Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
Jim Cramer had his prophetic TV meltdown exactly 10 years ago today — and debt levels are back now in the same place. US corporate debt may be so high that it’s a threat to global stability, and Europe’s banks are threadbare, according to the IMF. On a net level, Italy, Portugal, and Spain have actually added non-performing loans to their books rather than worked them off.
Here’s a recap on how Anthony Scaramucci rose to the top of Wall Street, sold his company, tanked his marriage, and traded it all for 10 wild days in the White House. And here’s BI’s Linette Lopez on Scaramucci’s rise, fall, rebound, and spectacular flameout.
We visited Amazon’s jobs fair at a warehouse in New Jersey, where people lined up around the block hoping to score a job. But those throngs of applicants are sending a troubling signal about the job market, writes Business Insider’s Pedro da Costa.
There are four companies that look Amazon-proof. Tesla’s surging stock is crushing shortsellers. Elon Musk says people are cancelling Tesla Model 3 orders because it’s like ‘an hour-and-a-half wait for hamburgers.’
- It’s about to get a lot easier to bet on the backbone of the stock market
- ALBERT EDWARDS: The same problems that created the financial crisis are back