Real estate

Wells Fargo CEO John Stumpf To Retire Effective Immediately

The most anticlimiatic and predictable outcome to the biggest banking scandal to rock Wall Street in recent years, Wells Fargo;s fraudulent creation of 2 million (or more) fake customer accounts, has just concluded in the only possible way: with CEO and Chairman John Stumpf retiring.

Recession Now... Or Depression Later

Currently economists and market watchers roughly fall into two camps: Those who believe that the Federal Reserve must begin raising interest rates now so that it will have enough rate cutting firepower to fight the next recession, and those who believe that raising rates now will simply precipitate an immediate recession and force the Fed into battle without the tools it has traditionally used to stimulate growth. Both camps are delusional, but for different reasons.

Aussie Property Bubble On A Scale Like No Other

The size of the Australian property bubble is old news. What is less well understood is how such a large and sustained bubble has distorted the Australian political economy. 

Two Words Suddenly Strike Fear In Silicon Valley Hearts..."Price Reduced"

Two very small words that have monumental implications and should bring panic to anyone in tech, “Silicon Valley,” or still holding dreams of cashing out large on the basis of an IPO built on the “Eyeballs for ads” model. And it’s right there in Palo Alto, California for all to see. That is – if one dares look.

The Economic "Recovery" Feels Weak Because The Great Recession Never Really Ended

"We are not in a recovery and were not really in a traditional recession. People think of a business cycle as a boom, followed by a recession and then there are automatic stabilizers that revive the economy, but this time, we can't revive. And the reason is that every recovery since 1945 has begun with a higher, and higher, and higher level of debt. And the debt is so high now that since 2008 we've been in what I call, debt deflation."


Deutsche Bank "Shocked" At "Disorderly, Dramatic" Pound Flash Crash

According to Deutsche Bank, the GBP move has been "shocking", and it will only get worse. The German bank's FX analyst George Saravelos writes in a note to clients that Deutsche Bank expects the pound to revisit lows seen during the Asia session and forecasts GBP/USD to trade at 1.15 by next year.

A Look Inside Key West's Battle To Prevent Release Of GMO Mosquitos

We’ve all heard of the Zika virus. What you probably haven’t heard of is British biotechnology company Oxitec, purchased last year by billionaire Randal Kirk. A company that has released A. aegypti killing GMO mosquitos in at least Brazil, Malaysia, Panama and the Grand Cayman islands. The company also planned a release in the Florida Keys, but has thus far been stopped by a group of determined activists.

Absurd Thinking’s pretty obvious where things are headed. This isn’t a political problem. It’s an arithmetic problem. And the math doesn’t add up. The alternative is to assume that the Fed possesses some magical fairy dust to fix everything without any consequences... or that there will never be a recession ever again until the end of time.