35 Burst results for "August. 17Th"
The Breakdown
A highlight from WSJ Says Binance Facing Trouble Over Sanctions Violations
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Wednesday, August 23rd, and today we are catching up with all the latest intrigue around Binance. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello friends, welcome back to The Breakdown. When we survey the landscape, the wreckage, some might say, of this industry after the last year or year and a half, it is pretty clear what the biggest hanging chad or threat left is. One might argue that there's still contentiousness around DCG and whether it will be able to successfully get itself out of this Genesis situation. There's obviously a lot of jawboning about that and recriminations flying back and forth between Barry and the Winklevosses, but the bigger threat, at least that most people identify, or perhaps not threat but concern, is whether Binance is really doing as okay as they say they are. CZ has been quick to wipe away story after story with his customary four, indicating that everything is just FUD, and it is certainly the case that there has been an extraordinary amount of leakage from various US government offices around their investigations into Binance in ways that have led some to assume that they don't actually have the goods on Binance and so are just trying to try them in the court of public opinion. This week we got even more of all of that when on Tuesday, the Wall Street Journal reported that Binance is still facilitating large amounts of Russian transactions, raising the question of whether the exchange is flouting Western sanctions. The article claimed that, quote, via layers of intermediaries, clients can turn funds at sanctioned banks into balances at Binance, while Binance also enables peer -to -peer trades of rubles for digital tokens that frequently involve banks that are on Western blacklists. A spokesperson for Binance said, Binance follows the global sanctions rules and enforces sanctions on people, organizations, entities, and countries that have been blacklisted by the international community, denying such actors access to the Binance platform. They added that in operating their peer -to -peer service, Binance has, quote, no relationship with any banks whatsoever, in Russia or elsewhere. Now, of course, US sanctions have not been imposed on Russian citizens generally. However, most of the Russian banking and financial system is subject to sanctions, which prohibit US citizens and firms from dealing with them. The EU and other US allies have similar levels of sanctions in place. In October, the EU tightened restrictions on crypto transfers to Russian wallets, removing a 10 ,000 euro limit to prohibit crypto transactions to Russian residents and entities entirely. The claim made by the WSJ is that Binance is facilitating international transactions for Russian citizens who have been cut off from the global financial system through their peer -to -peer platform. According to the Bank of Russia, around $428 million in peer -to -peer crypto transactions are taking place each month. The reporting claimed that there are hundreds of active peer -to -peer sellers willing to buy and sell rubles for crypto with a significant market for Tether. The main centralized exchange is also seeing significant volume in rubles. Volume is massively down from its peak of $80 billion per month in May of last year, but still processed $8 billion in ruble to crypto trades in July according to data from CC Data. Tatian Maksimenko, a Russian businesswoman who formerly worked at a crypto exchange, said, Now, according to a recent review of Binance's peer -to -peer services, as reported by the Wall Street Journal, the platform allows Russian clients to receive payment at at least five sanctioned Russian banks. Crypto sellers on the platform provide payment details to Binance, who allegedly disbursed funds out of escrow after the on -chain transaction has been completed. The article raised further concerns that payment provider Advanced Cash continues to facilitate ruble -denominated transactions with Binance through additional intermediaries. The Belize registered payments provider said it had severed ties with sanctioned Russian banks in March of 2022. However, its website provides links to, quote, Now, of course, the report comes after months of speculation that the DOJ is investigating Binance for money laundering and sanctions evasion, but to date, no charges have been filed and it's unclear whether any charges will be forthcoming. The reaction from the crypto community is basically one of, if this is true, it's a big deal. Investor Adam Cochrane writes, Can you imagine the sheer level of chaos if Binance is hit with OFAC violations? Like how do they deal with that seizure? If they blacklist the hot wallet, then your deposits are effed would be way worse than any regular DOJ action. Travis Kling writes, Sheesh, $428 million per month of P2P ruble to crypto, $8 billion per month of ruble to crypto trading on the main exchange. If you think the US government isn't going to drop the hammer hard on that kind of scale of sanctions violations, you've lost your mind. Now, as with basically every story that we've had on Binance this year, there are two possible explanations. One is, though, where there's smoke, there's fire. And these things are leaking out because there's just so much to leak out that it's coming out of all sides and that we're still just in the period before some action comes. The other possibility, however, is, as some have claimed, that because the DOJ or OFAC or whomever don't actually have a good enough case to bring charges, they're instead trying Binance in the court of public opinion and in so doing feeding sourcing for these types of articles. I don't know what the case is, and I think everyone is right, especially after the last 18 months, to be extraordinarily skeptical. A default position at this point in crypto of assuming there's fire where there's smoke is definitely sensible. But we're coming up on a year now of rumors of DOJ or criminal action. We still haven't seen anything yet. So I guess for now, we just have to wait until the next article comes out with all sorts of its accusations, just so that CZ can say four. The people who are concerned can say they are concerned. The people who are Binance stans can just say four as well. And we're right back to the beginning where we started. Now elsewhere in the Binance empire, some customers are reporting difficulties withdrawing euros. In response to a user complaint on Sunday, the Binance help desk responded that, quote, we have temporarily suspended euro withdrawals and deposits via SIPA. SIPA is the Single Euro Payments Area Network, a bank transfer protocol similar to ACH. Now Binance later deleted and revised this public statement, stating that the SIPA deposit and withdrawal service will continue until September 25th, as originally communicated. The customer service message was sent in error. We apologize for the inconvenience, and we will have alternatives for our users in place before then, so stay tuned. Making their feelings known, the user experiencing the problem simply replied, lies. The issue comes a few months after Binance informed users that its European banking partner PaySafe would be discontinuing services on September 25th. A Binance spokesperson addressing the specific users issue said, some users may occasionally be asked for more information as part of routine compliance checks, which could lead to early closure of their accounts. They said that Binance will have alternatives for our users in place before the end of the SIPA service. Now, trouble processing euro payments comes just a few days after news broke that Binance were also being cut off by London -based credit card processing company Checkout .com. Binance were the single largest customer for the payments firm. Forbes reporting cited letters sent in early August, which cited concerns over anti -money laundering, sanctions, and compliance controls at Binance. The letters said termination of service would occur on August 17th, and a Binance spokesperson said that the exchange disagreed with the reasoning for the cutoff, but stated that it would have, quote, no impact on our services. Finally, making everything so much the worse for Binance, their native token BNB has been on a renewed slide. The token reached a low of $204 on Tuesday, but has since recovered and is now trading at around $217 as of Wednesday afternoon. Tuesday's level was BNB's lowest point since June of last year and represented a 14 % drawdown in under a week. Part of the downwards pressure on BNB relates to a massive $150 million loan on Binance smart chain lending platform Venus Protocol. The position was opened up by a hacker in October of last year. After exploiting a cross -chain bridge to mint a half a billion dollars worth of BNB, the hacker took a loan against some of the fraudulently created funds, presumably as an exit strategy with no intention to ever repay the debt. In November, a governance vote was taken on how to avoid a massive impairment accumulating on Venus Protocol. The BNB core team proposed becoming the sole liquidator of the position to ensure they could prevent any liquidation cascades. On Thursday night, the liquidation began with $33 million worth of BNB cleared to shore up the loan. Venus Protocol tweeted out that the account was quote, made healthy, but there's still another $126 million in outstanding debt sitting on the Venus Protocol waiting to be liquidated if the BNB price continues to fall. Now, summing up all of the chaos, Travis Kling, who it should be noted is warning, and intentionally so about Binance after being caught up in the FTX collapse, tweeted, Pretty wild price action in BNB. Not sure what's going on. It's almost as if Binance was sued by the SEC on numerous charges with damning evidence, Was sued by the CFTC on numerous charges with damning evidence. Had three senior executives quit in the same week? Had a billion -dollar -plus collateral hole in Binance peg BUSD? Had Paxos forced them to wind down BUSD? Got kicked out of Canada, Germany, Netherlands and Belgium? About to be charged by the DOJ's strong evidence of massive money laundering, terrorist financing and sanctions violations? Under investigation in France for aggravated money laundering? Had their auditor quit and remove attestation? Lost multiple banking partners and payment processors can't process fiat in most countries? Had Binance US effectively closed? Laid off thousands of employees? Cut benefits for remaining employees? Dot dot dot. Oh. Wait. Like I said, I don't know what the truth is. The fog of war is thick. But a default position of defensiveness, and assuming that things are as bad or worse than they seem, is probably the safest approach right now. Speaking of things being as bad or worse as they seem, let's close on a quick Sam update. Sam Bankman -Fried has pleaded not guilty to a superseding indictment. Prosecutors formally presented the indictment during an arraignment hearing before a magistrate judge. The fraud and money laundering charges remain the same, but the campaign finance charge has been dropped. The details of campaign finance violations will be folded in as evidence for the remaining charges. Prosecutors said they were required to drop the campaign finance charge due to complications with their extradition arrangement with the Bahamas government. This was Sam's first appearance in court since he was remanded to jail earlier this month. The judge has not yet dealt with Sam's request to be released to prepare his defense at the However, Sam was allowed to meet with his lawyers on Tuesday until 3 p .m. when he was transported back to the Brooklyn Metropolitan Detention Center. During Tuesday's hearing, the issue of Sam's inability to review documents due to a lack of internet was raised, with his lawyer stating, Prosecutors noted that the matter had already been briefed to the judge overseeing the case. The magistrate responded to Sam's lawyer by noting that, Sam's lawyers also bemoaned conditions at the jail. He said that Sam had been denied vegan food options and stated that, The lawyer also noted that in the past 11 days of confinement, the jail has not provided Sam with Adderall, a drug for treating ADHD, and according to his lawyer, Sam is also running low on his supply of MSAM, which is a depression treatment. Prosecutors quibbled over the suitability of the jail conditions to enable Sam to prepare his case ahead of an October 2nd trial date, with ultimately the magistrate saying they would look into the issues once the hearing was adjourned, hoping to resolve them that day. Sam is still yet to provide details of legal advice regarding his conduct at FTX, despite prosecutor requests. He is seeking to rely on this as an advice of counsel defense. The judge set a deadline of documentation of this advice to be submitted by Wednesday. Now also the night before the arraignment, prosecutors and Sam's lawyers submitted competing sets of jury instructions for trial. The DOJ's document laid out the basis for each charge in detail and explained the difference between substantive crimes and crimes of conspiracy. Prosecutors outlined what jurors would need to determine if they decide to convict, specifically that there was a scheme to defraud, that Sam knowingly and willfully participated, and that the defendant used interstate wires to conduct the scheme which includes the internet. SPF's filing suggested that he may argue that he had an honest belief that use of customer funds was not unlawful. The filing suggests that his behavior amounted to honest mistakes in judgment and errors of management rather than crimes. It leaned heavily on the idea that unregulated crypto firms are in something of a gray area. Sam's filing said, If Mr. Bankman -Friede acted in good faith with respect to the use of FTX customer funds and with the belief that as a business matter FTX would be able to cover all customer withdrawal requests, he did not act with specific intent to defraud. It is also not relevant whether you believe certain conduct should have been regulated even though it was not regulated at the time. Now to put it mildly, the community does not have a lot of sympathy. However somewhat more sympathy is being extended for Nate Chastain, OpenSea's former head of product who was convicted of fraud and money laundering in May and has now been sentenced to three months in prison for insider trading. Chastain was responsible for deciding which NFT collections would be featured prominently on OpenSea's homepage. The scheme involved him purchasing NFTs ahead of them being featured on the website. All told, Chastain was accused of making over $50 ,000 in profits from this scheme across dozens of trades in 2021. At the time of his arrest, authorities referred to this case as the first ever insider trading scheme involving digital assets. Chastain's lawyers argued that the case should be dismissed because NFTs are not securities and Chastain leveraged information that was not confidential. The judge however was unconvinced and allowed the case to proceed to a jury trial in May, ultimately ending in his conviction. In addition to the three months behind bars, Chastain has been ordered to serve three months of home detention, to conduct 200 hours of community service, to pay fines of $50 ,200 and to surrender 15 .98 ETH, the spoils of his crime. US Attorney Damian Williams said, Nathaniel Chastain faced justice today for violating the trust that his employer placed in him by using OpenSea's confidential information for his own profit. Today's sentence should serve as a warning to other corporate insiders that insider trading in any marketplace will not be tolerated. So there you have it friends, that's the update from here. Another set of dreary but important events as we try to close the door on the last chapter of this industry and move to something hopefully a little bit better. Thanks for listening as always and until tomorrow, be safe and take care of each other.
