Following the discovery of a "small hairline crack" in The Forties Pipeline System - one of the most important oil conduits in the world - its operator Ineos has decided a total controlled shutdown "for weeks, not days" is the safest option. This has sent the spread between WTI and Brent soaring...
Authored by John Rubino via DollarCollapse.com,
Each quarter, Credit Bubble Bulletin’s Doug Noland posts a “flow of funds” report that analyzes the debt and securities markets data released by the Fed in its Z.1 Report. It’s always shocking to see the numbers we’re dealing with, but even more so lately as history’s biggest financial bubble starts to dwarf its predecessors.
As the House and Senate continue to try to reconcile their two versions of a tax plan, the taxing structure for pass-through entities (s-corps, LLC's, etc.) continues to be somewhat controversial, if not completely nonsensical. As we pointed out last week, the Senate bill somewhat randomly chose to exclude pass-through entities organized as family trusts from tax cuts which would ultimately leave them on the hook for much larger tax bills due to the elimination of other deductions.
Authored by Charles Hugh Smith via OfTwoMinds blog,
What if bitcoin is a reflection of trust in the future value of fiat currencies?
After last week's payrolls report, the year is starting to wind down for economic events and capital markets, but not before one last hurrah for central banks: indeed, it is a very busy week dominated by central bank meetings for the FOMC, ECB, BOE, SNB and Norges Bank. We will also observe the controversial Alabama Senate elections and the EU Council summit on the state of Brexit negotiations. Data-wise, the most important economic update will be Wednesday's US CPI print, as well as industrial production releases in a number of countries including the US and China.