Philly Fed ‘Hope’ Hammered As Inflation Expectations Soar
Philly Fed ‘Hope’ Hammered As Inflation Expectations Soar After a few strong months of hope-filled renaissance, the Philly Fed business outlook plunged in June with both the current and forward-looking activity indicators dropping significantly (but the Philly Fed notes optimistically, remaining positive)… Source: Bloomberg Under the hood, it was even uglier, with new orders recording […]
No Tax On Tips
No Tax On Tips Authored by Charles Lipson via RealClearPolitics, Donald Trump is a master showman and marketer. He demonstrated those skills once again with his proposal to kill the tax on tips. It’s more than shrewd. It’s brilliant. After the hoorays from waiters and other service workers died down, political analysts weighed in. Their […]
Boeing 737 Makes Emergency Landing In India After Engine Fire
Boeing 737 Makes Emergency Landing In India After Engine Fire Malaysia Airlines confirmed to local media outlet Malay Mail that a Boeing 737-800 was forced to make an emergency landing shortly after takeoff due to an engine malfunction. The mid-air incident comes only days after outgoing CEO Dave Calhoun testified on Capitol Hill about ongoing investigations into the […]
TikTok Bans Women’s Rights Ads For Being “Offensive”
TikTok Bans Women’s Rights Ads For Being “Offensive” Authored by Steve Watson via Modernity.news, A clothing brand that stands for women’s rights in sports has had its ads permanently banned from TikTok with the platform stating that the content “may be offensive.” XX-XY Athletics, which specifically advocates for biological females only in women’s sports and […]
Ukraine Drone Strikes Score Direct Hits On Two More Russian Oil Depots
Ukraine Drone Strikes Score Direct Hits On Two More Russian Oil Depots An overnight Ukrainian cross-border drone attack impact several regions of Russia, resulting in the death of a civilian woman in the Krasnodar region, and setting several oil depots ablaze in other areas. A Russian defense ministry statement Thursday described “terrorist attacks” which involved groups […]
A Most Dangerous Assumption: Mining The Future To Spend More Today
A Most Dangerous Assumption: Mining The Future To Spend More Today Authored by Charles Hugh Smith via OfTwoMinds blog, What the cheerleaders are actually claiming is the process of adding zeroes to “money” is limitless, but there are limits on the utility of devaluing currency, too. How prosperous would the world be if we hadn’t […]
WTI Extends Gains After Surprise Crude Inventory Draw; Pump-Prices Set To Soar
WTI Extends Gains After Surprise Crude Inventory Draw; Pump-Prices Set To Soar Oil prices continue to extend their gains as “price-supportive rhetoric” from OPEC and its allies forced algorithmic traders to switch from short to long as oil prices have tracked financial assets higher in recent weeks. “Today we are waiting for the inventory data,” […]
CBO Report: U.S. National Debt to Exceed $56 Trillion by 2034
A Congressional Budget Office report projects that the U.S. national debt will exceed $56 trillion by 2034, up from just under $35 trillion currently. The growing debt is fueled by higher spending than tax revenues, with a $1.9 trillion deficit expected in 2024. Key contributors to the rising deficit include student loan debt cancellation, aid […]
Ex-OpenAI Chief Scientist Launches SSI To Focus On AI ‘Safety’
Ex-OpenAI Chief Scientist Launches SSI To Focus On AI ‘Safety’ Authored by Derek Andersen via CoinTelegraph.com, Co-founder and former chief scientist of OpenAI, Ilya Sutskever, and former OpenAI engineer Daniel Levy have joined forces with Daniel Gross, an investor and former partner in startup accelerator Y Combinator, to create Safe Superintelligence, Inc. (SSI). The new […]
Goldman Sachs Recommends Gold to Mitigate Inflation Risk from U.S. Elections
Goldman Sachs strategists suggest that gold can hedge against inflation risks linked to a Republican sweep in upcoming U.S. elections, citing potential higher import tariffs, reduced immigration, tighter Iranian oil sanctions, lower taxes, and possible influences on Fed policy. A Democratic sweep could also pose risks due to potential significant corporate tax increases.