Fed to ban policymakers from owning individual stocks, restrict trading following controversy

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The Federal Reserve announced sweeping new rules for its top officials Thursday, banning trading in individual stocks and bonds. Those new rules come on the heels of a swelling ethics controversy over whether central bank officials should be able to trade while their policies can, and often do, move markets. Officials will be restricted primarily … Read more

The Fed is effectively “fighting the last war,” BofA global economist Ethan Harris said…. The next recession could come courtesy of the Fed

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Federal Reserve officials could be placing too much emphasis on the past when trying to guide the U.S. economy into the future, according to a Bank of America analysis. https://www.cnbc.com/2021/10/21/bank-of-america-says-the-fed-is-playing-with-fire-by-downplaying-inflation-and-needs-a-new-playbook.html Central bankers are in a precarious spot in this chaotic pandemic economy. U.S. and U.K. consumers are grousing about rising prices and want some relief. … Read more

Shares in China’s Evergrande plunge as deal collapses

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Shares of China Evergrande Group, the world’s second-largest economy’s most indebted property developer, have plunged as much as 14 percent when they resumed trading on the Hong Kong Stock Exchange following a two-week suspension. Thursday’s opening bell sell-off came after Evergrande announced that a deal to sell a $2.6bn stake in its property services unit … Read more

GAS HITS $7.59 IN CA TOWN

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GORDA, Calif. (KABC) — Gas keeps getting more and more expensive, especially in California. But perhaps nowhere is it pricier than the remote central coast community of Gorda. The town’s only gas station is offering regular unleaded for $7.59. Premium is nearly $8.50. https://abc7.com/highest-gas-prices-in-the-country-gorda-ca-california-price-of/11149187/

Biden has recently said taxes will go up. But though Biden speaks a big game on tax, politicians (including Pelosi, Biden, and McConnell) have only voted one way on taxes: to lower them for the top 1%.

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Biden has recently said taxes will go up. But though Biden speaks a big game on tax, politicians (including Pelosi, Biden, and McConnell) have only voted one way on taxes: to lower them for the top 1%. Don’t believe me? Here’s the history: https://t.co/n08tAeXBqO pic.twitter.com/RkqmHV5xvd — unusual_whales (@unusual_whales) October 21, 2021 What isn't bad is … Read more

so far into Q3 earnings, stocks that missed profit estimates lagged the S&P 500 by 4.4% the next day — the worst reaction since 2017

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so far into Q3 earnings, stocks that missed profit estimates lagged the S&P 500 by 4.4% the next day — the worst reaction since 2017 great stat from @lena_popina pic.twitter.com/mz6mNeVIyQ — Katie Greifeld (@kgreifeld) October 21, 2021 What does this chart tell you ? pic.twitter.com/9XRJnobulI — MrTopStep (@MrTopStep) October 21, 2021

National Institute of Health admits it funded gain of function research with tax payer dollars.

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View post on imgur.com Yet once again, The conspiracy theorists were right, The NIH who previously claimed they did NOT do “gain-of-function” research….. …..Did in fact do “gain-of-function” research. I think the score is like 62,454 to 8 now….. “I told you so” doesn’t even begin to cover it here: https://t.co/9JFn85I24i — Rand Paul (@RandPaul) … Read more

Amazon driver dressed in drag to take photos of girls as young as 8, police say

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A 23-year-old Amazon driver took illicit photos of girls as young as 8, including through a bedroom window and in the women’s bathroom at a Massachusetts department store while dressed in drag, according to police. Jacob Guerrero was initially busted by cops in Massachusetts last month for allegedly using a pen camera attached to his … Read more

Shipping Costs Surge: $17,000 to Ship Container to California from Asia, Up from $3,800 in 2020

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When Donald Trump was president in 2020, the price to ship a container from Asia to California was $3,800. That price spiked to $17,000 in October of 2021, according to supply chain technology company Freightos. Freightos also revealed that shipping to the east coast is more expensive than the west coast, with rates reaching $20,000.. … Read more

WATCH: Marine Corps vet disarms gun-wielding robbery suspect at Arizona gas station

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A U.S. Marine Corps veteran in Arizona was caught on video single-handedly disarming a gun-wielding juvenile who was attempting to rob a gas station on Wednesday.. ..When responding deputies asked the customer how he was able to take control of the dangerous situation, he stated: “The Marine Corps taught me not to [mess] around.” The … Read more

Superman colorist quits over comic’s embrace of wokness: ‘Tired of this s***’

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A colorist involved in creating the Superman comic says he is quitting his position in response to the “wokeness” that has permeated the franchise.  “I’m finishing out my contract with DC. I’m tired of this s***, I’m tired of them ruining these characters; they don’t have a right to do this,” Superman: Son of Kal-El … Read more

Evergrande crisis: clock ticking as crucial debt default deadline looms. A default by the property giant could have far-reaching consequences for China and global economy

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The rescue of embattled Chinese property company Evergrande appears to have stalled, leaving the developer on the brink of default and threatening to unleash contagion through the country’s giant real estate sector, home prices and the economy. The problems enveloping Evergrande, which has eyewatering total debts of $305bn, have hung over global financial markets in … Read more

Chinese real estate developers have used off-balance-sheet vehicles to borrow money. Nearly every developer has borrowings in disguise.

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by KoreanBoyscout https://www.reuters.com/world/china/what-lies-beneath-hidden-debt-fears-feed-chinas-property-woes-2021-10-20/ “Nearly every developer has borrowings in disguise. The sector’s debt problem is worse than what you see,” said He Siwei, attorney at Hui Ye Law Firm. Chinese developers owed 33.5 trillion yuan ($5.24 trillion)through various channels at the end of June, Nomura estimates, based on official statistics, adding “there are definitely other … Read more

Florida Ports are Open for Business

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by Martin Armstrong Florida’s Governor Ron DeSantis proudly announced: “Florida ports are open for business!” The Jacksonville Port Authority (“Jaxport”) is on board and has received a record number of containers at 1.4 million this fiscal year alone. Jaxport CEO Eric Green said that Florida is not experiencing the same congestion back up issues as … Read more