Tascha Labs Podcast | Crypto Investment through Macro Lens | Web3 | Blockchain
A highlight from What Caused Recent Crypto Selloff | A Fastest Way to Increase Your Investing Performance
"Hey guys, you're listening to the Tasha Labs podcast. And finally, finally, we are getting some movement in the crypto market, right? So in the past couple of days, you can see both Ethereum and Bitcoin price have dropped about 10 % or so, and you're seeing a little bit of rebound in the market right now. But the thing is, we've been oscillating in a very narrow range for a long time, as I talk about in the previous episodes. It depends on how you define this range, depends on how you define the border of the range, wider or narrower, you can say, okay, it's been arranged for about one or two months or even starting the middle of March, you can say there hasn't been much of a movement in the market, right? So we just got this downside thrust in the market. And I want to talk about how we look at this today, but again, as always, my purpose here is not to give you any specific prediction or investment advice. My hope is through looking through the price action and the market behavior, we can look at this together and help you to refine how you think about your investments and help you to refine your own investment framework and define your own approaches. I think that's much more important compared to listening to any kind of specific prediction about how market will move next. So let's talk about this. So the first thing, if you look at the, I'm just looking at the daily frequency of price movement on Ethereum right now, the first thing you notice is that there was a large seller, especially in August 17th, Thursday, August 17th, I think this is probably the UTC time zone, okay, so that may not be the exact time zone of your local time, but on my side it's Thursday, okay? So what do I mean by large seller and how do you know that's a large seller? So the way I think about this is the market price is ultimately determined by supply and demand, right? So when price is moving down, it's either there is increased selling, in other words, increased supply, or there is a reduced demand, in other words, reduced buying or a combination of both, but usually there is a one -side dominant factor, but how do you know which one is which? Recall, there are multiple ways to think about this, but I'm an economist, I'm telling you about an economist's way to think about this, okay? Recall your high school Econ 101 class, okay? You learn about supply and demand curve, right? You draw a diagram and there is a supply curve that goes from the bottom left to the top right of the chart and there is a demand curve that you draw from the top left to the bottom right of the chart and the intersection of those two gives you the equilibrium market clearing price and volume of that market, right? So can you apply that framework to the financial market and it applies perfectly.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"The way you look like you're a big boomer. You might be able to call me baby Huey. There's another one you can look up a cartoon. Baby Huey. So that's the baby boomers. And now we have another day, which is national I love my feet day. So it's time to book your appointment in our spa for refluxology. That's the, you know, stinky thing around. You can call our divine spa. We will be happy to provide you that service. Wonderful. You have 60 to 70 points on each foot, which is directly connected to your internal organs. And that's like getting massage inside of your body. You detox. I had that happen. Did you? Yeah, here. Yeah, I know. Oh, you had that. Yeah. I told the therapist, there's a point on the foot that if you massage it increase the hormone, the sleeping hormone. I told them immediately put him in sleep. Oh, I was asleep. Yeah, you passed out. Don't forget to clean your toe jam out before you go. Yeah, that's a good idea. He was snoring like an elephant. I heard it in the office. Oh nice. An elephant snoring? Yeah, you were snoring like an elephant. I've never heard an elephant snoring before. You've never heard it because. Have you been to Africa before? Yeah. Or you just hang out at the zoo. I was actually thinking about the yesterday show. You know, you cannot park elephant in Miami Beach. Right. So you just use that. If anybody need information in regards to that detail, go to previous podcast. Somebody probably parked the elephant on Miami Beach. Yeah. Before. Probably, I'm sure. I just wonder who did that. It's a circus over there anyway. And last day that I would like to mention that we celebrating is National Able Day, August 17, 2023. You know, it's just funny for me. People don't know it. But there's a name. Able. That's a name for, I guess, a boy. Able, right? Cain and Able in the Bible. So, you know, they say National Able Day activities. You can hug an Able. You can name your baby Able. Dive into history. Find who was Able. There's plenty of them. But I want to say, I have a friend and his last name is Able. Nice. Wow. You know what? They have a business, several businesses. One of them is almost 100 years old and it's called Able Construction. Oh, wow. That's amazing. They are from Kentucky, from Louisville, Kentucky, and they just opened office in Naples, Florida. And I tell you what, I'm so happy they are here because finally we're going to have construction company with Able. Can you imagine if you were named Able Able? No, no. I'm such a dear friend. Able Able. I just cannot wait to do the marketing for them here in this local market because they actually are so big. They have so many employees and thousands and they build universities, hospitals, huge, huge buildings. They just signed a contract with Ford Motor Company building for them a huge building for $1.5 billion. So I'm so happy they came to Naples and finally entering this market with their services because they're not just Able, but they have such a great experience. Yeah, they're big and huge like you. Yeah, they have such a great experience and I have the feeling that people will seek service that people know about materials because you really need to know how to seal certain things and use the different materials. And if you have the type of experience, you have so many educated people. So that's one thing. But even not that, the Able construction. They also have Able racing theme. And the racing theme is so Able that they're getting successful. Just this year, they entered IndyNext, which is the lower level of IndyCar. Yes. And Jacob Able, which is the son of Mr. Able. That's very biblical. We got Jacob Able. Do they have an Israel or Abraham? We need to get married and then we need to find the rest of it. But I'm having promise from him. We're going to have him on our podcast. I love it. I'm excited. I'm joking around, but this sounds really like a great, great interview. He's getting so successful in that racing. That's the next star. Just remember the biblical name, Jacob Able. You're going to hear him a lot. Yeah, I love it. And if anybody like racing, please just look for Able Motorsports on Facebook. Give them a follow and cheer up Jacob. He's a young man, but such a talented man in the racing that there's a lot of magazines writing about him. I wonder if his middle name is Abraham. You have Abraham, Isaac, and Jacob. Well, I don't know. We can find out. We'll find out. There's some investigation you can do. That's correct. I will investigate. Not being funny. I think this is going to be great. You think so? Yeah. Well, we'll find out. In the meantime, why you don't bring that guy, that drug dealer? Oh, yeah. The pharmacist. Yes, drug dealer. And I am the in-house pharmacist. And you may ask, what does this guy prescribe? Well, let me tell you what I prescribe. I prescribe vitamin D. I want you to take your vitamin D every day. It's not a pill form. It's actual inactivity. I want you to tell somebody about divinenapels.com to subscribe to this podcast. Like us on Facebook. Follow us on Instagram. And get out there and tell people about divinenapels.com. Maybe it's an Isaac. Maybe it's a Jacob. Maybe it's an Abraham. Maybe it's anybody. Anybody. Please, tell somebody about divinenapels.com and this podcast so we can grow together. Bam. I'm growing together with you. We've been growing the last five years. Bam. I know. Yeah, we've got to lay off the cake and cookies. Yeah, you do because you eat them.Oh yeah, I eat them. We had a whole box of those things here yesterday, two days ago. And your hand, you know, you tell these people all this fairy tale stuff and fibs. Your hand was in the cookie jar twice as much as me. But anyway, go ahead. Yeah, so, you know, I'm not going to comment on that. It's hard to not, I mean, you don't want to, what are you going to do? All you can do is affirm the truth. So if it's the truth and you know it's the truth, you just decide not to say anything. I don't say, I decide not to say anything. Well, there you have it, people. You have your answer. His hand was in the cookie jar twice as much as mine. The only thing I'm going to say is this show, 4.16, is wrap for today. And that is Thursday afternoon. We are happy to be here for you. And we're looking forward to hit the small Saturday tomorrow. August 17 is wrap from this mic. Rich! Oh, and from this mic, Matt. Ciao! Now, you know what I think you are? You are boomer, a baby boomer that is drifting with able feet. Oh, really? Yeah.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"The way you look like you're a big boomer. You might be able to call me baby Huey. There's another one you can look up a cartoon. Baby Huey. So that's the baby boomers. And now we have another day, which is national I love my feet day. So it's time to book your appointment in our spa for refluxology. That's the, you know, stinky thing around. You can call our divine spa. We will be happy to provide you that service. Wonderful. You have 60 to 70 points on each foot, which is directly connected to your internal organs. And that's like getting massage inside of your body. You detox. I had that happen. Did you? Yeah, here. Yeah, I know. Oh, you had that. Yeah. I told the therapist, there's a point on the foot that if you massage it increase the hormone, the sleeping hormone. I told them immediately put him in sleep. Oh, I was asleep. Yeah, you passed out. Don't forget to clean your toe jam out before you go. Yeah, that's a good idea. He was snoring like an elephant. I heard it in the office. Oh nice. An elephant snoring? Yeah, you were snoring like an elephant. I've never heard an elephant snoring before. You've never heard it because. Have you been to Africa before? Yeah. Or you just hang out at the zoo. I was actually thinking about the yesterday show. You know, you cannot park elephant in Miami Beach. Right. So you just use that. If anybody need information in regards to that detail, go to previous podcast. Somebody probably parked the elephant on Miami Beach. Yeah. Before. Probably, I'm sure. I just wonder who did that. It's a circus over there anyway. And last day that I would like to mention that we celebrating is National Able Day, August 17, 2023. You know, it's just funny for me. People don't know it. But there's a name. Able. That's a name for, I guess, a boy. Able, right? Cain and Able in the Bible. So, you know, they say National Able Day activities. You can hug an Able. You can name your baby Able. Dive into history. Find who was Able. There's plenty of them. But I want to say, I have a friend and his last name is Able. Nice. Wow. You know what? They have a business, several businesses. One of them is almost 100 years old and it's called Able Construction. Oh, wow. That's amazing. They are from Kentucky, from Louisville, Kentucky, and they just opened office in Naples, Florida. And I tell you what, I'm so happy they are here because finally we're going to have construction company with Able. Can you imagine if you were named Able Able? No, no. I'm such a dear friend. Able Able. I just cannot wait to do the marketing for them here in this local market because they actually are so big. They have so many employees and thousands and they build universities, hospitals, huge, huge buildings. They just signed a contract with Ford Motor Company building for them a huge building for $1.5 billion. So I'm so happy they came to Naples and finally entering this market with their services because they're not just Able, but they have such a great experience. Yeah, they're big and huge like you. Yeah, they have such a great experience and I have the feeling that people will seek service that people know about materials because you really need to know how to seal certain things and use the different materials. And if you have the type of experience, you have so many educated people. So that's one thing. But even not that, the Able construction. They also have Able racing theme. And the racing theme is so Able that they're getting successful. Just this year, they entered IndyNext, which is the lower level of IndyCar. Yes. And Jacob Able, which is the son of Mr. Able. That's very biblical. We got Jacob Able. Do they have an Israel or Abraham? We need to get married and then we need to find the rest of it. But I'm having promise from him. We're going to have him on our podcast. I love it. I'm excited. I'm joking around, but this sounds really like a great, great interview. He's getting so successful in that racing. That's the next star. Just remember the biblical name, Jacob Able. You're going to hear him a lot. Yeah, I love it. And if anybody like racing, please just look for Able Motorsports on Facebook. Give them a follow and cheer up Jacob. He's a young man, but such a talented man in the racing that there's a lot of magazines writing about him. I wonder if his middle name is Abraham. You have Abraham, Isaac, and Jacob. Well, I don't know. We can find out. We'll find out. There's some investigation you can do. That's correct. I will investigate. Not being funny. I think this is going to be great. You think so? Yeah. Well, we'll find out. In the meantime, why you don't bring that guy, that drug dealer? Oh, yeah. The pharmacist. Yes, drug dealer. And I am the in-house pharmacist. And you may ask, what does this guy prescribe? Well, let me tell you what I prescribe. I prescribe vitamin D. I want you to take your vitamin D every day. It's not a pill form. It's actual inactivity. I want you to tell somebody about divinenapels.com to subscribe to this podcast. Like us on Facebook. Follow us on Instagram. And get out there and tell people about divinenapels.com. Maybe it's an Isaac. Maybe it's a Jacob. Maybe it's an Abraham. Maybe it's anybody. Anybody. Please, tell somebody about divinenapels.com and this podcast so we can grow together. Bam. I'm growing together with you. We've been growing the last five years. Bam. I know. Yeah, we've got to lay off the cake and cookies. Yeah, you do because you eat them.Oh yeah, I eat them. We had a whole box of those things here yesterday, two days ago. And your hand, you know, you tell these people all this fairy tale stuff and fibs. Your hand was in the cookie jar twice as much as me. But anyway, go ahead. Yeah, so, you know, I'm not going to comment on that. It's hard to not, I mean, you don't want to, what are you going to do? All you can do is affirm the truth. So if it's the truth and you know it's the truth, you just decide not to say anything. I don't say, I decide not to say anything. Well, there you have it, people. You have your answer. His hand was in the cookie jar twice as much as mine. The only thing I'm going to say is this show, 4.16, is wrap for today. And that is Thursday afternoon. We are happy to be here for you. And we're looking forward to hit the small Saturday tomorrow. August 17 is wrap from this mic. Rich! Oh, and from this mic, Matt. Ciao! Now, you know what I think you are? You are boomer, a baby boomer that is drifting with able feet. Oh, really? Yeah.