Business

Authored by Wip via Jim Quinn's Burning Platform blog,

It’s hard to think of something so complicated that has become so popular as fast as bitcoin.

Last week, when looking at the latest Chinese credit data, we made two troubling observations: first, China's economic growth was slowing across a number of key data points despite massive new credit injected into the economy over the past year. Second, that the formerly massive credit impulse - which was responsible for pushing the global economy and markets out of the early 2016 rut - was no more, and that overall system credit growth slowed to 14.4% yoy from 14.9% the prior month, which was the slowest total credit growth in the past 27 months.

Authored by Gail Tverberg via Our Finite World blog,

Economists, including Ben Bernanke, give all kinds of reasons for the Great Depression of the 1930s. But what if the real reason for the Great Depression was an energy crisis?

Authored by Tsvetana Paraskova via OilPrice.com,

U.S. individual vehicle miles traveled (VMT) growth has been flat since June 2017, and the potential end of the VMT growth that started in early 2014 may be an indicator of slowing oil consumption, according to government data compiled by Labyrinth Consulting Services, Inc.

(Click to enlarge)

Update: Bitcoin spot and futures are bid and have reebounded notably off the after-hours lows...

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As we detailed earlier, shortly after the US equity market closed this evening, someone decided it was time to dump a few hundred Bitcoin, sending the price plunging below $17,000...

Did another HODLer just fold?