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Items tagged with: economy



“'It’d gone way up, you know, probably over-priced,' he said. 'In a short period of time it had really gone up, and so it probably reset itself a little bit.'

Asked whether the market could get back to the same level, Tuberville said, 'No doubt.'

I noted that the consensus has been that the market dive was a direct result of Trump’s tariffs and the economic instability they bring."

#Musk #Trump #economy #StockMarket #stagflation #recession
/3


"In a Monday interview with Fox News’s Larry Kudlow, Sen. Tommy Tuberville (R-Ala.) suggested the stock market’s recent nosedive was reasonable, even justifiable, because things had simply gotten too lucrative.

I asked Tuberville to elaborate on his statement that the market was 'over-bloated.'”

~ Joe Perticone

#Musk #Trump #economy #StockMarket #stagflation #recession
/2


"You know what? Elon Musk did say before the election that he was going to inflict pain on the American people. So I guess in that regard, a promise is made, a promise is kept from this administration because people are feeling the pain."

~ Ben Meiselas

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/20

meidasplus.com/p/meidas-pod-on…


"It was a perfect encapsulation of the chaos that Trump has wrought. As he announced yesterday that he was going to proceed with 25 percent tariffs against Canada and Mexico and hike another 10 percent on China, a widget on the Fox Network showed the Dow Jones crashing in response."

~ Jay Kuo

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/19

statuskuo.substack.com/p/trump…


"Coincidentally, the same day Trump said tariffs on Canadian and Mexican goods would go ahead, a story broke that his administration is seeking to ease sanctions on Russia. After appeasing the bear, he has decided to drive his car into the moose. All of us are about to find out what happens next."

~ Martyn Wendell Jones

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/18

thebulwark.com/p/trump-putin-z…



"Encouraged by the cheers of his sycophants, empowered by the silence of his enablers, Donald Trump took another step yesterday down the dishonorable and dangerous path of betraying Ukraine and siding with Vladimir Putin."

~ William Kristol

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/16

thebulwark.com/p/trump-putin-z…


"On Monday, while President Trump talked about his tariffs, Fox News showed him speaking even as a graphic in the corner displayed the markets sliding. That said it all: No matter how much boasting he does about the economy, the actual metrics are getting worse—and the public knows it."

~ Greg Sargent

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/15

newrepublic.com/article/192262…


As Jen Rubin also notes, what Trump is doing to tank the economy has to be set beside his attack on Ukraine and NATO, which says,

"The message to Moscow is do what you will with Ukraine. We'll deliver them on a silver platter."

Ripping apart the federal government and tanking the economy serves no one better than it serves Vladimir Putin. These are dots that need to be connected.

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/14


"The Federal Reserve of Atlanta came out with a prediction this morning that the first quarter of growth in the United States would be negative, negative 1.5. That's down from 2.8 positive growth just a month ago. That's all the time it took Donald Trump to wreck this economy. I can't sugarcoat this."

~ Jen Rubin

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/13

contrarian.substack.com/p/jen-…


"Bloomberg reported that the tariffs on Canada and Mexico are likely to make US car prices rise by as much as $12,000, since so many parts and pieces of vehicles are manufactured at plants in those countries. In his remarks today, Trump said the manufacturers are just going to have to move all their plants to the US."

~ Ron Filipkowski

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/12

meidasplus.com/p/today-in-poli…


"Yet the conventions of mainstream journalism make it hard to say directly that the president’s actions are just vindictive and senseless. …

I don’t know how this ends. But U.S. voters will soon be feeling real pain, and I very much doubt that it will end in a Trump victory."

#Musk #Trump #Putin #StockMarket #economy #tariffs #recession
/11


"The newspapers this morning all contain analysis pieces trying to explain why Trump is imposing 25 percent tariffs on Canada and Mexico. You can see the writers struggling, because this is a profoundly self-destructive move — it will impose huge, possibly devastating costs on U.S. manufacturing, while significantly raising the cost of living — without any visible justification."

~ Paul Krugman

#Musk #Trump #Putin #StockMarket #economy #tariffs #recession
/10

paulkrugman.substack.com/p/tru…


"They want us broke. That means they want a recession, a depression, economic tumult. They want mass unemployment. They want the stock market to collapse. They want us to go broke struggling to pay our bills."

