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Civil Servants Are Deliberately Destroying Documents From The UK’s National Archive

In yet another galling example of historical revisionism put into practice, the Guardian reported Tuesday that thousands of documents from the National Archives have gone missing in recent years – and some may have been deliberately destroyed by civil servants hoping to purge unflattering details about the UK's abuses of power from the historical record. […]

This Cryptocurrency Mining Rig Can Also Heat Your Home

The intensifying energy consumption of the bitcoin network is becoming a concern for environmentalists who have begun to question whether digital currencies should be considered a socially responsible investment. As we pointed out last month, Digiconomist’s Bitcoin Energy Consumption Index stood at 29.05TWh. That’s the equivalent of 0.13% of total global electricity consumption. While that […]

China’s Raging Against Dying Of The Light (Or Why Peak Employment Is Imminent)

Authored by Chris Hamilton via Econimica blog, China's working age population is clearly defined as those aged 16 to 50 years old for females (55 for "white collar" females) and 16 to 60 years old for males.  China mandates retirement at these outer age limits.  Perhaps of some interest should be that this working age population peaked in 2011 and has […]

Why This Canadian City Could Be The Epicenter Of The Next Bitcoin Rush

There is a new Gold Rush 2.0 currently underway across the world, and prospectors have their eyes set on Winnipeg City in Manitoba, Canada. In 1848 through 1849, the news of gold quickly spread around. People from Hawaii and Latin America were the first to hear the breaking news. Next came the rest of the U.S., […]

Dow 25,000 In Sight As Tax Cuts Are “Priced In” One Last Time

Dow futures are up some 80 points this morning after early on Wednesday morning the Senate passed the Tax Reform bill in a party-line vote, and is now set to become law after a follow-up vote in the House and Trump’s signature some time on Wednesday afternoon. The good news is that the biggest political […]

Brexit Moves To Phase 2 – Sterling Slides As EU Warns Talks Will Be Far More Testing

Following the humiliation of losing the House of Commons vote on Friday, in which MP’s took the final say on the Brexit deal from the executive, UK Prime Minister was in Brussels as EU leaders gave approval for Brexit talks to move to phase 2. At a dinner last night, she was applauded by leaders […]

Theresa May Humiliated As Tory Rebellion Leads To Key Brexit Vote Loss

Prime Minister Theresa May suffered a humiliating defeat for her key Brexit law on Wednesday after pro-European members of her own party openly defied her orders in a vote in Parliament. The vote in the UK Parliament was described as being “knife-edge” with the BBC’s chief political correspondent, Norman Smith, called it a “Big Bananas […]

Frontrunning: December 13

Democrat wins Senate seat in Alabama in blow to Trump (Reuters) Capital Journal: With Alabama Loss, Trump and GOP Face Political Reckoning (WSJ) Democratic Victory Stirs GOP Anxiety Over Midterm Elections (WSJ) Fed Expected to Raise Rates (WSJ) With rate hike in the bag, Fed may hint at Trump effect on economy (Reuters) Fed 2018 […]

Trader: UK Does Brexit Best When It Does Nothing At All

From the latest Macro View by current Bloomberg macro commentator and former Lehman trader, Mark Cudmore U.K. Does Brexit Best When It Does Nothing At All: Macro View With apologies to my compatriot Ronan Keating, there’s a non-negligible and rising probability that Brexit doesn’t happen. Ultimately that would be a positive for U.K. assets. An […]

Jim Grant: “Markets Trust Too Much In The Presence Of Central Banks”

Authored by Christoph Gisiger via Finanz und Wirtschaft, James Grant, Wall Street expert and editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns of the unseen consequences of super low interest rate and questions the extraordinary actions of the Swiss National Bank. Nearly ten years after the financial crisis, extraordinary monetary policy has […]

Five European Nations Issue Warning To America On Tax Reform

First it was the Chinese, now it’s the Europeans, as the rest of the world is suddenly very unhappy with the prospect of US tax reform (or maybe it is an unexpectedly strong US economy). As we discussed yesterday, with the historic Trump tax reforms on the verge of passage and the Fed’s dot plot […]

Frontrunning: December 12

Parties Make Final Push Ahead of Dramatic Alabama Senate Race (WSJ) Oil hits two-and-a-half year high on pipeline shutdown, stocks take breather (Reuters) Alabama drama nears an explosive end (The Hill) Moore, Jones Expose Rural-Urban Divide That Defines Alabama Race (BBG) The Force Behind Bitcoin’s Meteoric Rise: Millions of Asian Investors (WSJ) Austrian Explosion Rattles […]

No, Bitcoin Won’t Boil The Oceans

Authored by Elaine Ou via Bloomberg.com, Concerns about the cryptocurrency's energy use are overblown… While much of the world marvels at bitcoin’s meteoric rise, another part is focused on an environmental byproduct: The sheer amount of electricity that crypto-currencies use.   By some estimates, bitcoin’s consumption alone exceeds — or will exceed — that of […]

US Futures Hit New All Time High Following Asian Shares Higher; European Stocks, Dollar Mixed

U.S. equity index futures pointed to early gains and fresh record highs, following Asian markets higher, as European shares were mixed and oil was little changed, although it is unclear if anyone noticed with bitcoin stealing the spotlight, after futures of the cryptocurrency began trading on Cboe Global Markets. In early trading, European stocks struggled […]

Is it “Late 2007” For the Everything Bubble?

Timing the end of a major bubble is extraordinarily difficult as it entails figuring out when a critical mass of investors shift from greed to fear. Having said that, we’ve recently seen a number of developments that would suggest we’re near the end of the current Bond Bubble. Back in June the world saw the […]