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In this episode, part of Indu Viswanathan's Hindu at Heart series, she talks with Vindhya Adapa, an attorney at the US Treasury Department who is also a professional singer and producer, who merges her identities to create impactful music. Vindhya earned her JD at the University of Pennsylvania, and two bachelor's degrees from the University of Maryland. Listen to Vindhya's music on SpotifyFollow Vindhya on Instagram Hosted on Acast. See acast.com/privacy for more information.
Have any spare change? Do you still use cash and coins? The US Treasury Department and US Mint announced that it will stop making pennies after it runs out of the blank templates used to make the coins, saving the government $56 million a year in materials costs. There is no indication that pennies will be taken out of circulation, only that new pennies will not be produced. This move should have no impact on electronic purchases - ACH, Wire, Debit, Credit, etc. A few news articles on the subject: https://www.axios.com/2025/05/22/penny-coins-end-production-2026 https://www.axios.com/2025/05/24/treasury-penny-production-trump-shopping-change This issue is not unique to the United States. Canada, Australia and New Zealand stopped producing their penny-equivalents years ago. The cost to produce $0.01 is now approximately $0.0369 per penny, causing a loss to the US Mint of approximately $85.3 million. And our other coins are similarly expensive to produce: $0.05 nickel costs $0.1378 per coin $0.10 dime costs $0.0576 per coin $0.25 quarter costs $0.1468 per coin It may be time to start using all those pennies we're currently saving in jars and piggybanks. What do you think? How will stopping the production of the penny impact you? Let us know if you enjoy this episode and, if so, please share it with your friends! Please also visit our sponsor Sam Cohen of Attorneys First Insurance for Attorneys and Title Companies looking to get a quote on Errors & Ommissions (malpractice) Insurance coverage. www.AttorneysFirst.com. Or, you can support the show by visiting our Patreon page: https://www.patreon.com/crushingDebt To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com.
In this episode, part of Indu Viswanathan's Hindu at Heart series, she talks with Vindhya Adapa, an attorney at the US Treasury Department who is also a professional singer and producer, who merges her identities to create impactful music. Vindhya earned her JD at the University of Pennsylvania, and two bachelor's degrees from the University of Maryland. Listen to Vindhya's music on SpotifyFollow Vindhya on Instagram Hosted on Acast. See acast.com/privacy for more information.
Doug McHoney (PwC's International Tax Services Global Leader) is joined by Professor Itai Grinberg, a faculty member at Georgetown University Law Center and a former Deputy Assistant Secretary at the US Treasury Department during the Biden administration. In that role, Itai served as the United States' lead negotiator for the global corporate minimum tax initiative. Doug and Itai discuss the behind-the-scenes history of Pillar Two from the US perspective, exploring its policy rationale, global negotiations, and shifting political dynamics. The conversation begins with how Itai's got his role at Treasury and builds a detailed timeline tracing the Biden administration's early support for global minimum tax rules through the 2021 G7 agreement and the development of the Under-Taxed Profits Rule (UTPR). They also delve into the impact of the Build Back Better legislation which was not enacted, the rationale behind the US safe harbor under UTPR, international political tensions including Brexit and US-China relations, and the implications of the April 2025 Trump executive order. The episode closes with reflections on the OECD Inclusive Framework's future and whether multinational enterprises can expect a workable consensus moving forward.
After a career in investment management and some time as a credit risk specialist at the US Treasury Department, Jill Eicher has written her first book titled, "Melon vs. Churchill: The Untold Story of Treasury Titans at War." It's all about the collection of war debts from World War I, which was fought between 1914 and 1918. Andrew Mellon, a wealthy industrialist, served as Secretary of the Treasury for Presidents Harding, Coolidge, and Hoover. 11 years total. He took on Chancellor of the Exchequer Winston Churchill. Jill Eicher tells a story that will be new to most readers. Learn more about your ad choices. Visit megaphone.fm/adchoices
After a career in investment management and some time as a credit risk specialist at the US Treasury Department, Jill Eicher has written her first book titled, "Melon vs. Churchill: The Untold Story of Treasury Titans at War." It's all about the collection of war debts from World War I, which was fought between 1914 and 1918. Andrew Mellon, a wealthy industrialist, served as Secretary of the Treasury for Presidents Harding, Coolidge, and Hoover. 11 years total. He took on Chancellor of the Exchequer Winston Churchill. Jill Eicher tells a story that will be new to most readers. Learn more about your ad choices. Visit megaphone.fm/adchoices
Anna Wong is the Chief US Economist at Bloomberg and previously worked at the Federal Reserve, White House Council of Economic Advisors, and US Treasury Department. I can imagine few people in the world better suited to analyze and forecast the impact of the tariffs. — For a deeper dive into these insights and more, be sure to listen to the full episode of the Onward podcast. Have questions or feedback about this episode? Drop us a note at Onward@Fundrise.com. Onward is hosted by Ben Miller, co-founder and CEO of Fundrise. Podcast production by The Podcast Consultant. Music by Seaplane Armada. About Fundrise With over 2 million users, Fundrise is America's largest direct-to-investor alternative asset investment platform. Since 2012, our mission has been to build a better financial system by empowering the individual. We make it easier and more efficient than ever for anyone to invest in institutional-quality private alternative assets — all at the touch of a button. Please see fundrise.com/oc for more information on all of the Fundrise-sponsored investment funds and products, including each fund's offering document(s). Want to see the specific assets that make up and power Fundrise portfolios? Check out our active and past projects at www.fundrise.com/assets.
In this episode of TP Talks, Kristina Novak sits down with Brett York, a Principal in PwC's NTS Mergers and Acquisitions practice and former Deputy Tax Legislative Counsel at the US Treasury Department. Kristina and Brett discuss Brett's experiences at Treasury, the implications of the Trump administration's regulatory freeze, and how political appointments influence tax policy. They explore the tax guidance process, IRS leadership changes, how the US engages in OECD tax negotiations, and what the future may hold for transfer pricing—particularly under a second Trump administration.Support the show
DITCH YOUR DOCTOR! https://www.livelongerformula.com/wam Get a natural health practitioner and work with Christian Yordanov! Mention WAM and get a FREE masterclass! HELP SUPPORT US AS WE DOCUMENT HISTORY HERE: https://gogetfunding.com/help-wam-cover-history/ GET NON-MRNA FREEZE DRIED MEAT HERE: https://wambeef.com/ Use code WAMBEEF to save 20%! GET HEIRLOOM SEEDS & NON GMO SURVIVAL FOOD HERE: https://heavensharvest.com/ USE Code WAM to save 5% plus free shipping! GET YOUR APRICOT SEEDS at the life-saving Richardson Nutritional Center HERE: https://rncstore.com/r?id=bg8qc1 Josh Sigurdson reports on the breaking news that 23AndMe has been selling people's DNA and data to big pharma and foreign governments. Of course those of us with more than a room temperature IQ have known this for years and have avoided giving DNA to random corporations, this recent development came as James O'Keefe had an undercover reporter secretly record Nathaniel Johnson, a policy advisor for the US Treasury Department. 23AndMe crashed on Monday, filing for bankruptcy. Interestingly, Johnson claimed the data was sold to big pharma and countries like Russia and others. There is a manufactured power shift both economically and culturally from the west to the east, so that in itself is an interesting development. What is more interesting is that big pharma has been developing bioweapons and injections that specifically target an individual's DNA for years. We've seen similar creations regarding nanotechnology and remote controlled inorganic "organisms." What does this mean for our bodily autonomy going forward as they poison the food supply and turn on 5G as well? What will happen under the coming emergency orders meant to force us into a technocracy? Stay tuned for more from WAM! Get local, healthy, pasture raised meat delivered to your door here: https://wildpastures.com/promos/save-20-for-life/bonus15?oid=6&affid=321 USE THE LINK & get 20% off for life and $15 off your first box! SIGN UP FOR HOMESTEADING COURSES NOW: https://freedomfarmers.com/link/17150/ Get Prepared & Start The Move Towards Real Independence With Curtis Stone's Courses! GET YOUR WAV WATCH HERE: https://buy.wavwatch.com/WAM Use Code WAM to save $100 and purchase amazing healing frequency technology! GET ORGANIC CHAGA MUSHROOMS HERE: https://alaskachaga.com/wam Use code WAM to save money! See shop for a wide range of products! GET AMAZING MEAT STICKS HERE: https://4db671-1e.myshopify.com/discount/WAM?rfsn=8425577.918561&utm_source=refersion&utm_medium=affiliate&utm_campaign=8425577.918561 USE CODE WAM TO SAVE MONEY! GET YOUR FREEDOM KELLY KETTLE KIT HERE: https://patriotprepared.com/shop/freedom-kettle/ Use Code WAM and enjoy many solutions for the outdoors in the face of the impending reset! BUY GOLD HERE: https://firstnationalbullion.com/schedule-consult/ PayPal: ancientwonderstelevision@gmail.com FIND OUR CoinTree page here: https://cointr.ee/joshsigurdson JOIN US on SubscribeStar here: https://www.subscribestar.com/world-alternative-media For subscriber only content! Pledge here! Just a dollar a month can help us alive! https://www.patreon.com/user?u=2652072&ty=h&u=2652072 BITCOIN ADDRESS: 18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU World Alternative Media 2025
Taxes on wages make up the bulk of federal revenue every year. Where does that money go, and who decides how much you should pay?The process is extremely complicated - and deeply political - which is why it's important for everyday taxpayers to understand how the people they elected choose to spend the money voters give out of their paychecks every year. We talk with tax policy expert Beverly Moran, a Paulus fellow at Boston College Law School and professor emerita at Vanderbilt, about how budget reconciliation works: where Congress decides where it will cut taxes, and how it will make up for those cuts. We also talk about how those decisionsaffect the vast majority of taxpayers, who earn most of their wealth from salary or wages... and how it looks different for the wealthiest Americans. Find Beverly's research on the impact of the 2017 TCJA here. Listen to our episodes on the history of the income tax in the United States, and how the tax return process works. We used a number of sources in this episode. Here are some, in order of appearance: How much revenue has the US government collected this year? from the US Treasury Department. Reconciliation explainer from the Congressional Budget Office.Budget Reconciliation: Tracking the 2025 Trump Tax Cuts from the Tax Foundation. What are itemized deductions and who claims them? from the Tax Policy Center. How did the TCJA change taxes of families with children? from the Tax Policy Center. The 2017 Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises from the Center on Budget and Policy Priorities. Lifting the SALT Cap: Estimated Budgetary Effects, 2024 and Beyond from Penn Wharton Budget Model at the University of Pennsylvania Wharton School of Business. Differences between the traditional CPI and Chained CPI from the Congressional Budget Office. Republicans say Medicaid cuts won't happen. But does their budget work without them? from NPR. Republicans want to lower taxes. The hard part is choosing what to cut. from the New York Times. Want our new "Civics is my cup of tea" mug? CLICK HERE TO DONATE AND GET YOURS!CLICK HERE: Visit our website to see all of our episodes, donate to the podcast, sign up for our newsletter, get free educational materials, and more! To see Civics 101 in book form, check out A User's Guide to Democracy: How America Works by Hannah McCarthy and Nick Capodice, featuring illustrations by Tom Toro.Check out our other weekly NHPR podcast, Outside/In - we think you'll love it!
President Donald Trump's escalating tariff war could particularly impact Ireland. Brad Setser, Senior Fellow on the Council on Foreign Relations and former Deputy Assistant Secretary at the US Treasury Department, explains.
