Looking For Some Inflation

Donald Trump continues to say all the right things.

Despite what MSM lackeys and a few political hacks from both parties are saying, Trump continues to nail it. Yesterday, for example, he said "....no more State dinners. We should be eating hamburgers." They should serve drive-in fast food at those State dinners. It's good enough for the poor and the undeserved of this country. It's what they have to subsist on everyday. It ought to be good enough for a bunch of flatulent-laden, double-chinned dignitaries, freeloading on the taxpayer dollar, once in their lives.

Here are some more things Trump got correct. He said that the President seems to be madder at him (Trump) than he is at the Orlando shooter. That little gem resonates with a whole lot of Americans, gay or otherwise.

And then there's Trump's recent beauty to his fellow Republicans, "Stop Talking!" Some took potshots at him over his response about the tragic Orlando affair. One such platitude-filled Republican is Tennessee Senator Bob Coker. Now here's an interesting fellow. He came to the Senate a multi-millionaire real estate investor. A real smart guy, you'd think, since real estate involves a bunch of numbers. And no doubt some complicated tax filings every year.

Yet for three years after being elected in a row he apparently had difficulty filing his income taxes correctly to the tune of millions of unreported dollars. This is not hearsay; it's a matter of public record even the neocons at the Wall Street Journal editorial staff wrote about. More recently, again a matter of public record, there's been some questions about possibly trading on insider information back in his home state. It was only after some of this earlier came to light that the good Senator was obliged to correct his seemingly large tax filing oversight.

But there was still a discrepancy between what he thought that he owed and what the IRS thought that he owed. If that sounds familiar the only difference is elected officials get a pass on late fee penalties and interest charges. You and I don't.

We are not implying anything here. People can infer, as they will, what they want. There's most likely enough dirt to go around. The MSM with these stories, holding up high ranking Republicans as if they are some sort of paragon  of measurement, is trying to drive a wedge between Trump and his supporters. It hasn't worked before and it's highly unlikely to work come this November.

Right or wrong, like it or lump it--and that's where the real rub is--he apparently is saying things people want to hear. We heard about a fellow, poor guy, who apparently set some sort of medical record. He was vomiting everyday for a year. Yep, 365 days straight. All the medical experts were stumped until one of them decided to finally take a decent history. Most of you might vaguely recall what that is, when the physician asks questions, takes notes, listens and doesn't attempt to put words or narratives in your mouth for longer than 20 seconds.

That was nearly 30 injections and almost 100 expensive prescriptions later. It's turns out the fellow was feeling so guilty for throwing out a plastic bottle while driving home late one night several years ago from an Al Gore speech, as penance he was forcing himself to read something about climate change every morning. But that's not the saddest part. He recently received his new Obamacare notice. His annual premium is up 1,000 percent.

We've heard, but again can't confirm, he's thinking about making a copy of the bill and sending it to Fed Chair Janet Yellen. Rumor has it she apparently is looking for some inflation.

Politics Is All

 
Hoaxes are like theories. there are two kinds--those that have been disproved and those waiting to be disproved. In some cases the waiting can get rather long in the truth.

There's no shortage of hoaxes making the rounds today. climate change, the lone wolf theory. One of the most prominent and longer standing ones is the Federal Reserve (aka central bankers) know what they're doing. Buried within that is a subset one, that the Fed doesn't have a political agenda. It does.

In the eyes of many, Americans now face two evils running for the White House. Another recently was forced out. One represents the unknown, the uncertainty that change brings. The other is a known quantity yet no less disturbing, more of the same with the possibility, like a huge out-of-control blob, expanding evil even further.

The Yellen-led Fed disdains uncertainty. Volatility is Fed speak for the same. Proof positive is its now exposed, well-documented fence straddling posture. Like her predecessor both are card carrying members. Neither ever met a decision that didn't deserve a good straddle. It's right up there on page two of the How To Be A Good Bureaucrat For Dummies manual.

There's a principle that the closer you observe something the more it changes. Another paradox. In  his new book, The Great Invention, Ehsan Masood, seems to argue, and this is our interpretation, the Fed tries by focusing on GDP growth, to micromanage what can't be micromanaged. Controlling what you measure then often distorts your outcome.

