itok=f6ys0day 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”65b46974-005b-452e-a86c-8f8e0b715270″ data-responsive-image-style=”inline_images” height=”340″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/fed20dots20vs20market20odds.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>… he has also revised his recession rate odds, and now sees <strong>a 40%-45% chance of a recession in the next six months, and 65% in the next year.</strong></p> <p>Speaking of the dots, Gundlach says “I can’t imagine what they’re going to do with the dots,” adding that it would be odd if they put a cut in the dot plot and don’t immediately deliver one. He also notes that he has a hard time believing the median 2020 dot will imply a hike.</p> <p>Looking at indicators, Gundlach glosses over the 2s10s which has yet to invert, and instead says that the bull-steepening of the 3m10y yield curve is what should really scare people, as it often happens right before recessions, something <a href=”https://www.zerohedge.com/news/2019-03-26/curve-inversion-bad-its-steepening-after-kills”>else we have discussed extensively</a>.</p> <p>So if the Fed cuts, will it be a 25bps to 50bps initial rate cut: Gundlach reminds us that the last two easing cycles both started with a 50bps cut.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/50%20bp%20cut.jpg?itok=82-rohSL” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/50%20bp%20cut.jpg?itok=82-rohSL”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/50%20bp%20cut.jpg?itok=r3J_JXfU 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/50%20bp%20cut.jpg?itok=r3J_JXfU 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/50%20bp%20cut.jpg?itok=r3J_JXfU 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/50%20bp%20cut.jpg?itok=r3J_JXfU 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/50%20bp%20cut.jpg?itok=r3J_JXfU 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/50%20bp%20cut.jpg?itok=82-rohSL 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”f9d3a639-21a7-424b-aa83-a84e16f79e1b” data-responsive-image-style=”inline_images” height=”331″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/5020bp20cut.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Whatever the answer, don’t look for it during next week’s FOMC meeting where Powell “will try to say as little as possible” as the Fed simply has no idea what will happen next.</p> <p>Still, Gundlach does not expect a rate cut in June, as “you only know with hindsight whether something’s an insurance cut.” He does predict that in September there may be a double, 50bps rate cut.</p> <p>An interesting market observation: Gundlach points out that prior to each of the last 3 recessions, one major market group peaked – first Japan, then Europe, then the EM. <strong>Is it the turn of the US now</strong>?</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/markets%20peaking%20before%20recession.jpg?itok=nGJKwzP9″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/markets%20peaking%20before%20recession.jpg?itok=nGJKwzP9″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/markets%20peaking%20before%20recession.jpg?itok=MbBJe2tu 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/markets%20peaking%20before%20recession.jpg?itok=MbBJe2tu 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/markets%20peaking%20before%20recession.jpg?itok=MbBJe2tu 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/markets%20peaking%20before%20recession.jpg?itok=MbBJe2tu 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/markets%20peaking%20before%20recession.jpg?itok=MbBJe2tu 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/markets%20peaking%20before%20recession.jpg?itok=nGJKwzP9 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”b1a98980-d0b0-406e-a6b6-37af53d381b2″ data-responsive-image-style=”inline_images” height=”334″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/markets20peaking20before20recession.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>From there Gundlach turns to his favorite topic, the US deficit – which he warns that it is consistently understated based on the accounting method one uses, and notes that US government debt to revenue is over 530%.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/us%20govt%20debt%20to%20income.jpg?itok=wcO2z0G4″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/us%20govt%20debt%20to%20income.jpg?itok=wcO2z0G4″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/us%20govt%20debt%20to%20income.jpg?itok=TPWrmH9p 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/us%20govt%20debt%20to%20income.jpg?itok=TPWrmH9p 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/us%20govt%20debt%20to%20income.jpg?itok=TPWrmH9p 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/us%20govt%20debt%20to%20income.jpg?itok=TPWrmH9p 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/us%20govt%20debt%20to%20income.jpg?itok=TPWrmH9p 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/us%20govt%20debt%20to%20income.jpg?itok=wcO2z0G4 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”81311f94-c9be-47a4-9d50-975933f83c9a” data-responsive-image-style=”inline_images” height=”343″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/us20govt20debt20to20income.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Naturally, Gundlach could not possibly avoid mentioning touch other most sensitive topic – the soaring US debt interest as % of GDP, which is expected to hit an all time high despite near record low rates.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/Gundlach%20interest%20costs.jpg?itok=HXtiJrRM” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/Gundlach%20interest%20costs.jpg?itok=HXtiJrRM”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Gundlach%20interest%20costs.jpg?itok=iWMPIHBN 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Gundlach%20interest%20costs.jpg?itok=iWMPIHBN 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Gundlach%20interest%20costs.jpg?itok=iWMPIHBN 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Gundlach%20interest%20costs.jpg?itok=iWMPIHBN 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Gundlach%20interest%20costs.jpg?itok=iWMPIHBN 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Gundlach%20interest%20costs.jpg?itok=HXtiJrRM 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”0b34f441-9d67-4662-a2d5-7aafd335da11″ data-responsive-image-style=”inline_images” height=”321″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/Gundlach20interest20costs.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>And then there is US entitlement and mandatory spending, which at last check was over $2.5 trillion.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/entitlement%20spending.jpg?itok=_ixlxeY5″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/entitlement%20spending.jpg?itok=_ixlxeY5″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/entitlement%20spending.jpg?itok=HhasHmG- 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/entitlement%20spending.jpg?itok=HhasHmG- 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/entitlement%20spending.jpg?itok=HhasHmG- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/entitlement%20spending.jpg?itok=HhasHmG- 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/entitlement%20spending.jpg?itok=HhasHmG- 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/entitlement%20spending.jpg?itok=_ixlxeY5 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”125af2c3-958a-4019-85e1-aba4aaebb833″ data-responsive-image-style=”inline_images” height=”340″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/entitlement20spending.