Business

Up until April 2012, members of Congress and their staff were the only people in the country actually allowed to trade stocks on insider information.  That was supposed to change with the passage of the STOCK (Stop Trading on Congressional Knowledge) Act which was signed into law by Barack Obama on April 4, 2012.  But, as we all know, laws are only meaningful to the extent our legislators and bureaucracies are willing to enforce them.

Another day, another major hacking.

Authored by Kevin Muir via The Macro Tourist blog,

When I took Econ 101 and 102 as a young college student back in antediluvian times the textbook we were assigned was Paul Samuelson’s Economics: An Introductory Analysis. This book is the all-time best selling economics textbook and is still around today (19th ed.).

I had the 1961 edition. In it, Samuelson, a prominent Keynesian economist who won the Nobel prize in economics, predicted that the economy of the Soviet Union would overtake the U. S. economy in 23 years (by 1984). Even as late as the 11th edition (1980), Samuelson stood by his prediction.

Well that all escalated rather quickly...

Brent spiking (Kurds and Korea), Gold spiking (Korea), AAPL tumble (weak orders), FANG bloodbath... large into small and growth into value.