Business

Something strange is taking place in China, and we are not talking about the largely optical, mostly irrelevant first downgrade of China by Moody's since 1989 (which still managed to unleash diplomatic hell in Beijing), and in which the rating agency simply admitted what everyone else already knew about the 300% debt/GDP economy.

The bigger issue, as we noted previously, is that both the short-term...

and conventional Chinese funding market appears to be breaking...

The market may have long since moved on from Moody's downgrade of China to A1 from Aa3 (by now even long-only funds have learned that in a world with $18 trillion in excess liquidity, the opinion of Moodys is even more irrelevant), but for Beijing the vendetta is only just starting, and in response to Tuesday's downgrade, China's finance ministry accused the rating agency of applying "inappropriate methodology" in downgrading China's credit rating, saying the firm had overestimated the difficulties faced by the Chinese economy and underestimated the country's abilit

Authored by Brandon Smith via Alt-Market.com,

Last week was a rather crazy one for the news feeds, with cyber attacks and “Comey memos” and a host of other wild mayhem, it may have been difficult for many people to keep track of it all. That said, there was one event that I think went partly under the radar, and I think it is an important signal for anyone concerned with the ongoing process of economic collapse in the U.S.

First VIX dumped-n-pumped this morning, then Russell 2000 (ETF and Futures) flash-crash at lunch time, and now, amid heavy volume, someone decided it was the perfect time to panic-buy S&P, Dow, and Nasdaq futures...

Some contest to Russell 2000's earlier flash crash...

Th hunt for a narrative to explain this utter farce has started... Did Bitcoin algos just get switched on to trade S&P minis? Bitcoin just topped $2500!

Crazy John McAfee from the jungles of Belize is running a tiny company, specializing in cyber-security and mining bitcoins.

Revenues for the last quarter eclipsed $300k, based solely on mining activities.

The stock has been stuck in retard range, thanks to a pending SEC execution.

Nevetheless, McAfee says his little offal of a company will be profitable by year end -- all thanks to bitcoins.