~ Greg Olear

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/9

gregolear.substack.com/p/sotu-…



"We assess that the Presidency has been captured by Vladimir Putin. Until we see proof otherwise, assume that Elon Musk, Donald Trump, and JD Vance are proxies for Putin, Xi, and their allies. China backs Russia fully.

Russia’s strategic goal is to dismantle the United States. They will pursue this through creating internal turmoil and dysfunction, trying to destroy the dollar and by 'ending' the Federal Reserve."

~ Dave Troy

#Musk #Trump #Putin #economy
/7

docs.google.com/document/u/0/d…



"The unease has already led to warnings that the U.S. could be heading for recession, with the Atlanta Fed’s GDPNow model estimating real GDP growth for the first quarter of 2025 at -2.8 percent, down from +3.9 percent just four weeks ago."

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/4


"Donald Trump’s introduction of his long-threatened 25 percent trade tariffs on Mexico and Canada has caused global stock markets to drop sharply, with the Dow Jones, S&P 500 and Nasdaq all falling."

~ Oliver O'Connell, Joe Sommerlad, Ariana Baio

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/3

the-independent.com/news/world…


"Also today, the Federal Reserve Bank of Atlanta forecast a dramatic contraction in the economy in the first quarter of 2025. Evaluating current data according to a mathematical model, it moved from an expected 2.9% growth in gross domestic product at the end of January to –2.8% today."

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/2


"Today, the stock market dropped dramatically upon news that Trump intended to go through with his tariffs. The Dow Jones Industrial Average dropped 650 points, down 1.48%. The S&P fell 1.76%, and the Nasdaq Composite, which focuses on technology stocks, fell 2.64%."

~ Heather Cox Richardson

#Musk #Trump #Putin #StockMarket #economy #Dow #Nasdaq #SandP #tariffs #recession
/1

heathercoxrichardson.substack.…


"At key moments, Leavitt visibly seethed at the media. And we think we know why: On Tuesday, consumer confidence registered another big drop, and Leavitt was simply unable to defend the glaring Trump-Musk failures we’re seeing."

#Musk #Trump #media #KarolineLeavitt #economy
/7


"At Tuesday’s media briefing, White House press secretary Karoline Leavitt announced that the White House will now decide who attends briefings, an effort to insulate President Trump from tough scrutiny. She also offered awful spin about the developing Elon Musk fiasco."

#Musk #Trump #media #KarolineLeavitt #economy
/6

newrepublic.com/article/191984…




Full year results of household survey for 2024 in China just posted. Real household income and consumption rose faster than overall GDP growth. Gains to rural households are significantly higher than urban households.

#china #economy


The Small Midwestern Cities That Could Play a Pivotal Role in This Year’s Elections

For all the talk about big-city Democrats and rural Republicans, it's the voters in overlooked places like Sandusky, #Ohio, and Racine, #Wisconsin, who could decide everything from key congressional races to the presidency.

propub.li/48mLrOJ

#News #Midwest #Election2024 #Vote #WorkingClass #Industry #Economy #Labor


“The last time the United States launched a mass deportation effort … U.S. citizens of Hispanic descent were rounded up and sent to Mexico—a place that many had never been before. The mass deportations that Trump is proposing would be devastating for our #economy and dangerous for American Latinos.” texasobserver.org/how-mass-dep…

#Trump #news #politics #Fascism #extremism #Republicans #Texas #USpol #immigration #border #election2024



Cool!

I did a bit more reading.

I was always sceptical of the notion that we need ~3.5% growth in our #economy just to stay where we are.

The only thing in nature with infinite growth is cancer...and it stops only once it kills the host.

I'm sold

#degrowth


Ukraine Daily Summary - Wednesday, July 10 2024


Wednesday, July 10

Russia’s war against Ukraine


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NATO Secretary General Jens Stoltenberg delivers remarks during the opening of the NATO 75th anniversary celebratory event at the Andrew Mellon Auditorium on July 9, 2024 in Washington, DC. (Kevin Dietsch/Getty Images)

US, NATO allies to deliver 'dozens' of air defense systems in coming months, including 4 Patriots. The U.S. and at least nine other NATO allies have agreed to send dozens of air defense systems in the coming months to Ukraine, including at least four Patriot batteries, according to a joint agreement issued on July 9.

