Business

Authored by Brendan Brown via The Mises Institute,

Authored by Kevin Muir via The Macro Tourist blog,

I am sure to madden a bunch of readers this afternoon, but here it goes nonetheless. For most of the spring and early summer, there were two poster children of speculative froth.

The first was Tesla. Egged higher by Elon Musk’s tweets poking fun at the skeptical short sellers, this stock was seemingly unstoppable. Rising from $240 in March, TSLA ticked at $387 in late June, squeezing the shorts by 61% in the space of one quarter.

Goldman Sachs has clinched an important victory in its race to transition from a stodgy investment bank into a fintech powerhouse: it was awarded a patent for its proposed "SETLcoin" cryptocurrency settlement system, according to CoinDesk, the first to report on the patent.

“The US Patent and Trademark Office (USPTO) published Goldman's patent on July 11, entitled "Cryptographic currency for securities settlement". The bank made headlines when the existence of the patent application was revealed in late 2015.”

Netflix stock has surged after hours, soaring above its all time high price, and up nearly 10% after reporting Q2 numbers which while beating slightly on revenues ($2.79Bn, Exp. $2.77Bn), and missing  on EPS ($0.15, exp. $0.16), were far more remarkable for the subscriber numbers, which smashed expectations as follows:

Authored by David Stockman via The Daily Reckoning,

The American economy has been mangled by decades of assault on capitalist prosperity.

Growth is now dying because the Federal Reserve’s hit on corporate America that has strip-mined its balance sheets to feed the halls of Wall Street. Trillions of dollars have been thrown into financial engineering (stock buybacks, M&A deals and leveraged recaps) while neglecting real investment and productivity in Flyover America.