‘White Person To White Person: What Is Wrong With You?’

“My parents enlisted in World War II to fight fascism. They both served; my mother was a nurse, my father navigated bombers. They lost friends in that bloody war so that all the world could be free of fascism. They did not fight so that some white people could claim supremacy or that Nazis could openly walk the streets of America.”

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‘Sorry, But It’s Crazy’ – Riksbank Decision And The Policymaker Paradox

“Krona has appreciated faster than in [our] July forecast and while it’s reasonable to expect krona to appreciate due to the strong economy, it’s important that it doesn’t strengthen too rapidly,” Ingves said at the press conference, before stating the obvious as follows: “There are risks if Riksbank makes policy less expansionary before other, larger central banks.”

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ECB Leaves Everything Unchanged – Eyes Turn To Draghi

But you’ve got to think Mario Draghi isn’t looking forward to Thursday’s presser.

Although no one expected any actual change to policy rates or the APP, markets are expecting quite a lot in terms of outright jawboning, telepathy, side-eyes, winks, nods, or really anything at all to suggest that the ECB is going to try and keep a lid on euro strength and/or is prepping an exit plan from stimulus.

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Nosebleed.

The other possibility here is that by persisting in this, we’re exhausting our capacity to respond to future crises. Of course, if one waits around long enough, another crisis is bound to occur. When that happens not only will we be short on ammunition (e.g. if the next crisis started tomorrow, we’d be going into it from ZIRP/NIRP and with already bloated CB balance sheets), we’ll also be approaching it from nosebleed levels thanks largely to the fact that we never exited the state of exception instituted to cope with the previous crisis.

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Gary Cohn Not Racist Enough To Be Fed Chair, Trump To Consider Other Options

“President Donald Trump is unlikely to nominate Gary Cohn, his top economic adviser, as the next Federal Reserve chairman, indicating that he is open to considering additional names for a pick he has said he would like to make by year’s end, according to people familiar with the president’s thinking.”

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North Korea Promises ‘More Gift Packages’ As South Korean Shares Fall For 5th Day

“The recent self-defense measures by my country, DPRK, are a gift package addressed to none other than the U.S. The U.S. will receive more ‘gift packages’ from my country as long as its relies on reckless provocations and futile attempts to put pressure on the DPRK.”

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Twitter Accuses British Geological Survey Of ‘Market Manipulation!’ As Algos Trade North Korea Tweet

To all the Twitter users who are angry at the British Geological Survey for posting an assessment of an earthquake and roiling markets, we would gently suggest that you consider the fact that earth science research is what they are supposed to be doing.

That is, it is their job to study geological events. It is supposed to be your job and the job of the robots “manning” the trading desks to decide what those events mean for markets. 

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