Independent thinking for complex markets and current events
SACRAMENTO COUNTY, Calif. — California police will soon be required to tell drivers why they’ve stopped them before they can start asking questions. The new bill, A.B. 2773, which takes effect Jan. 1, 2024, will also require all police agencies to track whether officers who stop drivers are complying with the law. During its meeting …
Overnight, Bitcoins got spanked. In the lower pane we see that Bitcoin became overbought at +20% above the 50 dma. Each time that has happened, it pulled back below the 50 dma, on average -10%. Which implies a -30% decline at minimum. pic.twitter.com/xNRCilkele — Mac10 (@SuburbanDrone) December 11, 2023
Following the warning from ex-Walmart CEO Bill Simon regarding the American consumer nearing a ‘breaking point,’ Target’s CEO, Brian Cornell, has also signaled a cutback in consumer spending, groceries included. This trend aligns with our view, as well as views from JPMorgan and Goldman, that consumers have hit a wall. On Thursday morning, Cornell spoke with CNBC’s Becky Quick on …
More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday. The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36% from the second quarter of 2022, according to …
AAA will not renew the auto and home insurance policies for some customers in Florida, joining a growing list of insurers dialing back their presence in the Sunshine State amid a growing risk of natural disasters. “Unfortunately, Florida’s insurance market has become challenging in recent years,” the company said in a statement emailed to CBS …
A property developer who has been operating in crime-ridden Portland for four decades says that he’s pulling out of the city because he has ‘nothing left in the tank’ after recently selling one property for nearly half its listed value. Kevin Howard, 75, told KATU in a recent interview that the property in question had …