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Trump Cancels Chicago Speech After Violent "Make America Hate Again" Protests Erupt – Live Feed

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By Tyler Durden

Following his appearance in St.Louis in front of 1000s, which was interrupted six times by protesters, Donald Trump has been forced to cancel his appearance in Chicago “due to security concerns” as a crowd waiting for him to arrive erupted into violence.

The GOP front-runner was scheduled to speak at the school’s pavilion at 6 p.m., with doors opening at 3 p.m. The first person in line to wait for a spot at the free event arrived at 3 a.m. The arena seats 9,500, though it's not clear how many are set to attend the rally.

Protesters lined up across the street from the pavilion, carrying signs that read “Build a wall around Trump and I'll pay for it!” and yelling to supporters in line for the rally.

As NBC Chicago reports, a crowd waiting for Donald Trump to speak Friday erupted after the presidential front-runner postponed his rally at the University of Illinois-Chicago Pavilion over safety concerns.

“Mr. Trump just arrived in Chicago and after meeting with law enforcement has determined that for the safety of tens of thousands of people that have gathered in and around the arena, tonight's rally will be postponed until another date,” an announcer said. “Thank you very much for your attendance and please go in peace.”

The crowd burst into shouts and cheers, and some scuffles broke out in the crowd, in the minutes after the announcement was made.

An hour before the rally was scheduled to begin, protesters were seen being escorted out of the venue.

Three attendees wearing shirts that read “Muslims United Against Trump” and “Make America Hate Again” were removed from the venue as protesters gathered inside and outside the pavilion.

Crowds shouted as the protesters were escorted out before several people in the audience began repeatedly chanting “U-S-A.” It was not immediately clear why the three were removed from the event.

Trump supporters were disappointed. “It is an assault on liberty. I think everyone should have a right to have a rally,” said Corey Bartkus, who recently graduated from college.

Live Feed:

Watch the latest video at video.foxnews.com

…read more

Source: Trump Cancels Chicago Speech After Violent "Make America Hate Again" Protests Erupt – Live Feed

    

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Two Charts To Consider Before The Monday Open

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By Tyler Durden

Deja-vu all over again…

And what happened next?

Trade accordingly…

…read more

Source: Two Charts To Consider Before The Monday Open

    

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Why Negative Rates Can’t Stop the Coming Depression

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By Tyler Durden

Submitted by Bill Bonner via InternationalMan.com,

Are you ready to pay to save?

Agora founder Bill Bonner explains why “negative interest rates” are spreading around the world…and could soon come to the U.S.

Like Doug Casey, Bill believes the worst is yet to come.

Bill says the coming financial collapse will be worse than the market crashes in 1987, 2000, and 2008. But this time, he says, it will affect everything from your portfolio…to your bank account…to the cash in your wallet.

About $7 trillion of sovereign bonds now yield less than nothing. Lenders give their money to governments…who swear up and down, no fingers crossed, that they’ll give them back less money sometime in the future.

Is that weird or what?

Into the Unknown

At least one reader didn’t think it was so odd. “You pay someone to store your boat or even to park your car,” he declared. “Why not pay someone to look out for your money?”

Ah…we thought he had a point. But then, we realized that the borrower isn’t looking out for your money; he’s taking it…and using it as he sees fit.

It is as though you gave a valet the keys to your car. Then he drove it to Vegas or sold it on eBay.

A borrower takes your money and uses it. He doesn’t just store it for you; that is what safe deposit boxes are for.

When you deposit your money in a bank, it’s the same thing. You are making a loan to the bank. The bank doesn’t store your money in a safe on your behalf; it uses it to balance its books.

If something goes wrong and you want your money back, you can just get in line behind the other creditors.

The future is always unknown. The bird in the bush could fly away. Or someone else could get him.

So, when you lend money, you need a little something to compensate you for the risk that the bird might get away.

A New Level of Absurdity

That’s why bonds pay income – to compensate you for that uncertainty.

Inflation, defaults, depression, war, and revolution all raise bond yields because all increase the odds that you won’t get your money back.

That’s why countries with much uncertainty – such as Venezuela – have higher interest rates than countries, such as Switzerland, where the future is probably going to be a lot like the past.

Venezuelan 10-year government bonds yield 11%. The Swiss 10-year government bond yields negative 0.3%.

The interest you earn on a bond is there to compensate you for the risk that you won’t get your money back. Or that the money you do get back when the bond matures will have less purchasing power than the money you used to buy the bond in the first place.