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Stepping away from the woeful state of the US, Gundlach then goes back to his favorite market indicators, among which the copper/gold ratio and the 10Y, which suggest all is in alignment, and are where they should be…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/gund%20copper%20gold%202.jpg?itok=aVHhzlGz” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/gund%20copper%20gold%202.jpg?itok=aVHhzlGz”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20copper%20gold%202.jpg?itok=uXSF6XzI 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20copper%20gold%202.jpg?itok=uXSF6XzI 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20copper%20gold%202.jpg?itok=uXSF6XzI 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20copper%20gold%202.jpg?itok=uXSF6XzI 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/gund%20copper%20gold%202.jpg?itok=uXSF6XzI 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/gund%20copper%20gold%202.jpg?itok=aVHhzlGz 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”43abd24d-f812-4232-8e00-8441208fe199″ data-responsive-image-style=”inline_images” height=”333″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/gund20copper20gold202.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>… and the same goes for Gundlach’s preferred treasury “fair value” indicator where the 10Y yield is compared to the average of the US nominal GDP and the German 10Y (which is negative). Here too, there are no surprises.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=a-tdSyEg” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=a-tdSyEg”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=c_9Nt0_w 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=c_9Nt0_w 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=c_9Nt0_w 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=c_9Nt0_w 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=c_9Nt0_w 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/10Y%20TSY%20vs%20avg%20german.jpg?itok=a-tdSyEg 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”1ecc97e9-50dc-490d-9ad4-43b14986e142″ data-responsive-image-style=”inline_images” height=”335″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/10Y20TSY20vs20avg20german.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Gundlach also notes the gradual decline in bids-to-cover in 10Y Treasury auctions, but objects to the narrative that foreigners are inverting the yield curve, as “no one’s doing that.” Specifically, as he showed in a chart, foreign holdings are concentrated far more at the front of the curve, so “<strong>they’re helping to steepen it.” </strong>In other words, <strong>if the Fed is worried about the inverted yield curve, it should just dump its own holdings.</strong></p> <p>His market punchline: so far 2019 has been the opposite of 2018, as gold, bitcoin, stocks, bonds are all making money.</p> <p><em>Finally, some select Q&A:</em></p> <ul><li>On his famous bond yield prediction made in 2016: If the Fed wasn’t manipulating bond yields, the 10-year would go to 6% by 2021.</li> <li>On rates: “The Fed is strongly signaling they’re open to the idea of manipulating rates down.”</li> <li>On rate cuts: “July rate cut is a pretty good possibility, and a cut by September is basically a lock… The start of a rate-cut cycle would be the Fed capitulating to the bond market, not Trump.”</li> <li>On Joe Biden: “We won’t learn any new information on “Jurassic Joe”- he’s run for president for 32 years. I don’t think he will be the Democratic nominee”</li> <li>On the price of oil: “It’s a demand issue; it’s suggestive that the global growth slowdown is real.”</li> <li>On bitcoin vs gold: “I’d rather own gold than bitcoin. I’m just interest in bitcoin.”</li> </ul> Thu, 13 Jun 2019 16:58:30 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/jeff-gundlach-live-webcast-youtube-university https://www.zerohedge.com/news/2019-06-13/jordan-peterson-close-launching-anti-censorship-social-media-platform-0 <p>Psychologist and author Jordan B. Peterson announced this week that progress on <strong><em>Thinkspot</em>, his subscription-based “anti-censorship” social media platform,</strong> has the project closer to launch.</p> <p>Peterson and his team are beta testing the product, which he calls “an intellectual playground for censorship-free discourse”, according to the <a href=”https://www.washingtontimes.com/news/2019/jun/12/jordan-b-peterson-launching-anti-censorship-platfo/”>Washington Times</a>. It comes at a time when social media sites like Facebook, YouTube, Twitter and Pinterest have been accused of arbitrarily enforcing vague terms of service and overreaching in their left-wing biased policing of their respective platforms.</p> <p>“Announcing Thinkspot: a new online communication platform (as promised post-Patreon),” Peterson wrote Wednesday on Facebook.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/JP.png?itok=4s5ZlAnV” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/JP.png?itok=4s5ZlAnV”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/JP.png?itok=pnze2bmY 1x” media=”all and (min-width: 1280px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/JP.png?itok=pnze2bmY 1x” media=”all and (min-width: 480px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/JP.png?itok=pnze2bmY 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/JP.png?itok=pnze2bmY 2x” media=”all and (min-width: 1024px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/JP.png?itok=pnze2bmY 1x” media=”all and (min-width: 768px)” type=”image/png”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/JP.png?itok=4s5ZlAnV 1x” type=”image/png”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”ae5327e6-24e3-4240-a1f1-458c9d05d87b” data-responsive-image-style=”inline_images” height=”289″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/JP-2.png” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Recall, just days ago, we <a href=”https://www.zerohedge.com/news/2019-06-11/pinterest-bans-zero-hedge-adding-porn-domain-block-list-used-target-conservatives”>reported</a> that documents leaked to <u><em><a href=”https://www.projectveritas.com/2019/06/11/tech-insider-blows-whistle-on-how-pinterest-listed-top-pro-life-site-as-porn-bible-verses-censored/”><strong>Project Veritas</strong></a></em></u> by a Pinterest insider reveal that the San Francisco-based social media company has blocked links from Zero Hedge and several conservative or religious-based websites <strong>- </strong>adding them to a ‘porn domain block list’ originally intended to keep the platform free of sexually explicit material.</p> <p>Peterson began to take a stand against social media when YouTuber Carl Benjamin, aka Sargon of Akkad, was removed from Patreon in December 2018. Benjamin’s “infraction” came as a result of him actually mocking his racist critics on another platform by using a racial epithet.