US Treasury Department sanctions Iranian national accused of running the Nemesis criminal marketplace. Hunters International threatens to leak data stolen from Tata Technologies. Apple challenges U.K.'s iCloud encryption backdoor order. UK competition regulator says no investigation into Microsoft's OpenAI partnership. Stealthy malware campaign targets the UAE's aviation and satellite industry. This week on our CertByte segment, N2K's Chris Hare is joined by Troy McMillan to break down a question targeting the Cisco Certified Network Associate (CCNA) exam. And hackers hit the books. Remember to leave us a 5-star rating and review in your favorite podcast app. Miss an episode? Sign-up for our daily intelligence roundup, Daily Briefing, and you'll never miss a beat. And be sure to follow CyberWire Daily on LinkedIn. CertByte Segment Welcome to CertByte! On this bi-weekly segment hosted by Chris Hare, a content developer and project management specialist at N2K. This week, Chris is joined by Troy McMillan to break down a question targeting the Cisco Certified Network Associate (CCNA) exam, 201-301, version 1.1 exam. Today's question comes from N2K's Cisco Certified Network Associate (CCNA 200-301) Practice Test. According to Cisco, the CCNA is the industry's most widely recognized and respected associate-level certification. To learn more about this and other related topics under this objective, please refer to the following resource: https://learningnetwork.cisco.com/s/article/protection-techniques-nbsp-from-wardriving-attack To get the full news to knowledge experience, learn more about our N2K Pro subscription at https://thecyberwire.com/pro. Please note: The questions and answers provided here, and on our site, are not actual current or prior questions and answers from these certification publishers or providers. Additional source: https://www.cisco.com/site/us/en/learn/training-certifications/certifications/enterprise/ccna/index.html Selected Reading Treasury sanctions Iranian national behind defunct Nemesis darknet marketplace (The Record) Ransomware Group Claims Attack on Tata Technologies (SecurityWeek) Apple is challenging U.K.'s iCloud encryption backdoor order (TechCrunch) UK's competition regulator says Microsoft's OpenAI partnership doesn't qualify for investigation (TechCrunch) Call It What You Want: Threat Actor Delivers Highly Targeted Multistage Polyglot Malware (Proofpoint) Snail Mail Fail: Fake Ransom Note Campaign Preys on Fear (GuidePoint Security) Fake police call cryptocurrency investors to steal their funds (Bitdefender) Microsoft Teams tactics, malware connect Black Basta, Cactus ransomware (Bleeping Computer) Investigator says differing names for hacker groups, hackers studying investigative methods hinders law enforcement (CyberScoop) Share your feedback. We want to ensure that you are getting the most out of the podcast. Please take a few minutes to share your thoughts with us by completing our brief listener survey as we continually work to improve the show. Want to hear your company in the show? You too can reach the most influential leaders and operators in the industry. Here's our media kit. Contact us at cyberwire@n2k.com to request more info. The CyberWire is a production of N2K Networks, your source for strategic workforce intelligence. © N2K Networks, Inc. Learn more about your ad choices. Visit megaphone.fm/adchoices
The US Treasury Department Thursday imposed sanctions on a Rwandan government minister and a senior member of the M23 rebel group for their alleged role in the conflict in the eastern Democratic Republic of Congo (DRC). A US Treasury Department statement says Rwanda's Minister of State for Regional Integration, James Kabarebe, was being targeted because he is “central to Rwanda's support” for the M23 militant group that it said was responsible for human rights abuses in the DRC. Also sanctioned was Lawrence Kanyuka Kingston, an M23 and Congo River Alliance senior member and spokesperson, plus two of his companies registered in the United Kingdom and France. Jean Paul Ruhosha, an expert in conflict resolution and director of Congo Today, tells VOA's Douglas Mpuga, these sanctions will not help in resolving the conflict in eastern DR
One of President Donald Trump's many actions in his first three weeks included directing the US Treasury Department to stop minting new pennies. There's been a movement to get rid of the pennies of years, partly because, according to some estimates, the one-cent coin costs nearly four cents to produce, and the US Mint reported they lost $85.3 million last year making them. Former Director of the United States Mint, Philip Diehl, joined Dave Anthony to discuss why he's long been advocating for getting rid of the penny, Diehl explained how the change could impact the American economy. He also discussed why there's a case to get rid of the nickel and why coin and paper currencies will serve a purpose despite the popularity of crypto. We often must cut interviews short during the week, but we thought you might like to hear the full interview. Today on Fox News Rundown Extra, we will share our entire interview with Former Director of the United States Mint, Philip Diehl, allowing to learn more about the penny, and the potential future of American currency. Learn more about your ad choices. Visit podcastchoices.com/adchoices
One of President Donald Trump's many actions in his first three weeks included directing the US Treasury Department to stop minting new pennies. There's been a movement to get rid of the pennies of years, partly because, according to some estimates, the one-cent coin costs nearly four cents to produce, and the US Mint reported they lost $85.3 million last year making them. Former Director of the United States Mint, Philip Diehl, joined Dave Anthony to discuss why he's long been advocating for getting rid of the penny, Diehl explained how the change could impact the American economy. He also discussed why there's a case to get rid of the nickel and why coin and paper currencies will serve a purpose despite the popularity of crypto. We often must cut interviews short during the week, but we thought you might like to hear the full interview. Today on Fox News Rundown Extra, we will share our entire interview with Former Director of the United States Mint, Philip Diehl, allowing to learn more about the penny, and the potential future of American currency. Learn more about your ad choices. Visit podcastchoices.com/adchoices
One of President Donald Trump's many actions in his first three weeks included directing the US Treasury Department to stop minting new pennies. There's been a movement to get rid of the pennies of years, partly because, according to some estimates, the one-cent coin costs nearly four cents to produce, and the US Mint reported they lost $85.3 million last year making them. Former Director of the United States Mint, Philip Diehl, joined Dave Anthony to discuss why he's long been advocating for getting rid of the penny, Diehl explained how the change could impact the American economy. He also discussed why there's a case to get rid of the nickel and why coin and paper currencies will serve a purpose despite the popularity of crypto. We often must cut interviews short during the week, but we thought you might like to hear the full interview. Today on Fox News Rundown Extra, we will share our entire interview with Former Director of the United States Mint, Philip Diehl, allowing to learn more about the penny, and the potential future of American currency. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Hosts Ramses Ja and Q Ward discuss the growing involvement of Elon Musk in the US Treasury Department.See omnystudio.com/listener for privacy information.
President Trump's administration is facing numerous legal challenges to their executive orders, with the end to birthright citizenship, a freeze on federal funding, and others that are currently tied up in the courts. FOX News Contributor, attorney Andrew McCarthy, joins the Rundown to discuss the legal background behind some of the court cases and why he feels that the Trump administration has strong chances of legal victory in most instances. Later, Special Counsel to President Trump, Alina Habba, joins to share her thoughts on “activist judges” and the actions that President Trump has signed off on so far. Earlier this week, President Donald Trump directed the US Treasury Department to stop minting new pennies. The one-cent coin costs nearly four cents to produce, and the US Mint reported they lost $85.3 million last year producing pennies. In 2023, Congress proposed legislation to alter the coin's composition to cut costs. Former Director of the United States Mint, Philip Diehl, joins to discuss how getting rid of the penny will impact the American economy and what this will look like. Plus, commentary from FOX News contributor Joe Concha. Photo Credit: AP Learn more about your ad choices. Visit podcastchoices.com/adchoices
President Trump's administration is facing numerous legal challenges to their executive orders, with the end to birthright citizenship, a freeze on federal funding, and others that are currently tied up in the courts. FOX News Contributor, attorney Andrew McCarthy, joins the Rundown to discuss the legal background behind some of the court cases and why he feels that the Trump administration has strong chances of legal victory in most instances. Later, Special Counsel to President Trump, Alina Habba, joins to share her thoughts on “activist judges” and the actions that President Trump has signed off on so far. Earlier this week, President Donald Trump directed the US Treasury Department to stop minting new pennies. The one-cent coin costs nearly four cents to produce, and the US Mint reported they lost $85.3 million last year producing pennies. In 2023, Congress proposed legislation to alter the coin's composition to cut costs. Former Director of the United States Mint, Philip Diehl, joins to discuss how getting rid of the penny will impact the American economy and what this will look like. Plus, commentary from FOX News contributor Joe Concha. Photo Credit: AP Learn more about your ad choices. Visit podcastchoices.com/adchoices
President Trump's administration is facing numerous legal challenges to their executive orders, with the end to birthright citizenship, a freeze on federal funding, and others that are currently tied up in the courts. FOX News Contributor, attorney Andrew McCarthy, joins the Rundown to discuss the legal background behind some of the court cases and why he feels that the Trump administration has strong chances of legal victory in most instances. Later, Special Counsel to President Trump, Alina Habba, joins to share her thoughts on “activist judges” and the actions that President Trump has signed off on so far. Earlier this week, President Donald Trump directed the US Treasury Department to stop minting new pennies. The one-cent coin costs nearly four cents to produce, and the US Mint reported they lost $85.3 million last year producing pennies. In 2023, Congress proposed legislation to alter the coin's composition to cut costs. Former Director of the United States Mint, Philip Diehl, joins to discuss how getting rid of the penny will impact the American economy and what this will look like. Plus, commentary from FOX News contributor Joe Concha. Photo Credit: AP Learn more about your ad choices. Visit podcastchoices.com/adchoices
A federal judge has blocked Elon Musk from accessing sensitive Treasury Department records. AP correspondent Donna Warder reports.
Nine days after his swearing in, Scott Bessent sat down with Big Take DC host Saleha Mohsin at the US Treasury Department. They discussed topics in his purview dominating the headlines — Elon Musk’s DOGE efforts, tariffs — and his plans for taxes, trade, the Fed and more.See omnystudio.com/listener for privacy information.
Newt talks with Dr. Weifeng Zhong, about the significant cybersecurity breach involving the US Treasury Department, where a hacker accessed security keys to override protocols and access unclassified documents. The US Treasury has since placed sanctions on a Beijing-based cybersecurity company for its alleged involvement in multiple hacking incidents targeting critical US infrastructure. Dr. Zhong provides insights into the broader implications of Chinese state-sponsored hacking activities, including the notorious Salt Typhoon group, which has infiltrated major US telecommunications companies. They discuss the historical context of Chinese cyber espionage, the sophisticated methods employed, and the challenges in countering these threats. Additionally, their discussion touches on the controversial role of TikTok in data collection and propaganda, and the strategic considerations for the US in addressing these multifaceted cyber threats.See omnystudio.com/listener for privacy information.