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"We have to call, what is his name? Al Gore. Yeah, his office. He knows. He knows. And he already knew before. Yeah, of course. So we have some cool weather. It's going to be rain, so get ready. Right. And that's what I have to say about this thing. Hey, that's awesome. Yeah, go ahead. So it's going to be hot. Yeah, I mean hot. Yeah. But no. But not as hot. No, what happened is, you know, when we have people and I'm in a coffee shop, by the way, Divine Naples Coffee and Wine Board, just they plug it in. Yeah, they just throw it in. But they don't know. How would they know? So if some lady comes in, you know, and I'm there, I immediately take a chart so they're taking care of it. You know what I'm saying? Oh, yeah. You're always on that. Just a hundred percent service. What happens if you guys come in? Are you going to do this? I'm busy here. And so I, you know, I always say, you want to sit inside, outside? And they go, we're going to sit inside. It's too hot. And I look at them and I go, it's like, well, that's your fault. You came that way. Yeah, that's a nice play on words. I think I'll use that one. Yeah, well, that's my eye. Go up to the blue martini. Use that line. I don't know. I don't think it'll get me. If you use that line, you may just going to have martini in the blue outside. Right into the old face and I got to go home and change. So you have to be careful. Hey, you're hot. Let me tell you what's going on in Naples because this podcast is here to let you know about things coming up. So you are informed every single day. That's why we're doing this daily podcast, the Divine Naples Daily Podcast. You can find it in 32 platforms. So share it with your friends, please. There's new things coming up. It's big as 62,000 square feet, believe it or not. That's very big, right? I guess it's pretty big. It's going to be so interesting. You have something that you can kind of give me a reference? Yeah, I'm working on it. Is that like Noah's Ark or what is it? It's going to be providing people to go fast. It's going to have an establishment. A race track? Yeah. Oh, so it didn't take too long for me to catch on to that one. Oh, well, you're sneaking in my screen here. It says it's called Fast Trucks with X on the end. And for my ears, plans to break grounds for 62,000 square foot go-kart facility. And I'm so happy about it because there's so many. Are we going to be talking about one friend of mine who's racing? And there's so many things that the man likes to do, but they cannot do them here. You have to go to Miami, for example, racing go-karts. So all the go-karts are going to be electric. So that's going to take off really fast. Oh, boy. Yeah, so it's not going to be those slow ones. Are you sure? 100%. You think it's going to be faster than a combine engine? It's going to be faster than your toaster outside, the green one, when you drive. Well, anything can be faster than that. That's true. Because it's a vacuum cleaner in the biggest size. That's what it is. It sucks the air and filtrate it and spit and kill the ozone. But moving your body, I'm happy that that exists. So let me just tell you a little details. 3.5 acres in Southwest International Commerce Park will feature multi-level. Carding will be all electric go-karts. So that's going to have three different race tracks and some arcade games and a restaurant. So it's going to be a really cool place that will employ over 80 people. Oh, nice. It will open fourth quarter in 2024. I know it's ahead of the schedule, but people will get excited and follow them up and see what happens. Because there's not many places that we have that you can go and have fun as a group of people. Maybe pinballs or whatever that is. Pinball is an old game. Once you race, I hope this will take some of the kids off the street racing and put them right there. And maybe they create a league or whatever. I think it could be fun. So they just apply to a new association, which is bowling management association. And I want to remind people if they like bowling, that's a beacon ball. Also head pins, head pins in Fort Myers and bowling. Those are places that you can take family and friends. Yeah, I mentioned that the other day. Yeah, did you? Yeah. Have you ever actually played a pinball machine? Do you even know what a pinball machine is? Of course. It was my favorite. We used to play at all kinds of different machines with Simpsons on. That was my favorite. I didn't have any that had Simpsons. In the communist we had everything. That's true. It was cheap. I forgot about that. Cheap and everything was the same. Just another good news. The lower ski welcome and discovery center is back to open. So if you're going to lower keys, just this place is open again after being flooded. So that's good news that we have for you and we are happy to announce that. Next thing that I want to mention is we may have a problem with hurricane. If we have hurricane, we may have a problem getting hurricane cakes out of Publix. Oh really? Yeah. Did you hear about it? No. Okay, so Publix decided they may not be doing any hurricane cakes anymore because somebody posted something on social media and that was a big thing because, you know. You mean they're not going to do hurricane cakes anymore because people were actually getting cake to celebrate the hurricane coming? I guess somebody made fun of it and, you know, they just... Oh, made fun of the company for making hurricane cakes? No, I mean, yeah. Exactly. Because they just kind of announced, you know, they thought they're making fun of that. I'm going to go try to order them. What? Yeah. And get the explanation. I'll get the real lowdown. Why can't I have one of these? And complain. And take it all the way to the top. I want to talk to this door manager. Yeah, that's correct. I want a hurricane cake. Yeah. Well, you want in or out? Because I can guarantee you any cakes with those level two sugars you'd be a hurricane cake on the way out. Yeah, as soon as I eat it. Well, let me bring another news that was kind of surprising and kind of disappointing and kind of shocking. That is that FEMA striked the city of Naples. It striked it? Striked it. What do you mean? Like with a hammer. Smack. Oh, struck it. Oh, whatever. Strike, struck it. Whatever. That too. Okay. Both. You can use either. Just interchange either word. So, striked. That means stop them. Yeah. Stop them. Right? Strike. Oh, yeah. Strike. Yeah. And then what do you say? What was it? Well, why don't you get into the article? Maybe I'll be able to decipher it. I just want you. You struck something against us or strike us? Strike them. That means stop them and strike them. Yeah. Yeah. Whatever. I just want to make sure you know I'm right. Cease and desist. I am the genius. They stopped us from doing this. I'm the genius. Don't ever connection me. Okay. Yeah, you're right. Thank you. Is that clear? Is that clear? Well, I just want you to see. Is that clear? Yeah. Crystal clear. Thank you. But here's the deal. I'm Mr. Perfect. So, whatever you're doing needs to represent perfection. So, I'm going to have to interject if it doesn't. I'm just sometimes questioning myself. Who did I get in the studio with me? I don't know. Yeah. Why would I do that? Naples Pier is the subject. Let me tell you. It took them $6 million to get the final design put together. Now, that's going to cost several million dollars to build it. Just the design. Oh, okay. And I guess after they put the design together, the FEMA said no more concession stands off of the shore. Oh, really? Why? There's several reasons. I'm not going to go into them, but it's really surprising that somebody didn't think about it before and check before we spend some million dollars for design, check with FEMA first what we can do it. That's true. Well, in just typical way how we waste money here. Well, I mean, you know, I can, you know. Maybe we should ask the designers that designed the thing maybe for rebate. As a taxpayer. No, hold on just a second. What do you think? Sure. Well, you know, I can understand a little bit about it because, you know, it was, I guess it was kind of nice having a concession stand there sometimes for whatever. So let me explain. I don't know why. They allowed to go back to the original look. Yeah. Right. So you can repair what we had. Right. So we can still have them off shore because they've already been there and permitted, but they cannot be built new somewhere else. Okay. So that means five feet this way, 10 feet that way. Oh, that makes sense. Oh, I got you now. That means five feet higher, you know. No, it had to be the exact same size. So if we go into the design that we had before, then, then no, they, they trying to create something different. So, you know, FEMA strike them. Now we're going back to drawing board again. Oh, wow. Another thing is we are. I got an idea. Yes. Why don't you just resubmit the plan to the original one? Well, additional to that, I would like to ask a question that is, we'd be waiting. We will be waiting for another 18 months since somebody starts this project. Yeah. So we are almost a year after the pier was, pier was destroyed. We don't even know what you're going to do. Right. Or if it's going to happen. If it's going to happen. Now we're going back to drawing board and then we have to wait. We have to wait for 19, 18 months. I don't want to be pessimistic here, but I would expect our leaders to maybe take in consideration that pier is the most visited attraction. In all of Naples. All of Naples. Number one. Number one attraction. It's very unique. It's the most historical thing. And I would assume that we have enough money here in the city to kind of chop, chop, chop. You know what I'm saying? Well, maybe it's a red tape, federal red tape. Well, I mean, still let's chop, chop. I mean, I actually, you know, I'm not going to be, you know, I'm playing the devil's advocate here. What, what, what is, uh, why does the government or FEMA decide what, what size our concession stand should be? Let me just, uh, I mean, I'm just asking, you said you were going to ask questions. I'm going to ask questions. Cross questions. That's a good question to ask. FEMA is asking a lot of different questions. One time FEMA, uh, probably seven years ago, uh, somebody in the FEMA office. I don't know where that was, but I would assume it's definitely not in Florida. Maybe it's in FEMA land. In FEMA land office, they took the hand, right? And they smacked the hand on the map of the Florida. And they said, uh, flood zone. Right. And now everybody needed flood insurance. Right. So the reason why I know that is because I was working very closely with the D'Agostino, um, survey company. And, um, they actually explained to me, you know, a lot of houses here in Naples are not in flood zone. They are elevated. I know you were saying something about that. Didn't, didn't you, uh, do a, uh, a podcast one time with the guy that did that survey? Yeah, that was really good. So, so you had to prove to the FEMA or the insurance company that your house is elevated enough. They should know because I mean, it's not that hard to do that. So now all these survey companies have to go and, and, and rezone and, you know, because somebody in the FEMA land office just smacked the hand on the Florida. I just said, here's, here's the dictate. Yeah. This is all wetlands and flood zones. So that's why I'm telling you FEMA, for some reason, putting hands on everything now, even if you want to build a business, the restaurant next door to us, they needed FEMA approval. It's just crazy. You know, that's why, you know, we say not getting political, but that's why it's so important for communities to stay abridged. Like you were saying, uh, informed or whatever, so that we make right decisions about what's best for the community and that, and what's best for our businesses. And, uh, here's an example. The pier is the number one attraction in Naples. And so you would want to expedite that quickly, get it back up and operational because think about it, everybody goes down to fifth or third Avenue or, you know, they have a nice dinner. They've done some shopping and they go, Hey, you know what? I think we'll put our stuff in the car and walk down to the pier and maybe walk on the beach and see a sunset. It's very important to the whole, the whole, uh, business scene in this area and downtown. And so, you know, this is where governments and people need to come together and come up with solutions that expedite things quickly are less expensive. Like you were saying, you know, here we have all these plans that were submitted and now they're, they're no good and won't be accepted. So we've got a bunch of money that's been wasted there or whatever. And, uh, you would think we would do whatever it takes within governments and the community. And as the people that live in that community to get us back in operation as fast and as cheap as possible. But anyway, I let me get off my soapbox. No, it's just, uh, I, I'd love when we can kind of be voice of this community. Yeah. You know, let me tell you over a million visitors, uh, every year and, and fishermen comes to pier since 1888. Right. Every year, more than a million people. Right. You know, so I think there's enough motivation to kind of make things work really a little faster than we are. So that's all we're saying. Another thing is we have only 30 out of 40 beach accesses open and we are a year in it. Yeah. You know, we really need to kind of, you know, season is coming. We need to start just doing that. Getting on that. Exactly right. You know, just, uh, it's a, it's a frustrating thing. It's all right. It's all right. We'll just remain positive. I remain positive. You are? Yeah, I am. So let's go to some positive, huh? Eat another piece of cake. Everything is piece of cake. Let's go to national days. Let's do that. And you know what? I have two for today. And one of them is national nonprofit day. You know, nonprofits play a very vital role in our community. Yeah. And that's what they are is nonprofits. They operate, you know, not on a, on a profit basis. And usually by the generous donations of people that give to those organizations. Right. And so I just want to say, um, you know, maybe I know it's tough times or whatever, those types of things, but one way that you can give back to the community, actually two ways. You can either do it monetarily and give to one of your favorite nonprofits in the area, or you can volunteer your time and be a part of that organization. And, uh, these organizations, I'm going to name a few. Uh, we just want