With interest in the NFL flagging, professional basketball appears to be seizing the opportunity to win over sports fans and grow the popularity of the league. This momentum has pushed team valuations to new heights, with the median team now being worth a solid $1.56 billion.
Based on what has happened in the global economy, one should be extra careful when calling for more stimulus. It will most likely not benefit the real economy, but it is likely to propel over-valued asset markets even higher.
Chinese troubled conglomerate HNA, whose Co-Chairman Wang Jian allegedly committed suicide during a business trip to France last summer, has once - again - cut its stake in Deutsche Bank by nearly a fifth to 6.3%.
"When upstarts periodically challenge their dominance, central bankers throw the economy into recession, bankrupting new money, consolidating and preserving the existing power structure. That’s how capitalism mixed with democracy and rule of law works."