On Wire

Breaking news, updates, and reports on current events.

Inflation peak temporarily?

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Meanwhile Twitter is yelling recession… inflation doesn’t collapse when unemployment remains low. Temporary peaks happen. pic.twitter.com/R7uGiTQ0ac — Alessio (@AlessioTMAD) December 2, 2022 https://twitter.com/WallStreetSilv/status/1598768975499825152 US benchmark coal index New record high… pic.twitter.com/7Stmy9J6KQ — Alessio (@AlessioTMAD) December 2, 2022 You can watch by yourself.. This ETF replicates inflation expectations in Europe.. hasn’t moved from the highs. Controlled … Read more

World Bank Chief is worried about a disorderly default process… the world’s largest institutional landlord – is telling investors it has a massive liquidity problem… M2 declines

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World Bank Chief says he is worried about a disorderly default process. He is right pic.twitter.com/YzGkZ7gADe — Alessio (@AlessioTMAD) December 2, 2022 this is very big – Blackstone, the world's largest institutional landlord – is telling investors it has a massive liquidity problem pic.twitter.com/EvOF0mFNGh — Daniela Gabor (@DanielaGabor) December 1, 2022 M2 is mostly a … Read more

Disney Proposal to Restructure, on McKinsey’s Advice, Triggered Uproar From Creative Executives

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Full Press Release: https://www.wsj.com/articles/disney-proposal-to-restructure-on-mckinseys-advice-triggered-uproar-from-creative-executives-11669928586?utm_source=reddit.com ​ LOS ANGELES—Walt Disney Co. was working with consulting firm McKinsey & Co. in recent months on an effort to centralize control of major spending decisions, triggering an uproar from top creative executives at the entertainment giant, according to people familiar with the matter. Discussions regarding the plan were under way in … Read more

JPMORGAN, BOFA AND CITI SLASH BANKER BONUSES

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https://t.co/xy6epOOC85 — *Walter Bloomberg (@DeItaone) December 2, 2022 The S&P is falling away perfectly again. Powell set the trap brilliantly right at the end. Wonder how much BlackRock speaking fees that bought him down the road. Next week is going to be wild. pic.twitter.com/L5GLutVOSA — Financelot (@FinanceLancelot) December 2, 2022

GOOGLE TO INTRODUCE BEHAVIORAL “INTERVENTIONS”

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The next dystopian idea, including proposals such as “pre-bunking.” Google has presented its project dubbed “Info Interventions” based on what it says is a behavioral science that, if these “interventions” are used as directed, could “teach” users to the degree they will become resilient to online harms. Another promise is that by “pre-bunking misinformation” users … Read more

New york mayor – involuntary remove the mentally ill from the streets

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New York City Mayor Eric Adams (D) unveiled a new program this week to expand how and why the mentally ill can be removed from the city’s streets and hospitalized as the city grapples with high levels of homelessness, which some critics claim goes too far. https://www.forbes.com/sites/brianbushard/2022/11/30/heres-why-nyc-mayor-adams-plan-to-remove-mentally-ill-homeless-people-from-streets-is-controversial/?sh=230d7e937783

Switzerland plans to BAN ELECTRIC CARS during power shortages in a bid to reduce consumption, GO WHERE AND WHEN WANT , WAIT WHAT??

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Switzerland plans to BAN electric cars from the roads and order games consoles turned off during power shortages in a bid to reduce energy consumption Swiss have drawn up emergency plans to deal with energy shortages this winter In emergency situation, electric vehicles will be banned for all-but essential trips ‘Crisis’ restrictions could see all … Read more

Fintechs Made “Massive Profits” on PPP Loans and Sometimes Engaged in Fraud, House Committee Report Finds (it was called the “scamdemic” for a reason)

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  Financial technology firms at the front lines of approving loans through the Paycheck Protection Program — intended to help small businesses survive during the pandemic — lacked fraud controls, chased high fees to the detriment of some borrowers and sometimes exploited their business relationships to arrange suspect loans for the companies’ own executives. One … Read more

“Strongest economic recovery ever!” per our most erudite White House spokeswoman

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Small businesses are getting squeezed very hard as prices of goods come down and earnings fall and expansion slows Also Many of them have excess inventory to work through, reversing the huge boom last year via stockpiling General Biz outlook has plunged to multi-decade lows👇🏻 pic.twitter.com/ErmY89fmdC — Adem Tumerkan (@RadicalAdem) December 2, 2022

Justices keep student loan cancellation blocked for now (sorry, deadbeat special snowflakes, but looks like you need to cover your OWN financial obligations – but Brandon thanks you for your vote!)

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The Supreme Court on Thursday said it would keep the block on President Biden’s $400 billion student loan forgiveness program until it takes up the case in February. The court’s decision to hear arguments relatively quickly means it is likely to determine whether the widespread loan cancellations are legal by late June. That’s about two … Read more

The Pentagon can’t account for 61% of its $3.5trillion in assets.

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Source:https://t.co/x8v5uCXzsA pic.twitter.com/pfxAcUsiah — Nancy Pelosi Stock Tracker ♟ (@pelositracker) December 2, 2022 The Defense Department has failed its fifth-ever audit, unable to account for more than half of its assets, but the effort is being viewed as a “teachable moment,” according to its chief financial officer. After 1,600 auditors combed through DOD’s $3.5 trillion in … Read more