to, you know, thank you for what you do in our community and give you a little recognition. I'm not going to be able to name all of them, but we can, uh, you know, from time to time, uh, do a podcast with some of the local, uh, charities, Richard. That's a good idea. And, and to get them to come in and talk about their services. So real quick, I just want to say, uh, there's Catholic charities. Of course, there's the Salvation Army, Goodwill, Vincent DePaul. There's, uh, the Sun, Sunshine Kids Foundation, United Way. There's many of them. And I know that, uh, that you particularly, uh, with Divine Spa, uh, do a wonderful thing for, for one of the ladies groups, I believe, or the nonprofit that houses homeless women or, or what was it? It's abuse women and children, uh, shelter. We, um, we've been doing this for years now, over 10 years, we're donating massages and facials. And, uh, we, um, they always, uh, send the, you know, participants and we make them look beautiful and relaxed and, uh, free of charge. We never ask anyone to, you know, do anything. And the only thing we get, and we have so many of them every single time after they leave, they get it. They send us a thank you card. And I tell you what, there, there, there, there were plenty tears in our spa, uh, shared with, between the therapist when they reading it. And I just have chills talking about it because for a couple of years, our therapist didn't even know we do that until one of the ladies, uh, that was receiving facial, uh, she shared a story with one of our therapist and the therapist panic and, and, uh, ran outside and start crying. And, and, um, kind of was upset that we never told her because we, we pay our, uh, therapist for, for their work. We just don't tell them, you know, we don't charge, uh, we don't charge the ladies that come in. So yes, we are very involved, but we are involved always and try to always be involved the hands down, um, or hands on, um, you know, or off, uh, because somebody else puts hands on. Uh, and we, before previously we were doing and working with kids with autism, uh, there was a program, wonderful program, uh, was, uh, named, uh, dance with no limits. And the kids, uh, were, um, absolutely, we were changing their lives. Uh, there was a girl, uh, like to share the story. She was four years old. Unfortunately, she couldn't, she didn't speak when she started, uh, she was wearing diapers. And after one of our person that was in charge of it, um, that was providing that actually we were, we were producers of this whole dance with no limit. Uh, her name is Tina. Uh, she was working with, uh, with the kids once, uh, and, uh, in two weeks. And, uh, there was like a dance class for two hours. After one year, that girl was five and she started singing and dancing, and she was start communicating with her mom. That is really awesome. There was an article in the Naples Daily News written about it. Isn't that wonderful? We try to change lives and we try to change lives when we are involved personally or somehow, you know, we can do and we can see the results. It's just the most amazing feeling that you can have, then you can do something like that. So go ahead and go out and either give monetarily to, to these organizations that are reaching out and helping our community or go help yourself. And I have another one, one more, National Thrift Shot Day. Wow. Yeah. And let me tell you, you know what, actually it coincides with nonprofits because lots of nonprofits have thrift shops. Yes. And that's one of the ways that they are able to fund their ministries or whatever they're doing. So maybe go out and visit a thrift shop and buy something. But listen, okay? It's, you can look at it. Is that garage selling? Yeah, I was going to tell you it's like an upscale. It's a step up from garage selling. So anyway, anyway, that's what I have for you. Luxurious garage selling. Yeah. That's a good idea. I have actually, I have five tips that can help you to get this luxurious garage selling more smoother. Oh, good. So number one, if you plan ahead, you know, and just kind of pick your stores and see how you, you know, you may know if you're getting some furniture, you may want to get a truck. So that's, that would be helpful. Yeah. Now you also want to come to the thrift store and know what you're seeing. That means what you're putting hands on because some of the stuff could be very valuable. That's what I'm saying. I told you about garage selling the other day. That's why you have, you know, that's why you have a phone. So just go ahead and make sure you check the labels. If you find them around, look for the quality stuff, date when it was and just Google it. When maybe a piece of furniture was dated, find out. You don't know. In that case, also know what you're buying. Make sure you don't, that you don't come home with that. And say, that's a junk. Put it in the garage. We were talking about garage selling yesterday, so go to our previous episode and see. You can save a lot of money in thrift stores on the clothing. And we have a friend. His name is Roman and he is absolutely specialist on this. So if you need help with those things, let us know. Some of the shoes that he finds there award a lot of money. You're putting them on eBay and making actually money on them. Maybe you can buy Roman a sausage and he'll go with you. And you buy him sausage, he will tell you. It's a good secret. And some of the stuff you just, you know, you can, maybe it's broken or something. You find it cheap, just fix it. Maybe if you're handy, you save a lot of money with that. So, you know, keep that in mind. That's all national days you have. Yeah, that's it. I have one which is really important. Well, they were important to me. That's why I picked them. Yeah, I know. It's a time right now, right now, today, when we need to... Now? Yes, right now. Now. Right now. And it was also before, since midnight. But I want to know about now. Now. Okay. You ready? Okay. Now I'm ready. Baby boomers recognition day. So recognize them right now. Yeah. Okay. Hey, baby boomers. Hey, baby boomers. Whee. There's 10,000 baby... Maybe you can get yourself a cake. Not a hurricane cake, but anyway. There's 10,000 baby boomers... 10,000 baby boomers are retiring because they turn 65 every day. Can you imagine? Yeah, and it's actually... Every single day, 10,000 baby boomers are 65. Do you know what else? It's the largest transfer of wealth ever in the history of the world. Yeah. And their life expectancy is 83. Really? And those are the people that build the economy since 50s. They start... There's some other things they've done too, but... You can tell me about them, but let me tell you. I'll leave it for another show. It's just that generation is really strong, and they are moving around now since they are retired. So come on in. Come on in. We are ready for you. Yeah, we are. We have a spa. You can relax. We have a vine we can get you on. Sandwiches, ice cream. We have coffee. We have sandwiches for the beach. Baby boomers, divine apples here for you. Yeah. Just come and help us with our economy. Support our local businesses. And we might even make you a hurricane cake. Yeah, if you ask. I mean, we could make a hurricane croissant. So technically, Holland, I'm thinking you are baby boomer. No. Yes, you are. No. Well, I'll... 1946 to 1964. I'll dispute the numbers on that because I'm actually a geopolitical theorist and have a master's degree in public policy. And there was a gentleman, two gentlemen that wrote a book called How and Strauss wrote a book called Generations. And they actually cut that off at 60, not 64. You're just trying to get out of it. No, I actually identify. I actually identify more with X generation. And we could, you know, that'd be an interesting conversation since we brought up Generations. I'd like to do a show one day on that book, Strauss and How's book on Generations and just, you know, it'd make a great topic. So maybe we can get, I can find somebody that has an understanding of those guys and their writings or whatever, because it's very interesting on the, I believe that history is linear, not cyclical, but they have a view of the cycles and the different traits that show up in different generations. So, just to be honest with you, I'm not going to bash any boomers, but I identify more with the X generation than I do with the baby boomers. So, there you have it. Well, I'm so happy you clarified because you are behaving like a baby. I am a big baby.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"I mean, we could make a hurricane croissant. So technically, Holland, I'm thinking you are baby boomer. No. Yes, you are. No. Well, I'll... 1946 to 1964. I'll dispute the numbers on that because I'm actually a geopolitical theorist and have a master's degree in public policy. And there was a gentleman, two gentlemen that wrote a book called How and Strauss wrote a book called Generations. And they actually cut that off at 60, not 64. You're just trying to get out of it. No, I actually identify. I actually identify more with X generation. And we could, you know, that'd be an interesting conversation since we brought up Generations. I'd like to do a show one day on that book, Strauss and How's book on Generations and just, you know, it'd make a great topic. So maybe we can get, I can find somebody that has an understanding of those guys and their writings or whatever, because it's very interesting on the, I believe that history is linear, not cyclical, but they have a view of the cycles and the different traits that show up in different generations. So, just to be honest with you, I'm not going to bash any boomers, but I identify more with the X generation than I do with the baby boomers. So, there you have it. Well, I'm so happy you clarified because you are behaving like a baby. I am a big baby.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"Yeah, that's a nice play on words. I think I'll use that one. Yeah, well, that's my eye. Go up to the blue martini. Use that line. I don't know. I don't think it'll get me. If you use that line, you may just going to have martini in the blue outside. Right into the old face and I got to go home and change. So you have to be careful. Hey, you're hot. Let me tell you what's going on in Naples because this podcast is here to let you know about things coming up. So you are informed every single day. That's why we're doing this daily podcast, the Divine Naples Daily Podcast. You can find it in 32 platforms. So share it with your friends, please. There's new things coming up. It's big as 62,000 square feet, believe it or not. That's very big, right? I guess it's pretty big. It's going to be so interesting. You have something that you can kind of give me a reference? Yeah, I'm working on it. Is that like Noah's Ark or what is it? It's going to be providing people to go fast. It's going to have an establishment. A race track? Yeah. Oh, so it didn't take too long for me to catch on to that one. Oh, well, you're sneaking in my screen here. It says it's called Fast Trucks with X on the end. And for my ears, plans to break grounds for 62,000 square foot go-kart facility. And I'm so happy about it because there's so many. Are we going to be talking about one friend of mine who's racing? And there's so many things that the man likes to do, but they cannot do them here. You have to go to Miami, for example, racing go-karts. So all the go-karts are going to be electric. So that's going to take off really fast. Oh, boy. Yeah, so it's not going to be those slow ones. Are you sure? 100%. You think it's going to be faster than a combine engine? It's going to be faster than your toaster outside, the green one, when you drive. Well, anything can be faster than that. That's true. Because it's a vacuum cleaner in the biggest size. That's what it is. It sucks the air and filtrate it and spit and kill the ozone. But moving your body, I'm happy that that exists. So let me just tell you a little details. 3.5 acres in Southwest International Commerce Park will feature multi-level. Carding will be all electric go-karts. So that's going to have three different race tracks and some arcade games and a restaurant. So it's going to be a really cool place that will employ over 80 people. Oh, nice. It will open fourth quarter in 2024. I know it's ahead of the schedule, but people will get excited and follow them up and see what happens. Because there's not many places that we have that you can go and have fun as a group of people. Maybe pinballs or whatever that is. Pinball is an old game. Once you race, I hope this will take some of the kids off the street racing and put them right there. And maybe they create a league or whatever. I think it could be fun. So they just apply to a new association, which is bowling management association. And I want to remind people if they like bowling, that's a beacon ball. Also head pins, head pins in Fort Myers and bowling. Those are places that you can take family and friends. Yeah, I mentioned that the other day. Yeah, did you? Yeah. Have you ever actually played a pinball machine? Do you even know what a pinball machine is? Of course. It was my favorite. We used to play at all kinds of different machines with Simpsons on. That was my favorite. I didn't have any that had Simpsons. In the communist we had everything. That's true. It was cheap. I forgot about that. Cheap and everything was the same. Just another good news. The lower ski welcome and discovery center is back to open. So if you're going to lower keys, just this place is open again after being flooded. So that's good news that we have for you and we are happy to announce that. Next thing that I want to mention is we may have a problem with hurricane. If we have hurricane, we may have a problem getting hurricane cakes out of Publix. Oh really? Yeah. Did you hear about it? No. Okay, so Publix decided they may not be doing any hurricane cakes anymore because somebody posted something on social media and that was a big thing because, you know. You mean they're not going to do hurricane cakes anymore because people were actually getting cake to celebrate the hurricane coming? I guess somebody made fun of it and, you know, they just... Oh, made fun of the company for making hurricane cakes? No, I mean, yeah. Exactly. Because they just kind of announced, you know, they thought they're making fun of that. I'm going to go try to order them. What? Yeah. And get the explanation. I'll get the real lowdown. Why can't I have one of these? And complain. And take it all the way to the top. I want to talk to this door manager. Yeah, that's correct. I want a hurricane cake. Yeah. Well, you want in or out? Because I can guarantee you any cakes with those level two sugars you'd be a hurricane cake on the way out. Yeah, as soon as I eat it. Well, let me bring another news that was kind of surprising and kind of disappointing and kind of shocking. That is that FEMA striked the city of Naples. It striked it? Striked it. What do you mean? Like with a hammer. Smack. Oh, struck it. Oh, whatever. Strike, struck it. Whatever. That too. Okay. Both. You can use either. Just interchange either word. So, striked. That means stop them. Yeah. Stop them. Right? Strike. Oh, yeah. Strike. Yeah. And then what do you say? What was it? Well, why