Just as the development of electronic trading led to mass downsizing on sales desks across Wall Street, advances in artificial intelligence could decimate the ranks of banks’ back-office staff, according to former Citigroup CEO Vikram Pandit. And given the rapid pace of technological advance, jobs in operations and retail banking could begin disappearing in as few as five years.
Authored by Michael Snyder via The Economic Collapse blog,
Should you get free money from the U.S. government every month simply for being alive?
That may sound like a crazy idea to many of us, but the truth is that this will likely be one of the biggest political issues in the 2020 presidential election.
ATTOM Data Solutions today released its Q2 2017 U.S. Home Flipping Report which reveals that residential home flippers, the same speculative crew that nearly blew up the entire global financial system in 2008, are now making more money than ever. In fact, in 2Q the average flipped house generated gross profits of $67,516 which is well above the $60,000 peak previously set back in 2005.
Authored by Bryce Coward via Knowledge Leaders Capital blog,
The Federal Reserve is likely to decide next week to begin letting assets roll of its balance sheet as bonds mature, instead of reinvesting the proceeds.
Since the late 1990s, Manhattan real estate has become one of the premier destinations for foreigners - particularly wealthy Russian and Chinese businessmen - looking to stash their money offshore, helping to transform once-derelict neighborhoods like Soho into trendy hubs for the global elite, while sending housing prices throughout the city rocketing higher, putting the American ideal of homeownership out of reach for millions of middle-class New Yorkers.