Quote of the Day
“Adventure is not outside man; it is within.”
– George Eliot
5 Things You Need to Know Today
Now is NOT the Time to Start a Shipping Company. The Baltic Dry Index, which measures shipping costs, reached an all-time low. China’s economy is slowing. Demand for shipping is down. Many analysts worry that this is a sign that the entire global economy is set for recession.
The Entire Global Economy Is Set for Recession. Concerns about unrest in the Middle East, plus a poor showing in the Asian stock markets, coupled with a number of made-up reasons, has brought strength to the Japanese Currency. The yen is a safe-haven currency and when the global economy hits the proverbial fan, it goes into orbit.
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
Jeff Bezos Went into Orbit. Blue Origin, backed by Bezos, flew into orbit, returned to earth, and landed on its pad. Then Mr. Bezos jumped on Twitter for the first time to gloat – of course Elon Musk had to troll him. This could open up a new chapter of privatized space travel and investment.
Barclays Pays Another $150 Million in Fines for “Trolling” Customers. The penalties cover sneaky trading behavior. Turns out, their trading platform would (in some cases) only process orders that would be profitable for the bank. And reject the rest, like a troll on a bridge.
Startup of the Day: Ribbon. This startup promises to text you gift ideas if you are dumb boyfriend and can’t figure out what to get the one you love. They run the entire business by text message. I like that.
Chart of the Day
When the world economy goes into the toilet, the Japanese yen gets stronger. And it won’t matter that the Fed is going to hike rates. I am watching for a sell trade below 122.20, with a target down into the 118 area. And I’ll add to the trade if it goes my way.
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