Its The Economy, Stupid - Economic & Business News From Around The World

Fwiffo said:
NY and Philadelphia feds don't agree.
Click to expand...
Literally in the first two paragraphs of the article:

Yves here. While alarmism is entertaining, it can also be fully warranted. We’d seen some economic oriented sites comment on how the Atlanta Fed’s typically pretty accurate NowCast was sending recession warnings. But until we say the chart in the post below, we had no idea how severe the downward reading was. Yikes!



The chart below also makes clear that the Atlanta Fed forecast is an outlier. But consensus views are often wrong at inflection points. Remember the how finance talking heads were saying in 2007 that we were in a Goldilocks economy? That the Fed was engineering a soft landing?
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If all feds are saying the magic 8 ball is murky and one is saying the magic 8 ball says I'm screwed, are we supposed to believe the one guy?

Besides no one can forecast anything right now because the President likes to roll out new policies every day and we're not entirely sure which ones are actually fully implemented...if at all. That's Jerome Powell's take.
 
www.nbcnews.com

Trump threatens to double tariffs on Canadian steel and aluminum in response to electricity duties

The province of Ontario had placed a 25% tariff on electricity imported by the U.S.
www.nbcnews.com www.nbcnews.com

"Trump posted to his Truth Social platform that the tariffs would go from 25% to 50% starting Wednesday, a move that comes in response to the province of Ontario placing a 25% tariff on electricity coming into the United States.

Trump added that he would be declaring a "national emergency" for the three states Ontario has targeted so that the tariffs could go into effect.

'The only thing that makes sense is for Canada to become our cherished Fifty First State,' Trump wrote. 'This would make all Tariffs, and everything else, totally disappear.'"

Aldogiovanniegiacomo GIF by Futura asd
 
Harvard becomes more accessible and is digging into its $53 billion endowment.

$100,000 family income and below, with typical assets: Free

Financial aid covers all billed expenses, including tuition, fees, food, housing, and more, including a $2,000 start-up grant (first year), health insurance (if needed), travel costs between campus and home, winter gear, event fees, and other activities, and a $2,000 launch grant (junior year) to help students prepare for post-Harvard life.

$200,000 family income and below, with typical assets: Free Tuition Plus

Financial aid covers the full cost of tuition, plus. In addition to tuition, students qualify for financial aid to cover additional costs, such as fees, food, and housing, based on their individual financial circumstances.

college.harvard.edu

Affordability

For 90% of American families, Harvard is more affordable than their local state school.
college.harvard.edu college.harvard.edu
 
I had an ex staff in Atlanta whose daughter made it to Harvard. If I recall his salary correctly he could have used that.
 
I'm guessing this last week would be the biggest Pump & Dump Scam ever?
 
www.nbcnews.com

Bond market moves raise fears of growing bets against America

Treasury yields have been behaving unusually, sparking concerns that the typical “safe haven” investment might be losing some of its shine.
www.nbcnews.com www.nbcnews.com

The first rumour was China selling but it started late afternoon ET and accelerated overnight. Then the second rumour was hedge funds needed to sell to meet their margin calls. It stopped a bit and then accelerated again. Then now I read the third rumour is Japan is dumping treasuries. Sometimes I hear Australia (Aussies hold a ton of US treasuries?) or Canada. No way Canada holds enough they can influence the market for a few hours.
 
www.bbc.com

Trump tariffs: US orders from Chinese small businesses on hold

Stock is piling up in warehouses as exporters grapple with new levies that total up to 145%, reports the BBC's China correspondent Laura Bicker.
www.bbc.com www.bbc.com

"If they don't want us to export – then let them wait. We already have a domestic market in China, we will give the best products to the Chinese first."

The China First strategy.

"We've had problems since the Covid pandemic, and now there's this trade war. I used to be paid 300-400 yuan ($40-54) a day, and now I will be lucky if I get 100 yuan a day."

...not working well for this bloke.

"We hope to open the new European market. Maybe Saudi Arabia - and of course Russia,"

Of course....
 
www.bbc.com

US sets tariffs of up to 3,521% on South East Asia solar panels

Several Chinese solar companies with factories across the region could face steep new tariffs.
www.bbc.com www.bbc.com

After a certain percentage shouldn't you just say the imports are banned? If the item costs $1, now it's $3,500+ who is still importing it? Even if you're contracted to take it, you'd just claim it's lost or abandon it at port.
 
www.bbc.com

Elon Musk to step back from Doge as Tesla profits plunge

The tech boss says he intends to spend only one to two days a week on Trump administration matters.
www.bbc.com www.bbc.com


"But Musk said his 'time allocation to Doge' would 'drop significantly"' from next month, adding he would spend only one to two days per week on it 'as long as the president would like me to do so and as long as it's useful'"

Your company starts tanking if you are gone? That's a pretty risky corporate structure.

"He blamed the 'blowback' on people who would 'try to attack me and the Doge team' . But he called his work at Doge 'critical' and said 'getting the government house in order is mostly done'"

You're already done? Trillions in efficiencies so the tax cut can finally come?
 
www.nbcnews.com

Warren Buffett to ask board to make Greg Abel CEO of Berkshire Hathaway at year-end

Buffett noted he would still ‘hang around’ to help, but the final word on company operations would be with Abel, currently the vice chairman of non-insurance operations for Berkshire.
www.nbcnews.com www.nbcnews.com

I guess at Berkshire a 62 year old is suitable for succession. In other companies if you don’t make it by your 50s you get packages out at 60.
 
www.bbc.com

What could be in the UK-US tariff deal?

The two nations will announce a deal to reduce tariffs today - here's what could be in it.
www.bbc.com www.bbc.com

Lots of high fives in British media this morning about how they are at the front of the queue to bend a knee to the States.
 
www.bbc.com

De minimis changes: 'I freaked out and spent $400 online'

How consumers are reacting to shipping changes that mean low-value packages entering the US no longer avoid tariffs.
www.bbc.com www.bbc.com

"Krystal DuFrene, a retired 57-year-old from Mississippi who relies on disability payments for her income, says she has nervously been checking prices on Temu for weeks, recently cancelling an order for curtains after seeing the price more than triple.

Though she eventually found the same item for the original price in the platform's US warehouse network, she says the cost of her husband's fishing nets had more than doubled."

The adult version of having only 2 or 3 dolls instead of 30.
 
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