After Gates Foundation Cuts Ties, Arabella Advisors “Ceases Operations,” Reemerges As “Sunflower Services” Nearly three months after the New York Times revealed that the Gates Foundation had decided to sever ties with philanthropic advisor Arabella Advisors, which engineered a sprawling “dark money” network of nonprofit entities, including the New Venture Fund (NVF), Sixteen Thirty Fund, Hopewell Fund, and Windward Fund, that […]

Texas Wants To Be Reimbursed For Biden Open-Border’s Cost Authored by Luis Cornelio via Headline USA, Members of the Texas Congressional delegation are demanding the federal government reimburse the state for the $11.1 billion it spent tackling the Biden administration’s “open-border abdication.”  The lawmakers, including both senators and House members, made the request Friday in a three-page letter to Attorney […]

House Passes Bill To Release Epstein Files; Comer Torches Hakeem Jeffries For Seeking Post-Prison Meeting The House has passed legislation to compel the Trump DOJ to release records related to the late convicted sex offender Jeffrey Epstein, after the bill gained enough bipartisan support to require a House floor vote – and of course, after President Trump reversed course and decided to support it.  My legislation with […]

Two Ukrainians Working For Russian Intelligence Behind Unprecedented Rail Sabotage: Poland Claims Warsaw authorities have now laid official blame on the sabotage attack on Poland’s rail network which was uncovered Sunday, and could have led to the derailing of a train. As everyone expected, they are looking squarely at Moscow. Polish Prime Minister Donald Tusk announced Tuesday that an investigation at the scene points to […]

Emails Reveal Under Armor Urged Maryland To Buy Horse Farm After No Buyers – Will Gov. Moore Return Favor? The pattern emerging from Under Armour CEO Kevin Plank and his Maryland-based real estate ventures suggests mounting financial strain beneath the surface. This comes as UA shares have collapsed 48% year to date, trading near record lows, raising questions about Plank’s sudden need for liquidity.  In February, we noted that […]

Trump Stuns Press In Defending MbS Over Khashoggi Murder, As Saudis Float $1 Trillion Investment Things were a bit rough during a Q&A with the White House press pool as Saudi Crown Prince Mohammed bin Salman (MbS) was at the White House Tuesday. One ABC reporter asked MbS point blank what he’s for many years tried to avoid being asked – about the murder of  journalist Jamal Khashoggi. Trump was none too happy about the […]

Larry Summers Goes Into Hiding; Messages Sought Epstein’s Advice On Cheating With Daughter Of CCP Official In the latest blow to Democrats from the recent ‘Epstein files’ released by House Republicans, former US Treasury Secretary Larry Summers announced that he’s stepping back from public commitments after new documents reveal he was asking for Jeffrey Epstein’s advice on how to bang a female mentee behind his wife’s back.  […]

“Winter Comes In Like A Lion”: Meteorologists Warn Of Incoming Cold Blast   On X, meteorologists are citing new forecasts indicating a shift toward sustained colder-than-normal temperatures across the Lower 49 by late this month or early next month. If heating degree days begin to climb and model confidence strengthens around a significant cold blast, the setup would provide upside continuation for natural gas prices.  […]

“I’m Panicking WTF”: Cloudflare Outage Sparks Global Internet Chaos Update (1215ET): Cloudflare suffered a major internal service outage that disrupted multiple products globally and triggered widespread failures on major sites like X. The company says it does not suspect a cyberattack but acknowledges that errors, slow performance, and login issues are still occurring. A core fix has been deployed, but Cloudflare cautions that […]

Navigating The Curve: The Allure And Risks Of Long-Dated US Treasuries Authored by Mario Eisenegger via BondVigilantes.com, Compared to a year ago, the US Treasury curve has steepened considerably. While yields at the front end have dropped due to anticipated rate cuts, the long end of the curve has not budged. In fact, long-end bonds have sold off, giving bond investors the opportunity to lock in elevated yields. That’s […]

Sen. Graham Touts Movement On New Russian Sanctions Bill ‘With Trump’s Blessing’ Sen. Lindsey Graham announced Monday the Senate is taking up legislation that would sanction Russia’s trading partners, in order to ramp up the pressure on Moscow to end the war with Ukraine. The announcement came after President Donald Trump told reporters Sunday night the proposed legislation would be “OK with me” – which marked his strongest signal […]

AI “Circle Jerk” Rages On: Microsoft, Nvidia Invest $15 Billion In Anthropic Two months ago, when nobody was talking about the coming AI debt tsunami needed to bankroll trillions in data-center capex, and nobody was paying attention to Oracle’s CDS quietly blow out, and well ahead of the Bank of England’s AI valuation warning, we published “The Stunning Math Behind The AI Vendor Financing “Circle Jerk,” essentially laying out all […]

