Business

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.

Via The Daily Bell

$60 Billion plus is the U.S. dollar equivalent to how much Bitcoin is currently in circulation. That amount of money would keep the Estonian government running at current expenditures for almost 60 years.

$60 billion is more than double Estonia's Gross Domestic Product.