BREAKING: Twitter Makes Move That Could Take Out Woke PayPal MikeRivero Mon, 01/30/2023 - 15:44

Esther Crawford, a fast-rising lieutenant to Musk inside Twitter, has started to map out the architecture needed to facilitate payments on the platform with a small team, according to two people familiar with the company’s plans.

The nascent moves to allow payments through the site are a critical part of Musk’s plan to open up fresh revenue streams. Twitter’s $5bn-a-year advertising business has cratered since he bought the platform for $44bn in October, with marketers citing concerns over its management and moderation.

Nearly 6 million households had power shut off during pandemic: report MikeRivero Mon, 01/30/2023 - 14:48

Utility companies in the U.S. have disconnected customers an estimated 5.7 million times since 2020, according to a new report.

The disconnections have come even as those companies have paid billions to shareholders and executives, according to a report published on Monday by the Center for Biological Diversity, BailoutWatch and the Energy and Policy Institute. 

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Gauging the Efficacy of Western Sanctions Against Russia MikeRivero Mon, 01/30/2023 - 08:36

As the Russo-Ukrainian war enters 2023, its sustained intensity raises consternation amongst various policymakers in the US and Western Europe as to whether sanctions against Moscow are achieving desirable results. Despite the imposition of Western sanctions, there is no apparent end to the invasion in sight, nor are there any serious attempts at negotiations from Russia’s President Vladmir Putin.

For over a year, we have been dutifully tracking several key datasets within the auto sector to find the critical inflection point in this perhaps most leading of economic indicators which will presage not only a crushing auto loan crisis, but also signal the arrival of a full-blown recession, one which even the NBER won't be able to ignore, as the US consumers are once again tapped out. A month ago we said that in our view "that moment has now arrived"; the latest data from Fitch confirms as much.

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Credit card delinquency is the new big short alexmark Sun, 01/29/2023 - 16:40

The Conference Board – a nonprofit think tank that delivers cutting edge research – recently published its latest Leading Economic Index (LEI) for the United States.  The findings were a giant bummer.  In December, the LEI dropped for the tenth consecutive month.

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