On a cold Tuesday afternoon on January 12, around 950 financial professionals gathered in a hotel basement to hear terrifying theories on how the next financial collapse will come about.
It was hosted by Albert Edwards, an economist at Societe Generale and the voice of market bears – the name given to people who think imbalances in the financial system will lead to a collapse at some point.
Chinese authorities have escalated their market intervention in a bid to prop up stocks after $590bn was wiped off shares on Monday.
Beijing’s state-owned financial institutions hoovered up shares, and regulators extended a selling ban on major companies, to quell investor fears after a tumultuous start to 2016 trading.
GOP presidential frontrunner Donald Trump warned The Hill in an exclusive interview of a looming economic recession, arguing that the stock market has already entered into another bubble.
He also slammed the 2010 Dodd-Frank Wall Street reform law as a “disaster” that has stifled economic growth.
Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent.
It’s 6-foot-2, with laser eyes and vise-grip hands. It can walk over a mess of jagged cinder blocks, cut a hole in a wall, even drive a car. And soon, Leo, Lockheed Martin’s humanoid robot, will move from the development lab to a boot camp for robots, where a platoon’s worth of the semiautonomous mechanical species will be tested to see if they can be all they can be.
Next month, the Pentagon is hosting a $3.5 million, international competition that will pit robot against robot in an obstacle course designed to test their physical prowess, agility, and even their awareness and cognition.