by Brandon Smith Since the beginning of this year, I have been warning that trade tariffs initiated by Donald Trump would develop into a full-blown trade war with China, and perhaps other nations, and that the timing of this trade war is rather suspicious. Suspicious how? Almost every instance of further escalation was made by Trump … Read more
HMM: Did Clinton Foundation mislead IRS? State filings raise the question. The Utah episode, though a decade old, and other state regulatory issues involving the Clinton Foundation are gaining new attraction because they are included in thousands of pages of documents gathered in a whistleblower submission filed last year by a firm composed of former federal … Read more
by NaturalHedgehog Each day I go through the top rising and falling stocks today, and look for (a) what the company actually does, and (b) why the stock is moving so much. Hopefully this saves you some digging! Below are my notes from 12 December 2018 as of mid-morning. (This list is limited to companies … Read more
by John Coumarianos This past weekend in the NYTimes, Nobel-laureate economist Robert Shiller sounded the alarm on housing again. For those who don’t know, Shiller called the stock market bubble of the late 1990s and the housing bubble of the following decade. He is famous for his house price index and for his method of stock … Read more
by DCG The employee’s mom didn’t raise a wussy. From NY Post: A CVS employee from Indiana says both he and a pharmacist were fired after fighting off a man threatening to steal oxycodone. CVS axed Zac Phillips, from Greenfield, days after he and the pharmacist, who is not being publicly identified, tackled suspect Jagger Maupin, 22, to the … Read more
From The Hill: Google CEO Sundar Pichai Tuesday responded to Rep. Steve King‘s (R-Iowa) confusion over why he sees unwelcome news on his iPhone, telling King, “Congressman, iPhone is made by a different company.” After @SteveKingIA raises inscrutable concerns about iPhones, Google CEO Sunday Pichai patiently informs him, "Congressman, iPhone is made by a different company." pic.twitter.com/TiNZ1t3VRo … Read more
by Fabius Maximus Summary: Hubris is the great destroyer of Empires. The mad American Empire might be the next to go. It costs much, brings no economic benefits (no treasure ships coming home, no boost to our exports), and multiplies our enemies. We can learn from Britain’s imperial history, as in these quotes from Keynes and … Read more
by moneymetals Richard Cantillon is the most important economist you’ve never heard of. Born in Ireland sometime in the mid- to late-1600s, Richard Cantillon’s contributions to economics are found in his major work, Essai sur la Nature du Commerce en General (Essay on the Nature of Commerce in General). In 1734, Cantillon was mysteriously murdered by a disgruntled … Read more
by Thinker Since 2011, the angelic looking congressman from South Carolina Trey Gowdy has relentless worked to expose corruption at many levels of government, only to see his hard efforts to stop before the steps Department of Justice failing to prosecute the guilty. Documents that the American people are slowing seeing are exposing the “TRUTH” … Read more
Russia investigation started with four Americans with ties to Trump, Russia https://www.usatoday.com/story/news/p…
Beto O’Rourke Overtakes Biden As Dem’s Top 2020 Candidate In New Poll. “You can be a failed Senate candidate with not much in the way of accomplishments except a bad rap for stealing land from the poor and trying to flee a drunk driving incident, and STILL be the number one choice for Democrats in 2020.” … Read more
TOKYO — Prosecutors on Wednesday proposed a 10-year prison term for Mark Karpeles, the former CEO of Tokyo-based Mt. Gox, which at one time was the world’s largest bitcoin exchange. The prosecutors accuse Karpeles of embezzling about 340 million yen from accounts that Mt. Gox managed on behalf of clients, doing so in the final … Read more
from Zero Hedge The world is about to get a whole lot dirtier. On Monday, global cleaning giant Denmark’s ISS A/S, which is also one of the world’s largest private employers, pulled a page right out of the Fifth Element when it announced plans to fire about 100,000 workers as it exits 13 countries that were among its … Read more
by Dana Lyons Volatility continues to be the theme on Wall Street as exemplified by yesterday’s action. The S&P 500, for example, plunged nearly 2% at one point during the day before rallying all the way back to close higher on the day. And, in fact, it was the 2nd such reversal in the past few … Read more
https://twitter.com/OccupyWisdom/status/1072759212122476544 Yep, Bitcoin was a bubble. And it popped. https://t.co/RFl50WlXw1 (via @Bopinion) pic.twitter.com/90HSOIVqme — Bloomberg Crypto (@crypto) December 11, 2018 https://twitter.com/OccupyWisdom/status/1072747112557936640 https://twitter.com/OccupyWisdom/status/1072738111556333569 https://twitter.com/IncomeDisparity/status/1072478322276352000
by theNonlinearity 30 rock made GE look like such a great company, here are 10 reasons it’s gone downhill 1 – Management turnover Jeff Immelt was CEO from 2001 to 2017, and GE had succession plan where John Flannery took over in August 2017. Flannery was fired in October 2018 and replaced with … Read more
by Dave Macron throwing money at the protesters doesn’t come for free, apparently. http://feeds.reuters.com/~r/Reuters/worldNews/~3/7_58ojoehmQ/macrons-concessions-set-to-blow-out-french-deficit-idUSKBN1OA20M Any bets that the EU is going to give France an Italy-style spanking over this failure to budget properly? Since Macron is a charter member of the club, I’m just gonna guess that France will get a pass, while, with a … Read more
by kiwimancy Main paper: https://www.bankofcanada.ca/wp-content/uploads/2018/12/sdp2018-15.pdf Mentioned in money stuff: https://www.bloomberg.com/opinion/articles/2018-12-11/a-happy-anniversary-for-madoff-s-scam The paper discusses four ways of improving liquidity of canadian government bonds which should lower the cost of their debt. The last of these is pretty interesting, proposing that they would buy back the currently outstanding bonds which have many different maturities and rates and aren’t easily … Read more
USA TO CONDEMN CHINA – Source The Trump administration is preparing a series of actions this week to call out Beijing for what it says are China’s continued efforts to steal America’s trade secrets and advanced technologies and compromise sensitive government and corporate computers, according to U.S. officials. Multiple government agencies are expected to condemn … Read more
via reuters: A worrying sign of inversion in the U.S. Treasury bond curve is dulling the appeal of the developed world’s highest-yielding bond market for foreign investors. Overseas investors are reviewing their investments or shunning Treasuries as rates at the short end rise above those at the longer end and make it unprofitable for holders of … Read more