US supplies Ukraine with Metal Shark high-speed boats. The boats are equipped with modern navigation and control systems, automatic fire extinguishing, as well as a video surveillance system, making them maneuverable, fast, and ergonomic, the State Border Guard Service said.

F-16s in Ukraine may 'create conditions for counterattack,' Polish general says. "Ukrainian aviation should receive long-range missiles to destroy Russia's infrastructure, including airfields. When this happens, the logistics of the Russian army will be cut off from the main forces. If this is done, Ukraine's army command should form a strike group and strike back," Kraszewski said.

NATO summit communique to describe Ukraine's path to alliance as 'irreversible,' CNN reports. The question of how strong guarantees to give Ukraine regarding its future membership in NATO has become a key source of debate inside the alliance, CNN reported. The final version of the document may contain changes, CNN wrote, but the presence of the "irreversible" Ukraine's accession to NATO would be "a significant signal to Kyiv and Moscow."

Ukraine struck airbase, oil depot, and energy facility in Russia overnight, source says. Ukrainian intelligence agencies carried out an attack against a Russian military airfield, an energy substation, and an oil depot in three different regions overnight on July 9, a military intelligence source told the Kyiv Independent.

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UN assessment suggests Kyiv children's hospital suffered direct hit by Russian missile. Evidence from the scene of the children's hospital in Kyiv indicates "a high likelihood" of a direct hit by a Russian Kh-101 cruise missile on July 8, the U.N. Human Rights Monitoring Mission in Ukraine (HRMMUN) said on July 9.

Republican Party committee approves 2024 platform, makes no mention of Ukraine, Russia. The 16-page document, which must be still approved at the upcoming Republican National Convention, focuses primarily on domestic issues.

Zelensky says Indian PM's embrace with Putin a 'huge disappointment' after Russian mass attack on Ukraine. "It is a huge disappointment and a devastating blow to peace efforts to see the leader of the world's largest democracy hug the world's most bloody criminal in Moscow on such a day," President Volodymyr Zelensky wrote on X.

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Read our exclusives


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Ukraine war latest: Rescue operations end at Kyiv children's hospital, at least 33 killed in capital overall

Search and rescue operations at the site of a Russian missile attack on Okhmatdyt hospital in Kyiv concluded on July 9, Interior Minister Ihor Klymenko said.

Photo: State Emergency Service of Ukraine/Anadolu via Getty Images

Learn more

Image/photo

F-16s, multi-billion pledge, more Patriots, 'irreversible' membership – what Ukraine will and won't get at the NATO Summit

While 75th birthdays are usually a cause for joy and celebration, NATO's marking of this milestone at a three-day summit in Washington from 9-11 July is likely to be a rather more muted affair.

Photo: Kay Nietfeld/picture alliance via Getty Images

Learn more

Image/photo

Russia probes for air defense gaps to wreak havoc on Kyiv

Rather than evidence of some technological edge on Russia's side, experts linked the destruction wrought by the attack to Moscow's consistent probing for weaknesses in Ukrainian air defenses.

Photo: Roman Pilipey/AFP via Getty Images

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Image/photo

Russian propagandists spin conflicting disinformation in bid to evade responsibility for missile strike on children’s hospital

As some Russian talking heads call for more Ukrainians to be killed, Zelensky’s top aide urges more Western help to stop a war of ‘genocide.’

Photo: Roman Pilipey/AFP via Getty Images

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Human cost of war


Rescue operations end at Kyiv children's hospital, at least 33 killed in capital overall. In total, at least 33 people, including four children, were killed in Kyiv as a result of the July 8 attack, officials said the following day. Another 10 children are among the 117 injured.

International response


Saudi Arabia issued vague threats to G7 against seizing frozen Russian assets, Bloomberg reports. Saudi officials reportedly made "veiled threats" to Group of Seven (G7) nations hinting that the kingdom would sell some European debt holdings if Western allies seized about $300 billion in frozen Russian assets, Bloomberg reported on July 9, citing its sources.

North Korean military trainers travel to Russia weeks after signing of partnership agreement. A delegation of North Korean military trainers led by the head of a prestigious military academy in Pyongyang has begun a trip to Russia, North Korean state media reported on July 9.

