Waste..

 

Now wasteful spending may be decreased, and with that Inflation will be reduced scientifically. May be that will be the House of the rising sun.    Just a thought.

Not Enough..

 

St. Louis Federal Reserve President James Bullard said Thursday the central bank still has a lot of work to do before it brings inflation under control.

Even using assumptions he characterized as "generous" regarding the progress the Fed has made so far in its inflation fight, he noted that "the policy rate is not yet in a zone that may be considered sufficiently restrictive."

The consumer price index, the annual pace is down to 7.7%, off the 41-year high but still well above the Fed's 2% target. Another measure Fed officials prefer has core inflation, excluding food and energy, at 5.1% annually, but that is still out of line with the goal.

Inflate..

 

Donald Trump entered the 2024 US presidential race on Tuesday, making it officially  

He complained about what he sees as America’s decline without him at the helm and said: “We are here tonight to declare it does not have to be this way.”

He also squarely took aim at President Joe Biden’s biggest vulnerabilities: inflation and energy prices.

“We will immediately tackle inflation and bring it down to a level where it was,” Trump said. “Remember, economic security is national security.” 

The fastest inflation in 40 years looms large in a Biden economic record that has, by some measures, outperformed Trump’s. US manufacturing jobs totaled 12.9 million last month, the most since 2008, part of a broader labor-market comeback that pushed employment past pre-pandemic levels. Retail gasoline prices, while still elevated, are off 25% from their high in June. 

Can you blame the guy. We really didn't have a good current White house that caused this terrible inflation that will last for five years.  

Just a thought.

XI..

 

Poll..

 

A CNN poll found that 75% of Democratic and Democratic-leaning voters want the party to nominate someone other than President Joe Biden in the 2024 election, a sharp increase from earlier this year.

The poll comes as Biden’s approval ratings remain low and most Americans are discontented with the state of the country and the economy. Inflation remains high and a new report released Tuesday showed consumer confidence slipped for the third straight month.  Just a thought.

The Kimchi

 

The Kimchi Swap put Sam Bankman-Fried on the map.

The year was 2017, and the ex-Jane Street Capital quant trader noticed something funny when he looked at the page on CoinMarketCap.com listing the price of bitcoin on exchanges around the world. 

Alameda’s success spurred the launch of crypto exchange FTX in the spring of 2019. FTX’s success begat a $2 billion venture fund that seeded other crypto firms. Bankman-Fried’s personal wealth grew to over $16 billion at its peak in March.

Bankman-Fried became a fixture in Washington, where he was one of the Democratic Party’s top donors, promising to sink $1 billion into U.S. political races before later backtracking.

It was all a mirage.  Just a thought.

Anonymity..

 

A senior U.S. intelligence official said Russian missiles crossed into Poland, killing two people, the Associated Press reported on Tuesday.

The official spoke on condition of anonymity because of the sensitive nature of the situation, the AP reported.

 U.S. President Joe Biden said it is unlikely that the missile that hit Poland and killed two people was fired from Russia, but the United States and allies unanimously agreed to support the country’s investigation.

 “There is preliminary information that contests that,” Biden said when asked if the missile was fired from Russia. “I don’t want to say until we completely investigate. It is unlikely in the lines of the trajectory that it was fired from Russia.”

It seems that the original report wasn't correct. Oh, another speedy report.  

Just a thought.

Flat Footed..

 

Throughout much of the rest of the country, Democratic candidates defied expectations that inflation and a heated debate over crime would pave the way for Republican victories across the board.

That did not come to pass. Democrats held onto the Senate, and while it’s almost certain they’ll lose control of the House, the margin of loss there is not nearly as bad as it could have been.

In New York state, though, Democrats bowed to defeat in almost every competitive congressional race and were forced in the end to avert catastrophe in the governor’s race — a contest that months ago was viewed as a fait accompli for their incumbent.
Gov. Kathy Hochul ultimately managed to maintain her hold on power, but only after running a campaign that’s been roundly criticized as flat-footed and incompetent by members of her own party.

She’s acknowledged that there’s room for improvement. Crime, Economy, Subway, Housing, Democracy which was ignored by the Politicians during Covid-19.

Glorious..

 

Donald Trump’s announcement that he will run for president again in 2024 was met with joy, dismay and mockery across the political spectrum.

Making the widely anticipated announcement at his Florida resort of Mar-a-Lago on Tuesday night, Trump delivered remarks that would feel quite familiar to anyone who has watched one of his many campaign rallies. Looking back on America as he left the presidency in early 2021, Trump painted a rosy picture of a nation that had established secure borders, a strong economy and global peace.

“Two years ago, we were a great nation, and soon we will be a great nation again,” Trump said. “In order to make America great and glorious again, I am tonight announcing my candidacy for president of the United States.”

It is going to be a fierce competition this time. Biden will not run, Harris is weak, so who will be in the Democrat side?

Oil..

 

European Union is preparing to implement an oil import embargo on Russian energy. Japan is the one G7 member that has been granted an exemption from the sanction. 

The actual idea of the G7 price cap was to get India and China on board with the idea because they are the two countries importing most of Russia’s oil that the West has shunned since February this year. Neither, however, has been sold on the idea, and they will likely continue to buy crude directly from Russia, organizing the insurance and shipping between themselves to avoid breaching the cap scheme.

While the price cap may turn out to be a smaller challenge to global oil supply than expected, it would certainly contribute to oil market uncertainties. 

These uncertainties are so significant that they are betting that oil could reach $200 per barrel. Just a thought.