In the latest bombshell to hit President Trump, Bloomberg reports his administration may have inadvertently taken money from an enemy of the U.S. - but this time it's the Syrian government of President Bashar al-Assad... via Venezuela.
In a report published Thursday, Bloomberg alleges that Citgo officials were involved in a plot to illegally disguise Syrian crude and sell it at gas stations in the U.S..
After crashing $500 from its intraday highs today, Bitcoin has bounced back $300 off its intraday lows extending gains into what is likely to be another frenetic Asian session. While there are numerous drivers of the recent action, 'scaling' and 'asian fever' are the greatest factors with Japanese and Korean premia exploding.
Of course in context today's intraday drop is de minimus...
After yesterday Goldman mocked Trump's budget (ironic as it was Trump's ex-Goldman Chief Economic Advisor who conceived it) and said it had zero chance of being implemented, today it was JPM's turn to share some purely philosophical thoughts on the shape of future US income and spending, which as we learned yesterday could balance only if the US grows for 10 years at a 3% growth rate, something it has never done, while slashing nearly $4 trillion in in spending, something else it has never done.
The following article by David Haggith was published on The Great Recession Blog:
The following is not simply a list of negative risks to the economy but a list of of serious economic conditions that are already placing drought-like pressures on the overall economy. This list doesn’t include the long-term structural problems with the economy, such as its high debt burden, but just the forces that have risen against it this year.
Jeff Bezos and Bill Gates vying for the world's richest man title...
Did Trump just shove another NATO leader to be in the front of the group? pic.twitter.com/bL1r2auELd
— Steve Kopack (@SteveKopack) May 25, 2017
Today's biggest story outside of AMZN $1000, was OPEC's epic fail... OPEC announced a 9-month extension of its production cuts that have not worked. The market was disappointed...WTI saw its biggest down day since Feb 2016