Uber, Lyft Unveil Ballot Initiative to Counter California Gig-Economy Law

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https://www.wsj.com/articles/uber-lyft-unveil-ballot-initiative-to-counter-california-gig-economy-law-11572386291?mod=lead_feature_below_a_pos1 Updated Oct. 29, 2019 9:20 pm ET Uber Technologies Inc., Lyft Inc. and other ride-hailing and on-demand companies in California said Tuesday they submitted a ballot initiative that would alter a statewide law intending to reclassify contract workers as full-time employees. The companies are funding the measure, called the Protect App-Based Drivers and Services … Read more

Opinion: Conflict of interest poisons the field of cancer medicine. It is surely a calculated maneuver by the industry to increase its profits.

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via statnews: Americans are rightly furious about the high and unsustainable price of cancer drugs, which now routinely cost more than $100,000 per year of therapy. Those prices are made worse by the fact that most cancer drugs offer only modest benefits — one study put the median benefit at 2.1 extra months of life — along with the … Read more

‘When rising powers have suffered such slowdowns in the past, they became more repressive at home and more aggressive abroad. China seems to be headed down just such a path.’

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'When rising powers have suffered such slowdowns in the past, they became more repressive at home and more aggressive abroad. China seems to be headed down just such a path.' https://t.co/4wojaTsFZ2 — Jesse Felder (@jessefelder) October 30, 2019 The defining geopolitical story of our time is the slow death of U.S. hegemony in favor of … Read more

Largest privately owned US coal mining company files for bankruptcy protection

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Ohio-based Murray Energy filed for Chapter 11 bankruptcy joining a growing list of bankrupt or struggling miners as utilities switch away from coal. The company seeks to restructure nearly $3 billion in debt and obtained some $350 million in new loans to continue operating during the bankruptcy proceeding. Murray Energy was the country’s fourth largest … Read more

No wonder why business investment is faltering…

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and no wonder why bus investment is faltering pic.twitter.com/yUww7uD4fG — Alastair (@StockBoardAsset) October 30, 2019 pic.twitter.com/0RxszBFQx6 — M/1_LP (@MI_Investments) October 30, 2019 So true.@SoberLook pic.twitter.com/YokfQDLCs9 — Kevin C. Smith, CFA (@crescatkevin) October 30, 2019  

Dallas, Minneapolis, Chicago, Charlotte, Atlanta, Detroit, Cleveland: From Smaller Housing Bubbles to Crushed Markets

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Prices in red-hot Dallas slow. Chicago condos flat for the year. Formerly crushed Detroit up 100% in 7 years. Cleveland struggles out of crushed status. Yesterday, we did The Most Splendid Housing Bubbles in America — such as the San Francisco Bay Area, New York City metro, the Miami metro, Seattle, and other … Read more

The Political Parties and the Media Have Abandoned the Working “Middle Class”

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by Charles Hugh-Smith Where is the line between “working class” and “middle class”? Maybe there isn’t any. Defining the “middle class” has devolved to a pundit parlor game, so let’s get real for a moment (if we dare): the “middle class” is no longer defined by the traditional metrics of income or job type (blue collar, … Read more

Chinese Oil Giant Crashes On Abysmal Earnings Report

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By Tsvetana Paraskova Chinese oil and gas giant PetroChina reported on Wednesday a 58-percent plunge in its third-quarter profit as lower oil prices, fierce domestic fuel competition, and slowing gas demand growth weighed on earnings. PetroChina booked a net profit of US$1.25 billion (8.83 billion Chinese yuan) in Q3, down by 58.4 percent from the same period … Read more

Visualizing the Stages of Startup Funding

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by visualcapitalist About 1,500 new companies are founded every day. However, only a fraction of these entrepreneurial pursuits will eventually operate on a grand scale. With many of these companies propelled by venture capital funding, how do investors provide the cash—and get a piece of the startup pie? Pie in the Sky Today’s creative infographic from Fundera uses pie … Read more

Mapping the Population of Global Millionaires in 2019

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by howmuch More millionaires live in the U.S. than any other country in the world, and it’s not even close. That’s according to the 2019 Global Wealth Databook by Credit Suisse. Here’s how the U.S. compares to the rest of the globe. The U.S. has 18.6M millionaires, more than any other country in the world. Europe has more … Read more

Bernie Sanders and Elizabeth Warren Caught Up in Quid Pro Quo Scandal: Both Promised to Withhold Aid Until Demands are Met

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This flew under the radar? @ewarren (AND @BernieSanders) promised to withhold aid from Israel if they don't change their stance on settlements. AKA … A Quid Pro Quo. Why no fury from the PR Dept of the Democrats?https://t.co/FqANUF3w9c — Daniel Bobinski (@gc2life) October 30, 2019 Elizabeth Warren could pull U.S. military aid from Israel if … Read more

Federal Reserve Spokesman Explains How It Creates Money Out of Thin Air to Pump Out to Wall Street

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by Pam Martens and Russ Martens, Wall St On Parade: On January 19, 2011, the Federal Reserve released a video on YouTube to quell the public uproar over its unaccountable money creation operations. The spokesman for the Fed in the video was their Senior Adviser at the time, Steve Meyer, now an Adjunct Professor of Finance at The … Read more

Another day, another example of progressives’ double standards: Taco truck owner apologizes for serving ICE employees

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by DCG A taco truck owner in Buffalo, NY was forced to apologize for serving ICE employees. He later took back that apologize which make the progressives even madder. Heaven forbid a business owner be allowed to make a buck off his tacos. No sir, you can’t serve ICE employees! But you know, you’d better bake that cake! … Read more

Is Market Sanity Around the Corner?

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By Rodney Johnson I never understood WeWork. The company either purchased or took long-term leases on commercial properties. It dressed them up with Millennial-friendly details like beer taps and cool art, and then re-leased the space in very small increments for a higher price. Leave out the cosmetics, and you’ve got a traditional commercial leasing … Read more