While former Turing Pharmaceuticals CEO Martin Shkreli languishes inside a federal jail in Brooklyn, the trial of his former attorney - and alleged co-conspirator - Evan Greebel is just beginning, with the defense and prosecution giving opening statements Friday.
by Dominic Frisby of Money Week
Every year, Ronald-Peter Stoeferle and Mark J Valek of investment and asset management company Incrementum put together the report In Gold We Trust – 160-plus pages of charts and thoughts, mostly gold-related, on the state of the world’s finances.
There’s so much to look at and consider. It’s a sort of digital equivalent of a coffee-table book.
Company towns used to be a defining feature of the American economy. Nowadays, as Raul at HowMuch.net notes, thanks to globalization and offshoring, it is much harder to find employers that exert such influence over a small town (with a few notable exceptions).
Last weekend, One River's CIO Eric Peters explained what he thought would be the nightmare scenario for the next Fed chair, who as we now know will either be Jerome Powell or John Taylor, or both (with an outside chance of Yellen remaining in her post). According to the hedge fund CIO, the "worst case scenario" is one in which despite an improving economy, yields simply refuse to go up, leading to the final asset bubble and Fed intervention that "pops" it:
The US stock market celebrated the 30th anniversary of Black Monday with the 2017 version of a rocky trading day: Stocks sold off early, with S&P 500 futures recording their steepest post-midnight drop of the year. But the dip was reflexively and aggressively bought, and stocks even poked back into the green seconds before the close as algos mistook a repetitive Politico headline about Jay Powell’s chances of becoming the next Fed chair for news - leaving us with yet another record close.