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Archive Monthly Archives: November 2017

Trump Jr. To Meet With House Intel Committee Next Week

In a hearing that we imagine will provide much of the leaked fodder for CNN and MSNBC news coverage over the coming week (certainly once leaked copies of the testimony are distributed to the NSA’s favorite media outlets, WaPo and NYT), CNN reports that Donald Trump Jr. has agreed to testify before the House Intelligence […]

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Momo Massacred, Semis Slaughtered After Topping 2000 Peak, Nasdaq 'VIX' Spikes

CNBC busily defending the utter bloodbath in semi stocks as nothing to worry about… but this is the biggest plunge for these market darlings since Brexit (June 2016)… …and just happens to have occurred as the index finally cleared the 2000 dotcom peak…   FANG Stocks are getting smashed – the biggest drop since Feb […]

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Is This Why Tech Stocks Are Tumbling?

Is this what happens when the bagholder-of-last-resort is removed from the market? As we detailed earlier in the year, institutions and hedge funds have been using this exuberant rally in stocks to dump their holdings to retail admirers. So what happens when arguably the largest retail brokerage – where all the “useful idiots” reside – […]

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The Problem Isn’t Robots, The Problem is Attitude

Via The Daily Bell Robots are taking our jobs. We all know that by now. And it sounds scary. But it really isn’t. It is understandably upsetting if you are one of the people who will be out of a job. There can be growing pains as the economy shifts. People who thought they were all […]

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WTI Tumbles Below $57 As OPEC-Hype Fades

Goldman’s Damien Courvalin seems to have perfecvtly summed things up – the market was pricing in an OPEC production cut extension of 6-9 months (accounting for around a $2.50 premium in the price). Today’s jawboning from Russia seems to signal April discussions (so a 6-month extension) which is a disappointment – and so WTI prices […]

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Did Janet Yellen Just Recommend Buying Bitcoin

Janet Yellen’s last semi-annual testimony before Congress as Fed Chair has just concluded, and as usual it was filled long-winded platitudes, which were enough to make the blood of anyone actually listening to her slow-motion drawl, come to an instant boil. For one, Yellen hypocrisy hit bitcoinian levels when she had the temerity to say […]

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Lira Plunges As Mystery Gold Trader Exposes "Secret" Turkish Deal To Evade Washington's "Economic Jihad"

We detailed below that TRY was selling off on US accusations that the Turkish economic minister of taking bribes.   Citi’s FX desk explains why Turkish markets are watching the US trial of a banker so closely. The basics: The US government has accused Turkish banker Mehmet Hakan Atilla of helping Iran evade US sanctions. […]

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Trump: "I Don't See A Deal" On Keeping Government Open, Leading To Bill Turmoil

President Trump said he will meet on Tuesday with the Democratic leaders of the U.S. Senate and House of Representatives, Chuck Schumer and Nancy Pelosi, to discuss keeping the government open. But, in a tweet, Trump cast doubt on whether they can agree to fund the government beyond a Dec. 8 deadline, saying: “I don’t […]

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Why Bitcoin-Mining May Be Elon Musk's Next Big Problem…

If you thought Tesla was burning cash now, wait until this latest scheme goes mainstream… As EcoMotoringNews.com reports, some creative Tesla owners came up with a way to make a few bucks from their parked EVs: Cryptocurrency mining. This raises questions that shouldn’t just be aimed at bitcoin mining, or even electric vehicles. For those […]

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Top Democrats "Abruptly" Pull Out Of White House Meeting After Trump Twitter Attack

Following this morning’s tweet, in which Trump said that he was meeting with top Democrats Chuck Schumer and Nancy Pelosi to keep the government open, but because “they want illegal immigrants flooding into our Country unchecked”, he “doesn’t see a deal“, and which sent the T-Bill market turmoiling as mid-December government shutdown odds surged, moments […]

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