Tyler Durden's picture

The True Minimum Wage Is $0 Per Hour

The minimum wage is not what is commonly referred, as is being proven again as parts of the US experiment directly with this boundary. In New York, fast food workers have been given a $15 per hour minimum wage which is being celebrated by the same fast food workers who will bear the brunt of the experimentation. Some of them will be happy with the results, but there will be clear losers – the full wrath of redistribution is usually unseen which is why it persists.



Tyler Durden's picture

Caught On Tape: The Moment Diver Discovers $1 Million In Gold From 300-Year-Old Spanish Shipwreck

For several weeks the Schmitt family had a million-dollar secret on their hands. Last month, it recovered $1 million worth of sunken Spanish coins and jewels off the Florida coast. The Schmitts are subcontractors to 1715 Fleet-Queens Jewels LLC which since 2010 has the salvaging rights to a fleet of Spanish ships, aka the "1715 Fleet", that wrecked off the Florida coast some 300 years ago. While $50 million has been pulled in from the fleet’s resting place so far, this is so far the biggest single haul. The moment of euphoric discovery has been caught on tape, and yes, the diver sounds just a little more excited than were he to discover pet rock.



Tyler Durden's picture

Today's Anti-Capitalists Ignore The Fundamental Problems Of Socialism

When people are hungry and unhappy, the state cannot survive if the people know others are better off. The state uses propaganda, misinformation, and censorship to make an already captive citizenry even more confused and submissive.



Tyler Durden's picture

The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral

"The rise of China’s currency on global markets is arguably the most significant development in currency trading since the introduction of the euro in 1999."



Tyler Durden's picture

There May Be Hope For The U.S. Yet: Caitlyn Jenner's Reality Show "No Ratings Bonanza"

According to Nielsen data, almost three times as many Americans watched "Celebrity Family Feud" on ABC that night. The audience for "I am Cait" also suffered a marked drop from the almost 8 million people who watched the ESPY awards show on television two weeks ago on which Jenner, 65, was presented the Arthur Ashe courage award."



Tyler Durden's picture

Twitter Surges, Then Fades After Hours On User Growth Confusion: The Full Quarter In 6 Charts

Update: *TWTR'S NOTO: THIS IS BOTH A PRODUCT ISSUE AND A MARKETING ISSUE, DOESNT SEE SUSTAINED GROWTH IN MAUS UNTIL REACH MASS MKT

Just like on previous quarters, TWTR decided to use a gimmick when counting users, to wit: "Average Monthly Active Users (MAUs) were 316 million for the second quarter, up 15% year-over-year, and compared to 308 million in the previous quarter. The vast majority of MAUs added in the quarter on a sequential basis came from SMS Fast Followers. Excluding SMS Fast Followers, MAUs were 304 million for the second quarter, up 12% year-over-year, and compared to 302 million in the previous quarter." It took algos a few minutes to digest this fact, and as a result what was initially a solid 10% spike after hours, fizzled almost entirely, and as of this moment the stock had cut its after hours gains notably.



Tyler Durden's picture

Why Your Portfolio Does Not Perform Like The Indices (In 1 Simple Chart)

The average S&P 500 stock is no longer keeping pace with the market's moves... as breadth becomes focused on a shrinking pool of FOMO stocks.



RANSquawk Video's picture

Potential outcomes from the upcoming FOMC rate decision...

The FOMC are to hold their July policy meeting on Wednesday at 1900BST/1300CDT with the overwhelming consensus being that the Fed will once again keep rates at their record low with attention more so on subtle tweaks to the statement given the broader consensus of a September move and given that this month there will be no projections or press conference.



Tyler Durden's picture

Greece's Biggest Mistake Explained (In 1 Cartoon)

Seriously...



Tyler Durden's picture

Stuck In Market Purgatory: How China's Citizens Lash Out At The Broken Market, In Their Own Words

"I have lost everything. I don't know what to do... I trusted the government too much... I won't touch stocks again, I have ruined everyone in my family." "I will sell all my shares tomorrow if there is a chance." ... "I am pretty sure that if the government does not come to rescue us, the situation will get much worse," ...  "I managed to sell them all at a loss today, and so I lost 320,000 yuan in two days. I don't have confidence on the market any more. I don't want to get into the market again."



Tyler Durden's picture

Does "Creative Destruction" Include The State?

When do we get to exercise democracy and fire every factotum, apparatchik, toady and lackey in the state who has abused his/her authority?



Tyler Durden's picture

Austrian Bad Bank "Black Swan" Bail-In Is Unconstitutional, Austria Declares

In a key ruling that may have implications far beyond Austria's borders, the country's constitutional court has struck down a bail-in that would have imposed losses totaling some €800 million on junior Heta bondholders.



Tyler Durden's picture

Blame The Fed For The Commodities Slump

Why the big slowdown? Why is the world falling apart? Because you can’t fake an economic recovery... Instead of “stimulating” a recovery, the feds have “simulated” one.



Tyler Durden's picture

Compromised Hedge Funder Joins BOE In Revolving Door Roundtrip

A former BOE employee and Mervyn King speechwriter who went on to a lucrative private sector career as a bond strategist at Deutsche Bank, and then as a hedge fund economist, is now going back to the BOE as a voting member. And that's not all. This revolving door story has a punchline...



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