Maybe it’s a little rich to question Powell’s logic a few months after demanding he act to halt losses. But consistency is often in short supply when investors get anxious. Thanks to Fed doves, the dark days of December have been forgotten, with the obsession over rate cuts replaced by an obsession over what they’re intended to cure.
Negative-yielding debt topped $13 trillion in June, having doubled since December, and now makes up around 25% of global debt. In Germany, 85% of the government bond market is under water. That means investors effectively pay the German government 0.2% for the privilege of buying its benchmark bonds; the government keeps 2 euros for every 1,000 euros borrowed over a period of 10 years. The U.S. is one of the few outliers, with none of its $16 trillion debt pile yielding less than zero, but across the world, strategists are warning that the problem may get worse.
The Palantir user guide shows that police can start with almost no information about a person of interest and instantly know extremely intimate details about their lives. The capabilities are staggering, according to the guide.
The federal government has not been able to borrow money since March, when congressionally-mandated borrowing limits went back into force. The US Treasury, which is facing a growing deficit thanks in part to President Donald Trump’s 2017 tax cuts, had said it had enough cash to last until the fall.
Epstein was arrested on July 8th after indictment by a federal grand jury in New York. It was more than a decade after Alexander Acosta, the top federal prosecutor in Miami, who is now President Trump’s secretary of labor, accepted a plea bargain involving similar allegations regarding pedophilia that was not shared with the accusers prior to being finalized in court. There were reportedly hundreds of victims, some 35 of whom were identified, but Acosta deliberately denied the two actual plaintiffs their day in court to testify before sentencing.
Inspiration, Attitude, and Funeral Jokes (thc0655)
It might seem that it’s magic, writing down what you want 15 times a day and having coincidences show up that lead you to your goal. But, perhaps, the magic is just in you – seeing farther and deeper than you normally would is the magic. Having a goal changes you. Having the attitude that you can achieve your goal changes you so you can see the path more clearly.
With four cramped bedrooms, two filthy baths, and wall-to-wall vomit stained carpets, it’s your slice of heaven, the blotches of old puke dotting the landscape like pepperoni and sausage. The bank has a lien on it, but your family gets to live there as long as you don’t miss a payment.
That’s gotten harder as the spending ramps up.
Laffer Gets Laughable (thc0655)
And while all the members of the Federal Reserve Board are political actors (otherwise they never would have been nominated), at least they are not habitually threatened by primary challenges and attacks from the White House. An independent Fed is at least, in theory, able to set policy based on the consensus of dispassionate analysis of the national and global data applied against a backdrop of economic theory. And even though most of the economists at the Fed have fully ingested the snake oil of Keynesian economic nonsense, at least their process is deliberative and somewhat consistent. Imagine what would happen if the Fed were controlled by a single politician?
Even reports of OPEC’s decreased June production and the increased tensions between a British tanker and Iranian guard boats late yesterday failed to lift prices beyond yesterday’s spike which saw WTI crude top $60 a barrel for the first time in nearly two months. Both benchmarks were trading up more than 4 percent on the day yesterday as news of the hurricane and lowered US crude inventories bolstered stubborn oil markets that have failed to react proportionately to the usual price-moving stimuli.
The fortunes of some of Russia’s richest men were built by the labor of people forced to live in some of the dirtiest cities in the world. By some accounts, the amount of toxic waste in Norilsk exceeds even Chernobyl.
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