Authored by Chris Whalen via The Institutional Risk Analyst,
“While the US and the UK have been mired in political chaos this year, the EU has enjoyed improved economic conditions and some political windfalls. The question now is whether this good news will inspire long-needed EU and eurozone reforms, or merely fuel complacency – and thus set the stage for another crisis down the road.”
Philippe Legrain, Project Syndicate
Content originally published at iBankCoin.com
Do not worry about anything you're about to read. In fact, close out your browsers now and go to sleep -- since it's late and you must be really sleepy.
Charlene Chu from Autonomous Research is out with a note warning about Chinese credit expansion. Before we delve into the details, let's have a gander at said 'credit expansion.'
Wanton amount of credit cards
In a spirited defense of today's inefficient market, one which is allegedly unimpaired by the relentless metastasis of passive investing, Bloomberg wrote an article using Macro Risk Advisors data, in which it said that "for all the handwringing about how the growth of passive investing strategies is distorting the stock market" it concluded that "there’s virtually no market impact from it. Correlations remain at all-time lows and the amount of shares that are passively managed isn’t affecting single-stock."
Stormy weather was unleashed in Tesla longsville today when the company's veteran director of battery technology, Kurt Kelty, unexpectedly resigned to "explore new opportunities", abruptly ending a tenure with the company that stretched for more than a decade, and comes at a critical time for Elon Musk: just as Tesla enters "production hell" after it delivered its first Model 3 electric car to the general public with a dramatic production ramp up expected in the coming weeks. Kelty joined Tesla in 2006 and was one of the longest-serving executives at Tesla after Elon Musk.
Authored by Irina Slav via OilPrice.com,
The Italian mafia may have teamed up with the Islamic State to smuggle crude oil from the Middle East into Italy, an ongoing police investigation has suggested, according to The Times who cited a report by La Repubblica.
The Italian daily noted that the police had found substantial amounts of Libyan and Syrian crude that were greater than some local refineries’ inventories, with sources connected with the investigation saying that crude, “should not have been there.”