Goldman Sachs posted a third quarter loss today - click here. Yet more doom and gloom for Wall Street. After receiving large bailouts from the Obama administration, it seems that Wall Street are turning against Obama. According to this article published in Slate, the explanation for this is simple: Wall Street blames Obama for the country's ongoing economic woes.
According to Robert Shiller , speaking at Davos, Bitcoin is a perfect example of a bubble - story here . Shiller sees Bitcoin as a backwards step in the evolution of money. George Selgin , a free banker, takes an opposing view - click here . Although he doesn't believe that Bitcoin is money, he sees its development as a fascinating turn in the evolution of money. In particular, he lauds the fact that Bitcoin production is constrained and cannot be infinite. There is a short video below where Bitcoin explain how it works.