Viral Surveillance Video Reveals A Shocking Scene From China's Housing Bubble

Surveillance camera caught the shocking moment new real estate in China's Hangzhou city open for sale on September 24. The spree was prompted by the wish to evade new restrictions preventing people born outside Hangzhou from buying more than one property. The result was nothing short of stunning...

Wells Execs Forfeit $60 Million; May Be Just The Beginning

Wells Fargo Special Committee of Independent Directors announces plan to claw back $60mm in unvested options from Stumpf and Toldstedt in addition to other salary, bonus and severance payments but this may be just the beginning.

The Dying Middle-Class

Hardest hit were those marginal workers struggling to grab the lower rungs of the ladder. All of a sudden, the rungs were coated in the Fed’s grease. Between 1947 and 1970, this group – the bottom fifth of the U.S. population – enjoyed a 3% annual growth in real disposable income. As the EZ money regime of the 21st century worked its mischief, these annual increases disappeared.

SocGen Explains The Recent Surge In Health Care Costs

In addition to higher reimbursements, consumers are paying more out of their own pockets. A shift to high-deductible health insurance plans in recent years means that consumers are contributing more to the cost of health care. In August, medical care services prices in the South surged by 1.2% NSA, the biggest increase in any August since at least 1990.

Why There Is Trump

It’s over! The entire model our societies have been based on for at least as long as we ourselves have lived, is over! That’s why there’s Trump.

This Is What Trump Should Do In The Second Debate

"Fuck all these skewed polls. The debate didn't matter, and it didn't change anyone's mind..Trump should have been hammering the Clintons (that's right, Hillary and Bill) on putting Wall Street in change of America's economy, but he spent far too much time defending himself...Trump needs to paint the Clintons as the tag team that gave the country away to the banksters, and forced 76% of Americans into living a paycheck to paycheck lives..."

Oil Pops After Crude Inventories Unexpectedly Drop

In the week since the last API report, oil has ripped and dipped back to unchanged following an unexpected draw and Algiers disappointment, but prices jumped higher (tagging $45.00) as API noted a 752k draw (4th week in a row). This was dramatially below the 3mm build expected. Cushing, Gasoline, an Distillates all saw inventory draws (the latter's first draw in 7 weeks).

The FT Goes Full Fearmonger: Electing Trump "Would Unravel The World"

"Sometimes history jumps. Think of the first world war, the Bolshevik revolution, the Great Depression, the election of Adolf Hitler, the second world war,... We may be on the brink of an event as transformative as many of these: the election of Donald Trump as US president. This would mark the end of a US-led west as the central force in global affairs. The result would not be a new order. It would be perilous disorder."

Russian Hackers Breached Democrats' Cell Phones: FBI

Having had most of their computers hacked, a new threat has emerged for Democrats. Reuters reports that FBI investigators believe "foreign hackers" have targeted mobile phones used by "a small number of Democratic Party figures, possibly including elected officials" according to four political and government sources said on Tuesday.

The Onion Fact-Checks Last Night's Debate

Addressing issues ranging from national security to trade to their personal controversies, Democratic nominee Hillary Clinton and Republican nominee Donald Trump squared off in the first presidential debate Monday. The Onion takes a look at the validity of their bolder claims: