News Stocks 

Twitter’s stock is the highest it has been all year after its hate purge

“Twitter’s stock is up 8% after the company began purging accounts that push racist and other hate speech” writes Shona Ghosh for businessinsider.com. Twitter’s stock has been climbing steadily over the last week, fuelled in part by a photo from the CEO of Goldman Sachs. Investor Chris Sacca said the continued issue of bots was “embarrassing” before revealing his firm had sold most of its stock.Twitter began suspending hateful accounts on Monday afternoon, with the leaders of far-right group Britain First, Jayda Fransen and Paul Golding, among the first to…

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Crypto Markets News 

Bitcoin’s wild volatility could soon start shaping other markets

“In a note on Monday, Rochester forecast that bitcoin would have a growing impact on energy markets, particularly coal” writes Akin Oyedele for businessinsider.com. “Estimates were made in March 2016 expecting Bitcoin’s energy consumption to match that of Denmark by 2020,” Rochester said.”It may be too early for Bitcoin to have a global impact on other asset markets at this stage,” Rochester said.So if it’s not risk-off inspired price action from bitcoin that moves other markets how about higher energy costs?”. While experts debate bitcoin’s role in a world still…

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Markets News 

CPI and Retail Sales in November 2017 and Gold

“Chart 2: Real retail sales and food services sales (blue line), retail sales excluding food services (red line), and retail sales and food services sales excluding motor vehicles and parts dealers (green line) year-over-year from November 2012 to November 2017” reports fxstreet.com. When we exclude vehicles, retail sales rose 1 percent in November due to the unusual strength in e-commerce.U.S. retail sales jumped 0.8 percent in November following a 0.5 percent rise in October (after an upward revision from 0.2 percent). Source: fxstreet.com Share This:

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News 

Amtrak train crash: ‘multiple fatalities’ reported in derailment near Seattle

“An Amtrak train has derailed roughly 40 miles (64km) south of Seattle, spilling cars on to a busy interstate” writes Amanda Holpuch for theguardian.com. The Pierce County sheriff’s office said in a tweet that the derailed train had struck several cars on the interstate. “Multiple motorists injured on roadway, no fatalities of motorists reported,” it said. Source: theguardian.com Share This:

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GBP News 

The British elite is at war with itself – on a scale we’ve never seen before

“If they do that in times of crisis, as Orwell did in the second world war, you can forgive daft hats at Ascot and the crazy rigmarole of regimental dinners” writes Paul Mason for theguardian.com. The Daily Mail’s front page, attacking the Tory Brexit rebels and triggering an avalanche of threats and abuse, was just the latest example of a culture war inside the British elite that makes any remaining class resentment against them look mild. Source: theguardian.com Share This:

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News 

Vacation Perks and Retirement Benefits Are Propelling Worker Pay Packages

“Employers are spending more on vacation perks and retirement contributions, helping to propel overall compensation package growth to its fastest pace in two years” writes Eric Morath Wsj for wsj.com. Private-sector workers’ average hourly compensation, including both pay and benefits, advanced 4% from a year earlier in the third quarter, according to new Labor Department data. Source: wsj.com Share This:

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News 

Factor hanging in balance for Americans

“Correction: An earlier version of this article said the original House tax bill had been introduced in October” writes Josh Barro for aol.com. Running the tax cuts for fewer years reduces the official cost of the bill.The bill will make taxes simpler for many individual income taxpayers by greatly reducing the number who itemize deductions.Seven percent was the Tax Policy Center’s estimate of what share of taxpayers would face a tax increase in 2019 under the version that passed the Senate last month.The tax cuts for middle-income families are eroded over time…

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News 

Allegations that led to his resignation

“A federal judge on Monday announced his retirement from the bench, in response to accusations of serial sexual misconduct, including groping and showing pornography to his female law clerks and staffers” writes Marina Fang for aol.com. Judge Alex Kozinski, a veteran of the powerful 9th Circuit Court of Appeals in California, said in a statement that he is retiring “effective immediately” because “I cannot be an effective judge and simultaneously fight this battle.” At least 15 women have said Kozinski subjected them to “a range of inappropriate sexual conduct or comments”…

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News 

Puerto Rico’s governor orders recount of deaths after Maria over concerns official figure may be too low

“The governor of Puerto Rico ordered all agencies of his government to reopen their books and initiate a recount and review of certified deaths related to Hurricane Maria after weeks of reporting from various news outlets pointing to a severe undercount of storm fatalities” reports washingtonpost.com. Rossello cited the time it took to determine the final death toll for Hurricane Katrina to ask for patience as they conduct their review. “The number is likely to go up,” the governor told the Washington Post.The independent analyses put the death count at…

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News 

The most infuriating falsehoods about the tax bill and those who told them

“First, President Trump and his senior adviser insisted the tax bill would not benefit the rich” reports washingtonpost.com. The bill is in fact likely to save him tens of millions of dollars, given the tax breaks for the rich (e.g. reducing the top marginal tax rate, installing a pass-through tax deduction, paring back the estate tax).James Lankford (R-Okla.) had this jaw-dropping exchange on Sunday on “Face the Nation”: LANKFORD: Actually, all the independent analysis doesn’t note that [the tax bill would grow the debt by $1 trillion or more].A revenue-neutral corporate…

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