Our
lead story: JP Morgan Chase, the largest bank in the US by assets is
reducing its headcount for 2014. The bank announced the changes, saying
that creating a business model that can deal with new regulation is
cutting into the firm’s profits. JP Morgan said it expects its total
headcount to fall by 5,000 to 260,000 people. But JP Morgan is confident
that it can win in this new environment… by replacing humans with
machines. Erin explains.Then we welcome Chris Martenson of Peakprosperity.com
to give his thoughts on the Federal Reserve and the weak fundamentals
of the US economy. In the first segment, Martenson discusses the effect
of the huge flood of liquidity created by the Fed on the market. He also
explains why bond prices can go up as a result of the Fed’s
quantitative easing. After the break, Martenson describes why
quantitative easing has helped equity prices but hasn’t helped the
underlying economy. He also talks about what is happening with inflation
in the economy.For today’s Big Deal, Erin
chats with Ed Harrison about Mt. Gox and the future of Bitcoin. On
Monday Mt. Gox abruptly stopped trading and shut down its website. An
unconfirmed document circulating the internet suggests that Mt. Gox has
lost upwards of 744,000 Bitcoins as a result of theft. Erin asks what
happened and if Bitcoin will survive.
Also check us out on Facebook — and feel free to ask us questions:
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