Trump’s crypto allies boast lavish lifestyles amid trail of debts
Former U.S. President, pictured here at a Virginia campaign rally, recently became the face of the crypto venture World Liberty Financial. His new business partners have checkered pasts. Donald Trump is the face of a new cryptocurrency business whose founders have a professional past littered with debts, lawsuits, and some questionable dating advice. In an…
The Fed’s 50 basis point rate cut won’t do anything to stop a recession, economist David Rosenberg says
Economist David Rosenberg is digging in his heels on his call for a recession to hit the US economy. The economist, who has wrongly predicted that an imminent recession will hit the US economy since 2022, dismissed the rosy scenario of a soft landing and goldilocks growth in a note on Thursday. Rosenberg’s bearish call…
Don’t bet on a ‘silver tsunami’ of boomers selling their houses
From falling mortgage rates to slipping home prices, things are starting to look a bit more upbeat for younger homebuyers. But one generation of owners is standing in the way of things getting too sunny. Most baby boomers, who own well over a third of the housing market, are unwilling to sell. That’s according to…
The Fed is following its 1995 playbook — and that’s great news for stocks and the economy
The Fed’s cutting cycle in 1995 sparked an economic boom, with the stock market more than doubling in value. The Fed is following a 30-year-old playbook with its interest rate moves — and that’s good news for the US economy, according to TS Lombard. The firm pointed to the central bank’s 50 basis point cut…
The company behind Sam Altman’s iris-scanning ID startup just revealed new tech. Its privacy chief explains how it works.
Damien Kieran is chief privacy officer of Tools for Humanity. In Sam Altman’s vision of the future, everyone has a safety net in the form of universal basic income. And until he recently mentioned “universal basic compute,” his master plan was to use an identity verification startup called Worldcoin to distribute funds to people worldwide.…
Billionaire investor Ray Dalio warns debt is being devalued as governments pile it up and central banks keep rates artificially low
Ray Dalio Yesterday, the Federal Reserve made a jumbo rate cut, its first cut in over four years as the central bank shifts its focus from fighting inflation to holding the job market together. Yet, billionaire investor Ray Dalio isn’t convinced that the Fed and other central banks’ moves to lower rates will address the…
Instagram has become a hot dating app in the era of swipe fatigue
Some people are turning to Instagram to find love as frustration mounts with dating apps. Monitoring who views your stories, curating your profile, following someone to grab their attention, and sliding into DMs. The ways we use Instagram are full of flirting potential. In fact, a former Instagram staffer recently told me that the stories…
One number shows why the economy might not get the immediate relief many hope for
The most important interest rate for borrowers in the US is moving higher, not lower, after the Federal Reserve’s jumbo rate cut on Wednesday. That rate is the 10-year US Treasury yield, a key lending benchmark for everything from mortgages to corporate debt. The 10-year Treasury yield rose to an intraday peak of 3.77% on…
X users in Brazil temporarily regained access. Elon Musk’s company says it was accidental.
Demand for VPNs has surged in Brazil following the country’s ban on Elon Musk’s social media platform X. Elon Musk’s X says it accidentally restored temporary access to the social media platform in Brazil on Wednesday, just weeks after it was banned in the country. The company’s Global Government Affairs account posted on Wednesday night…
