ECONOMICS

What's the highest-valued startup in the world? Why, ByteDance – makers of Chinese social media app TikTok, which one might suspect endeavors to drive the collective IQ into double-digits one ADHD-triggering clip at a time, according to the CB Insights unicorn list (the valuation, not the commentary).

In fact, as Katharina Buchholz of Statista further notes, the top 8 highest-valued startups in the world only features one non-U.S. and non-Chinese company, Fintech app (more…)

While China keeps regurgitating the same tired and trite line about an "imminent" fiscal and housing stimulus, which reportedly is in the "trillions" of yuan, yet which to date is entirely imaginary and never actually materalizes, its housing market continues to crater and will soon reach a point where a depression is unavoidable… at which point the all too real stimulus to reboot the economy will be in the tens of trillions.

Overnight, China's National Bureau of (more…)

After its surprising bounce last month (on a seasonally-adjusted basis, because it crashed NSA), US Industrial Production was expected to decline 0.3% MoM in October. It was worse - down…