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LIVE today at 2pm PT, join me on Trader Merlin as we dive into the week's biggest market-moving stories. The Google antitrust case dominated headlines, with the DOJ pushing hard for a potential breakup of Google's core businesses— a move that could send shockwaves across the tech sector. Meanwhile, in the world of crypto and government, Elon Musk officially stepped down from the controversial Department of Government Efficiency (DOGE), signaling a potential new chapter for both Musk and the meme-turned-policy project. On Wall Street, the S&P 500 just posted its best May performance in over 30 years—closing the month up more than 6% as optimism around easing tariff tensions and a resilient U.S. economy fueled bullish momentum. Is this rally sustainable, or are cracks starting to form beneath the surface? We'll break it all down, plus look at the latest action in Bitcoin and altcoins, key technical levels across equities, and as always—I'll recap my personal trades and setups I'm watching for next week. Tune in LIVE at 2pm PT for all this and more—don't miss this week's Trading Week Wrap Up! #TraderMerlin #TradingWeekWrapUp #GoogleAntitrust #ElonMusk #DOGE #SP500 #Bitcoin #CryptoNews #StockMarketRally #InvestingPodcast #MarketRecap #FinancialPodcast #TradingPodcast #StockMarketNews #InvestingInsights   Contact TraderMerlin: Email – TraderMerlin@gmail.com Follow TraderMerlin: Twitter: TraderMerlin - https://twitter.com/TraderMerlin IG: TraderMerlin - https://www.instagram.com/tradermerlin/ FB: TraderMerlin  - https://www.facebook.com/TraderMerlin Live Daily Show:  - https://www.youtube.com/channel/UCczw6L9MSllTvWDK1fNlLrg Trading Applications used: -          Clik -          TradeStation -          Tradingview

Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news both superpowers are dicing with unsustainable budget deficits that are posed to explode. The Moody's downgrade was just a teaser. The bond market will make the real judgment.But first today, the overnight dairy auction brought the expected settling of prices, even though they remain high. They dipped overall by -0.85% on the low volumes offered but with the backdrop that the European season is currently at its peak. WMP and SMP both dipped minorly and as signaled in the derivatives market. The Cheese price sank -9.2% however but it had probably gotten excessively high in prior events, so an unsurprising correction. Chinese buying presence was a feature of this event.US retail salesrose +5.4% last week from the same week a year ago, but this is clouded by the unknown impact of their new tariff-taxes. It is their slowest rise since late March and the impact of the tariff taxes will be starting to show up now. So it could well be that retail sales volumes are starting to decline now as a consequence.On Wall Street, there is growing nervousness about how the Federal Government's budget is being planned. If it goes through as the Administration is proposing, the US deficit to balloon sharply. And the bond market will have something sharp to say about that.In Canada, their inflation rate fell to 1.7% in April, but there was a special on-off factor that helped it. It dropped from 2.3% in March not quite hitting the expected 1.6% May level. A large part was a drop in energy prices not only because the oil price is easing but they also removed the consumer carbon tax. Food prices prices were up +3.8% however, especially the cost of fresh food.China has cut its key lending rates to record lows at yesterday's May fixing. The one-year loan prime rate, the benchmark for most corporate and household loans, was lowered by 10 basis points to 3.0%, while the five-year LPR, which is the basis for mortgage rates, was cut by the same margin to 3.5%. These changes were what markets were expecting and the first reductions since October. It is another in the string of monetary easing measures announced earlier this month.That official move was immediately followed by the four largest Chinese state-owned banks who cut deposit rates by between -5 bps and -25 bps. Those four core SOE banks are Bank of China, China Construction Bank, ICBC, (all of whom have New Zealand subsidiaries) and the Agricultural Bank of China. Other banks followed. Money is flowing out of savings accounts now, back to higher earning "wealth products', a move that in the past has been fraught with risk.The US isn't the only superpower flirting with deficit spending danger. China is too, as its fiscal stimulus pushed its four-month budget deficit to a record high of -¥2.65 tln in 2025 (-NZ$620 bln). And there is no public pushback on the wisdom of that.Malaysian exports took off in April with a strong +16.4% rise from the same month a year ago. If we look past the pandemic recovery growth, it was near their best export performance since 2018. But also came as imports surged +20% to a new all-time record high.In Europe, it might have been marginal but it is worth noting all the same - consumer sentiment got less bad in May. This seems to have broken the 2025 run of declines in these survey results, a decline that really started in late 2024.In Australia, they cut their cash rate target by -25 bps as expected to 3.85% which they say is still at a restrictive level, just less so. Inflation and trade uncertainties are still on their mind - and the risks to their continuing expansion were more so that markets were anticipating. Governor Bullock's press conference comments were more dovish than the rate change statement, and more dovish that many were expecting. The RBA also trimmed its growth forecasts. Markets now expect at least two more -25 bps rate cuts to come through in 2025. Yesterday's Bullock comments opens up the possibility of more.The UST 10yr yield is at 4.48%, up a mere +1 bp from this time yesterday.The price of gold will start today at US$3285/oz, and up +US$58 from yesterday.Oil prices are a tad softer today at just over US$62/bbl in the US but the international Brent price is +50 USc firmer at US$65.50/bbl.The Kiwi dollar is now at 59.2 USc, up +30 bps from yesterday at this time. Against the Aussie we are up +40 bps at 92.2 AUc. Against the euro we are down -20 bps at 52.5 euro cents. That all means our TWI-5 starts today still just over 67.5 and essentially unchanged from yesterday.The bitcoin price starts today at US$106,320 and up +0.9% from yesterday. Volatility over the past 24 hours has been modest however at just under +/-1.2%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Markets in the US and Europe have rallied off the back of trade tensions easing between China and the US. On Wall Street, the S&P surged more than 3 per cent, while the Nasdaq catapulted 4.4 per cent higher.

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news things are turning sour in the trenches of the US economy - for consumers, many non-prime corporate borrowers, and even investors in some local manufacturing they did at the behest of Trump.But first in the week ahead our news will be dominated by the March quarter CPI release on Wednesday. Japan, India and the UK will also release inflation updates this week. The central banks of Canada, the ECB, Turkey and Korea will be re-assessing their monetary policy settings, and obviously they will focused on how the global tariff war by the US will affect them, and the role monetary policy can play to mitigate the coming negative influences.China will report its Q1-2025 GDP result, and Germany will report any changes in economic sentiment.On Wall Street, the Q1-2025 earnings season will kick off and reports from the major financial institutions will come in early. There will be a lot of attention on them, especially if they start to report a bumpy ride from the economic uncertainty.However, the big news over the weekend is that China is standing its ground. Beijing raised tariffs on American imports to 125% on Friday, hitting back against Trump's decision to hike duties on Chinese goods to 145%, and raising the stakes in the trade war. They repeated the "fight to the end" rhetoric, also saying they will "counterattack". "Even if the US continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy. At the current tariff level, there is no market acceptance for US goods exported to China."On immediate consequence of all this is that investors are turning away from the US dollar as a safe haven. And perhaps turning away from US Treasuries too.Equity markets seem to be ignoring a sharp change in US consumer sentiment. The University of Michigan survey plunged in April to its lowest level since June 2022 and well below what was anticipated. That's the fourth straight month of pullback, and this survey is now more than 30% lower since the November 2024 election. It is signaling growing worries about trade war developments that have oscillated over the course of the year.American consumers report multiple warning signs that raise the risk of recession: expectations for business conditions, personal finances, incomes, inflation, and labour markets all continued to deteriorate this month. The gauge for current economic conditions fell along with the component measuring expectations which is now at its lowest since May 1980. Meanwhile, year-ahead inflation expectations surged to 6.7%, the highest reading since 1981, from 5% in March. The five-year inflation expectations gauge edged up to 4.4% from 4.1%.To mitigate some of that, Trump cancelled his tariffs as they affect mobile phones, their components, computers and other electronics. Even for Trump, this is pretty odd. It is now very much cheaper to import iPhones and the like from China than make them in the US. There will be many investors, especially those who have started building out US manufacturing facilities at the behest of Trump, who are likely to be a touch unhappy with this flip-flop and they still have to pay 145% tariffs on their imported parts. Clearly Trump has zero idea about how tariffs work, although that is not news. Commerce Secretary Lutnick added confusion in a weekend interview saying the tech tariff cancellation will be temporary.Meanwhile, March producer price inflation in the US actually eased to 2.7% its lowest in five months, aided by a sharp drop in energy costs. Without those fuel cost drops, the index would have risen slightly to 3.3%.There are signs that lending activity is tightening sharply in the US. For two weeks, there have been no - zero - high yield leverage loans for corporates in the US. The funds making these loans are having sharp investor outflows, and banks have become quite risk averse. A credit crunch is underway for most non-prime borrowers. If it extends, there will be real trouble.In Canada, not only are they rejecting American products and travel options now, a new trend is that they are net sellers of US real estate they had as holiday homes.India released February industrial production data over the weekend and that showed growth decelerated sharply to +2.9% from a year ago, down from an upwardly revised +5.2% in January. Markets had expected a +4.0% rise in February, so this is a big miss and is the weakest expansion since August.In China, their March new yuan loans came in at +¥3.6 tln, sharply higher than the +¥1.0 tln in February and slightly more than anticipated. New bank debt support is flowing as they intend, but to be fair it isn't overly different to the usual seasonal pattern. It is even less that the record March new-debt flows in March 2023 of +¥3.89 tln, but it is the second highest March level ever, and +17.8% more than March 2024. Foreign currency lending dived -34% however.China's vehicle sales jumped in March from February to 2.9 mln units, but the near-term change is distorted by the Chinese New Year holiday period. NEVs rose to 1.2 mln of those units, now 42% of all sales. They seem to be on target to sell almost 33 mln vehicles in 2025, almost double the level in the US.Meanwhile, State-linked Chinese funds (the 'home team') stepped in to rescue Chinese stocks last week. But it's an expensive exercise, involving more than ¥7 tln so far and likely to have to go up much more than that. China's own credit crunch is coming at some point, but they can put it off a while yet.Separately, China is also battling unusually cold weather at present with much travel in the north cancelled.In Europe, German CPI inflationcame in at 2.2% in March (2.3% on an EU harmonised basis), slightly lower than in February, and lower than expected. Food prices were up +3.0% and the price of services were up +3.5%. It is also falling energy costs that are keeping a lid on their inflation.Coal and steel prices are falling, with the coal price now down to a level it first achieved in 2016.The UST 10yr yield is now at 4.50%, up +1 bp from this time Saturday.The price of gold will start today at just on US$3236/oz, and up another +US$2 from Saturday, and yet another new record high. That is up +US$217 or +7.1% from this time last week.Oil prices are unchanged from Saturday to be holding at US$61.50/bbl in the US and the international Brent price is now just over US$64.50/bbl. These are the same levels we had a week ago.The Kiwi dollar is now at 58.3 USc, up +10 bps from Saturday at this time and the highest since mid-December. A week ago it was 55.6 USc so a mammoth +270 bps appreciation or +4.7%. Against the Aussie we are up +20 bps at 92.8 AUc. Against the euro we down -10 bps from Saturday at just on 51.3 euro cents. That all means our TWI-5 starts today now just over 66.9 and up marginally from Saturday, up +130 bps from a week ago.The bitcoin price starts today at US$84,792 and firming, and up +1.2% from this time Saturday. Volatility over the past 24 hours has been modest at +/- 1.3%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

On Wall Street on Friday markets ended the week higher in what was the worst week the S&P 500 has had since September. The Dow Jones rose over half a percent, the tech-heavy Nasdaq gained 0.71% and the S&P500 jumped 0.56%.A US jobs data report was released on Friday, falling below expectations to 151,000 jobs in February, well below the consensus of 170,000 jobs predicted by economists.Over in Europe, markets closed lower on Friday following investor reactions to tariff implementation over in the US. The STOXX600 fell 0.46%, it's first losing session of the year. Germany's DAX dropped 1.75%, the French CAC lost 0.94% and over in the UK, the FTSE100 closed 0.03% lower.Locally on Friday, the ASX200 closed 1.81% lower with all but one major sector closing in the red. Losses were led by the information technology and real estate sectors which fell by 3.04% and 3% respectively. This was offset by the consumer staples sector which gained 0.35% by the closing bell.What to watch today:The Australian share market is set to open higher, with the SPI futures predicting a rise of 0.87% at market open this morning.On the commodities front this morning,Oil is trading over 1% higher at 67 US dollars and 4 cents a barrel as Donald Trump threatened Russia with sanctions if they fail to reach a ceasefire with Ukraine.Gold is trading slightly higher by 0.04% at 2911 US dollars an ounce and iron ore is trading 0.05% higher at 101 US dollars and 29 cents a tonne.Trading Ideas:Bell Potter maintains a speculative buy rating on Southern Cross Gold Consolidated Ltd (ASX:SX2) with a current share price of $3.60. Bell Potter has set a 12-month price target of $4.80, indicating a share price growth of 33.3%, hence the speculative buy rating is maintained.And Trading Central has identified a bearish signal on Westpac Banking (ASX:WBC), indicating that the stock price may fall from a close of $30.57 to the range of $26-$26.90 on a pattern formed over 109 days, according to the standard principles of technical analysis.

Why is investing in Game Stop going to cause the collapse of the financial system?In episode #475 of Mere Mortals 'Musings', Juan and I discuss: Tom Bilyeu's perspective that all financial actions are a form of gambling, James Jani's videos on GameStop and Bed Bath & Beyond (BBBY), how the irrational belief of "mother of all short squeezes" (MOASS) will lead to the financial system's collapse, our past financial delusions in stocks/properties/NFT's, the aftermath of bubbles bursting and Juan's current delusion of the impact of AI by 2026 (my opinion - correct).Huge thanks to Lyceum and all the other sat streamers out there. Your support means the world to us!Timeline:(00:00:00) Intro(00:03:00) Gambling Vs Investing(00:11:53) The GameStop Phenomenon(00:22:23) Bed Bath & Beyond: The Cult Of The Dead Stock(00:28:03) Boostagram Lounge(00:32:00) Personal Financial Delusions(00:45:02) Profiting From Financial Delusions(00:53:01) Bitcoin & Ignorance(01:00:01) Aftermath Of Financial Bubbles(01:11:52) Robert Downey Jr. On Wall Street(01:12:50) V4V: Time/Talent/Treasure Connect with Mere Mortals:Website: https://www.meremortalspodcast.com/Discord: https://discord.gg/jjfq9eGReUTwitter/X: https://twitter.com/meremortalspodsInstagram: https://www.instagram.com/meremortalspodcasts/TikTok: https://www.tiktok.com/@meremortalspodcastsValue 4 Value Support:Boostagram: https://www.meremortalspodcast.com/supportPaypal: https://www.paypal.com/paypalme/meremortalspodcast

Have you ever felt like no matter what you do, you'll never break free from your current financial situation? Do you catch yourself thinking, “This is just how my life is meant to be”? If so, you're not alone. Many people are born into circumstances that shape their beliefs about money, success, and their own potential. But what if those beliefs are holding you back? The truth is, your mindset around money could be the very thing keeping you stuck. Thinking you're destined to fail because of where you started in life is a broken mindset. And yet, so many people live their entire lives believing they are trapped, unable to break the cycle. The problem isn't where you come from—it's how you think about money. If you don't understand your views on money or address the deep-rooted psychology behind them, you'll continue to repeat the same patterns. What could be accomplished if people broke free from limiting beliefs about money? What's stopping us from taking the first step toward change? Bradley T. Klontz, Psy.D., CFP® is an expert in financial psychology, financial planning, and applied behavioral finance and he joins me for this episode to share on financial psychology and how to change the money mindset so many people are conditioned to.   Things You'll Learn In This Episode  How to deal with roadblocks  Overcoming roadblocks is essential to achieving wealth—persistence is key. How can we stay motivated when facing obstacles on our path to financial success? Rich vs. poor mindset Surrounding ourselves with those who have a poor mindset can hinder our financial growth and future. How does the mindset of those around us influence our financial success? If others can achieve it, so can we Seeing others succeed proves that achieving our goals is possible for us too. What steps can we take today to follow in the footsteps of those who inspire us? Guest Bio Bradley T. Klontz, Psy.D., CFP® is an expert in financial psychology, financial planning, and applied behavioral finance.  He's an Associate Professor of Practice at Creighton University Heider College of Business, Co-Founder of the Financial Psychology Institute, and Managing Principal of YYMW Advisors. Dr. Brad is co-author/co-editor of 8 books on the psychology of money: Psychology of Financial Planning (Wiley, 2023), The Practitioner's Toolkit (Wiley, 2023), Money Mammoth (Wiley, 2020) Facilitating Financial Health (NUCO, 2008; 2016), Financial Therapy (Springer, 2015), Mind Over Money (Broadway Business, 2009), Wired for Wealth (HCI, 2008), and The Financial Wisdom of Ebenezer Scrooge (HCI, 2005; 2008). He is a Fellow of the American Psychological Association, and a Former President of the Hawaii Psychological Association. He was awarded the Innovative Practice Presidential Citation from the American Psychological Association for his application of psychological interventions to help people with money and wealth issues and his innovative practice in financial psychology for practitioners across the country. Dr. Brad has been a columnist for the Journal of Financial Planning, On Wall Street, and Psychology Today: Health, Help, Happiness + Find a Therapist . His work has been featured on ABC News' 20/20, Good Morning America, and in USA Today, The Wall Street Journal, New York Times, Washington Post, Los Angeles Times, Time, Kiplinger's, Money Magazine, NPR and many other media outlets and professional magazines and journals. He was appointed to the CNBC Financial Advisor Council in 2023 and received the 2018 and 2021 Montgomery-Warschauer Awards from the Journal of Financial Planning, honoring the most outstanding contribution to the betterment of the financial planning profession. He has partnered with organizations including Capital One, JP Morgan Chase, Mutual of Omaha, and H&R Block in efforts to help raise public awareness around issues related to financial health and financial psychology. Visit https://www.bradklontz.com/  Email Brad brad@klontzconsulting.com     About Your Host From pro-snowboarder to money mogul, Chris Naugle has dedicated his life to being America's #1 Money Mentor. With a core belief that success is built not by the resources you have, but by how resourceful you can be. Chris has built and owned 19 companies, with his businesses being featured in Forbes, ABC, House Hunters, and his very own HGTV pilot in 2018. He is currently founder of The Money School™, and Money Mentor for The Money Multiplier. His success also includes managing tens of millions of dollars in assets in the financial services and advisory industry and in real estate transactions. As an innovator and visionary in wealth-building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of how money works. Chris is also a nationally recognized speaker, author, and podcast host. He has spoken to and taught over ten thousand Americans delivering the financial knowledge that fuels lasting freedom.   Check out this episode on our website, Apple Podcasts, or Spotify, and don't forget to leave a review if you like what you heard. Your review feeds the algorithm so our show reaches more people. Thank you! 

