The Other Alternative Currency

With the nearly daily moves to record highs among the hundreds of cryptocurrencies that currently exist, talking about ‘regular’ currencies seems about as out-of-fashion as that hideous shoulder pad trend from the 1980s...

The State Of Illinois Is "Past The Point Of No Return"

"The State of Illinois is past the point of no return. It does not have the ability to raise taxes or cut spending to the degree necessary to reduce the annual cost of bond and retiree benefits from 33% to a sustainable level...The insolvency is not the result of too much bonded debt, but rather the government promising retirement and other post-employment benefits that aren’t affordable."

Catalan Leader Vows To Declare Independence If Spain Triggers "Nuclear Option"

The Catalan leader said today he would formally declare independence Thursday morning if Mariano Rajoy follows through with his threat to invoke the so-called "nuclear option" of Article 155 and suspend Catalonia’s regional autonomy - a decision that would likely lead to the arrest of Puigdemont and his government, followed by another violent crackdown on separatists.

American Express CEO Ken Chenault Is Retiring

American Express Company said today that its Board of Directors has appointed Stephen J. Squeri Chief Executive Officer and elected him Chairman of the Board, each effective February 1, 2018. Mr. Squeri, 58, will succeed Kenneth I. Chenault, 66, who will retire after a 37-years with the Company.

Something Wicked This Way Comes: McDonalds – A Bear In A Bull Costume

"Building wealth on faulty underpinnings is a strategy ultimately destined for failure... As Halloween nears, we thought it might be an appropriate time to describe the most popular costume on Wall Street, one which many companies have been donning and fooling investors with terrific success..."

FBI Reports 61% Surge In "Felonious" Cop Killings Year Over Year

Coinciding with an unprecedented surge in violence in cities like Chicago and Baltimore last year, the 2016 Law Enforcement Officers Killed And Assaulted (LEOKA) report released by the FBI earlier today has revealed a staggering increase in criminal attacks against police officers.

The S&P 500 Is Now Overvalued On 18 Of 20 Metrics

According to Bank of America, the S&P is substantially overvalued on 18 of 20 valuation metrics. According to Goldman, the S&P is now in the 98% percentile of median historical valuations, meaning the almost market has never been more expensive.

57 Dead, Over 680 Infected As Madagascar Plague Outbreak Escalates

"An outbreak of the plague in Madagascar is spreading at an unprecedented rate... With the ease of spreading the plague, the likelihood that this disease will move to other more densely populated regions of the planet has become a huge concern for many."

Beige Book Signals Inflation & Healthcare Concerns Amid Modest Growth

Despite major disruptions from Hurricanes Harvey and Irma, all 12 Federal Reserve Districts indicated that economic activity increased in September through early October. Several Districts noted increased manufacturing input costs, citing storm impacts (with 58 mentions of the word Hurricane) and labor constraints (employers were having difficulty finding qualified workers), but The Fed notes healthcare service prodviders were less upbeat.