don't you get into the article? Maybe I'll be able to decipher it. I just want you. You struck something against us or strike us? Strike them. That means stop them and strike them. Yeah. Yeah. Whatever. I just want to make sure you know I'm right. Cease and desist. I am the genius. They stopped us from doing this. I'm the genius. Don't ever connection me. Okay. Yeah, you're right. Thank you. Is that clear? Is that clear? Well, I just want you to see. Is that clear? Yeah. Crystal clear. Thank you. But here's the deal. I'm Mr. Perfect. So, whatever you're doing needs to represent perfection. So, I'm going to have to interject if it doesn't. I'm just sometimes questioning myself. Who did I get in the studio with me? I don't know. Yeah. Why would I do that? Naples Pier is the subject. Let me tell you. It took them $6 million to get the final design put together. Now, that's going to cost several million dollars to build it. Just the design. Oh, okay. And I guess after they put the design together, the FEMA said no more concession stands off of the shore. Oh, really? Why? There's several reasons. I'm not going to go into them, but it's really surprising that somebody didn't think about it before and check before we spend some million dollars for design, check with FEMA first what we can do it. That's true. Well, in just typical way how we waste money here. Well, I mean, you know, I can, you know. Maybe we should ask the designers that designed the thing maybe for rebate. As a taxpayer. No, hold on just a second. What do you think? Sure. Well, you know, I can understand a little bit about it because, you know, it was, I guess it was kind of nice having a concession stand there sometimes for whatever. So let me explain. I don't know why. They allowed to go back to the original look. Yeah. Right. So you can repair what we had. Right. So we can still have them off shore because they've already been there and permitted, but they cannot be built new somewhere else. Okay. So that means five feet this way, 10 feet that way. Oh, that makes sense. Oh, I got you now. That means five feet higher, you know. No, it had to be the exact same size. So if we go into the design that we had before, then, then no, they, they trying to create something different. So, you know, FEMA strike them. Now we're going back to drawing board again. Oh, wow. Another thing is we are. I got an idea. Yes. Why don't you just resubmit the plan to the original one? Well, additional to that, I would like to ask a question that is, we'd be waiting. We will be waiting for another 18 months since somebody starts this project. Yeah. So we are almost a year after the pier was, pier was destroyed. We don't even know what you're going to do. Right. Or if it's going to happen. If it's going to happen. Now we're going back to drawing board and then we have to wait. We have to wait for 19, 18 months. I don't want to be pessimistic here, but I would expect our leaders to maybe take in consideration that pier is the most visited attraction. In all of Naples. All of Naples. Number one. Number one attraction. It's very unique. It's the most historical thing. And I would assume that we have enough money here in the city to kind of chop, chop, chop. You know what I'm saying? Well, maybe it's a red tape, federal red tape. Well, I mean, still let's chop, chop. I mean, I actually, you know, I'm not going to be, you know, I'm playing the devil's advocate here. What, what, what is, uh, why does the government or FEMA decide what, what size our concession stand should be? Let me just, uh, I mean, I'm just asking, you said you were going to ask questions. I'm going to ask questions. Cross questions. That's a good question to ask. FEMA is asking a lot of different questions. One time FEMA, uh, probably seven years ago, uh, somebody in the FEMA office. I don't know where that was, but I would assume it's definitely not in Florida. Maybe it's in FEMA land. In FEMA land office, they took the hand, right? And they smacked the hand on the map of the Florida. And they said, uh, flood zone. Right. And now everybody needed flood insurance. Right. So the reason why I know that is because I was working very closely with the D'Agostino, um, survey company. And, um, they actually explained to me, you know, a lot of houses here in Naples are not in flood zone. They are elevated. I know you were saying something about that. Didn't, didn't you, uh, do a, uh, a podcast one time with the guy that did that survey? Yeah, that was really good. So, so you had to prove to the FEMA or the insurance company that your house is elevated enough. They should know because I mean, it's not that hard to do that. So now all these survey companies have to go and, and, and rezone and, you know, because somebody in the FEMA land office just smacked the hand on the Florida. I just said, here's, here's the dictate. Yeah. This is all wetlands and flood zones. So that's why I'm telling you FEMA, for some reason, putting hands on everything now, even if you want to build a business, the restaurant next door to us, they needed FEMA approval. It's just crazy. You know, that's why, you know, we say not getting political, but that's why it's so important for communities to stay abridged. Like you were saying, uh, informed or whatever, so that we make right decisions about what's best for the community and that, and what's best for our businesses. And, uh, here's an example. The pier is the number one attraction in Naples. And so you would want to expedite that quickly, get it back up and operational because think about it, everybody goes down to fifth or third Avenue or, you know, they have a nice dinner. They've done some shopping and they go, Hey, you know what? I think we'll put our stuff in the car and walk down to the pier and maybe walk on the beach and see a sunset. It's very important to the whole, the whole, uh, business scene in this area and downtown. And so, you know, this is where governments and people need to come together and come up with solutions that expedite things quickly are less expensive. Like you were saying, you know, here we have all these plans that were submitted and now they're, they're no good and won't be accepted. So we've got a bunch of money that's been wasted there or whatever. And, uh, you would think we would do whatever it takes within governments and the community. And as the people that live in that community to get us back in operation as fast and as cheap as possible. But anyway, I let me get off my soapbox. No, it's just, uh, I, I'd love when we can kind of be voice of this community. Yeah. You know, let me tell you over a million visitors, uh, every year and, and fishermen comes to pier since 1888. Right. Every year, more than a million people. Right. You know, so I think there's enough motivation to kind of make things work really a little faster than we are. So that's all we're saying. Another thing is we have only 30 out of 40 beach accesses open and we are a year in it. Yeah. You know, we really need to kind of, you know, season is coming. We need to start just doing that. Getting on that. Exactly right. You know, just, uh, it's a, it's a frustrating thing. It's all right. It's all right. We'll just remain positive. I remain positive. You are? Yeah, I am. So let's go to some positive, huh? Eat another piece of cake. Everything is piece of cake. Let's go to national days. Let's do that. And you know what? I have two for today. And one of them is national nonprofit day. You know, nonprofits play a very vital role in our community. Yeah. And that's what they are is nonprofits. They operate, you know, not on a, on a profit basis. And usually by the generous donations of people that give to those organizations. Right. And so I just want to say, um, you know, maybe I know it's tough times or whatever, those types of things, but one way that you can give back to the community, actually two ways. You can either do it monetarily and give to one of your favorite nonprofits in the area, or you can volunteer your time and be a part of that organization. And, uh, these organizations, I'm going to name a few. Uh, we just want to, you know, thank you for what you do in our community and give you a little recognition. I'm not going to be able to name all of them, but we can, uh, you know, from time to time, uh, do a podcast with some of the local, uh, charities, Richard. That's a good idea. And, and to get them to come in and talk about their services. So real quick, I just want to say, uh, there's Catholic charities. Of course, there's the Salvation Army, Goodwill, Vincent DePaul. There's, uh, the Sun, Sunshine Kids Foundation, United Way. There's many of them. And I know that, uh, that you particularly, uh, with Divine Spa, uh, do a wonderful thing for, for one of the ladies groups, I believe, or the nonprofit that houses homeless women or, or what was it? It's abuse women and children, uh, shelter. We, um, we've been doing this for years now, over 10 years, we're donating massages and facials. And, uh, we, um, they always, uh, send the, you know, participants and we make them look beautiful and relaxed and, uh, free of charge. We never ask anyone to, you know, do anything. And the only thing we get, and we have so many of them every single time after they leave, they get it. They send us a thank you card. And I tell you what, there, there, there, there were plenty tears in our spa, uh, shared with, between the therapist when they reading it. And I just have chills talking about it because for a couple of years, our therapist didn't even know we do that until one of the ladies, uh, that was receiving facial, uh, she shared a story with one of our therapist and the therapist panic and, and, uh, ran outside and start crying. And, and, um, kind of was upset that we never told her because we, we pay our, uh, therapist for, for their work. We just don't tell them, you know, we don't charge, uh, we don't charge the ladies that come in. So yes, we are very involved, but we are involved always and try to always be involved the hands down, um, or hands on, um, you know, or off, uh, because somebody else puts hands on. Uh, and we, before previously we were doing and working with kids with autism, uh, there was a program, wonderful program, uh, was, uh, named, uh, dance with no limits. And the kids, uh, were, um, absolutely, we were changing their lives. Uh, there was a girl, uh, like to share the story. She was four years old. Unfortunately, she couldn't, she didn't speak when she started, uh, she was wearing diapers. And after one of our person that was in charge of it, um, that was providing that actually we were, we were producers of this whole dance with no limit. Uh, her name is Tina. Uh, she was working with, uh, with the kids once, uh, and, uh, in two weeks. And, uh, there was like a dance class for two hours. After one year, that girl was five and she started singing and dancing, and she was start communicating with her mom. That is really awesome. There was an article in the Naples Daily News written about it. Isn't that wonderful? We try to change lives and we try to change lives when we are involved personally or somehow, you know, we can do and we can see the results. It's just the most amazing feeling that you can have, then you can do something like that. So go ahead and go out and either give monetarily to, to these organizations that are reaching out and helping our community or go help yourself. And I have another one, one more, National Thrift Shot Day. Wow. Yeah. And let me tell you, you know what, actually it coincides with nonprofits because lots of nonprofits have thrift shops. Yes. And that's one of the ways that they are able to fund their ministries or whatever they're doing. So maybe go out and visit a thrift shop and buy something. But listen, okay? It's, you can look at it. Is that garage selling? Yeah, I was going to tell you it's like an upscale. It's a step up from garage selling. So anyway, anyway, that's what I have for you. Luxurious garage selling. Yeah. That's a good idea. I have actually, I have five tips that can help you to get this luxurious garage selling more smoother. Oh, good. So number one, if you plan ahead, you know, and just kind of pick your stores and see how you, you know, you may know if you're getting some furniture, you may want to get a truck. So that's, that would be helpful. Yeah. Now you also want to come to the thrift store and know what you're seeing. That means what you're putting hands on because some of the stuff could be very valuable. That's what I'm saying. I told you about garage selling the other day. That's why you have, you know, that's why you have a phone. So just go ahead and make sure you check the labels. If you find them around, look for the quality stuff, date when it was and just Google it. When maybe a piece of furniture was dated, find out. You don't know. In that case, also know what you're buying. Make sure you don't, that you don't come home with that. And say, that's a junk. Put it in the garage. We were talking about garage selling yesterday, so go to our previous episode and see. You can save a lot of money in thrift stores on the clothing. And we have a friend. His name is Roman and he is absolutely specialist on this. So if you need help with those things, let us know. Some of the shoes that he finds there award a lot of money. You're putting them on eBay and making actually money on them. Maybe you can buy Roman a sausage and he'll go with you. And you buy him sausage, he will tell you. It's a good secret. And some of the stuff you just, you know, you can, maybe it's broken or something. You find it cheap, just fix it. Maybe if you're handy, you save a lot of money with that. So, you know, keep that in mind. That's all national days you have. Yeah, that's it. I have one which is really important. Well, they were important to me. That's why I picked them. Yeah, I know. It's a time right now, right now, today, when we need to... Now? Yes, right now. Now. Right now. And it was also before, since midnight. But I want to know about now. Now. Okay. You ready? Okay. Now I'm ready. Baby boomers recognition day. So recognize them right now. Yeah. Okay. Hey, baby boomers. Hey, baby boomers. Whee. There's 10,000 baby... Maybe you can get yourself a cake. Not a hurricane cake, but anyway. There's 10,000 baby boomers... 10,000 baby boomers are retiring because they turn 65 every day. Can you imagine? Yeah, and it's actually... Every single day, 10,000 baby boomers are 65. Do you know what else? It's the largest transfer of wealth ever in the history of the world. Yeah. And their life expectancy is 83. Really? And those are the people that build the economy since 50s. They start... There's some other things they've done too, but... You can tell me about them, but let me tell you. I'll leave it for another show. It's just that generation is really strong, and they are moving around now since they are retired. So come on in. Come on in. We are ready for you. Yeah, we are. We have a spa. You can relax. We have a vine we can get you on. Sandwiches, ice cream. We have coffee. We have sandwiches for the beach. Baby boomers, divine apples here for you. Yeah. Just come and help us with our economy. Support our local businesses. And we might even make you a hurricane cake. Yeah, if you ask.