New details emerge about Chinese hackers breaching the US Treasury Department. The Supreme Court considers the TikTok ban. Chinese hackers exploit a zero-day flaw in Ivanti Connect Secure VPN. A new credit card skimmer malware targets WordPress checkout pages. The Banshee macOS info-stealer has been updated. A California health services organization reports a data breach. A Florida firm pays a $337,750 HIPAA settlement following a 2018 breach. Samsung patches Android devices. A Proton Mail outage hits users worldwide. A popular e-card site recovers from malware. CertByte segment host Chris Hare interviews our guest Casey Marks, ISC2's Chief Qualifications Officer, about the future of certifications. That's a feature, not a hack. Remember to leave us a 5-star rating and review in your favorite podcast app. Miss an episode? Sign-up for our daily intelligence roundup, Daily Briefing, and you'll never miss a beat. And be sure to follow CyberWire Daily on LinkedIn. CyberWire Guest CertByte segment host Chris Hare interviews our guest Casey Marks, ISC2's Chief Qualifications Officer, about certifications and where they could be heading. You can check out their 2024 ISC2 Cybersecurity Workforce study here. Selected Reading Chinese hackers breached US government office that assesses foreign investments for national security risks (CNN) Supreme Court considers whether to allow TikTok ban to take effect (NBC News) Ivanti VPN zero-day exploited by Chinese hackers (SC Media) New Skimmer Malware Hijacking WordPress Websites to Steal Credit Cards (Cyber Security News) Banshee macOS Malware Expands Targeting (SecurityWeek) BayMark Health Services Reports Data Breach, Exposing Patient Information (The Cyber Express) Florida Firm Fined $337K by Feds for Data Deleted in Hack (BankInfo Security) Samsung Patches Multiple Vulnerabilities That Let Attackers Execute Arbitrary Code (Cyber Security News) Proton Mail still down as Proton recovers from worldwide outage (Bleeping Computer) GroupGreeting e-card site attacked in “zqxq” campaign (Malwarebytes) Microsoft DRM Hacking Raises Questions on Vulnerability Disclosures (SecurityWeek) Facebook awards researcher $100,000 for finding bug that granted internal access (RocketNews) Developers sent into security panic by 'useful feature' (The Register) Share your feedback. We want to ensure that you are getting the most out of the podcast. Please take a few minutes to share your thoughts with us by completing our brief listener survey as we continually work to improve the show. Want to hear your company in the show? You too can reach the most influential leaders and operators in the industry. Here's our media kit. Contact us at cyberwire@n2k.com to request more info. The CyberWire is a production of N2K Networks, your source for strategic workforce intelligence. © N2K Networks, Inc. Learn more about your ad choices. Visit megaphone.fm/adchoices
On today's program, sponsored by Lockheed Martin, Mark Montgomery, a retired US Navy rear admiral who is now the senior director of the Center on Cyber and Technology Innovation at the Foundation for Defense of Democracies and the executive director of the Cyber Solarium 2.0 project, joins Defense & Aerospace Report Editor Vago Muradian discuss China's recent hack of the US Treasury Department on heels of Beijing's penetration of major US telecommunications companies, what the Flax, Volt and Salt Typhoon attacks mean, what the attacks mean as China becomes increasingly risk tolerant in the nature and scope of its cyber operations, what has to happen to stop the attacks and reestablish deterrence, Beijing's increasingly aggressive behavior as Russia adopts increasingly hybrid warfare techniques against the United States and Western nations, how to counter such hybrid tactics like destroying undersea infrastructure, jeopardizing air cargo carriers and targeted assassinations, the global implications of the incoming Trump administration's approach to the Ukraine war and Taiwan, and what to expect at next week's Surface Navy Association's national symposium.
2025 is bringing with it some monetary changes for Canadians.The US Treasury Department says some of its workstations have been breeched by a China-sponsored hackCanada, United States set for 13th NYE's clash at World Juniors.
A Chinese state-sponsored hacker has broken into the US Treasury Department's systems, accessing employee workstations and some unclassified documents, according to American officials.President Joe Biden makes what is most likely his last multi-billion dollar grant of aid to Ukraine's economy whilst still in office. We take a look at how US companies are responding to the prospect of a Trump presidency which might be about to impose much higher import duties on goods from around the world.And we're in Scotland where - to some local dismay - the end of year festival, Hogmanay, has partly at least been cancelled.You can contact us on WhatsApp or send us a voicenote: +44 330 678 3033. We would love to hear from you!
A fix is on the way for those bricked Quest headsets, The US Treasury Department was hacked in a China-linked cyberattack, and YouTube copies Netflix's old 'Play Something' button. It's Tuesday, December 31st and this is Engadget News. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Welcome to New Year's Eve! Big plans tonight? Likely going to cook a nice meal, watch some of the TV countdown specials, and be in bed by 9pm. In the news this morning, the US Treasury Department says it was hacked, you might be able to see the Northern Lights in Wisconsin tonight, a deadly shooting in New Lisbon, and EV owners will be paying more taxes in 2025 at public charging stations. In sports, we recapped last night's Monday Night Football matchup between the Lions & 49ers, and we took a look ahead at the playoff scenarios for this weekend's final regular season action. Plus, a rundown of today's College Football Playoff bowl games. Let you know about all of tonight's New Year's Eve specials on TV, and we had a list of things to look forward to in the month of January! Grant Bilse from the Wisco Sports Show joined us yet again this morning, and we had a cool story about a missing dog that was on the loose for ten days before returning home & ringing the doorbell! In today's edition of "Bad News with Happy Music", we had stories about a DUI suspect who snuck a few unopened beers into the back of a squad car, a bus driver in Indiana who was busted for driving drunk with students on board, a Sopranos-esque story about a couple of paving companies in Georgia, and a teacher in Ohio who is suing her former school after she used a sick day to go to a concert. See omnystudio.com/listener for privacy information.
Today's West Coast Cookbook & Speakeasy Podcast for our especially special Holiday Special, Tarrytown Chowder New Year's Eve Tuesday is now available on the Spreaker Player!Starting off in the Bistro Cafe, the utter hypocrisy of a MAGA Senator who called on Vlad to release more manufactured kompromat on Hunter Biden, was exposed after his own son was just sentenced to thirty-five years in prison for killing a cop while high on bath salts and meth.Then, on the rest of the menu, following a series of home invasions, the FBI issued warnings to sports leagues about organized crime groups targeting pro athletes; California will soon require insurers to increase home coverage in wildfire-prone areas, or stop doing business in the state; and, the Biden administration moved to bar oil, gas and geothermal development in a Nevada mountain range for the next twenty years.After the break, we move to the Chef's Table where Chinese hackers remotely accessed several US Treasury Department workstations and unclassified documents after compromising a third-party software service provider; and, showing America and the world how it is done, a South Korean court issued warrants to arrest impeached President Yoon and search his office.All that and more, on West Coast Cookbook & Speakeasy with Chef de Cuisine Justice Putnam.Bon Appétit!The Netroots Radio Live PlayerKeep Your Resistance Radio Beaming 24/7/365!“As I ate the oysters with their strong taste of the sea and their faint metallic taste that the cold white wine washed away, leaving only the sea taste and the succulent texture, and as I drank their cold liquid from each shell and washed it down with the crisp taste of the wine, I lost the empty feeling and began to be happy and to make plans.” -- Ernest Hemingway "A Moveable Feast"Become a supporter of this podcast: https://www.spreaker.com/podcast/west-coast-cookbook-speakeasy--2802999/support.
Today on America in the Morning China Hackers Strike US Treasury It's being called a “major breach.” The US Treasury Department says they have been victimized by Chinese hackers. John Stolnis has more from Washington. Remembering Jimmy Carter Tributes are pouring in throughout the nation and around the world for former President Jimmy Carter, who passed away at the age of 100. Washington correspondent Sagar Meghani reports those who worked closely with Carter over the years are remembering his devotion to improving the lives of the world's poorest people. Trump Backs Johnson For Speaker President-elect Donald Trump has endorsed the current Speaker of the House. However, not every member of the GOP is on board. As correspondent Jackie Quinn reports, at least one Republican Congresswoman, Indiana's Victoria Spartz, tells Fox News that she isn't alone in her disapproval of Mike Johnson. Germany Claims Musk Election Interference Trump ally Elon Musk is being accused of trying to influence the Federal election in Germany. Correspondent Clayton Neville reports. Court Rules Against Donald Trump An appeals court upholds a $5 million award in a New York sexual abuse verdict against Donald Trump. Correspondent Julie Walker reports. Navigating Holiday Travel If you plan on traveling this New Year's, correspondent Rita Foley reports on what holiday travelers are facing on the roads. Plains, Georgia Remembers Jimmy Carter Jimmy Carter put Plains, Georgia on the map when he ran for the nation's highest office in the land, and his hometown is remembering him after the former president passed away at the age of 100. Washington correspondent Sagar Meghani reports. 2024 Top Political Stories 2024 brought a Presidential election and a slew of legal battles. Correspondent Clayton Neville has a political recap. Preparing Times Square For NYE Police in New York say there are no credible threats for New Year's Eve in Times Square, but still security will be as tight as ever. Correspondent Julie Walker reports. Mississippi River Rescue Rescuers were able to pull five people from a tugboat as it sank in the Mississippi River. Correspondent Haya Panjwani reports. Less Illegal Crossings Apparently it's not as porous as it used to be. Correspondent Ed Donahue tells us that an FBI report shows illegal border crossings are at low levels. Tech News While a number of tech stocks did well, there were also some big tech busts of 2024. With the 5 top tech fails of the year, here's Chuck Palm with today's tech news. Finally A judge in Argentina has confirmed charges against five people in connection with the October death of former One Direction singer Liam Payne. Entertainment correspondent Margie Szaroleta reports. If you think it's getting a bit crowded in your neighborhood, you may be onto something. Correspondent Jackie Quinn reports on the world's population increasing in 2024. With New Year's Eve tonight, our Kevin Carr reports that there are some movies you can start at a particular time to ring in the New Year with the characters at midnight. Learn more about your ad choices. Visit podcastchoices.com/adchoices
For review:1. US CENTCOM Forces Strike Houthi Rebel Targets.On Dec. 30 and 31, US Navy ships and aircraft targeted a Houthi command and control facility and advanced conventional weapon (ACW) production and storage facilities that included missiles and uncrewed aerial vehicles (UAVs). 2. Israeli Ambassador (Danny Danon) to UN Gives Last Warning to Houthis. “To the Houthis, perhaps you have not been paying attention to what has happened to the Middle East over the past year. Well, allow me to remind you what has happened to Hamas, to Hezbollah, to Assad, to all those who have attempted to destroy us. Let this be your final warning,” Danon told the UN Security Council. 3. Latest in Israel - Hamas Hostage Negotiations. Israel & Hamas disagree on number of living Hostages to be released.4. Latest US Security Assistance Package to Ukraine worth $1.25 Billion.In addition, the US Treasury Department meanwhile announced the disbursement of $3.4 billion in direct budgetary support for Ukraine. 5. Greece to provide 24 x Sea Sparrow Missiles to Ukraine. The missiles are part of a broader defense package for Ukraine, including artillery shells, weaponry, and ammunition.6. Russian Foreign Minister (Sergei Lavrov) on President-elect Trump Peace proposal: “Of course, we are not satisfied with the proposals being voiced by representatives of the president-elect to postpone Ukrainian NATO membership for 20 years and to send to Ukraine a peacekeeping contingent of ‘British and European forces,'” Lavrov said. 7. Turkish Drone Maker Baykar purchases Italian aviation firm Piaggio Aerospace.
On today's Strategy Series program, sponsored by General Atomics Aeronautical Systems, Barbara Matthews, a US Treasury Department veteran and first Treasury attache to the European Union who is the founder of BCM Strategy, discusses why the US dollar is the world's reserve currency and the power that status confers, how the reliance on the dollar subjects the world to US laws and oversight, why allies and adversaries are interested in alternatives to the dollar that Washington has increasingly “weaponized” to influences friends and foes especially during the first Trump presidency, how the advent of new digital currencies and alternatives could undermine the power of the dollar and US influence, whether President-elect Trump's threat to impose 100 percent tariffs on any nation that participates in a dollar alternative will stop such moves, what circumstances could drive allies to break from the dollar, and how the growing US debt and threats of default threaten the dollar with Defense & Aerospace Report Editor Vago Muradian.
