Consider this the first and last time we plan on bringing up the Oil spill disaster in the Gulf of Mexico. We don’t agree that 2018 futures should be trading at a $20 premium to near term WTI spots, and we think the trend of Crude Oil will ultimately continue lower, so we haven’t given this story much attention. That said, the ramifications on unemployment and the general economy of the U.S. Gulf Coast are becoming tangible and necessary for all to understand. Take 3 1/2 minutes of your day and listen to those affected by the disaster in their “own words”, in this Bloomberg Video Report…

In plain English and within the scope of Econ 101, the infamous Nouriel Roubini weighs in on the recently announced $1 Trillion EU debt purchase backstop; discounting its potential for success and identifying roadblocks that may lead to failure.

Specifically, Roubini states that despite the “money on the table”, the following three headwinds oppose a return of normalcy in the European Union’s debt markets.

Elliot Wave International chief market analyst Steve Hochberg applies Elliot Wave market timing theory to the current market dynamics. Indicators of sentiment including the S&P 500 put/call ratio, insider trading, and a crashing CBOE Volatility Index are cited as evidence for an eminent sell-off in riskier assets globally.

Click below to see Steve make his case on CNBC’s Squawk Box…

The “bond king” of PIMCO, Bill Gross, tells Bloomberg and the world his strategy on the issue of Greek debt… “Stay away!” In the interview, Gross explains recent moves of the Absolute Return PIMCO fund, including record low holdings of Long Term U.S. debt and increased holdings of “core” European bonds, most notably Germany. Having
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