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Bill Whitaker reports that a coordinated attack on a relatively small number of critical substations could plunge the U.S. into darkness.
Security researchers with U.S. cybersecurity firm Symantec said they have discovered a “highly sophisticated” Chinese hacking tool that has been able to escape public attention for more than a decade.
Russia would face a “real danger” if Ukraine acquired nuclear weapons, said Russian foreign minister
Mar 2, 2022 - 07:04:45 PST
Adm. Charles Richard, head of the U.S. Strategic Command, said it has become imperative for the United States to have the capabilities to defend against Russia and China at the same time.
On Tuesday, the Atlanta Fed cut its GDP estimate for the first quarter of 2022 to zero.Just a few days ago, the estimate was for 0.6% growth. That was down from 1.3% just a few days before that.This is not an encouraging trend.
Fed Chairman Jerome Powell will testify before the House Financial Services Committee on Wednesday, part of the Fed chair's semiannual testimony to Congress about the state of the economy. Most analysts expect Powell's interlocutors to focus on his outlook for inflation as expectations for Q1 GDP growth continue to slide, stoking fears of stagflation.
ADP Embarrasses Itself With Almost A Million Job 'Revision' To January's Dismal DataMar 2, 2022 - 06:36:30 PST
Following January's dismal 300k job-loss ADP print, which was dramatically worse than the official BLS payrolls print, it appears the private employment survey has some catching up to do with analysts expecting a 375k jump in jobs in February.
The Russian invasion of Ukraine has completely changed the market dynamics. In his podcast, Peter talked about the impact the situation is having on the markets and the global economy. He also looked ahead, saying Russia can now serve as a convenient excuse for the Fed to back off its planned monetary tightening. Of course, that will have consequences of its own.
Zoltan Pozsar on what this all means, how the Fed will react, why gold is important again, and how could this mark a turning point for the global dominance of the U.S. dollar.
The soaring demand comes as traders slash bets on interest-rate hikes from developed-markets central banks, swelling the world’s pile of negative-yielding sovereign bonds by $3 trillion in two days.
Credit Suisse Asks Investors To Destroy Documents Linked to Oligarch and Tycoon Jet and Yacht LoansMar 2, 2022 - 05:15:22 PST
Credit Suisse has asked hedge funds and other investors to destroy documents relating to its richest clients’ yachts and private jets, in an attempt to stop information leaking about a unit of the bank that has made loans to oligarchs who were later sanctioned.
Europe is carving up Sberbank of Russia PJSC’s business in the region after sanctions sparked by President Vladimir Putin’s invasion of Ukraine prompted a run on its local deposits.
The US and EU are over-reaching on Russian sanctions. The end result could be the de-dollarization of the global economy and massive commodity shortages worldwide.
The rouble was 7.3% weaker on the day at 108.60 against the dollar as of 0941 GMT in Moscow trade, earlier hitting 110.0, an all-time low. For the third day in a row, the rouble was weaker outside Russia, trading at 115 to the dollar on the EBS electronic trading platform, but still off the all-time low of 120 hit on Monday.
Federal Reserve Chair Jerome Powell will try to reassure lawmakers this week that the central bank will act to curb the hottest inflation in four decades while remaining flexible in the face of uncertainty posed by Russia’s invasion of Ukraine.
Ukraine Adds to Fed Chair's List of Worries Before His Congressional TestimonyMar 2, 2022 - 05:01:10 PST
Jerome Powell is facing questions from lawmakers on Wednesday and Thursday for his semiannual monetary policy update to U.S. lawmakers.
Mar 2, 2022 - 04:53:58 PST
The Fed chairman insists the growth of M2 doesn’t ‘have important implications.’ The math shows otherwise.
Biden Unveils Plan To Fight Inflation, Revives 'Build Back Better', During First State Of The UnionMar 2, 2022 - 04:48:57 PST
"My top priority is getting prices under control," Pres. Biden says. "One way to fight inflation is to drive down wages and make Americans poor. But I think I have a better idea to fight inflation. Lower your costs—not your wages."
Investors want to know what the REAL production cost is to mine silver. With Hecla reporting only $35 million in net income on $807 million in total revenues, why would the company report that its Costs are $1.37 per ounce?? Good question. Thus, the Devil is in the Details...