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Elderly Couple On Cross-Country Trip To Vermont Busted With 60 Pounds Of Christmas Marijuana

An elderly couple from Clearlake Oaks, California were busted by Nebraska sheriff’s deputies with 60 pounds of marijuana, edibles and marijuana concentrates while on a 3,000 mile cross-country Christmas trip to Vermont, police said. Patrick Jiron, 83 and his wife Barbara, 70, were planning to give the pot to family as Christmas presents when Nebraska […]


China Launches World’s First All-Electric Cargo Ship

Authored by Zainab Calcuttawala via OilPrice.com, Tesla is not the only one bringing electric engines to cargo transport. China just launched its first all-electric cargo ship, which will travel 50 miles at a top speed of 8 miles per hour on a single charge. Though it will be able to carry 2,200 tons of cargo […]


Buying Yen… A Truly Contrarian Call

Authord by Kevin Muir via The Macro Tourist, I am aware of all the doomsday Yen hyper-inflationary predictions due to their soaring debt-to-GDP ratio. And these Japanese bears very well might prove correct… In the long run. But as Mr. Keynes taught us, the long-run is an awfully long time. In the meantime, I think […]


Bitcoin Hits New All Time High After Burst Of Asian Buying: Market Cap Nears $200 Billion

Whether it was the previously discussed unexpectedly bullish JPM report (which calculated that a mere $6bn in net capital inflows has pushed the crypto market cap to $330 billion), or just the latest unexplained burst of buying out of Asia with another weekend surge in volumes out of Japan and Korea, but last week’s bitcoin […]


Build Fast, Fix Later: Tesla Employees Say 90% Of Model S/X Cars Fail Quality Checks After Assembly

Last month we highlighted a report from Automotive News which suggested that Tesla’s Model 3 production misses might have been the result of a rather basic and embarrassing problem…the company hadn’t yet figured out how to weld.  As automotive manufacturing consultant Michael Tracy of Agile Group pointed out, the clues of Tesla’s steel problems came […]


Why Australia’s Economy Is A House Of Cards

Authored by Matt Barrie via Medium.com, Co-authored with Craig Tindale. I recently watched the federal treasurer, Scott Morrison, proudly proclaim that Australia was in “surprisingly good shape”. Indeed, Australia has just snatched the world record from the Netherlands, achieving its 104th quarter of growth without a recession, making this achievement the longest streak for any […]


U.K. Litigation Cases On Defaulted Consumer Debts Soar Beyond 2008 Levels

Last month, S&P warned that UK lenders could incur £30 billion of losses on their consumer lending portfolios consisting of credit cards, personal and auto loans if interest rates and unemployment rose sharply.  Much like in the U.S., S&P warned that "loose monetary policy, cheap central bank term funding schemes and benign economic conditions" had […]


The Year Was 1989…

By Chris at www.CapitalistExploits.at These folks were probably worth more than Justin Bieber. And this guy was still alive… and even though dressed like a peacock, amazingly popular. 1989 was also the year the Japanese stock market topped out. Background Most economic crises are the result of an economic boom which leads to investors getting all […]


Frontrunning: November 8

A year in: U.S. stock market under Trump’s shadow (Reuters) Democrats’ Wins in Virginia, New Jersey Fan Hopes for Anti-Trump Momentum (WSJ) New York Gives De Blasio a Second Chance, Re-Electing Him as Mayor (BBG) Democrat Wins New Jersey Governor’s Race as Voters Pan Christie, Trump (BBG) Trump Starts China Visit Seeking Progress on Trade […]


Bank Stocks, Dollar Slide Hit By Fresh Tax Reform Doubts

U.S. equity futures are little changed as European and Asian shares retreated, led by sliding bank stocks and a drop in the dollar as doubts over republican tax cuts and ongoing bond curve flattening hurt sentiment and prompted fresh questions over the viability of the US expansion. Investor concerns also returned to geopolitics as Trump […]


Matt Taibbi Exposes The Great College Loan Swindle

Authored by Matt Taibbi via RollingStone.com, How universities, banks and the government turned student debt into America's next financial black hole… On a wind-swept, frigid night in February 2009, a 37-year-old schoolteacher named Scott Nailor parked his rusted '92 Toyota Tercel in the parking lot of a Fireside Inn in Auburn, Maine. He picked this […]


Hurricane Surge Fades: October Auto Sales Mixed As GM Inventory Starts To Tick Back Up

U.S. auto sales for the month of October came in mostly mixed with Fiat and GM being the biggest losers relative to street estimates and Ford beating on strong truck and fleet sales.  GM forecasts that the overall SAAR for the month ended up around 18mm units, versus 17.5mm expected, as sales remain elevated due […]


There’s Now A Subprime Auto Loan Program Designed Specifically For Refugees

If ever there was a doubt that auto sales have been pushed to the absolute max in this iteration of the industry’s debt-fueled bubble, then consider the following program specifically designed to underwrite subprime auto loans to refugees who have recently arrived in the U.S. with absolutely no credit history or record of any kind.  […]


7 Years & Counting – Trump’s Looming EV Time-Bomb

Authored by Eric Peters via EricPetersAutos.com, In just seven years’ time – unless Trump does something before his four years are up – the average fuel efficiency of the average car will have to almost double. From 35.5 MPG (now) to 54.5 MPG by 2025. So reads the fuel economy fatwa issued by Trump’s predecessor. […]


Kobe Steel Collapses 37% After Admitting Falsifying Data: “Could Destroy International Faith In Japanese Manufacturing”

Japan's 4th largest steel producer is in trouble. After admitting falsifying data about the quality of aluminum and copper it sold, shares in Kobe Steel have collapsed 37% (limit down yesterday and another 17% at the open today) in the biggest bloodbath the company has ever seen. Bloomberg provides a quick Q&A: 1. What exactly […]