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“A Potential Nightmare Scenario For The GOP”: Tax Vote Delayed To Friday; May Include $350BN In New Tax Hikes

Update: The Senate tax plan roll vall vote which was widely expected to take place on Thursday evening, has been pushed back to 11am on Friday following the collapse of the “Trigger” compromise (discussed below) to win a majority for a Senate tax overhaul left Republicans scrambling to salvage the legislation, Bloomberg reports. While debate […]


Senate Bill Nearly Killed By Deficit Hawks: Will Include $350 Billion In New Tax Hikes

Following a report from the Joint Committee on Taxation, which unveiled late on Thursday afternoon that the Senate Tax bill would generate enough economic growth to lower its $1.4 trillion revenue cost by only about $458 billion over a decade – in other words it would still boost the deficit by roughly $1 trillion – […]


Crypto Carnage Continues As The Fed Warns Digital Currencies Could “Pose Serious Financial Stability Issues”

Update: Bitcoin and Ethereum are holding at the lows of the day, but following ECB comments earlier (see below), The Fed's vice chariman of supervision, Randy Quarles, warns that digital currencies like bitcoin pose "serious financial stability issues" as they grow… Today, the vast majority of our payments by volume and value are processed by […]


Why Eliminating The State And Local Tax Deduction Is A Terrible Idea

Authored by Ryan McMaken via The Mises Institute, The tax "reform" currently being discussed in Washington is mostly a political exercise for politicians who can use the process to extract more campaign contributions from supporters, and punish non-supporters. The actual tax burden imposed on Americans overall will change little. The proposed elimination of the deduction […]


Russia Plans First-Ever Sale Of Yuan Bonds

As Russia braces for further sanctions from Washington D.C. over their alleged role in “meddling” in the 2016 U.S. election, they are reportedly prepping a $1 billion yuan-denominated bond issuance in an effort to preemptively diversify financing risks away from the West.  According to Bloomberg, the sale will total 6 billion yuan and could come […]


“We Fought Hard But Did Not Deliver”: $2.2BN Hutchin Hill Is Shutting Down

With several months having passed since the last prominent hedge fund closure, the recent narrative that the 2 and 20 community was doing exceedingly well to close out the year (with long/shorts piling into tech names with record leverage), was starting to gain traction. That may have changed this afternoon, when Reuters reported that well-known […]


White House Says It Is “Monitoring The Bitcoin Situation”

In the past few days two Federal Reserve presidents have discussed cryptocurrencies and concluded they are "niche" and "don't matter today." The total market capitalization of the entire cryptocurrency space is around $300 billion – smaller than the Top 10 names in the S&P 500. In the last three years, Bitcoin has gained a similar […]


Obese Millennials Jeopardize America’s Future: Study

A new study from the New England Journal of Medicine indicates the current obesity epidemic trends in the United States are much worse than thought. The study was published on Wednesday and already has demographers, government officials, and scientist alarmed. The sobering report finds 57.3% of the nation’s children and teens will be obese by […]


This Time Is Different – Part I: What Bitcoin Isn’t

Authored by Mark Jeftovic via Medium.com, “[Bitcoin] won’t end well, it’s a fraud…worse than tulip bulbs…[but] if you were a drug dealer, a murderer, stuff like that, you are better off doing it in bitcoin than U.S. dollars,” — Jamie Dimon: CEO, JP Morgan   Headline: JPMorgan Guilty of Money Laundering, Tried To Hide Swiss […]


Hyperinflation: Much Talked About, Little Understood

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Professor Liping He from Beijing Normal University has produced a most comprehensive and useful scholarly treatment of world hyperinflation. It is hot off the press. This is a welcomed addition to the literature. Indeed, Hyperinflation: A World History is destined […]


“Huge Bag Of Sex Toys”: At Least 8 Women Now Accuse Lauer Of Harassment

It’s been just over a day since a shaken Savannah Guthrie informed Today Show viewers that her former co-host Matt Lauer had been fired due to allegations of sexually inappropriate behavior – the latest, and one of the highest-profile casualties in the widening national reckoning with sexual harassment in the workplace. And now, NBC’s top […]


McCain Mania Sends Dow Soaring To Record Highs As Yield Curve Collapse Continues

The longest short-squeeze streak in history continues…   John McCain's "Yes" at 1051ET seems to have been the catalyst that extended overnight gains into melt-up mania… (Small Cap smanaged to scramble back green on the day as Trannies rose 2%)   But the Nasdaq remains red on the week…   Futures show the crazy moves […]


Adam Schiff Says Sessions Refused To Say If Trump Asked Him To Hinder Russia Probe

Adam Schiff, the ranking member of the Intelligence Committee, has accused Attorney General Jeff Sessions of refusing to disclose information of vital importance to his committee’s probe into collusion between the Russians and the Trump campaign by relying on a loose interpretation of executive privilege. To wit, following the attorney general's closed door testimony before […]


Stockman: “Bitcoin Is The Poster-Boy For An Unhinged Financial System”

Authored by David Stockman via Contra Corner blog, The lemmings are now in full stampede toward the cliffs. You can literally hear the cold waters churning, foaming and crashing on the boulders far below. From bitcoin to Amazon, the financials, the Russell 2000 and most everything else in between, the casinos are digesting no information except the price […]