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So Ghana is falling back into the suffocating embrace of the IMF for the 17th time since independence. After all, as the Times says, they have “no choice.” And we all know what is the universal prescription of the IMF for impoverished countries: more government spending and higher taxes.
Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs.
Credit card losses bottomed in September 2021, and while initial increases were likely reversals from stimulus, they have been rapidly rising since the first quarter of 2022. Since that time, it’s an increasing rate of losses only seen in recent history during the recession of 2008.
It is far from over, the firm predicts.
For stock investors for much of this year, the trillion-dollar AI promise has masked a big threat in this era of Federal Reserve hawkishness: Real-world borrowing costs have jumped across Corporate America.
Now Wall Street is fretting over the monetary danger in a week that Jerome Powell signaled his resolve once again to keep the policy stance tight — sparking a rout across Big Tech and beyond.
95% of NFT Collections, Held by Over 23 Million People, Are Now Worthless, Study Finds
malterwitty
Fri, 09/22/2023 - 18:34
On the heels of the well-documented non-fungible token (NFT) craze – and billions in related purchases – a whopping 95% of the digital-asset collections are now worthless, according to a new study.
This and other telling data points emerged in a report from cryptocurrency analysis platform dappGambl. As part of the underlying research, the outlet zeroed in on the value and ownership details associated with 73,257 NFT collections, per the appropriate text.
Of these collections, 69,795, or north of 95%, had “a market cap of 0 Ether,” the breakdown shows.
Federal Judge Blocks Biden Admins Attempt to Scale Back Oil, Gas Drilling In Gulf of Mexico
MikeRivero
Fri, 09/22/2023 - 16:30
The Biden administration has lost another green energy agenda battle after a federal judge blocked the president’s effort to restrict oil and gas drilling in the Gulf of Mexico.
Late Thursday evening, U.S. District Judge James Cain of the Western District of Louisiana issued a preliminary injunction after the administration’s last-minute attempt to halt an upcoming offshore oil and gas lease sale in the Gulf, Fox News Digital reported.
Amazon will roll out ads on Prime Video next year - and users who don't want them will have to pay extra each month
malterwitty
Fri, 09/22/2023 - 14:38
Rand Paul just stood up for the taxpayer regarding aid to Ukraine
MikeRivero
Fri, 09/22/2023 - 12:54
Ukraine has received billions of dollars in aid from the United States to help with its war with Russia. Despite this, Democrats in Congress want to send even more to the war-torn country. And they are willing to do so even if it means a government shutdown in this country.
This Is The Worst Global Food Crisis In Modern History, And It Is About To Go To An Entirely New Level
MikeRivero
Fri, 09/22/2023 - 12:10
Hundreds of millions of people are desperately hungry all over the world, and by the time you are done reading this article more children will starve to death. Earlier this year, CNN actually admitted that we are in the midst of “the worst food crisis in modern history”, but because the mainstream media rarely features images of the tremendous suffering on the other side of the globe most Americans d
Author and NYT columnist David Brooks' tweet about $78 meal blows up
MikeRivero
Fri, 09/22/2023 - 12:05
Author and New York Times opinion columnist David Brooks shared a photo of food and a drink, noting that the meal he purchased at an airport cost him a whopping $78.
"This meal just cost me $78 at Newark Airport. This is why Americans think the economy is terrible," Brooks wrote.
While he shared a photo, Brooks did not mention what restaurant he had ordered the meal from. His post has amassed more than 29 million views on X so far.