El-Erian: Why Gold Is Less Of A Haven These Days
Authored by Mohamed El-Erian via Bloomberg.com,
Its status has been eroded by unconventional monetary policy and cryptocurrencies.
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Trump Reverts To Populist Roots In "Tax Plan" Speech; Sets Up Congress For Another Epic Fail
Update: Following Trump's Springfield, MO speech, Treasury Secratary Steve Mnuchin issued the following statement which, much like the Presidnet's speech, calls for more jobs, higher wages, higher GDP growth, sugar, spice and everything nice....yet provides absolutely no details on how to accomplish any of it.
"There Will Be Blood": S&P Warns Failure To Raise Debt Ceiling Would Be "More Catastrophic Than Lehman"
With just one month left until the Treasury "X-date", or the moment when it would run out of cash without a debt-ceiling resolution...
... the time has come for dire, apocalyptic threats to spook Congress into action and specifically reaching a compromise on a debt ceiling resolution, and S&P - which infamously downgraded the US in 2011 during the last debt ceiling fiasco - is happy to be the source of bad news.
S&P Ramps Above Key Technical Level, Nasdaq Panic-Buying Continues
The machines have achieved their short-term goal (getting the S&P above its 50-day moving-average), next is getting green for the month.
Once again, the US market open triggered a panic-buying bid under mega-cap US Tech stocks...
New Uber CEO's "Welcome Aboard" Gift: Another Federal Investigation
Little more than a day after Dara Khosrowshahi decided to accept the Uber board’s offer to become the embattled ride-share company’s new CEO – after the company’s top two candidates dropped out of the running - he received a welcome-aboard present that was just so…Uber.