Business

Back on  February 27, when bitcoin was trading in the mid-teens, we wrote "Step aside bitcoin, there is a new blockchain kid in town."

Via Horseman Capital's Russell Clark,

“The upshot of this is that gold looks better than treasuries. However, it should be pointed out that this does not mean gold is a buy. It only states that gold could do better than treasuries in these market conditions.”

News that Goldman purchased some $2.8 billion in Venezuela bonds issued by state oil company PDVSA and until recently held by Venezuela's central bank - at a 30% discount to market, paying 31 cents on the dollar or around $865 million in notional - quickly set off a firestorm of angry protests, in which Goldman was accused of making money from other people's misery (even though the story of Goldman's involvement in Venezuela's debt is hardly new, as we reported in 2014 in "How Goldman Sachs Became Broke Venezuela's Loan Shark"

One month ago, we first presented several striking charts and observations from Credit Suisse's retail analyst, Christian Buss, who showed the extent of the devastation sweeping through the US retail sector.

To be sure, while the mass shuttering of retail stores - just today Michael Kors announced the company would close up to 125 full-price retail stores - has been a recurrent topic on this website as shown in the chart below...

US Macro data at its worst since Feb 2016, 2017 lows for EPS Expectations, Record Highs for Nasdaq... "inconceivable"