Business

The following article by David Haggith was first published on The Great Recession Blog:

We just saw a major rift open in the US stock market that we haven’t seen since the dot-com bust in 1999. While the Dow rose by almost half a percent to a new all-time high, the NASDAQ, because it is heavier tech stocks, plunged almost 2%. Tech stocks nosedived while others rose to create new highs. Is this a one-off, or has a purge begun for the tech stocks that have driven the nation’s third-longest bull market?

Authored by Brian Maher via The Daily Reckoning,

We open today’s reckoning with a hypothesis:

The current monetary system debauches the culture.

Long-suffering readers are familiar with our… diminished regard for paper money.

Paper money — or digital money nowadays — is the great bogeyman of the boom/bust cycle. It inflates bubbles of every model and make.

Meanwhile, paper money fuels big government… as oxygen fuels fire.

Authored by Eugen von Bohm-Bawerk via Bawerk.net,

The uber implosion at Uber continues.

Authored by Don Quijones via WolfStreet.com, 

Stockholders and junior bondholders fear another “bail-in.”