Water Cooler Throw-Down: A Business Recap For The Week

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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.

Trump having PR problems

Surprisingly, this is not the typical type of PR problems that we’re accustomed to el Presidente’ having. Trump, who has dealt with debt from his Atlantic City casinos and is currently staring down the barrel of $20 TRILLION dollars of debt this great country of ours has amounted has made comments that Puerto Rico’s debt will need to be wiped out. While his words don’t make the debt disappear like a magic wand, this did decrease the value of Puerto Rican bonds after his speech. The US territory currently has $70 billion in debt, but that’s really just a drop in the bucket compared to the US’s. Makes me feel a bit better about my student loan debt and that round of shots I’ll inevitably be buying this weekend. [via CNBC]

Goldman Sachs bites with bitcoin

Bitcoin has surged this year, increasing in value 345% YTD. While there once was a physical bitcoin exchange right next to the NYSE that has since closed, Goldman Sachs would be the first actual Wall Street firm to roll up its sleeves and deal directly with this decentralized digital currency. GS is still in its preliminary stages of these efforts, but it’s a good first step in what I think will be a major way we send payments in the future. [via WSJ]

Life’s a Breach

Apparently anything that’s connected to the interwebs can or will be hacked within the next few years. While Equifax’s former disgrace of a CEO Richard ‘DICK’ Smith is facing Congress this week for his role he played in the Equifax data breach, Yahoo also revealed that its data breach from 2016 affected all of its 3 BILLION customers. Apparently my parents were right when they told me to be careful about what information I put out onto the internet. The crazy thing about Smith is that his leave from the company was arranged as a retirement so that he can still enjoy his $7.6 million bonus and his future millions of dollars he’ll receive in stocks over the upcoming years. Meanwhile, I sit here working in my cubicle, haven’t gotten anyone’s identity stolen this year (besides my own thanks to Richard), and am still crossing my fingers that I get a bonus at years’ end. [via The Hill]

U Up?

The S&P 500 was indeed up at close for its seventh straight day in a row on Thursday. The DOW posted yet another record high as apparently the market can do no wrong this year. This was partially caused by oil staying over that $50 threshold, as it hopes the Saudis and Russians agree to extend their production cuts. And as I was leaving work yesterday I saw someone from CNBC say just put your money in stocks, it doesn’t matter which ones at this point. In other words, business is booming. [via CNBC].

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EllisND

financial analyst. bgsu grad. comedian. big gif guy.

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