Music Studio Startup: Helping music teachers thrive as entrepreneurs
Today's episode is more of a public service announcement for studio owners who have businesses that are registered in the US. On January 1, a new reporting requirement from the US Treasury Department went into effect and it might impact you. I'm talking about the Beneficial Ownership Information Reporting rule or BOI Reporting requirement from the Financial Crimes Enforcement Network (FinCEN), part of the Corporate Transparency Act. Today I'm going to share what I learned in my research of the ruling. I'm going to go through this in a Q&A format that traces the path I took and the questions that came up for me as I determined whether or not I would be eligible and then what the registration process entailed. Hopefully it'll help you jumpstart your own research. A full transcript and resources from this episode can be found at MusicStudioStartup.com/episode156. Disclaimer: I am not a lawyer and I'm not giving legal advice here. This is strictly for informational purposes and it's up to you to ensure your business is in compliance with all applicable laws.
What I learned from rereading James J. Hill: Empire Builder by Michael P. Malone. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Notes and highlights from the episode: —He had unlimited energy, was stubborn, had a temper, was supremely arrogant and he did more to transform the northern frontier of the United States than any other single individual.—One of the things he learned from history and biography: The power of one dynamic individual: Like so many other nineteenth-century youths, young Jim Hill fell under the spell of Napoleon. He came to believe in the strength of will, the power of one dynamic individual to change the world, the conquering hero. (He says that the railroad entrepreneurs conquered the distance between remote communities in the American west)—He accustomed himself to handle a large workload.—If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. –James J. Hill—He held people's attention as he engaged them in characteristic rapid-fire, highly animated conversation, gesturing expansively and driving home his point with jabbing motions of his hands—the embodiment of high energy.—He worked incredibly hard, sometimes laboring late into the night, falling asleep at the desk, then getting up for a swim in the river and a cup of black coffee, then going back to work.—“Rebates existed in other industries. I just applied them to oil.” Rockefeller said. [Don't copy the what, copy the how] —John D: The Founding Father of the Rockefellers by David Freeman Hawke. (Founders #254)—"The very best employee at any job at any level of responsibility is the person who generally believes that this is their last job working for someone. The next thing they'll start will be their own. — Max Levchin in The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley by Jimmy Soni. (Founders #233)—Hill drank little, worked hard, and confined his socializing to respectable settings. As always, he read incessantly. He permitted himself few distractions in his relentless drive to achieve wealth and status.—Inefficiency disturbs him greatly.—James J. Hill loved eliminating steps.—Genius has the fewest moving parts.—Hill limited the number of details. Then he makes every detail perfect.—Hill called vertical integration, rational integration.—Hill always gets out quickly in front of the emerging trend.—Hill had an entirely pragmatic business personality. When competition suited him in a market, he competed fiercely. But when competition became wasteful to him, he did not hesitate to end it, even if this meant joining with old enemies and creating a monopoly.—Hill was making profits owning steamboats. Then a competitor from Canada starts running the same route and the rates and profits dwindle. Hill discovers a neglected maritime law that prohibited foreign ships from operating in American waters. Hill then persuades the US Treasury Department to enforce the law against his competitor. The competitor has to transfer ownership to an American. After that Hill then merges with that competitor and forges another monopoly.—This railroad is my monument. — James J Hill—As man emerged into history, he became a road maker; the better the road, the more advanced his development. — James J. Hill.—By 1885 Railroads brought in twice the revenue than the federal government.Railroads were the nations largest employer.The railroaders were the largest private land holders in the country.They owned more than 10% of land in the United States.—Hill identified an opportunity hiding in plain sight: Unlike most who viewed the Saint Paul and Pacific as a near-worthless derelict, Hill viewed it as a miracle waiting to happen, a potentially wondrous enterprise simply lacking competent leadership. He studied the road constantly, reading every scrap of information he could find about it and boring anyone who would listen with endless detail as to what it could one day be.—He possessed a priceless advantage compared with most other nineteenth-century rail titans. Rather than coming from the outside world of finance, as most of them did, he arose from the inside world of freighting and transportation, and he knew this world in all its complexities. He was about to demonstrate how certain well-established, regional capitalists on the frontier could challenge and even best larger eastern interests.—Being obsessed is an edge. Hill was obsessed getting control of the bankrupt Saint Paul & Pacific rail line: Hill, who knew the road better than anyone else, constantly argued to his friends, the potential prize defied description. He seemed completely fixated on the project. Many years later, his friend recalled that Jim had spoken of it to him “probably several hundred times” during the mid-1870s.—James J. Hill finds what he is best at in the world at, at 40 years old, in a field where he had no direct experience.—“It pays to be where the money is spent” — James J Hill—James J. Hill was very easy to interface with. He had an easy to understand organizing principle for his company. Hills credo: What we want is the best possible line, shortest distance, lowest grades, and least curvature that we can build.—He had appreciation for those who had dirt underneath their fingernails.—Many observers would later compare Hill with Villard. The comparison was inevitable. “While Hill was building carefully and checking his costs minutely Villard built in ignorance of costs.” Like other transcontinental plungers, Villard did in fact build rapidly and poorly, much of his main line would later have to be torn up and rebuilt. He had rushed to get the massive land grants. Amid mounting deficits and acrimony, Villard was then forced to resign the presidency of the NP in 1884.—Find what you are good at and pound away at it forever.—He simply could not delegate authority and live with the outcome.—Hill on how to build a railroad: Work, hard work, intelligent work, and then more work. — James J Hill.—They managed the finances of the railroad in a highly conservative and prudent manner. Hill advocated and practiced a policy of plowing large percentages of profits directly back into the property, knowing that the best defense against invading railroads was a better-built system that could operate at lower rates.—Give me Swedes, snuff and whiskey, and I'll build a railroad through hell. — James J. Hill—From the Hour of Fate: James J. Hill had built the Great Northern with deliberate thrift and brutal efficiency. His railroad would become among the most profitable in the Northwest. He didn't need JP Morgan the way other railroad executives did. (Financial strength was kryptonite to JP Morgan)—He cared most about freight, never frills.—The life of James J. Hill certainly demonstrates the impact one willful individual can have on the course of history.—I've made my mark on the surface of the earth and they can't wipe it out. — James J Hill.----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast
The US Treasury Department plans to borrow an additional $1.37 Billion in the next 6 months. This will push the debt over $37 Trillion. Deficit spending is driving bond yields higher. This will continue as long as the government has significant debt. Higher bond yields increase insurance policy dividends. Multiple insurance companies have officially announced increased dividends for 2025! Most insurance experts predict dividends will continue to increase for the next 3-5 years up to the next 10 years. This is the best time to invest in high cash value insurance and annuities in 42+ years. Wall Street is concerned the stock market may be on the cusp of another "lost decade". Goldman Sachs is now projecting a 3% annual return for the next decade. Nearly every leading economic indicator points to challenging economic times ahead. Reducing market risk is important to thrive through volatility. Reduce your market risk. Reduce your future tax liability. Increase liquidity. Create positive cash flow on your money. Your Personal Bank allows you to grow your money insured, guaranteed, tax-free, and highly liquid.
Linda Jeng is the Founder and CEO of Digital Self Labs and she joins me in exploring the evolving landscape of stablecoins. Castle Island Ventures' latest stablecoin report, 'Stablecoins: the Emerging Market Story' is the focus of this episode. To kick things off, Linda shares her background in financial regulation, blockchain, and AI, and offers critical insights into how stablecoins are reshaping financial systems in emerging markets. Through a detailed analysis of the Castle Island Ventures report written with Brevan Howard Digital, the conversation reveals the growing use of stablecoins for cross-border payments, currency conversion, and as a stable store of value, reflecting their importance beyond crypto trading. We also touch on regulatory perspectives, why non-dollar stablecoin volumes are so meagre, and the potential impact of Central Bank Digital Currencies (CBDCs) on the stablecoin market. Linda Jeng, is a trailblazing leader in the digital economy through 'shaping a self-empowered future through blockchain and AI technologies'. Digital Self Labs is a regulatory and policy advisory firm combining blockchain expertise with policy and regulatory strategy. With over 15 years of government experience, she has held key roles at institutions like the U.S. Federal Reserve, US Treasury Department, the SEC and the Bank for International Settlements. Linda is also a Visiting Scholar at Georgetown Law, a Senior Lecturing Fellow at Duke Law School, and a Bank for International Settlements Research Fellow. Her deep expertise in financial systems and her advocacy for data transparency and decentralized technology make her a pivotal figure in shaping the future of finance. TIMESTAMPS: 02:57 Linda Jeng's Career Journey 05:36 Castle Island Ventures and 'Stablecoins: The Emerging Market Story' 09:59 Understanding Stablecoins in Emerging Markets 14:15 The Role of Stablecoins in Global Finance 19:38 Challenges and Opportunities for Stablecoins 20:59 The Future of Stablecoins and Digital Identity 46:23 Final Thoughts and Key Takeaways 48:50 Closing Remarks and Acknowledgements REFERENCE LINKS: Stablecoins: The Emerging Market Story (Castle Island Ventures & Brevan Howard Digital, 12-Sep-24) Nic Carter's recent talk at Token2049 where he discussed the report in detail (X, 27-Sep-24) The Finternet: The financial system for the future (Bank for International Settlements, 19-Apr-24) International Association of Deposit Insurers Overview of the Bancor Proposal from Bretton Woods (Wikipedia) Stablecoin companies now 16th largest holder of U.S. treasuries globally (CryptoSlate, 18-Oct-23) Follow our guest co-host, Linda Jeng on X(Twitter) and LinkedIn Learn more about: Digital Self Labs: https://www.digitalselflabs.com/ Techstars Web3 Accelerator: https://www.techstars.com/accelerators/web3 Leave a review and subscribe on: Apple Podcasts: https://podcasts.apple.com/us/podcast/id1455819294 Spotify: https://open.spotify.com/show/4F8uOLxiscYVWVGEfNxTnd MoneyNeverSleeps website: https://www.moneyneversleeps.ie/ Email us: info@norioventures.com Follow on X(Twitter): Pete Townsend: https://twitter.com/petetownsendnv MoneyNeverSleeps: https://twitter.com/MNSshow Follow on LinkedIn: Pete Townsend: https://www.linkedin.com/in/pete-townsend-1b18301a/ MoneyNeverSleeps: https://www.linkedin.com/company/28661903/admin/feed/posts/ MoneyNeverSleeps newsletter on Substack: https://moneyneversleeps.substack.com/
Stephen Miran is a former senior advisor to the US Treasury Department, a senior strategist at Hudson Bay Capital, and a fellow at the Manhattan Institute. Stephen is also a returning guest to the podcast, and he rejoins David on Macro Musings to talk about his recent paper with Nouriel Roubini titled, *Activist Treasury Issuance and the Tug-of-War Over Monetary Policy,* as well as his thoughts on what a second Trump presidential term would mean for the Fed and financial markets. Transcript for this week's episode. Stephen's Twitter: @SteveMiran Stephen's Manhattan Institute profile David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Related Links: *ATI: Activist Treasury Issuance and the Tug-of-War Over Monetary Policy* by Stephen Miran and Nouriel Roubini *Trump Wants a Weaker Dollar But Wall Street Doubts He'll Get One* by Saleha Mohsin and Carter Johnson *Trump Allies Draw Up Plans to Blunt Fed's Independence* by Andrew Restuccia, Nick Timiraos, and Alex Leary Timestamps: (00:00:00) – Intro (00:01:49) – Breaking Down *Activist Treasury Issuance and the Tug-of-War Over Monetary Policy* (00:21:33) – Responding to Criticism from Janet Yellen and Others (00:28:21) – Addressing Trump's Push for a Weaker Dollar (00:38:24) – Can We Weaken the Dollar While Still Ensuring Its Use? (00:43:07) – What a Second Trump Term Would Mean for Fed Independence and Crypto (00:49:19) – Outro
