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Man Arrested For Punching Wells Fargo ATM: “It Gave Him Too Much Money”

Call it the holiday’s token bizarro incident: according to Florida Today, a 23-year-old man who told police he punched a Wells Fargo ATM because it gave him too much cash, was arrested after bank officials said the attack caused at least $5,000 in damages, which elevated the inexplicable and idiotic temper tantrum into a felony […]


Wells Fargo, Fifth Third, Comcast Unveil Minimum Wages Hike, Bonus Payments After Tax Reform Passes

Update: Add Comcast to the list   #winning pic.twitter.com/QBForn6EeF — Phil Kerpen (@kerpen) December 20, 2017 * * * AT&T’s announcement that it would boost US capex by $1 billion and pay a $1,000 special bonus to 200,000 employees once Trump signs the Tax Cut bill into law (ideally before the holidays), has unleashed a […]


Is The GOP Tax Cut Finally Priced In? Here’s What Wall Street Thinks

Having passed the Senate, and – moments ago, for the second time – the House, the Republican Tax Cuts and Jobs Act, aka the Trump Tax Cuts is officially a done deal, just waiting for the President’s signature, at which point the longest “rumor” of 2017 will become the news. But does that mean that […]


Here Are The Biggest Winners And Losers From Trump’s Corporate Tax Cuts

Credit Suisse Chief US Equity Strategist, Jonathan Golub, has estimated that corporate tax cuts in the U.S. could boost average earnings of companies in the S&P by about 8-10%.  Now, as those tax cuts get priced into the market for the 10th time today, we decided to take a look at which industries will benefit […]


“These Are The Darkest Hours…”

Authored by James Howard Kunstler via Kunstler.com, The Tax “Reform” bill working its way painfully out the digestive system of congress like a sigmoid fistula, ought be re-named the US Asset-stripping Assistance Act of 2017, because that’s what is about to splatter the faces of the waiting public, most of whom won’t have a personal […]


Goldman Finds Tax Reform Will Greatly Benefit The Big Banks

It’s not just the ultra rich, as well as a dazed and confused Bob Corker who is set to reap a $1+ million windfall from the passage of a tax bill which he opposed until just days ago, who will benefit from the passage of tax reform: according to Goldman Sachs among the biggest beneficiaries […]


$19,000: Bitcoin Hits New All Time High After Burst Of Asian Buying; Bigger Than Wells, Wal-Mart

Having traded in a relatively narrow – for bitcoin – range of $16,500-$17,500 over the past week, the world’s most popular cryptocurrency jumped to new all time highs following the latest unexplained burst of buying out of Asia, with another Saturday surge in volumes emerging out of Japan and Korea. Bitcoin is now up over […]


“Millennials Don’t Care About Logos”: How Collapsing Brand Loyalty Will Allow Amazon To Dominate Apparel

Despite daily affirmations from the White House that “everything is awesome” with the economy, 2017 has been a miserable year for retailers.  As Reorg First Day points out, over 30 retailers, with debt aggregating into the billions of dollars, have filed for bankruptcy so far this year… After Shiekh Shoes’ filing today, at least 30 […]


Visualizing The World’s Most Valuable Companies Of All Time

MODERN JUGGERNAUTS LIKE APPLE DON’T EVEN COME CLOSE The Chart of the Week is a weekly Visual Capitalist feature on Fridays. Courtesy of: Visual Capitalist Before speculative bubbles could form around Dotcom companies (late-1990s) or housing prices (mid-2000s), Visual Capitalist's Jeff Desjardins notes that some of the first financial bubbles formed from the prospect of trading with […]


Investors ‘Buy The Dip’ After Trump Slams Wells Fargo’s “Bad Acts”

In an out-of-the-blue tweet perhaps aimed at reassuring his base that his not 'with the banks', President Trump took aim at Wells Fargo this morning… Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, […]


Wells Fargo Stock Slides After Trump Slams Bank’s “Bad Acts”

In an out-of-the-blue tweet perhaps aimed at reassuring his base that his not 'with the banks', President Trump took aim at Wells Fargo this morning… Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, […]


November Payrolls Jump 228K, Beat Expectations But Wage Growth Disappoints

In a continuation of the recent theme shown by the labor market, the BLS reported that November payrolls rose by a seasonally adjusted 228K, beating expectations of 200K, if lower than October’s downward revised 244K (from 261K) while September was revised up from +18,000  to +38,000. With these revisions, employment gains in September and October […]


Preview Of Tomorrow’s Jobs Report: Here’s What Wall Street Expects

What a difference a year makes: last December, just as the ECB was about to shock the market with the announcement of its first €20 billion QE tapering, macroeconomic data mattered, especially since the Fed’s tightening intertia appeared to truly be data-dependent, if only for a very short period of time. Fast forward one year, […]


Gold Battered As Bitcoin Goes Berserk, Trump Trounces Bonds

Artist's impression of what Bitcoin did today…   Today was all about Bitcoin – no matter what kind of investor you are…   Several exchanges had glitches with GDAX down for about 25 mins as Bitcoin plunged off its intraday highs… At its highs today, Bitcoin was bigger than Wells Fargo…   Is this what […]