It is the 21st of March 2018


US National Debt Hits $21 Trillion

For 8 years, we took every opportunity to point out that under Barack Obama's administration, US debt was rising at a alarmingly rapid rate, having nearly doubled, surging by $9.3 trillion  during Obama's 8 years. It now appears that the trajectory of US debt under the Trump administration will be no different, and in fact based on Trump's ambitious fiscal spending visions, may rise even faster than it did under Obama.

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SocGen Slashes Trader Bonuses By 25%

We had been wondering for the past few months why SocGen, which last year was one of the most bullish banks, turned surprisingly sour on the S&P in late 2017 and early 2018 (here and here and any Albert Edwards note of course). We now may know the answer: Societe Generale has cut bonuses for its traders by as much as 25%.

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"We've Been Hearing A Lot Of Complaints" - City Passes First US Bitcoin Mining Ban

In sleepy upstate New York, one small post-industrial city has adopted what's widely believed to be the first bitcoin mining ban in the US. On Thursday evening, the city council in Plattsburgh New York voted unanimously to impose an 18-month moratorium on bitcoin mining, per Motherboard.

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Sound Familiar? Home Flipping In The US Hits 11-Year High

In a disturbing echo of the runup to the housing crisis, a recent study has revealed that the practice of flipping homes in the US is back in vogue - with the number of houses flipped rising to its highest level in 11 years.

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BofA: "This Was One Of The Largest Weekly Buybacks In Our Data History"

One month after Goldman announced its buyback desk had its "busiest week ever", when corporate stock repurchases saved the market from crashing in the aftermath of the February 5 VIXplosion which sent the market into a 10%  correction in just days, companies remain one of, if not the biggest buyer of stock.

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