Business

"A Happy Trumpiversary to all our readers this morning"

       - Deutsche Bank

Despite record high stocks, record high consumer confidence, and 'full' employment, LendingClub is struggling to originate high-enough quality loans - crashing almost 20% after slashing its Q4 outlook.

CEO Scott Sanborn on LendingClub’s conference call pointed to a new credit model that represents "a tightening with an overall shift to higher-quality grades and higher quality approvals within grades," and said Equifax’s significant data breach "has put consumers on edge."

From the very beginning, there was something off about Sunday's unprecedented countercoup purge unleashed by Mohammad bin Salman on alleged political enemies, including some of Saudi Arabia's richest and most powerful royals and government officials: it was just too brazen to be a simple "power consolidation" move; in fact most commentators were shocked by the sheer audacity, with one question outstanding: why take such a huge gamble?

The world is careening towards an inflationary shock.

As was the case with the beginning of the Housing Crash, few are noticing what's happening. And even fewer realize the true scale of what's about to take place.

Below is a chart you have to see.

This chart shows the Producer Prices Index for the four largest economies int he world: the US, the EU, China, and Japan.

Note, that Producer Prices are SPIKING in all four economies.

H/T Jeroen Blokland

AT&T stock is rallying and Time Warner is falling following remarks by AT&T's CFO John Stephens regarding "uncertainty" about the timing of the deal between the two companies, citing ongoing DoJ discussions.AT&T stock is rallying and Time Warner is falling following remarks by AT&T's CFO John Stephens regarding "uncertainty" about the timing of the deal between the two companies, citing ongoing DoJ discussions.