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GE Is Trying To Figure Out Who Knew About Immelt’s “Chase Plane”

The Wall Street Journal broke one of the most memorable news stories of the year over the summer when it reported that former General Electric CEO Jeff Immelt – who bowed out in June amid intensifying pressure to revitalize the company’s long-suffering share price – would routinely use a "chase plane" when flying to foreign […]


Small Business Optimism Spikes To Highest Since 1983, There’s Just One Thing…

The NFIB Small Business Optimism survey hit this morning and it surged to near record highs…   With Small Businesses having never been so excited to hire people ever… Construction, manufacturing and professional services registered notable increases in planned hiring. The figures indicate the recent solid pace of job growth will be sustained and help […]


The 30-Years Bubble – Why America Ain’t That Rich

Authored by David Stockman via Contra Corner, The entire financial and economic narrative in today's Bubble Finance world is virtually context- and history-free; it's all about the short-term deltas and therefore exceedingly misleading and dangerous. So when a big trend or condition is negative and unsustainable, you generally can't even get a glimpse of it from the so-called "high-frequency" weekly, monthly and […]


Tax-Reform Opponents Blast Treasury Report As “Nothing More Than One Page Of Fake Math”

Yesterday, we highlighted a one-page report prepared by the Treasury Department which claimed that – in what was perhaps one of the most unrealistically optimistic budget projections to ever be produced by the US government agency – the Senate’s version of the Republican tax plan would, somehow, bolster GDP to a 2.9% real growth rate […]


Treasury Forecasts Tax Reform Will Lead To Longest Period Without Recession In History

One week ago, in its latest assessment of the current state of tax reform in the aftermath of the Senate’s passage of the tax bill, Goldman analysts calculated that while growth impact from tax reform had increased fractionally to around 0.3% in 2018 and 2019 “reflecting the slightly larger amount of tax cuts in the […]


Interactive Brokers Allows Long-Only Bitcoin Futures Trading (At 50% Margin)

Following the ‘successful’ launch of Bitcoin futures overnight, Interactive Brokers – whose founder had been adamantly against the CME/CBOE product over risk concerns – has enabled clients to trade the crypto-craziness on its platform… but with some notable constraints. Interactive Brokers began offering clients the ability to trade bitcoin futures at the start of trading […]


The Biggest Bubble Ever, In Three Charts

Authored by John Rubino via DollarCollapse.com, Each quarter, Credit Bubble Bulletin’s Doug Noland posts a “flow of funds” report that analyzes the debt and securities markets data released by the Fed in its Z.1 Report. It’s always shocking to see the numbers we’re dealing with, but even more so lately as history’s biggest financial bubble […]


Moment Of Port Authority Explosion Caught On Tape

A clip of the moment an alleged pipe bomb exploded at Port Authority around 6:30am on Monday morning has been released. BREAKING VIDEO: MOMENT OF EXPLOSION AT TIMES SQUARE SUBWAY STATION pic.twitter.com/bb6nEPwfqD — Breaking911 (@Breaking911) December 11, 2017 Meanwhile, according to Sarah Sanders, President Trump has already been briefed on the incident at the Port […]


CBOE Website Crashes As XBT Trading Begins, First Trading Halt As Bitcoin Price Surges

Update: At precisely 8:31pm ET, the CBOE instituted the first ever XBT trading halt, which lasted for two minutes according to a notice on Cboe’s website. XBT contracts have since resumed trading. As a reminder, the Cboe can halt trading for 2 minutes after 10% swings, and 5 minutes at 20%, an attempt to prevent […]


Bitcoin Futures Top $18,000, Soar 20% From Open – Halted for Second Time

Update: At 10:05pm ET,  the CFE halted trading in Cboe Bitcoin Futures (XBT), in accordance with CFE Rule 1302(i)(ii) which defines the threshold for the halt as a 20% surge. XBT will re-open for trading approximately five (5)minutes from the time of the halt. Bitcoin Futures have topped $18,000 for the first time… It was […]


CBOE Website Crashes As XBT Trading Begins, Bitcoin Price Surges

The CBOE’s website crashed within minutes of the CBOE open on Sunday – which also marked the launch of the first bitcoin futures to trade on a major exchange – while the price of a bitcoin spiked 10% in five minutes as the new contract with the ticker XBT fluctuated wildly. The embarrassing crash happened […]


What You’re Not Being Told About The Real Economy

Authored by Jeffrey Snider via Alhambra Investment Partners, The year 2000 was a transition year in a lot of ways. Though Y2K amounted to mild mass hysteria, people did have to get used to writing the date with 20 in front of the year rather than 19. It was a new millennium (depending on your […]


David Stockman Lashes Out At Mainstream Media’s “Peak Fantasy Time”

Authored by David Stockman via Contra Corner blog, If you want to know why both Wall Street and Washington are so delusional about America's baleful economic predicament, just consider this morsel from yesterday's Wall Street Journal on the purportedly awesome November jobs report. Wages rose just 2.5% from a year earlier in November – near the same lackluster […]


Wisconsin Governor Pushes Forward With Plan To Drug Test Food Stamp Recipients

Anyone looking to take advantage of the federal food stamp program in the state of Wisconsin may soon have to pee in a cup before rushing to the grocery store each month for their taxpayer subsidized sugary beverages and assortment of Hostess baked goods.  As the StarTribune points out today, Wisconsin Governor Scott Walker took […]


QE Unwind is Really Happening: Fed Assets Drop To Lowest Level In Over Three Years

Submitted by Wolf Richter of Wolf Street The Fed’s balance sheet for the week ending December 6, completes the second month of the QE-unwind. Total assets initially zigzagged within a tight range to end October where it started, at $4,456 billion. But in November, holdings drifted lower, and by December 6 were at $4,437 billion, […]