</p> <p>On the June 9 Joe Rogan podcast, Peterson describes platform by saying: <em><strong>“Once you’re on our platform we won’t take you down unless we’re ordered to by a US court of law.”</strong></em></p> <p>Peterson’s fans were ecstatic, leaving comments like:</p> <ul><li> <p>This is fantastic news and a testament of [sic] the power of the free market to balance things out! Amazing, and truly looking forward to signing up to Thinkspot!”</p> </li> <li> <p>“This is great news! Alternative free speech platforms are the only way forward so we no longer have to trudge through the mires of increasing corporate censorship.”</p> </li> <li> <p>“I can already see the media hit pieces lining up and the payment processing companies putting together their press releases.”</p> </li> <li> <p>“This is what the social scene on the internet needs. Some strict competition to the usual social sites and their censorship garbage. And if it’s backed and headed up by <a href=”https://www.washingtontimes.com/topics/jordan-b-peterson/”>Peterson</a> makes it all the more engaging.”</p> </li> </ul><p>We will certainly keep an eye out for when the product is launched.</p> Thu, 13 Jun 2019 16:54:15 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/jordan-peterson-close-launching-anti-censorship-social-media-platform-0 https://www.zerohedge.com/news/2019-06-13/us-deaths-despair-hit-record-high-how-bad-will-things-get-when-society-starts <p><a href=”http://theeconomiccollapseblog.com/archives/deaths-of-despair-in-the-u-s-hit-record-high-so-how-bad-will-things-get-when-society-starts-to-completely-collapse”><em>Authored by Michael Snyder via The Economic Collapse blog,</em></a></p> <p>According to a shocking new report from <a href=”https://www.commonwealthfund.org/”>the Commonwealth Fund</a>, <strong>the suicide rate in the United States is the highest that it has ever been before. </strong> Sadly, the same thing can be said about the death rates from drug overdoses and alcohol.  All three death rates are at an all-time record high, and yet our society is still fairly stable at the moment.  So if we are seeing this many “deaths of despair” right now, <strong>what in the world are things going to look like when our society really begins to start crumbling? </strong></p> <p>Today, Americans have literally thousands of different ways to entertain themselves, and yet we have never been unhappier. </p> <p><em><strong>One out of every six Americans is taking psychiatric drugs, we are currently dealing with <a href=”http://themostimportantnews.com/archives/the-skid-is-everywhere-and-we-just-received-more-confirmation-that-the-worst-is-yet-to-come”>“the worst drug crisis in American history”</a>, and people are killing themselves in record numbers. </strong></em> Nobody likes to be told that they are a failure, but it certainly appears that our nation has been on an extremely self-destructive path for a very long time.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=iqIh_tpX” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=iqIh_tpX”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=hF5dSDZR 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=hF5dSDZR 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=hF5dSDZR 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=hF5dSDZR 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=hF5dSDZR 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Hand-Depression-Despair-Public-Domain.jpg?itok=iqIh_tpX 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”d05d2976-64c7-4b9f-b654-d51342b0289a” data-responsive-image-style=”inline_images” height=”332″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/Hand-Depression-Despair-Public-Domain-2.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Even though “deaths of despair” have reached record levels, the researchers at the Commonwealth Fund found that <strong>there are major regional differences. </strong> The following comes from <a href=”https://www.nbcnews.com/health/health-news/u-s-death-rates-suicides-alcohol-drug-overdoses-reach-all-n1016216″>NBC News</a>…</p> <blockquote> <p>Rates of deaths from suicides, drug overdoses and alcohol have reached an all-time high in the United States, but some states have been hit far harder than others, according to a report released Wednesday by the Commonwealth Fund.</p> </blockquote> <p>As far as drug overdose deaths are concerned, researchers discovered that the states with <strong>the highest death rates <a href=”https://www.nbcnews.com/health/health-news/u-s-death-rates-suicides-alcohol-drug-overdoses-reach-all-n1016216″>were all in northern Appalachia</a>…</strong></p> <blockquote> <p>“When we look at what’s going on in mid-Atlantic states — West Virginia, Ohio, Pennsylvania — those are the states that have the highest rates of drug overdose deaths in the country,” David Radley, a senior scientist for the Commonwealth Fund, said. Rates in those states are at least double the national average of fatal drug overdose rates.</p> <p>West Virginia had the highest drug overdose death rates, fueled mostly by the <a href=”https://www.nbcnews.com/health/health-news/teens-still-commonly-prescribed-opioids-study-finds-n1009786″>opioid epidemic</a>. What’s more, those rates rose by 450 percent from 2005 to 2017, according to the report.</p> </blockquote> <p><strong>In addition, the New England states also have extremely high drug overdose death rates.</strong></p> <p>Nationally, the number of Americans that die from an opioid overdose each year now exceeds the number that die in car accidents.</p> <p>Talk about a depressing fact.</p> <p>Meanwhile, <strong>for suicide and alcohol deaths it is a completely different story. </strong> In both cases, researchers found that the highest rates <a href=”https://www.nbcnews.com/health/health-news/u-s-death-rates-suicides-alcohol-drug-overdoses-reach-all-n1016216″>are out west</a>…</p> <blockquote> <p>Death rates from suicide and <a href=”https://www.nbcnews.com/health/health-news/little-1-drink-day-linked-hypertension-new-study-finds-n980726″>alcohol </a>also showed regional disparities. People died at higher rates by suicide or from alcohol than from drugs in Montana, Nebraska, the Dakotas, Oregon and Wyoming.</p> </blockquote> <p>In particular, the suicide rate is disturbingly high in rural western areas, and this agrees with a previously published CDC study which discovered that the suicide rate in rural areas is actually <a href=”https://www.cnn.com/2018/08/21/health/rural-suicides-among-farmers/index.html”>45 percent higher</a> than in “large urban areas”…</p> <blockquote> <p>The suicide rate in rural America is 45% greater than in large urban areas, according to <a href=”https://www.cdc.gov/mmwr/volumes/66/ss/ss6618a1.htm#F1_down”>a study released last fall by the US Centers for Disease Control and Prevention</a>. A more recent CDC report said <a href=”https://www.cdc.gov/nchs/pressroom/sosmap/suicide-mortality/suicide.htm”>Montana’s suicide rate leads the nation</a>, coming in at nearly twice the national average. A third long-touted CDC study, currently <a href=”https://www.cdc.gov/mmwr/volumes/67/wr/mm6725a7.htm?s_cid=mm6725a7_w”>under review</a>, listed farming in the occupational group, along with fishing and forestry, with the highest rate of suicide deaths.