WASHINGTON (AP) — Some politicians think they’ve found a silver bullet for the impasse over the debt limit, except the bullet is made of platinum: Mint a $1 trillion coin, token of all tokens, and use it to flood the treasury with cash and drive Republicans crazy. Even its serious proponents — who are not […]

Authored by Charles Hugh Smith via OfTwoMinds blog, The era of abundance was only a short-lived artifact of the initial boost phase of globalization and financialization. Global corporations didn’t go to all the effort to establish quasi-monopolies and cartels for our convenience–they did it to ensure reliably large profits from control and scarcity. Not all scarcities […]

Earlier this week, with Fed hawks suddenly dropping like flies following the resignations of Boston and Dallas Fed presidents, Rosengren and Kaplan, amid a public outcry over their recently-revealed daytrading activities which benefited them as a direct result of monetary policy decisions they were explicitly and directly involved in, we joked that if the Fed wants to […]

From Zero Hedge: It was a busy week for crypto, with many updates in JPMorgan’s weekly Crypto Weekly note. Here are the highlights: Bitcoin and ether prices rise in the week. The price of bitcoin and ether rose by about 4% w/w and 6% w/w to $48.1K and $3.6K, respectively. This recovery follows the price […]

By Greg Miller of FreightWaves, The number of container ships at anchor or drifting in San Pedro Bay off the ports of Los Angeles and Long Beach has now blown through all previous records and is rising by the day. There were an all-time-high 61 container ships in the queue in San Pedro Bay on Wednesday, according […]