Send us a textJohn Keely was the founder of the Keely Motor Company. He announced that he had discovered a new physical force, one that, if harnessed, would produce unheard-of power. He claimed to be able to produce from a quart of water enough fuel to move a 30-car train from Philadelphia to New York City.Scientists and engineers scoffed at his unverified claims. After his death, an investigation was carried out, and examination of his apparatus - a supposed perpetual motion machine - showed...

Send us a textIn China, a major financial crisis is unfolding. A few months ago, four rural lenders in the northern province of Henan froze the deposits of hundreds of thousands of customers and Chinese citizens in 86 cities are boycotting mortgage payments towards their homes. Confidence in the financial sector has plunged. In this video we look at the story behind the bank scandals.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Flo...

Send us a textThe United States and China appear to have reached a landmark deal that would allow Chinese companies to remain listed on US exchanges, halting the threatened delisting of about 200 stocks that trade in New York.The announcement by US and Chinese regulators is a breakthrough after a prolonged standstill. Beijing has not allowed foreign regulators to inspect Chinese company audits, citing a desire to protect state secrets. US law requires Chinese companies to leave American stock...

Send us a textThe first global financial crisis erupted in the autumn of 1987 on a day known as “Black Monday.” A chain reaction of market distress sent stock exchanges around the world plummeting in a matter of hours. In the United States, the Dow Jones Industrial Average dropped 22.6 percent in a single trading session, a loss that remains the largest one-day stock market decline in history. At the time, it marked the sharpest market downturn in the United States since the Great Depre...

Send us a textRising energy prices could push UK inflation as high as 18% next year according to Citi. European gas prices rose sharply this week due to supply fears, after Gazprom Russia’s energy firm announced it would shut down the Nord Stream 1 pipeline - the main gas supply line to Europe - to complete three days of unplanned maintenance.Right now, Britain and the EU are in the middle of a cost-of-living crisis driven by energy inflation. What can be done to prevent this from happening a...

Send us a textThis Tuesday Joe Biden signed into law a sweeping tax, healthcare, and climate bill, called the Inflation Reduction Act, a significantly pared back version of the “Build Back Better Plan” which he was pushing for last year.Fans of the new law claim that it will improve citizens’ finances while reducing the federal deficit and critics say it will lead to higher taxes for individuals and corporations, and that it will be ineffective at dampening inflation. Let’s look at the new le...

Send us a textThis week, let's talk about Cathie Wood and The Ark Invest Disruptive Innovation Fund to see if there is anything we can learn from the rise and fall of ARKK? What mistakes do investors make when selecting funds to invest in.Jack Schwager - Market Sense & Nonsense: https://amzn.to/3SKBRgt Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to...

Send us a textIn late June, Sri Lanka’s prime minister Ranil Wickremesinghe announced that the country’s economy had “collapsed.” There was no money left to pay for imports of necessities like food, fuel and medicine, and the country was seeking help from neighboring countries and the IMF.Sri Lanka is going through its worst economic crisis since it gained independence from Britain almost 75 years ago. In today's video we ask the question, "What Killed Sri Lanka's Economy?"Patrick's Books:Sta...

Send us a textIn 2013 President Xi Jinping announced the launch of his signature policy, the Belt and Road Initiative, the largest transnational infrastructure program ever undertaken by a single country. Today though, many of the loans financing these huge infrastructure projects are going bad and going bad in record numbers. Today's video looks at the Belt and Road Initiative, how the projects are going and how recent events like Russia's invasion of Ukraine are affecting debtor natio...

Send us a textThis Tuesday, Twitter’s sued Elon Musk to force him to honor his legally binding agreement to buy the company. Twitter asked the Delaware Court of Chancery to fast-track a trial for September. According to the complaint “Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”The Delaware court will examine the case on its merits...