December 23, 2017

Happy Holidays everyone! Last post for the year. Cheers, Duff

Perspective

How Much – American Consumption Greatly Varies by State – Raul 12/19

Markets / Economy

Bloomberg – Subprime Auto Defaults Are Soaring, and PE Firms Have No Way Out – Gabrielle Coppola and Claire Boston 12/21

Finance

MarketWatch – How much has been lost in Friday’s cryptocurrency rout? Nearly $200 billion – Ryan Vlastelica 12/22

  • “The entire universe of digital currencies has seen heavy selling pressure on Friday, resulting in a 12-digit decline in total market capitalization since just midnight.”
  • “The size of the entire cryptocurrency space is about $426.14 billion, according to pricing website CoinMarketCap, down from $610.43 billion at the start of the day. (Eastern time; digital currencies trade 24 hours a day.) That’s a decline of more than $184 billion, which is larger than such iconic companies as Boeing Co., PepsiCo Inc., and Walt Disney Co.”  
  • “The weakness was driven by bitcoin the world’s largest digital currency, which has tumbled in recent days. The asset has dropped by more than a third since Sunday’s all-time high; it fell 27% to $11,301.16 on Friday, after nearly breaching $20,000 on Dec. 17.”
  • “The space is notoriously volatile, and other digital currencies also tumbled in Friday trading. Ether, which runs on the Ethereum network, is down 33%, trading at $561.19. It hit a high of $827.68 earlier in the day. Despite that, both remain sharply higher on the year; bitcoin started 2017 below $1,000, while Ether ended 2016 at around $8.03.”

 

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