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Nothing happens on Friday. This means more internet surfing, more texting your group chats about what you’re getting into this weekend, and more talking with your coworkers. So read this before throwing down at the water cooler and you might finally be able to impress that new marketer that joined last month.
People have Jobs?
Productivity has never been my strong suit. Take this article for instance. In between paragraphs I’ve watched two episodes of MindHunter (which is amazing btw), ate chili, and took a shower. O, anyways, the US had its most productive third quarter in three years. While this could be a sign that the US’s economy is still chugging full steam ahead, other economists are worried about sustaining this level of acceleration and growth. The number of people filing for unemployment benefits is the lowest that it’s been in 40+ years. Jobless claims are at a 16 year low, which seems like a good sign since its good when people have jobs, but in reality this is a signal that we are near full employment. While there is some worry, we’ll just have to wait and see what Q4 looks like. [via Reuters]
Powell, Right in the Kisser
Trump has chosen to nominate Jerome Powell as the next Fed chair. The current member of the board of governors will replace Janet Yellen once her term expires in February. Yellen was in the running to serve another four year term but Trump decided to go with a slightly different choice. Powell is predicted to head the US central bank in a very similar fashion as Yellen did, with gradually normalizing interest rate hikes and a focus on reducing the Fed’s balance sheet. A possible strike against Powell is that he doesn’t have the academic background or as much economic experience as Yellen did coming into the job, but I’m sure this is the perfect job where you can just learn as you go. Not for nothing, but this seems eerily familiar to a situation one year ago where a man got an important job over a very qualified woman. Opinions aside, hopefully Powell can grab this bull market by the horns and continue its 8 year run. [via CNBC]
It’s Electroneum. Boogie Woogie Woogie
The British are coming! The British are coming! Electroneum is the first cryptocurrency to come out of Britain and the latest and possibly greatest coin to enter the cryptocurrency marketplace. Their ICO (Initial Coin Offering) hit their self-imposed fundraising cap of $40MM USD and the blockchain went live the first of the month. It is deemed as the most user friendly coin out there; moving the decimal two places to the right so transactions appears in the same format as normal currency transactions occur today. It was developed to be used for mobile gaming and online gambling, and being one of the 400 thousand+ people who invested in its ICO. I am excited to see where Electroneum goes in the future.[via Yahoo]
Poundtown
The Bank of England increased their interest rates for the first time since the last time we had a white guy as president. This decision was made to protect the Brits against the rise of inflation that occurred since the Brexit vote. Sterling dropped by more than 1% to $1.30, so if you want to travel to London and buy yourself a nice Burberry coat, now would be the time. The Footsie, or share index of the 100 companies listed on the London Stock Exchange with the highest market cap, was up nearly 1% from the news that the pound dropped in value. And yes, I very easily could’ve just referred to the FTSE 100 as so, but not often do you get to use the term footsie in a business context (well, I don’t anyway). Cheers.. [via The Guardian]
Image via Shutterstock
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@ellisnd02
@ellisnd
1. Better than 99.99% of Yahoo Finance articles I read, nice humor mixed in there.
2. I’m amazed at the pessimism from people at the height of a bull market. It’s gonna go down eventually, but damn, enjoy it while it’s raging forward.
3. Besides maybe lawyers, what is a profession other than financial analysts/stock gurus that can argue as much as they do, while simultaneously agreeing?
Do British people really have bad teeth?
My future wife, Kate Middleton would argue otherwise
You know it’s time to look into crypto currency when Jim Grant from Grant’s Interest Rate Observer begins to talk about them