Interview recorded - 21st of August, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming on Ed Yardeni. Dr Ed is the President of Yardeni Research.During our conversation we spoke about his thoughts on the economy, potential for it being a new roaring twenties, productivity, normalisation of growth, interest rate decisions, impacts on markets and more. I hope you enjoy!0:00 - Introduction1:40 - Thoughts on global economy?4:40 - Why rolling recessions?11:04 - Employment data revision?13:08 - Illegal migration impact?15:05 - Normalisation of growth?17:16 - Interest Rates & Monetary policy22:38 - FED for a day?27:08 - Higher interest rates on deficit?30:26 - 90's soft landing again?32:07 - What will the FED do?34:05 - Which industries will perform well?38:11 - One message to takeaway from conversation?Dr. Ed Yardeni is the President of Yardeni Research, Inc., a provider of global investment strategies and asset-allocation analyses and recommendations. He previously served as Chief Investment Strategist of Oak Associates, Prudential Equity Group, and Deutsche Bank's US equities division in New York City. He was also the Chief Economist of CJ Lawrence, Prudential-Bache Securities, and EF Hutton. He taught at Columbia University's Graduate School of Business and was an economistwith the Federal Reserve Bank of New York. He also held positions at the Federal Reserve Board of Governors and the US Treasury Department in Washington, D.C.Dr. Ed earned his PhD in economics from Yale University in 1976, havingcompleted his doctoral dissertation under Nobel Laureate James Tobin. Previously, he received a master's degree in international relations from Yale. He completed his undergraduate studies magna cum laude at Cornell University.Dr. Ed is frequently quoted in the financial press, including The Wall StreetJournal, the Financial Times, The New York Times, The Washington Post, and Barron's. He was dubbed “Wall Street Seer” in a Barron's cover story. He appears frequently on CNBC, Bloomberg Television, and Fox Business. See Dr. Ed's market calls as reported in the financial press.Dr Ed Yardeni:Website - https://yardeni.com/Twitter - https://x.com/yardeniQuicktakes - https://www.yardeniquicktakes.com/YouTube - @YardeniResearch WTFinance -Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes -https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/Twitter - https://twitter.com/AnthonyFatseas
In the dynamic world of international trade, staying ahead of the curve is essential. Join us as we unpack the latest developments that are shaping the industry, from shifts in US sanctions enforcement to the operational challenges faced by major ports and the evolving global metal market. In this episode of the Simply Trade News Roundup, our expert hosts Annik, Lalo, and Andy delve into a range of topics that are crucial for trade professionals to understand. From the appointment of a new acting Under Secretary for Terrorism and Financial Intelligence at the US Treasury Department to the power outage challenges at the Port of Los Angeles, and the implications of China's diminishing demand for metals, this episode covers a diverse array of issues that can impact global trade, importing, and exporting. Main Points and Takeaways: 1. US Treasury Department's New Leadership: - Brad Smith has been named the acting Under Secretary for Terrorism and Financial Intelligence, responsible for overseeing sanctions and foreign relations. - Experts believe this appointment will provide much-needed direction and leadership in the enforcement of sanctions, which is crucial for US foreign policy. - Lalo expects consistent enforcement of sanctions under the new leadership, while Andy predicts a crackdown on non-compliance within the next 30-60 days. 2. Power Outages at the Port of Los Angeles: - The Port of Los Angeles has experienced nine power outages in 2022 alone, causing significant disruptions to operations. - The reliance on overhead power lines and infrastructure challenges have raised concerns about the operational efficiency and reliability of the port. - Annik expresses concern about the impact on trade and logistics, while Andy argues that California's energy policies, such as the mandates for electric vehicles and equipment, are straining the electrical grid. - Lalo highlights that the neighboring Port of Long Beach, with its preparedness measures and backup power, has experienced fewer interruptions. 3. China's Diminishing Demand for Metals: - China's overproduction of rare earth minerals has led to a supply surplus, influencing global prices and market sentiment. - While this trend poses challenges for US buyers, it also presents opportunities for more environmentally-friendly mining practices. - Lalo wonders if this surplus could impact the tariffs on steel and aluminum imports to the US, while Andy suggests that the shift away from China in global supply chains is a contributing factor. This episode of the Simply Trade News Roundup provides valuable insights into the evolving landscape of international trade. By staying informed on these critical developments, trade professionals can better navigate the complexities of global trade and identify potential opportunities or risks. Whether you're involved in importing, exporting, or any aspect of the international trade ecosystem, this episode offers a comprehensive overview of the factors shaping the industry, empowering you to make more informed decisions and stay ahead of the curve. Enjoy the show! Sign up for the upcoming Forced Labor training (Supply Chain Tracing) here: https://globaltrainingcenter.com/forced-labor-supply-chain-tracing/ Find us on YouTube: https://www.youtube.com/@SimplyTradePod Host: Annik Sobing: https://www.linkedin.com/in/annik-sobing-mba-b226251a2/ Guest Host: Renee Chiuchiarelli: https://www.linkedin.com/in/renee-chiuchiarelli-8964a19/ Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/ Co-Producer: Mara Marquez: https://www.linkedin.com/in/mara-marquez-a00a111a8/ Contact SimplyTrade@GlobalTrainingCenter.com or message @SimplyTradePod for: Advertising and sponsoring on Simply Trade Requests to be on the show as guest Suggest any topics you would like to hear about Simply Trade is not a law firm or an advisor. The topics and discussions conducted by Simply Trade hosts and guests should not be considered and is not intended to substitute legal advice. You should seek appropriate counsel for your own situation. These conversations and information are directed towards listeners in the United States for informational, educational, and entertainment purposes only and should not be In substitute for legal advice. No listener or viewer of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal advice from counsel. Information on this podcast may not be up to date depending on the time of publishing and the time of viewership. The content of this posting is provided as is, no representations are made that the content is error free. The views expressed in or through this podcast are those are the individual speakers not those of their respective employers or Global Training Center as a whole. All liability with respect to actions taken or not taken based on the contents of this podcast are hereby expressly disclaimed.
In this episode of Welcome to Cloudlandia, we have a thought-provoking discussion around AI and its future implications. We introduce Juniper, an advanced voice-based AI capable of tasks from writing to coding, giving insight into emerging technologies. We explore impacts like the attention economy, where value emerges without physical costs. Success stories like Mr. Beast showcase uniqueness and AI's potential to tackle real issues. The episode delivers a well-rounded look at AI capacities and societal changes. References to early smartphone adoption phases parallel today's AI capabilities. SHOW HIGHLIGHTS We discuss the potential of voice-based GPT-4.0 AI, specifically highlighting "Juniper" with a Scarlett Johansson-like voice, and its various applications from writing to coding. We compare the current adoption of AI to the early days of smartphones, emphasizing that we are only beginning to understand AI's full capabilities. We explore historical productivity trends, noting a decline since 1975, and question whether modern technology truly enhances productivity or just alters our perception of it. We debate the role of technology giants like Mark Zuckerberg and Tesla in shaping productivity and economic measurement. We reflect on the mid-20th century advancements such as electrification and infrastructure, and compare them to today's computing power and its economic impact. We discuss the concept of the attention economy and the creation of value from digital products without physical production costs, using digital creators like Mr. Beast as examples. We consider the potential of AI in solving real-world problems such as city traffic congestion and climate understanding, rather than just creating new opportunities. We emphasize the importance of practical solutions and specific use cases to fully leverage the capabilities of advanced AI technologies. We touch on the economic shifts in the digital era, including the rise of digital transactions and the non-tangible realm of digital innovation. We highlight the unique nature of success in the digital world, using examples like Mr. Beast and Taylor Swift, and discuss the challenges and opportunities presented by new technologies. Links: WelcomeToCloudlandia.com StrategicCoach.com DeanJackson.com ListingAgentLifestyle.com TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Dean: Mr Sullivan, who is that person that gives the directions when we start the podcast? Dan: Well, I'm not sure the one that says this podcast this call may be. Dean: You are the first one on this conference phone call, oh my goodness, who is she? Dan: Who is she? She's a bot. She's not real. She's a bot. She's not real. She's not real. She's not real, she doesn't sound. Dean: I've heard worse sounding bots. Dan: Dan, I have been experimenting, playing around with chat GPT-4.0. And I use it primarily in voice mode, meaning, you know, I just say things to it and it has an amazing Scarlett Johansson-like voice that has zero, not at all like Siri or Alexa. You know where those voices definitely sound like. They are bots. This, my GPT-4O I think her name's Juniper is the voice that I chose. She sounds like a real person, I mean, and has like real tone, real inflection, real like conversational feeling to it and I realized that I don't think we really understand what we have here. I mean, I look at it and I think, imagine if that was a real person. Dean: Now, when you say we, who are you talking about? Dan: I mean the collective royal we I I'm sorry I've never been around yeah, I just think we as a when I say we, we as a society or we as the people collectively using this, it reminds me of this Seinfeld episode where Kramer got this or Jerry got his dad, this wizard organizer, and they always use it as a tip calculator, like the least of all the functions that it has. They're just excited that it's a tip calculator, and I feel like that's the current level of my adoption of Juniper. Dean: Yeah, I think the big thing is what you let's say, a year from now, level of my adoption of Juniper, you know, yeah, I think the big thing is what you let's say a year from now. You're using Juniper for a year. What do you think will be different as a result of having this capability, new capability? Dan: Well, I think it's operator, you know, I think it's operator dependent, you know, I think it's up to me what I think if you said to me. You know, I think it's up to me what I think if you said to me listen, I'd like to introduce you to Juniper. She's going to come here and she'll be within. She's going to follow you around. She's going to be here within three feet of you or discreetly out of sight, whatever you, but whenever you call she'll be right there. She is a graduate level. She is a graduate level student. She could pass the bar. She knows everything that's ever been recorded, she speaks every language. She never sleeps, she can write, she can draw, she can do graphics, she can do coding Whatever you like, and she's yours 20 to a month. Have fun, yeah, do you think you'd use it Well? that's my question is that it feels like I'm not using it and I have it. That's essentially what I have. I've got it in my pocket. You know how they said. You know the iPod was launched with the promise of a thousand songs in your pocket. Well, I think this is really like. You know, an MBA or a PhD or whatever you want in your pocket is essentially what we have, and I find it very interesting. Dean: No, I think it's unique, you know, and it's brand new. But what problem did you have that this solves? Dan: Well, I think that it's not per se a problem, but I think that we're I really have been observing and thinking, and I've said it you know in lots of our conversations, that I think that 2020, you know, if we take the 50-year period from 1975 to 2025, that we've pretty much set the stage now for a new plateau launch pad kind of at the same time. I don't. I think that once we understand and people you know, I think it's almost like the iPhone had the app store, that became what Peter Diamandis called the interface moment. Right, that was the you know, that allowed, once people realized that the capabilities of the iPhone to both measure geographically where you are at any precisely at any moment, the gyro thing that can detect movement, the sound, the camera capabilities, the touch screen, all of those things, Well, people realized what the baseline capabilities of the phone were. They were able to architect very specific, you know, starting with games very specific ways to use the capabilities that are very specific ways to use the capabilities that are built into the phone and I think that right now it's almost like it can do anything, and I think that we need to figure out the very specific use cases and I think we'll see people. Dean: You keep saying we, but I don't think we is going to do it. I think you know, who we are. Do we have a cell phone number? Do we have a street address? You know, I think you're having a very interesting personal experience with the new technology. Yeah, I don't know, I don't know if anybody else is going to be in on this, but the big thing is, how are you going to set it up so that you can prove that this is valuable? I mean, let's say, three months from now the time you come back to. Toronto for your next strategic coach pre-zone workshop things you're going to test out and see if the inclusion of this spot with a very sexy Scarlett Johansson voice. This isn't the issue that she sued somebody for. Dan: I think it's, I don't know actually this voice is. It's not exactly her, but it's, you know, it's that tone and things. Dean: So yeah, so. Dan: I don't know that. It's a pleasing voice, much more pleasing and personal than Siri or Alexa, for instance. Yeah, but yeah, I think you're absolutely right it does come down to and I think that's where the paralysis of you know the it can do anything, but you know what would be you know where my mind goes. Dean: It's which, how that I already have, but am I going to assign this capability to so that I don't have to spend any time whatsoever interacting with this bot? But my who's a you know who's a live human being working for a strategic coach would that person actually work? Do this, you know, and actually and I tested out for three months what are you getting done faster? So, for example, we have an AI newsletter that rewrites itself every two weeks and chooses new content, designs it and goes out and it uses up one hour of my Linda Spencer, who's one of my team members on the marketing team, and it's very interesting, I mean we have about 2000 people