In a sign that China's ongoing attempts to delever (and decelerate) the economy may have gone a bit too far, on Saturday morning China’s central bank announced a targeted reserve requirement ratio (RRR) cut, its first since February 2016 and which will go into effect in 2018, in an attempt to boost lending to struggling smaller firms and energize China's lacklustre private sector, Xinhua reported.
It looks like Travis Kalanick is preparing for all-out war in the Uber boardroom.
Authored by Ryan McMaken via The Mises Institute,
Janet Yellen this week cast doubt on the Fed's announced plan to continue Fed rate hikes and reverse its years of "unconventional" monetary policy.
“My colleagues and I may have misjudged the strength of the labor market,” Yellen announced on Tuesday, adding that they'd also misjudged "the degree to which longer-run inflation expectations are consistent with our inflation objective, or even the fundamental forces driving inflation."
With robots slowly but surely taking over every semi-skilled occupation including in a bizarre development, the production of cocaine which may well unleash the era of cocaine deflation upon Wall Street (a welcome development in light of ever-shrinking bonuses), a new - and familiar - industry has emerged as the robots' next target. According to Newsday, a California real estate technology company that aims to lower the cost of home-selling by using robots and “big data” instead of commission-based real estate agents has recently opened a Long Island office.
That didn't take long.
After issuing a ruling in July that officially declared that the tokens sold during initial coin offerings must be registered as securities - a ruling that many hoped would lend a badly needed veneer of legitimacy to the shady ICO market - the SEC is following through with what we imagine will be the first of many civil actions against ICOs and the individuals who launch them.