On Wall Street the Nasdaq closed Thursday's session above the 20k-mark for the first time ever after the CPI data hit expectations. A further rate cut by the Fed is now expected next week. Asian markets followed suit into the green with investors now eyeing further stimulus from Beijing as a two-day economic summit ends today. We are live at the ECB where a fourth rate cut is almost a certainty but focus will turn to next year's outlook as the euro zone grapples with faltering growth in France and Germany and the impact of the second Trump presidency. We are also at the SNB in Bern for the first rate decision under new chairman Martin Schlegel with markets split on the size of a widely anticipated rate cut.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A vote of no-confidence in France brings the government down, ensuring Michel Barnier is the nation's shortest-serving prime minister in more than 60 years. We are live in Seoul, South Korea where President Yoon Suk Yeol faces an impeachment vote this Saturday following Tuesday's 6-hour long declaration of martial law. On Wall Street, tech stocks push indices into the green with the Nasdaq enjoying its best day since July. Federal Reserve Chairman Jerome Powell, however, still urges caution over further rate cuts. And in crypto news, Bitcoin finally breaches the $100k-mark as it continues to rally following the election of Donald Trump. The President-elect taps crypto advocate Paul Atkins for SEC chairman. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

South Korean President Yoon Suk Yeol is reportedly facing an impeachment vote as early as this Friday following yesterday's 6-hour period of martial law. The political fallout sent the Korean won plunging to a two-year low. In Paris, Prime Minister Michel Barnier's government is on the brink of collapse as opposition parties table a vote of no-confidence over his handling of the country's budget. On Wall Street, the S&P 500 and Nasdaq enjoy fresh record highs ahead of this Friday's employment print. E-commerce giant Amazon launches plans for a new A.I. super-computer using home-grown semiconductors in a bid to head off rival Nvidia.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On Wall Street overnight the S&P 500 notched another fresh record high ending the day up 0.05%, while the Nasdaq added 0.4% and the Dow Jones underperformed the market with a decline of 0.17%. Key US jobs data also out overnight indicated there were more job openings in October than September with 7.74 million openings which topped Dow Jones estimates of 7.5 million, indicating the labour market is cooling.In Europe overnight markets closed mostly higher as investors assessed political instability in France. The STOXX 600 rose 0.44%, Germany's DAX added 0.42%, the French CAC rose 0.3% which was a pullback from earlier gains following France's PM Michael Barnier turning to special constitutional powers to pass a contested budget bill without parliamentary vote. And, in the UK, the FTSE100 ended the day up 0.56%.Across the Asia markets on Tuesday, it was a green finish as markets in the region tracked record closes for the S&P 500 and Nasdaq in the US on Monday. Japan's Nikkei rose 2.22% on Tuesday, Hong Kong's Hang Seng rose 1%, South Korea's Kospi index added 1.71%, and China's CSI index added 0.11%.The ASX rose 0.6% on Tuesday setting a third record high in the past week and boosting the key index over 8500 for the first time in history during the day. The year-to-date gains for the ASX have now risen to almost 12% buoyed by the strong tech rally this year which has propelled the tech sector up 58% year-to-date. KFC Australia operator Collins Foods (ASX:CKF) lagged the market gains yesterday with a loss over 4% after the company revised FY25 earnings guidance downwards amid a challenging consumer market and sticky inflationary pressures. Zip Co (ASX:ZIP) shares also fell 0.6% after co-founder Larry Diamond sold $100m worth of shares in the buy now, pay later company a day after he resigned from the board to focus on family and philanthropic ventures.What to watch today:Australia's retail sales data for October released on Monday showed that despite the high cost-of-living environment, Aussies are still spending with retail sales up 3.4% in October compared to a year earlier. Cafes, restaurants, and takeaway services recorded a rise of 2.3% while ‘other retailing' which includes cosmetics, sport and recreational goods' rose a significant 8.4%. This rise in retail spend adds to the RBA's inflation journey headache as retail spend is a key driver of inflation remaining sticky in Australia.On the commodities front this morning, oil is trading almost 3% higher at US$70.15/barrel, gold is up 0.12% at US$2645/ounce and iron ore is up 2.81% at US$105.32/tonne.The Aussie dollar has slightly weakened overnight to buy US$65.11, 96.88 Japanese Yen, 51.14 British Pence and NZ$1.10.Ahead of the midweek trading session in Australia the SPI futures are anticipating the ASX will open the day down 0.35%.Trading Ideas:Bell Potter has initiated coverage of Fenix Resources (ASX:FEX) with a buy rating and a price target of 41cps as the analyst sees the WA-based mining company's portfolio of low-capital mining assets and integrated logistics networks should continue to underpin robust cash flows, funding growth expenditure and shareholder returns.Trading Central has identified a bullish signal on Nick Scali (ASX:NCK) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may rise from the close of $14.47 to the range of $15.40 to $15.60 according to standard principles of technical analysis.

Apple shares dip following cautious guidance ahead of Christmas. The company also reveals little about demand for its new iPhone 16. Amazon posts a beat on quarterly earnings causing shares to pop in extended trade. The e-commerce giant's CEO Andy Jassy pledges to significantly ramp up spending on the company's A.I. technologies. On Wall Street the S&P 500 and the Nasdaq suffer their worst day in more than a month following disappointing Big Tech results. And in the UK, the gilt sell-off increases and sterling endures a volatile session as investors fear Chancellor Rachel Reeves' budget could force inflation back up while piling up debt.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crude prices tumble following reports that Israel will back off targeting Iranian oil or nuclear infrastructure. Opec has also slashed its demand forecast. On Wall Street, the S&P 500 records its 46th record close of 2024, helped along by tech giant Nvidia hitting a new all-time high which places it on the verge of overtaking Apple as the world's most valuable company. We are live at the Paris Motor Show where European car makers pledge to take on Chinese competition. Xpeng CEO Brian Gu tells CNBC the company is looking beyond European Union EV import tariffs. In London, UK Prime Minister Keir Starmer vows to cut red tape to ramp up investment in the country. BNY CEO Robin Vince tells this channel a steady, pro-growth and consistent approach is key for investors.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Commerzbank promotes CFO Bettina Orlopp to CEO as the German lender faces takeover advances by Italy's Unicredit. Chinese equities see an extended rally following the PBOC's decision to slash the medium-term lending rate as a part of a string of stimulus measures by the central bank. The move boosts the yuan to a 16-month high. On Wall Street, the Dow and S&P 500 record new record highs, shrugging off disappointing recent consumer confidence data. Israeli airstrikes kill a senior Hezbollah commander as well as hundreds of civilians. The Israeli President Isaac Herzog tells CNBC his country will ‘do whatever it takes' to protect its citizens and cities. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities hit a two-and-a-half-year high following stimulus measures from Beijing. The PBOC cuts the seven-day reverse repo and the RRR in a bid to shore of up the country's floundering property sector. Our CNBC TV 18 colleagues sit down with JP Morgan Chase CEO Jamie Dimon who says markets should remain cautious despite last week's historical rate cut by the Fed. On Wall Street, the Dow and the S&P 500 notch new records as the Fed cut relief rally continues this week. German Chancellor Olaf Scholz slams Unicredit after the Italian lender increases its stake in Commerzbank to a potential 21 per cent. And we are live at the Labour Party conference in Liverpool where chancellor of the exchequer Rachel Reeves defends the government's public finance decisions and says her budget next month will provide ambition rather than austerity. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CNBC's Eamon Javers and pollster Frank Luntz help digest the fireworks of the Presidential debate between Vice President Kamala Harris and former President Donald Trump, including the big Taylor Swift endorsement that came after. On Wall Street, investors were unsurprised by the Labor Department's August Consumer Price Index. Neuberger Berman's Steve Eisman discusses the likelihood of a 25 basis point interest rate cut from the Federal Reserve next week. And, 23 years later, Americans come together to remember those lost in the September 11th terrorist attacks.  Eamon Javers - 4:31Frank Luntz - 15:35Steve Eisman - 27:23 In this episode:Eamon Javers, @eamonjaversBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

If you are a follower of the end times, today is your day to say the least. Lots of breaking news everywhere you look and all of it, from a worldly perspective, is bad and getting worse. In the Middle East, the United States is prepared at any moment for Iran, Hezbollah, Yemen and Hamas to launch an attack on Israel. On Wall Street, the stock market is reacting to the prospect of a Kamala Harris presidency, and it is in the process of crashing, shedding over $1 TRILLION in value so far. Welcome to the KamalaKrash. On this episode of the NTEB Prophecy News Podcast, today is Day 304 of the Israel-Hamas War, and Day 1,603 of 15 Days To Flatten The Curve, and you can literally feel the end times electricity in the air. In the Middle East, at any moment Israel could find themselves in a 5-front war eerily similar to the Six Day War. In the United States, after nearly 2 weeks of all news stories being about Kamala Harris becoming the next president, the stock market has made its comment on that prospect with an eye-popping stock market crash that is still ongoing, who knows how bad it will fall. In England, fed up with their government's policy of endless illegal immigration, British citizens have begun vigilant justice in the streets as a response to the many rapes and murders illegals have been conducting since their arrival. So much to talk about today, almost impossible to know where to start first, but into the breach we go. TO THE FIGHT!!!

On Wall Street, the S&P 500 had its worst day in nearly two years and the Dow Jones Industrial Average shed over 1,000 points. Shares on Japan's Nikkei Index fell by over 12% — their worst showing since Black Monday in 1987. Cryptocurrencies dropped, bond yields rose and the VIX, known as the fear index, saw its biggest one-day spike in more than 30 years. Is the Fed to blame? AI over-exuberance? Warren Buffett? On today's episode, Bloomberg columnist John Authers walks host David Gura through the global market meltdown: what triggered it, how long it could last, and when to panic. Read more:  $6.4 Trillion Stock Wipeout Has Traders Fearing ‘Great Unwind' Is Just StartingFurther listening: Why the Market's Big Tailwinds Are Coming to an EndSee omnystudio.com/listener for privacy information.

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.Today we lead with news the economies of most major powers are in good shape and their companies are prospering.But for those who follow such things, we should note that President Biden has decided not to run in the Presidential election in November, stepping aside. The race for the Democratic nomination is now open at their convention in Chicago starting on Tuesday August 20 (NZT) even though Biden endorsed Kamala Harris.Well before then and ahead this week will be some early PMIs for July released for many key economies. Although there are no major June CPI due for release, the US's important PCE inflation data is due on Saturday NZT and that will be keenly awaited. The US will also release its first estimate of Q2 GDP on Friday and markets expect real growth there to be +2% from Q1. Good recent data might well see it above that.Canada is reviewing its policy rate on Thursday, and market now expect a -25 bps cut to 4.5%China is set to announce its policy interest rate decision this week, and it should be releasing its troubled FDI update soon, both possibly later today.Over the weekend, the big overnight news was that a "faulty channel file" from CrowdStrike took down Windows computers everywhere, including in New Zealand. Outages were widespread, including for many bank services. It was a spectacular own-goal and not a malicious strike. We have more details here. And our review shows how you can recover if you were affected.. But be careful; within hours scammers had launched new domains hoping to trick users into 'response scams'. CrowdStrike made its name fixing tech problems. Now it has caused a doozy. The echoes are lingering and may do for some time yet.And the situation isn't going to do anything for tech company valuations generally. US$13 bln CrowdStrike's share price was down -11% on Friday alone, down -18% for the week.Interestingly, China seems to have escaped the issue, largely due to its self-sufficiency policies. But it has hit Hong Kong.A new research note by the New York Fed is pointing out that since the GFC, American factory productivity improvements have stalled. Tech has been no saviour to this sector. Prior to that, large firms built innovative advances. But since even the leading firms haven't got productivity gains. They call the change a 'mystery'. Even shifting low-wage production offshore didn't have the effect of raising it. Nor competition, it seems. And all this come as their employed workforce hit record highs.In Canada, their expected May retreat in retail sales after the strong April gain came in deeper than expected. If it wasn't for good car sales, it would have been much worse. June is expected to be -0.3% lower too. Now their year-on-year gain is only +1.0%, much less than their inflation of +2.7%.Canadian producer prices rose +2.8% in the year to June, the same as for the year to May.Japanese inflation stayed at 2.8% in June, well above their central bank's upper target range. It has been consistently above 2% since April 2022. Food prices rose 3.6% in June although that was lower than the May 4.1% rate. Energy prices were up 2.4% but that is somewhat artificially high because fuel subsidies ended in May. These levels are marginally lower than analyst expectations.China has ended its internal policy meetings, the Third Plenum. As suspected, little real economic reform seems to have been on their agenda. Just more of a 'security is everything' attitude, more excessive adverbs, and a seeming turn inward. Those hoping for 'reform' and 'opening up' will have been disappointed.The UST 10yr yield is now at 4.24% and unchanged from Saturday.On Wall Street, earnings season will hit a crescendo this week with over thirty companies boasting market caps exceeding US$100 bln are set to unveil their Q2 financial reports. So far, only one in seven of S&P500 companies have reported Q2 results but they have been strong. Of those most are reporting earnings growth, and more than anticipated by analysts.The price of gold will start today up just +US$3 from Saturday at US$2401/oz after Friday night's big drop.Oil prices are holding lower at just on US$78.50/bbl in the US while the international Brent price is just under US$82/bbl.The Kiwi dollar starts today little-changed at 60.1 USc but more than -1c over the past week. Against the Aussie we are still at 89.9 AUc. Against the euro we are also still at 55.2 euro cents. That all means our TWI-5 starts today at 69 but down -90 bps for the week.The bitcoin price starts today at US$66,720 and up a minor +0.3% from this time Saturday. Volatility over the past 24 hours has been low at just on +/- 0.8%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

that in the three elections held over the weekend, 'democracy' seems to be signaling a rejection of the hard-line and hard-right.But first in the week ahead the main event will be Wednesday's RBNZ OCR review. But there will be other important global data released as well, including the American CPI and PPI results for June. China will release its versions of inflation monitoring as well, and the data on new yuan loans. India will release its June CPI data too, plus industrial production data for May. And from Australia we will get the NAB business sentiment results for June, and the Westpac consumer sentiment survey results.First up however we should note that China's foreign exchange reserves in USD were little-changed in June from May, holding the level they have been since late 2023. But they are rising in yuan, mainly because the yuan is depreciating. Their gold reserves remained unchanged for the second straight month at 72.8 million troy ounces (2264 tonnes) and that ends a gain for 18 consecutive months,Those reserves have been put to political use. First it was Sri Lanka, now Laos has succumbed to China's 'debt trap' diplomacy. China's 'encouragement' to develop their countries - with official Chinese loans - has plunged Laos into a financially unsustainable situation, and Beijing is now promising to 'help' them out of the mess. Easy money and a drive to 'catch up' is too much of an enticement for local leaders. In the end the price is subservience. Essentially, China now owns Laos.In Japan, their huge Government Pension Investment Fund, one of the world's biggest institutional investors, booked a +NZ$462 bln gain in the past year (more than New Zealand's entire economic activity as measured by GDP). They need it however. As wages rise there and their workforce ages further, the claims on that will rise. That fund alone has reserves of almost NZ$2.5 tln.On Saturday (NZT) the closely watched non-farm payrolls report for the US was released with a headline result of +206,000 larger employment in June, slightly more than the +190,000 expected. Their unemployment rate changed little at 4.1%.But this seasonally-adjusted data masks an actual rise of +547,000 people on company payrolls, although that was lower than the +844,000 increase the prior month. It also masks some downward revisions to the prior month.There are now 161.8 mil people employed in June in the US, including the unincorporated self employed, up +433,000 from May. So all the growth is in company payrolls and people are shifting out of self-employment to the more formal workforce.And that is conformed by pay rates. Average hourly pay hit US$30 for the first time ever in June, up +4.0% from a year ago (and rising faster than inflation). Average weekly earnings (which accounts for working hours), rose +3.7% (also more than inflation which is running at 3.3%). But these gains are now easing from earlier months.Basically, this data changed their economic situation little but is has a sense of a slowing trend. US Treasury yields fell on the news, but Wall Street equities took it in its stride. The USD eased very slightly.The Fed probably liked what it saw. New York Fed boss said the US economy was doing remarkably well and there had been significant progress towards inflation goals. Fed boss Powell will be testifying in Congress this coming week.The next US Fed rate review is on August 1, 2024 NZT.In Canada, their labour market report for June wasn't as positive. In fact their employed jobs fell a trivial -1,400 when a +22,500 rise was expected. They will be disappointed in that. This data probably advanced the case for a July rate cut when their central bank meets next on July 25, NZT. Their policy rate is currently 4.75%.And staying in Canada, there was some more positive news. Their widely-watched local June PMI rebounded sharply back to April growth levels, consigning the lowish May result to outlier status. They have now had eleven consecutive month of economic growth, the second highest string since 2016 (the pandemic aftermath excepted).France is voting in the second round of its most crucial legislative elections in recent years, with the early results suggest a sharp rejection of the far-right.. Voter turnout however is being described as being unusually high - as are the stakes. In Iran, the more moderate of the two options for 'President' (a position subservient to the top cleric) won handily in a signal their population wants a less confrontational government and more focus on economic improvement. And the British election delivered an unusually large 'landslide' for its center-left Labour Party, with strong gains for its third-force LibDems as well. The hard-right Reform Party won only 5 seats, despite getting 14% of the votes. Such is FPP. In Tokyo, their first female governor secured a third term on Sunday in the capital's election. It was also a clear rejection of hard-right nationalist opponents.The UST 10yr yield is now at 4.28% and unchanged from Saturday and down -12 bps from a week ago. The key 2-10 yield curve inversion is little-changed at -33 bps. Their 1-5 curve is now at -78 bps. And their 3 mth-10yr curve inversion is still at -109 bps. The Australian 10 year bond yield starts today at 4.41% and unchanged. The China 10 year bond rate is now at 2.27% and also unchanged. The NZ Government 10 year bond rate is now at 4.77% and up +4 bps from a week ago, but unchanged from Saturday,On Wall Street this week we will get the early corporate results for Q2, led as usual by some big banks. These upcoming Q2 reports will be following an unusually strong Q1 set, one that generally gave upbeat forward guidance. There will be interest over whether those bullish views have continued.The price of gold will start today down -US$1 from Saturday at US$2389/oz. A week ago this price was US$2326/ozOil prices are marginally firmer at just on US$83/bbl in the US while the international Brent price is just under US$87/bbl.The Kiwi dollar starts today +10 bps firmer from Saturday and now at 61.5 USc. A week ago it was under 61 USc so a +½c rise since. Against the Aussie we are at 91.1 AUc. Against the euro we are holding at 56.7 euro cents. That all means our TWI-5 starts today at 70.6 and little-changed.The bitcoin price starts today at US$56,949 and up +0.7% from this time Saturday. Volatility over the past 24 hours has been modest at just on +/- 1.7%.

Indian prime minister Narendra Modi looks set to secure a third term in office with a narrower-than-expected parliamentary majority. We are live in New Delhi as the vote count continues. On Wall Street the Dow falls 100 points on the first trading day of June as U.S. manufacturing numbers indicate the economy is contracting. Gamestop shares rally following renewed social media activity by the investor known as Roaring Kitty. CNBC learns that Paramount and Skydance agree to merger terms after months of negotiations. Shipping giant Maersk hikes its guidance for the second time in just over a month as Red Sea tensions and soaring demand push freight rates higher. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Renault enjoys a FY operating margin on revenue of more than €50bn and is set to hike its dividend. French aviation giant Airbus sees full-year results surging on the back of a record orderbook and is also due to propose a special dividend payout. On Wall Street, the S&P 500 is back up at the 5,000-point mark as chip maker Nvidia briefly overtook Alphabet on market cap value. Meanwhile Berkshire Hathaway pares back its Apple stock and ramps up investment in Chevron. The company has sought confidentiality from regulators to keep its stock purchases secret in its latest 13-F filings. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hello and welcome to CNBC-TV18's daily markets podcast. Here's a snapshot of all that you need to know before the February 13 trading action -The domestic stock market failed to hold opening gains on February 12, weighed down by broad-based profit booking. Small- and mid-caps extended their slide on rising concerns over high valuations. The NSE Nifty 50 index settled 0.76% or 166.45 points lower at 21,616.05, while the S&P BSE Sensex closed 0.73% or over 500 points lower at 71,072.49. -Foreign institutional investors (FIIs) net bought shares worth ₹126.60 crore, while domestic institutional investors (DIIs) purchased ₹1,711.75 crore worth of stocks on February 12, provisional data from the NSE showed. -Following the February 2024 quarterly review, NMDC, GMR Airports, Union Bank, BHEL and Punjab National Bank have entered the MSCI Global Standard Index. Apart from the new additions, the index provider has also increased the weights of Zomato, DLF, MRF, Hindalco, Interglobe Aviation, Dr Reddy's, Hero Motocorp, HDFC AMC, Lupin, Astral, One97 Communications and Bandhan Bank. - On Wall Street, the S&P 500 ended down slightly after hitting a fresh intraday record high. The MSCI world stock index was flat after touching its highest level since January 2022. -US' January consumer price index report is due later today, while the U.S. producer prices report is due later in the week. Investors are also eager to see Thursday's U.S. retail sales report for January. -The Asia-Pacific markets mostly rose this morning as more markets return to trade from the Lunar New Year holiday, including South Korea and Singapore. Japan's Nikkei 225 rose 1.82% on its open, crossing the 37,000 mark. Should the Nikkei sustain its gains and close above this mark, it will reach a 34-year high. Markets in China are closed for the week, due to the Lunar New Year holiday. Hong Kong is closed Tuesday, but is set to resume trading Wednesday. - Bitcoin has hit the $50,000 level for the first time in more than two years as the world's largest cryptocurrency was buoyed by expectations of interest rate cuts later this year and last month's regulatory nod for U.S. exchange-traded funds designed to track its price. -Results: Eicher Motors, Hindalco Industries, Siemens, Zee Entertainment Enterprises, IRCTC, Bharat Heavy Electricals, Bosch, National Aluminium Company, Gujarat Gas, Indiabulls Real Estate, Innova Captab, INOX India, Oil India, and Sula Vineyards among others. -Stocks to track: Coal India, JSW Energy, Steel Authority of India, Hindalco - Gift Nifty was trading 0.1% percent lower at 21,728 at around 7:30 am, indicating a flat start of the domestic market. Tune in to the Marketbuzz Podcast for more cues

David does The News.

