Merrill Lynch

Bitcoin, Blockchain, And Bank Of America

"The growing pile of public debt in the US is why price stability will never be part of the mix... and is why dollar-alternatives like bitcoin, imperfect and even fraudulent as they may be, will continue to capture the attention of those seeking to escape the economic tyranny of fiat paper money..."

Frontrunning: October 23

  • Trump Backs GOP Incumbents, Hinting at Bannon Conflict (WSJ)
  • Japan's Abe to push pacifist constitution reform after strong election win (Reuters)
  • Yellen Says Fed May Need to Use Unconventional Policy Again Some Day (WSJ)
  • Big money shies from booming bitcoin (Reuters)
  • This Big Tax Cut for ‘High Fliers’ Shows Why an Overhaul Is So Hard (BBG)

Robert Shiller: 1987 Could Happen Again

"Oct. 19, 1987, was one of the worst days in stock market history. Thirty years later, it would be comforting to believe it couldn’t happen again. We are still at risk, however: That kind of panic can certainly happen again."