who read it and they grade it and everything like that. But the only thing I have to do every two weeks she said here's the news, here's the results from the last newsletter, here's the design and contents of the next newsletter, yes or no? And I'll go through. I say, yeah, looks good, send it out, right. Yeah, now, that's not freeing me up, because we never had this capability before. It's a new capability, right, and it's been going for about nine months now and people will talk to me about it and you know everything like that and everything like that. But I haven't seen that it's made a huge difference in the crucial numbers of strategic coach, which are marketing calls. Are we generating great leads that people are talking to us about? Are they signing up for the program? Are they whatever? So the normal measurements. So I think, with any technology, the first thing I would establish before I got interested in the technology is what are the crucial numbers that we have that tell me that our business and myself are moving forward? And then, whatever I'm going to use the new technology for, it has to have an impact on those numbers. Yeah, I think that's yeah, because you know the amount of productivity. I'll use the United States as an example. You mentioned 1975 to 2025, 50 years of individual productivity in the United States was much higher in the 50 years before 1975, since it has been for the last 50 years since 1975. Even though there are these amazing books and that about how productivity is going through the world with the microchip. But the actual numbers which are gathered by the US government, the US Treasury Department, us Department of Labor, indicates that the level of individual productivity has actually gone down in the last 50 years even though the excitement level of productivity has gone through the roof. Dean: By what measurement? What are they deciding? Is product? Dan: Dollars of economic activity per hour per worker. Okay, that's how productivity is measured. Dean: The number of workers. Dan: You have the number of hours they work and the amount of economic dollars that their hour of activity produces. The productivity was much higher total for the entire all workers. Dean: But is it all productivity or personal productivity? Like are you saying no all? Dan: productivity? No, the entire GDP of the economy, measured by the number of workers. Yeah, okay by the number of workers it's going down, it's down. No, yeah, since 1975, it's not as great as it was from 1925 to 1975. So that 50-year period the productivity levels in the United States were bigger than the last 50 years. Dean: Wow, that seems. That's surprising. What do you think that means? Dan: Well, a lot of people are really excited and involving themselves in technological activity that produces absolutely no productivity. Yeah, they're very excited, they're very excited and they're getting very emotionally connected to this activity. But you know, I'm not saying that's not a great thing, I'm not. Maybe they're having more fun, Maybe they're you know, maybe they have. Dean: What actually counts as GDP. Dan: Well, GDP is amount of sales amount of sales. Dean: Okay, so would the advertising sales that Mark Zuckerberg makes for Facebook count as GDP, or is it only in physical, like you know, shippable goods, or whatever? Dan: Well, whatever, uh, you have a dollar spent on something that constitutes a sale to sale. Dean: Okay, so advertising, so Google and Facebook and Netflix and all of those things count as GDP? Sure, okay, all right, then that seems impossible. Dan: It seems impossible, but it's true. Dean: That's pretty wild. Dan: Yeah yeah. I'm not saying that Mark Zuckerberg isn't making a lot of money. I'm not saying Mark. Zuckerberg isn't productive. My feeling is that the technology is created, makes a lot of other people non-productive. Dean: Yeah, and I wonder I mean that's a do you think you know if you measured that in terms of the total population versus the workforce? Is that what? In terms of the total population versus the workforce, is that what you know? I'm just looking for some explanation of this right. Dan: Somewhere along the line, there has to be an economic transaction for it to constitute and everything else. See, this is the difference. Yeah and everything else See this is the difference? China talks about its GDP, but they don't use the same term that everybody else in the world uses. They use the economic value of what they've produced. So they can produce a million machines and they're sitting in a warehouse and they count that as GDP gross domestic product. But there was no sale, it's, you know, they spend it, it was an economic activity. There was a transaction there, but there was no sale. So I think that's the big thing. It doesn't count unless there's a sale. Dean: GDP, doesn't it? Dan: doesn't count as GDP unless there's a sale. Somebody makes money, yeah. Dean: Okay, money Okay, yeah, yeah, I mean, it's pretty. Dan: No, I'm not saying it's not exciting. And here's the. Dean: Thing. Dan: Maybe it's an A&I, it's what I would R&D stage. The last 50 years have been R&D stage. For the next 50 years, which are going to be 100 times bigger of GDP. Okay, that may happen, but it's not happening yet. Dean: Yeah, yeah, I mean it's pretty, yeah, it's pretty wild. I mean you can definitely see, like the capabilities of you know, you can definitely see this replacing many customer service interactions, for sure. For instance, it's like a you can definitely see that going away, that there's not going to be a need for humans manning a customer service telephone center, for instance you know, yeah, I mean if it's good, I mean if it's good you know, and it depends upon the service that's being talked about, but if it's good, you know, maybe it does See, efficiency is not effectiveness. Dan: You know, and effectiveness is that you made a sale. Efficiency is we took all the activities leading up to a sale and we made them more, faster and easier. Yeah, the question is did you get a sale out of it? Dean: Mm-hmm. Dan: Mm-hmm, yeah, so. I don't know, but I think there's a bit of a magician show going with a lot of different kinds of technology, you know. I mean, it was like somebody was saying, you know, they were talking about EVs and specifically they were talking about a Tesla, and specifically they were talking about a Tesla. And he says do you know how much faster zero to 60 is in a Tesla than any gas-powered? Or you know, and I said, to tell you the truth, I don't know. Dean: To tell you the truth. You know. Dan: Geez, you know All the things I've been thinking about since last Monday. I'm sorry, I just didn't get to that one Anyway. And he says well, it's easily a second faster. I said good. I said now, where do you do this? There isn't any way. We're in greater Toronto, the area of greater. Toronto 6 million people, where you can go from 0 to 60 on a city street in two seconds. You know and everything like that. He said, yeah, but boy, you know, I mean, just think of that, how much faster you can go. And I said, yeah, but Teslas don't go any faster in Toronto than any other car, that's true, and usually they're stopped. Dean: Yeah, that's exactly right yeah. Dan: So I think the Tech Magic Show, I think it multiplies people's imagination, but it doesn't multiply their results. You know, I think there's something about it. And I think this is great. I mean what you're telling me. I've had some really boring people on the other end of a phone call and Scarlett Johansson would really liven it up a little bit. Dean: Absolutely yeah, yeah, exactly. Dan: Yeah, I was noticing that Cleveland hired Jack Nicholson and they still use it. It must have been 20 years ago. All the announcements, the regular announcements like don't leave your bags unattended, and things like that, oh right. There's a whole bunch of just what I would call airport announcements, and they have Jack Nicholson doing it and you stop and listen every time it starts. You know it's very effective and I'm sure and I'm sure Scarlett, I'm sure Scarlett Johansson would do a good job too. Dean: Absolutely. Yeah, yeah, it's so, it's so funny. I mean, that seems. I'm just dumbfounded by the fact that productivity has decreased in the 50 years that we're talking about here. Dan: Yeah Well, think of the 50 years, though, and you gave me that great book. Dean: Yeah, you gave me the book that was 1900 to 1950, 1925. Dan: But 1925 to 1975, the entire country was being electrified. They're laying in lines and everybody was the farm that I was on. I was born in 1944. That farm was electrified in 1928. So it was only 16 years that they had electricity. Right, and you know they were putting in the entire water systems. The Tennessee Valley Authority was putting in all these dams and the electric plants. You know Lake Mead as a result of the Hoover Dam. They were putting in all those dams and that just produced enormous jumps and the cars were going in, the gas systems, all the infrastructure for gasoline was going in. It was just a monstrously productive period of time. And then all the production that went into the second world war, which they then had as productive capability after the war stopped and so they had all the manufacturing capabilities you know and you know and so. But there's to see the thing is, the real jump that's happened is the jump in computing. There's no question. Dean: There's been a monstrous jump. Dan: It's a billion times since 1970. It's a billion times. That doesn't translate into money, and money is what productivity is based on. How much more money are you making per hour of human labor? How much more money are you making for our human labor? Now maybe somebody will say well, we got to start counting the robots in our GDP. Something is doing work. Yeah, Just I mean wow, wow, wow, the only problem with you know the only thing about robots, though they're shitty consumers. Dean: Yes, exactly that's so funny. Yeah, they don't buy anything you know. Dan: Yeah, A computer is a good worker, you know. It doesn't take breaks, doesn't get sick you know doesn't form unions anything. You know it doesn't go home, it doesn't have a house, doesn't have furnishings doesn't need furniture doesn't go out to eat. Dean: Right, right. We're definitely in a stage right now where there's opportunities more than ever for economic alchemy, creating money out of nothing, seemingly compared to 1975. I'm not sure how that happened, I think, since in the digital world we're essentially creating money out of ether, you know, out of attention, even in a way that if we just take the attention economy or the portion of the money that is derived from the advertising world in, where it was print ads, television ads, radio ads those were things that were kind of happening in 19, right and, but they were selling sort of physical goods, whereas now I remember having a conversation with Eben Pagan about this, when I did a book Stop your Divorce in 1998, when it was when PDFs were just coming to be a thing where you could create a digital document that didn't require printing a physical book and you could email that or somebody could download it. And I just realized that you know, in that we've literally sold $5 million of a picture of a book not physically printing. These thousands and thousands of books, it's literally no zero physical good. That's why I wondered about whether the GDP is only measuring you, because we're definitely in a time where you can create money from nothing and the way that was driven was from Google AdWords. Dan: You can't create anything from nothing. No, I mean nothing physical, any. You can't create any. I don't think you can create anything from nothing there. No, I mean okay, nothing physical. Okay, that's what I mean. Dean: Yeah, like you look at it, that the book, you know we created the book and turned it into a pdf that was put on a website that there's no physical manifestation of it's, only digital. You can only see it online. People would search on Google for save my marriage or how to stop a divorce, or any of the keywords we could magically get in front of those people on their screen. They could click oh, stop your divorce, how do I do that? They click on that. They read this digital. It didn't cost anything other than what was paid for was that we paid google for the, you know, for sending that, you know the ability to display that person, that opportunity to somebody. We paid google every time somebody clicked on that ad and then they would buy the book and it would automatically take them to a page to download the book. There was no inter, no human interaction and no physical exchange. It was all 100 digital and that was where, you know, I started referring to that as alchemy, really like creating money out of of bits. You know, yeah, yeah, that's so that. Dan: Yeah, I think there's no I think there's uh no question that we've moved into a what I call a non-tangible realm of creating value, creating property and everything else, but at the end of the day it all adds up somewhere where this constitutes an economic transaction and as far as the accountants care, they don't care whether it was something physical or sold or everything. There's taxes that are taken out of that. I don't see the remarkable difference. You're using a different medium, but there is work that goes into that. And you had a big payoff with one, but there were another thousand people right at the same time you were doing that and their results? They put in a lot of work, they put in a lot of effort and it didn't produce any money whatsoever. Efforts go into GDP, your efforts go into GDP and there's way more of them than there is of you. So it brings you the overall results down and you know so and we kind of know. We kind of know that. You know productivity numbers. You know, like, on a year I know people talk about well, that productivity is going to go up by 20% as a result of that. Well, that may be true for a single company, but that's not true for the industry they're in, because their new thing going up by 20% may actually make obsolete 5 or 6 or 20 other companies who have had productivity that a year before, but now they have no productivity at all. So their loss of productivity is balanced against the gain of productivity. Dean: Yeah, that's interesting. I guess you think about that. That could be true in all the casualties of the digital transition here, right Like, what do you look at? Dan: Well, certainly the advertising world, certainly the advertising world, I mean before Mark Zuckerberg and before Google, newspapers like the New York Times. Dean: Daily. Dan: Edition was very thick. Dean: Yeah. Dan: And half of it was advertising. Now it's very thin okay because, they don't have the same. Yeah, but there's winners and losers, you know, in this, and you have a technological