German engineering giant Siemens posts a 56 per cent rise in Q net income and boasts an order book of more than €22bn. CEO Roland Busch says the China market remains a concern. Shares in chip maker ARM are up 40 per cent in after-hours trade after the firm hiked guidance on strong A.I. demand. ARM's major shareholder Softbank also posts a $16bn gain in earnings. Disney hikes its forecast and announces its foray into gaming, investing $1.2bn in Fortnite maker Epic Games. In China, producer prices fall for a sixteenth consecutive month while consumer prices have their steepest fall since 2009. On Wall Street, the S&P 500 records another record high – just five points shy of the 5,000-mark. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The legacy of slavery in this country is undeniable. And yet we're a long way from acknowledging how fundamental it is to how America came to be, and how it should be discussed and represented. Those tensions are playing out in our monuments - including in places we don't often associate with slavery, like New York City. On Wall Street sits Federal Hall, a place dedicated to many firsts: the First Amendment, the first Capitol building and the first U.S. president. Less than a mile away is the African Burial Ground, dedicated to the 419 enslaved Africans buried there. Considered together, these two National Park Service sites illuminate how we talk about the birth of the United States, and the enslaved people who made this new country possible. For more on the show, visit prx.org/monumental.

French luxury giant LVMH smashes expectations to post almost $24bn in Q4 sales on rebounding Chinese demand. CEO Bernard Arnault has urged the need to focus on quality over quantity. On Wall Street the S&P 500 hits a record high to close in the green for a fifth consecutive session while the Dow also scores a new record peak on the back of stronger-than-expected economic growth Stateside. Tesla shares sink the most in a year with the EV maker seeing $80bn wiped off its valuation as demand weakens. And in tech news, Intel also sees a fall in its share price in extended trade as poor demand for data centre chips affect Q1 guidance. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today's podcast: 1) Treasury Secretary Janet Yellen called on lawmakers to pass a temporary spending bill this week and avert a partial US government shutdown. 2) The European Central Bank is likely to cut interest rates in the summer, according to President Christine Lagarde. Interviewed at Bloomberg House in Davos by Francine Lacqua, she was asked if there could be majority support for such a move, given that several policymakers have signaled that timing. 3) Apple Inc.'s iPhone dethroned Samsung Electronics Co. devices to become the best-selling smartphone series over the course of 2023, the first time South Korea's largest company has lost the top spot since 2010. Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin in Washington. That's where a temporary spending bill to avoid a government shutdown this weekend has cleared its first hurdle. Bloomberg's Amy Morris has more from the nation's capital. The Senate voted to advance the measure that will fund some federal agencies through March first and others through March eighth. The interim funding is the support of congressional leaders, including House Speaker Mike Johnson, so the prospects for passage in both chambers are good. Does not include several disputed items like eight for Ukraine restrictions along the US border or an eighty billion dollar business tax package. And there are hard right conservatives in the House who oppose funding agencies at current levels, but Speaker Johnson can bypass them by relying on Democrats for support. In Washington. Amy Moore as Bloomberg Radio. All right, Amy, thanks well. Now to the latest on the race for the White House. It's on to New Hampshire for the Republican candidates, and Bloomberg's at Baxter reports are really starting to heat up. Nicki Haley has been very careful not to directly attack Donald Trump, but one day after Iowa as she's calling him a bully and a liar. Trump lamb based Haley as a disaster. Now this all comes with polling that chowse the two very close. In New Hampshire, Real Clear Politics has Trump by about fourteen points, but the American Research Group even called it dead even at forty four percent, with Ron Desatus at only four percent. Tomorrow's schedule debate has been canceled because Haley declined if Trump wasn't going to be there at Baxter Bloomberg Radio, Okay, and thanks. Now let's turn to the Middle East. Israel and Hamas have reached a deal to deliver medicine and other aid to Gaza. That's according to the government in Kadra, which says this is in exchange for medicine reaching the hostages being held by Hamas. White House National Security Advisor Jake Sullivan says there is still a risk this war widens to a regional conflict. We do see a pathway to a shift in the military campaign in Gaza, a reduction in tensions and the exchange of fire along Israel's northern border, a reduction in the risk of escalation in other parts of the region, and we'll have to continue to deal with the Hoothi threat. National Security Advisor Jake Sullivan spoke from the World Economic Forum in Davos. Israeli President Isaac Herzog plans to bring the families of hostages to the slopes in Switzerland today to step up pressure for their release. Well, Nathan, back here in the US, we are waiting for a key economic group board as doubt grows on whether the FED will start cutting rates as soon as March, and we get the very latest with the Bloomberg's John Tucker, John and Karen. Retail sales probably increased in December. However, the control group sales, which strip out volatile items, that likely slowed to a more subdue pace. Traders are launching on every piece of data as the FAN enters a blackout period next week. Yesterday, Federal Reserve Governor Christopher Waller threw a little cold water around the idea of FED rate cuts as soon as March. With economic activity and labor markets in good shape, and inflation coming down gradually to two percent, I see no reason to move as quickly or cut as rapidly as in the past. With Wallner's comments, Transury suffered their biggest one day price drop in two months. Yield Seweragetan also drag stocks lower. John Tucker Bloomberg Radio, John thanks, rates are very much in focus overseas that the World Economic Forum. European Central Bank President Christine Legard said the ECB will probably cut rates by the summer. I would say it's likely too, but I have to be reserved because we're also saying that we are data dependent and that there is still a level of uncertainty and some indicators that are not anchored at the level where we would love to see them. ECB President Leaguard made those comments to Francine Lockwha at Bloomberg House in Davos. You can hear their full conversation on the Bloomberg Talks podcast. Well Nathan investors are scaling back their expectations for rake cuts from the Bank of England this year. Inflation in the UK unexpectedly accelerated for the first time in ten months. December's consumer price index was four percent higher than the previous year. On Wall Street, Karen JP Morgan Chase is bucking a trend, the bank plans to hire more workers. We caught up with JP Morgan president Daniel Pinto at Davos. We are employed at the end of the year around three hundred and twenty thousand people. So the number of people that employ has been growing and not ranking. So I think that where we see opportunities and we can have our clients, for sure, we'll focus on that. Daniel Pinto's comments come after JP Morgan closed out the most profitable year in US banking history. Also more banking news this morning, Nathan, the government is unveiling a long awaited rule that could slash the biggest bank's income from overdraft fees by as much as three and a half billion dollars each year. Under the regulation from the Consumer Financial Protection Bureau, banks would only be able to charge what it costs for them to break even for covering an overdraft or a bu by a specific cap that would effectively eliminate overdraft charges for customers, which right now average about thirty five dollars. Let's turn to some corporate news now. Karen Apple has reached a milestone. The company's dethroned Samsung to become the world's top phone maker in twenty twenty twenty three. IDC estimates the iPhone accounted for a fifth of the global market last year with close to two hundred thirty five million shipments. Apple's dominated recent holiday quarters, but the full year surge is unprecedented, and it suggests Apple is weathering an industry wide slump better than its rivals. And finally, Nathan, it was supposed to be the merger from Heaven, or at least from thirty thousand feet, but now a federal judges block Jet Blues three point eight billion dollar acquisition of Spirit Airlines. The judge says the combination with stifle competition and raise fares for consumers. Jet Blue and Spirit contended that consolidation is the only way smaller airlines can effectively compete with the dominant carriers. Time and not for look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris Amy, Good morning, Good morning, Karen. President Biden is worried about his supplemental bills stalling out in Congress, so he's inviting some of the key players to the White House today. Bloomberg's Nancy lyons with the latest. White House Press Secretary Karine Jean Pierre provided a list of those invited to the meeting, and then Biden will host congressional leaders from the Senate and the House, along with key committee leaders and ranking members. She says there's a lot to talk about, but President Biden has one topic he's especially concerned with. This is going to be about discussing critical importance of the President's Facial Security supplemental request. That's the proposal to further fund Ukraine, Israel, and Taiwan. Republicans are refusing to move on that until there's a consensus on a new border policy in Washington. Nancy lyons Bloomberg Radio. Secretary of State Anthony Blincoln says soil should be treated as a precious resource, telling the World Economic Forum in Davos that lack of food is causing unprecedented global migration flows at Russia's war in Ukraine and attacks by who they rebels and the Red Sea have made things worse. A parent who can't put food on the table for their children picks up the family and moves because it's the most basic thing, the most important thing that they can do. Lincoln says, the problem is likely to get worse as climate change threatens to reduce crop yields. Now Climate Envoy John Kerry, also at the World Economic Forum, says he's stepping down from the role within the Biden administration so he can take on a more vocal position for the Biden campaign. He assured other world climate leaders that yes, he'll still be around. I'm going to stay at this and there are so many different ways to continue to be able to be engaged in this. So unfortunately you're stock. You'll see me at the copy you see. Rivia Carrie says regardless of who wins the election, the global climate agenda will remain solid, and the World Health Organization says the number of adult tobacco users is on the decline. The organization says the biggest decrease in tobacco use is seen happening in lower to middle income countries. We have nineteen million less smokers than we had two years ago. That is the first time that we see such a decline. Doctor Rudiger Kresh is urging countries to continue putting control policies in place for tobacco. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg Karen. All right, Amy, thank you. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines of the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Charny Atlanta Falcons, one of seven NFL teams looking for a head coach at indications that the Falcons are looking for a big name to be their new coach. The day after they interviewed Bill Belichick, they interviewed Jim Harbaugh, who previously had already interviewed with the Los Angeles Chargers. So Harbaugh clearly hasn't interest in returning to the NFL and leaving Michigan, where he just won a national championship. Reportedly, Harbaugh if he stays with Michigan wants it written into his contract that he can't be fired due to NCAA violations. Mike Tomlin has reportedly told his team in Pittsburgh that he'll remain as coach of the Steelers. It's the job he's had for seventeen years. The Steelers had only had three different head coaches in the last fifty four years. Jason Kelsey told his teammates in Philadelphia just after that blowout loss at Tampa Bay at the end of their season that he's retiring at age thirty six, thirteen years all with the Eagles. He won a Super Bowl, He went to the Pro Bowls seven times. Taulliat tadabaloo. That's to his younger brother, who's been playing quarterback for Maryland. Denied a waiver for another year of eligibility, so he journing the Pro Battle. The NBA's top two big man and Joe lmb And outplayed the Kola Yokiz. He scored forty one points in the second straight game. Philadelphia beat Denver one twenty six one twenty one big comeback and Phoenix, led by Kevin Durant, they were down twenty two to the fourth court of the Sun's rallied top Sacramento by two. Hockey of the Capitals are two nothing to win over Anaheim, kyl and Shops second right, Purdue an easy win at Indiana. John Skashanwer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on siriusxam, the Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. European Central Bank President Christine Legard says aggressive bets on interest straight cuts from the financial markets are not helping policymakers with their task to bring down inflation, but she says it is likely the ECB will cut rates in the summer. Madame Lecguard spoke with our editor at large France seen Lockwow from the World Economic Forums Bloomberg House in Davos, Switzerland. Let's listen in to part of that conversation. Now, when you look at inflation, when you look at monetary policy, what's changed your mind on how quickly we get a cut from the ECB? You know, when I look at a year ago in doubles and when I compare that with where we are today, I see a slope downward, but certainly not a slope which is at target where we want it. So that's what we have achieved. I think in a little over a year, bring inflation back from where it was in October twenty two at ten point two percent down to a two point nine percent month and month December, and certainly with the prospect of keeping it down and further down because our target is two percent and we are you know, I would have said a year ago that we are determined we want to get it to SI I would say to you now that we are confident that we will get it to that target two percent medium turn. Are market's too optimistic on the industry. I'm not going to comment on markets. Markets do their job, they have their numbers, they have their objectives. What we do at the CB, and what I think most central banks would do, is work as hard as we can collecting data using artificial intelligence by the way for that, analyzing data, confronting viewpoints, checking models against empirical data, doing scenario analysis, and being as as comprehensive as we can to anticipate what's coming. And it's hard because what many people don't understand is that monetary policy works with a lag. So whatever we do now is going to have an impact in a few months and sometimes a year or two, and we have to take that in account to decide what we do, how long we hold, and what decision we make in due course. When you say that you gather data also with AI, it does AI also analyze because again you're looking at the current data. You're trying to forecast what your monetary policy is doing in the future. So is it algorithms? Like, how does that work? We do data collection a lot, we don't We don't determine monetary policy using algorithm and artificial intelligence. And I think that time we can check with the AI experts, of course, but I don't think that that time has come yet. When you look at again the forecast, and I understand you're not focused on the market, but if the markets prices that are not focused, we look at them, we look at what they say. We are attentive, but everyone has their job and we cannot, you know, sort of second guess what they will think that we are thinking that they are second guessing. I mean, it's it's a catch twenty two job, right, But if the market is too optimistic about cuts, does it actually hurt and not help the fight against inflation by doing that? I was going to ask you that, So it makes sure your job harder if if they're actually mispricing what you're trying to tell them, it is not helping a fight against inflation. If if the anticipation is such that you know, they are way too high compared with what's likely to happen. Is it too early to cry victory against inflation? How do you see it behaving? We are on the on the right path, We are directionally towards the two percent. But unless and until we are confident that it is sustainably at two percent medium term and we have the data to you know, support it, I'm not going to shout victory. No, not yet. How much is the inflation reduction thanks to your monetary power and how much of it is like, No, I wouldn't call it luck. I think two factors have played a critical role, and it's the decline in energy prices that we have observed. You know, energy prices pushed prices up massively, and energy prices decline of course has a similar impact. So that's number one. Number two the bottlenecks that we have observed as a result of COVID in particular, and which lasted quite a lot of quite a long time, has gradually faded out, and that also had an impact, you know, more supply, more availability of goods. Second factor. The third factor is monetary policy, and it's undoubtedly been effective, if only to anchor inflation expectations, which we know is really important. So it has had an impact on inflation itself, but it has definitely had an impact on inflation expectations, which by all accounts and all surveys and all measurements have come down and are really now broadly onto that two percent medium term target that we have. I know it's obsessive two percent medium term targets, but yeah, that's what it is. Yeah, but at least it's auld guide the markets, right, I mean, it's good to be upsetsed. Well, if they don't know that that's what we are aiming for, then they need to have the head examined, that's for sure. And then again talk to me a little bit about wage bargaining. So again is that going to be on the upside and could that change you know, the timing of a possible work. Well, I'm glad you mentioned wages in general, wage bargaining in particular, and I'll go to that, but I want to tell you that there are three things that I'm watching carefully. Wage bargainings, profit margins, energy prices, and hopefully not but the coming back of supply bottom Miex. Those are four key components which could have a serious impact on the work that we're doing against inflation. But back to your wage question. Wages have gone up, but relatively slowly, so in prices have gone up earlier and faster than wages, so we are now facing a moment of not only some degree of alignment, but catch up as well. So employees have lost purchasing power in the course of twenty one twenty two, and there is now a catch up effect in the bargaining discussions that are taking place. We will know a lot more, probably in April May, because the numbers the bargaining agreements are being negotiated in the first quarter of every year, and the results come in after the agreements have been closed, so that gives us indication that we can corroborate and verify in the late spring, I would say of of twenty four, that will be a strong indication our wages slowly catching up, and that catch up process will take place over the course of two or three years possibly, or is there a very strong catch up coupled with an alignment with inflation, which would give me concern because while we're not seeing today's second round effect, that could be the result of this sort of twofold process. Are you confident there will be a cut this year in interest rates? Confident? I'm confident that short off another major shock, we have reach reached a peak. Okay, Now we have to stay restrictive for as long as necessary to make sure that we get to that state where we're all saying, okay, confident that it is at two percent medium term. I know some people argue that maybe we are overshooting, maybe we're taking risks. I think the risk would be worse if we went too fast and had to come back to more tightening, because we would have wasted all the efforts that everybody has put in the last fifteen months. The US election, Yeah, let me have some coffee. How arid are you about the US election? It's for the American people to decide what they want with their politics, with their government. With their future. But obviously we are all concerned about it because the United States is the largest economy, the largest defense country in the world, and has been a beacon of democracy with all its upside and downside. But this is what they should be considering, and of course we cannot interfere with their choice. It's their choice and that's the beauty of democracy. But we have to be extremely attentive and anticipate, just as we do with inflation. You know, we do scenarios. What if, what if? Then what do we do? Because that's the real question. And you know where I sit now in Frankfurt, head of the ECB, I think that we have to be strong as Europeans and not assume that we can rely on whoever our friends are around the world, because these things change over the course of time, as we have seen. So what if Donald Trump gets into the White House, what are some of the policies that europe could be put in place to not be cut also between China and the US with Donald Trump and the White House. Well, for one, it has to be strong of its own and if I look at my own shop, because it matters to monetary policy transmission, I think that and you will hear that from others. We have to accelerate capital market union. We need financing in Europe. There is a lot of saving in Europe, and we have to make sure that those savings actually stay here to finance what needs to be financed, which is predominantly the climate transition, which is digitalization, which is enough industrialization conducted with a targeted approach so that we can on the key in the key areas be self sufficient. Are there policies that you would put in place now for Europe to I guess counter the US exceptionalism, which you know could be questioned going forward. I think I would accelerate many of the initiatives that have been taken, and I would encourage European leaders to put aside a little bit they respective idiosyncraty idiosyncratic differences to be more together because you know, it's a question of off size and scale, and Europe is a very large market, has a very sizable population, has capacity to innovate, has financing. It has to you know, be a little bit more cohesive together and forward looking. This is Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak and beSee 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Indian benchmark indices, Sensex and Nifty 50, are likely to start the trading session of January 10 with minor cuts, following mixed cues from global markets. On Wall Street, US indices closed near the flat line after a range bound session overnight. Some of the technology stocks helped NASDAQ close in the green while S&P 500 was flat. Dow too saw recovery from day's low but failed to turn positive. The MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.35% in morning trade, after logging losses in each of the six previous sessions. Meanwhile, India's GIFT Nifty was trading at 21,573 as of 8:18 a.m. IST, suggesting the NSE Nifty 50 will open near its close of 21,544.85 on January 9. Among the key stocks to track are Zee Entertainment, Delta Corp, Vedanta, and SpiceJet. Tune in to the Marketbuzz Podcast for cues

The Bank of Japan revises its upper limit on the 10-year JGB yield as a loose reference rather than a strict cap with the yield now hitting its highest level in almost a decade. On Wall Street, the S&P 500 enjoys its best day since August exiting correction territory but all three major U.S. indices are set to close October in the red – their first three-month losing streak since March 2020. In China, manufacturing activity saw a surprising dip for the month with services and construction also falling. And in corporate news, Tesla shares sink after its battery partner warns that EV demand is faltering. X CEO Elon Musk's stock plan indicates he values the social media company at less than half the price he paid for it last year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

