In today’s recap, Marcello talks about a recent video from NYC Emergency Management that shares important steps for New Yorkers to follow in case a nuclear attack occurs; rent in New York skyrockets; and inflation keeps rising to new levels. Founders of bankrupt crypto hedge fund 3AC have gone missing, as investors try to recoup assets. Lawyers representing 3AC’s creditors say the location of Zhu Su& Kyle Davies are currently unknown. The court filing from Friday also alleges that the founders have [...]
In this week’s recap, the most important news was the high US dollar price, Elon Musk walking away from the Twitter deal, and the inflation striking world economies. Us and international markets mainly ended positively for the week. The USD appears to be an ultimate safe haven for investors, with global recession risks incoming. The USD ended the week at a 20-year high. Euro is fast heading towards parity, even if it is holding above 20-year lows in Europe Thursday morning. Japanese [...]
In today’s Recap, Marcello talks about how suspicious it is that hundreds of food processing plants are closed due to unlikely situations, such as plane crashes; Mark Zuckerberg has said in an employee Q&A session that “this might be one of the worst downturns that we’ve seen in recent history.” The Atlanta Federal Reserve Bank’s U.S. GDP measure, which tracks economic data in real time, but adjusts continuously, sees Quarter 2 output contracting by a full -1%. Coupled with Quarter 1’s decline [...]
In this week’s recap, the US markets and a big part of the international markets recovered gains, with strong news that will affect the next few weeks, specifically more aggressive Fed interest hikes. Also, the Fed says servers will be online by 2023 for the new “Government Coin,” a digital version of the dollar: “Rapid changes are taking place in the global monetary system that may affect the international role of the dollar.” A US central bank digital currency is being examined [...]
In this week’s Recap, Marcello talks about the widespread collapse of the markets around the globe; Inflation is reaching a new high; we might be facing the start of a recession. World stock markets had the biggest weekly decline since a pandemic-induced meltdown in March 2020, hit by growing worries about an economic recession after interest rate increases in the United States & the U.K. which was followed by a surprise move at Switzerland’s central bank, to quell an inflation surge. Euro-zone [...]
In this week’s Recap, Marcello talks about how the German supermarket chain Rewe has warned customers can take only 1 “critical” product – such as pasta and flour; Consumer spending in the U.S. is the “worst in history,” which shows a clear sign of how inflation has affected the economy; Ethereum fell and is headed toward its lowest levels since May 12. Inflation in the U.S. surged from a year ago. Groceries up +11.9%, chicken up +17.4%, restaurants up +9%, fuel up [...]
In the week’s recap, the US and global markets were mostly lower, except for the Asian markets. It’s increasing the likelihood of stagflation because the latest reports indicate the US labor market added jobs at a slower pace in May, but the inflation stays elevated. Elon Musk To Slash 10% Tesla Jobs, Has “Super Bad Feeling” About Economy. Everyone at Tesla is required to spend a minimum of 40 hours in the office per week: “If you don’t show up, we will [...]
In this week’s Recap, Marcello talks about the collapse of the housing market in the US due to the increase in prices of newly built homes; Swift has now allowed international payments using central bank-issued cryptocurrencies; and Malaysia and India are banning the export of chicken and sugar, respectively. A poll conducted by Vistage Worldwide Inc, had 57% of small businesses in the U.S. predict the domestic economy will get worse over next year, as the nation deals w/high inflation, supply-chain & [...]
In this week’s Recap, Marcello talks about some data that shows that we are facing a drop in stocks very similar to the one the market suffered in the Great Depression; an unprecedented outbreak of Monkey Pox is triggering alerts worldwide. China’s President Xi (since 2013) will attempt an unprecedented 3rd term this fall, as he plans to extend his rule as China’s most powerful leader since Mao Zedong. Xi’s bold domestic & foreign policies remain controversial. His strict zero-COVID-19 strategy, his [...]
In this week’s Recap, Marcello talks about the aftermath of the collapse in prices of the Crypto Luna; There is a Baby formula shortage in the U.S.; Switzerland is preparing in case of nuclear attacks. U.S. consumer sentiment slumped to its lowest level in nearly 11 years in early May it was reported this week, as worries about inflation persisted, but household spending remains underpinned by a strong labor market & massive savings, which may well keep the economy expanding for the [...]