Business

If you happen to see a driverless car trundling down Fifth Avenue, don’t panic.   

Compounding the misery that Elon Musk is likely feeling right now, General Motors has scored yet another victory in its quest to build the first commercially viable self-driving car.  New York Gov. Andrew Cuomo on Tuesday granted GM’s Cruise Automation division permission to begin testing fully autonomous vehicles on New York City roads – meaning GM will become the first automaker to begin testing autonomous cars in the northeast.

Authored by Simon Black via SovereignMan.com,

In 1906, American entrepreneur William T. Grant opened his very first “W.T. Grant Co 25 cent store” in a small town outside of Boston.

The store became popular and fairly profitable. So Grant opened another. And another.

Three decades later, Grant’s retail empire was generating $100 million in sales (an enormous sum back then). And by the time of Grant’s death in 1972, there were over 1,000 stores bearing his name.

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. A bolivar is worthless, and with its collapse, Venezuela is witnessing the world’s worst inflation. 

The Dow is now up 17% YTD - crushing bonds and bullion - NOTE everything changed when China’s central bank decided that it would remove a reserve requirement for financial institutions trading in FX forwards for clients by cutting it to zero from 20% currently..

But let's not spoil the party!

For months, we were wondering how much longer Goldman would ignore the relentless market meltup without revising its year-end S&P500 price target, which at 2,400 was not only among the lowest on Wall Street, but also some 150 points away from twhere the S&P currently is. Furthermore, as of this weekend, Goldman's 2018 and 2019 targets for the US equity index, were 2,500 and 2,600, implying there was only 50 points of upside for the next 26 months.