You never know. Maybe the company or government that issued the bond will go broke. Or maybe the Fed …read more

Source: Why Negative Rates Can’t Stop the Coming Depression

    

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Cofounder of SXSW dies

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News that SXSW cofounder Louis Meyers had died broke Friday afternoon, as the annual festival kicked off.

…read more

Source: Cofounder of SXSW dies

    

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Pentagon Admits It ‘Kinda Sorta’ Deployed Spy Drones Over America

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By Tyler Durden

In what will likely not surprise too many, The Pentagon has admitted it has deployed drones to spy over U.S. territory for non-military missions over the past decade. Confirming yet another conspiracy theory is conspiracy fact, FBI director Robert Mueller testified before Congress that the bureau employed spy drones to aid investigations, but in a “very,very minimal way, very seldom.” The report concludes, “the appetite to use spy drones in the domestic environment to collect airborne imagery continues to grow.”

As USA Today reports, the report by a Pentagon inspector general, made public under a Freedom of Information Act request, said spy drones on non-military missions have occurred fewer than 20 times between 2006 and 2015 and always in compliance with existing law.

The report, which did not provide details on any of the domestic spying missions, said the Pentagon takes the issue of military drones used on American soil “very seriously.”

A senior policy analyst for the ACLU, Jay Stanley, said it is good news no legal violations were found, yet the technology is so advanced that it's possible laws may require revision.

“Sometimes, new technology changes so rapidly that existing law no longer fit what people think are appropriate,” Stanley said. “It's important to remember that the American people do find this to be a very, very sensitive topic.”

The use of unmanned aerial surveillance (UAS) drones over U.S. surfaced in 2013 when then-FBI director Robert Mueller testified before Congress that the bureau employed spy drones to aid investigations, but in a “very,very minimal way, very seldom.”

The inspector general analysis was completed March 20, 2015, but not released publicly until last Friday.

It said that with advancements in drone technology along with widespread military use overseas, the Pentagon established interim guidance in 2006 governing when and whether the unmanned aircraft could be used domestically. The interim policy allowed spy drones to be used for homeland defense purposes in the U.S. and to assist civil authorities.

But the policy said that any use of military drones for civil authorities had to be approved by the Secretary of Defense or someone delegated by the secretary. The report found that defense secretaries have never delegated that responsibility.

The report quoted a military law review article that said “the appetite to use them (spy drones) in the domestic environment to collect airborne imagery continues to grow, as does Congressional and media interest in their deployment.”
* * *
Shortly before the inspector general report was completed a year ago, the Pentagon issued a new policy governing the use of spy drones. It requires the defense secretary to approve all domestic spy drone operations. It says that unless permitted by law and approved by the secretary, drones “may not conduct surveillance on U.S. persons.” It also bans the use of armed drones over the United States for anything other training and testing.

Given the lies that were …read more

Source: Pentagon Admits It ‘Kinda Sorta’ Deployed Spy Drones Over America

    

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Melissa Harris-Perry denies going to Fusion

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Melissa Harris-Perry denied a report that she was going to Fusion with a firm, “Hell, no.”

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Source: Melissa Harris-Perry denies going to Fusion

    

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Credit Card Debt In The United States Is Approaching A Trillion Dollars

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By Michael Snyder

Credit Card Debt - Public Domain

For the first time ever, total credit card debt in the United States is approaching a trillion dollars.  Instead of learning painful lessons from the last recession, Americans continue to make the same horrendous financial mistakes over and over again.  In fact, U.S. consumers accumulated more new credit card debt during the 4th quarter of 2015 than they did during the years of 2009, 2010 and 2011 combined.  That is absolutely insanity, because other than payday loans, credit card debt is just about the worst kind of debt that consumers could possibly go into.  Extremely high rates of interest, combined with severe penalties and fees, can choke the financial life out of almost any family in no time at all.

These days, most Americans use credit cards for various purposes, and they can be very convenient.

And if you pay them off every single month, they don’t become a problem.

Unfortunately, a lot of people are not doing this.  According to CNBC, total U.S. credit card debt rose by an astounding 71 billion dollars last year alone…

Last year, credit card debt in the U.S. surged by approximately $71 billion to $917.7 billion, according to a new study from CardHub.com. The research also found that most of the debt accrued in 2015 came in the fourth quarter, when Americans tacked on more than $52 billion.

“With 7 of the past 10 quarters reflecting year-over-year regression in consumer performance, evidence is mounting to support the notion that credit card users are reverting to pre-downturn bad habits,” CardHub CEO Odysseas Papadimitriou said in a statement.

And as noted above, things were particularly gruesome during the 4th quarter of last year.

