Twitter enlists Associated Press for fact-checking help despite record of journalistic flubs

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Twitter this week announced the rollout of a new fact-checking initiative that will rely in part on a major news organization that regularly published reports on the now-debunked Trump-Russia collusion theory and other disproven attacks on the Trump administration. The social media company said in an announcement on Monday that it had enlisted both The … Read more

New Infrastructure Bill Looks to Raise $30B Through Crypto Taxes

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A bipartisan infrastructure bill in Congress proposes to raise $28 billion from crypto investors by applying new information reporting requirements to exchanges and other parties. According to a draft copy of the bill shared with CoinDesk, any broker that transfers any digital assets would need to file a return under a modified information reporting regime. … Read more

ADP Report: Private Sector Added 330k Jobs in July – Far Short of 653k Estimate

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The 330,000 new positions is sharp deceleration from the 680,000 added in June and the lowest total since February. Leisure and hospitality led gains with 139,000 during a month in which goods-producing industries contributed just 12,000 jobs. Job creation at private companies tumbled in July as fears mounted over the spreading coronavirus delta variant, payroll … Read more

Frontier suspends crew for duct taping belligerently drunk passenger to his seat as they landed in Miami.

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That moment when you start to sober up and realized you’re taped to a seat tens of thousands of feet in the air. https://twitter.com/SweeneyABC/status/1422537706173775875 Within hours of the largest flight attendant union demanding support for the suspended crew, Frontier is out with a new statement. Frontier says their first statement was rushed, but still will … Read more

The Latest Lie, An “Independent Federal Reserve”, And All Signposts Point To Gold

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by Matthew Piepenburg via Gold Switzerland Earlier in July, U.S. President Biden came away from a meeting with Fed Chairman Jerome Powell and calmly announced that in addition to inflation being “short term,” we should fear not, as Biden also “made it clear to Chairman Powell that the Fed remains independent,” but “will act as needed.” Whewwww. Where … Read more

Wall Street Sell-Siders As Bullish Today As In 2002, Bubble Redux? (Addicted To Gov)

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by confoundedinterest17 You might as well face it, we’re addicted to gov. Or at least perpetual Federal Reserve intervention. Financial Times has a great graphic showing that Wall Street sell-side analysts are as bullish today as they were in 2002, just after the Dot.com bubble burst. One reason that Wall Street sell-siders are so positive in … Read more

Market Melt-Down Ahead?

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t’s looking increasingly clear folks: The economy has taken on too much debt. Interest rates can’t rise substantially without threatening to crash the entire system. But instead of exercising concern, Wall Street is partying hard with today’s cheap liquidity in a speculative orgy. Unless the situation changes dramatically, investment manager Lance Roberts foresees an approaching ‘Minsky Moment’ for the … Read more