IMF Managing Director Kristalina Georgieva says the global economy is holding up, ahead of next week's Annual Meetings – while calling for structural reforms in Germany. On Wall Street, attention turns to September's non-farm payrolls report, with analysts expecting 170k new jobs to have been created – slightly lower on the month. EU leaders gather in Granada, pledging more support for Ukraine. European Parliament President Roberta Metsola urges allies to step up, telling CNBC the bloc can't do it alone. Elsewhere Exxon Mobil is reportedly in advanced talks to buy Pioneer Natural Resources, in a deal worth as much as 60-billion dollars, as the U.S. energy giant wades deeper into the shale space. And we delve into the troubles at Metro Bank after shares plunge on reports the U.K. challenger bank is looking to raise £600 million in capital, or sell a significant chunk of its mortgage book.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Dr. Brad Klontz | Financial Psychologist | Author | Professor | Speaker | Financial Advisor BIO:Dr. Bradley T. Klontz, Psy.D., CFP®, is a renowned expert in financial psychology, applied behavioural finance, and financial planning. He is an Associate Professor of Practice at Creighton University Heider College of Business, Co-Founder of the Financial Psychology Institute, and Managing Principal at YYMW Advisors. Dr. Brad has made significant contributions to the field with eight books on the psychology of money. He's a Fellow of the American Psychological Association, a former President of the Hawaii Psychological Association, and received the Innovative Practice Presidential Citation from the American Psychological Association. Dr. Brad is a columnist for prestigious publications, including the Journal of Financial Planning, On Wall Street, and PsychologyToday.com. His work has been featured on ABC News' 20/20, Good Morning America, The Wall Street Journal, New York Times, and USA Today, among others. He's been honoured with awards like the 2018 and 2021 Montgomery-Warschauer Awards from the Journal of Financial Planning and has partnered with top organizations like Capital One, JP Morgan Chase, Mutual of Omaha, and H&R Block to promote financial health and psychology awareness. Why You Should Listen: In this episode, Dr. Brad Klontz shares his passion for delivering practical and relatable financial guidance on TikTok. He challenges the common misconception that millionaires indulge in lavish spending, presenting research that shows they tend to be frugal. Dr. Klontz explores the psychology of trust on social media, the dynamics of content virality, and the stark differences between poor and rich mindsets. Dr. Klontz's mission is to inspire and challenge listeners to rethink their financial beliefs, helping people gain financial confidence by challenging our assumptions. Be sure to stay until the end when RootHub makes up a song for Dr. Klontz! Highlights: Discover why Dr. Klontz is dedicated to providing financial advice on TikTok. Learn to distinguish authentic trust from artificial trust when seeking financial advice on social media. Gain insights into the psychology of virality. Learn the differences between poor and rich mindsets. Get tips on crafting compelling messages that resonate with people. Dr. Klontz encourages listeners to challenge their financial beliefs and plant the seed for a brighter financial future. The importance of cultivating an internal locus of control Understand the importance of providing well-researched financial advice on social media to counter misinformation. Quotes: “This is possible for me. I am training to plant a seed,” Dr. Klontz Links: Dr. Klontz on TikTok: CLICK HERE Dr. Klontz's website: CLICK HERE

On Wall Street the S&P 500 and the Nasdaq suffer their worst week since March as a trio of Fed officials doubled down on ‘higher for longer' rate hike cycle signals. Chinese property giant Evergrande sees shares plunge after it announced it was unable to issue new debt due to an investigation into one of its subsidiaries. There has been a breakthrough in Hollywood between the writers' union and the major studios but in Detroit strikes have expanded with President Joe Biden set to join the picket lines tomorrow. European Trade Commissioner Valdis Dombrovskis has said that China could do more to improve Europe's perception of risk from the country but stresses that Brussels does not seek to decouple from Beijing. And in Spain, 40,000 people protest against plans by Prime Minister Pedro Sanchez to grant Catalan separatists amnesty.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Are you ready to unravel the mysteries of your tangled relationship with money? We invited Dr. Brad Klontz, a distinguished psychologist, author, and innovator in the realm of financial psychology, to shed light on the emotions and beliefs that drive our financial behaviors. Engage with us as we navigate Brad's personal journey, and explore how his work with individuals across the socioeconomic spectrum has shaped his understanding of wealth psychology. Delve into the world of money scripts with us and understand how they influence your financial health. Dr. Klontz guides us through the four types of money scripts - money avoidance, money worship, money status, and money vigilance. Learn about the universal experience of money-related shame and its potential to lead to money avoidance. You'll be astounded at how our financial well-being hinges on our comparisons with others. Lastly, we ponder over the concept of personal mission and how it can align our choices with our values. Dr. Klontz shares his personal mission statement and how it has steered his work. We also discuss the existential crisis that success can trigger, leading to money avoidance, shame around money, and difficulty expressing values with money. This episode promises to challenge your views on money, wealth, and success - providing fresh insights that will foster a healthier relationship with your finances. Tune in and embark on a journey to better financial mental health. Key Takeaways: (0:00:02) - Psychology and Wealth Intersection Exploration (0:06:28) - Exploring Learned Helplessness and Financial Health (0:17:41) - Exploring Money Scripts and Beliefs (0:24:56) - Understanding Money Scripts and Overcoming Shame (0:35:56) - Overcoming Shame and Comparison in Finances (0:44:21) - Discovering Personal Mission and Healing (0:52:16) - Navigating Post-Success Existential Crisis (1:01:13) - Expressing Gratitude and Future Plans Resources Mentioned: Dr. Brad on IG Dr. Brad on TikTok Website "What's your money script?" Assessment About Brad: Bradley T. Klontz, Psy.D., CFP® is an expert in financial psychology, financial planning, and applied behavioral finance. He's an Associate Professor of Practice at Creighton University Heider College of Business, Co-Founder of the Financial Psychology Institute, and Managing Principal of YYMW Advisors. Dr. Brad is co-author/co-editor of 8 books on the psychology of money: Psychology of Financial Planning (Wiley, 2023), The Practitioner's Toolkit (Wiley, 2023), Money Mammoth (Wiley, 2020) Facilitating Financial Health (NUCO, 2008; 2016), Financial Therapy (Springer, 2015), Mind Over Money (Broadway Business, 2009), Wired for Wealth (HCI, 2008), and The Financial Wisdom of Ebenezer Scrooge (HCI, 2005; 2008). He is a Fellow of the American Psychological Association, and a Former President of the Hawaii Psychological Association. He was awarded the Innovative Practice Presidential Citation from the American Psychological Association for his application of psychological interventions to help people with money and wealth issues and his innovative practice in financial psychology for practitioners across the country. Dr. Brad has been a columnist for the Journal of Financial Planning, On Wall Street, and PsychologyToday.com. His work has been featured on ABC News' 20/20, Good Morning America, and in USA Today, The Wall Street Journal, New York Times, Washington Post, Los Angeles Times, Time, Kiplinger's, Money Magazine, NPR and many other media outlets and professional magazines and journals. He was appointed to the CNBC Financial Advisor Council in 2023 and received the 2018 and 2021 Montgomery-Warschauer Awards from the Journal of Financial Planning, honoring the most outstanding contribution to the betterment of the financial planning profession. He has partnered with organizations including Capital One, JP Morgan Chase, Mutual of Omaha, and H&R Block in efforts to help raise public awareness around issues related to financial health and financial psychology. **episode note** We are aware that the audio quality is not what we anticipated on our production side, but we felt the content was so rich (pun intended) that we decided to go ahead and share it with you despite the tech potholes. Thanks for your understanding.

Key happenings in the economy and world of finance:US government shutdown The Fed's new conundrum Wall Street's year in reviewECB plans to raise borrowing costsPrepare for the Central Bank marathon This week on FinWeekly, we tackle trends on key financial events that are shaping our current landscape: First up, House Speaker Kevin McCarthy's proposal to avoid a government shutdown by cutting domestic agency spending by 8%—we'll break down the potential impacts. Next, the Fed's facing a challenge as the U.S. economy isn't slowing down as expected despite interest rate hikes; we'll discuss why finding the right balance is critical. On Wall Street, experts are revisiting their predictions for the S&P 500 Index after underestimating this year's stock market rise. However, they're not calling it a bull market just yet. Economist Nouriel Roubini is sounding the alarm about rising oil prices potentially leading to stagflation in Europe. Lastly, a 36-hour central bank marathon involving 11 key players is underway, tackling complex monetary policy in a world with diverse inflation and economic challenges. Despite inflation concerns, markets are surprisingly confident in predicting policies, inflation rates, and bond yields. Trust that central banks are planning for the worst but hoping for the best as we navigate the rest of the week. Stay tuned for more updates and insights.Helpful links:Free 3-Day Trial! Enroll in the BYFIQ AcademyJoin Our Free CommunityApply to the Boost AcceleratorTrain your team with an on-site workshop Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.Support the show

ECB officials attending the central bank's annual forum in Sintra have played down talk of rate cuts. We hear from ECB chief economist Philip Lane who says the bank must remain data-dependent when making rate decisions. U.S. housing and consumer data shows resilience but Chinese industrial further declines by double digits. On Wall Street, the Dow breaks a six-session losing streak to stay on track to record its best month since November. Resurgent tech stocks have pushed the Nasdaq towards its best H1 for forty years. In banking news, UBS is reportedly ready to cut Credit Suisse staff by half starting next month.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The White House and Republicans are reportedly inching towards a debt deal that will remain in place until past the 2024 elections. On Wall Street, the Nasdaq closes up 1.7 per cent, powered primarily by Nvidia shares. U.S. Commerce Secretary Gina Raimondo holds ‘candid and substantive' talks with her Chinese counterpart Wang Wengtao after months of tit-for-tat incidents and raised trade tensions between Washington and Beijing. And we are live in Valencia ahead of pivotal regional elections across much of the country this weekend. The poll is seen as a key test for parties going into this winter's general election.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

If you don't know who the sucker is at the poker table it's you. I was joined in this conversation by Wall Street Journal reporter Spencer Jakab. His latest book is “The Revolution That Wasn't: GameStop, Reddit and the Fleecing of Small Investors.” The frenzy in meme stocks in 2021 was perceived as a Robin Hood style raid on Wall Street. Reddit forums filled with young men holding "diamond hands" taking down the financial industry. The truth was far more nuanced. We also took a detour to look at insider trading by members of Congress.Spencer Jakab writes for and edits the Heard on the Street Column at The Wall Street Journal. He was Deputy Editor between 2015 and 2019 and wrote the Journal's daily investing column, Ahead of the Tape, for four years before that. Spencer spent four years at Britain's Financial Times writing the “Lex” and “On Wall Street” columns and got his start in financial journalism at Dow Jones Newswires where he was part of a SABEW-winning team covering energy markets. Spencer is the author of two books on the plight of individual investors, both published by the Portfolio imprint of Penguin Random House. “Heads I Win, Tails I Win: Why Smart Investors Fail and How To Tilt the Odds in Your Favor” (2016) and “The Revolution That Wasn't: GameStop, Reddit and the Fleecing of Small Investors.” His first career was in finance where he spent years as a top-rated emerging market stock analyst. He lives in New Jersey with his wife and three sons.Find out more at the blog post: https://www.stocksforbeginners.net/blog/jakabHere's a link to the book: The Revolution That Wasn't: Gamestop, Reddit, and the Fleecing of Small Investors by Spencer Jakab (goodreads.com)Portfolio tracker Sharesight tracks your trades, shows your true performance, and saves you time and money at tax time. Get 4 months free at https://www.sharesight.com/stocksforbeginnersDisclosure: The links provided are affiliate links. I will be paid a commission if you use this link to make a purchase. You will also usually receive a discount by using these links/coupon codes. I only recommend products and services that I use and trust myself or where I have interviewed and/or met the founders and have assured myself that they're offering something of value. Stocks for Beginners is for information and educational purposes only. It isn't financial advice, and you shouldn't buy or sell any investments based on what you've heard here. Any opinion or commentary is the view of the speaker only not Stocks for Beginners. This podcast doesn't replace professional advice regarding your personal financial needs, circumstances or current situation. Hosted on Acast. See acast.com/privacy for more information.

Guy's Bio:With over 20 years in the financial services industry, Guy has extensive experience as a family-centric investment advisor. He specializes in estate planning, inheritance oversight, and wealth transfer strategies for families. Previously with Citi, Bank of America Investment Services, and MML, his ultimate ambition was to provide unbiased estate oversight and launched a private practice in 2010 which would grow into core planning.Growing up in south Ferguson, Guy attended De Smet Jesuit High School through its work-study scholarship while earning a full ride as an Evans Scholar to the University of Missouri-Columbia. After studying Finance and Fine Arts at Mizzou, he followed up with a Masters Degree in Finance at Webster University in St Louis.Nationally recognized, Guy's advice has been quoted by such outlets as Inc. Magazine, Newsweek, Forbes, US News, Consumers Digest, Fox Business, TheStreet.com, Parade Magazine, MSN Money, Nasdaq.com, Financial Advisor Magazine, On Wall Street, and Yahoo Finance among others.Blessed with wonderful family and friends, Guy loves outdoor activities such as trail-running, kayaking, hunting and fishing. He is actively engaged in the community, volunteering on multiple nonprofit board seats.  Always cultivating creative imbalance with art: oil, acrylic, and fused glass.He and his wife, Jaime Lee, live in O'Fallon, Missouri with their four amazing, loud, and loving children.Social: https://www.linkedin.com/in/guypenn/Twitter: @guympenn

