President Obama has raised more campaign finance from Wall Street than the total raised by the seven Republican candidates - click here. Even though Wall Street is disaffected with Obama (see previous post), it is still backing him. Why? The answer may be that he is Wall Street's puppet. After all, many of the policies implemented by the Obama administration have been favourable to (and even devised on) Wall Street. In addition, Obama has not sought retribution from Wall Street for the financial and economic mess they have created. Conclusion - Obama is Wall Street's man, and this means he is likely to be re-elected.
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.