breakthrough, you have far more losers than you do winners. Dean: Yeah, I'm looking at like I was just listening to an interview with that Tucker Carlson did with someone I forget who, some former CBS correspondent you know, and they were talking about the new. You know what's really changed now is the reach capabilities you know, like Tucker really primarily being on his own platform but using the reach of x has, you know it's the audience is accessible to everybody, as opposed to him in the beginning of their careers, the only way to get reach was to be signed to a, a digital, or assigned to a traditional network where the eyeballs were. But, now the eyeballs are accessible to everybody and it really becomes these are my words, but it's more of a meritocracy in a way that you're you know that it's available for everybody. The cream definitely can rise to the top if you've got a voice that people resonate with. Dean: Yeah, I mean, and Tucker's a star, tucker's a star. He's got his following, he's got probably a couple million followers. Whatever he was big when he was on Fox and he had the top numbers on Fox and everything like that, but there aren't two of them. Dean: Right, and you can't replace him with an AI either. Dean: No, but what I mean is we pick out the winners. It takes a lot of losers to get to a winner, you know and I think this is more extreme in the Cloudlandia world than it is in the physical world- you know. I mean, I think there's a thing called network effect and the network effect is you can only have one Amazon. Basically, you can only have one Amazon. Because, the nature of Amazon is to suck everybody's customers up into one destination. There aren't five Amazons competing with each other, and that's what digital does. A person like Taylor Swift couldn't have existed 20 years ago. They wouldn't have had the reach. Yeah, that's true, and she's got the reach today. I mean she's coming along and she's got a lot of things going for her. She's very attractive, she's very productive, she pumps out songs all the time and the songs seem to resonate with a mood in the public right now. And everybody's got their cell phones and everybody's got that. And what I'm saying is, if you have one Taylor Swift, you can't have two. Well, yeah, that's. Dean: I mean it's, I wonder you start to see that she's just a, she's one voice, right Like I look at, I've been following rabbit holes like up the chain. You know and I start so Taylor Swift is a good example that many of her biggest hits and biggest success have been in collaboration with Max Martin, who is a producer who I often talk about and refer. Second, he's got the second biggest number of number one songs to his credit, right behind. He just passed Paul McCartney or John Lennon, and only Paul McCartney is ahead of him. Now he's about five songs behind Paul McCartney. What I realized is, you know, there's a way that it's kind of like you get max martin's voice is really what is, you know, behind most of the the most popular music, or much of the most popular music, and yet not many people could pick him out of a lineup. And then then I went another layer up. It just dawned on me, like in the last couple of weeks here, that the real catalyst to Max Martin's success was Clive Davis. Who is? Do you know who? Clive Davis is the former, or still, record executive. Dean: He was the head of so far, your records so far. So far, you're introducing me to a lot of new people. Dan: Okay, great well, I, I just love this that. You know, max martin, I've been saying, as that's the thing, like you think about one thing Max Martin's one thing has been making hit records. Right, that's all he's done. Making pop songs since 1996, or what is first number one. But if you trace it all the way back, the catalyst to it because he was in Sweden, there was a group years ago called Ace of Bass and they had a number one song. But when you go all the way back to how that happened, it was because Clive Davis, who was the head of Columbia Records and all its subsidiaries, arista and Jay Records, and all its subsidiaries, arista and J Records and all of these things, he found that song. He's like a guesser and better. He was guessing that song is going to be a hit and he signed Ace of Base to bring them to America. So he plucked this obscure Swedish band out of and brought them to America and on the wave of that, created the opportunity for Max Martin to work with all these great artists that happened to be under the direction of Clive Davis. And if you go even one layer beyond that, the guy that owns Bertelsmann, you know G Music Group in Germany. They own almost all the record labels, kind of thing. It's him seeing Clive Davis and putting up a million dollars for Clive Davis to start this record label. It's amazing that it all, kind of you know, goes back to capital allocation. Dean: But the big thing is none of that has to do with any productivity. Dan: Yeah, that's the thing I wonder, you know, I mean that really. Dean: No, well, what you're talking about is. You mentioned a name. Yes, and he does this and he's very successful and he's famous for being successful. But at the same time that he was doing what he was doing, there were 9,999 who were waiting on tables and doing this on weekends and nights, yeah, okay, and they weren't making any money at all. So what. I'm saying is when you pick a winner out and you see, see how productive they are using new technology you also have to account for the people who are using the new technology and not making any money at all, and therefore it's not more productive. Yeah. Dan: Yeah. Dean: And I mean, you know we haven't talked about him for a while, Mr Beast. Yeah, and people say, see what you can do when you're 18? You won't see anything because he's so unique. And he has such a set of circumstances that there's nothing that he does that is repeatable by another person. Dan: I mean, yeah, he just became just in the last, I haven't heard anything about him. Dean: Is he still doing stuff? I don't know. Is he still doing stuff? I don't know. Is he still doing stuff? Yeah, yeah, he just became. Or is he retired at 28? Dan: No full steam ahead. Dean: He's got a 300-foot. Dan: He just became the number one subscribed channel in the world. He was the number one individual but there was this T-Series channel in India, which wasn't a person a different thing. Now he's the number one thing. He's now working on an Amazon show. He's taking his stuff to to amazon still full steam ahead with his, with his videos, but he's doing a big game show series in uh with under the amazon banner yeah, yeah, yeah. Dean: it's really interesting because you know again I go back that it seems to me that a lot you know and I've made this statement before is that a new technology comes out, or a new form of a new technology comes out. A whole series of people say I'm going to create a new company based on this technology and I want you know, I need some early investors. I need investors to get there, and so there's a whole industry for doing that in Silicon Valley and other places, and so billions are raised, not just for the one you know, not one investment, but for let's say 50 investments. And none of them go anywhere, none of them go anywhere. Dan: You know, nothing happens, okay, but people did make money because it's based on a Ponzi scheme kind of thing that the early investors get paid out by the late investors who end up pulling nothing and everything else. Dean: None of that represents productivity. Right A lot of action, a lot of excitement, a lot of money, but no productivity. And we're seeing that with AI. Goldman Sachs, the big investment bank, came out that, going on two years since open AI, we just don't see that there's any money to be made with this, except if you're like the chip maker, NVIDIA. They make a lot of money and they're very productive, and I think the reason is that I think that AI, if I look at the next 10 years, I think it's going to be very effective, it's going to be very useful and it's going to be very important for solving complexity problems that we already have on the planet. Okay, and you know, a great example is just large city congestion complexity, like Toronto, I think, may have the worst traffic congestion in North America. Dan: I did notice a big difference in that, even in the five years since I was there. Dean: Yeah. And the main reason is that they're making new cars, but they're not making new roads. Dan: Yeah, and I noticed that they've actually added a lot of bike lanes too, which have taken out some of the actual lanes. Dean: Yeah, Actual lanes, yeah, yeah, so without some new kind of solution to congestion and I think AI is the perfect tool for this and that all the traffic lights, all the traffic lights in the city are a single system and you're just changing the frequency of the lights changing and everything around the car changing the frequency of the lights changing and everything around the country, and there's a sort of a master view, how you know you can reduce the amount of people just stuck in the city by 40% if we just get all the lights. That's a complexity problem. Dan: You know and for example. Dean: The other thing is they haven't. You know, for all. The study of weather is probably the most complex system that we have on the planet and to this day they have no notion what effect clouds have on climate. You know they don't. They really. Clouds are just very complex. So if you had the ability to, I mean, they know different types of clouds and different things that happen when you have different types of clouds. They know that, but there's no unification of their understanding of the cloud system. And so you'd have to apply it to that. Now, you're not creating anything new with this. You're solving an existing problem. With this, you're solving an existing problem. My sense is that the best use of technology is always to solve some problem that you already have not create a new opportunity that's interesting. Dan: So maybe that's how I mean yeah, go ahead. I was just saying maybe that's how I should be thinking about my relationship with juniper yeah, what? Dean:what complexity problems do you have? Dan: Exactly what complexity problems do I already have that Juniper could solve for me? Dean: Yeah, like getting out of bed in the morning. That's a complexity problem. When does my first coffee arrive? Exactly yeah, why am I still thinking about this? Why at this late date. Dan: Oh man, that is so funny. Dean: It is funny. Dan: The funny thing is I posted up on Facebook right before we got on our podcast today. I took a picture of my. I have these. I have these Four Seasons Valhalla coffee cups and I took a. I made a coffee before our here and I posted up a picture of it right Pre-podcast caffeination, prior to the prior to our podcast here. So I'm fully caffeinated. I'm on the, I'm on the juice. Dean: Yeah, I will tell you this. Chris Johnson, great thinker in the FreeZone program he's got it's not his system, he's licensed his system from someone else but he had 32 callers to set up meetings with their primary salespeople for his company and he's in the placement business. He finds really good high-level people to go into construction companies and engineering companies. And he was telling us that his 32 human callers could make 5,500 phone calls and produce a certain result in a day of phoning. And since he's brought in his AI system, they can do 5,500 in an hour and produce a better result of people agreeing to phone calls. Well, that's productivity. Dan: Yeah, I guess. So yeah, pretty amazing huh. Dean: And he let go his 32 humans. Oh, my goodness. Wow, so this is AI making outbound phone calls? These are all AI and they've got complete voice capability of responding to responses and everything else. And then they get better every day. They have sort of upgrades every day for it. And that's productivity, that's productivity. Dan: Yeah, there's, yeah, that's a. That's an amazing story. An amazing story, I mean, you start to see, I just look at the things, even when we had the AI panel at FreeZone in Palm Beach. You're just seeing the things, even what Mike Kamix is able to create and the things that Lior is doing. You just think, man. Dean: I think we're early. Dan: Yeah, absolutely, we're early. Dean: Yeah, I mean I think we're in the first or second year of the internet with us, right? Dan: Exactly, I agree. That's why I say, that's why, in my summation here, I'm kind of thinking you know 2025, give it another 18 months. It's only 18 months old now when you really think about it. Right, this is it's 18 months, and give it another 18 months and we'll see that people you're already starting to see that people are taking the AI capabilities and they're honing it into an interface. That is, a logo maker, for instance, or AI. You know that it's already honed into the ability to specialize in making logos based on your prompts, or and I think that's where that's what I meant by the interface moment is people are going to start carving out, packaging very specific outcomes from the capabilities. Like, if we have these capabilities, what can we do and just deliver that specific outcome, rather than the capability to create that outcome that's why it's funny that that's kind of parallel to what I've been saying. I've seen people that are taking and training large language models based on your you know, all of the you know let's call it all the Dan Sullivan content that's been out there and then touting it as you know, having Dan Sullivan in your pocket, that you can ask Dan anything of it in your pocket, that you can ask Dan anything. But I think the ability to ask you anything isn't as useful as the ability to have Dan ask you things. Yes, I think that's the question. Dean: So in the last quarterly book, and the one we're finishing right now. So it was everything is created backward, where the tool we featured was the triple play, and then the next one is called casting, not hiring, where the tool is the four by four casting tool. We call it the four by four casting tool, and this is where I'm asking them questions. Dan: Right, okay. Dean: I don't see any value whatsoever of them asking me questions. Dan: Right. Dean: Because I'm not getting the benefit of the question. Some software program is handling it, so I'm not learning anything and I've got a rule that I don't involve myself in any activity where I don't learn something new. Dan: Okay. Dean: So there's getting the benefits, but plus we'd be competing with ourselves. Dan: I love it All, right Well off, we go. Dean: I will phone you next week I'll be at the cottage. I'll be looking out at a mystic blue lake while I'm talking. Dan: Oh, wow. Dean: It's really good yeah. Dan: Awesome. Well, have a great week, okay, and I'll talk to you next week. Thanks, thanks, dan. Bye.