Audio file  RIPMEDICALDEBTDRAGSHOW.mp3    Transcript  Good morning, comrades. You're listening to I'm just said WMNF like that is the community radio station. When I grew up in Saint Petersburg, like Tampa Bay, it was like in NPR affiliate and everything. But this is not WMNF. This is WHIV. 102.3 low Power FM I'm a little throwed right now. This is Robert of good morning. Comrade Jeff has made his way back to fight for labor rights in Virginia, right? I'm a little throwed because we're not recording in the studio. This is not live, so please hold all calls. But this is in the home studio. And I'm with my lovely wife Aaron, who is a in and out, you know, guest. Of the podcast also host guest licensed mental health profession. And she's here. So it's like having your very own doctor Katz.  I'm also in the world's squeakiest chair, so sorry, everybody.  It's very squeaked out.  And also I have really bad vocal fry. So your.  Vocal fry is fine. You it's authoritative.  No, apparently no amount.  How do you figure that?  Because I've I've spoken to Ben.  That men are trash like you've told me this. On various occasions. So why are we concerned of what men think?  Because your listeners, you're. Mostly men. I'm.  Assuming, I mean they are when I run the when I run the, I'm trash I'm I'm trash.  You guys aren't. Trash, though, so that's so don't complain about my. Local fry, so we'll be fine. We're all good.  No, there is definitely a trash can that lives inside of me. So and also I just had to grab my keyboard from because we have our cat Ozzie, who is chilling out, but he loves to like lay on the keyboard and then it's just like a random like, what's going to happen when he does it. Usually he screws up video games. He's trying to screw up recording of a podcast right now, but he's such a.  Our other at Henry likes to attack my laptop when I'm using it, especially when I'm on a training or a conference call and she likes to send fund messages to the other participants.  Good boy. That's so awesome.  And then I get a bunch of messages back. I think your cat sent me a message. And it's like, yes.  Yeah. What did it say?  No, mostly it was like a lot. Of days and ages.  Ohh, a sassy a sketch lot of case.  No, that's where she. That's where she was standing.  Lot of case sassy, sassy cats, sassy cats.  JKL drive.  What's going on, Aaron? Somebody tried to steal our cat? I found out.  I guess that's going on OK.  Speaking of cats. So I come home and like both of our neighbors, our neighbor from up the block and and our neighbor next door is like there was a guy cause we have a, you know, our we have cats who have three cats and they're like indoor outdoor cats and.  And before you all come for us, we tried to make them be indoor cats. And these cats have figured out how to escape from the house. Robert came into our room, just not 15 minutes ago and stated that our cat Annie had we took away her normal. Escape route. She normally jumps on top of Roberts Arcade cabinet and then into the cabinet above our closet, and then shimmies up the air conditioning vent. Because, you know, she really wants to get outside.  To the attic.  But we moved to the video Gamer Cabinet video cabinet, anybody?  Over the age of.  Well, so we move that. So she just scaled the wall.  Yeah, she just was like Spiderman and just dug 1 claw into another and just vertically straight vertically scale. I think she looked back at me like she surprised herself like she's plotting it. She's like, I don't know. But I'm gonna give it. We can give. It a A you know, a world. And then she was just up in the crawl space, looking down at me like. Man, I did it.  Like there's literal cat claw. Like in the wall.  I'm looking at.  So, yeah. So we did really try to make these cats stay indoors. They just refused.  But yeah, so both our neighbors are like, hey, we have a cat Annie who, like, runs wild and free.  So anyway.  And like she just, you know, hangs out with everybody. She comes with us when we walk our dog, she walks it. She walks with us around the block. She just, you know, we'll get pets from everybody. Well, apparently there was some, like, hipster. Dude, they they described him as a tall white guy. Thin, with short shorts on cowboy cowboy boots and a tank top. And I'm like this man came straight out of the Bywater to try to steal my cat. They said he just he like and he came over to him for some pets. He picked up Annie and just started walking down the street and Annie was like, screaming bloody murder, like trying to get away and our neighbor. That came out like what's going on and was like, you put that cat down right now like, because that's not your cat. That's the blocks cat.  She is truly the blocks cat. I get sad about it sometimes cuz I did want her to be my cat. Which is why I adopted her. That you know the block needed her and she showed up, you know? She answered the call.  It's insane. How's how's work going for you?  Works good. We're finally staffed properly because they decided to give us. All of. A praise so.  That's great. Yay.  Yeah, that's crazy. You know, you get to like, you give people more money, they're more willing to.  They want to do things.  Work for you? But yeah, I can't really talk about my work just because HIPAA, but yeah. People are still struggling.  It's pretty bad out there.  Yeah, it's not. As bad as it could be, but it's.  Did you see? I guess we'll just do like. We'll we'll eat our we'll take our eat our vegetables first before uhm. Our dessert, did you see in Tennessee, the governor has the Governor of Tennessee has signed a bill that's going to. Make drag shows illegal.  Which I truly don't understand because Nashville is The Bachelorette capital of the world. From what I understand, and I don't understand how you can have a Bachelorette party without a drag brush.  Yeah, I mean, I can't go back to Nashville now, but yeah, he's a trash bag for sure. But did you see on top of that, on top of all that pictures were dug up of him in high school at a powder puff football game?  So funny and it's sad, but funny.  So he is. He is in a dress. And literally like the reporter that confronted him with, it was like. Like it must be like 4 Chan news.com cause he literally said is this you this you? What do you got to say about this? And he was just like, oh, that was in good fun.  Yeah, every drag brunch I've ever been to has been in good fun too, so I don't understand drag show.  I know.  I shouldn't just keep saying drag brunch. I'm just really basic.  You just you just gotta have eggs with your.  So that's mostly when I see drag.  You gotta have eggs with your drag show.  I'm either watching drag wrestling or I'm on drag brunch. There's truly no in between for me.  And dry wrestling about two weeks ago, that was. Pretty good that. Was great. It was pretty nice.  It was fantastic. But this is, you know, I not to be talked kind of light hearted about something so terrible. But you know. My mom has. Sometimes has asked me, you know, why I'm. I'm kind of down frequently and I don't really know how to explain to her that I have a really sick feeling in my stomach that. You know how similar the times are to the Weimar Republic and what came after the Weimar Republic is not something that. I particularly want to live through. Or have ever have happened. Again, again, again.  Yeah, I'm not looking forward. To the the reboot of cabaret. Like, that's not a thing I want. To watch.  And ironically, they probably wouldn't allow.  Well, that's the whole point. That's the point of the original one, is it not?  I've never seen it. I'm going to. Be honest with you.  Honestly, I've never seen it either, but the premise makes me mad because I'm like, if you people were in the street instead of like, come to the cab or maybe. Y'all could have done something about this.  We might be being really unduly harsh on characters of cabaret.  Probably more likely.  Please let us know but. I you know, the targeting of trans people and not that drag people drag Queens and kings are trans all the time, you know, but just targeting the because you actually look at the law, it does ban trans people from performing anything. Because it's specific to, I think it says the language is something like performing in the cultural makeup, including dress accessories. You know, style all of that of the a person who's the opposite of the gender you were assigned at birth. So essentially it's not drag, it's it's trans people doing anything in front of other people ever. And that's really scary. That is really scary. You know, it's it's the cliche. At this point, but the reason the reason? It gets said so much is because it's true. It's, you know, they. Came for the communists and and I didn't speak up because I wasn't a communist. They came for the Jews. I didn't speak up. I wasn't a Jew. They came for the Catholics. I I am Catholic. But you know what I'm talking about. And it's just. I just. I don't really. Know what to do with my feelings about it. To be honest. Because, because again, like it's so stupid. Like it's so stupid that you it's almost as if you don't want to take it seriously because they're just so outlandish and buffoonish. But, you know, even, and that's part of that's part of the poison of it. Is that they are so goofy and so hypocritical and so out of control that it almost becomes not real, which I think is something that happened a lot during the Trump administration. So, you know, I don't, I don't know what to do.  So just to get. To get the full scope of this, I'll read this is from cnn.com because you you're saying how bands, all performances and I can't remember. I I'm sure I've read this already, but I just can't remember this specifics. It's like my brain wanted to block them out. So let's see CNN politics by Shawna Mizzell March 2nd. 2023 Tennessee becomes first state in 20, 2020 to restrict drag performances. Republican Governor Bill Lee signed into law Thursday afternoon that will restrict public drug show performances in Tennessee, making his state the first to do so this year. The state Senate passed the bill earlier Thursday, along with party along party lines, to admit adult cabaret performances on public. Again, my cat just moved my mouse public property so as to shield them from the view of children threatening violators with a misdemeanor and repeat offenders with a felony. The bill, which the Tennessee House passed last week, defines an adult cabaret performance as a performance that features topless dancers, go go dancers, exotic dancers, strippers. Male or female impersonators who provide entertainment that appeals to a what is that word? It's not.  Period periods.  That is my new SAT word.  It means up period means basically blue. Like it means it means like you know, I don't know what upsetted he is, but I can't say what asity is.    But I know when I see period.  You all right? That's a wild word. Republicans hold supermajorities in both the House and the Senate. The law will go into effect on July 1st, 2023. Tennessee measure is the first of nearly a dozen such bills presently working their way through the GOP LED state legislatures. Republican state the performances expose children to sexual themes and imagery that are inappropriate, a claim rejected by advocates who say the proposed measures are discriminatory against the LGBT. New community and could violate First Amendment laws. Yeah, I wonder. Yeah, like this feels like something. The ACL, this. This feels like an ACLU slam dunk, but we'll see. But it doesn't matter because it doesn't matter if it gets. Repealed or not? There's already a chilling effect. That's the point. The cruelty is the point not to actually protect children from anything. See as. Blah blah blah blah blah as transgender issues and drag culture are increasingly becoming more mainstream. Such shows, which often feature men dressing as women and exaggerated makeup while singing or entertaining a crowd. Though some shows feature body or content, have occasionally been the target of attacks, and LGBTQ advocates say the bills under consideration add to a heightened state of alarm for the community. Like I said, it's the chilling effect they want. It's the chilling effect. They're going to get. Republicans state Senator Jack Johnson. Who sponsored the Tennessee legislation, told CNN on Thursday that the bill was not meant to target drag performances or transgender. People except you just literally spelled out in the language of the bill what a drag show is. That's that's wild that that is. That is 1987, George.  Orwen. Well, that's how they. Get around the ohh that was all in good fun because of course the. High school. Actually, I should even say, of course, but theoretically, a high school skit is probably not going to have a lot of, like sexual nature. And like a lot of body this, but why am I like I there was a guy. In my high school. He used to show us all his Beatus like frequently. Yeah, this was before me too, but.  And then I fell in love.  Then I reflected on it as an adult and I was like, why didn't any of? The teachers stop that.  Ohh it was like a known. Thing. Ohh yeah.  Yeah, it was a theater thing.  Oh God.  perient shows and it's like, OK. Yeah, maybe they're not doing like old school vaudeville acts, but you know. What are they going to call body? What are they going to call period. I wish they hadn't written that word.  That's that's a wild world, yeah.  That's a wild word, but it's it's like, OK, so if you have a trans comic and they're talking about their dating life and they're talking about their sex life, is that going to be considered something that's too much that's, you know, afoul of the law? You know, it's there's a law. If you are a CIS woman who likes to dress. More masculine and you're in a show. Are they going to consider that to be you are dressing in the some a clothing of a gender other than your assigned birth? You know it's it's just, you know, and and we're we should be used to these things by now because I mean it's it's. I'm not gonna say it started with Trump because it obviously didn't, but it, you know, the last four years they've gotten especially ridiculous with their their language and their and their long. But yeah, it's it's, it is wild.  Our dog's. Being very bad right now. OK. So our little dog is being super bad. All our animals like these animals are smarter than they lead on because they just like, oh, are you trying to do something or are you trying to do a thing that, like, requires some kind of like concentration and quiet? So now it's time for me to get all my big feelings.  Getting rowdy, we're getting rowdy.  They're the worst.  And then Henry just, I don't know. Is this a cat thing? They every time they know they're being bad. And and you start to say. Stop doing that. They stop and start grooming. Like who? Me couldn't possibly be.  Oh my God this. This little cat. I love, I love them, but they are. Awful real bad. They're real bad. Love them, but they're real bad. So yeah, we're talking about how. The United States is kind of becoming a hellscape. Drag is like you cannot be a assigned male at birth and wear a a dress and sing a song in the state of Tennessee anymore. And like I said, the the the really interesting bit is that. Keep reading from the CNN article ahead of the bill signing. Lee the governor faced accusations of hypocrisy after an unidentified Reddit user posted a photo from 1977 high school. His 1977 high school yearbook, which purports to show the future governor dressed in women's clothing and a wig. Alongside female students dressed in men's suits, we had this when I was in high school because I'm old enough and.  No, everybody's high school, everybody.  Ohh y'all had that too. It's power, power, power, whatever.  Everybody's high school. Has the. Oh, no, I was. Just gonna say dude dressed and dressed.  Oh, it's like. Oh, I was gonna say the girls played football and then the guys were cheerleaders or whatever. That's why I assume I saw this picture. It's it. But like that's why I assumed it's from. But no, he like, like I said earlier, he responded to that. Oh, that was that's. But that's different though. Just like you know, normal scumbag behavior. But like you said, you don't know what to do and then I have to repeat what I've said. I've said many a time on this on this show is that you know, we have to embrace the struggle. The struggle is going to go on after we're dead. But take heart, knowing that when they start doing stuff like this. What they have been doing, they're losing. They're like the reactionaries are losing. This is the safest time in human history. A new world? A new.  I just feel like. They've said that in the Vimar Republic too.  World is struggling to be born. No, I don't think so. No, I don't. I know. I I've watched them. To be honest, I've watched documentaries about the Vimar Republic and people were way. I know what you're saying and I I think it's a good analogy, but people were way more apathetic because they had just come off of World War One where Germany took a Big L.  I forgot that and that was. Yeah, that. Was OK. Fair so yeah. OK, that's something. It's not as bad as the vimar public yet, OK?  No, it's not. It's not. But like these are. These are definitely things to be aware of. So when I say like we do live in the safest time in human history, that doesn't mean like people are not gonna. There's not stochastic terrorism. People aren't going to be killed and hurt by these reactionaries, and people's lives aren't going to be ruined. But. And you take a step back and you look at, you know, the macro picture of time. We are winning. We will win. Culture never locks in the conservative the idea of a conservative movement is the idea on its face is dead on arrival because you cannot conserve culture. Culture will change. It's going to change the things that conservatives enjoy now were the, you know. 100 years ago liberal positions and we keep backing them into more and more. Well, we can't come right out and hate. You know queer people, so we've got to do this indie. Around again and. And make up lies about how drag they're all groomers and how drag story hour is is grooming your children.  And let's not get it twisted. This is not specifically, this is obviously about LGBTQ people and and targeting them, but it is not just about targeting LGBTQ people. They're targeting the idea of satirizing a a social norm, a gender, you know, a gender norm is a social construct. And drag is, you know its whole purpose is to satirize, you know, the expression of that social construct. And so. The idea that we're banning that it's like, OK, well, what other social constructs are we not going to be able to talk about? And we're not gonna be able to laugh about and right next. And that's, you know, I like to think anybody listening to this show, you know, cares about the fact that they're targeting LGBTQ people anyway. But I do think that there's a lot of people. Who would be apathetic to the idea of banning a drag show? Because maybe they don't go to them, they're just they don't know what's in a drag flow, but kind of if you're talking to someone like that, it's it's not about the show itself, it's about the satirization of a social norm, and it's about. Not wanting to make fun of things that are are conservative, I mean, you know, you know, typical gender norms are, you know, the gender by an area that's a very conservative idea. And so it's it's about not moving forward with with changing societal ideas and expectations, you know. It's it's they want to go back to the 50s with all of the nonsense and terribleness. And I think that message could possibly, you know, sway some people who maybe are a little bit more apathetic. To drag just because they don't understand.  Not even. Yeah, I wouldn't even say sway them. I would say the apathy is kind of the, you know, in a place like Tennessee, like, let's be real. Like outside of Nashville and maybe Memphis, people are going to be like, say what? Well, that doesn't affect me and I don't care. So I don't. I don't. It sounds great to me. UM. But they're like, just to hammer home the point. There's definitely like two ways to look at it. Like look at this. The one way is when you talk about, you know, mainstream culture that. Western Society is moving backwards. Just in our lifetimes, we've had these are mainstream things. These aren't even. These aren't even. Like fringe things, we've had movies like too Wong Foo. Thanks for everything. RuPaul's Drag Race is like a mainstream thing.  Let's talk about Mrs. Doubtfire's track.  It's a. It's a man in a dress. Right, I know, but. Yeah, it's a crazy. Like, I'm not talking about, like, we're gonna. We're gonna have some kind of a college. You know, we're not going to sit here and and and sit in a classroom and tear Mrs. Doubtfire apart. It's a stupid movie, but the point is it was a movie. People took their kids to see. My parents took me to see and it was about a man. Wearing a dress. Not even doing drag actually like pretending to be a woman for like the worst reasons.  Literally a a man. Wearing a dress. Who is using? Pretending to be a woman to target and harass a woman which is like everything that they're worried about happening now and yet. And yet it was just good old fun.  So you can look at that as Western, as Western culture regressing. I'm choosing and this is from the cynical guy like I am not that glass. Half full guy. I'm the cynical guy for sure, but I look at this as. This is the best they have, like they are drowning in a sea of acceptance and change and they are grasping for any land they can. And this is the best they've come up with. In the long arc of history. This is not. This is gonna look at. This is gonna not even the long. Five years from now, this is going to be on some kind of CNN. Remember the the twenty 20s. And everybody's gonna go, that was.  Honestly, the the fact that most older Republican men know what a drag. Show is at. This point means that drag has truly come into the mainstream.  Thank you.  We actually talking. About this, this weekend is one of our favorite documentaries that we watched when we just started dating was small town gay bar and it was about. A bar in a small southern town that was very tucked away kind of word of mouth. And it was where people in the queer community could congregate. And it was it was, you know, one of the only places where they could. Other queer people, and where they could openly be themselves, and it was a really great documentary, definitely recommend it. But you know, even in smaller towns there is more, you know. People know of a gay person. Now you know back, back when that was filmed, people wouldn't be, wouldn't feel ever able to come out to their families. And while there's still a lot. Of people who don't. Feel able to do that to come out to their families. You know, there are still a lot of people who do, even in conservative town. So we really have moved very far. I really have to keep reminding myself of that just because it is very easy to get down and not to say that you know you're not allowed to have negative feelings about what's going on and not allowed to be sad and grieve. But I know for me if if I start feeling so negatively, it starts to feel like there's nothing I can do, so why try? And so it is very important to to acknowledge our progress and to acknowledge all of the people who made that progress happen and all of the people who are still battling apathy in order to make progress happen now and all. The people all the. Wonderful humans in Tennessee who I know are going to push back on this. Whether it's not going to be the majority of the state. Unfortunately, but I know that there are going to. Be some very fierce, fierce defenders of the queer community, both the community themselves and allies. And honestly, this is a meme I just saw. I'm like, I really am getting old. I go on Facebook, just look at memes now. Like but it said if you if you harass my transgendered buddies my I'm going to start identifying as a problem spicy. Is that the? Only good. I identify joke. Identify as joke.  It's pretty good.  And then there was another one. It was like, hey, if you like you harm the queer community, my pronouns are gonna be your pronouns are gonna be, was, and were. I'm terrible at. I like explaining memes into a podcast. This is truly the most millennial I've ever been in my life.  All right. It's all right, Mama.  But but I just. Yeah, I think humor is appropriate. I think. Do whatever you need to do to feel. To feel the hope that you need to keep moving on in this fight because it is like this is truly scary stuff, and the fact that it's being enacted by the world's. Stupid people is like it's not making me feel good, just the. State of democracy, you.  Yeah, like and again, just realize that you're we are all fighting battles that we've already won. But the battle still has to be fought. Like we have to fight, we have to. Fight these people and tooth and nail. To make sure as. Few people are hurt. By rack, Sherry politics is possible, but realize it's over. Like we we we've already won.  Like culturally, it's over. You know, does this state agree? So we're not fighting the culture anymore. We're we're fighting the state, we're fighting people who?  These conversations I really do. And to put my, you know, kind of conspiratorial hair on these conversations have already been had obviously to put bills like this forward in Republican think tanks in circles because they know they they know it's over. So the only the only hope is is to try to. Is to try to take the minority that they do have and Lord over the majority of what people want through legislation like this. That's that's all they have. That's all they have left. That's why. That's why the Republican Party has to gerrymander districts cause they can't win.  Well, yeah, see, The thing is like the thing. Is that they are gerrymandering, though, so it's we can't just say they, oh, they're not. They're not winning because they have to do XYZ, but it's like OK, they have done XYZ so they could continue to win.  I know. I guess what I'm saying is they're doing that because. They're losing, no.  I understand that, but it's we can't use that as a.    I don't know. That we should use that as a metric just because it's easy to get complacent and, you know, we're looking at a potential Trump de Santis 2024. So I'm not, I'm not like.  Trump's gonna Trump's gonna win. That I don't even think.  