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Articles by Penelope Dreadful
Anti-Trump Dissidents Disrupt Convention, Fail To Stop Nomination
In a brief period of excitement (especially for completely unbiased John Harwood), Republican factions trying to stop Donald Trump's nomination noisily disrupted a vote on party convention rules. But, as The Hill reports, the Republican National Committee ignored the outcry from the angry delegates and adopted the convention's rules by a voice vote, rebuffing shouts by those looking to mount a last-ditch effort to sink Donald Trump.
4 Shot, 1 Killed After Black Gunman Fires At Passing Cars On Tennessee Highway, Targeting Police, Whites
The worst case scenario we predicted yesterday, hours before the shocking events in Dallas had taken place, is now in play and the genie unleashed by the recent incidents of police violence - whether unprovoked or justified - and popularized by an aggressive speech by none other than the president in which he collectivized the failings of the US police force as one organic whole, is now officially out of the bottle.
JPMorgan Says Recession Odds Rise To New Cycle Highs
While not quite as dire as the recent analysis by Deutsche Bank which calculated recession odds in the next 12 months as more than likely, or 60% as of last weekend, moments ago JPM released its own latest recession probability analysis, and - somewhat unexpectedly following today's outlier jobs report - sees a 37% chance of a receession in the next 12 months. This is the highest recession probability calculated by Jamie Dimon's bank during the current economic cycle.
Saudi Cash Reserves Drop To Lowest Level In 40 Months Amid Crude Carnage
The trend we flagged in November of 2014 continues unabated. When the Saudis moved to artificially suppress crude prices in an effort to preserve market share by bankrupting the cash flow negative US shale space, Riyadh was gambling. Gambling on how long US producers could rely on wide open capital markets to keep them afloat. Gambling on how tolerant everyday Saudis would be should it become necessary to cut subsidies to shore up the budget.
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