The Breakdown
A highlight from A Primer on China's Current Economic Turmoil
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Thursday, August 17th, and today we are doing a great, big, what the heck is going on with China episode. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link at the show notes or go to bit .ly slash breakdown pod. Hello friends, we are rumbling on towards the end of the week. And speaking of rumblings, if you have been watching the macro Twittersphere closely, there have been growing rumblings about China. You see it pop up a little bit in mainstream media and on YouTube's and certainly now happening on podcasts. And then yesterday, Preston Pish tweeted, anyone have a really good and recent article or podcast on what's happening with the economy in China right now? Well over here at The Breakdown, that really cinched it that we were going to dig into this. And before we do the usual caveats, one, I am not a China expert, just like basically I'm not an expert on anything we talk about here. But what we try to do well over here at The Breakdown is aggregate sources to help you better understand what's happening at least a little bit better. And number two, to the extent it comes up, apologies in advance for pronunciations or perhaps I should say mispronunciations. With that, let's try to get a sense of what's happening and why it matters. On Tuesday, the People's Bank of China cut rates on one year loans by 15 basis points to 2 .5%. This is the largest cut since 2020 and was an emergency policy adjustment following the release of some truly dismal economic data. July data showed weak consumer spending growth, sliding investment and rising unemployment. Youth unemployment for people between the ages of 16 and 24 hit 21 % in June. I know you guys can do the math, but to put that differently, that means one in five young people are now out of work. In fact, this month, the National Bureau of Statistics didn't actually release data on youth unemployment, stating that they needed to adjust their methodology to exclude students seeking their first job. Now, over in currency land, the yuan has devalued by 6 % over the course of the year, recently reaching the low point it recorded last October of 7 .3 yuan per dollar. That's the weakest exchange rate for the yuan since late 2007. Data from June showed that China have decreased their holdings of U .S. treasuries for three months in a row, bringing them to a 14 -year low. Some analysts believe that these reserves have been mobilized to defend the yuan from devaluing too rapidly. June CPI data released last week showed that the Chinese economy was in outright deflation. Consumer prices fell by 0 .3 % on an annualized basis. Manufacturing activity has now contracted for four months straight, and GDP growth this year has been paltry, recording 2 .2 % in the first quarter and just 0 .8 % in the second quarter. Multiple international banks have now downgraded Chinese growth estimates, forecasting that the economy will fail to achieve the 5 % growth target set by the CCP. And if that target is not hit, it will be the third year in a row with sub -5 % growth, an unprecedented rough patch in the post -Mao era from 1976 onwards. Now, contributing to this are debt problems, credit problems, and social stability problems. But before we get to those, let's do a whistle -stop review of the last few years in China to see how things wound up in this position. You will remember that during the pandemic, China ran one of the strictest and longest -running lockdown regimes in the world. And while the impact of the lockdown on the people of China was of course immense, the disruption it caused was also a major driver in economic dysfunction. Global supply chains became broken, impacting items from semiconductors to gym equipment. While the fragility of supply chains based in Chinese manufacturing had long been a talking point for hawks in the West, the failure of multiple critical supply chains during the pandemic cemented the idea of reshoring manufacturing across the political aisle in the US. Since taking office, the Biden administration has pursued major industrial policy with a view to decoupling critical industries from reliance on China. The financial sector has also been discouraged from investing in China over the past few years, with a range of policies and pressure campaigns ensuring that capital flows into China are crimped. And as a little bit of a self -shill, if you want to hear about how this has been impacting the development of their artificial intelligence field, go check that out. There continues to be incredible pressure on the Biden administration to even increase restrictions on export of AI -related technology to China, even though many of those restrictions are already in place. Anyway, heading back into the COVID era, as the rest of the world opened up and rolled back lockdowns in late 2021, China continued to be locked down into the strict zero COVID era. Many times, even when it appeared that things were on the verge of opening back up, some new outbreak would cause another lockdown, leading ultimately to citizens bristling at the continuation of tough track and trace policies. Another big notable event during this time was that in December of 2021, the massive Evergrande property development group defaulted on an interest payment on its corporate bonds. The property giant had been severely impacted by a crackdown on leverage within the property sector in 2020 and had struggled to refinance its debt. The tightening of credit standards was known as the three red lines policy and was intended to reduce the credit risk of home builders. When it collapsed, Evergrande had over 50 million apartments left unfinished, leaving homeowners to question whether they would ever receive finished units. The Evergrande failure precipitated further economic problems across China in 2022. Protesters staged demonstrations outside banks, with organized groups refusing to make mortgage payments on unfinished homes. In many cases, mortgages had been taken out prior to construction beginning, and so you can only imagine the frustration of people who were continuing to pay for homes that had been further and further delayed and who couldn't actually even live in them. In that same time period, multiple banks and wealth management products failed across the country and Chinese real estate in general entered its most severe downturn in history. Now the government did step in to manage the Evergrande failure and broader economic contagion. They were, however, in a tough position. Government policy around the restriction of credit to the property sector had been a major catalyst for the problems, but officials were reluctant to wind back the regulations entirely. President Xi Jinping has been outspoken about reducing the financialization of housing, stating, quote, houses are for living in, not for speculation. Now diving a little bit deeper into this area of the economy, the property sector is a key part of basically every major economy, but China takes this element to the extreme. China has one of the most overvalued housing markets in the world in relation to income. On average, an apartment cost over 30 times annual income, with major cities like Shanghai bringing this ratio as high as 50 times income. In the US, the ratio between housing costs and income is closer to four times on average and 10 times for major metros like New York and San Diego. Part of the reason housing is so expensive is that Chinese citizens use housing as a primary store of wealth. Again, this is true globally, but it's particularly lopsided in China. Housing accounts for more than 70 % of household wealth in China. Many people invest in property and then hold it vacant to preserve its value as a never lived in home. China has some of the highest rates of homeownership in the world, with as many as 90 % of households owning at least one property. This skew towards the property sector is largely a function of mistrust in other domestic assets, as well as tight capital controls. The Chinese stock market is notoriously opaque and lacking in the disclosure rules that provide a semblance of investor protection in the West. And while managed investment products are popular, they're often just proxies for exposure to the property sector. Analysts typically measure the Chinese property sector as representing around 30 % of Chinese GDP, which compares to the estimates of around 17 % in the US. Now other countries, including Canada and Australia, have similar levels of household wealth and GDP contribution from the property sector. But the key difference for the Chinese housing industry is the sheer scale of the market. Chinese real estate is estimated to be worth $42 .7 trillion. This is slightly larger than the US real estate market in aggregate, and even a few trillion dollars bigger than the total market capitalization of the entire US stock market. Many point to Chinese real estate then as the largest asset class in the world, and it is going down hard right now. Official data has new home prices down 2 .4 % across China since their peak in August of 2021. Existing homes have dropped by 6 % in the same time. This is already a massive drop for a housing market that was generally assumed to go up forever, but these official average figures don't tell the whole story. In China, closing prices for real estate are not public, so the official data is an estimate at best and a political fabrication at worst. The data relies on surveys and has significant smoothing to dampen trends. This makes turning points difficult to capture and could mean the official data is not telling the full story. Private data from property agents shows major markets like Shanghai and Shenzhen falling by at least 15 % in prime neighborhoods. The real estate surrounding Alibaba's headquarters is estimated to have lost a quarter of its value. Goldman Sachs economist Wang Lishang said, Now, alongside the fall in the housing market, more acute problems in the financial sector have also sprung up recently. At the end of July, Zhongrong International Trust Company missed payments across dozens of wealth management products. The company is a gigantic player in the Chinese shadow banking sector, which intermediates loans between individuals and private lenders. They primarily deal in the sale of real estate backed bonds, and at least 30 products are now overdue, and the company have said they have no immediate plans to make clients whole. Chinese authorities have set up a task force to investigate potential contagion, and banking regulators are looking into risks at the firm's part owner, Zhongjie Enterprise Group. Zhongjie managed around $138 billion. Jason Hsu, chief investment officer of Raelient Global Advisors, said, This was one that everyone knew was going to blow up. Overall, there are 106 trust products across the country in default through to July of this year, worth around $6 billion in principle. Real estate investments have accounted for 74 % of default by value. Corporate defaults are also up in recent months. June and July recorded missed payments on more than a billion dollars in domestic notes. That's the worst stretch since last December and January, which was punctuated by the default of Evergrande. This time around, the problem seems centered on an even larger property developer called Country Garden. The firm is considered by most to be the largest home builder in China and has more than four times as many outstanding projects as Evergrande. Country Garden has missed payments on its dollar -denominated bonds and is currently inside a 30 -day grace period prior to a formal default. Trading has been suspended on at least 11 onshore notes, and payment extension proposals are in the works. Country Garden's January 2024 dollar bond issuance traded at 9 cents earlier this week, an implied yield of 2 ,500%, just to give you an idea of how the market is pricing the firm's chance of recovery here. Now, as credit risk rips through domestic markets, China's major state -owned banks have been told to sell dollars to buy yuan in both onshore and offshore markets. According to anonymous sources speaking to Reuters, Chinese banks have been propping up the yuan throughout the week in an attempt to control the decline of the currency. Now, standard caveat on quoting Zero Hedge, but Zero Hedge is also reporting that Beijing have urged investment funds not to sell off Chinese stocks. Taking a step back, up until recently, the Chinese reopening was a major narrative for markets. There had been turmoil across China over the last two years, but many investors consoled themselves that China would reopen strong and provide some much -needed growth to the global economy. What's happened is almost the complete opposite. Chinese growth has come in weak and sputtered along since reopening. It now looks like China is headed for a recession at best, if not a full -blown financial crisis. Carnegie Endowment senior fellow Michael Pettis wrote, It may seem like terrible luck and amazing coincidence that so many things are going wrong in the Chinese economy at the same time. But of course, it is not a coincidence at all. This is how systemic imbalances work themselves out. I've often written about the Minskyan dynamics of long periods in which market variables move persistently in the same direction. When that happens, businesses, banks, local governments, and households who implicitly or explicitly take too much one -direction risk systematically outperform those that don't, until eventually the operations and balance sheets of much of the economy are directly or indirectly leveraged to those variables. That is why, when that variable finally reverses, the damage can often be much greater than anyone expected, mainly because no one understood the extent of the implicit and explicit exposures. Decades of surging property prices, expanding liquidity, and contracting credit spreads in China have created an economy in which balance sheets have highly correlated mismatches and distortions. In that case, the impact of an eventual reversal is brutally hard to predict. What about the response? Well, three weeks ago, when it had become clear that China was entering another period of economic distress, Chinese leaders vowed to provide more support. The Politburo pledged to spur consumer spending, tackle unemployment, and backstop the property sector. However, details were sorely lacking. The Politburo's statement acknowledged that the economic recovery after reopening was making quote torturous progress and that it was necessary to quote actively expand domestic demand and expand consumption by increasing residents' income. Julian Evans -Pritchard, head of China economics at Capital Economics, lamented the lack of a clear plan. He said at the time, Given how bad things are at the moment, it is a bit disappointing that they didn't give us some figures. And while their statement did recognize the risk to the economy, Evans -Pritchard said quote, They are not so desperate that they feel the need to resort to the old -school Big Bang stimulus. What he's referring to is that during prior downturns during the 2008 global financial crisis and the 2012 euro crisis, the CCP was eager to dole out massive stimulus on the supply side. The Chinese government directed the stockpiling of commodities and gigantic infrastructure projects to keep growth ticking over at a fast pace despite global economic turmoil. This time around, as of yet, there is no clear policy, just haphazard emergency interventions. For example, the People's Bank of China has cut rates, but there's a limit to what monetary stimulus can do to support consumption. This time, the problem is deflation, a collapse of demand. Until now, Chinese policymakers have largely been able to keep the economy out of the ditch using only supply -side stimulus, but