You know, they're just they're just. Like they're just literally calling each other pedophiles, and they both like, well, OK, allegedly.  I don't even think this. I don't even think the Saints. I don't even think the. Saints is going to declare.  Allegedly, Trump is a pedophile.  Allegedly. Allegedly.  I'm I'm I. Don't know. I don't know anything about DeSantis, but I wouldn't be surprised if he was a pedophile.  I don't even think De Santis is going. To declare you.  Don't think so.  Did you did you read the other day? So he had De Santis had a rally thing and some? I don't know. In some county, in Florida, and people showed up in Trump gear and he had them physically removed.  Oh, I love that for everybody.  So, uh, what? Like it's over. Like that's it, because now a million people are going to come. To every one of his things.  That is true.  And it's going to look awful.  That is true. So even better, we are looking at.  A Trump, Trump, Trump, Biden.  From Tom Cotton and then Trump is going to mysteriously have a heart attack while eating his seventh Big Mac of the day.  Oh, God, that's just.  And we're going to have a Tom Cotton presidency. So love that for us. Anyway, I'm just a ball of sunshine. I just sometimes I think that I have a pretty balanced about my views of the world and that I'm like, I feel like I'm pretty realistic about things. And then I'll say something so wildly dark and pessimistic that I'm, like, maybe being in crisis domestic violence. And working out of jail for the last eight years has actually. Maybe colored my views on the world more than I anticipated.  Yeah, that'll do it. No, that that will definitely do it. That'll that's that's what the kids call a big downer.  That's a downer.  It's a big Debbie downer.  Yeah, it's an. L It's an L.  Yeah, you're just eating elves.  Eating elves.  Eating them.  Like BFR, that's trauma.  I've never heard that before.  Oh, I can't because it's going. To be it's B. Asleep for real? OK, it's my new favorite Gen.  I just got on period I period a like last week.  I don't know if that's still doing that, but that. Is really funny.  I just got on him. Yeah. So I don't know. I'm old. I'm. I'm not old. I think I'm the oldest person on TikTok.  I can't can't judge. No, there's some much older men and.  It was like.  They have all messaged me. Yeah, I get messages from people named Sugar Daddy M12. So how I don't.  Know on TikTok.  Tick tock.  How you don't even this is the first I've. Heard of this? You even?  Why don't you ask China? I don't know.  You don't even have like content.  No, I do. I do have a couple of things. I've been tagged in. Because my friend, my high school friend likes to make tick tocks when we get together in the summer.    So I have like 3 tick tocks I'm tagged in, they have like 5 views apiece. Apparently one of those 5 views was Sugar Daddy Mike. And he liked what he saw. And he would like to support my lifestyle.  I was gonna say, what are they talking about in the PG13 version?  They said you're so beautiful. I would like to get to know. You yeah. And they usually put like a dollar sign.  It ain't trickin if you got it.  They don't got it so. That's that's the. Thing, that's the thing. There's, like, established routes to go. If you want an actual sugar daddy or sugar baby. And it's not TikTok, but certainly not.  My God. What is doing? What is going on?  Cause like I'm not above letting a generous older gentleman fund my lifestyle, but that gentleman is not going to.  Right.  Find me via TikTok.  That's rough. This is for this is. Ooh, you learn something new every day. Good morning, comrade.  So if you thought my voice was hot. The rest of you is hot. Too hot enough that.  Yeah, I I would agree.  No, it's probably a Nigerian scammer.  That's like a reverse scam? How does that work?  Because they'll say.  I want to send you this is because this is another message I've gotten. They want to send you a check for $500.00 for you to go get your nails done and a massage. And then. But they have to do it via. Vanilla card.  Yeah, of course.  What are?  Because that's how everybody.  Those those prepaid spending cards.  That's how everybody transfers money. In 2023.  So either you're gonna get scanned of money, or you're gonna help someone launder money. So either way, no thank you.  Dang, tick talking wild.  So it did that did check my ego a little bit. I'm not going to lie to you. I was like, oh, this isn't actually a generous older man wanting to fund my lifestyle because my beauty is just so overwhelming. It is a person who thinks I might be dumb.  You could be on, like, 90 day fiance. You could be that Lady.  Oh, I would be so good on that show.  Just be like meeting some guy from the. Dr. the. Dominican Republic and be like, oh, he totally loves me. Now for the good. We've do station ID's, we listen to one of 2.3 W HIV. FM New Orleans and we love you.  And all wars.  That was end all wars. Oh, that was the wtix thing. And we love you, which is very creepy. Yeah, if you're driving.  Hey, sorry. They're just trying to spread. A little love in the world.  I know, but drive if you're driving through the east at like. 2:00 AM and it's just listening to the oldies and then it's WTX New Orleans and we love it's. And there's just a a pile of burning tires and it just looks like. Bartertown on the.  You sound like you live in Metairie.  No, because they would never. They cause I think bartertown's cool for Mad Max beyond Thunderdome.  So that was actually a compliment.  I'm cool.  Yeah, he's like, no, that was a good thing.  I'm cool with that.  But what is your good?  OK, so I got a letter in the mail and I'm going to read it to you. And you hear.  This is the official letter.  Hear the paper crumple. It's like this is an official show. Dear Robert Johnson, we are sending you. We are sending you this letter to share the good news that on behalf of a national donor, you no longer owe the above referenced medical debts. It was almost $1200. To auctioneer. Because of our national 5013 C nonprofit, RIP Medical debt bought and abolished the debt. This active medical debt relief was provided by. Li can't Al Ed Allendale. I'm going to go with Allendale, a public. What's that?  And then I think that's beer.  Nah, it says a public benefit corporation. I mean, beer is a public benefit. I mean, what? What is that now? You got me interested. Now you got me interested. What is the ale?  What is it lol?  Yeah, let's take a look. Value based care. Else what is this? It's like a primary care.  It's. Oh God.  I don't know. It's the position LED accountable care organization. What is that, Aaron, you are.  With primary care for primary care, you know what this is going to be, someone that I'm going to have to work with at some point and I'm going to be annoyed about it more than.    Likely, but honestly, we're why are we trashing them?  I bet.  They bought.  Your medical debt. Yeah, I know. So I don't know.  Just don't look.  I just. I'm not. I don't even know them too.  I'm sorry. That was just like.  I'm just like I was.  Corporate speak like that, just like truly triggers me to. Before I became. A social worker. So. It just really. I just assumed nothing good will come of it.  So we're we're we're on all Dale to learn more, please visit alladale.com/louisiana. Our abolishment of this medical debt is a no strings attached gift. You no longer have any obligation to pay this debt to anyone at any future time because it has been cancelled as a gift of our 5013 C charity. You do not earn any income or owe any taxes on this cancellation of. Debt, we have enclosed FAQ.  Blah blah blah.  Blah blah. Here's the FAQ. Of what happened here? I think the FAQ is very who is RIP medical debt? We are a nonprofit national charity. That fund that raises funds from donors and uses those funds to acquire and abolish medical debt. Our IRS number is blah blah blah blah blah our. Since our founding in 2014, as medical Debt Resolution Inc, we have abolished over 8.5 million of medical debt. Helping nearly 5.5 million people. Are there strings attached? No rest assured, the debt reference in the letter is no longer owed and you do not have to take any action. Why are you doing this? Probably the most important part. Medical debt often results from unplanned, unexpected illness and accidents. About 1/3 of US adults have difficulty covering unexpected mental health care bills. Medical debt also is the leading cause of bankruptcy in the US in many areas and for many reasons. Patient balances after insurance have been growing and many people remain uninsured. We are doing this to relieve. People of the burden of medical debt to enhance their economic opportunities and to enable them to leave to lead healthier, happier lives. Now paper crumple. Again, this is my rush, Landon. He always. Paper I used to hate. Listen to. Rush Limbaugh all the time.  Why did you listen to Rush Limbaugh?  I hate. I used to hate listen anytime like.  Oh, I thought you said hated listening. To it's like you did someone make you?  No, I would listen to him anytime. Something like when Obama like, won twice like I was like Rush Limbaugh. Let's go. Yeah, because you know, he's gonna lose. His mind. Yeah, you know, so it's like stuff like that, but. OK, so my first thought is since you were talking about Sugar Daddy scams, I was like, this is obviously a scam. What is this? So I did a little deep digging and no, it is not a scam. It's 100% real. It was started by two guys who were actually. Debt collectors, they they were executives at some like debt collecting thing. On Wall Street, across from Zuccotti Park, Occupy Wall Street happened. They go down there and just hang out and be like what's going on. And then they find they people found out who they were. And then they're like, hey, we've got an idea. And they started this, like, rolling jubilee of really of buying people's medical debt. And then we're leaving it. And honestly. OK so my thing is this. That that thousand, that $1000, almost 1200 bucks was from a CPAP machine that I own. I paid the what do you call it? The copay or? Whatever. So I paid the copay which was $500.00 off of my and I I have a good job. I have insurance. Thank God all these things like. I'm an atheist, but I thank God every day that I've I've made it to this point in my life where I, you know, I have these things, but. It's absurd because Aaron can testify. My snoring has been so loud since I was 20 and I would stop breathing at night and wake up in the middle of the night and I could pass out anywhere because I was so tired all the time and. I was just dying, you know, like. And she made me. She's like you have to go get this checked out. They're like you have sleep apnea. You could die at any moment. So, and we have to run a bunch of tests and then then you have to pay $2000.00 for a machine that's going to keep you alive and make sure you don't stop breathing in the. Middle of night. Which seems like. It's not even seen. Let let let me scratch seem out of there that it's the most perverse, disgusting, sick thing ever. When you tell someone you know as a doctor, you're telling somebody how important a piece of equipment is and how, Oh my God, thank God we got to you when you did and. By the way, we need 2K before this that we can give you this thing that's so in. And it's I paid for the $500.00 copay and I was like, gotcha. I was like, gotcha auctioneer because you're never seeing the rest of this. I'm like, you're not. They would send me bills and I would just throw them in the garbage cause I'm like, no, I'm not. I'm not paying. For this like this is crazy.  I have. I just gotta build just because it was been a few months ago now, but I got a bill for like $1200 when I got a new IUD and I was like, I thought this was covered under the ACA, and sure the actual IUD was covered, but not the removal of my previous IUD. And I said, well, I'm just not paying that.  Get out of here.  So you know, it's not not paying it.  I'm. I'm sitting here at work and I'm like researching. I'm researching this 5013 C and for a guy like me, who I've Erin, can attest. I've literally said, you know, the words have come out of my mouth. I don't have emotions. I started to tear up, and it wasn't because. Like, I wasn't gonna pay. That actually was never gonna see that money. Bill collectors were never gonna see. I wasn't gonna pay it. I wasn't worried about. It but. It got me to think about all the people who were just crushed. Lives ruined, completely bankrupt because they have, you know, they've got a long term cancer, somebody in their family needs, you know, long term care and they're just crushed under medical debt that they're and that they've been helped by this and. Literally have their life change by this, like rolling jubilee of people like ourselves who give money to this organization that buys up people's debts for pennies on the dollar and just. Tears them up.  Also I want to I want to say sorry to all jail because I was very snarky to you and I just looked up what you do and. A good job.  We're just making all the friends out of here.  I, but I do really think you should change some of the wording on your website because you sound like an insurance. But they're actually what's called an accountability management. It's here, it's it's an accountable care organization. So what that is is essentially they function. So basically how this insurance companies pressure doctors and like other medical places to. To do the most inexpensive things possible, and and that's a really terrible thing cuz it comes at the cost of patient care, accountable management organizations. Are they essential? Are advocating for the consumers, so it's generally and it's generally for. If you start want to start an independent private practice. Usually it's really, really hard because you have to have relationships with those insurance, so you'll send like it's just really difficult. So if you do end up wanting to do that, you can enjoin in accountable management. Organization and they'll help you hook you up and figure out how to give the best care for clients. It gets rid of a lot of Medicare waste, a lot of Medicaid waste, which is often. The for profit insurance companies are doing and it's just it's a good thing. So sorry everybody.  Nice, but like I was telling Aaron as a joke. Like, yeah, I'm an atheist. Like, I don't believe in a buy and buy. But I was like if somebody was to knock on my door and proselytize to me right now, like, this is this would be the time I'm most open to it because I just kept thinking in my head up, just like a God of the Old Testament. It's like I sent you, Bernie Sanders. I sent you another. I sent you another Jewish prophet. That you refuse to listen to. So now I've got to work around this.  Which I think is so dramatic. But like when he said that the other day I was like, OK, I know we're, we're both sad about Bernie losing, but let's not.  Oh, it's fine. I'm. It's fine but. No, it's just that something like this exists, and this has been existing for, you know, decades now or decade, decades, almost since Occupy is amazing and it just it's perverse that it has to exist, that it does exist and it's and it shows how badly we need. Medicare for all, like yesterday for because. The way I describe it to people who are like, oh, I don't want that, you know, they're going. It's like we're getting taxed as American citizens out the wazoo right now. And we're receiving little. To know return our social services are inept at being the most, the most generous assessment is they're inept. So if we're going to be taxed, if you know if they're going to take money out of my check, like, let me get some of that back. So I don't have to worry about can I cough up. 2 racks. To make sure I don't die in the middle. Right. It just, it just feels like in the richest country to ever exist. This is a perverse situation.  And this was actually the same, same organization that was featured on John Oliver, if you remember, I think that was a few years ago, they did this.  Yeah, it was like 3 or 4.  They yeah, they they did this. And John Oliver, the show donated a bunch of money, bought a bunch of debt and forgave it all and. I think part of, I mean he's he's he seems like a good egg, but I think he was especially upset about the idea of medical debt just coming from the NHS in England. He is British. If you don't know who John Oliver is in England does have, you know, a government run National Health care system.  Which is actually socialized medicine, like Medicare for all like. It's not even that. It's not even the NHS. So I'm just saying this. I'm interrupting this. So if anybody, you know, cause you've got that next level of reactionary who who knows a little something. So if they ever try to come at you with like, oh, the NHS is in shambles or the NHS, you know doesn't work, right, well, the NHS is not Medicare for all. We're not talking about an act like auction or Turo. Being run by the government, it's just the government. I mean, it's just auction or Turo. Your local doctor sends that check. Bill to Uncle Sam to to dark Brandon instead of you. That's the only difference.  They're already doing for people who are on Medicaid. And so it's not like a new model, it would just be including more people in the model that already exists.  The best, the best healthcare I ever and I have. You know, I have decent insurance now through my employer, which is an all another a just atrocity. It's it's surreal. It's 1984, George Orwin. That we that we even have. The best health insurance I ever got. Was through Medicaid like when I when I I didn't have a job. Until I got another one I got on. Absolutely the best insurance I've ever.  Had you know?  Like the my prescriptions were doggone near free. I well, I started seeing a therapist then because I didn't have to pay a copay. It was it like Medicaid, literally I, I mean this might be a little too. It was definitely life changing. It could have even.  Saved my life. I would agree with that. And just to just to as an example of how petty insurance companies are, I had a client who had disability. I think it was like $1100 and he made just too much with this ability that he didn't also qualify for Medicaid. So he had Medicare, but not Medicaid, so he still had to had to co-pay for prescriptions. And he also had a pretty serious drug addiction and so didn't generally have a lot of money at the end of. Month and would just like not be able to afford his $4 heart medication. And so like, I would just end up buying them a lot of times like what am I gonna do?  $4 dude.  Have him have a heart attack cuz he couldn't pay for four $4.00, but it's like and I think he was. Covered by like United. Or something. So it's like it's so absurd. It's like. They're just nickel and diming the poorest people and.  Yeah. So that's why I want to, you know, yeah, no, 100%. So that's funny. You say that about United?  Preaching the choir. But my God, it's bad.  So I here in new here in New Orleans, I had united is in Louisiana, United is the one that does our Medicaid.  So there's actually multiple Medicaid providers. So there's United Healthcare, there's healthy blue, there's Louisiana healthcare connections, Aetna and Humana.    So we have five different providers that. So basically, all of the Medicaid money gets funneled into those into those insurance companies, and they have a specific plan for Medicaid. And if you are on Medicaid, I believe you're allowed to change providers once a year. And if you're on Medicare, I believe you can change once 1/4.  So I had united Medicaid, so I didn't know that was a thing. So I got a job working for the city, and now I also united, does the insurance for the city so. The thing is, when I will call for a specialist and I'll call a specialist and they'll be like what insurance do you have? And I'll I'll say united and immediately they'll be like, well, we don't and I'll be like, I work for the City of New Orleans, and you can hear their tone change and they go. OK. Because they're so ready to be like, Nope, no, not doing Medicaid, but it's and. And I'm. I want to be like. You dirty dog like. The Medicaid that you're pooling is was better than the insurance.  And the reason so the.  I have now.  Reason why they don't want because it's like. OK, insurance is insurance is insurance and it's because the government refuses to pay some of the prices that the insurance companies will pay. And it's if you've ever gotten a hospital bill where they charged you $500.00 for two aspirin, which is real and not uncommon, the government just says no.  Yeah, that happens every day that happening random.  So that's the reason why these insurance companies.  That's awesome.  Because, like why they don't? Why they're lobbying against. A Medicaid, because you would, you would think, OK, if everybody has insurance that's more clients for these insurance companies, but they don't want that because they it it's less profit for them and the hospitals don't want that because hospitals are generally not nonprofits, we're lucky in.  Plus profit.  In this state that you know, or at least in New Orleans, that most of the hospitals around here are nonprofits, but. You know that's not the case in a lot of places in the country. And so the hospital, hospital administrators don't want, I almost said hospital staff. And I'm like, no those nurses. They would give you. That aspirin for free, if they could. But the hospital administration want to be able to charge, you know, whatever, and part of that is because they have to pay such high salaries. To the doctors because the doctors all have like $400,000 in education, debt and so on and so forth. And so you. A lot like as we were talking about earlier in the show, like part of the reason why a solution like Medicaid for all or Medicare for all is so abhorrent to so many people is because it's going to, it's going to be like. The first domino and a domino effect of showing how inflated so many costs are and how few people are benefiting from that money.  Yes, yes. And that's why that's why they fought so hard against Obamacare, which was just Romneycare, because once you get that wedge. In there it goes back to this all loops back to their previous conversation. Once you get that wedge in there and you show people no, this is how things should.  Be yeah. So for instance, if you have Medicaid, at least in Louisiana, they'll pay for your cancer treatment like they'll pay for your cancer treatment.  Then you know there's no. Going back, you know, watching window.  There's not gonna. There's not a question if you're gonna. Get chemo or not? But private insurance companies, if you meet your maximum benefit amount. She might not get. Chemo so it's. Like the hospitals, wanna keep charging insane prices? The insurance companies want to still make that profit, but part of the way they make that profit is by being able to deny you from certain procedures. Like there's zero reason why your CPAP had to cost $1500.  That's insane. That's absolutely insane.  Yeah, like, I actually just go sleep at myself because we're both old and can't breathe properly. If you are wondering why I sound a little more chipper cuz I'm actually sleeping like fantastic, highly recommend. And I'm I went through and this is this is honestly like, so dystopian. I went through a startup, an Internet startup, to get my CPAP.  That's so gross.  I logged, I said how to get, cuz I tried to sign up for a sleep, study through oschner and the first available appointment wasn't until April and this was back in. Back in November of last year, I was going to just have to wait, but it was getting so bad that I was forgetting English like I just could not remember words my cognition.  And what's one of the main things about they tell you about, oh, we can't do socialized medicine cause there's gonna be waitlists.  Show that.  I have insurance through my employer. Now you're telling me I am going to die. But can you just please not do it for like 4 months till we can?  Get you in? Yeah, yeah. So I have a private insurance as well and I was content to just wait, but yeah, like I said it was. It was getting bad. So I I googled how sleep studies New Orleans and app came up. I basically filled out a survey. They got me connected with a Doctor Who was like, yeah, you should probably get a sleep study. They ordered the sleep study. They mailed it to me. I wore it at night. Transmitted all the data via the app and then they were like, yeah, you're like not breathing. Apparently I was getting 6% of the REM sleep.  I was supposed to.  Get and sleep. So basically REM sleep is where you repair your cognition, so that's where you kind of like sort and process all the information you got during the day and then deep sleep is where your body. The parents itself. So I was getting enough deep sleep, but I wasn't getting any REM. And for you know, people who don't know that much about insomnia. Basically, when you have insomnia, your body goes from light sleep where are not really. It's kind of like that period before you get to the other part. You go from light sleep to deep sleep because your body is in survival mode. You need your body more than your smarts in order to survive. So it goes to. You repair your body, so you might not wake up feeling sick, but you're not. Be able to remember anything like I was at work just like it was. It was perfect. It was affecting my job. Performance honestly, which is why I looked for the sleep study and yeah, so they sent me the device, got it back. I have it. I'm paying. I financed my CPAP. So yeah, we're doing great as a society, but it's. So yeah, so. It's just like. You should be listening to good morning, comrades. If you're not pro single payer healthcare, but.  Yeah, absolutely. But we're running out of time, but I I invite everybody to check out ripmedicaldebt.org, see what they're about. Just on their web page, big splash screen just. I'll just read it to you just as it says, abolish medical debt at pennies on the dollar every $100 you donate relieves $10,000 in medical debt. Who I mean. The amount of people that that, this, that this nonprofit is helping. In this six sad world is. I I really can't understate how awesome they are, so thank you for helping me. And we'll see you guys next time I love. You, babe. I cut it off. You're not on there. You can't. Tell me you love me back.    But anyway, yeah. But So what? They're giving themselves cover to be able to say, well, no, we're not anti trans. Are you saying that all trans people are going to be having body shows are going to be having  

