Authored by Michael Snyder via The Economic Collapse blog,
Is the retail apocalypse in the United States about to go to a whole new level?
That is a frightening thing to consider, because the truth is that things are already quite bad. We have already shattered the all-time record for store closings in a single year and we still have the rest of November and December to go.
In a moment of rare insight, two weeks ago in response to a question "Why is establishment media romanticizing communism? Authoritarianism, poverty, starvation, secret police, murder, mass incarceration? WTF?", we said that this was simply a "prelude to central bank funded universal income", or in other words, Fed-funded and guaranteed cash for everyone.
prelude to central bank funded universal income
— zerohedge (@zerohedge) October 31, 2017
Public pensions all around the country like to play a clever little game that allows them to drastically understate the current value of their future liabilities and therefore pretend that their ponzi schemes are something other than insolvent frauds. Of course, we're talking about the artificially high discount rates that pension boards consistently use to understate their net underfunding levels...a topic that we've written about frequently over the years.
Buzzfeed’s plans for a rumored 2018 IPO, first reported back in March by Axios, just suffered a serious setback. In what amounts to a serious blow to the digital media pioneer’s credibility with investors, not to mention the potential impact on its lofty venture-capital-fueled valuation, the Wall Street Journal is reporting that Buzzfeed is on track to miss its 2017 revenue projections by between 15% and 20%.
Buzzfeed had expected revenue of $350 million, but will probably miss that target by between $50 million and $70 million, per WSJ.
IP surges (thanks to hurricanes), Congress passes a tax bill that has no hope of passing the senate, but a huge Chinese liquidity injection sends stocks soaring and proves...