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Adds NYT report details, Citigroup response Aug 2 (Reuters) – Media firm Forbes is exploring a sale of its business at a price of at least $630 million, the New York Times reported on Tuesday, citing four people with knowledge of the process. The publisher of Forbes magazine has tapped investment bank Citigroup to explore … Read more
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, warned Sunday the inflation crisis does not appear to be slowing down anytime soon. Inflation hit 9.1% last month, a figure not seen in more than 40 years. What did Kashkari say? Speaking on CBS News’ “Face The Nation,” Kashkari revealed that economists are repeatedly … Read more
⚠️ U.S. IHS Markit Services PMI Final (Jul): Act: 47.3Prev: 52.7Fcst: 47 Business activity declines for first time in over two years amid soft demand conditions Fastest fall in output since May 2020https://t.co/b33hpiVcN4 pic.twitter.com/vDlMiTtDVy — PiQ (@PiQMarkets) August 3, 2022 Composite PMI in the United States decreased to 47.70 points in July from 52.30 points … Read more
by Boo_Randy Per the NY Fed, U.S. household debt hit a record $16 trillion as soaring inflation outstripped wages, causing consumers to sink deeper into debt. This is not going to end well. Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, & BlackRock Jay. https://www.cnn.com/2022/08/02/economy/consumer-credit-borrowing-surge/index.html **New York (CNN)**Americans are piling up credit card debt as … Read more
by BoatSurfer600 Source: https://markets.businessinsider.com/news/stocks/amtd-digital-hkd-stock-price-ipo-chinese-tech-retail-traders-2022-8 Trap for retail
Basically. The US has asked countries with cutting edge Fab. To refrain from selling tech to China. Also No more can China Fab 10nm. The US is only allowing China to Fab upto 14nm. The US has reached out to Holland and Japan. And companies inside the US. https://www.bloomberg.com/news/articles/2022-07-29/us-pushes-expansion-of-china-chip-ban-key-suppliers-say h/t Hyper Star
by Martin Armstrong In my interview with Maria Zeee, you may have heard us mention the propaganda efforts to make eating bugs seem normal. In 2018, actress Nicole Kidman made a video for Vanity Fair in which she eats “micro livestock” from a fancy silver platter. This is an insult to the people of food-deprived nations … Read more
Hackers yanked almost $200 million in crypto from Nomad, a so-called blockchain bridge. Blockchain bridges allow users to transfer tokens from one network to another. They’ve become a prime target for hackers seeking to swindle investors out of millions. Hackers drained almost $200 million in cryptocurrency from Nomad, a tool that lets users swap tokens … Read more
New Media Rule: Don’t Say Gay Mainstream journalists have adopted what critics are calling a “don’t say gay” approach to covering the monkeypox outbreak in the United States. The media’s coverage of monkeypox, which officials in New York and California have declared a threat to public health amid rising case numbers, has studiously avoided using … Read more
By Matthew Piepenburg Once again, the US is facing a recession which Main Street feels, Wall Street whistles past, and DC simply denies. Below, we look at these recessionary forces and delusional policy makers in the context of blunt-speak rather than Fed-speak so that we can best prepare for what’s already felt but rarely spoken … Read more
https://twitter.com/RealDante12/status/1554272237506609152
h/t Jim Quinn
CNBC, Released on 8/2/22 Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge, joins CNBC’s ‘Squawk Box’ to weigh in on the markets ahead of the open on Tuesday. Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer … Read more
https://twitter.com/WallStreetSilv/status/1554769050764562435 The "American Dream" shopping mall is in default.https://t.co/haFV1TNGok Another casualty of misallocated cheap capital. 14 years of 0% rates later, pundits wonder relative to 2007, where is the leverage this time? Everywhere. pic.twitter.com/TmyeBQZk44 — Mac10 (@SuburbanDrone) August 2, 2022
During the "tech wreck" 2000-2002 the Nasdaq 100 declined -83% During this time there were seven bear market rallies of more than +20% You can get away with pretty-much ignoring countertrend moves in a bull market. Much harder in a bear market. pic.twitter.com/NRloCziFGz — Simon Ree (@simon_ree) August 1, 2022 We are now literally hearing … Read more
Rebel Capitalist, Released on 8/2/22 George Edward Gammon is an American real estate investor and entrepreneur. He produces and stars in a popular YouTube Channel. Prior to 2012, George started, owned, and operated multiple businesses ranging from conventions to advertising. The last growing to 24 million in annual revenues and over 100 employees. After 12 … Read more
by AC GEICO, one of the largest insurance companies in the United States, reportedly closed all 38 of it’s California offices on Monday, resulting in hundreds of workers being laid off. According to the company, GEICO would not be leaving outright, and will still be offering policies directly online, with all insurance functions continuing as … Read more
By Charles Kennedy Despite expectations of an economic slowdown, diesel demand appears to be rising unabated. For some countries around the world, diesel shortages are already a reality, and European countries are racing to secure diesel ahead of the embargo on Russian barrels. For the U.S., with the harvest season in the Midwest looming, it will … Read more
by John W. Whitehead “Every day in communities across the United States, children and adolescents spend the majority of their waking hours in schools that have increasingly come to resemble places of detention more than places of learning.”—Investigative journalist Annette Fuentes This is what it means to go back-to-school in America today. Instead of making the schools safer, … Read more