One of the Darth Vaders is a well-known business person. To many that's in itself scary enough. The other is a well known cattle trader. The path of least resistance for the Fed is the cattle trader. It's the easiest fence to straddle. So don't expect any interest rate hikes until after Inauguration Day, if even then. Politics is all and all is politics.

Overnight

Well, the Fed spoke Wednesday, dialing back talk about raising interest rates, as one commentator reported, just how quickly they will be hiking rates in the future. The new normal although it's hardly new and it isn't very normal is the Yellen-led Fed is searching for some inflation as it appears inflation of the only thing that's going to get this Fed off the dime.

Meanwhile, the Bank of Japan made few friends among investors, something it now is in dire need of, after sitting tight on any new monetary stimulus. With the U.S. dollar softening on the Yellen news and the yen pushing higher ever so slightly against the dollar, it was not a recipe to make make investors in Japan jump for joy. Couple that with the upcoming Brexit vote in the UK and you have a wait-and-see play going on.

Asian shares broadly turned south after digesting the news with the Nikkei down -3%, the Hang Send for over -2%, the Korean Kospi faded -1.07% , the Shanghai Composite edged lower- 0.21%. the Australian ASX 200 was among the few bucking the down draft by edging slightly higher 0.06%.

For Japan's Nikkei it hit a four-month low overnight taking out its April low and at one point trading at 15,436.61. The yen helped itself to trade near a 22-month high, Reuters reported. Again, as previously noted, the strong yen won't make the export sector happy.

Here in the U.S. Thursday brings the consumer price index, expected at 8:30 a.m. EDT  in what some are labeling is "the first fresh inflation report after the Fed forecasts Wednesday revealed that one rate hike is probably more likely than two this year. Fed forecasts also show at least four fewer hikes than previously forecast through 2018."

Hallelujah!

This story ran today on Bloomberg. Anyone surprised?  Sure, if Brexit passes, they'll be some volatility. Life is full of volatility. That's why we'll be buyers--opportunity to be apart of something much better. The word deceit is conjured by one Brexit-stay wag. Question: Who would know more about deceits than the already, long entrenched?

He goes on to say that he is more "worried now, much more worried than I was was in 2008." You'd be worried too if you were about to lose lucrative control of peoples' lives that you and your kind have been doing all in your power to decimate for years.

The campaigns for and against keeping the U.K. in the European Union laid out opposing visions of life outside the bloc as dueling ahead of next week’s referendum enters its final stretch.
Brexit Watch: The pound, the polls, and the probability of Brexit, all in one place
Chancellor of the Exchequer George Osborne painted an unremittingly bleak picture of the country’s finances after a vote to leave, detailing an emergency slate of spending cuts and tax hikes he said would be required. Appearing at a rail depot east of London on Wednesday alongside his Labour Party predecessor, Alistair Darling, Osborne warned that a 30-billion-pound ($43 billion) “black hole” would open in public finances due to reduced trade and investment.
Claims of benefits from Brexit are “fantasy economics. Worse than that, it’s a deceit,” said Darling, who served as chancellor during the financial crisis. “I’m more worried now, much more worried than I was in 2008,” he said.
In a sign of discord within the ruling Conservative party, 57 of it 330 lawmakers declared their opposition to Osborne’s proposed emergency budget, writing in a letter that his position would be “untenable” if he tried to implement it. Labour Party Leader Jeremy Corbyn said he wouldn’t back a fresh round of fiscal austerity either.
Hours earlier, the increasingly confident “Leave” campaign unveiled its own legislative agenda, pledging laws to restrict free movement of people and reduce the influence of EU judges with the goal of an ultimate departure by 2019. With a “framework for taking back control” comprising six bills, its proposals resemble an alternative government platform, again highlighting the divisions among Prime Minister David Cameron’s Conservatives. Most Tories -- and bookmakers -- expect him to step down within a year if “Leave” is victorious.

bloomberg.com/news/articles/2016-06-15/u-k-campaigns-lay-out-post-brexit-visions-in-push-for-dominance.

In the short run, uncertainty is certain. In the long run the UK and its currency will be stronger and better. In fact, it will become even more of a safe haven, like the old Swiss gold-backed franc, against volatility and EU bureaucratic nonsense.

So don't let the scaremongers with deep vested interests in keeping you and your future in their greedy, grimy little clutches frighten you. Think of MLK's famous words: "Free at last, free at last."

Can someone now please shout out a Hallelujah!