Today we discuss the recent proposal by the US Treasury Department to close a major tax loophole for wealthy taxpayers, aiming to raise $50 billion over the next decade. He emphasizes the importance of understanding the true impact of such policies and the division they create among citizens. Ridgeway critiques the government's approach and encourages listeners to seek financial wisdom and unity in their Christian faith.Understanding Tax Loopholes:The US Treasury's proposal targets the practice of partnership bias shifting, where assets are moved among related parties to avoid taxes. This method has become common due to years of underfunding the IRS, resulting in less oversight of wealthy individuals. By closing this loophole, the government hopes to raise significant revenue, but it also highlights the imbalance in tax audits focused more on the average citizen.Division and Hierarchy:Drawing parallels with the Willie Lynch letter, Ridgeway discusses how division and hierarchy are used to control and manipulate. He warns against falling into the trap of viewing the wealthy as enemies and stresses that such divisions distract from addressing the real issues. Unity and understanding are key to overcoming these societal divides.Christian Perspective on Wealth:As Christians, Ridgeway urges listeners to consider how they view wealth and taxes. He emphasizes that being rich in spirit and righteous in action should be the focus, rather than harboring resentment towards the wealthy. Understanding and compassion are essential in navigating financial and social issues.Taking Advantage of Legal Tax Strategies:Ridgeway highlights the importance of utilizing legal tax strategies, such as contributing to IRAs and 401(k)s, to reduce taxable income and save money. These strategies are available to everyone, not just the wealthy. He encourages listeners to educate themselves or consult professionals to maximize their financial benefits and ensure they are not unfairly burdened by taxes.Quotes"The government wants you to believe the wealthy are the enemy, but in reality, the real issue is how the government misappropriates the taxes they collect.""We are in an era of tribalism where if you are not like us, you are the enemy. And I am pretty much sick of it.""As Christians, we need to focus on being rich in spirit and righteous in action. There is only one side that matters—God's side."
Today we discuss the recent proposal by the US Treasury Department to close a major tax loophole for wealthy taxpayers, aiming to raise $50 billion over the next decade. He emphasizes the importance of understanding the true impact of such policies and the division they create among citizens. Ridgeway critiques the government's approach and encourages listeners to seek financial wisdom and unity in their Christian faith.Understanding Tax Loopholes:The US Treasury's proposal targets the practice of partnership bias shifting, where assets are moved among related parties to avoid taxes. This method has become common due to years of underfunding the IRS, resulting in less oversight of wealthy individuals. By closing this loophole, the government hopes to raise significant revenue, but it also highlights the imbalance in tax audits focused more on the average citizen.Division and Hierarchy:Drawing parallels with the Willie Lynch letter, Ridgeway discusses how division and hierarchy are used to control and manipulate. He warns against falling into the trap of viewing the wealthy as enemies and stresses that such divisions distract from addressing the real issues. Unity and understanding are key to overcoming these societal divides.Christian Perspective on Wealth:As Christians, Ridgeway urges listeners to consider how they view wealth and taxes. He emphasizes that being rich in spirit and righteous in action should be the focus, rather than harboring resentment towards the wealthy. Understanding and compassion are essential in navigating financial and social issues.Taking Advantage of Legal Tax Strategies:Ridgeway highlights the importance of utilizing legal tax strategies, such as contributing to IRAs and 401(k)s, to reduce taxable income and save money. These strategies are available to everyone, not just the wealthy. He encourages listeners to educate themselves or consult professionals to maximize their financial benefits and ensure they are not unfairly burdened by taxes.Quotes"The government wants you to believe the wealthy are the enemy, but in reality, the real issue is how the government misappropriates the taxes they collect.""We are in an era of tribalism where if you are not like us, you are the enemy. And I am pretty much sick of it.""As Christians, we need to focus on being rich in spirit and righteous in action. There is only one side that matters—God's side."
Ami Kassar is the Founder and CEO of MultiFunding, a company helping businesses achieve their growth goals through creative and personalized funding solutions. He authored The Growth Dilemma, is a regular contributor on the current state of the financing market through his weekly articles in Inc., and has provided valuable advice to the White House, the Federal Reserve Bank, and the US Treasury Department. Ami has been interviewed by numerous national publications, including The New York Times, Huffington Post, The Wall Street Journal, Entrepreneur, and Forbes. In this episode… In a dynamic business landscape where financial challenges can make or break a company, how do entrepreneurs effectively navigate the complexities of business financing? This is a question that many business owners grapple with as they seek to grow and stabilize their ventures. According to Ami Kassar, a renowned expert in business finance, the key lies in understanding and strategically utilizing various financing options, such as SBA loans and debt management techniques. Ami emphasizes the importance of a clear understanding of one's business model, the right approach to equity investments, and the necessity of adapting financial strategies in response to changing market conditions. This approach to financial planning not only mitigates risks, but also paves the way for sustainable growth and resilience in the ever-evolving world of business finance. In this episode of the Inspired Insider Podcast, Dr. Jeremy Weisz is joined by Ami Kassar, Founder and CEO of MultiFunding, to delve into the intricacies of business financing. They discuss strategic approaches to managing debt and leveraging SBA loans, the impact of equity investments on a company's financial options, and practical tips for adapting to economic uncertainties.
Dan Katz and Stephen Miran are former senior advisors for the US Treasury Department and are currently adjunct fellows at the Manhattan Institute. Dan and Stephen have also written a new paper titled, *Reform the Federal Reserve's Governance to Deliver Better Monetary Outcomes,* and they join Macro Musings to talk about this paper and the proposed reforms for the Federal Reserve outlined in it. Specifically, Dan, Steve, and David discuss the ever-expanding reach of the Fed, its role as debt manager and bank regulator, the current issue with the central bank's personnel, and a lot more. Transcript for this week's episode. Stephen's Twitter: @SteveMiran Stephen's Manhattan Institute profile Dan's Twitter: @DanielScottKatz Dan's Manhattan Institute profile David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Related Links: *Reform the Federal Reserve's Governance to Deliver Better Monetary Outcomes* by Dan Katz and Stephen Miran Timestamps: (00:00:00) – Intro (00:04:20) – The Fed's Issue of Picking Winners and Losers (00:09:17) – The Fed's Role as Bank Regulator (00:12:53) – The Ever-Expanding Reach of the Fed (00:17:50) – The Fed as a Debt Manager (00:23:33) – What Should the Fed Do in a Zero Lower Bound Environment (00:27:26) – Personnel is Policy: The Issue with Fed Personnel (00:29:55) – Options for Personnel Reform at the Fed (00:38:22) – Making the Fed President Selection Process More Robust (00:47:28) – The Nature of Debate at the Fed (00:50:53) – The Scope for Change at the Fed (00:53:21) – Outro
Bloomberg Radio host Barry Ritholtz speaks to Dr. Ed Yardeni, President of Yardeni Research, Inc., a provider of global investment strategies and asset-allocation analyses and recommendations. He previously served as Chief Investment Strategist of Oak Associates, Prudential Equity Group, and Deutsche Bank's US equities division in New York City. He taught at Columbia University's Graduate School of Business and was an economist with the Federal Reserve Bank of New York and at the Federal Reserve Board of Governors and the US Treasury Department in Washington, D.C. See omnystudio.com/listener for privacy information.
Saleha Mohsin is a senior Washington correspondent for Bloomberg News, where she covers policy, politics, and power in Washington, DC. Saleha is also the author of a new book titled, *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order,* and she joins David on Macro Musings to talk about it. Specifically, David and Saleha also discuss the intelligence and enforcement tools of the US Treasury, the basics and importance of SWIFT, the effectiveness of US sanctions, and a lot more. Transcript for this week's episode. Saleha's Twitter: @SalehaMohsin Saleha's Bloomberg archive David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Related Links: *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order* by Saleha Mohsin *The Big Take* hosted by Saleha Mohsin Timestamps: (00:00:00) – Intro (00:03:43) – The Weaponization of the Dollar on the Global Stage (00:08:55) – The Intelligence and Enforcement Tools of the US Treasury Department (00:13:10) – Breaking Down SWIFT and Its Importance (00:18:27) – Sanctioning Russian Oligarchs (00:22:42) – The Importance and Significance of Robert Rubin (00:25:29) – The George W. Bush of the Treasury Department (00:37:42) – Breaking Down the Joint Comprehensive Plan of Action (00:41:06) – The Trump Administration, China, and the Rise of Populism (00:45:30) – Evaluating the Effectiveness of the Russia Sanctions (00:51:18) – Threats to the US in the Future (00:52:48) – Outro
[EU S14 E13] Resurgent Labor Organizing In The South This week's Economic Update Professor Richard Wolff discusses the US Treasury Department charges Apple as monopoly, Georgia's state government sides openly with employers against unions, two union members decide to enter important elections as independent voices in Nebraska and West Virginia, and a critique of the FED's policy that keeps inflation and interest rates high. Finally we Interview Mike Elk, publisher of the Payday Report, on his views regarding the important UAW fight for union recognition at VW plant Chattanooga, TN. The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community: https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else. We want to thank our devoted community of supporters who help make this show and others we produce possible each week. We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info
The US is on a fiscally unsustainable path, which has dire implications. Tough words, but they aren't mine, they are those of the US Treasury Department. Those who can absorb these ideas and respond early tot heir implications have the best chance at a more prosperous future.
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