it's not clear that that will work again. Late on Monday, Kai Fang, a member of the Monetary Policy Committee at the PBOC, warned that emergency rate cuts would not be enough. He said, Fang joins a growing chorus of economists insisting on direct transfer payments to consumers in order to support spending. This option has been controversial with senior Politburo figures, however, and so far Beijing has ignored the suggestion. Many have suggested instead that tax and fee cuts for companies were the most direct, fair, and efficient way to stimulate the economy. Senior Party members also have a history of warning against the Of course, the concern is that the underlying problem might be a simple lack of capacity. China's government resources are distributed through numerous local governments. These governments typically raise funding through land sales, but with the property sector in trouble, this line of revenue is less viable. There has also been an ongoing dispute between the central party and provincial governments. During the turmoil of the last few years, Beijing has been reluctant to come to the aid of overindebted regional governments. Estimates vary wildly due to the large amount of off -balance sheet liabilities, but Goldman Sachs analysts think there could be as much as $13 trillion in debt held by local governments. China's GDP is around $17 trillion annually, so there could be significantly less fiscal space for stimulus than the publicly disclosed figures imply. Liu Chao, professor of finance at Peking University, said, Now, as you might imagine, overarching all of these economic problems are the very real political considerations. Tensions around the rule of President Xi Jinping have started to come to a head around the financial turmoil of the last two years. For the first time, we've seen evidence of open protests against Xi on the mainland. Now, of course, it's impossible to tell how widespread the antipathy towards Xi is, but it's hard not to view at least some of the events of the last couple years as cracks emerging. And so really where we're left to do a very brief summary is a situation in which a set of challenges are converging all at the same time. And they're a set of challenges not necessarily easily solved by old techniques. Officials are caught between wanting to run back the old playbook and trying to figure out if there's a new playbook that'll work better. Michael Pettis again wrote, What got China into this mess has been over a decade of massive amounts of investment in unnecessary infrastructure and empty apartments. If this investment had been economically justified, rising debt would have been more than matched by rising productive capacity and GDP, which means local government debt would have never become the problem it has clearly become. I understand why many policy advisors are so worried about China's economic slowdown, that they are turning again to the old policies that boosted GDP in the past. But more of the same won't get China out of the mess that more of the same got it into. Now, of course, outside of China, the big questions are how a Chinese recession or slowdown or even financial crisis will impact the global economy. One thing that some observers have noted is that we haven't had a normal business cycle recession in so long. In other words, we haven't had a downturn precipitated by anything other than a financial crisis for so long that we kind of don't know how to handle it. We don't really have a playbook for what to do with it, at least not one that's been updated recently. To some extent, I wonder if the not knowingness of the situation is contributing to the anxiety around it, but as with any macro topic, it is an extremely dense, complex, nuanced intertwined set of issues. And so the best we can do is keep trying to keep track of it and recontextualize as new events teach us more about what's happening. Hope this was a helpful primer, at least a little bit on what's going on. Until next time, peace.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"I'll tell you what. Some things are not the way they look. First of all, gas price is getting hot. Oh yeah, they're getting higher. And the weather is getting cold. Let me explain. That's awesome. Gas prices went from $371 to $409, which I assume that's for the cheaper gas because I don't use that one. Right. I like to spend money and support all industry, so I pay for the most expensive. It's called 93. Whatever that 93 is. That's the Octane. Yeah, whatever. Because that's the lowest Octane in Europe, just so you know. Yeah, 93 is? Yeah. Yeah, but I mean you got pretty much all high performance cars there. Yeah, that's correct. Except for those ones that were behind that curtain you lived in. That was high performance too. They were all the same color and the same size. Well, you at least have one of those. I do. The weather is kind of cooling down in Atlantic. There's some push of the new waves, bigger waves with the winds. Is that good? We will find out I guess, you know. Maybe we're getting some global cooling. We have to call, what is his name? Al Gore. Yeah, his office. He knows. He knows. And he already knew before. Yeah, of course. So we have some cool weather. It's going to be rain, so get ready. Right. And that's what I have to say about this thing. Hey, that's awesome. Yeah, go ahead. So it's going to be hot. Yeah, I mean hot. Yeah. But no. But not as hot. No, what happened is, you know, when we have people and I'm in a coffee shop, by the way, Divine Naples Coffee and Wine Board, just they plug it in. Yeah, they just throw it in. But they don't know. How would they know? So if some lady comes in, you know, and I'm there, I immediately take a chart so they're taking care of it. You know what I'm saying? Oh, yeah. You're always on that. Just a hundred percent service. What happens if you guys come in? Are you going to do this? I'm busy here. And so I, you know, I always say, you want to sit inside, outside? And they go, we're going to sit inside. It's too hot. And I look at them and I go, it's like, well, that's your fault. You came that way.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"Equal opportunity. I am an equal opportunity. And equal coverage. Yeah, I'm an equal opportunity offender, too. I'll offend everybody at least once. I know, you do. And you know what? You're going to be more busy because there's more ladies in the world than men. Wow. So hey, ladies, quit bringing lunch to the beach and let us deliver it. Did I mention Matt is single? Yeah. Almost every podcast. Don't do that because they're going to start asking, there's really got to be something wrong with this guy. That is kind of wrong. No way. But there's so much wrong that somebody could come along and make it right. Well, let's see if you can find somebody who has the capabilities. I don't think... You know, it just reminds me... How do you know they're not on another planet? You know what reminds me? When my parents got divorced, my father, you know, there was a communist. They created this service. Yeah, the land you said you loved living in. Yeah, the land I was living in. And they created this service, they wanted to shift people around, you know, like a working class with working class and intelligent people with intelligent people. It is a smart theory, right? So there was a service somewhere in the 70s. You brought a letter, sent a picture, and brought the requirements of the person you're looking for, right? So my father told me, he sent the letter, you know, did all the requirements, you're looking into wife, future wife, and, you know, the picture of his, picture. And he didn't hear anything back in three months, so he was like, oh, he forgot about it, right? Nine months later, he got a letter back, right, from the government. Seriously, government was working on it. Sure, they were working on everything. Like a matchmaker, right? Yeah. So he got the letter back in nine months, saying, Mr. Miller, we are very sorry, but the person that you are looking for was not born yet. Yeah, don't worry, this is never going to exist. I have, though, I feel like you are in the same boat. Well, thank you. Yeah, a person for you was not born yet. Yeah, and you know, it might have been, you know, I just wouldn't have wanted to be put into the same category with the people that are like-minded. Why not put me in, you know, I'm semi-intelligent, put me in with people that might have low IQs so I can manipulate them. I'm kidding. I'm kidding. Oh, my God. I'm kidding. That's really interesting. I will think about it. Yes, yes. That's a good plan. Right. You're doing, you should be employed immediately, there's 20 of those around. Yeah. Well, let me go back to printing some money which has value of $500. Of course, divinapos.com forward slash discount-coupons is waiting for you and for your printer. Yeah. Get ready. And if you're thinking it's real money, that might get you 5 to 10, as in 5 to 10 years. Listen, $500 may be worth for that, you know, these days. But those are, I just want to say, those are some great deals, so go ahead and get on your computer, take a look at it, you know, print them off and come on down and use them. Yeah. That's all I can say. Absolutely. You don't have to come down, you can come up. Up, down, whatever. Maybe the basement. Whatever pleases you. There may be in the basement. You never know. We're just trying to please the deer, right? Isn't that the theme today? I'm the pleaser. Yeah. Yeah. Females. Yeah. You're the males. Yesterday, did you research it, how to be certified sunscreen-applier and male's body? No, I had no interest. You were interested, you know. I had no interest. If you need to know more details, please go back to refer to the podcast, yesterday podcast. My head was really interesting to take the job as a, you know, walking on the beach with sunscreen in his hands as a certified-applier on male's body. Yeah, right. You just like that type of real estate. Thank you. Yeah, then maybe just people know. Maybe somebody is knowledgeable about this. I think I'll pass. So, last thing, wellness month. Don't forget, we're going to be talking about feet today. So, stick around, we're going to be, not stink around, stick around. People cannot know what to do with their feet. Our spa, Divine Spa, provides the service on our feet. We will tell you a little bit more about it. It's called reflexology. It's 3,000 years old. Not the feet, the service. It's not the spell. That was exhausting, officials. We don't know, but we just want you to know that's from our heart raw without any script. I love it. I tell you what, yesterday we were talking about Divine Naples and all these people that know what doesn't know. Some know or they don't know. They don't know. I don't know. There's plenty of them on Facebook, but today I just want to say, Divine Naples is here for every single person, especially for people passionate in business. We want to be your voice. Please, share with us anything you need people to know. Send us email at info at divinenapels.com or direct message on any social media. We also created a new page on Facebook, which is Divine Naples Podcast. You can find it because it's facebook.com forward slash Naples Podcast, believe it or not. We are all around the world. Now, we can find us on Spotify and also in Basel's Heaven, which is Amazon Music. We are growing. Not like the fungus on a foot or some smell or anything. We are growing so much that we had to make our door bigger. That's right. Open it up to everybody. I mean this door. We're all inclusive. This door here. We can't get out of the studio. You need to quit pounding cake. Why don't you have another piece of cake? No.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"Listen, $500 may be worth for that, you know, these days. But those are, I just want to say, those are some great deals, so go ahead and get on your computer, take a look at it, you know, print them off and come on down and use them. Yeah. That's all I can say. Absolutely. You don't have to come down, you can come up. Up, down, whatever. Maybe the basement. Whatever pleases you. There may be in the basement. You never know. We're just trying to please the deer, right? Isn't that the theme today? I'm the pleaser. Yeah. Yeah. Females. Yeah. You're the males. Yesterday, did you research it, how to be certified sunscreen-applier and male's body? No, I had no interest. You were interested, you know. I had no interest. If you need to know more details, please go back to refer to the podcast, yesterday podcast. My head was really interesting to take the job as a, you know, walking on the beach with sunscreen in his hands as a certified-applier on male's body. Yeah, right. You just like that type of real estate. Thank you. Yeah, then maybe just people know. Maybe somebody is knowledgeable about this. I think I'll pass. So, last thing, wellness month. Don't forget, we're going to be talking about feet today. So, stick around, we're going to be, not stink around, stick around. People cannot know what to do with their feet. Our spa, Divine Spa, provides the service on our feet. We will tell you a little bit more about it. It's called reflexology. It's 3,000 years old. Not the feet, the service. It's not the spell. That was exhausting, officials. We don't know, but we just want you to know that's from our heart raw without any script. I love it. I tell you what, yesterday we were talking about Divine Naples and all these people that know what doesn't know. Some know or they don't know. They don't know. I don't know. There's plenty of them on Facebook, but today I just want to say, Divine Naples is here for every single person, especially for people passionate in business. We want to be your voice. Please, share with us anything you need people to know. Send us email at info at divinenapels.com or direct message on any social media. We also created a new page on Facebook, which is Divine Naples Podcast. You can find it because it's facebook.com forward slash Naples Podcast, believe it or not. We are all around the world. Now, we can find us on Spotify and also in Basel's Heaven, which is Amazon Music. We are growing. Not like the fungus on a foot or some smell or anything. We are growing so much that we had to make our door bigger. That's right. Open it up to everybody. I mean this door. We're all inclusive. This door here. We can't get out of the studio. You need to quit pounding cake. Why don't you have another piece of cake? No.