Karl Denninger talks data collection by big companies
Karl Denninger of the Market Ticker blog gives his take on big companies and private data collection. He also talks about the effectiveness of NSA data collection programs. Check it out.
Stocks plummeted amid a collapse in crude prices, and drama in Greece continues.
The S&P 500 saw its biggest drop since October on Monday. Energy sector stocks led a broad selloff on Wall Street as crude prices fell to five-and-a-half year lows, and a strong dollar weighed on other commodities.
Dow industrials shed more than 300 points Monday afternoon, while the S&P 500 slid 37-points to TWENTY/TWENTY-ONE, and the Nasdaq declined SIXTY-SEVEN-points.
Prices of crude oil futures dropped to their lowest levels since May 2009, amidst a lack of demand and global supply glut.
Oil fell below $50-dollars a barrel for the first time in nearly six years Monday, sending shares of S&P 500 energy companies tumbling nearly 4%.
Greek politics has weighed heavy on the markets -- as speculation about Greece potentially leaving the euro zone (following a snap election on January 25th) has intensified.
European stock markets have held back over the last month over concerns about Greece; where the left-wing opposition party Syriza -- which wants to cancel a chunk of Greek debt, and the austerity measures imposed after an international bailout --- closely leads in opinion polls.
Energy, the Euro, the Dollar, commodities, sanctions… it’s fair to say 2015 is off to a running start!
Then, Erin Sits down with – John McDonnell, Co-founder and CEO of BitNet, to get a better understanding of the bitcoin payment process. John tells Erin how his company safely move money between customers and merchants, and why consumers should use cryptocurrencies INSTEAD of credit cards.
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Our lead story: Last summer a lawsuit was filed by Perry Capital and several other hedge funds which argues that the government is taking too much of the profits from Fannie and Freddie. Perry, and the other funds, own preferred shares in the companies that they believe are worth not so small fortunes if only the government would stop hogging all the profits! Erin takes a look.
Then Erin sits down with former congressman Ron Paul to get his take on US domestic and foreign policy. Paul describes what role he feels the US should play in the world, and also argues that the government should get out of the economy because it's hurting the American recovery.
In today's Big Deal, Edward Harrison and Erin talk about a $24/hr minimum wage proposal in Switzerland. Sounds like a nice payday. Edward gives you his take.
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If you bought one of the Volkswagens caught up in the emissions scandal your money refund could be on its way. The Dakota Access Pipeline looks like it will continue, but protesters are fighting that pipeline and many more across the country. Then, Alex Mihailovich explains why digital pirates in the United States may be off the hook, but don’t click too fast if you’re in Canada. And Lindsay France talks with Economist Richard Wolff to break down the big money behind For-Profit schools and how they just aren’t cutting it for students.
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Since launching its NASDAQ IPO, stock trading app Robinhood has seen its stock take some volatile turns. Boom Bust's Christy Ai lends her insight into the listing and what we can expect as Robinhood becomes a mainstay for retail investors. (1:05)
And New York City has become the first place in the United States to announce a vaccine passport in order to do most indoor activities. Boom Bust's Ben Swann and Jeffrey Tucker of the Brownstone Institute offer their takes on the new announcement and if we could soon see the same in Europe. (8:51)
Then we turn to the United Kingdom where the nation's central bank has decided to hold its action steady in the face of growing inflation. Hilary Fordwich of the British-American Business Association brings us up to speed on the Bank of England's decision to stay the course. (19:49)
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Steve Malzberg sinks his teeth into the slander, hypocrisy, bias and lies of MSM. MMM…Delicious! Eat The Press: http://bit.ly/EatThePress
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Cate Long, partner at Puerto Rico Clearinghouse, tells Erin if restructuring in Puerto Rico is inevitable and if it should happen sooner rather than later.
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G20 2017 is underway! For the next two days the Great 20 are in Hamburg, Germany for a summit to discuss trade and finance. Simone Del Rosario breaks down the basis; the leaders, the countries, and the purpose for this summit. Former US Trade Commissioner Bart Chilton will be talking about this big hairy mess as Trump attends his first G20. What does Trump need to do to smooth over our relationship with the other leaders? Rounding us out, Lionel from Lionel Media is sitting down to talk to us about the money that CNN is making off of Trump and Russia headlines. That and more on today’s Boom Bust!
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Puerto Rican businesses are trying to catch up to where they were prior to Hurricane Maria; Antonio C. Martinez II joins Bart Chilton as they discuss business recovery. Bart sat down with the wonderful Sasha Kramer from SOIL as they discussed Haiti. That and more on Boom Bust.
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Airlines are looking to sell you a cheaper seat and ticket, but without the benefits of a normal plane ticket. Gary Leff joins us to discuss why the biggest airlines are looking to these basic economy seats. Trinity Chavez joins us from New York as we examine the fate of retailers and the fight against the rise of e-commerce. Prof. Dan Ariely spoke to us about why consumers aren’t spending smarter and the tricks that companies use to make you think you’re getting a good deal.
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Greece gave up its currency to be a part of the Eurozone. It now finds itself alone in the currency union. Reports from multiple sources indicate that the European Central Bank is poised to start a quantitative easing program on January 22 to help prevent deflation from setting in, but there is one sticking point: every nation’s sovereign bonds will be eligible for purchase in the program… except for Greece. Edward Harrison weighs in.
Then, Erin joins Edward via Davos, Switzerland to discuss the World Economic Forum’s Annual Meeting. Erin tells us how the recent 20% appreciation in the Swiss franc is affecting the local economy, if there are any protests, and about issues on the agenda for the meeting’s first day.
After the break, Edward is joined by Daniel Alpert, managing partner at Westwood Capital. Dan tells us what he makes of the ECB’s QE plans that has only national central banks buying their national government bonds and gives us his take on the likelihood of a euro appreciation due to deflation. He sees the global oversupply of factors of production and labor as the key to the disinflationary environment buffeting all economic areas.
And in The Big Deal, Edward and RT correspondent Ameera David discuss net neutrality. Take a look!
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