Thirty years ago today, the very first exchange-traded fund started trading on the American Stock Exchange. At the time, Bill Clinton had just moved into the White House and America was trying on a new role as the world's lone superpower. On Wall Street, an entire industry soon realized that the ETF was a revolution all its own. Today, there are more than 3,000 ETFs listed in the US,  plus another 6,000 international ones, and together they hold $6.8 trillion in assets. In “The ETF Story,” a special six-episode series originally published five years ago, Eric and Joel explore the origins of the first ETF and how it's come to dominate investing. Among those interviewed are Jack Bogle, Kathleen Moriarty, Bob Toll, Howard Kramer, Rob Arnott, Dave Ritter, Reggie Browne, Dave Nadig, John O'Brien, Bruce Bond and more. Here's episode 1. On Monday Oct. 19, 1987, the stock market fell 23 percent, the worst day ever for stocks two times over. It was in the aftermath of that crash that the idea for exchange-traded funds was born. And it came from a very unlikely place: the U.S. Securities and Exchange Commission. See omnystudio.com/listener for privacy information.

The 10-year JGB breaks the BoJ's ceiling for a second day while the yen surges. The central bank is now under pressure to begin tightening monetary policy. The IMF has a dire warning ahead of this year's World Economic Forum meeting in Davos, predicting that economic fragmentation could cause global GDP to fall by up to 7 per cent. On Wall Street, U.S. banks post a mixed set of Q4 results amid increased provisioning and downturn concerns. Bank of America CEO Brian Moynihan says 2023 will see likely see a ‘mild recession' in early to mid-2023. Credit Suisse is reportedly to slash 10 per cent of its investment banking staff as part of its next wave of restructuring. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Global stocks rallied on Friday for a second day on hopes cooler U.S. inflation would lead to less aggressive interest rate hikes by the Federal Reserve, an outlook that pushed the dollar to its biggest two-day drop in 13 years. On Wall Street, stocks rose to add to the prior day’s biggest daily percentage gains … Continue reading "Hope Springs Eternal (Minus Crypto) For Now… [Podcast]"

This is Garrison Hardie with your CrossPolitic Daily Newsbrief for Thursday, November 3rd, 2022. Good to be back with you all, let’s get right into the news! https://www.cnbc.com/2022/11/02/fed-hikes-by-another-three-quarters-of-a-point-taking-rates-to-the-highest-level-since-january-2008.html Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008. The move continued the most aggressive pace of monetary policy tightening since the early 1980s, the last time inflation ran this high. Along with anticipating the rate hike, markets also had been looking for language indicating that this could be the last 0.75-point, or 75 basis point, move. The new statement hinted at that policy change, saying when determining future hikes, the Fed “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.” Economists are hoping this is the much talked about “step-down” in policy that could see a rate increase of half a point at the December meeting and then a few smaller hikes in 2023. This week’s statement also expanded on previous language simply declaring that “ongoing increases in the target range will be appropriate.“ The new language read, “The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.” Stocks initially rose following the announcement, but turned negative during Chairman Jerome Powell’s news conference as the market tried to gauge whether the Fed thinks it can implement a less restrictive policy that would include a slower pace of rate hikes to achieve its inflation goals. On balance, Powell dismissed the idea that the Fed may be pausing soon though he said he expects a discussion at the next meeting or two about slowing the pace of tightening. He also reiterated that it may take resolve and patience to get inflation down. The rate increase comes as recent inflation readings show prices remain near 40-year highs. A historically tight jobs market in which there are nearly two openings for every unemployed worker is pushing up wages, a trend the Fed is seeking to head off as it tightens money supply. Concerns are rising that the Fed, in its efforts to bring down the cost of living, also will pull the economy into recession. Powell has said he still sees a path to a “soft landing” in which there is not a severe contraction, but the U.S. economy this year has shown virtually no growth even as the full impact from the rate hikes has yet to kick in. At the same time, the Fed’s preferred inflation measure showed the cost of living rose 6.2% in September from a year ago – 5.1% even excluding food and energy costs. GDP declined in both the first and second quarters, meeting a common definition of recession, though it rebounded to 2.6% in the third quarter largely because of an unusual rise in exports. At the same time, housing demand has plunged as 30-year mortgage rates have soared past 7% in recent days. On Wall Street, markets have been rallying in anticipation that the Fed soon might start to ease back as worries grow over the longer-term impact of higher rates. The Dow Jones Industrial Average has gained more than 13% over the past month, in part because of an earnings season that wasn’t as bad as feared but also due to growing hopes for a recalibration of Fed policy. Treasury yields also have come off their highest levels since the early days of the financial crisis, though they remain elevated. The benchmark 10-year note most recently was around 4.09%. There is little if any expectation that the rate hikes will halt anytime soon, so the anticipation is just for a slower pace. Futures traders are pricing a near coin-flip chance of a half-point increase in December, against another three-quarter point move. https://thepostmillennial.com/bidens-cdc-replaces-word-woman-with-pregnant-person-in-flu-vaccine-guidance?utm_campaign=64487 Biden's CDC replaces word 'woman' with 'pregnant person' in flu vaccine guidance The US Centers for Disease Control (CDC) has removed the word woman from sections of its safety guidance on flu vaccines during pregnancy. According to the Daily Mail, gendered terms such as woman, women, mother and she/her pronouns were all erased from the Q & A section of the Flu Vaccine Safety and Pregnancy page in August of last year. The words were replaced with gender-neutral language such as “pregnant people” and the gender-neutral pronoun “their.” However, the words woman and mother still appear in other sections of the CDC website, such as the Vaccines During Pregnancy FAQ page. “Influenza is more likely to cause severe illness in pregnant people,” says the CDC. “Flu shots given during pregnancy help protect the ‘pregnant parent’ and the baby from flu.” Those advocating for the use of gender-neutral language in the healthcare setting argue that the intention is to ensure that everyone feels included. So for example because a tiny number of females who identify as men may become pregnant, the word woman should be removed from maternity care to include them. But feminist campaigners have suggested that the so-called inclusive language only appears to go one way. Ovarian cancer apparently now affects “people” not women, but prostate cancer still affects men. Healthline referred to “men” and “vulva-owners” last year on its HPV information pages. Meanwhile, MedicineNet.com kept the definition of male as “the sex that produces spermatozoa” but redefined female as being a complicated mix of chromosomal anomalies and gender identity. This has led some to speculate that this new inclusive language is not so much about being inclusive of everybody and more about ensuring that the word woman is never used in a way that excludes males who identify as women, while at the same time not reminding those males of their biology. New Saint Andrews: Today’s culture shifts like sand. But New Saint Andrews College is established on Christ, the immovable rock. It is a premier institution that forges evangelical leaders who don’t fear or hate the world. Guided by God’s Word, they take the world back because they’re equipped with the genius of classical liberal arts and God-honoring wisdom, thanks to a faculty dedicated to academic rigor and to God’s kingdom.Find out more, at nsa.edu/ https://justthenews.com/nation/economy/facebook-stock-down-70-down-800-billion-market-cap-year-nears-end Investors reportedly disgruntled as Facebook stock down 70%, company out $800 billion in market cap Investors in Facebook parent company Meta are reportedly growing dissatisfied with the company's fixation on the "metaverse" as the corporations' stock continues to plunge and its market capitalization continues a long slide. The company has seen its stock plummet throughout 2022, shedding more than 70% of its value from the start of the year as it fell from over $330 per share in January to nearly $90 per share this week. The company's market cap has also plunged from its high last year, dropping from just over $1 trillion in August of 2021 to under $250 billion in November. Investors, meanwhile, are reported to be unhappy with the company's business direction, specifically founder Mark Zuckerberg's fixation on the virtual reality "metaverse," a project that has generated relatively little excitement outside of esoteric tech circles. Jim Tierney, an investment officer for Meta shareholder AllianceBernstein, told the Financial Times that, had any other company plowed so much money into a strategically dubious project, "you’d have activist investors writing letters, proposing alternative slates of directors, demanding change." David Older, an asset manager at Carmignac, claimed that Zuckerberg has been "tone-deaf to the investment community, doubling down on everything." “The timeline for the metaverse is very stretched. I don’t think you’re going to know if it is the right move for five or 10 years," he told FT. Meta, meanwhile, told FT that the company "value[s] the opinions of our investors and regularly engage with them to ensure we’re aware of their respective perspectives.” https://www.foxnews.com/us/kansas-woman-helmed-female-isis-battalion-sentenced-20-years-prison Kansas woman who helmed female ISIS battalion sentenced to 20 years in prison Allison Fluke-Ekren, a 42-year-old woman who grew up on a farm in Overbrook, Kansas, was sentenced to two decades in prison on Tuesday for leading the Khatiba Nusaybah, an all-female ISIS battalion in Raqqa, Syria. Fluke-Ekren's own children asked the judge to hand down the maximum sentence, 20 years, during victim impact statements at the hearing. Fluke-Ekren tearfully spoke to the judge before her sentencing. "I deeply regret my choices, but I also deeply sympathize with women abused and raped in Syria." In a plea deal made with the government, Fluke-Ekren admitted she translated and analyzed documents taken from the U.S. Consulate in Benghazi, Libya, after the terrorist attack on the facility in 2012. She tried to explain to the court some of her actions during the seven years she spent in Syria. "I was afraid of my conduct in Benghazi. I just didn’t see a way out." Fluke-Ekren also stressed that for most of her time in Syria, she had been just a mother, caring for her several children as well as other children and their mothers. Federal Judge Leonie Brinkema said she did not find Fluke-Ekren’s claims "wholly credible," saying she had "downplayed the impact" of her role in the Benghazi attack. The judge continued, "There’s no question you were providing material support for a terrorist organization," and emphasized several times during the hearing that was the crime for which Fluke-Ekren would be sentenced. Earlier in the sentencing hearing, two of Fluke-Ekren’s adult children gave emotional statements against their mother. Layla Ekren was visibly trembling in court for nearly an hour before she got her chance to tell Brinkema that her mother abused her as a child. She told the court about one instance in Syria when the family had lice, and her mother held her down on the ground and poured the medicine on her eyes in an apparent attempt to blind her. First Assistant U.S. Attorney Raj Parekh laid out the allegations against Fluke-Ekren in a sentencing memo, writing that she urged a woman to commit a suicide bombing and told others that her oldest son was born after she was raped by an American soldier as a way to gain favor with other terrorists. https://justthenews.com/world/middle-east/united-nations-orders-israel-get-rid-nuclear-weapons United Nations calls on Israel to get rid of nuclear weapons The United Nations General Assembly has passed a resolution calling on Israel to dispose of all of its alleged nuclear weapons and to put its nuclear sites under the jurisdiction of the International Atomic Energy Agency. The resolution, led by the UN's First Committee, which deals with nuclear disarmament, passed 152-5 over the weekend. Egypt submitted the resolution to the General Assembly in New York with sponsors including the Palestinian Authority and 19 countries including Morocco and the United Arab Emirates, the Jerusalem Post reported. The five countries that opposed the resolution were Canada, Israel, Micronesia, Palau and the United States. Twenty-four countries including European Union members, abstained from the vote. Israel has never admitted to having nuclear weapons but is widely believed to have them. Israel is one of the few U.N. member states that has not signed the Non-Proliferation of Nuclear Weapons Treaty. Iran is a signatory on the treaty, but international authorities believe that Tehran may already possess nuclear weapons. The resolution, on the "risk of nuclear proliferation in the Middle East," did not include Iran. The resolution calls on Israel "to accede to the Treaty without further delay, not to develop, produce, test or otherwise acquire nuclear weapons, to renounce possession of nuclear weapons and to place all its unsafe guarded nuclear facilities under the full scope of Agency safeguards as an important confidence-building measure among all States of the region and as a step toward enhancing peace and security." https://news.yahoo.com/dwyane-wades-ex-wife-fears-175220499.html Dwyane Wade's Ex-Wife Fears He's 'Pressuring' Zaya Into Name And Gender Change For Financial Gain Dwyane Wade’s ex-wife, Siohvaughn Funches-Wade, the star’s first wife and mother of his two oldest children, filed paperwork this week asking a judge to postpone their daughter Zaya’s sex change until she’s 18. In Funches-Wade plea to the judge, she claims the NBA star is exploiting their daughter for financial income. According to The Blast, Funches-Wade has sentiments about Zaya being pressured into the permanent change by Dwayne. “I have concerns that (Dwyane) may be pressuring our child to move forward with the name and gender change in order to capitalize on the financial opportunities that he has received from companies,” she said in her legal filing. The filing was in response to an August petition by Dwayne asking permission for Zaya to legally change her name from Zion Malachi Airamis Wade to Zaya Malachi Airamis Wade. Zaya came out as transgender in 2020 at the age of 12. Dwayne’s argument concerning his ex-wife’s petition was acknowledging that he is the legal guardian of their children and has the legal right to make decisions on his daughter’s behalf. Funch-Wade says during a conversation in April, Dwayne told her “a lot of money had been already made, and that additional money will be made in relation to our child’s name and gender issue.” Funch-Wade alleges her ex-husband only informs her of their children’s life choices out of ‘courtesy’ but states she wants to be hands-on in all decisions affecting the children. She also claims he is legally required to consult her on “major decisions affecting care, welfare, activities, health, education and religious upbringing.” Funch-Wade and Dwayne will have a hearing in December to determine whether Zaya can change her name and sex without her agreement.

This is Garrison Hardie with your CrossPolitic Daily Newsbrief for Thursday, November 3rd, 2022. Good to be back with you all, let’s get right into the news! https://www.cnbc.com/2022/11/02/fed-hikes-by-another-three-quarters-of-a-point-taking-rates-to-the-highest-level-since-january-2008.html Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008. The move continued the most aggressive pace of monetary policy tightening since the early 1980s, the last time inflation ran this high. Along with anticipating the rate hike, markets also had been looking for language indicating that this could be the last 0.75-point, or 75 basis point, move. The new statement hinted at that policy change, saying when determining future hikes, the Fed “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.” Economists are hoping this is the much talked about “step-down” in policy that could see a rate increase of half a point at the December meeting and then a few smaller hikes in 2023. This week’s statement also expanded on previous language simply declaring that “ongoing increases in the target range will be appropriate.“ The new language read, “The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.” Stocks initially rose following the announcement, but turned negative during Chairman Jerome Powell’s news conference as the market tried to gauge whether the Fed thinks it can implement a less restrictive policy that would include a slower pace of rate hikes to achieve its inflation goals. On balance, Powell dismissed the idea that the Fed may be pausing soon though he said he expects a discussion at the next meeting or two about slowing the pace of tightening. He also reiterated that it may take resolve and patience to get inflation down. The rate increase comes as recent inflation readings show prices remain near 40-year highs. A historically tight jobs market in which there are nearly two openings for every unemployed worker is pushing up wages, a trend the Fed is seeking to head off as it tightens money supply. Concerns are rising that the Fed, in its efforts to bring down the cost of living, also will pull the economy into recession. Powell has said he still sees a path to a “soft landing” in which there is not a severe contraction, but the U.S. economy this year has shown virtually no growth even as the full impact from the rate hikes has yet to kick in. At the same time, the Fed’s preferred inflation measure showed the cost of living rose 6.2% in September from a year ago – 5.1% even excluding food and energy costs. GDP declined in both the first and second quarters, meeting a common definition of recession, though it rebounded to 2.6% in the third quarter largely because of an unusual rise in exports. At the same time, housing demand has plunged as 30-year mortgage rates have soared past 7% in recent days. On Wall Street, markets have been rallying in anticipation that the Fed soon might start to ease back as worries grow over the longer-term impact of higher rates. The Dow Jones Industrial Average has gained more than 13% over the past month, in part because of an earnings season that wasn’t as bad as feared but also due to growing hopes for a recalibration of Fed policy. Treasury yields also have come off their highest levels since the early days of the financial crisis, though they remain elevated. The benchmark 10-year note most recently was around 4.09%. There is little if any expectation that the rate hikes will halt anytime soon, so the anticipation is just for a slower pace. Futures traders are pricing a near coin-flip chance of a half-point increase in December, against another three-quarter point move. https://thepostmillennial.com/bidens-cdc-replaces-word-woman-with-pregnant-person-in-flu-vaccine-guidance?utm_campaign=64487 Biden's CDC replaces word 'woman' with 'pregnant person' in flu vaccine guidance The US Centers for Disease Control (CDC) has removed the word woman from sections of its safety guidance on flu vaccines during pregnancy. According to the Daily Mail, gendered terms such as woman, women, mother and she/her pronouns were all erased from the Q & A section of the Flu Vaccine Safety and Pregnancy page in August of last year. The words were replaced with gender-neutral language such as “pregnant people” and the gender-neutral pronoun “their.” However, the words woman and mother still appear in other sections of the CDC website, such as the Vaccines During Pregnancy FAQ page. “Influenza is more likely to cause severe illness in pregnant people,” says the CDC. “Flu shots given during pregnancy help protect the ‘pregnant parent’ and the baby from flu.” Those advocating for the use of gender-neutral language in the healthcare setting argue that the intention is to ensure that everyone feels included. So for example because a tiny number of females who identify as men may become pregnant, the word woman should be removed from maternity care to include them. But feminist campaigners have suggested that the so-called inclusive language only appears to go one way. Ovarian cancer apparently now affects “people” not women, but prostate cancer still affects men. Healthline referred to “men” and “vulva-owners” last year on its HPV information pages. Meanwhile, MedicineNet.com kept the definition of male as “the sex that produces spermatozoa” but redefined female as being a complicated mix of chromosomal anomalies and gender identity. This has led some to speculate that this new inclusive language is not so much about being inclusive of everybody and more about ensuring that the word woman is never used in a way that excludes males who identify as women, while at the same time not reminding those males of their biology. New Saint Andrews: Today’s culture shifts like sand. But New Saint Andrews College is established on Christ, the immovable rock. It is a premier institution that forges evangelical leaders who don’t fear or hate the world. Guided by God’s Word, they take the world back because they’re equipped with the genius of classical liberal arts and God-honoring wisdom, thanks to a faculty dedicated to academic rigor and to God’s kingdom.Find out more, at nsa.edu/ https://justthenews.com/nation/economy/facebook-stock-down-70-down-800-billion-market-cap-year-nears-end Investors reportedly disgruntled as Facebook stock down 70%, company out $800 billion in market cap Investors in Facebook parent company Meta are reportedly growing dissatisfied with the company's fixation on the "metaverse" as the corporations' stock continues to plunge and its market capitalization continues a long slide. The company has seen its stock plummet throughout 2022, shedding more than 70% of its value from the start of the year as it fell from over $330 per share in January to nearly $90 per share this week. The company's market cap has also plunged from its high last year, dropping from just over $1 trillion in August of 2021 to under $250 billion in November. Investors, meanwhile, are reported to be unhappy with the company's business direction, specifically founder Mark Zuckerberg's fixation on the virtual reality "metaverse," a project that has generated relatively little excitement outside of esoteric tech circles. Jim Tierney, an investment officer for Meta shareholder AllianceBernstein, told the Financial Times that, had any other company plowed so much money into a strategically dubious project, "you’d have activist investors writing letters, proposing alternative slates of directors, demanding change." David Older, an asset manager at Carmignac, claimed that Zuckerberg has been "tone-deaf to the investment community, doubling down on everything." “The timeline for the metaverse is very stretched. I don’t think you’re going to know if it is the right move for five or 10 years," he told FT. Meta, meanwhile, told FT that the company "value[s] the opinions of our investors and regularly engage with them to ensure we’re aware of their respective perspectives.” https://www.foxnews.com/us/kansas-woman-helmed-female-isis-battalion-sentenced-20-years-prison Kansas woman who helmed female ISIS battalion sentenced to 20 years in prison Allison Fluke-Ekren, a 42-year-old woman who grew up on a farm in Overbrook, Kansas, was sentenced to two decades in prison on Tuesday for leading the Khatiba Nusaybah, an all-female ISIS battalion in Raqqa, Syria. Fluke-Ekren's own children asked the judge to hand down the maximum sentence, 20 years, during victim impact statements at the hearing. Fluke-Ekren tearfully spoke to the judge before her sentencing. "I deeply regret my choices, but I also deeply sympathize with women abused and raped in Syria." In a plea deal made with the government, Fluke-Ekren admitted she translated and analyzed documents taken from the U.S. Consulate in Benghazi, Libya, after the terrorist attack on the facility in 2012. She tried to explain to the court some of her actions during the seven years she spent in Syria. "I was afraid of my conduct in Benghazi. I just didn’t see a way out." Fluke-Ekren also stressed that for most of her time in Syria, she had been just a mother, caring for her several children as well as other children and their mothers. Federal Judge Leonie Brinkema said she did not find Fluke-Ekren’s claims "wholly credible," saying she had "downplayed the impact" of her role in the Benghazi attack. The judge continued, "There’s no question you were providing material support for a terrorist organization," and emphasized several times during the hearing that was the crime for which Fluke-Ekren would be sentenced. Earlier in the sentencing hearing, two of Fluke-Ekren’s adult children gave emotional statements against their mother. Layla Ekren was visibly trembling in court for nearly an hour before she got her chance to tell Brinkema that her mother abused her as a child. She told the court about one instance in Syria when the family had lice, and her mother held her down on the ground and poured the medicine on her eyes in an apparent attempt to blind her. First Assistant U.S. Attorney Raj Parekh laid out the allegations against Fluke-Ekren in a sentencing memo, writing that she urged a woman to commit a suicide bombing and told others that her oldest son was born after she was raped by an American soldier as a way to gain favor with other terrorists. https://justthenews.com/world/middle-east/united-nations-orders-israel-get-rid-nuclear-weapons United Nations calls on Israel to get rid of nuclear weapons The United Nations General Assembly has passed a resolution calling on Israel to dispose of all of its alleged nuclear weapons and to put its nuclear sites under the jurisdiction of the International Atomic Energy Agency. The resolution, led by the UN's First Committee, which deals with nuclear disarmament, passed 152-5 over the weekend. Egypt submitted the resolution to the General Assembly in New York with sponsors including the Palestinian Authority and 19 countries including Morocco and the United Arab Emirates, the Jerusalem Post reported. The five countries that opposed the resolution were Canada, Israel, Micronesia, Palau and the United States. Twenty-four countries including European Union members, abstained from the vote. Israel has never admitted to having nuclear weapons but is widely believed to have them. Israel is one of the few U.N. member states that has not signed the Non-Proliferation of Nuclear Weapons Treaty. Iran is a signatory on the treaty, but international authorities believe that Tehran may already possess nuclear weapons. The resolution, on the "risk of nuclear proliferation in the Middle East," did not include Iran. The resolution calls on Israel "to accede to the Treaty without further delay, not to develop, produce, test or otherwise acquire nuclear weapons, to renounce possession of nuclear weapons and to place all its unsafe guarded nuclear facilities under the full scope of Agency safeguards as an important confidence-building measure among all States of the region and as a step toward enhancing peace and security." https://news.yahoo.com/dwyane-wades-ex-wife-fears-175220499.html Dwyane Wade's Ex-Wife Fears He's 'Pressuring' Zaya Into Name And Gender Change For Financial Gain Dwyane Wade’s ex-wife, Siohvaughn Funches-Wade, the star’s first wife and mother of his two oldest children, filed paperwork this week asking a judge to postpone their daughter Zaya’s sex change until she’s 18. In Funches-Wade plea to the judge, she claims the NBA star is exploiting their daughter for financial income. According to The Blast, Funches-Wade has sentiments about Zaya being pressured into the permanent change by Dwayne. “I have concerns that (Dwyane) may be pressuring our child to move forward with the name and gender change in order to capitalize on the financial opportunities that he has received from companies,” she said in her legal filing. The filing was in response to an August petition by Dwayne asking permission for Zaya to legally change her name from Zion Malachi Airamis Wade to Zaya Malachi Airamis Wade. Zaya came out as transgender in 2020 at the age of 12. Dwayne’s argument concerning his ex-wife’s petition was acknowledging that he is the legal guardian of their children and has the legal right to make decisions on his daughter’s behalf. Funch-Wade says during a conversation in April, Dwayne told her “a lot of money had been already made, and that additional money will be made in relation to our child’s name and gender issue.” Funch-Wade alleges her ex-husband only informs her of their children’s life choices out of ‘courtesy’ but states she wants to be hands-on in all decisions affecting the children. She also claims he is legally required to consult her on “major decisions affecting care, welfare, activities, health, education and religious upbringing.” Funch-Wade and Dwayne will have a hearing in December to determine whether Zaya can change her name and sex without her agreement.

