“We Are Headed For The Status Of A Colony”: Boris Johnson’s Full Resignation Letter

The much anticipated resignation letter penned by the former UK Foreign Minister Boris Johnson has been released, and in as expected, he does not mince his words in unleashing a brutal attack on Thersa May, warning that “we have postponed crucial decisions — including the preparations for no deal, as I argued in my letter to you of last November — with the result that we appear to be heading for a semi-Brexit, with large parts of the economy still locked in the EU system, but with no UK control over that system.”

He then adds that while “Brexit should be about opportunity and hope” and “a chance to do things differently, to be more nimble and dynamic, and to maximise the particular advantages of the UK as an open, outward-looking global economy”, he warns that the “dream is dying, suffocated by needless self-doubt.

He then compares May’s proposal to a submission even before it has been received by the EU, noting that “what is even more disturbing is that this is our opening bid. This is already how we see the end state for the UK — before the other side has made its counter-offer. It is as though we are sending our vanguard into battle with the white flags fluttering above them.” ...read more

Trump Slams Pfizer, Warns “We Will Respond” To Rising Drug Prices

Once again, with the swipe of a few digits, President Trump has knocked a few billion in market cap of stocks as he tweeted that Pfizer and others “should be ashamed that they have raised drug prices for no reason,” criticizing the company for offering cheaper prices abroad than in the U.S. and pledging that “we will respond.”

Is The “Ghost Of 2015” Back: Goldman Answers

Last week, JPMorgan spooked investors when looking at recent moves in Chinese markets, it concluded that “2018 Is Looking Increasingly Like 2015.” Now, in a note seeking to address this issue (and to ease investor concerns) Goldman analyzes the similarities and differences between 2015 and 2018 to see if JPM is right, and if indeed the “ghost of 2015” is back.

Goldman’s note comes just days after a separate Goldman analysis in which the bank wrote that “the past week we met with investors in Guangzhou and Shenzhen, and the tone remains very negative” for one reason: most investors suddenly feel as if they have lost the backstop of the central bank, which until recently would never allow corporate bankruptcies, and suddenly – as part of the country’s deleveraging campaign – is eager to take air out of the system, while at the same tine draining liquidity out of the system resulting in financial conditions approaching the tightest on record.

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Mueller’s “Pit Bull” Attorney Arranged Secret “Black Ledger” Meeting With AP Reporters

Documents released Friday by the Department of Justice confirm that a DOJ attorney known as Robert Mueller’s “pit bull” arranged an April 11, 2017 meeting with journalists to discuss their investigation into Paul Manafort in which information may have been leaked back and forth concerning the case.

At question is the FBI’s relationship with AP – and whether or not the FBI leaked information about the Manafort case to them or vice-versa.

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Republicans Face Narrow Margin Of Error In SCOTUS Nomination Battle

With President Trump preparing to announce his Supreme Court pick tonight at 9 pm, it appears restive social conservatives are making some headway in their last-minute push to dissuade the president from going with the purported frontrunner, US circuit judge Brett Kavanaugh. However, as Axios pointed out, the push to nominate a deeply conservative justice could be scuttled by moderate Republican senators, who could easily sink a nomination that they don’t support.

As Axios explains, “Republicans have a narrower margin for error than they did when the Senate confirmed Trump’s first Supreme Court nominee, Neil Gorsuch by a vote of 54-45 in April 207.”

SCOTUS ...read more

Tourist Sentenced To 8 Years In Prison For Insulting Egypt On Facebook

Via MiddleEastMonitor.com,

A Lebanese tourist who was arrested last month for posting a video on Facebook complaining of sexual harassment and conditions in Egypt was sentenced to eight years in prison by a Cairo court on Saturday, her lawyer told Reuters.

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“Craziness Becoming Strategic” – NATO Leaders In Panic Mode Ahead Of Trump Visit

The Washington Post asks ‘Will NATO survive Trump?’ ahead of a summit with NATO leaders this week as bureaucrats in Brussels voice concern over his potentially disruptive ‘America first’ rhetoric, and as the president is set to meet with Vladimir Putin only days later in their first one-on-one meeting.

In a characteristically over-dramatic tone, WaPo answers concerning NATO leaders, “Now they’re worried about something bigger: a full crackup of the alliance, or at least such a weakening of Washington’s security commitments that NATO would emerge deeply damaged.”

“It’s one thing if he goes to the G-7 and is rude to people,” a senior NATO diplomat told the Post while speaking on condition of anonymity. “It’s another thing to derail NATO.” ...read more

Twitter Tumbles 8% After Culling 20% If Its ‘Users’

Well, what did you expect?

After slashing users at a rate of 1mm per day – removing as many as 20% of the total – it appears shareholders are questioning the smoke and mirrors they have been sold by Jack Dorsey at Twitter…

This is the biggest drop since March – for the company that was up 93% year-to-date before today. ...read more

Trump Says China May Be “Exerting Negative Pressure” On North Korea Deal

Over the weekend, when discussing the latest provocative comments by North Korea’s state media following Mike Pompeo’s fruitless visit to Tokyo to push for further denuclearization by Pyongyang, and which Kim envoys slammed saying the country’s “resolve for denuclearization” may falter, we said that “Trump’s denuclearization plan will have to wait even as the risk that all progress achieved so far in bilateral negotiations collapses.”

Why? Because recall that China was the real puppetmaster behind the Trump-Kim summit… and suddenly Beijing is not very happy with Trump (for obvious reasons), which means that China’s response to Trump’s trade war may emerge in the realm of diplomacy as Xi does everything he can to undo any/all progress achieved in talks between Trump and Kim, potentially sending relations between the US and North Korea back to square one.

We followed this up with a tweet saying that ” China was the real puppetmaster behind the Trump-Kim summit, and now China is not very happy with Trump” ...read more