Independent thinking for complex markets and current events
Agents from Elon Musk’s Department of Government Efficiency are accused of breaking into the nonprofit US Institute of Peace on Monday night as it continues to take a chainsaw to waste, fraud and abuse in Washington. The organization’s CEO, George Moose, said, ‘DOGE has broken into our building’ after having been turned away on Friday. …
Earlier this week, the Departments of Health and Human Services (HHS), Education (DoED) and the U.S. General Services Administration (GSA) announced the initiation of a “comprehensive review” of more than $5 billion in federal grant money that goes to Columbia, “in light of ongoing investigations for potential violations of Title VI of the Civil Rights …
by Mike Shedlock Amazon says no to UPS. Costs are too high. Union Reality Bites The Wall Street Journal comments Reality Bites UPS and the Teamsters Two years ago Teamsters boss Sean O’Brien touted a “historic” labor agreement with United Parcel Service. Now comes the rest of the story, and it isn’t pretty. UPS shares plunged …
President Milei is a Rockstar. pic.twitter.com/bnPABtuANQ — I Love America News (@ILA_NewsX) December 27, 2024
A sick newly proposed age of consent law would allow old men in Iraq to marry children as young as nine years old, and “legalise child rape” activists claim. Ultra-conservative Shia Muslim parties have launched a bid to pass a new law that would slash the existing age of consent in the pariah nation in …
by confoundedinterest17 If this isn’t election interference, I don’t know what is. The Fed today slashed interest rates by the biggest amount in 16 YEARS, a whopping 50 basis points from 5.50% to 5.00%. With the economy roaring along (thanks to Covid-related massive Federal spending), there was no good reason to slash rates. Other than …
HAVANA (Reuters) – Cuba’s communist-run government on Monday slashed by a quarter the weight of its subsidized ration of daily bread, the latest shortage to strain a decades-old subsidies scheme created by the late Fidel Castro. The bread, one of a handful of still subsidized basic food products in Cuba, will be reduced from 80 …
Job openings are collapsing; the Bloomberg, Citi, and GS economic surprises indices are all below zero; and the Atlanta Fed GDPNow model has cut its Q2 GDP growth estimate from over 4% in mid-May to 1.8% now (and only 1.3% if you exclude inventories). Frosty! pic.twitter.com/USTdO1oQIc — Peter Berezin (@PeterBerezinBCA) June 5, 2024
EV maker slashes prices as it tries to avoid bankruptcy. California-based electric vehicle startup Fisker slashed the prices of some of its vehicles as it fights to avoid bankruptcy after a potential deal with another automaker fell through. The manufacturer’s suggested retail price for the 2023 Ocean electric SUV lineup in the U.S., which is …
Canada Goose is shrinking its white collar headcount. The high-end outerwear company on Tuesday revealed that about 17% of its corporate workers would lose their jobs in the cuts. It amounts to approximately 915 jobs. The layoffs coincided with Canada Goose restructuring aspects of its management team. That included giving additional responsibilities to Chief Transformation …
The Federal Reserve has significantly reduced its balance sheet. Some analysts predict a market downturn due to the decrease in liquidity, which has been exacerbated by 11 interest rate hikes that typically take 18 months for the market to digest. h/t theSilverVigilante
Didn’t they just get flooding? Glass is overflowing yet they cutting the water to the farmers? At this point we have to believe that the inadequacy of water storage in California is intentional since the current administration has had ample time to secure our water supply. — Monica Rohrer (@mlrohrer) February 22, 2024 Mariana Mazzucato …
Seattle introduced a mandatory $5 fee on delivery apps to cover their driver’s living wage and sales were almost cut in half. Now the drivers can’t make rent. pic.twitter.com/gOZmX1vvwX — Chef Andrew Gruel (@ChefGruel) February 5, 2024
(Bloomberg) — The International Monetary Fund revised down its growth estimate for Argentina, forecasting South America’s second-largest economy will shrink for two consecutive years as President Javier Milei pushes for a “significant policy adjustment.” https://finance.yahoo.com/news/imf-sharply-cuts-argentina-growth-130000884.html?fr=yhssrp_catchall But after less than two months at the helm of Latin America’s third-largest economy, the self-described anarcho-capitalist is already facing …
It’s the house that aggregation built. Matt Drudge, the fedora-wearing conservative publisher who runs the popular link farm website Drudge Report, put his Miami residence on the market last October for $2,999,000. However, the asking price is now $2,499,500. The 6,695-square-foot home was built in 1976, and comes with five bedroom and five bathrooms, as …
Deutsche Bank (DB) has dealt a significant blow to Germany’s economic outlook, reducing its 2024 GDP forecast by a substantial 0.5 percentage points to -0.2%. The revision follows a budget crisis triggered by a Constitutional Court hearing, pointing to low growth exacerbated by challenges within the German legal system. DB’s explanation for the downward adjustment …
https://www.youtube.com/watch?v=910zvXDibuE The oil market has taken yet another hit this month as Saudi Arabia deepened oil production cuts to gain further control of prices at a time U.S. officials are failing to boost the domestic Strategic Petroleum Reserve, and supplies are rapidly dwindling. The shock caused by lower global oil output is threatening to undermine …