Brexit: It's Your Vote And Your Life

If UK voters are looking of another reason to for leaving the EU, here it is. We have no connection with Google or any other Internet news provider. We challenge anyone to prove otherwise.

In fact, Google recently censored us for 16 days for writing material like what we've been writing here since we first began. We defy them, Google, to deny what we just wrote. The censor came without reason. This is about the liberty of the Internet., keeping it out of the hands of indifferent, distant bureaucrats, and at large you're own personal liberty.

 We’ve written plenty of times about ridiculous European plans to create a so-called “snippet tax” which is more officially referred to as “ancillary rights” (and is really just about creating a tax on Google).

The basic concept is that some old school newspapers are so lazy and have so failed to adapt to the internet — and so want to blame Google for their own failures — that they want to tax any aggregator (e.g., Google) that links to their works with a snippet, that doesn’t pay for the privilege of sending those publishers traffic. As you may remember, Germany has been pushing for such a thing for many, many years, and Austria has been exploring it as well. But perhaps the most attention grabbing move was the one in Spain, which not only included a snippet tax, but made it mandatory. That is, even if you wanted Google News to link to you for free, you couldn’t get that. In response, Google took the nuclear option and shut down Google News in Spain. A study showed that this law has actually done much to harm Spanish publishers, but the EU pushes on, ridiculously.

As discussed a year ago, some in the EU Commission are all for creating an EU-wide snippet tax, and as ridiculous and counterproductive as that is, the Commission is about to make a decision on it, and the public consultation on the issue is about to close (it ends tomorrow). Thankfully, many, many different groups have set up nice and easy systems to understand and respond to the consultation — which you should do. Here are just a few options:

• The EU Commission’s own consultation platform (this one is messy, buggy, and annoying, but it’s the official one).
• The site FixCopyright.eu has a well done “answering guide” that helps you through the consultation and explains the details behind many of the questions in the consultation.
• SaveTheLink.org from OpenMedia has a simple signup form that just adds your name to a letter.
• The group Allied for Startups has another good sign on letter Stop the link tax

zerohedge.com/news/2016-06-15/eu-wants-impose-tax-sharing-links-internet

Overnight

We always enjoy it when we read an opening paragraph like this one from Reuters:

Japanese stocks rose in choppy trade on Wednesday, snapping a four-day losing streak thanks to short-covering, while coming central bank meetings and worries that Britain might vote to leave the European Union kept investors on edge.

Short-covering is the polar stock market opposite of profit taking in the media as the the market was down today owing to profit taking. What that really means is they don't have a clue why the market did what it did, since there is short-covering and profiting-taking every day the market is open. So more of the same is most likely more accurate in the face of little news.

With that said, the Nikkei edge up some, 0.38%, to 15,919 after opening down, the Shanghai Composite was up 1.40%, the Hang Send Index 0.27% while the Korean and Australian markets moved down with the Kospi off -0.16% and the ASA 200 dropped -1.08%

China apparently paid a price for its earlier attempts this year to control capital flight out of the country as, the WSJ reported: MSCI said it would admit Pakistani stocks to its Emerging Markets Index for the first time while excluding Chinese A shares, citing the inability of investors to get their money in and out of the country freely as a key reason. But again much seems to be riding on Wednesday's Fed meeting and the same for the upcoming meetings at the BOJ as investors remain cautious over these and the scheduled Brexit vote in the UK.

Not New

 reuters.com/article/us-funds-doubleline-gundlach-


This isn't new. What's new is more and more coming right out and saying it. MSM lackeys and sycophants aside, this is a healthy sign. Social, financial or whatever, facts are stubborn things and people are finally getting less and less cowered by PC irrespective.

You can't criticize unless you're civil and have a better plan. And other such nonsense. The market is way over-valued, the Fed has created numerous bubbles and people are finally getting it: the only emperor is the emperor of ice cream. That clearly omits bureacrats, politicians, elists, economists, climate alarmists and central bankers.

We will be buyers on any significant downturn owing to Brexit. Not that the EU will survive because it shouldn't. There are only two boondoggles in this century that will prove to be greater farces than the EU. One of them is gluten, the other climate change. People are slowly catch
ing on to the gluten farce and the EU charade. Climate change won't be far behind.

