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Why Americans’ ‘YOLO’ spending spree baffles economists
(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?
(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
(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
(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
(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
(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
(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
(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?
(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.
