In the market, extreme optimism results in price bubbles. One of the real-life manifestations of extremely positive social mood is the construction of enormous buildings. Market tops and skyscrapers often seem to emerge simultaneously, because both phenomena are the result of the illusion of infinite prosperity. But extreme psychological conditions do not last very long...
It’s important to acknowledge that the U.S. economy has morphed into one gigantic lawless crime scene. An environment in which crony insiders who add zero value to society parasitically feast on the country’s treasure. In the case of so-called “think tanks,” we have organizations receiving copious taxpayer subsidies for the privilege of screwing over the American public.
An era of slowing growth, falling corporate profits, record debt levels, and currency debauchment has many investors buying gold as a bet against global central banks... but what are the best countries in which to store that gold?
In a mostly quiet session, European and Asian stocks rose, pushed higher by financial stocks and the USDJPY which initially dipped on some hawkish comments by BOJ deputy governor Iwata, only to rebound later in the session, lifting the Nikkei 1.1%, while the Stoxx 600 rose 0.4% led higher by the banking sector. S&P futures are unchnaged after yesterday's last hour ramp. The key event is the BOE decision due in half an hour.
Emirates Airline reported that its flight EK521 was involved in an "accident" which occurred at 12:45pm local time (08:45 GMT) on Tuesday, without giving further details. Gulf News reported that an Emirates flight from India made an emergency landing at the airport and all passengers were escorted to safety.
Gasoline stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) hub rose more than 12% to an all-time high in the week to Thursday. This comes at an awkward time for the industry: just as Chinese gasoline exports soared by 75% in one month, prompting concerns about the future of the price of oil.
In what is the latest outbreak in Dubai's recent incendiary "epidemic", shortly before 3pm local time a fire broke out at a 75-floor residential tower in Dubai, the fifth blaze in a skyscraper in the oil-rich United Arab Emirates in recent years.
New York City’s ultraluxury real estate frenzy has finally come to an end. In and around West 57th Street, known as Billionaires’ Row, “it’s not just slow — it’s come to a complete halt,” said Dolly Lenz, "That’s a death knell."
Goldman Sachs, the pillar of honesty and integrity is fighting in court to keep the Libyan Investment Authority (LIA) from clawing back $1.2 billion the LIA says was lost through nine disputed trades conducted in 2008.
The writing of this historical synopsis is an attempt by this former artillery officer with a father buried in a veteran’s cemetery to understand why brave Americans were sent to their death in the Middle East and are still dying there. The hope is that we finally can learn from history and not keep repeating the same mistakes.