bitcoin Cryptocurrency News hong kong Op-ed 

Bitcoin Twitter Is Daydreaming About a Hong Kong Bank Run

Crypto-fever dreamers cheered as Hong Kong protesters suggested organizing a bank run, but apparently rioters didn’t flock to bitcoin. | Source: Shutterstock By CCN Markets: There’s nothing like a bank run to bring out the bitcoin-fever dreamers. Hong Kong protesters reportedly tried the tactic in their latest effort to stop what they see as unfair practices of their government. A prominent leader of the protesters called for a run on the banks, urging people to drain their accounts. The call was music to the ears of bitcoin enthusiasts, many of…

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facebook Libra Mark Zuckerberg Op-ed U.S. Business News 

Facebook Contractor Spies on Horrified Moderators. When Does It End?

A Facebook partner is spying on its own traumtized content moderators, giving us even more reasons to distrust Mark Zuckerberg’s company. | Source: AFP PHOTO / Brendan Smialowski Facebook released a video last year apologizing for its data misuse that likely swayed the 2016 election. It ends by saying “if this place does what it was built for, we all get a little closer.” That is the problem, Facebook. It’s time to back off. The Intercept just released an exposé detailing how managers at the Austin, Texas outpost have been…

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Op-ed U.S. Market News 

Half the World’s Economies Are Headed for Recession

More than half the world’s economies have inverted yield curves, which is a dire signal that a global recession may be on its way. | Source: Shutterstock By CCN Markets: Fifty-three percent of countries that offer sovereign debt currently have inverted yield curves, according to one economist. If the percentage gets much higher, there is a strong possibility of a global recession. Daniel Lacalle, Chief Economist at the Madrid-based investment firm Tressis SV, delivered the news via Twitter: Percentage of inverted yield curves globally exceeds 50%. (macrobond) pic.twitter.com/eP93EQFcwp — Daniel…

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Adam Neumann Elon Musk Op-ed U.S. Business News WeWork 

WeWork’s CEO Is the Next Elon Musk

WeWork CEO Adam Neumann is on track to become the next Elon Musk. That might sound like a compliment. Trust me – it’s not. | REUTERS / Eduardo Munoz By CCN Markets: The last thing an investor wants to read in an IPO prospectus is a warning that the company’s CEO may have committed an SEC violation – even an itsy-bitsy one. But that’s the case with WeWork co-founder and CEO Adam Neumann, who is on track to become the next Elon Musk for all the wrong reasons. Let me…

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IPO Op-ed U.S. Business News WeWork 

WeWork’s IPO Will Go to Zero After the First Recession

WeWork’s IPO will fail because its business model requires a booming economy. The next recession will destroy the company.  | Source: Shutterstock By CCN Markets: There’s a song that says, “one is the loneliest number.” In fact, zero is the loneliest number, especially when it is preceded by a dollar sign. And $0 is where WeWork stock is going to go after the next recession hits, but don’t count on anyone else to tell you that. So avoid the WeWork IPO. The We Company’s Business Model Is Destined to Fail WeWork,…

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Dow Jones Op-ed stock market U.S. Market News 

Don’t Be Fooled. This Dow Jones Bounce Is Nothing but a Head Fake

Donald Trump’s easing of tariffs sent the Dow Jones higher on Tuesday, but don’t be fooled. A crash is coming. | Source: Drew Angerer / Getty Images / AFP By CCN Markets: News that Donald Trump would delay the imposition of tariffs on some Chinese goods sent the Dow Jones rocketing today. Beware, though, because it’s a head fake before the inevitable crash. The Dow Jones Industrial Average rose 372 points to 26,280, an increase of 1.44 percent on Tuesday. That’s because Donald Trump and the Treasury Department announced that additional tariffs…

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bitcoin Bitcoin Analysis Op-ed store of value 

Bitcoin Will Never Be a Store of Value. Here’s Why

Bitcoiners claim that BTC is a store of value, but it doesn’t meet the requirements, according to one fund manager. Source: Shutterstock As the resident bitcoin skeptic at CCN.com, it’s my job to make logical and reasoned arguments against holding bitcoin. Today I argue that bitcoin is not a store of value as some claim, and never will be. It’s not even a hedge. “Store of Value” Does Not Mean What You Think It Means The concept of a “store of value” means that a given object can be exchanged…

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Bitcoin Analysis bitcoin etf Op-ed sec VanEck 

The SEC Punts on Bitcoin ETFs and Will Never Permit Them

The SEC punts on whether it will or won’t approve 3 new bitcoin ETFs, signaling that it isn’t prepared to regulate BTC this way just yet.  | Source: Shutterstock; Edited by CCN The U.S. Securities and Exchange Commission (SEC) is delaying its decisions on whether to approve or kill three new bitcoin ETFs. The bitcoin ETF offerings from VanEck, Bitwise, and United States Bitcoin and Treasury Investment have each been under consideration for months, and the SEC is pushing its decision out to the maximum amount of time permitted under federal…

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Lyft Op-ed U.S. Business News Uber 

Uber’s Wheels Are Coming Off amid a $1 Billion Loss

Uber lost a billion dollars in the last quarter, but there is still some decent growth in its business. The problem is Uber won’t make money for a while. | Source: Shutterstock Mega-unicorn Uber reported earnings, or rather losses, on Thursday that demonstrate why hype doesn’t always work in a company’s favor. Let’s hit the headline numbers and explain what they mean for Uber’s stock. Solid Growth Across the Board Just like its rival, Lyft, Uber saw a significant increase in gross bookings. That metric was up 31% to $15.76 billion….

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Donald Trump google Op-ed Sundar Pichai U.S. Business News 

Google’s Stock Now Has a Greater Chance of Crashing on DOJ Probes

Donald Trump tweeted out attacks on Google’s CEO, echoing criticisms of the company’s anti-conservative bias. | Source: (i) AP Photo/Jacquelyn Martin (ii) AP Photo / Jeff Chiu, File; Edited by CCN President Donald Trump attacked Google CEO Sundar Pichai in his latest tweetstorm. It’s standard Donald Trump to jawbone at his opponents, and Google would be wise to pay attention. Donald Trump usually follows his attacks with real action. Check out what @Google is up to for the 2020 election! #KAG2020 pic.twitter.com/roM2WNmUSP — Donald J. Trump (@realDonaldTrump) August 6, 2019…

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