Is the Everything Bubble Ripe Yet?

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Suddenly – I mean the signs had been everywhere for a long time and “suddenly” doesn’t really apply – the whole house of cards came tumbling down. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: I just listened to a friend of mine, telling me how he now feels comfortable with … Read more

Italian Government Falls for no valid reasons, Salvini to blame

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via CNBC: There has been clear confrontation between the two-party coalition — formed of the leftist, anti-establishment Five Star Movement (M5S) and the anti-immigration, populist Lega party. Lega is currently polling ahead of all other Italian parties at 38%. “Let’s quickly give the say back to the voters,” Matteo Salvini, deputy prime minister and Lega … Read more

Frontier said it wouldn’t take any questions from investors during its quarterly earnings call yesterday

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https://arstechnica.com/information-technology/2019/08/isp-frontier-is-failing-so-badly-it-wont-take-questions-from-investors/ Frontier Communications yesterday reported lower revenue and a $5.45 billion goodwill impairment charge, and it warned investors that its revenue will continue to decline in future quarters. Frontier’s financial performance is so bad that the company said it wouldn’t take any questions from investors during its quarterly earnings call yesterday. Frontier reported second-quarter revenue … Read more

A comprehensive analysis on Facebook ($FB)

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by u—wot—m8 With all the recent controversy surrounding Facebook, today we are going to analyze Facebook’s business fundamentals, growth potential, risks, valuation, and ultimately decide whether or not it makes sense to be a shareholder of the social media giant. Unless stated otherwise, all numbers and statistics presented below are as of August 7th, 2019. … Read more

Another Chinese bank looks to have collapsed, the third since May – Unit of China’s sovereign wealth fund takes over Xiao Jianhua-linked Heng Feng Bank in third case of nationalisation since May

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by NineteenEighty9 via scmp: If three US banks of this size all collapsed within a few months of one another like this it would be front page news. China looks to be at risk for a serious banking/financial crises… or already in one. Central Huijin Investment will invest in Heng Feng Bank to increase its capital … Read more

Soros Launches Super PAC for 2020 – to give more than $20 Million dollars – International Political Collusion

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Soros launches super PAC for 2020 Democratic megadonor George Soros is creating a super PAC, called Democracy PAC, to serve as a hub for his 2020 election spending. Soros has so far put $5.1 million into the PAC, according to paperwork filed with the Federal Election Commission on Wednesday. His $5.1 million contribution was the … Read more

When in Rome, get Italian citizenship

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by Simon Black It was probably after 2am last night when I walked up the stairs to bed after a marathon seven hour dinner. But that’s pretty normal here. This is the eighth year in a row I have spent my summer holiday at this 400 year old villa in the Italian countryside. I invited a … Read more

Steve Keen: Could A Debt Jubilee Really Work?

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Peak Prosperity, Released on 8/7/19 One way or another, we’re going to have to address the $trillions of outstanding bad debts. Over the past decade, the world’s central banks have distorted the price of money by bringing interest rates to record lows. With credit so cheap, asset prices have risen dramatically as companies and governments … Read more

Political violence is as American as apple pie

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by Fabius Maximus Summary: Mass murders are sad but relatively small problem. Political violence is an endemic problem, as American as apple pie. Its dark force has often shaped American history, and will again in the future. Unless we stand together to fight it. “A firm union will be of the utmost moment to the peace … Read more

How Can a Company Lose $5.2 Billion on $3.2 Billion in Revenue? Uber Shows How

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter And rideshare revenue is stagnating. Uber’s losses have been legendary for years, ever since they were being leaked to the public while it was still a privately held company. But this takes the cake. Uber reported this evening that it had lost $5.24 billion in the quarter through June 30. The thing is, … Read more

TEXAS AGAIN: MAN ARMED with AR-15 KILLS 2 in rush HOUR traffic in HOUSTON, TEXAS! ACTIVE SEARCH

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BREAKING: Man armed with AR-15 kills 2 in rush hour traffic in Houston, Texas. https://t.co/g0gd0lO23n — Brady | United Against Gun Violence (@bradybuzz) August 9, 2019 HOUSTON, Texas (KTRK) — As police search for the suspects who killed two men with an AR-15 on the East Freeway in the middle of rush hour traffic, Jacinto City … Read more

You Have to Buy Bonds Even When Rates Are Low

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By Jared Dillian Interest rates are currently low. That is by far the biggest concern among bond investors. They are drowning in worry about low interest rates and their effect on bonds. So let’s address that. Saying interest rates are currently low is another way of saying that bonds are expensive—which makes people not want to invest … Read more

Corporate Debt Is at Risk of a Flash Crash

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By John Maudlin The world is awash in debt. While some countries are more indebted than others, very few are in good shape. The entire world is roughly 225% leveraged to its economic output. Emerging markets are a bit less and advanced economies a little more. But regardless, everyone’s “real” debt is likely much bigger, since … Read more

Nasdaq, Yuan Tumble After US Pulls Huawei Licenses

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via Zerohedge: US equity markets are tumbling after hours following reports from Bloomberg that, according to people familiar with the matter, The White House is holding off on a decision about licenses for U.S. companies to restart business with Huawei after Beijing said it was halting purchases of U.S. farming goods. American businesses require a special license to supply … Read more