Stagflation Signals Soaring
Stagflation signals soaring as factory orders tumbled in April. For the first time since April 2020, US Manufacturers new orders fell in April. The 0.6% MoM drop was triple the expected 0.2% MoM drop.
Category: Business
These 3 Giant Financial Entities Control 88% Of S&P 500-Listed Companies
There is no question that large corporations absolutely dominate our society today. They control what we eat, they control what we watch on television, they own most of the stores that we shop at, they provide the energy that our...
Supreme Court won’t hear J&J’s appeal of $2 billion baby powder verdict
The Supreme Court declined Tuesday to take up Johnson & Johnson’s appeal of a multibillion-dollar verdict in favor of women who said they developed ovarian cancer from using the company’s talcum powder products. The company argued that it did...
Russia Has Oil Reserves At Least Until 2080
Russia’s oil reserves will last until 2080 at the current pace of annual production, Natural Resources Minister Alexander Kozlov told Russian outlet RBC in an interview this week. Russia also has natural gas reserves for another 103 years of annual product...
US Home Prices Explode At Fastest Pace Since 2013
“In real terms, home prices have never been so high. My data goes back over 100 years, so this is something,” Nobel prize-winning economist Robert Shiller told CNBC’s “Trading Nation” earlier this week and according to Case-Sh...
Greenpeace to stop accepting Bitcoin donations
Greenpeace to stop accepting Bitcoin donations over environmental concerns. roof of work is proof of burning,” is fast becoming the dominant view of Bitcoin (BTC) among those who are serious about tackling the climate crisis. The words are from a...
TSMC is considering a 3 nm foundry in Arizona
TSMC—Taiwan Semiconductor Manufacturing Company, the chip foundry making advanced processors for Apple, AMD, and Qualcomm—is beefing up its plans to build factories in Arizona while turning away from an advanced plant in Europe. Last year, TSMC announced t...
JPMorgan, Wells Fargo Starts Credit Cards For People With No Credit Scores
After a year of clamping down on new credit card, mortgage, and commercial loan issuance in the aftermath of the COVID pandemic, US commercial banks are planning to issue credit cards to people with no credit scores. WSJ reports JPMorgan, Wells...
Thiel-Backed Group Inject $10 Billion Into EOS DEX
Block.one, a blockchain platform whose long-time backers include billionaire VC Peter Thiel, is launching a crypto exchange that seeks to combine attributes of traditional bourses with the benefits of decentralized finance. The exchange – will will be kn...
Goldman Sachs announces a new crypto trading team
Goldman Sachs has informed employees of a new cryptocurrency trading desk. It is the first time the US bank has formally acknowledged involvement in crypto-trading. The crypto team will report to Goldman partner, Rajesh Venkataramani. Goldman Sachs formally a...
JP Morgan launches Bitcoin Fund for rich clients after years of bashing cryptos
Ever since JP Morgan CEO Jamie Dimon first denounced bitcoin way back during the heady crypto-rally of 2017 (shortly before analysts revealed that JP Morgan’s asset-management arm was seemingly buying the dip on behalf of its wealthy clients via a...
Market Cap Of Money-Losing Companies Surpasses Dot Com Bubble Record
In a recent note from SocGen’s Andrew Lapthorne, the cross-asset strategist summarizes the ongoing market insanity delightfully, saying that “there is an increasingly large number of weird and wonderful signs of market excess, from surging crypto c...
IMF Introduces World Currency
It is no joke, something big happened last week. The IMF is going to give out loans in SDR. Special Drawing Rights are IMF’s currency. By itself, they’re nothing special, but the IMF has always lent in U.S. Dollars. That they are...
Something Happened on the Way to Monetary Heaven
Something Happened on the Way to Monetary Heaven: Janet Yellen’s Plunge Protection Team Has $142 Billion to Play With. Most Americans are unaware of the existence of the Exchange Stabilization Fund (ESF). Together with the Federal Reserve Bank of New...
The 15th Century Medici Bank Is Getting A 21st Century Re-Launch
The 15th century Medici Bank is getting a 21st century re-launch and also will serve crypto sector. The Medici Bank name, most notably associated with the 15th century banking giant in Italy that, at the time, was the largest and...