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Apr 20, 2023 - 12:55:22 PDT
Peel Regional Police have enlisted the help of the RCMP following a massive gold heist at Pearson airport. Earlier this week, someone made off with 3,600 pounds of gold being moved through the airport. Pearson is often used to move gold mined in Ontario to customers around the world.
Credit Suisse has been accused of hampering an investigation into its links to the Nazis that revealed dozens of previously undisclosed accounts.
The banking system is a fragile illusion that could collapse suddenly, potentially wiping out the savings of millions who misplace their confidence in it.
The problem is once the bad actors start populating the literature with misleading information and developer biases infiltrate the code, it’s clear that AI can be an instrument of tyranny.
The original vicious circle starts with inflationary interventions in an up-to-then well-anchored monetary regime. Consequent asset inflation spawns a banking crisis. That leads to the installation of anticrisis safety structures (one illustration is a novel or enhanced lender of last resort).
The Failure of the Federal Reserve: The Covid Boom and Unnecessary InterventionApr 20, 2023 - 12:25:00 PDT
The Federal Reserve’s failure to meet its own policy goals of price stability and growth has become increasingly evident in the current economic situation in the United States.
A debt ceiling fight is looming in the U.S. yet again, giving investors another worry for markets this year.
US Regional Banks’ Shares Slip as Deposit Flight Counters Higher Interest IncomeApr 20, 2023 - 12:12:42 PDT
A clutch of U.S. regional lenders on Thursday joined peers in reporting deposit outflows for the first quarter as customers spooked by a banking crisis moved funds to bigger institutions or sought higher yields in money market funds.
US Banks Face Shifting Hundreds of Billions in Assets to EU at ECB Request: BloombergApr 20, 2023 - 12:09:52 PDT
Global investment banks are expected to move hundreds of billions of dollars more in assets and risk transfers to the euro area at the urging of the European Central Bank.
Argentina's peso currency sank in widely used parallel markets on Thursday, hitting a record low against the U.S. dollar as concerns grew about the Latin American country's economy, with 104% inflation, reserves dwindling and drought hitting exports.
At the end of last year, Ghana defaulted on its debt as the government suspended payments on most debts owed to foreign creditors. Earlier in 2022, Sri Lanka also entered default as inflation sent the country’s currency tumbling, exacerbating the cost of living crisis as imports of essential goods like food and medicine became more […]
US Leading Economic Indicators Tumble For 12th Straight Month, Signal Recession ImminentApr 20, 2023 - 08:33:31 PDT
This is the 12th straight monthly decline in the LEI (and 13th month of 15) - the longest streak of declines since 'Lehman' (22 straight months of declines from June 2007 to April 2008)
Mr. Xi has offered a glad hand to those and other world leaders in recent weeks, it has been only the cold shoulder for the United States. China has rebuffed attempts by the Biden administration to restart high-level talks and lower tensions over Taiwan. And Mr. Xi’s government has intensified a campaign of ridicule and criticism of the United States and Western democracy.
Apr 20, 2023 - 08:13:08 PDT
The trend of cutting dependence on the US dollar and switching to national means of payment in international settlements is gaining steam across the globe. US sanctions against Russia and other countries have put the dollar’s dominance at risk, as targeted nations are seeking out alternatives, Treasury Secretary Janet Yellen told an American news outlet on Sunday. “There is a...
The digital euro is based on technology that could give the ECB and states extraordinary powers over our lives...
Apr 20, 2023 - 08:01:05 PDT
The stock market may be closely watching the chance of an official economic recession, but many Americans across the country are already feeling the squeeze as they contend with higher prices and borrowing costs than they saw a year ago.
The Western Housing Market Recession Hit So Hard & Fast That a Fortune 500 Firm Has Crashed to $1Apr 20, 2023 - 07:56:14 PDT
We’ve seen this movie before. Back in 2008, leveraged amateur home flippers across the country had no choice but to sell—or foreclose—at big losses as home prices began to slide. Only this time around, the correction is regional, and it’s a corporate titan that got stuck holding the bag.
But What If We Don’t Get a Recession in 2023? That Would Be a Bummer for Wall StreetApr 20, 2023 - 07:29:28 PDT
Just a slower-growth muddle-through economy that adjusts to higher rates and sticky inflation.
Apr 20, 2023 - 07:27:51 PDT
President Biden and House Speaker Kevin McCarthy are locked in opposite views. Will the resolution come before or after an economic crisis?
New mortgage rules are so absurd that only President Biden or other Progressive-minded economic illiterates could possibly have come up with them.