</p> <p>That <a href=”https://www.cdc.gov/mmwr/volumes/65/wr/mm6525a1.htm?s_cid=mm6525a1_w”>occupational study</a> was based on 2012 data, when farming was strong and approaching its peak in 2013, says Jennifer Fahy, communications director for the nonprofit <a href=”https://www.farmaid.org/”>Farm Aid</a>. Farmers’ net income has fallen 50% since 2013 and is expected to drop to a 12-year low this year, the <a href=”https://www.ers.usda.gov/topics/farm-economy/farm-sector-income-finances/farm-sector-income-forecast/”>US Department of Agriculture reports</a>.</p> </blockquote> <p><strong>Sadly, U.S. farmers are currently having <a href=”http://themostimportantnews.com/archives/u-s-farms-are-facing-their-worst-crisis-in-a-generation-and-now-here-comes-another-monster-storm”>their worst year in a generation</a>, and they desperately need our support right now.</strong></p> <p>Overall, the new report from the Commonwealth Fund found that since 2005 drug overdose deaths in the United States are up 115 percent, alcohol deaths are up 37 percent, and suicides are up 28 percent.</p> <p><strong>Thanks in large part to those numbers, life expectancy in the United States has now fallen <a href=”https://www.dailymail.co.uk/health/article-7133247/US-deaths-despair-surge-highest-rates-2005-report-reveals.html”>for three years in a row</a>.</strong></p> <p>Despite all of our advanced technology, and despite our massively bloated debt-fueled standard of living, many Americans are desperately unhappy.  In an attempt to “cure” our unhappiness, many of us have turned to the medical system for answers, and as a result more Americans are on antidepressants than ever before.  In fact, <a href=”https://www.nbcnews.com/health/health-news/one-6-americans-take-antidepressants-other-psychiatric-drugs-n695141″>NBC News has reported</a> that one out of every six Americans is currently on at least one psychiatric drug…</p> <blockquote> <p>One in six Americans take some kind of psychiatric drugs — mostly antidepressants, researchers reported Monday.</p> <p>They also found that twice as many white people take those drugs as do African-Americans or other minorities, and fewer than 5 percent of Asian-Americans do. And most people who take them are taking them long-term, Thomas Moore of the Institute for Safe Medication Practices in Alexandria, Virginia and colleagues found.</p> </blockquote> <p>But no matter how powerful a drug is, it can never give you hope.  One of the reasons why I wrote <a href=”https://amzn.to/2IBBKAv”>“Living A Life That Really Matters”</a> was to give people hope.  Life really can be filled with meaning and purpose, but most Americans are searching for those things in all the wrong places.</p> <p>Today, we like to think that our approach to life is superior to the way that previous generations of Americans did things, but the numbers say that they were actually far happier than we are.</p> <p>Could it be possible that they were right and we are wrong?</p> <p><strong>If we stay on the current path that we are on as a nation, it isn’t going to lead anywhere good.  Perhaps we should change our ways while we still can.</strong></p> Thu, 13 Jun 2019 16:35:13 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/us-deaths-despair-hit-record-high-how-bad-will-things-get-when-society-starts https://www.zerohedge.com/news/2019-06-13/trump-says-sarah-sanders-leave-white-house-done-incredible-job <p>Having faced the fake news day in and day out (though the usual press briefings have become a thing of the past), it would appear Sarah Huckabee Sanders has finally had enough.</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_13-16-46.jpg?itok=Z932L29P” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_13-16-46.jpg?itok=Z932L29P”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-16-46.jpg?itok=E8LICSMj 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-16-46.jpg?itok=E8LICSMj 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-16-46.jpg?itok=E8LICSMj 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-16-46.jpg?itok=E8LICSMj 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-16-46.jpg?itok=E8LICSMj 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_13-16-46.jpg?itok=Z932L29P 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”9e69a598-b171-47b8-a64d-4b744e77c77d” data-responsive-image-style=”inline_images” height=”326″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_13-16-46-2.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>President Trump tweeted this afternoon that <em>”After 3 1/2 years, our wonderful Sarah Huckabee Sanders will be leaving the White House at the end of the month and going home to the Great State of Arkansas.”</em></p> <p>Adding that he<em><strong> “hopes she decides to run for Governor of Arkansas – she would be fantastic.”</strong></em></p> <blockquote class=”twitter-tweet” data-lang=”en”> <p dir=”ltr” lang=”en” xml:lang=”en” xml:lang=”en”>After 3 1/2 years, our wonderful Sarah Huckabee Sanders will be leaving the White House at the end of the month and going home to the Great State of Arkansas….</p> — Donald J. Trump (@realDonaldTrump) <a href=”https://twitter.com/realDonaldTrump/status/1139263781144596486?ref_src=twsrc%5Etfw”>June 13, 2019</a></blockquote> <script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script><blockquote class=”twitter-tweet” data-conversation=”none” data-lang=”en”> <p dir=”ltr” lang=”en” xml:lang=”en” xml:lang=”en”>….She is a very special person with extraordinary talents, who has done an incredible job! I hope she decides to run for Governor of Arkansas – she would be fantastic. Sarah, thank you for a job well done!</p> — Donald J. Trump (@realDonaldTrump) <a href=”https://twitter.com/realDonaldTrump/status/1139263782142787585?ref_src=twsrc%5Etfw”>June 13, 2019</a></blockquote> <script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script><p>Sanders succeeded Sean Spicer as press secretary at the White House in July 2017.</p> <p><a href=”https://www.cnn.com/2019/06/13/politics/sarah-sanders-white-house-leaving/index.html”>CNN reports</a> that<strong> in private conversations in recent weeks, Sanders has floated running for governor in her home state of Arkansas, </strong>according to two people familiar with the talks. Arkansas Gov. Asa Hutchinson was re-elected just last year, so unless he steps down early – or is appointed to something – the governor’s office in Little Rock isn’t open until January 2023.</p> <p>She has told colleagues and friends that she <strong>thinks running for office would be a good next move for her</strong>, instead of taking a television job upon her departure.</p> <p>Although some on social media have grander ideas…</p> <blockquote class=”twitter-tweet” data-conversation=”none” data-cards=”hidden” data-partner=”tweetdeck”><p lang=”en” dir=”ltr” xml:lang=”en” xml:lang=”en”>Sarah Sanders for President 2032</p>— kevin baird (@kevinba94935576) <a href=”https://twitter.com/kevinba94935576/status/1139267496274477057?ref_src=twsrc%5Etfw”>June 13, 2019</a></blockquote> <p>No news yet as to who will be her replacement. Hope Hicks?