China’s Oil Stockpiling Accelerated In October Authored by Irina Slav via OilPrice.com, China stockpiled crude oil at elevated rates in October, at a daily rate of some 690,000 barrels, up from 570,000 barrels daily in September, Reuters’ Clyde Russell reported today, citing calculations derived from official Beijing data. Refinery throughput in October averaged 14.94 million barrels daily, the official data showed, while […]

Callaway Sells Struggling Topgolf To Los Angeles Private Equity We raised the question back in 2023: was the Topgolf mania just another consumer hype bubble? Turns out that may have been the case. Topgolf Callaway Brands had been trying to unload or spin off the Topgolf unit for some time, and now they have. Bloomberg reports that Callaway has sold a 60% stake in its Topgolf and Toptracer division to Leonard Green & Partners […]

The Boundaries Dividing Political, Monetary, Fiscal, Trade And Other Policies Are Gone By Michael Every of Rabobank The Polycene and the Monocene For over a decade our global strategy has warned the ‘liberal world order’ would collapse. Now, the New York Times’ Tom Friedman, in ‘Welcome to Our New Era. What Do We Call It?’, shares that “For the past few years, I have had to ask myself a question I never asked before […]

Factory Orders Data Show Rebound In August As the macro data engine slowly starts to grind back into motion, we are given glimpses of what happened ‘months’ ago. Earlier we got some jobless claims data from four weeks ago, and now we get Durable Goods and Factory Orders data from August… …and the data we got was kinda meh… August Factory orders rose 1.4% MoM (a big swing from the 1.3% MoM decline in July and an even bigger […]

Trump Blasts “Big, Fat, Rich Insurance Companies” As Lawmakers Propose Ways To ‘Fix’ Obamacare Obamacare remains on center stage nearly a week after the government shutdown ended on Nov. 12. The health coverage program, formally known as the Affordable Care Act Health Insurance Marketplace, was a driver of the government shutdown as Democrats demanded that temporary enhanced subsidies for the program be made permanent. The […]

Elliott Mgmnt Builds ‘Large’ Stake In Barrick Mining As Central Bank Gold Buying Accelerates Elliott Management has built a large stake in Barrick Mining Corp., the Financial Times reported, citing people familiar with the matter. Elliott’s stake – valued at at least $700 million – puts it among Barrick’s 10 biggest investors, the FT cited the people as saying, and comes after the Canadian gold giant struggled to benefit from […]

Super Creepy ‘The World Ahead 2026’ Economist Magazine Cover Signals War, Pestilence, & Financial Collapse Next Year Authored by Michael Snyder via The End of The American Dream blog, There is one magazine that represents the interests of the global elite more than any other.  It is known as “The Economist”, and each year it puts out an issue that is dedicated to what is coming in the year ahead.  As we have seen so many […]

Valar Atomics Achieves Cold Criticality With Project NOVA California-based reactor developer Valar Atomics announced the milestone achievement of obtaining criticality under Project NOVA in collaboration with the Department of Energy’s (DOE) Los Alamos National Lab (LANL). Criticality was achieved at 11:45 AM PT on November 17th. Zero-power criticality, or “cold criticality”, is the foundational milestone which precedes nuclear […]

ADP Employment Report Signals Rebound In Labor Market; Claims Confirm Resilience For the four weeks ending Oct. 31, 2025, private employers shed an average of 2,500 jobs a week, according to ADP’s new weekly employment report update, suggesting that the labor market improved significantly in the last week (from an 11,250 average drop during the prior week). Extrapolating with some simple math that implies a monthly drop of […]

Futures, Bitcoin Tumble, Extending Longest Losing Streak Since August US equity futures are sharply lower again – but off session lows – after the S&P 500 and Nasdaq closed below their 50-day moving averages for the first time since April; both tech and small caps are lagging as the market tries to find a level as the bond market continues to reduce the probability of a further Fed easing. As of 8:00am. S&P futures are […]

Trump Threatens To Cancel World Cup In Seattle After Election Of ‘Communist’ Mayor If Democrats were hoping that the Trump Administration was going to overlook their recent shift towards “democratic socialist” candidates for political office, they should probably rethink their strategy.  Federal dollars and favors are unlikely to flow forth from Washington DC into the pockets of Zohran Mamdani in NYC or Katie Wilson in Seattle. […]

Full Market Cycles: Half Bull And Half Bear Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, we discussed the importance of “math” as it relates to valuations and noted the importance of understanding “full market cycles.” To wit: “The math on forward return expectations, given current valuation levels, does not hold up.  The assumption that valuations can fall without the price of the markets […]

​​​​​​​Home Depot Slashes Outlook As Home-Renovation Demand Continues To Crumble Home improvement retailer Home Depot slashed its full-year earnings outlook after another weak quarter, citing soft big-ticket spending, a paralyzed housing market, and lackluster seasonal demand. Adjusted EPS is now expected to fall 5%, worse than prior guidance.  Third-quarter comparable sales rose just .2%, far below Bloomberg […]