Real Wage Growth Slumps To Weakest Since May

Despite soaring expectations, real average weekly earnings growth is slowing dramatically, falling 0.1% MoM in September - the second monthly decline in a row.

More Bad News For Autos: Wells Fargo Car Loan Originations Crash To All Time Low

While Wells Fargo's earnings report was disappointing, missing on revenue and reporting another decline in overall loan growth, it contained another flashing red light: auto loan originations crashed 47% Y/Y to only $4.3 billion, the lowest print since the bank started disclosing this item back in 2013.

Storm-Impacted Retail Sales Disappoint Despite Biggest Spike Since March 2015

Following August's slump (worst since Jan '16), September's retail sales data was expected to surge 1.7% MoM (thanks in large part to the spike in auto sales) but it disappointed with a 1.6% spike (still the most since March 2015). The main drivers (as expected) were a surge in gas prices (biggest gain in 4 years) and auto sales (biggest since March 2015).

Are You Better Off Than You Were 17 Years Ago?

The gulf between these two narratives - the ever-higher financial statistics, and our unsettling sense that we're less secure, less healthy and less wealthy - is widening.

Bitcoin Is Now Bigger Than Morgan Stanley

On the back of (unconfirmed) rumors suggesting China may back down from its harsh stance of ICOs and crypto exchanges following this week's National Congress, the price of Bitcoin soared overnight, testing near $5900 before falling back a little this morning. That has pushed Bitcoin's market cap above $90 billion for the first time, surpassing PayPal, Netflix, and Morgan Stanley...

The Underlying Reasons For Turkey's Disengagement From The US

" The post-war threats to Turkey’s security that at one time prompted its close integration with Western institutions, including NATO, simply do not exist today. And they are unlikely to reemerge. The real dangers for Turkey all come from a completely different direction - the Middle East..."