</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_13-17-42.jpg?itok=qBsAdTvt” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_13-17-42.jpg?itok=qBsAdTvt”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-17-42.jpg?itok=g0VQxut3 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-17-42.jpg?itok=g0VQxut3 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-17-42.jpg?itok=g0VQxut3 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-17-42.jpg?itok=g0VQxut3 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-17-42.jpg?itok=g0VQxut3 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_13-17-42.jpg?itok=qBsAdTvt 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”dd81e1db-480d-4308-aace-b1baccdfc9da” data-responsive-image-style=”inline_images” height=”351″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_13-17-42-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> Thu, 13 Jun 2019 16:18:07 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/trump-says-sarah-sanders-leave-white-house-done-incredible-job https://www.zerohedge.com/news/2019-06-13/traders-buy-stocks-bonds-bitcoin-oil-gold-after-tanker-attacks <p>What do you do when two tankers explode in the Straits of Hormuz? You buy stocks, sell the VIX, and dump the dollar silly!!</p> <p><iframe allow=”accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture” allowfullscreen=”” frameborder=”0″ height=”315″ src=”https://www.youtube.com/embed/ilcRS5eUpwk” width=”560″></iframe></p> <p> </p> <p>Early weakness was erased ahead of the lunch break in China but the buying spree ended in the afternoon session…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfmF75C.jpg?itok=my40GaOR” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfmF75C.jpg?itok=my40GaOR”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmF75C.jpg?itok=wByLJNio 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmF75C.jpg?itok=wByLJNio 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmF75C.jpg?itok=wByLJNio 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmF75C.jpg?itok=wByLJNio 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmF75C.jpg?itok=wByLJNio 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmF75C.jpg?itok=my40GaOR 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”02a03562-d9d6-481d-aea8-1c9e9bd22c8c” data-responsive-image-style=”inline_images” height=”294″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfmF75C-2.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>European markets bounced early but drifted lower for the rest of the day…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm8F3F.jpg?itok=C2pkmdap” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm8F3F.jpg?itok=C2pkmdap”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8F3F.jpg?itok=vEdd72YN 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8F3F.jpg?itok=vEdd72YN 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8F3F.jpg?itok=vEdd72YN 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8F3F.jpg?itok=vEdd72YN 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8F3F.jpg?itok=vEdd72YN 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm8F3F.jpg?itok=C2pkmdap 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”a370dc09-0279-405e-9d30-54f0f3abbf31″ data-responsive-image-style=”inline_images” height=”263″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm8F3F-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>US Equity futures shot higher on news that two tankers had exploded in the Straits of Hormuz…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_12-45-46.jpg?itok=tdD7u39B” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_12-45-46.jpg?itok=tdD7u39B”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-45-46.jpg?itok=RWbMDG04 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-45-46.jpg?itok=RWbMDG04 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-45-46.jpg?itok=RWbMDG04 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-45-46.jpg?itok=RWbMDG04 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-45-46.jpg?itok=RWbMDG04 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_12-45-46.jpg?itok=tdD7u39B 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”712d9cdb-da46-45c1-ba57-a3fab246e9e1″ data-responsive-image-style=”inline_images” height=”291″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_12-45-46-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>While The Dow and S&P barely clung to the gains (until the late-day panic-buying spree), Small Caps and Trannies outperformed…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_13-00-40.jpg?itok=hqf9k7l3″ data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_13-00-40.jpg?itok=hqf9k7l3″><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-00-40.jpg?itok=afz6lBAQ 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-00-40.jpg?itok=afz6lBAQ 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-00-40.jpg?itok=afz6lBAQ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-00-40.jpg?itok=afz6lBAQ 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_13-00-40.jpg?itok=afz6lBAQ 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_13-00-40.jpg?itok=hqf9k7l3 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”11c0528b-660c-443b-9112-92f027f211e2″ data-responsive-image-style=”inline_images” height=”267″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_13-00-40-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>Thanks to yet another short-squeeze at the open…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm717A.jpg?itok=o0e656R_” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm717A.jpg?itok=o0e656R_”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm717A.jpg?itok=xqhjeCb5 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm717A.jpg?itok=xqhjeCb5 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm717A.jpg?itok=xqhjeCb5 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm717A.jpg?itok=xqhjeCb5 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm717A.jpg?itok=xqhjeCb5 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm717A.jpg?itok=o0e656R_ 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”a1c6cdf4-1f45-4280-85a7-0f89523cb488″ data-responsive-image-style=”inline_images” height=”262″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm717A-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>Nasdaq unable to get back above its 50DMA…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_12-43-22.jpg?itok=JnD-usFg” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_12-43-22.jpg?itok=JnD-usFg”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-22.jpg?itok=Zj76nQWA 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-22.jpg?itok=Zj76nQWA 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-22.jpg?itok=Zj76nQWA 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-22.jpg?itok=Zj76nQWA 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-22.jpg?itok=Zj76nQWA 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_12-43-22.jpg?itok=JnD-usFg 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”ef861b07-4c4d-4a4a-a4c4-8affee243303″ data-responsive-image-style=”inline_images” height=”278″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_12-43-22-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>The Dow found support above its 50DMA once