IWB
Credit Suisse Client’s losses climb to 607 million in fraud scheme — (So far)
(Bloomberg) — Bidzina Ivanishvili, the Georgian billionaire suing a unit of Credit Suisse Group AG over a fraud scheme run by one of its ex-bankers, lost about $607 million in the case, according to a new estimate of his losses …
Barack and Michelle Obama’s Amazon Audible deal is worth $20MILLION and will feature them in eight episodes each, experts say – after they ditched Spotify amid fallout over exclusivity and how often they had to appear in shows
Barack and Michelle Obama have signed a $20M podcast deal with Audible The couple will need to contribute two shows with an estimated appearance cap of eight episodes each, industry experts allege The Amazon-owned company will hold exclusive rights to their …
UK inflation at 9.1% and probably 16% realistically
by SilverBoatSurfer Source: https://m.economictimes.com/news/international/world-news/uk-inflation-hits-new-40-year-high-of-9-1-in-may/articleshow/92381847.cms
Sri Lanka PM says economy ‘has collapsed,’ unable to buy oil
https://abcnews.go.com/International/wireStory/sri-lanka-pm-economy-collapsed-unable-buy-oil-85551129 Sri Lanka’s debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, its prime minister told lawmakers Wednesday, in comments underscoring the country’s dire situation as it seeks help from international lenders. Prime Minister Ranil Wickremesinghe …
DeFi : Straight out of the horse’s mouths. A review of an Interagency Report on Stablecoins, and the control they want to have over DeFi – while conflating with CeFi.
by laflammaster I stumbled upon some fun stuff – a report from the US Treasury dept on stablecoins. Document link: Interagency Report on Stablecoins Forward reading – and why you should avoid CBDC: CBDC (Central Bank Digital Currency) TL;DR; Start The …
Ban on cotton from China using forced Uyghur labor takes effect
The fashion industry has been told it must wean itself off cotton from China’s Xinjiang region, as a new law comes into force giving US border authorities greater powers to block or seize goods linked to forced labour in China. …
Powell Throws Biden Under The Bus: ‘Inflation Was High Before Ukraine’
https://twitter.com/WallStreetSilv/status/1539718474494349312 NOW – Biden's energy secretary says "the only way out… is diversifying our fuel sources by deploying clean energy."pic.twitter.com/KTNziYZbRZ — Disclose.tv (@disclosetv) June 22, 2022 https://twitter.com/Breaking911/status/1539721142604283908 Biden Gas Plan Will Worsen Inflation
Germans Laughed At Trump About Russian Energy
"Germany will become totally dependent on Russian energy if it does not immediately change course," Pres. Trump says at #UNGA, prompting smirks from German officials in gallery at UN https://t.co/sO3ceJeAGG pic.twitter.com/Akf5tVBwwi — CBS Evening News (@CBSEveningNews) September 25, 2018 https://twitchy.com/gregp-3534/2022/06/21/this-aged-quite-badly-trump-warned-germany-of-becoming-totally-dependent-on-russian-energy-at-the-un-in-2018-whos-laughing-now/
Ramping credit card debt + rising interest rates = trouble for many, many borrowers who are already struggling with their bills.
Ramping credit card debt + rising interest rates = trouble for many, many borrowers who are already struggling with their bills. pic.twitter.com/wIVtxSDhw9 — Markets & Mayhem (@Mayhem4Markets) June 22, 2022 Fed Powell facing criticism for inflation missteps… WASHINGTON (AP) — …
This smells like 2008… Bulls, you’ve become far too complacent in the face of collapsed performance.