You know the time is growing near when their backers and fellow zealots seek to make it a criminal and civil offense to question their orthodoxy or speak out against them. They're worried. Speak out. These nearsighted, arrogant central bankers hold your financial future in their scope of incompetence. If you screw up your future that's one thing. Own it and move on. If they do it's another, one you should be ashamed of allowing to happen.

If you have a voice, use it. A vote, exercise it. The only thing these people understand is pressure. And lots of it. If that sounds a bit bellicose, so be it. They'll be a hell of a lot less apologetic after their incompetence finishes screwing up the next generation of your life.

Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Tuesday investors are dropping risky assets and turning to safer securities including Treasuries and gold because they are losing faith in central banks.

The man known on Wall Street as the 'Bond King' is one of the first heavyweight investors to publicly raise red flags about the credibility of major central banks, including the U.S. Federal Reserve, as countries struggle to manage economic growth.
Last year, Gundlach correctly predicted that oil prices would plunge, junk bonds would live up to their name and China's slowing economy would pressure emerging markets. In 2014, he forecast U.S. Treasury yields would fall, not rise as many others had expected.

"Central banks are losing control and they don't know what to do ... just like the Republican establishment and Donald Trump," Gundlach told Reuters in a telephone interview, referring to the Republic Party's unpredictable presumptive nominee for U.S. President.
Safe-haven German Bund yields fell below zero on Tuesday for the first time and global equity markets slid for a fourth day in a row on intensifying worries about a potential British exit from the European Union next week.

Gundlach's remarks come the day before U.S. Federal Reserve officials are widely expected to leave short-term interest rates unchanged following a dismal May jobs report.
"The Fed is confused and their confusion spills into investor psychology," said Gundlach, who oversees more than $100 billion at Los Angeles-based DoubleLine.
"The Fed changes its tone so frequently, it seems every other week the message is different. They’ve turned into the 'Zombie Fed.' They say the meeting this week is 'live,' but investors all know it isn't at all."

Gundlach said it is a "dangerous price appreciation game" to purchase German Bunds at current levels and that gold and gold miners are still an attractive place to put money to work.
On a webcast for investors later on Tuesday he said negative interest rates implemented by some major central banks, notably in Japan, were backfiring. "Negative interest rates don't do what they're theoretically supposed to do," he said, noting the appreciation in the Japanese yen.
He added that negative interest rates "aren't leading to higher economic growth." He said world gross domestic product could be averaging around just 1 percent against the backdrop of aggressive global monetary policies.

Gundlach also noted the dramatic "drawdowns" from the highs in several stock markets. Germany is down 22 percent, Japan is down 23 percent, China is down 45 percent, the United Kingdom market is down 15 percent and France is down 20 percent.
"Negative rates do not prop up stock markets," Gundl
ach said on the webcast

Gundlach's prescient investment calls have accelerated DoubleLine's rise and earned him a reputation as a savvy investor. DoubleLine's flagship DoubleLine Total Return Bond Fund (DBLTX.O), which invests mainly in mortgage-backed securities, has assets of $60.3 billion, making it one of the world's largest bond mutual funds.

Be Careful What

Central bankers rolled out zero and below zero interest rates like it was a cure all, the fix for all fixes to solve the global slowdown. Such so far has been anything but the case. Be careful what you wish for. Those uninteaded consequences can wreak more than you bargained for.

Yields on the 10-year government debt of Germany dipped below zero on Tuesday for the first time on record, in a dramatic sign of the outsize effect of central-bank policy and investors’ search for safe havens.

That search for safety accelerated on Tuesday as concerns that Britain could vote to leave the European Union next week continued to rattle global markets, pushing yields down on a range of government debt from Japan to the U.K.

The yield on the bund fell to minus 0.03% when European markets opened, from around 0.02% at Monday’s close, according to data from Tradeweb. With political risks around the world mounting, investors see room for yields to fall even further.

Government-bond yields have been falling for the past year across the developed world as investors look for safety and central banks push interest rates close to zero and into negative territory. The European Central Bank has contributed to the fall in bund yields through its massive bond-buying program, aimed at lowering financing costs across the eurozone.

More recently, the U.K. referendum has added to the flight to safety as opinion polls increasingly point to a so-called Brexit on June 23, spurring worries about a stretch of uncertainty that could hurt the global economy.

