Commentary The word “market” is usually associated with the stock market or perhaps a farmers’ market. This is a truncated view based only on what we see or hear reported in the financial press. The market in the real world is a vast collaborative effort involving exchange relationships all over the world, designed by no…
Why Getting Your Car Repaired Is Nearly Impossible
July 3, 2023
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Australian Firm Sues Twitter for $665,000 for Not Paying Bills
SYDNEY—An Australian project management firm has filed a lawsuit against Twitter Inc. in a U.S. court seeking cumulative payments of about A$1 million ($665,000) over alleged non-payment of bills for work done in four countries, court filings showed. Sydney-based private company Facilitate Corp. on June 29 filed the suit in the United States District Court…
Thousands of Hotel Workers Go on Strike in Southern California Over Rising Living Expenses
July 3, 2023
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Thousands of Southern California hotel workers went on strike on the Fourth of July weekend for a new contract with higher wages and benefits, according to the employees’ union. Non-managerial hotel staff, including cooks, room attendants, dishwashers, servers, bellmen, and front desk workers, were seen picketing outside major hotels in Los Angeles and Orange counties as the…
Biden’s Weaponizing the Dollar Against Russia Has Backfired
July 3, 2023
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Commentary In the full panoply of the Biden administration’s foreign policy errors aned gaffes, perhaps none was so stupid as its failed attempt to weaponize the dollar—the world’s reserve currency—against Russia for its invasion of Ukraine. It’s telling that during World War II, neither the United States nor the United Kingdom—when the British pound sterling was…
Pump the Brakes on the AI Hype?
Commentary The hype, as they say, is real with AI. Everyone is bullish on the potential created by generative artificial intelligence (AI) applications such as OpenAI’s ChatGPT and its slew of competitors and alternative contenders. When ChatGPT was released late last year, more than 100 million users signed up within two months. Since then, Alphabet Inc….
Nasdaq Rises as Tesla Rallies on Record EV Deliveries
The Nasdaq opened higher on Monday, setting the tech-heavy index on course to extend its rally into the second half of the year, as Tesla jumped on reporting record second-quarter vehicle deliveries. The Dow Jones Industrial Average fell 37.82 points, or 0.11 percent, at the open to 34,369.78. The S&P 500 opened higher by 0.10…
How Bidenomics Generates More Debt and Inflation
Commentary Estimates of U.S. growth have improved, but remain massively below the Federal Reserve’s projections. After the largest monetary and fiscal stimulus in recent years, growth remains well below trend and debt is significantly higher. It is interesting to hear Treasury Secretary Janet Yellen say that “trickle-down economics did not work,” when in reality this…
2023: A Year of Surprises
July 3, 2023
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Commentary Bank failures, an artificial intelligence-led bull market, persistent inflation, eurozone recession, France engulfed in riots, and perhaps the biggest U.S. presidential corruption scandal ever. Looking back on the first half of 2023, it is hard to believe the extraordinary events and outright surprises of recent months. Some of the possibilities I forecast in January…
Flying Car Gets FAA Approval
A flying car from mobility firm Alef Aeronautics has been granted certification by federal regulators, the first time such a vehicle has received “legal approval to fly” from the government. Alef’s flying car has been granted an experimental special airworthiness certificate by the U.S. Federal Aviation Administration (FAA). An experimental certification is issued for vehicles for…
SpaceX-Backed Flying Car Gets FAA Approval
A flying car from SpaceX-backed mobility firm Alef Aeronautics has been granted certification by federal regulators, the first time such a vehicle has received “legal approval to fly” from the government. Alef’s flying car has been granted an experimental special airworthiness certificate by the U.S. Federal Aviation Administration (FAA). An experimental certification is issued for vehicles…
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