again…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_12-43-43.jpg?itok=7u6Rg3Ya” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_12-43-43.jpg?itok=7u6Rg3Ya”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-43.jpg?itok=a9UyUOZ5 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-43.jpg?itok=a9UyUOZ5 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-43.jpg?itok=a9UyUOZ5 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-43.jpg?itok=a9UyUOZ5 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-43-43.jpg?itok=a9UyUOZ5 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_12-43-43.jpg?itok=7u6Rg3Ya 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”6eff8595-40af-4526-b745-b3a2e6673242″ data-responsive-image-style=”inline_images” height=”249″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_12-43-43-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>Treasuries were unsurprisingly bid on the tanker attacks (long-end underperformed again however)…10Y and 30Y are the only parts of the curve that remain higher in yield on the week…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm9DD7.jpg?itok=6xVVJAEC” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm9DD7.jpg?itok=6xVVJAEC”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9DD7.jpg?itok=prfTJV8e 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9DD7.jpg?itok=prfTJV8e 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9DD7.jpg?itok=prfTJV8e 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9DD7.jpg?itok=prfTJV8e 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9DD7.jpg?itok=prfTJV8e 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm9DD7.jpg?itok=6xVVJAEC 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”958c034c-3b16-43c7-ba70-243ad200a577″ data-responsive-image-style=”inline_images” height=”260″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm9DD7-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>10Y Yields back at pre-payrolls lows…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm9961.jpg?itok=IC9O2N1q” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm9961.jpg?itok=IC9O2N1q”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9961.jpg?itok=t5MbqPCO 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9961.jpg?itok=t5MbqPCO 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9961.jpg?itok=t5MbqPCO 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9961.jpg?itok=t5MbqPCO 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9961.jpg?itok=t5MbqPCO 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm9961.jpg?itok=IC9O2N1q 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”aeaba054-68b6-498a-8c62-0498dc470f34″ data-responsive-image-style=”inline_images” height=”263″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm9961-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>The modest curve steepening continues but 3,10Y remains inverted for the 16th day in a row…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm91F6.jpg?itok=jec_xknZ” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm91F6.jpg?itok=jec_xknZ”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm91F6.jpg?itok=BU7rMA46 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm91F6.jpg?itok=BU7rMA46 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm91F6.jpg?itok=BU7rMA46 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm91F6.jpg?itok=BU7rMA46 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm91F6.jpg?itok=BU7rMA46 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm91F6.jpg?itok=jec_xknZ 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”36b3086f-fcd6-42e2-b37b-d1c3643948fb” data-responsive-image-style=”inline_images” height=”260″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm91F6-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>While the dollar was relatively quiet, it ended lower as any suggestion of it being a safe-haven amid the tanker attacks was dismissed…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm8028.jpg?itok=amm0bPGi” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm8028.jpg?itok=amm0bPGi”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8028.jpg?itok=SZJPLYqY 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8028.jpg?itok=SZJPLYqY 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8028.jpg?itok=SZJPLYqY 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8028.jpg?itok=SZJPLYqY 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm8028.jpg?itok=SZJPLYqY 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm8028.jpg?itok=amm0bPGi 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”da0fc268-0c4a-4d28-9994-81b8c038f589″ data-responsive-image-style=”inline_images” height=”262″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm8028-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>DXY hovering at some key technical levels…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm9079_0.jpg?itok=hqrtBnDJ” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm9079_0.jpg?itok=hqrtBnDJ”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9079_0.jpg?itok=pBvv_BzU 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9079_0.jpg?itok=pBvv_BzU 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9079_0.jpg?itok=pBvv_BzU 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9079_0.jpg?itok=pBvv_BzU 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9079_0.jpg?itok=pBvv_BzU 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm9079_0.jpg?itok=hqrtBnDJ 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”3d0b0338-9b43-4e3c-ab3d-4485982df758″ data-responsive-image-style=”inline_images” height=”263″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm9079_0-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>Offshore yuan (and the fix)remain in a stubbornly well-managed range…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm2919.jpg?itok=kdLintGV” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm2919.jpg?itok=kdLintGV”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2919.jpg?itok=TZBgb1nS 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2919.jpg?itok=TZBgb1nS 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2919.jpg?itok=TZBgb1nS 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2919.jpg?itok=TZBgb1nS 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2919.jpg?itok=TZBgb1nS 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm2919.jpg?itok=kdLintGV 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”736c824c-a4f6-4124-aae0-aea885110bb5″ data-responsive-image-style=”inline_images” height=”265″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm2919-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>Bitcoin was also bid on the tanker attack…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm9A83.jpg?itok=PQhICInl” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm9A83.jpg?itok=PQhICInl”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9A83.jpg?itok=6KWoOaKx 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9A83.jpg?itok=6KWoOaKx 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9A83.jpg?itok=6KWoOaKx 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9A83.jpg?itok=6KWoOaKx 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm9A83.jpg?itok=6KWoOaKx 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm9A83.jpg?itok=PQhICInl 