'When innocent children killed, the heart bleeds,' Modi comments on Russian July 8 attack after meeting with Putin. Indian Prime Minister Narendra Modi arrived in Moscow on July 8 in what was his first trip to Russia since the beginning of the full-scale invasion of Ukraine.

Threat of Russian sabotage led to heightened security at US military bases in Europe, CNN reports. The heightened security alert was first reported earlier in July as being connected to a possible terrorist threat directed at several U.S. military installations across Europe, including the facility in Germany where the U.S. European Command is based.

US announces moves against Russia-linked bot farm aimed at spreading disinformation. According to the Justice Department, the bot farm was organized by a Russian national who worked as the deputy editor-in-chief of RT in 2022, and expanded with funding from the Kremlin and collaboration with an official from Russia's Federal Security Service (FSB).

Moscow court orders arrest in absentia of Yulia Navalnaya. A Moscow court said that it had "approved the request of the investigators and decided a preventive measure in the form of detention for two months." Yulia Navalnaya currently lives outside of Russia, but would face jail time if she returns.

Bulgaria sues Russian Gazprom, seeking compensation of more than $430 million. In 2023, the Russian gas giant suspended Bulgargaz's long-term contract, which covered 90% of the quantities of natural gas delivered by Bulgargaz to customers.

Switzerland announces new sanctions against Russia. Switzerland announced new sanctions against Russia on July 8, bringing the country further in line with the EU's 14th round of sanctions adopted in response to the Russian full-scale invasion of Ukraine.

Moscow agrees to discharge all Indians recruited into Russian army, Indian outlet reports. Moscow agreed to release all Indians serving in the Russian army and facilitate their return after Prime Minister Narendra Modi met President Vladimir Putin, Indian news publication NDTV reported on July 9, citing unnamed sources.

US provides Poland with $2 billion for financing of F-35s, Patriots, Abrams. The U.S. will provide Poland with a second $2 billion Foreign Military Financing loan to purchase defense equipment from the U.S., the State Department announced on July 8.

In other news


Ukrainian state defense company opens office in US. Ukraine's state-owned defense company Ukrainian Defense Industry, also known as Ukroboronprom, has opened a representative office in Washington as Kyiv seeks to strengthen defense partnerships abroad amid Russia's war.

Nearly $37,000 stolen from bank accounts of fallen soldiers in Dnipro. The suspects, with the help of an employee of the Regional Bureau of Forensic Medicine, stole payment cards and mobile phones registered in the online banking system from dead soldiers in a morgue.

Ukraine to be represented at 2024 Olympics by smallest number of athletes in history. Only 140 Ukrainian athletes will compete at the Olympic Games in Paris this year, the smallest number in the history of the country's participation in the games, as Russia's war has damaged or destroyed sports' facilities and frequent air raid alerts interrupt training.

EU freezes $32 million in defense funds for Georgia, halts accession process amid ‘low point’ in relations. Brussels has frozen 30 million euros ($32 million) in defense sector funding for Georgia after halting its EU accession process in June, EU Ambassador to Georgia Pawel Herczynski said on July 9.

Bloomberg names 12 oligarchs who earn billions in payouts from Russia's war economy. Russia's wartime economy has earned a dozen oligarchs $11 billion in dividends as Russian natural resource and finance giants earn record profits during the full-scale invasion of Ukraine, Bloomberg reported on July 9.

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Venezuelan bond prices soar after US lifts trading ban

> Venezuelan government bond prices soared on Thursday after the US government eased sanctions that had barred American investors from trading them, handing immediate large gains to some hedge funds.
The price of #Venezuela’s sovereign dollar bond maturing in 2027 jumped more than 70 per cent to 19 cents on the dollar, according to Bloomberg data.
archive.is/2023.10.19-145149/f… #US #Economy



the news media, or as I like to call it the views media, is a bad joke. #pun

Seeing Andrew Neil lambast Mick Lynch for making the nation suffer while bosses make millions and workers are being sacked. #rmt #strike

Rishi Sunak saying he’ll rebuild the #economy he’s been in charge of for years! That he’s all about trust‽ #politics

I long for sources that aren’t tools for the highest bidder to manipulate public opinion. #propaganda

Any recommendations?