Authored by Charles Hugh Smith via OfTwoMinds blog,
The fragility of our financial buffers will only be revealed when they fail in the next crisis.
While buffer has a specific meaning in chemistry, I am using the word in the broad sense of a reserve resource that absorbs the initial destructive impacts of crises or system overloads. Marshland along a sea coast is a buffer against destructive storm waves, for example.
By Bill Blain of Mint Partners
Blain's Morning Porridge, July 13
“Never mind manoeuvers, always go at them.”
Methinks we worry too much.
Did Janet Yellen really reverse so fast?
Uber and Yandex, the "Google of Russia", have agreed to merge their ride-sharing businesses in Russia and in five markets across Central Russia, a deal in which Uber cedes control of the market to the Moscow company after years of fierce competition. Diversified internet giant Yandex is the dominant player in Web search, maps and mobile navigation in the region.
The 59-year old CEO of Swedish Security Firm Securitas was declared bankrupt this week after hackers stole his identity, took out a loan in his name, then filed for bankruptcy. As Bloomberg noted, “the sub-optimal branding implications were hard to miss.”