Authored by Nick Cunningham via OilPrice.com, A wave of oil and gas wells abandoned by bankrupted drillers could cost the U.S. government hundreds of millions of dollars. A new report from the U.S. Government Accountability Office (GAO) studied oil and gas wells drilled on federal lands, and found that the public could get stuck with a significant … Read more
by Mac Slavo of SHTFplan The massive wave of store closures and layoffs in the retail sector has gotten so bad this year, it’s been dubbed the “retail apocalypse.” But not only is it causing problems in the economy, Goldman Sachs thinks it is still likely to get much worse. “Our REITs team does not expect a near-term … Read more
By: R. Christopher Whalen New York | Last week’s volatility in the market for fed funds gave a lot of equity managers an opportunity to brush up on their understanding of the workings of the short-term money markets. The Fed of New York was forced to offer cash to the Street in the form … Read more
via NYT: This was supposed to be the year when America’s biggest start-ups would finally make their triumphant debut on the stock market. Billionaire Silicon Valley investors, sneaker-clad founders and button-down bankers all expected enormous stock sales to turn companies like Uber, Lyft and WeWork into a new generation of corporate giants. It hasn’t quite turned out … Read more
by The_In-Betweener With certain issues there is an automatic suppression of taboo subject matter, dissenting ideas and of critical thinking individuals. The systematically disappeared. https://www.sentinel-standard.com/opinion/20190926/letter-be-silent-or-prepare-for-consequences There is a silencing that pervades U.S. politics and its mainstream echoing media chamber. With certain issues there is an automatic suppression of taboo subject matter, dissenting ideas and of critical … Read more
By Robert Ross An entire class of high-yield stocks just got a big boost. Fed Chairman Jerome Powell announced last Wednesday that the central bank will cut interest rates by 0.25%. But we expected this. Investors had already priced in a 100% probability that the Fed would cut rates, according to global brokerage CME Group. This … Read more
Debt can be a real thorn in your side — especially high-interest unsecured debt, like credit card balances and medical expenses. When compound interest keeps driving up how much you owe, sometimes it feels like you’ll never be able to escape your debts. So, you start considering more drastic options. You might even … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter House cleaners come in, halt all new leases, dump side businesses, sell corporate jet, lay off thousands, purge “Adam’s posse” – in just two days. WeWork is fighting for survival. It’s burning through so much cash that it needs billions of dollars pronto. The collapsed IPO dream has cut off the money pipeline … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter On the surface, Miami’s condo market is in trouble. But beneath the surface, “the whole system is jammed up.” Signs have been piling up that the Miami condo market, where luxury towers are still sprouting like mushrooms, is getting into serious trouble. This has not yet made its way into the … Read more
by laik72 I just read a great article about how things got so bad at WeWork prior to the IPO, it was beyond Neumann paying himself ridiculous amounts of money or Son Masayoshi making a valuation mistake… it was about deliberate valuation manipulations in order to eventually get public investors to bail them out with an ultimate … Read more
FRANKFURT, Germany (AP) — A member of the European Central Bank’s leadership has resigned after publicly questioning the need for the bank’s stimulus efforts, opening an unexpected vacancy on the institutions’ top executive body amid public criticism of its policies by some of its own officials. Sabine Lautenschlaeger’s resignation comes amid criticism in her native … Read more
via mises: The idea of a “third way” in economic policy has fascinated politicians, scholars, artists, and the voters around the world. Surfing this wave, the welfare state has spread quickly in recent decades. Some even say that Nordic countries are the definitive evidence that it is possible to deliver a prosperous and egalitarian society through … Read more
Repo Meltdown Shows Budget Deficit Has Limits (Bloomberg Opinion) — The repo market madness lives on for a ninth day. The Federal Reserve Bank of New York announced Wednesday that it would increase the size of its next overnight system repurchase agreement operation to a $100 billion maximum, from $75 billion previously, and also raise the … Read more
via UPFINA: In the week of September 21st, the Redbook same store sales growth rate fell from 5.4% to 5.2%. That’s still very strong growth; the tariffs haven’t slowed spending. As the chart below shows, it will face very tough comparisons in December. Notably, it strayed far from retail sales growth in that month as December … Read more
by TheWorstTroll What do Uber, Lyft, WeWork, Doordash, and just about every other too good to be true bullshit company have in common? They don’t make any fucking money! There is like, a shitload of billions of dollars wrapped up into these companies that have zero endgame. They fooled a bunch of rich pricks into … Read more
https://www.ft.com/content/7465729e-dfdb-11e9-b112-9624ec9edc59 SoftBank is in talks with WeWork to increase a $1.5bn investment… SoftBank is considering promising an extra $1bn or more to change the terms of a warrant agreement it struck this year with WeWork… A recut deal would see SoftBank invest at least $2.5bn, but would reduce the price per share at which it … Read more
by spoony20 I have been a day trader for 10 years and i have been trading with many ppl around the world. The only ones that survived are those with a large capital. Lets take Bob as an example. Bob has a $10,000 account. Bob trades every day, spending hours and hours each week … Read more
GREENWICH, Conn.–(BUSINESS WIRE)–Interactive Brokers Group, Inc. (IEX: IBKR) today announced IBKR Lite, a new offering that will provide commission-free, unlimited trades on US exchange-listed stocks and Exchange Traded Funds. IBKR Lite was designed to meet the needs of investors who are seeking a simple, cost-free way to trade US exchange-listed stocks and ETFs and do not wish to … Read more
by DianaPrinceLives I have read many posts on here about people complaining that they’re aren’t paid enough, just found out they aren’t paid as well as others at their company, or are verbally told they are getting a raise but never get it in writing. I own a business and employ over 50 people. I … Read more
U.S. Income Inequality at Highest Level in 50 Years The gap between the haves and have-nots in the United States grew last year to its highest level in more than 50 years of tracking income inequality, according to Census Bureau figures.