On Wire

Breaking news, updates, and reports on current events.

A Sizable Earthquake Just Hit Los Angeles, And The Clock Is Ticking For The West Coast Of The United States

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by Michael Snyder Every time the west coast shakes, it is another reminder that a day of reckoning is fast approaching.  Someday time will run out and “the Big One” will finally strike, and the devastation will be far more immense than most people would dare to imagine.  Over the last 7 days, there have … Read more

[Forbes] Uber now faces making significant changes to business model in the U.K. and could set a precedent for gig economy workers around the world. If the court does agree that Uber is a transportation provider, the estimated figure for Uber’s VAT in the U.K. could be in “excess” of $1.3B per year.

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https://www.forbes.com/sites/daviddawkins/2020/07/30/uber-vs-london–the-courtroom-battle-the-world-is-watching/#38662ffd6973 Uber, the mobile ride-hailing giant responsible globally for over 1.9 billion “trips” a year is facing a summer showdown in two London courts as scrutiny mounts over licensing issues and the drivers’ classification as “workers.” Both cases have huge ramifications for Uber and could set a precedent for so-called “gig economy” workers around the … Read more

The next wave of protests.

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The next wave of protests. https://t.co/fHsZdwINPW — Sunchartist (@sunchartist) July 30, 2020 The Pandemic May Cause 40 Million Americans to Lose Their Homes Even as unemployment levels remain at historic highs and cases of the virus show no sign of abating, statewide eviction moratoriums in more than 30 states have now lifted and protections for … Read more

New York Fed’s Weekly Economic Index Points to an Annualized Fall in 2Q GDP of 40.2%

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by Aegidius25 The Commerce Department released its annualized figures for second quarter 2020 GDP today claiming that on this basis the economy shrank by a seasonally adjusted -32.9%. As reported by CNBC: “Sharp contractions in personal consumption, exports, inventories, investment and spending by state and local governments converged to bring down GDP, which is the … Read more

Its pretty clear Americans dont need more stimulus money. They have been blowing money on day trading and iphones/ipads! These numbers are nuts!

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https://twitter.com/RetirementRight/status/1288945572615864320 https://twitter.com/NorthmanTrader/status/1288950316864593920 OK, to whom sold Apple $AAPL 26 billion USD worth of iPhones during a 33% down GDP quarter? Answer: Bored people locked down at home seeing some nice ad on Facebook, surfing to Amazon getting overcome by the temptation to click BUY! The reckoning will come in Q3 and Q4 — Gregor Peter … Read more

Germany’s 10-year bond #yield has dropped to -0.545%, the lowest level since May. US 10Y yield 0.554%

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#Germany's 10-year bond #yield has dropped to -0.545%, the lowest level since May. pic.twitter.com/wlKc3PGOIY — jeroen blokland (@jsblokland) July 30, 2020 10Y yield 0.554% — zerohedge (@zerohedge) July 30, 2020 German GDP drops the most on record pic.twitter.com/dXrSGvdJl0 — zerohedge (@zerohedge) July 30, 2020 5Y yield new all time low of 0.2374% — zerohedge (@zerohedge) … Read more

The US dollar is the world’d reserve currency because there’s nowhere else to go? The Roman denarius was the reserve currency with no challenger, yet it collapsed on its own.

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The US dollar is the world'd reserve currency because there's nowhere else to go? The Roman denarius was the reserve currency with no challenger, yet it collapsed on its own. When fiat dies, safe assets and core essentials become the new currencies. — SolidusMax (@SolidusMax) July 30, 2020 Is the US Dollar Losing Its Clout … Read more

Titan Tech Thursday: Amazon, Google, Facebook, Apple and EA all smash Q2 expectations

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by bennzo1238 Amazon: Net Sales: $88.9B (exp $81.24B), EPS: $10.30 (exp $1.46) Google: Revenue Ex-TAC: $31.60B (exp $30.45B), EPS: $10.13 (exp $8.21) Facebook: Revenue: $18.69B (exp $17.31B), EPS: $1.80 (exp $1.39) Apple: Revenue: $59.69B (exp $52.30B), EPS: $2.58 (exp $2.07) EA: Revenue: $1.46B (exp $1.05), EPS: $1.25 ($0.78) https://twitter.com/NorthmanTrader/status/1288950316864593920    

Democrats Spent Tens of Millions to Destroy the Hopes and Dreams of These Qualified Black Candidates: Who’s down with BIPOC? Not the DSCC.

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Democrats spent more than $50 million this cycle to ensure that white candidates won the party’s Senate nomination in Kentucky, North Carolina, and Texas. Unfortunately, it came at the expense of the hopes and dreams of qualified black candidates attempting to bring more diversity to Congress. White candidates Amy McGrath in Kentucky, Cal Cunningham in North … Read more

FALLOUT: ‘We’re running out of homes for sale,’ Lake Tahoe brokers say as tech workers flee Bay Area.

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via CNBC: A new wave of urban flight is reshaping real estate markets from New York to Chicago and Los Angeles to San Francisco. As part of this shift, Lake Tahoe is seeing unprecedented bidding wars, buying activity and price increases. Brokers say the inventory of homes for sale has shrunk to about one-fifth to … Read more

It’s all theatre: Jim Jordan, the person who seems like he is fighting big tech, took campaign donations from Google

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Ever wonder why nothing is done? It’s all theatre. Even what seem to be the biggest advocates for ‘your side’ are in the pockets of those they put the image out of ‘fighting against’. Nothing has happened for 3 years and nothing will continue to happen, no matter who wins in November. Related: Gaetz slams … Read more