“The fact that Brexit is now perceived as a possibility is a total game-changer, and it’s very difficult to estimate the macroeconomic impact,” said Franck Dixmier, global head of fixed income at Allianz Global Investors.

hwsj.com/articles/german-10-year-government-bond-yields-dip-below-zero-for-first-time

Do Yourself A Favor

Here are some things you won't see or hear in MSM about the Orlando massacre. As we always say: Read, watch and decide for yourself.

“I mean, I’m pretty sure it was more than one person,” witness Janiel Gonzalez told a bevy of reporters. “Like I said, I heard two guns going off at the same time,” he continued, gesturing back and forth with his fingers indicating the gunfire emanated from separate directions.

Further, he explained, panicked clubgoers had difficulty locating exits during the shooting, which he estimated lasting eight minutes — plenty of time for the shooter(s) to reload multiple times. When Gonzalez and others finally found a door hidden behind a curtain,

“There was probably like 50 people trying to jump over each other just trying to exit the place, and there was a guy holding the door. The guy was holding the door and not letting us exit.”

When they asked why he was blocking their only way out — as the shooting seemed to be drawing near — Gonzalez said the man told them, “No, you guys have to stay inside. Stay inside.” Desperate, the group demanded he move to give them safe passage — but the man’s steadfast refusal to do so provoked a serious question.

blacklistednews.com/Media_Refusing_to_Cover_Numerous_Witness_Accounts_of_Multiple_Shooters_in_Orlando_Massacre

FBI Admits: 'Orlando Shooter May Not Have Worked Alone'
http://dailybail.com/home/fbi-...

5 Reasons To Question The Official Story Of The Orlando Shooting
http://www.blacklistednews.com...

Orlando Shootings: Terrorism or False Flag?
By Stephen Lendman
http://www.globalresearch.ca/o...

Terrorism and G4S: Was Orlando Another False Flag?
June 12, 2016 by Kevin Ryan
http://www.washingtonsblog.com...

Orlando nightclub shooting: Yet another false flag?
It sure walks, talks and quacks like one
By Kevin Barrett on June 12, 2016
http://www.veteranstoday.com/2...

The Orlando Nightclub Shooting & the Media-Government Alliance 
http://www.thetruthhound.com/t...

DHS, FBI, and others - somehow 'missed' a potential attack, by not properly connecting the dots.  This is an extremely unlikely scenario - the event happened 15 minutes from a local FBI field office, who has their "Pulse" on the local community.  Just last month, the FBI foiled a terror plot involving a man who wanted to apparently bomb a synagogue.  They monitor all electronic activity, are we to believe they didn't pick up any 'chatter' ?   We can't disprove a negative, there's no evidence supporting the incompetence theory - that it was a 'mistake.'  Many will say it was incompetence, because Omar was in contact with the FBI previously - and the thinking goes, they already 'knew' about his connections to Islam, and so - should have stopped him from buying guns at the first checkpoint, and at the second checkpoint - from any preliminary preparations that were made minutes leading into the event (such as communication with his Terrorist friends).  Not incompetence.

zerohedge.com/news/2016-06-13/false-flag-blow-back-or-incompetence-forex-look-orlando-shooting

Overnight

Japanese equities took another hit overnight, falling to two-month lows as concerns grow about Brexit. The Nikkei 225 fell 1.3% early after hitting a low that touched an early April low of 15,817.74. Some of the problem storms from a stronger yen, up 12% since January against the dollar as exporters feel the pain. Just yesterday it hit a six-week high of 105.735.

Global risk off trades have dropped replaced by risk on so investors look for safe havens.The Korean Kospi edged lower 0.4%, the Australian S&P/ASX 200 lost 1.8%, the Hang Seng Index fell 0.1% and the Shanghai Composite Index moved up 0.2%.

Japan’s Nikkei Stock Average was down 1.3%, Korea’s Kospi fell 0.4% and Australia’s S&P/ASX 200 lost 1.8%. The Hang Seng Index retreated 0.1%, while the Shanghai Composite Index rose 0.2%.

Chinese investors appear to be waiting on MSCI’s decision, to be announced Tuesday evening in New York, on whether to include Chinese stocks in its widely tracked Emerging Markets Index.

Amid the uncertainty leading up the U.K. referendum next week, investors are shedding riskier assets such as stocks and buying yen and gold. Gold rose overnight and was recently trading at $1,284.50 per troy ounce.