Demand for adjustable-rate mortgages surges, as interest rates make biggest jump in 13 years Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the …
Ray Dalio: Reducing inflation will come at a great cost
by Ray Dalio on Linked-in: Markets and economic movements are driven by much simpler and more commonsense linkages than most people articulate. I tried to describe the most important of these in my 30-minute animated video “How the Economic Machine …
BlackRock challenges SEC on climate change bullshit…
The agency’s approach threatens to increase compliance costs for firms and may unintentionally make it harder for investors to discern information that’s significant to a company’s bottom line, BlackRock said in a letter to SEC. The firm, among the leading …
Justin Trudeau bans grocery bags, plastic straws…
Canada is banning the manufacture and importation of single-use plastics by the end of the year, the government announced on Monday, in a major effort to combat plastic waste and address climate change. The ban includes checkout bags, cutlery, straws …
Food Banks beg for help…
Ohio’s food banks are struggling to keep shelves stocked amid rising costs and supply-chain disruptions. But those same issues are pushing even more people to turn to them for help. Why it matters: More than 1.5 million Ohioans — one in …
Household savings rate vanishes…
The United States consumption figure seems robust. An 0.9 percent rise in personal spending in April looks good on paper, especially considering the challenges that the economy faces. This apparently strong figure is supporting an average consensus estimate for the second-quarter …
Wisconsin governor is pissed…
The Assembly has also gaveled in/out. Republicans inaction means if Roe is overturned, nearly all abortions will become illegal in Wisconsin. https://t.co/mkbM2PT7Yx pic.twitter.com/S6FaHW8DcI — Emilee Fannon (@Emilee_Fannon) June 22, 2022 The people of Wisconsin support access to abortion! Our legislators …
Biden Unveils His Surprisingly Stupid Plan To “Fight Inflation”
President Biden’s hands-off approach to fighting the highest inflation in four decades poses major risks to the economy and his political fortunes. Biden made clear earlier this month he will do nothing to push the Federal Reserve away from increasing …
Want an Investment-Related Career?
Are you attracted to the idea of investing as a career path? Many college graduates enter the field every year because of the variety, excellent pay, and personal satisfaction that comes with learning to invest wisely and well. Some professionals …
Disaster In The Heartland: Wheat Crops In Kansas Are Failing On A Massive Scale
by Michael Did you know that Kansas is known as “the Wheat State”? In 2021, it produced nearly one-fourth of all wheat that was harvested in the United States. Needless to say, we really need Kansas to come up big …
EU Countries Preparing More Sanctions for Russia and Belarus, More Military Support for the Ukraine
by Chris Black These sanctions against Russia are all self-inflicted wounds, and at this point, there isn’t any debate about the issue. The whole point of the sanctions was to try to collapse Russia’s economy by devaluing their currency, and …
Anti-Trumper Rams Car Into Shop Selling Trump Merchandise
by Chris Black Imagine being a 46-year-old man and having the emotional development of a 9-year-old girl. These are the people oppressing you: men with tits.
Clown World Economy
by Chris Black Layoffs, bankruptcy, and recessions are now bullish indicators because it means The Fed must set the printers on ludicrous speed. As we saw with AMC, Hertz, and GameStop, not having a valid business plan and losses as …
I’m Struggling to Imagine a Culture Which Sucks More Than This
by Chris Black On one hand you have the beautiful Greek revival Gallier Hall. A modern reminder of the intelligence and culture the Greeks gifted upon humanity, still relevant and awe inspiring millennia later. And on the other hand, you …
The Fed’s Rate Increases: Too Little Too Late?
by Ron Paul of Ron Paul Institute for Peace and Prosperity The Federal Reserve’s recent 0.75 percent increase in its “benchmark” interest rate is the Fed’s highest rate increase since 1994. This increase is a sign that the Fed has finally realized that …
‘The Golden Age of travel is over’
Just imagine a world in which, almost overnight, the transport system breaks down. Flights across the world are cancelled, leaving thousands of travellers stranded far from home. Airports are crowded with mobs of angry, frightened people. Even greater throngs descend …
Half the Internet (Briefly) Died While You Were Sleeping
A widespread outage that affected many websites has apparently been resolved. The Independent newspaper reported that the issue appeared to be the result of problems at Cloudflare, the internet infrastructure provider powering much of the web. People trying to view …
The Great Biden Recession Is Already Here
Last week, I was invited to testify before a House committee hearing titled: “How the Biden American Rescue Plan Saved the Economy and Lives.” I am not making this up. Can you imagine taking a victory lap, given our current …
