June 3, 2020

The Auto-Appocolypse Could Shove the U.S. Economy off a Cliff

June 3, 2020 boss

Wells Fargo is stepping away from independent car dealers to distance itself from risky loans. The subprime auto loan market is looking increasingly dangerous. Without a speedy post-pandemic recovery, subprime auto loans are in danger of toppling the economy. This week, Wells Fargo confirmed that auto loans could be the catalyst that sends the U.S. economy into a death spiral. The bank announced that it would not be accepting new auto loan applications from most independent dealerships. The news underscored a growing issue bubbling beneath the surface of the U.S.…

Blockchain Underpinning Much of Germany’s Renewable Energy Evolution

June 3, 2020 boss

With Germany aiming to decommission all nuclear power generation in the country by 2022 and all coal-fired stations by 2038, myriad disparate renewable energy producers of various sizes are stepping up to meet demand. Distributed ledger technology is increasingly underpinning the architecture for many systems being designed by the country’s innovative renewable energy providers. Cointelegraph spoke to Richard Lohwasser, the co-founder and CEO of Lition Energie — a Berlin-based greentech startup that has launched a blockchain-based marketplace allowing consumers to choose between multiple energy providers — to discuss how DLT…

Experts Note Benefits of Security Tokens But Full Adoption Will Take Time

June 3, 2020 boss

As security tokenization efforts gain traction in digital finance, experts in the space told Cointelegraph how they view the future of this new asset class and the technology behind it. Nick Cowan, CEO of tokenization firm GSX Group, said that he is convinced “the financial world is moving toward the new digital era.” Cowan argued that with traditional securities it takes several days for a trade to settle, and that the infrastructure to sustain such settlements “means the markets are packed with intermediaries, bloated with costs, while locking up users’…

Iran Needs to Take Bitcoin Seriously, Says Lawmaker

June 3, 2020 boss

An Iranian lawmaker is advising the government to actively control the development of the local Bitcoin (BTC) and crypto industry. Bitcoin Could be Beneficial for Iran According to Tasnim News Agency, Mohammad Hossein Farhangi, a member of Iran’s Parliament says the country’s government needs to move forward with developing its emerging crypto market. Speaking on Tuesday, June 4, 2020, Farhangi remarked: “Take the issue of bitcoin seriously, because if it can be managed, it can be a good opportunity for the country, otherwise it will become a matter for financial…

Corporate Bankruptcies Will Top 2008 as Distressed Debt Soars Over Half a Trillion

June 3, 2020 boss

Nearly 100 major corporations have filed for bankruptcy. More companies are under significant financial pressure as debt soars to over $500 billion. Expect more bankruptcies in the coming months as the U.S. economy struggles to reopen. Nearly 100 major corporations have filed for bankruptcy this year. That’s happening even amid the multi-trillion-dollar government bailout and the Federal Reserve activating its money-printing machine in full force. Expect more big business names to go under in the coming months as companies struggle to pay their debts. The Pandemic Pushed Many Struggling Companies…

Jinxed it? Indicator Bets Bitcoin Won’t Fall Below $10K After August

June 3, 2020 boss

Bitcoin (BTC) will never cost less than $10,000 again after August this year — according to a price indicator gaining popularity among investors. In a tweet on June 2, Timothy Peterson of asset manager Cane Island Alternative Advisors drew attention to a watershed moment for the largest cryptocurrency. Lowest Price Forward dictates $10K BTC floor According to Lowest Price Forward (LPF), in just two months’ time, Bitcoin will see $10,000 per coin for the last time ever. LPF, which was previously known as the “never look back price,” makes price…

Dr. Phil Weighed in on Black Lives Matter – And Boy, Was It Problematic

June 3, 2020 boss

Dr. Phil is problematic, to say the least. He’s a charlatan who has often proven to be unhelpful to the “patients’ he trots out on national television. But it’s his problematic race relations that make him extra-special in the garbage bin of daytime television. Dr. Phil is trash – even by the standards of daytime television. We’ve discussed this in detail quite a few times. And we’re not the only ones. But he’s an extra-special type of trash when he’s trying to navigate the world of race relations. Dr. Phil…

Kate Middleton Lackeys Are Going to Absurd Lengths to Scapegoat Meghan Markle

June 3, 2020 boss

Kate Middleton’s camp continues its campaign against Meghan Markle. This time, her anonymous defenders are blaming the Duchess of Sussex for the disastrous “Tatler” story. When is this ridiculous scapegoating going to end? Kate Middleton’s lackeys are at it again. The Duchess of Fragility’s supporters have once again decided to scapegoat Meghan Markle, this time laying the blame at her feet for Middleton’s disastrous “Tatler” cover story. Never has so much been made about so little. And blaming Markle for a British magazine’s cover story is the height of absurdity.…