Robots are going to take all our jobs, and it doesn’t matter. We should actually be thrilled about the prospects of automation, because it means freeing up economic resources, including arguably the most valuable resource, time.
Having sent crude oil pries tumbling overnight by admitting they cheated on OPEC production cuts, Saudi officials are desperately trying to unwind that faux pas by claiming the over-production was purely for domestic storage. The problem with this "explanation" is that Saudi deliveries to China soared in January...
The EU is facing an existential crisis and does not look like it will survive the massive political and financial challenges it is faced with. This has ramifications for investors in the EU itself and throughout the world.
"If they infringe on the DPRK's sovereignty and dignity even a bit, its army will launch merciless ultra-precision strikes from ground, air, sea and underwater," the North's state news agency KCNA adding that "on March 11 alone, many enemy carrier-based aircraft flew along a course near territorial air and waters of the DPRK to stage drills of dropping bombs."
European stocks declined for first session in five ahead of Wednesday's Dutch elections and Fed rate hike announcement. Fed concerns also dragged down Asian shares and S&P futures, while the dollar rose. Crude oil has ended its six-day drop. The pound tumbled 0.8% to the lowest since mid-January in a delayed reaction after Theresa May won permission to trigger the country’s departure from the EU.
"...the US Shale revolution will accelerate the breakdown of the global order as we know it, reshaping global geopolitics, leading to three major conflicts - Russia vs. Europe, Iran vs. Saudi Arabia & an Asian Tanker War"
"It seems evident that the CIA is now a state within a state, an entity out of control that has even arrived at the point of creating its own hacking network in order to avoid the scrutiny of the NSA and other agencies."
China is set to deploy anti-radar countermeasures which will neutralize the South Korean THAAD. The THAAD system consists of a sophisticated radar and interceptor missiles designed to spot and knock out incoming ballistic missiles.
"We reiterate our view that Oil is defying gravity at current levels and is set to revisit lows in the not so distant future, due to overwhelming structural factors such as exponential technologies, shale oil/shale gas/nat gas, substitution effects. Long-term prospects have little bearing in the short-term for price-discovery, but do provide a magnet for prices over time."
"The economy looks to me like a type of Ponzi Scheme. It depends on both rising energy consumption and rising debt. Judging from the problems we are having now, it seems to be reaching its limit in the near term. Raising interest rates will tend to push it even further toward its limit, or over the limit. The world economy is operating at too close to 'stall speed'. The financial system is too fragile."
"Instead of taking our pain in the short-term, we have sold future generations as debt slaves... The best that our leaders can do for now is to keep the bubble alive for as long as possible, because what comes after the bubble is gone will be absolutely unthinkable."
The Winkelvoss Bitcoin ETF just might be salvageable. There were some fairly egregious misconceptions and dated understandings in the SEC's reasoning to reject the application. I can show those who are interested how to construct a stronger application that overcomes the objections. The demand is there, we just need to get the vehicle correct.
Ethereum has surpassed its all-time highs on Monday, rising above a record $30 per coin. At publication time, the digital currency had soared by more than 35% in the past 24 hours, and has tripled since the start of the year.