This is Garrison Hardie with your CrossPolitic Daily Newsbrief for Thursday, November 3rd, 2022. Good to be back with you all, let’s get right into the news! https://www.cnbc.com/2022/11/02/fed-hikes-by-another-three-quarters-of-a-point-taking-rates-to-the-highest-level-since-january-2008.html Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008. The move continued the most aggressive pace of monetary policy tightening since the early 1980s, the last time inflation ran this high. Along with anticipating the rate hike, markets also had been looking for language indicating that this could be the last 0.75-point, or 75 basis point, move. The new statement hinted at that policy change, saying when determining future hikes, the Fed “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.” Economists are hoping this is the much talked about “step-down” in policy that could see a rate increase of half a point at the December meeting and then a few smaller hikes in 2023. This week’s statement also expanded on previous language simply declaring that “ongoing increases in the target range will be appropriate.“ The new language read, “The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.” Stocks initially rose following the announcement, but turned negative during Chairman Jerome Powell’s news conference as the market tried to gauge whether the Fed thinks it can implement a less restrictive policy that would include a slower pace of rate hikes to achieve its inflation goals. On balance, Powell dismissed the idea that the Fed may be pausing soon though he said he expects a discussion at the next meeting or two about slowing the pace of tightening. He also reiterated that it may take resolve and patience to get inflation down. The rate increase comes as recent inflation readings show prices remain near 40-year highs. A historically tight jobs market in which there are nearly two openings for every unemployed worker is pushing up wages, a trend the Fed is seeking to head off as it tightens money supply. Concerns are rising that the Fed, in its efforts to bring down the cost of living, also will pull the economy into recession. Powell has said he still sees a path to a “soft landing” in which there is not a severe contraction, but the U.S. economy this year has shown virtually no growth even as the full impact from the rate hikes has yet to kick in. At the same time, the Fed’s preferred inflation measure showed the cost of living rose 6.2% in September from a year ago – 5.1% even excluding food and energy costs. GDP declined in both the first and second quarters, meeting a common definition of recession, though it rebounded to 2.6% in the third quarter largely because of an unusual rise in exports. At the same time, housing demand has plunged as 30-year mortgage rates have soared past 7% in recent days. On Wall Street, markets have been rallying in anticipation that the Fed soon might start to ease back as worries grow over the longer-term impact of higher rates. The Dow Jones Industrial Average has gained more than 13% over the past month, in part because of an earnings season that wasn’t as bad as feared but also due to growing hopes for a recalibration of Fed policy. Treasury yields also have come off their highest levels since the early days of the financial crisis, though they remain elevated. The benchmark 10-year note most recently was around 4.09%. There is little if any expectation that the rate hikes will halt anytime soon, so the anticipation is just for a slower pace. Futures traders are pricing a near coin-flip chance of a half-point increase in December, against another three-quarter point move. https://thepostmillennial.com/bidens-cdc-replaces-word-woman-with-pregnant-person-in-flu-vaccine-guidance?utm_campaign=64487 Biden's CDC replaces word 'woman' with 'pregnant person' in flu vaccine guidance The US Centers for Disease Control (CDC) has removed the word woman from sections of its safety guidance on flu vaccines during pregnancy. According to the Daily Mail, gendered terms such as woman, women, mother and she/her pronouns were all erased from the Q & A section of the Flu Vaccine Safety and Pregnancy page in August of last year. The words were replaced with gender-neutral language such as “pregnant people” and the gender-neutral pronoun “their.” However, the words woman and mother still appear in other sections of the CDC website, such as the Vaccines During Pregnancy FAQ page. “Influenza is more likely to cause severe illness in pregnant people,” says the CDC. “Flu shots given during pregnancy help protect the ‘pregnant parent’ and the baby from flu.” Those advocating for the use of gender-neutral language in the healthcare setting argue that the intention is to ensure that everyone feels included. So for example because a tiny number of females who identify as men may become pregnant, the word woman should be removed from maternity care to include them. But feminist campaigners have suggested that the so-called inclusive language only appears to go one way. Ovarian cancer apparently now affects “people” not women, but prostate cancer still affects men. Healthline referred to “men” and “vulva-owners” last year on its HPV information pages. Meanwhile, MedicineNet.com kept the definition of male as “the sex that produces spermatozoa” but redefined female as being a complicated mix of chromosomal anomalies and gender identity. This has led some to speculate that this new inclusive language is not so much about being inclusive of everybody and more about ensuring that the word woman is never used in a way that excludes males who identify as women, while at the same time not reminding those males of their biology. New Saint Andrews: Today’s culture shifts like sand. But New Saint Andrews College is established on Christ, the immovable rock. It is a premier institution that forges evangelical leaders who don’t fear or hate the world. Guided by God’s Word, they take the world back because they’re equipped with the genius of classical liberal arts and God-honoring wisdom, thanks to a faculty dedicated to academic rigor and to God’s kingdom.Find out more, at nsa.edu/ https://justthenews.com/nation/economy/facebook-stock-down-70-down-800-billion-market-cap-year-nears-end Investors reportedly disgruntled as Facebook stock down 70%, company out $800 billion in market cap Investors in Facebook parent company Meta are reportedly growing dissatisfied with the company's fixation on the "metaverse" as the corporations' stock continues to plunge and its market capitalization continues a long slide. The company has seen its stock plummet throughout 2022, shedding more than 70% of its value from the start of the year as it fell from over $330 per share in January to nearly $90 per share this week. The company's market cap has also plunged from its high last year, dropping from just over $1 trillion in August of 2021 to under $250 billion in November. Investors, meanwhile, are reported to be unhappy with the company's business direction, specifically founder Mark Zuckerberg's fixation on the virtual reality "metaverse," a project that has generated relatively little excitement outside of esoteric tech circles. Jim Tierney, an investment officer for Meta shareholder AllianceBernstein, told the Financial Times that, had any other company plowed so much money into a strategically dubious project, "you’d have activist investors writing letters, proposing alternative slates of directors, demanding change." David Older, an asset manager at Carmignac, claimed that Zuckerberg has been "tone-deaf to the investment community, doubling down on everything." “The timeline for the metaverse is very stretched. I don’t think you’re going to know if it is the right move for five or 10 years," he told FT. Meta, meanwhile, told FT that the company "value[s] the opinions of our investors and regularly engage with them to ensure we’re aware of their respective perspectives.” https://www.foxnews.com/us/kansas-woman-helmed-female-isis-battalion-sentenced-20-years-prison Kansas woman who helmed female ISIS battalion sentenced to 20 years in prison Allison Fluke-Ekren, a 42-year-old woman who grew up on a farm in Overbrook, Kansas, was sentenced to two decades in prison on Tuesday for leading the Khatiba Nusaybah, an all-female ISIS battalion in Raqqa, Syria. Fluke-Ekren's own children asked the judge to hand down the maximum sentence, 20 years, during victim impact statements at the hearing. Fluke-Ekren tearfully spoke to the judge before her sentencing. "I deeply regret my choices, but I also deeply sympathize with women abused and raped in Syria." In a plea deal made with the government, Fluke-Ekren admitted she translated and analyzed documents taken from the U.S. Consulate in Benghazi, Libya, after the terrorist attack on the facility in 2012. She tried to explain to the court some of her actions during the seven years she spent in Syria. "I was afraid of my conduct in Benghazi. I just didn’t see a way out." Fluke-Ekren also stressed that for most of her time in Syria, she had been just a mother, caring for her several children as well as other children and their mothers. Federal Judge Leonie Brinkema said she did not find Fluke-Ekren’s claims "wholly credible," saying she had "downplayed the impact" of her role in the Benghazi attack. The judge continued, "There’s no question you were providing material support for a terrorist organization," and emphasized several times during the hearing that was the crime for which Fluke-Ekren would be sentenced. Earlier in the sentencing hearing, two of Fluke-Ekren’s adult children gave emotional statements against their mother. Layla Ekren was visibly trembling in court for nearly an hour before she got her chance to tell Brinkema that her mother abused her as a child. She told the court about one instance in Syria when the family had lice, and her mother held her down on the ground and poured the medicine on her eyes in an apparent attempt to blind her. First Assistant U.S. Attorney Raj Parekh laid out the allegations against Fluke-Ekren in a sentencing memo, writing that she urged a woman to commit a suicide bombing and told others that her oldest son was born after she was raped by an American soldier as a way to gain favor with other terrorists. https://justthenews.com/world/middle-east/united-nations-orders-israel-get-rid-nuclear-weapons United Nations calls on Israel to get rid of nuclear weapons The United Nations General Assembly has passed a resolution calling on Israel to dispose of all of its alleged nuclear weapons and to put its nuclear sites under the jurisdiction of the International Atomic Energy Agency. The resolution, led by the UN's First Committee, which deals with nuclear disarmament, passed 152-5 over the weekend. Egypt submitted the resolution to the General Assembly in New York with sponsors including the Palestinian Authority and 19 countries including Morocco and the United Arab Emirates, the Jerusalem Post reported. The five countries that opposed the resolution were Canada, Israel, Micronesia, Palau and the United States. Twenty-four countries including European Union members, abstained from the vote. Israel has never admitted to having nuclear weapons but is widely believed to have them. Israel is one of the few U.N. member states that has not signed the Non-Proliferation of Nuclear Weapons Treaty. Iran is a signatory on the treaty, but international authorities believe that Tehran may already possess nuclear weapons. The resolution, on the "risk of nuclear proliferation in the Middle East," did not include Iran. The resolution calls on Israel "to accede to the Treaty without further delay, not to develop, produce, test or otherwise acquire nuclear weapons, to renounce possession of nuclear weapons and to place all its unsafe guarded nuclear facilities under the full scope of Agency safeguards as an important confidence-building measure among all States of the region and as a step toward enhancing peace and security." https://news.yahoo.com/dwyane-wades-ex-wife-fears-175220499.html Dwyane Wade's Ex-Wife Fears He's 'Pressuring' Zaya Into Name And Gender Change For Financial Gain Dwyane Wade’s ex-wife, Siohvaughn Funches-Wade, the star’s first wife and mother of his two oldest children, filed paperwork this week asking a judge to postpone their daughter Zaya’s sex change until she’s 18. In Funches-Wade plea to the judge, she claims the NBA star is exploiting their daughter for financial income. According to The Blast, Funches-Wade has sentiments about Zaya being pressured into the permanent change by Dwayne. “I have concerns that (Dwyane) may be pressuring our child to move forward with the name and gender change in order to capitalize on the financial opportunities that he has received from companies,” she said in her legal filing. The filing was in response to an August petition by Dwayne asking permission for Zaya to legally change her name from Zion Malachi Airamis Wade to Zaya Malachi Airamis Wade. Zaya came out as transgender in 2020 at the age of 12. Dwayne’s argument concerning his ex-wife’s petition was acknowledging that he is the legal guardian of their children and has the legal right to make decisions on his daughter’s behalf. Funch-Wade says during a conversation in April, Dwayne told her “a lot of money had been already made, and that additional money will be made in relation to our child’s name and gender issue.” Funch-Wade alleges her ex-husband only informs her of their children’s life choices out of ‘courtesy’ but states she wants to be hands-on in all decisions affecting the children. She also claims he is legally required to consult her on “major decisions affecting care, welfare, activities, health, education and religious upbringing.” Funch-Wade and Dwayne will have a hearing in December to determine whether Zaya can change her name and sex without her agreement.

UK Prime Minister Liz Truss says she recognises her mistakes and apologises for the way the mini-budget was launched and handled. Her new Chancellor Jeremy Hunt rips up the bulk of her economic programme in a bid to calm jittery markets. On Wall Street, tech stocks fight back, helping the Nasdaq to its best day since July. Bank of America shares surge following better-than-expected Q3 profits on the back of an increase in interest income. CEO Brian Moynihan tells our colleagues Stateside that U.S. consumer remains ‘very solid'. Credit Suisse is reportedly wooing the Abu Dhabi and the Saudi sovereign wealth funds for capital injections into its investment banking arm. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Live from the no panic zone—I'm Steve Gruber—I am America's Voice— I am a radical MAGA American extremist— AND I have heard enough! The radical Green New Dealers and those that think your gender is determined by the pants you wear or the color of your hair—are done here—we will prevail!   Here are three big things you need to know right now— ONE— A mother in Silicon valley—was beheaded this past week in front of her two daughters—and we now know her killer was an illegal alien— TWO— Joe Bidens DOJ—is working to make plea deals with at least 5 of the 9/11 terrorists—that were responsible for killing nearly 3,000 people that day— THREE— In an outrageous and inflammatory victory lap the 3 Stooges of the Socialist Party—tried to take a victory lap on the Inflation reduction act—the clown show came on the same day—inflation for August was shown to be up—the annual inflation rate was pegged at 8.3% and the stock markets got creamed across the board—the whole spectacle was frankly an embarrassment—   Bragging about how great you're doing—and boasting about how you're saving America—when 60% are living paycheck to paycheck—the number of people needing food stamps is rising and food banks are struggling worse than at any time in decades—including the heart of the Covid pandemic in 2020 and 21—it really was quite breath taking—   Inflation— to be blunt, is on fire still—and the latest numbers show that except for lower prices on gasoline and diesel—everything else has continued to climb— In fact the temporary drop in gas prices only masked what millions of Americans know—the price of everything is going through the roof—and the inflation rate is stuck at 8.3% year over year—   And the dirty little secret about gas prices—is they were artificially lowered because President Joe Biden has recklessly dumped hundreds of millions of barrels of oil from America's Strategic Petroleum Reserve into the market—something that is absolutely unprecedented and an abuse of power in an effort to stay in power— AND it cannot last—we have pushed our SPR to its lowest level in decades too—   The strategic petroleum reserve is supposed to be in case of national emergency—not to help save a political party from certain loss in an upcoming election—   The biggest shock to consumers however continues to be the price groceries, and housing—   BUT here is something else— something that is very suspect—and being pushed by the left—that doesn't seem to be true at all—   I keep hearing how the price of gas continues to go down as a national average—  BUT here in Michigan the price of gas seems to be going back up—and I am hearing the same from all over the country like Wisconsin, North Carolina, Pennsylvania—and elsewhere—   So they keep telling us—how good things are—BUT I can tell you—average Americans know better—the real cost of everything is going up—and the cost of gas is STILL UP anywhere from $1.50 to $2.00 a gallon than when Joe Biden took office—that is not success—that is a disaster! Diesel Fuel is even higher—   In light of all of this Joe Biden flanked by Chuck Schumer and Nancy Pelosi—tried to take a victory lap for the Inflation Reduction Act—which has done nothing to help—and people know it—   Biden tried to claim his American Rescue Plan, The Inflation Reduction Act, The Chips and Science Act and forgiving up to a Trillion dollars in student loan debt will somehow keep inflation under control—and help average Americans—BUT he cannot explain why—   And investors know better too—after the days dismal numbers—   On Wall Street there was bloodbath— the markets were clearly rejecting the inflation numbers and the Trillions of dollars in reckless spending—the Dow fell more than 4 percent—dropping nearly 1300 points— the S and P 500 and Nasdaq were also pummeled—   And that might be the good economic news of the week—because as I have been warning you, there is a looming strike of 115,000 railroad workers across 13 unions that could bring freight trains to a halt—   The devastation will come fast—even a short delay could mean further disruptions to the supply chain—which would spike inflation on all fronts even more—   A rail strike is a worst case scenario for the Biden Administration in a critical mid-term election year— Financial experts say the pain will be swift and severe—so I warn you again—that this pending walkout—after 3 years of negotiations—and the Unions balking at a plan put together by a Presidential Emergency Board offering a 22% pay increase over 5 years and retroactive to 2020—leaves very little hope for optimism—   The only prayer for the Democrats—is that Union bosses can somehow hold off the strike until after the November elections—otherwise—it could trigger massive supply chain issues—another huge spike in unemployment and a disaster for Americans everywhere—   Lets start with the insanity of the Democrats and the economy—  

Kat Frederick - CMO, Los Angeles Rams Broderick Hicks - VP, Brands, Wasserman Nicole Jeter West - CEO, Underdog Venture Team Allison Feaster - VP of Player Development & Organizational Growth, Boston Celtics Candace Sautman (moderator) - Senior Director of Strategy, Laundry Service   Real-world issues in sports and business have always been intertwined. In sports, these challenges are very visible, and even more so since Colin Kaepernick's protests during the National Anthem in 2016. Schools, workplaces, and communities have been grappling with issues around Diversity, Equity, and Inclusion for years, and while not as publicly visible, the challenges are just as big. What is next in sports, business and culture to evolve a more equitable and accurate depiction of gender, race, and sexuality across sports and business? Progress must be made. On Wall Street, public boards must have female representation. In the NFL, the Rooney Rule hasn't changed the numbers on Black head coaches. How do we move from the initiatives of today - hosting events, educating, and training on DE&I to truly living DEI - having truly diverse, inclusive, representative organizations and teams on and off the field? It is time to move the chains on DE&I initiatives in sports and this panel will highlight leaders who are the change.

Dr. Brad Klontz joins the show to discuss misinformation around money and mental health, the near impossibility of successful day trading, cryptocurrency, how the wealthy approach investing, harmful money advice on social media, the best way to motivate people to save, and more!Audio outro: The Black Keys, “For the Love of Money”Intro music by David von KampenLinks:Dr. Brad Klontz websiteMoney Mindset YouTube channelDr. Klontz on TikTokMoney Mammoth bookMind Over Money bookResearch articlesFind your Money ScriptMoney and the Mind Ep40 with Dr. KlontzBio from Dr. Klontz's website (lightly edited):Bradley T. Klontz, Psy.D., CFP is a Co-Founder of the Financial Psychology Institute and an Associate Professor of Practice in Financial Psychology at Creighton University Heider College of Business. He is a Managing Principal of Your Mental Wealth Advisors, a Fellow of the American Psychological Association, and a Former President of the Hawaii Psychological Association. He has partnered with organizations including Capital One, JP Morgan Chase, Mutual of Omaha, and H&R Block in efforts to help raise public awareness around issues related to financial health and financial psychology. Dr. Klontz was awarded the Innovative Practice Presidential Citation from the American Psychological Association for his application of psychological interventions to help people with money and wealth issues and his innovative practice in financial psychology for practitioners across the country.Dr. Klontz has been a columnist for the Journal of Financial Planning, On Wall Street, and PsychologyToday.com, and has co-authored/co-edited six books on the psychology of money.His work has been featured on ABC News' 20/20, Good Morning America, USA Today, The Wall Street Journal, New York Times, Washington Post, Los Angeles Times, Time, Kiplinger's, Money Magazine, NPR, and many others.