Yet, 44 startups that have not yet gone public and have not yet been acquired have valuations of over $1 billion, with five of them in (or nearly in) the $10 billion club. Uber tops the list with a valuation of $18 billion. And Snapchat, one of these $10-billion outfits, doesn’t even have revenues yet.
The boys in the banks are at it again, and this time their biggest supporters, if not clients, are central banks and treasury departments. If they can bring down investment requirements for pension funds enough from AAA, and they can at the same time – once again – label mezzanine (aka subprime) tranches of complex instruments ‘AAA’, they got it made. How can you go wrong when you have Mario Draghi himself begging you to to play this game?
The Pentagon would be required to list every individual recruited, and would have to provide information on each person’s background, including any possible links to terrorist organizations. But the bill would not prohibit people with links to terrorist groups from actually participating in the program, the aide said. Such a blanket prohibition could make it tougher to recruit people.
The word “gloomier” inconveniently showed up to describe CEOs outlook about sales, employment, and capital expenditures. Yet, these CEOs spend record amounts, not on productive uses such as capital expenditures or hiring more people, but on buying back their own shares.
No matter how the vote turns out on Thursday in Scotland, either for independence or continued union with Britain, the disintegration of the Old Continent appears almost inevitable.
The U.S. mainstream media’s deeply biased coverage of the Ukraine crisis – endlessly portraying the U.S.-backed coup regime in Kiev as “the good guys” – reached a new level of absurdity over the weekend as the Washington Post excused the appearance of Swastikas and other Nazi symbols among a Ukrainian government militia as “romantic.”
The idea that falling prices are bad for the economy is ridiculous. Taking out insurance against falling prices is even more absurd……..Falling prices are never the problem. Rather it’s central-bank sponsored inflation that causes asset bubbles and promotes debt and malinvestment that is the problem.
Malinvestment bubbles are still possible when the central bank follows Taylor Rules, because by targeting potential output and price inflation the central bank triggers artificial credit expansions. For an example, we need only look to the dot-com bubble which happened even though the federal funds rates were actually significantly higher in the nineties than the most-used version of the Taylor Rule would recommend at that time.
“[A] crash is coming, and it may be terrific. …. The vicious circle will get in full swing and the result will be a serious business depression. There may be a stampede for selling which will exceed anything that the Stock Exchange has ever witnessed. Wise are those investors who now get out of debt….” Roger Babson, Sept 5th, 1929
Warmongers in Paris, St. Petersburg, and London were ecstatic. Churchill beamed, “I am geared up and happy.” But Clark demolishes another myth, that of the delirious throngs. “In most places and for most people” the news of general mobilization came as “a profound shock.” Especially in the countryside…… Peasants and peasants’ sons would furnish the cannon fodder…… In thousands of villages there reigned “a stunned silence,” broken only by the sound of “men, women, and children” weeping…….