According to Alternet, Americans added more credit card debt during those three months than during the entire years of 2009, 2010 and 2011 combined…

Not since we headed into the Great Recession of 2008 have we been quite so loosey-goosey with our credit cards, racking up debt with stunning speed. Of our 4Q totals, CardHub notes, “during this one quarter, we added more debt than in 2009, 2010 and 2011 put together.” That brings dollars owed to credit card companies by each debt-saddled American family up to $7,879, the highest since the Great Recession.

I can’t even begin to describe how unwise this is.  When I was in my twenties, I made the same mistakes that so many other Americans are making right now.  I very foolishly racked up large balances on my credit cards, and it took years of extremely painful payments to fix those mistakes.

In America today, 37 percent of all households maintain credit card balances from month to month, and the average level of credit card debt for those households is $15,700.  The following comes from CBS Minnesota

According to NerdWallet, 37 percent of American households have credit card debt, which is defined as not paying off the full balance every month. Using data from the Federal Reserve of New York, U.S. Census and its own poll, NerdWallet found the average balance for those in …read more

Source: Credit Card Debt In The United States Is Approaching A Trillion Dollars

    

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A Top Performing Hedge Fund Just Went Record Short: Here’s Why

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By Tyler Durden

When we

Outperforming the market is hardly new to Horseman: it has been doing so for four years in a row, and not surprisingly, 2015 was its best year since 2008. 2016 is starting off just as good as the prior year.

What was the source of Horseman’s February outperformance? Recall that in January it was all about short Chinese exposure. This is what the fund was shorting in February:

This month both the long and short equity portfolios incurred small losses while gains came from the long positions in government bonds and the currency positions. Losses came primarily from the small remaining long positions in European banks and from the short positions in the automobile sector. Gains were made in discount retailers in the long portfolio and in financials in the short portfolio.

In the airline industry, the decision to operate a new or an old aircraft has nothing to do with safety or reliability as routinely airliners fly 100,000 hours or more before they are retired out of service. According to Aviation Consultants 360, the Federal Aviation Administration does not disqualify an aircraft based on its chronological age when determining a jet aircraft’s condition or safety. What counts is the aircraft’s current maintenance status, its maintenance history, current required upgrades and engines.

Manufacturers have made significant improvements in engine efficiency, but it only matters when fuel prices are high. Improvements have been made in avionics and communication but these are separate safety issues beyond the safety and reliability of the aircraft’s airframe, and the equipment can be updated. Consequently, for all practical purposes, a well maintained 30 year old aircraft with 10,000 hours on its airframe is as safe and dependable as any new aircraft but costs only a fraction. According to Aviation Consultants 360, in many ways, the older aircraft is safer; it has history and is known to be safe, a huge benefit.

Although Boeing and Airbus revealed record production figures for 2015, net new orders fell by almost half at Boeing and a third at Airbus. An analyst at Citigroup recently pointed that in the aviation cycle before 2008, around 70% of demand for new airplanes was from airlines and leasing companies planning to add capacity, and that since then, demand from customers seeking to replace old planes with new more fuel efficient ones has risen to more than half of deliveries. In our opinion, as fuel prices have fallen, the replacement market is likely to shrink as fuel efficiency is no longer a top priority.

A large part of Boeing and Airbus’ order books has been driven by demand from emerging countries’ low cost airlines (sources: Boeing; Airbus), who in our opinion, may cancel orders in the event of further emerging markets currency devaluations versus the US dollar. During the month we built a short position to aircraft manufacturers and aircraft leasing companies …read more

Source: A Top Performing Hedge Fund Just Went Record Short: Here’s Why

    

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US Rig Count Tumbles To Record (41-Year) Lows

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By Tyler Durden

In April 1999, the total US oil and gas rig count was 488, today, after dropping 9, the total rig count is 480- an all-time record low (since records began in 1975). Oil rigs dropped 3 to 386 (lowest Since Dec 09), the 12th weekly drop in a row (16th of 17 and 17th and 26th of the last 28 weeks). With production up last week, it remains to be seen when the rig count matters once again.

A record low in total oil and gas rigs… (-6 in oil, -3 in gas)

Oil rig counts continue to track a lagged oil price almost perfectly…

Are we close?

Charts: Bloomberg

…read more

Source: US Rig Count Tumbles To Record (41-Year) Lows

    

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Marissa Mayer is in the fight of her life

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Marissa Mayer is fighting for her job, trying to overcome a growing chorus of calls for her dismissal from Yahoo.

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Source: Marissa Mayer is in the fight of her life

    

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