08-11-2016, 10:13 PM
Marc Faber, editor of the Gloom, Boom & Doom Report, is well-known his perennially bearish take on the overall market. But there are also some specific stocks of which the investor known as "Dr. Doom" takes a particularly dim view — and right now, prime among those is Tesla. "What they produce can be produced by Mercedes, BMW, Toyota, Nissan. Anybody in the world can make it eventually, at much lower cost and probably much more efficiently," Faber said Monday on CNBC's "Trading Nation."
Marc Faber: Tesla shares are going to $0
Household debt — which includes things as varied as mortgages and credit cards — increased to $12.29 trillion in the second quarter of 2016, an increase of $35 billion, or 0.3%, according to the Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit. "Overall household debt remains 3.1% below its 2008 Q3 peak of $12.68 trillion, but is now 10.2% above the 2013Q2 trough," the report said. The biggest increases came from auto debt and credit-card debt, which ticked up by $32 billion and $17 billion.
Americans have $12.29 trillion of debt — here's what it looks like - Business Insider
The world's billionaires are holding more than $1.7 trillion in cash — the highest amount since one firm began recording the measure in 2010. Because of what they perceive to be growing risks in the economy and world, the world's 2,473 billionaires are keeping 22.2 percent of their total net worth in cash, according to the Wealth-X Billionaire Census.
Billionaires are holding $1.7 trillion in cash
"Marrying because you are deeply attracted to someone and have fallen deeply in love with someone and are lusting [after] that person — all of these are rather recent ideas. "They come with romanticism; they have arrived in the west about 150 years ago. And never has love been the foundation for marriage — and certainly not in love and in passion." Perel said that, in the traditional model of marriage, "we want companionship, family life, social status, and respectability, and economic support." But our desire for those things didn't disappear when the modern, romantic model of marriage took hold. We simply added more requirements to the mix.
Esther Perel: Why modern marriage is so hard
The jobs report for July was even better news for workers than the headlines suggest. Jobs, weekly hours and hourly earnings all rose strongly for the month. The combined effect was to lift private-sector wage income by 0.8%, almost 10% on an annualized basis. While the pace is unlikely to stay so strong in coming months, a tighter labor market will continue to favor workers in their wage negotiations.
In Labor vs. Capital, Labor Is Now Winning - Real Time Economics - WSJ