The US will enter a mild recession as the economy deflates after its boost from unproductive stimulus cash, per Former Commerce Secretary

The U.S. is heading toward a recession, as the economy grapples with the aftermath of trillions of dollars in "unproductive" spending during the pandemic, according to former Commerce Secretary Wilbur Ross. In a recent interview with Bloomberg, the former Trump administration official gave a pessimistic outlook on

Sean Diddy Combs and SBF (Sam Bankman-Fried) of FTX are in the same Brooklyn Jail unit at the moment

Sean Diddy Combs and SBF (Sam Bankman-Fried) of FTX are in the same Brooklyn Jail unit at the moment. Sean "Diddy" Combs, who was arrested last week on allegations of sex trafficking and racketeering, is being housed in the same living space of a federal detention center in

US Congressman Tom Emmer has said to Gary Gensler: The SEC has broke the law... Your inconsistencies on this issue have sent this country back. We could not have had a more historically destructive or lawless Chairman of the SEC

A transcript of Congressman Emmer’s questioning can be found below. Emmer: Thank you. Chair Gensler, leadership comes from the top, correct? Gensler: Uh, leadership comes from a lot of things, but the top matters a lot. Emmer: It’s a yes. The answer is “yes,” sir. But under your

Trump: We will put a 100% tariff on every single car coming across the Mexican border

Donald Trump has suggested eliminating U.S. income tax and replacing it with tariffs on imports. Donald Trump on Thursday suggested the idea of implementing an "all tariff policy" that could potentially allow the U.S. to eliminate the income tax, according to sources in a private meeting

DOJ plans to file antitrust lawsuit against $V Visa saying they illegally monopolized the US debit card market

The US Justice Department is preparing to file a lawsuit accusing Visa Inc. of illegally monopolizing the US debit card market, according to sources familiar with the matter. The antitrust division is expected to file the case in federal court as early as Tuesday, alleging a range of anticompetitive practices

China plans at least 500 billion Yuan of liquidity support to stocks, in a new stimulus push announced today

China's central bank announced significant monetary stimulus and support measures for the property market on Tuesday, aiming to revive an economy facing severe deflationary pressures and at risk of missing its growth target for the year. Governor Pan Gongsheng revealed plans to lower borrowing costs, inject more liquidity

Twitter/X is working to remove the block button

X (formerly Twitter) will now allow users to view posts from those who have blocked them. According to Elon Musk, X’s owner, the block function will still prevent blocked accounts from engaging with the blocker but will no longer restrict access to public posts. Previously, users who were blocked

Telegram will now provide users' IP addresses, phone numbers, and other details to relevant authorities in response to legal requests

Telegram has updated its privacy policy, stating that it will now disclose a user’s phone number and IP address if it receives a valid request from judicial authorities. This change follows the recent arrest of Telegram CEO Pavel Durov by French authorities, who accused him of facilitating illegal activities

Donald Trump has just announced he is planning to end all sanctuary cities

Former President Donald Trump pledged on Saturday to resolve the nation's migrant crisis if re-elected, by urging Congress to abolish sanctuary city policies that shield illegal immigrants. "Today, I am announcing a new plan to end all sanctuary cities in North Carolina and across our country,"

Donald Trump says he doesn't see himself running in 2028 if he loses in November

Former President Donald Trump stated in a Sunday interview that he doesn't expect to run for president again in 2028 if he loses the upcoming 2024 election. Why it matters: Trump has been a central figure in the Republican Party for the last three election cycles. The news:

Elon Musk is fighting to save Western civilization

Billionaire Mark Cuban has expressed interest in buying both Fox News and Elon Musk’s X, but admitted he lacks the financial capacity to do so. During an interview, the Shark Tank star referred to the baby boomer generation as the “Fox News generation” and talked about how to engage

Kevin O’Leary said office workers are idiots for buying coffee and sandwiches

People are throwing away their money on sandwiches and coffee during their commute to work, a venture capitalist said in an Instagram video last week. Instead, they could be using that cash for savings or investments. “A coffee for $5.50. You head to work and spend $15 on a