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”4670c50f-c79b-4224-bde8-af20f725e93c” data-responsive-image-style=”inline_images” height=”262″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm9A83-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>Commodities were up across the board led by oil as would be expected…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfmDCFE.jpg?itok=BlbabxpY” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfmDCFE.jpg?itok=BlbabxpY”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmDCFE.jpg?itok=7cBGWlG- 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmDCFE.jpg?itok=7cBGWlG- 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmDCFE.jpg?itok=7cBGWlG- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmDCFE.jpg?itok=7cBGWlG- 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmDCFE.jpg?itok=7cBGWlG- 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmDCFE.jpg?itok=BlbabxpY 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”701b6b23-d892-410b-b3be-039ec5427c56″ data-responsive-image-style=”inline_images” height=”259″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfmDCFE-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>But we do note that WTI only managed a modest $1-2 rise on the back of the tanker attacks…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_12-01-09.jpg?itok=ocO4ApYr” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_12-01-09.jpg?itok=ocO4ApYr”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-01-09.jpg?itok=DNg_7PoX 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-01-09.jpg?itok=DNg_7PoX 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-01-09.jpg?itok=DNg_7PoX 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-01-09.jpg?itok=DNg_7PoX 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_12-01-09.jpg?itok=DNg_7PoX 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_12-01-09.jpg?itok=ocO4ApYr 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”2cc280a2-f00a-48f3-9331-26e3c2297a3f” data-responsive-image-style=”inline_images” height=”275″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_12-01-09-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>NOTE – even the spike caused by Pompeo’s claims was sold.</p> <p>Gold was bid on safe-haven basis (trying to make it 4 weeks in a row higher)…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/2019-06-13_11-46-43.jpg?itok=iIRAJQPU” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/2019-06-13_11-46-43.jpg?itok=iIRAJQPU”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_11-46-43.jpg?itok=uuhZhsTx 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_11-46-43.jpg?itok=uuhZhsTx 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_11-46-43.jpg?itok=uuhZhsTx 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_11-46-43.jpg?itok=uuhZhsTx 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-06-13_11-46-43.jpg?itok=uuhZhsTx 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-06-13_11-46-43.jpg?itok=iIRAJQPU 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”fa729e3e-3d27-4ba1-b113-aee69a75bb08″ data-responsive-image-style=”inline_images” height=”275″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/2019-06-13_11-46-43-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>Once again testing up to that $1350 Maginot Line after Paul Tudor Jones pitched the precious metal as his best trade of the next two years</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfmE356.jpg?itok=4c61Ocox” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfmE356.jpg?itok=4c61Ocox”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmE356.jpg?itok=UhXe5PRC 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmE356.jpg?itok=UhXe5PRC 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmE356.jpg?itok=UhXe5PRC 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmE356.jpg?itok=UhXe5PRC 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfmE356.jpg?itok=UhXe5PRC 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfmE356.jpg?itok=4c61Ocox 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”74113f4c-8985-4061-a083-b4a1d32bcb73″ data-responsive-image-style=”inline_images” height=”263″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfmE356-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p>And Gold in Yuan is back at its highest since April 2013…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm2E0.jpg?itok=PjTZACgz” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm2E0.jpg?itok=PjTZACgz”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2E0.jpg?itok=ss0KLoBM 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2E0.jpg?itok=ss0KLoBM 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2E0.jpg?itok=ss0KLoBM 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2E0.jpg?itok=ss0KLoBM 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm2E0.jpg?itok=ss0KLoBM 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm2E0.jpg?itok=PjTZACgz 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”d36b2981-d888-461d-9cfa-fcc38b20017b” data-responsive-image-style=”inline_images” height=”261″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm2E0-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p> </p> <p> </p> <p>Finally, the chaos in the world is having some serious effects as a funding crisis in Hong Kong (i.e. people demanding liquidity over and above the banks’ ability to deliver) as riots continue has inverted the HIBOR curve for the first time since Lehman…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm3212.jpg?itok=M-1Rlyfd” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm3212.jpg?itok=M-1Rlyfd”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm3212.jpg?itok=FrOSuszB 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm3212.jpg?itok=FrOSuszB 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm3212.jpg?itok=FrOSuszB 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm3212.jpg?itok=FrOSuszB 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm3212.jpg?itok=FrOSuszB 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm3212.jpg?itok=M-1Rlyfd 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”ab5c34c0-f9cf-442c-9a1b-70a91142fb30″ data-responsive-image-style=”inline_images” height=”241″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm3212-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>And so much for education – college-graduates are the most psyched about the economy since the peak of the DotCom boom…</p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/bfm5302.jpg?itok=L-oahdqg” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/bfm5302.jpg?itok=L-oahdqg”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5302.jpg?itok=uBobZxH- 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5302.jpg?itok=uBobZxH- 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5302.jpg?itok=uBobZxH- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5302.jpg?itok=uBobZxH- 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/bfm5302.jpg?itok=uBobZxH- 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm5302.jpg?itok=L-oahdqg 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”c37234eb-72c1-456e-82d5-1c0ebd73b63b” data-responsive-image-style=”inline_images” height=”239″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/bfm5302-1.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>How’d that work out for ya?