Venezuela’s Cryptocurrency shows us OPEC is dead

The Petro is described as a “cryptocurrency backed by reserves of Venezuelan wealth – of gold, oil, gas and diamonds.” The hope is to offer an alternative to Venezuela’s worthless currency the Bolivar and provide means of selling oil and borrowing money.

“The Petro digital currency would appear to be an extension of credit to the Venezuelan government (and) could, therefore, expose US persons to legal risk,” a U.S. Treasury press release stated. “(It) is another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people.”

The Petro’s value will be based on commodity prices, so it will be far more vulnerable to market speculation than a traditional fiat currency like the Bolivar.

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Is Time Warner Making Money?

This is bad; Time Warner cannot monetize one of the biggest superhero franchises in the universe, while Disney can make money off of junk-pop culture properties. To add the nightmare, owning Fox would give Disney many more properties to exploit; including X-Men, Buffy the Vampire Slayer, Deadpool, The Simpsons, and Planet of the Apes.

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The Retail Apocalypse is Alive and Well

Giving Walmart workers an extra $8 or $9 a day might have little or no impact on the economy. Walmart clerks can now afford to buy lunch at In-N-Out Burger; rather than at McDonald’s, how does that benefit the wider economy? Much higher wages will be needed for a real economic stimulus.

It remains to be seen if the $1,000 bonus and wage hike will have any effect on Main Street. Giving average families an extra $1,000 to pay off $1,000 of their credit card debt, might not do much for the economy. The average U.S. household now owes $15,654 in credit-card debt, Nerdwallet estimated.

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Is Ferrari Making Money?

Demand for Ferraris is so high that the company plans to double the shifts at its Milan factory to keep up, Bloomberg reported. Demand for the supercars; all of which cost more than $200,000 apiece, now exceeds the supply.

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American Income Inequality – it’s worse than you think

• Today’s Wealth Gap is equal to that which existed in 1935 and 1940 – the last five years of the Great Depression.

• There are has been no growth in earned income, salary and wage earnings since around 1980 for 60% of the American population.

• Only 40% 0f the population has experienced income growth since 1980, but that income growth has been higher.

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New Customers are coming in so fast Cryptocurrency Exchange cannot keep up with demand

The number of people registering for CEX.IO trading accounts; was so great that the company’s customer service team was unable to process them all, a blog post reveals. Since the post had not been updated on 2 January 2018 and the suspension announcement was still up on that day, it appears CEX.IO is still swamped.

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What can De La Rue Teach us about ICOS?

Despite that opportunity, De La Rue is a lousy stock that investors should stay away from because it makes little money. Those seeking to cash in on ICOs should take a hard look at De La Rue it proves that there is little profit from currency creation.

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Is FedEx making Money?

What was scary was that the Free Cash Flow shrank as the revenues grew – falling to -$699 million. Federal Express has to spend more money to move more freight to generate more revenue, yet ends up with less cash at the end of the day.

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Bettors have Chosen the Next U.S. President and it is Kamala Harris

A half-Indian/half-African woman of colour is the strongest contender to be the next president of the United States according to bettors.
Harris would be the first woman; and the first person of Indian descent, to be president of the United States.

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Can Netflix Ever Make Money?

Netflix is proving that the old description of entertainment as a black hole into which money disappears never to be seen again is absolutely true. As it grows larger and more profitable, Netflix simply becomes a bigger target for the Hollywood predators.

These disparate sets of figures tell us that Netflix is in a race against time. The company is struggling to grow its revenues fast enough and big enough to cover the losses before the bills come due.

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