US and Iraq agree to withdraw American troops by end of 2026

The U.S. is expected to announce next week a long-awaited agreement with Iraq to reduce its troop presence in the country, two administration officials said on Friday. Negotiations over the plan, which Iraqi officials have publicly stated would lead to the departure of the 2,500 U.S. troops

SEC has approved options for BlackRock's, $BLK, spot Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of options for asset manager BlackRock's spot Bitcoin exchange-traded fund (ETF) on Nasdaq. According to a notice from the SEC on Friday, options trading for BlackRock's iShares Bitcoin Trust, with the ticker

US SEC intends to seek sanctions against Elon Musk in Twitter probe

The U.S. Securities and Exchange Commission (SEC) announced on Friday that it plans to seek sanctions against Elon Musk for failing to appear for court-ordered testimony related to its investigation into his $44 billion acquisition of Twitter. In a filing in San Francisco federal court, the SEC stated it

Generation Z and Millennials state they need $200,000 and $199,999 annually, respectively, to live

Young people are increasingly prioritizing financial stability over job satisfaction, largely due to years of economic challenges that have led them to focus on earning a steady paycheck and seeking promotions. A global survey of nearly 35,000 workers revealed that millennials are now the least likely to prioritize enjoying

Chipotle, $CMG, is testing bowl and salad making robots

hipotle Mexican Grill (NYSE: CMG) announced today it is testing an automated digital makeline in collaboration with Hyphen, a foodservice platform designed to help restaurant owners, operators, and budding chefs move their business forward by automating kitchen operations. Bowls and salads are created by an automated system that moves the

Baby boomers are set to pass more than $68 trillion on to their children

"Most importantly, the baby boom generation has started to retire with a record $76 trillion in net worth," he wrote for the Financial Times. "They are spending on restaurants, cruises, traveling, and healthcare. All these services industries have been expanding their payrolls, thus boosting real incomes, and

Microsoft, $MSFT, and nuclear plant owner Constellation have agreed to restart the closed Three Mile Island by 2028

Constellation Energy (CEG.O), opens new tab and Microsoft (MSFT.O), opens new tab have signed a data center deal to help resurrect a unit of the Three Mile Island nuclear plant in Pennsylvania in what would be the first-ever restart of its kind, the companies said on Friday. Big

Chinese real estate stocks are back at 2008 lows, per Bank of America

Chinese stocks trading in Hong Kong are expected to face losses on Monday following a disappointing set of economic data, which has intensified doubts about any near-term market recovery. Data released on Saturday showed that Chinese factory output, consumption, and investment all slowed more than expected in August, while the

OnlyFans 2023 revenue

OnlyFans reported record revenue and profits for its 2023 fiscal year, driven by a 29% increase in the number of creators, which reached 4.12 million. Gross payments through the platform grew by 19% for the year ending November 30, 2023, rising from $5.55 billion in 2022 to $6.

Japanese wage growth to surpass inflation for the first time in over 30 years

Japanese wages are expected to grow in real terms in the second half of 2024, marking the first such increase in over three decades, according to Asset Management One. Wages in Japan are rising at a faster pace than they did in 2023, the investment management firm highlighted in a

Home listings are up more than 60% in some cities

The supply of homes for sale remains low by historical standards, but it's increasing rapidly. Nationwide, active listings in August rose 36% compared to the same month last year, according to a report from Realtor.com. This marks the 10th consecutive month of annual growth. However, supply is

The upper-middle class folks have an average net worth of around $300,800

If you’re in the upper class, you’re in a good spot. The top 10% of earners have an average net worth of $2.65 million. Even if you just make it into the upper class (in the 80-90% range), your net worth is around $793,000. For the

Delinquency rates on auto loans increased in August in both the prime and subprime cohorts, according to Morgan Stanley

Consumers with auto loans originated in the past two years are falling behind more frequently compared to those with older loans. Subprime auto loans from 2023 are struggling the most, impacted by elevated interest rates and high vehicle prices at the time. According to Bloomberg data, about 8.7% of