</p> Thu, 13 Jun 2019 16:01:46 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/traders-buy-stocks-bonds-bitcoin-oil-gold-after-tanker-attacks https://www.zerohedge.com/news/2019-06-13/us-teen-flees-avoid-student-loan-repayment-i-had-escape-debtors-prison <p><a href=”https://www.shtfplan.com/headline-news/u-s-teen-flees-to-avoid-student-loan-repayment-i-had-to-escape-this-debtors-prison_06122019″><em>Authored by Mac Slavo via SHTFplan.com,</em></a></p> <p>An American teenager fled the country in 2011 to avoid repaying student loans he took out to complete a college education.  <strong>This isn’t the first time this has happened, and it certainly won’t be the last.</strong></p> <p><a data-image-external-href=”” data-image-href=”/s3/files/inline-images/debt-460×307.jpg?itok=aPctJhuR” data-link-option=”0″ href=”https://www.zerohedge.com/s3/files/inline-images/debt-460×307.jpg?itok=aPctJhuR”><picture><!–[if IE 9]><video style=”display: none;”><![endif]–><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/debt-460×307.jpg?itok=fV_6QZqD 1x” media=”all and (min-width: 1280px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/debt-460×307.jpg?itok=fV_6QZqD 1x” media=”all and (min-width: 480px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/debt-460×307.jpg?itok=fV_6QZqD 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/debt-460×307.jpg?itok=fV_6QZqD 2x” media=”all and (min-width: 1024px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/debt-460×307.jpg?itok=fV_6QZqD 1x” media=”all and (min-width: 768px)” type=”image/jpeg”></source><source srcset=”https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/debt-460×307.jpg?itok=aPctJhuR 1x” type=”image/jpeg”></source><!–[if IE 9]></video><![endif]–><img data-entity-type=”file” data-entity-uuid=”6191bdd9-ee51-4fa9-a724-061cae909b9b” data-responsive-image-style=”inline_images” height=”334″ width=”500″ src=”http://news.valubit.org/wp-content/uploads/2019/06/debt-460×307-2.jpg” alt=”” typeof=”foaf:Image” /></picture></a></p> <p>Stories of crippling student loan debt are not new, however, the idea that one can escape their obligation to repay the money they’ve borrowed is a symptom of the <a href=”https://www.shtfplan.com/headline-news/trump-to-be-blamed-for-the-next-recession-but-americans-lack-of-responsibility-is-real-culprit_04242019″>massive irresponsibility running rampant</a> in our culture and propagated on a daily basis.<a href=”https://nypost.com/2019/06/12/college-grad-flees-us-to-avoid-crippling-student-loan-debt/”>According to the <em>New York Post,</em> </a><strong>a Pennsylvania man bought a one-way ticket to China to leave his financial woes behind after four years of job searching had gotten him nowhere in the United States.</strong></p> <p>Of course, no one held a gun to this man’s head and forced him to take out loans.</p> <blockquote> <p><a href=”https://thehill.com/opinion/finance/440075-trumps-regulatory-rollback-boosts-odds-of-a-financial-crisis”><em>The Hill</em> recently reported</a> that Trump’s “regulatory rollbacks” would boost the chances of another recession. Trump’s administration has been wiping out measures designed to prevent consumers from being ensnared in unsustainable debt and, at the same time, eliminating borrowers’ ability to seek court-ordered relief when they are.</p> <p>Just because Trump removes some regulations doesn’t mean people will go out and overburden themselves with debt, and if they do, they should have to face the consequences.<strong> Personal responsibility would go far in ensuring we have a free society, however, it certainly seems like most Americans would simply rather have their decisions made for them and then blame others when they make a bad choice</strong>. –<a href=”https://www.shtfplan.com/headline-news/trump-to-be-blamed-for-the-next-recession-but-americans-lack-of-responsibility-is-real-culprit_04242019″><em>SHTFPlan</em></a></p> </blockquote> <p><em><strong>“I had to escape this debtors’ prison. It felt like there was no other choice,”</strong></em> <a href=”https://www.ydr.com/story/news/education/2019/06/11/student-loan-debt-pa-college-graduate-flees-country-escape/1329116001/”>Chad Albright told the<em> York Daily Record</em></a><em>.</em><strong> “That’s what America became to me, a prison. So I left.”</strong></p> <p>But it was a prison of Albright’s own making. </p> <p>“I wanted that diploma, and I was willing to work for it,” Albright told the newspaper. “Everyone always told me it would be worth it.” But no one apparently explained that if you take someone else’s money and sign a contract saying you’ll repay it that eventually, they will come for their money.  This really isn’t rocket science, but supposedly needs to still be explained.</p> <blockquote> <p>After graduating with a degree in public relations in 2007, at the start of the Great Recession, Albright found to his dismay that job offers were not exactly pouring in.</p> <p>During interviews, he said he heard the same line from prospective employers: “Sorry, there’s someone who’s been doing this for 10 years and just lost their job. I have to go with someone who has 10 years’ experience.”</p> <p>He recalled: “But the last thing they would say to me, ‘Don’t worry, your day will come.’”</p> <p>The despondent man moved back to parents’ place in Lancaster, where he said he fell into a deep depression.</p> <p>“I was expected to make a $400 loan payment every month, but I had no money, no sustainable income. College ruined my life,” he said.</p> <p>“Two years of nonstop interviews and nothing. I was so done.” –<a href=”https://nypost.com/2019/06/12/college-grad-flees-us-to-avoid-crippling-student-loan-debt/”><em>The New York Post</em></a></p> </blockquote> <p>If he could do things over, he said he would have skipped the degree and taken a course online to learn about computer programming. “I’ve accepted that this is my life now,” Albright said. “<strong>College ruined my life to the fullest extent, and my life is a constant reminder of that.</strong>”</p> <p>Albright is now a permanent resident in Ukraine working in sales and hasn’t checked his student loan balance in over eight years.  “I’m happy to be away from my debt, but I’m lonely most of the time,” Albright said. “I don’t really have other options at this point, though,” the 39-year-old said.</p> <p><strong>It’s unfortunate that our society is doing a great disservice to those who chose to go to college. </strong> The government’s entrance into the student loan business exaggerated the prices to attend school and the constant bombardment of the sentiment that “you can’t get by without a college degree” is failing far too many.</p> <p><a href=”https://amzn.to/31upydu”>Anthony O’Neal, the author of <em>The Graduate Survival Guide</em> </a>offers great advice in his book for college students. It is the ultimate manual for students, identifying five mistakes to avoid making in college. These mistakes can lead to years of pain and expensive life lessons. <strong>As Anthony tells students, “The caliber of your future will be determined by the choices you make today.”</strong></p> Thu, 13 Jun 2019 15:50:00 -0400 Tyler Durden https://www.zerohedge.com/news/2019-06-13/us-teen-flees-avoid-student-loan-repayment-i-had-escape-debtors-prison