Welcome to Hyroglf!

Sign Up!
  • HYRO – On Hyroglf, Anyone Can Post & Share Free 80-Word Limit Article Summaries.
  • Topics (Sidebar) – HYRO currently offers 1000s of Summaries covering News, Politics, Sports & Much More.
  • Mission – HYRO is Summarizing Your World.

Why Americans’ ‘YOLO’ spending spree baffles economists

BBC (12/01/2023)
  • Despite high interest rates, inflation, and shrinking savings, US spending has perplexed economists by surging, as evidenced by the recent 9.6% year-over-year increase in Cyber Monday sales.
  • Consumer spending growth accounted for most of the 4.9% increase in Q3 GDP.
  • This growth largely derives from the “unprecedented” increase in accumulated US household savings following government pandemic stimulus programs.
  • However, this trend will eventually reverse as student loan repayments resume and growing credit card debt limit future spending power.

A Treasure May Be Off the Coast of Colombia, but Who Can Claim It?

The New York Times (NYT) (11/10/2023)
  • The San José, a Spanish cargo vessel ship sunk in 1708 by the British with treasure currently estimated at $20 billion, has ignited a complex international dispute over its claim.
  • While Colombian President Gustavo Petro plans to recover it, this initiative faces opposition from archaeologists, Spain, indigenous groups, and a US search group claiming 50% discovery rights for locating the shipwreck in the 1980s.
  • The article details why the recoverable treasure’s value is probably inflated and the justification behind ownership claims.

Picasso masterpiece depicting his young mistress sells for $139 million at auction

CNN (09/13/2023)
  • Pablo Picasso’s 1932 masterpiece “Femme à la montre” depicting his lover Marie-Thérèse Walter sold for over $139 million at Sotheby’s (NYC), making it the artist’s second most expensive auctioned work.
  • Part of the late philanthropist Emily Fisher Landau’s collection, this vibrant, detailed canvas from Picasso’s prolific year symbolizes his passionate affair with Walter, impacting his art and personal life.
  • The sale was part of a larger auction including works by Rothko, Warhol, and O’Keeffe expected to auction for over $400M.

The Secrets Hamas Knew About Israel’s Military

The New York Times (NYT) (10/13/2023)
  • On October 7th, the Israeli military was completely blindsided by the Hamas attack in Southern Israel that resulted in over 1,300 deaths and 200 kidnappings.
  • Hamas gunmen penetrated Israel’s defenses and bypassed security, targeting a military intelligence hub and other strategic points, including civilian areas.
  • With explosives and tractors, Hamas attackers blew open gaps in border barricades and knew exactly where to go.
  • With local security overwhelmed and communication towers destroyed, the initial counter-offensive was led by off-duty and retired Israeli soldiers.

Oil prices would soar to $150 and market volatility would skyrocket in the most severe scenario for the Israel-Hamas war, EY chief economist says

Business Insider (10/23/2023)
  • In a potential worst-case scenario of the Israel-Hamas conflict, EY’s chief economist Greg Daco warns of soaring oil prices reaching $150 a barrel by late 2023 and crash major stock market indexes by 20%.
  • The spike in energy prices and falling markets could also reduce global GDP by 1.4%, or $2 trillion.
  • This “uncontained” scenario would involve the US and/or Iran getting directly involved.
  • Daco predicts this worst-case scenario would be short-lived, with oil prices falling back to current levels by late 2024.

How Tony Hsieh’s Friends And Family Milked Millions In His Drug-Fueled Final Months

Forbes (04/23/2023)
  • In the final months before the tragic death of Zappos (online shoe store) founder Tony Hsieh, he tried stimulating the Park City, Utah economy during Covid.
  • Hsieh paid his employees a 10% commission for making investments and purchases on his behalf.
  • His close circle, including family members, exploited this program by making bad multi-million dollar purchases and investments.
  • Hsieh’s deteriorating mental state amplified by heavy drug use made him vulnerable and triggered erratic behavior that culminated with him dying in a fire.

Israel-Hamas War Impact Could Tip Global Economy Into Recession

Bloomberg (10/12/2023)
  • Bloomberg Economics researchers believe the global economic impact of the conflict between Israel and Hamas will be subdued should the conflict remain confined.
  • However, a spillover in the form of a proxy war between Israel and Iran (supporting Syrian and Lebanese militants) or a direct confrontation could push oil prices from $89 currently to $150 per barrel, reducing global growth by 1.7% ($1 trillion).
  • Iran could potentially close the Strait of Hormuz, through which one-fifth of the world’s daily oil supplies pass.

The Israel-Hamas War Is Drowning X in Disinformation

WIRED (10/09/2023)
  • Users seeking real-time updates on the Israel-Hamas conflict via X (formerly Twitter) are being overwhelmed by waves of disinformation.
  • Amid the latest violent confrontations, old videos, fabricated photos, and even video game content are being circulated as authentic.
  • Although disinformation usually accompanies significant global events, the extent and pace of false narratives surrounding this particular conflict are unprecedented.
  • The surge in disinformation has been exacerbated by changes Musk implemented emphasizing content engagement, thereby incentivizing the spread of shocking disinformation.

What Happens to Your Body on No Sleep?

Outside (04/02/2019)
  • Scientists have found that the effects of acute sleep deprivation, or all-nighters, kicks in after being awake for 16-18 hours straight.
  • The first sign is a sluggish mind, with reaction times lagging to the equivalent of being legally drunk by the 24th hour awake.
  • After 24 hours, your brain starts forcing you into 10-20 second periods of “micro-sleep”.
  • After 35 hours, the brain’s emotion-emitting amygdala becomes 60% more reactive and the ability to regulate emotions declines.
  • Hallucinations are common after 48 hours awake.