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"And divine it is, it's divine Thursday August 17 episode 416 from this Mike Rich and from this Mike Matt with Hello All Divine People, I forgot that. Yeah, you did. Yeah, you can. How can you not do our normal? You want me to start all over again or did you get to go? No, I've had enough of that in my ear right now. It was, you probably heard it 415 times, this is 16. Oh, yeah. You should know, so you remind me next time. Right, I just kind of tune it out. Until we get to the meat of the substance. Oh, okay. That's what we're talking about. What's the substance? I don't know. You're the one that's going to lead us in this endeavor. Oh, am I? Why am I leading? Because you're the one that kind of, we sometimes discuss, but you take the lead on what we're going to talk about and then I just chime in. Okay. Because I'm lazy. That's correct. We're getting close to a small Saturday, it's just tomorrow, so you're already getting lazy. You're thinking, what are you going to do on Sunday? That's on small Saturday, I get ready to slide into the weekend, which means relaxation and food. A lot of food. Yeah. Well, not a lot, but you know, it just depends. I don't know. You don't know what I might bring by this week. What are you going to bring by? I don't know. Last week. Just don't bring me buffalo sauce. Yeah, that was not disgusting, but it didn't make a giro, gyro, how do you say that? Giro. Oh, giro. Giro with buffalo sauce. Right. It's like you were eating chicken wings. Chicken wings, yeah, with peanut butter. And jelly. You know what, that's the sandwich I never had. Peanut butter and jelly. You know what, maybe I should, you know they make a grilled peanut butter and jelly sandwich, maybe I should make you one of those and bring it by. I tell you the truth, you want to hear it? I used to like peanuts, right? Like salty, nice, smoked, whatever, you know. Yeah, whatever you flavor them up like. But after we had done the episode about peanuts, which might be like a 216 podcast show, I stopped eating peanuts. It was probably because I think we wrote an article about peanuts on that. No, that was pretty much the name. Pea nuts. Pea nuts. Well, you really shouldn't let such a mental block keep you from enjoying one of God's greatest creations is a peanut. I mean, how can you not eat peanut butter? To not have peanut butter on a nice hot piece of toast like sourdough and then your favorite jam, what's wrong with you? Well, there's a lot wrong with you. Yes, that's correct. First of all, let me just rephrase. You call me mental now, like a mental break. No. So I'm broken mental, right? No. I would never insult anybody like that. No, you just did. So that's one thing. There's plenty of options. There's, for example, almond butter. Well, yeah, but I mean, it's not quite the same. You can keep your pea and the nuts too. That's the subject closed. One more thing real quick. I mean, when you get natural almond butter, do you really dig having to stir the oil back into it all the time? No, I throw it in. You know what I do with it? Why would you get rid of the best part of the entire stuff that's where all the flavor Let me teach you. First of all, what I do is as soon as I buy it, I'll take it out of the plastic jar, put it in the mixer, Vitamix, whatever that thing is, and Blendex. Blendex, not Vitamix. Blendex, that's what I have. $500 mixer does the job. Yeah, I know. That's what I have. That's you? Yeah. Did you get that at a garage sale? No, I did not. I got it cheaper on Amazon. No, sorry, on Facebook. Somebody shipped it to me from a different store because it's $500 but I paid $150. That's great. You are very good at, you're thrifty. We're going to talk about that. Yeah, we cannot do that. And I put it in, mix it together, okay? Yeah. And put it in the glass jar so I don't have those chemicals bleached anymore from the plastic. This is natural stuff. I'm talking about the oil. I understand that. The oil mixed together back with the nuts so I put the oil back into nuts. Oh, okay. You got it? All right. You got this reverse engineering. Okay, there you go. Are you satisfied now? Yeah, I'm done with the peanut butter, almond butter. No, so keep your pee and keep your nuts as well. I don't have nothing to do with that. Okay. Let's go to officials. Ready? Why don't you go to the officials? I'll take a sip of coffee. Julie and Bruce, thank you for the music. Tera Kitarra and Pachuli Music. All that you hear, the tunes, the wonderful tunes and interim song. Beach SOS is our unofficial sponsor or official sponsor. However, we... Take your pick. Yeah. You choose if you, for some reason, any reason you can pick. There's going to be plenty. Don't want to lose parking spot. No, that's the number one. We want to be here for you. Right. Because this service and this business was established specifically for humans, men. And beach delivery. Yeah, because they always pack the stuff on the beach and they always forget something. So ladies, please remind them, beachesos.com is here for them to save their lives before all the ladies get on and give them earful. Or you could purposely do this. The ladies were commissioned to put the picnic basket together, right? But the day before, they really didn't want to do it, right? So they just never put it together. And then when you get to the beach and your guy asks you, where's all the stuff? You just go... Because you didn't want to cook that day. You just wanted to be pampered and spoiled. And you could just go, oh, man, I forgot it. And then say, hey, I know this place and we can just order everything. And then just order your heart away. Yeah, so... Does that sound... It might sound a little deceptive, but... No, no. But Matt is here for representing ladies. I'm here representing men. Equal opportunity. I am an equal opportunity. And equal coverage. Yeah, I'm an equal opportunity offender, too. I'll offend everybody at least once. I know, you do. And you know what? You're going to be more busy because there's more ladies in the world than men. Wow. So hey, ladies, quit bringing lunch to the beach and let us deliver it. Did I mention Matt is single? Yeah. Almost every podcast. Don't do that because they're going to start asking, there's really got to be something wrong with this guy. That is kind of wrong. No way. But there's so much wrong that somebody could come along and make it right. Well, let's see if you can find somebody who has the capabilities. I don't think... You know, it just reminds me... How do you know they're not on another planet? You know what reminds me? When my parents got divorced, my father, you know, there was a communist. They created this service. Yeah, the land you said you loved living in. Yeah, the land I was living in. And they created this service, they wanted to shift people around, you know, like a working class with working class and intelligent people with intelligent people. It is a smart theory, right? So there was a service somewhere in the 70s. You brought a letter, sent a picture, and brought the requirements of the person you're looking for, right? So my father told me, he sent the letter, you know, did all the requirements, you're looking into wife, future wife, and, you know, the picture of his, picture. And he didn't hear anything back in three months, so he was like, oh, he forgot about it, right? Nine months later, he got a letter back, right, from the government. Seriously, government was working on it. Sure, they were working on everything. Like a matchmaker, right? Yeah. So he got the letter back in nine months, saying, Mr. Miller, we are very sorry, but the person that you are looking for was not born yet. Yeah, don't worry, this is never going to exist. I have, though, I feel like you are in the same boat. Well, thank you. Yeah, a person for you was not born yet. Yeah, and you know, it might have been, you know, I just wouldn't have wanted to be put into the same category with the people that are like-minded. Why not put me in, you know, I'm semi-intelligent, put me in with people that might have low IQs so I can manipulate them. I'm kidding. I'm kidding. Oh, my God. I'm kidding. That's really interesting. I will think about it. Yes, yes. That's a good plan. Right. You're doing, you should be employed immediately, there's 20 of those around. Yeah. Well, let me go back to printing some money which has value of $500. Of course, divinapos.com forward slash discount-coupons is waiting for you and for your printer. Yeah. Get ready. And if you're thinking it's real money, that might get you 5 to 10, as in 5 to 10 years.
Divine Naples Podcast
A highlight from Matt ordered Rich to deliver the substance and lead the endeavor so that he can just chime in. Chicken wings with PEEnut butter is served. One told the other that he has a mental block, because he refused to eat PEE nuts. Lesson learned and here you are in the middle of it Episode #416 August 17th. 2023
"And divine is, it's divine Thursday August 17 episode 416 from this Mike Rich and from this Mike Matt with Hello All Divine People, I forgot that. Yeah, you did. Yeah, you can. How can you not do our normal? You want me to start all over again or did you get to go? No, I've had enough of that in my ear right now. It was, you probably heard it 415 times, this is 16. Oh, yeah. You should know, so you remind me next time. Right, I just kind of tune it out. Until we get to the meat of the substance. Oh, okay. That's what we're talking about. What's the substance? I don't know. You're the one that's going to lead us in this endeavor. Oh, am I? Why am I leading? Because you're the one that kind of, we sometimes discuss, but you take the lead on what we're going to talk about and then I just chime in. Okay. Because I'm lazy. That's correct. We're getting close to a small Saturday, it's just tomorrow, so you're already getting lazy. You're thinking, what are you going to do on Sunday? That's on small Saturday, I get ready to slide into the weekend, which means relaxation and food. A lot of food. Yeah. Well, not a lot, but you know, it just depends. I don't know. You don't know what I might bring by this week. What are you going to bring by? I don't know. Last week. Just don't bring me buffalo sauce. Yeah, that was not disgusting, but it didn't make a giro, gyro, how do you say that? Giro. Oh, giro. Giro with buffalo sauce. Right. It's like you were eating chicken wings. Chicken wings, yeah, with peanut butter. And jelly. You know what, that's the sandwich I never had. Peanut butter and jelly. You know what, maybe I should, you know they make a grilled peanut butter and jelly sandwich, maybe I should make you one of those and bring it by. I tell you the truth, you want to hear it? I used to like peanuts, right? Like salty, nice, smoked, whatever, you know. Yeah, whatever you flavor them up like. But after we had done the episode about peanuts, which might be like a 216 podcast show, I stopped eating peanuts. It was probably because I think we wrote an article about peanuts on that. No, that was pretty much the name. Pea nuts. Pea nuts. Well, you really shouldn't let such a mental block keep you from enjoying one of God's greatest creations is a peanut. I mean, how can you not eat peanut butter? To not have peanut butter on a nice hot piece of toast like sourdough and then your favorite jam, what's wrong with you? Well, there's a lot wrong with you. Yes, that's correct. First of all, let me just rephrase. You call me mental now, like a mental break. No. So I'm broken mental, right? No. I would never insult anybody like that. No, you just did. So that's one thing. There's plenty of options. There's, for example, almond butter. Well, yeah, but I mean, it's not quite the same. You can keep your pea and the nuts too. That's the subject closed. One more thing real quick. I mean, when you get natural almond butter, do you really dig having to stir the oil back into it all the time? No, I throw it in. You know what I do with it? Why would you get rid of the best part of the entire stuff that's where all the flavor Let me teach you. First of all, what I do is as soon as I buy it, I'll take it out of the plastic jar, put it in the mixer, Vitamix, whatever that thing is, and Blendex. Blendex, not Vitamix. Blendex, that's what I have. $500 mixer does the job. Yeah, I know. That's what I have. That's you? Yeah. Did you get that at a garage sale? No, I did not. I got it cheaper on Amazon. No, sorry, on Facebook. Somebody shipped it to me from a different store because it's $500 but I paid $150. That's great. You are very good at, you're thrifty. We're going to talk about that. Yeah, we cannot do that. And I put it in, mix it together, okay? Yeah. And put it in the glass jar so I don't have those chemicals bleached anymore from the plastic. This is natural stuff. I'm talking about the oil. I understand that. The mixed oil together back with the nuts so I put the oil back into nuts. Oh, okay. You got it? All right. You got this reverse engineering. Okay, there you go. Are you satisfied now? Yeah, I'm done with the peanut butter, almond butter. No, so keep your pee and keep your nuts as well. I don't have nothing to do with that. Okay. Let's go to officials. Ready? Why don't you go to the officials? I'll take a sip of coffee. Julie and Bruce, thank you for the music. Tera Kitarra and Pachuli Music. All that you hear, the tunes, the wonderful tunes and interim song. Beach SOS is our unofficial sponsor or official sponsor. However, we... Take your pick. Yeah. You choose if you, for some reason, any reason you can pick. There's going to be plenty. Don't want to lose parking spot. No, that's the number one. We want to be here for you. Right. Because this service and this business was established specifically for humans, men. And beach delivery. Yeah, because they always pack the stuff on the beach and they always forget something. So ladies, please remind them, beachesos .com is here for them to save their lives before all the ladies get on and give them earful. Or you could purposely do this. The ladies were commissioned to put the picnic basket together, right? But the day before, they really didn't want to do it, right? So they just never put it together. And then when you get to the beach and your guy asks you, where's all the stuff? You just go... Because you didn't want to cook that day. You just wanted to be pampered and spoiled. And you could just go, oh, man, I forgot it. And then say, hey, I know this place and we can just order everything. And then just order your heart away. Yeah, so... Does that sound... It might sound a little deceptive, but... No, no. But Matt is here for representing ladies. I'm here representing men. Equal opportunity. I am an equal opportunity. And equal coverage. Yeah, I'm an equal opportunity offender, too. I'll offend everybody at least once. I know, you do. And you know what? You're going to be more busy because there's more ladies in the world than men. Wow. So hey, ladies, quit bringing lunch to the beach and let us deliver it. Did I mention Matt is single? Yeah. Almost every podcast. Don't do that because they're going to start asking, there's really got to be something wrong with this guy. That is kind of wrong. No way. But there's so much wrong that somebody could come along and make it right. Well, let's see if you can find somebody who has the capabilities. I don't think... You know, it just reminds me... How do you know they're not on another planet? You know what reminds me? When my parents got divorced, my father, you know, there was a communist. this They created service. Yeah, the land you said you loved living in. Yeah, the land I was living in. And they created this service, they wanted to shift people around, you know, like a working class with working class and intelligent people with intelligent people. It is a smart theory, right? So there was a service somewhere in the 70s. You brought a letter, sent a picture, and brought the requirements of the person you're looking for, right? So my father told me, he sent the letter, you know, did all the requirements, you're looking into wife, future wife, and, you know, the picture of his, picture. And he didn't hear anything back in three months, so he was like, oh, he forgot about it, right? Nine months later, he got a letter back, right, from the government. Seriously, government was working on it. Sure, they were working on everything. Like a matchmaker, right? Yeah. So he got the letter back in nine months, saying, Mr. Miller, we are very sorry, but the person that you are looking for was not born yet. Yeah, don't worry, this is never going to exist. I have, though, I feel like you are in the same boat. Well, thank you. Yeah, a person for you was not born yet. Yeah, and you know, it might have been, you know, I just wouldn't have wanted to be put into the same category with the people that are like -minded. Why not put me in, you know, I'm semi -intelligent, put me in with people that might have low IQs so I can manipulate them. I'm kidding. I'm kidding. Oh, my God. I'm kidding. That's really interesting. I will think about it. Yes, yes. That's a good plan. Right. You're doing, you should be employed immediately, there's 20 of those around. Yeah. Well, let me go back to printing some money which has value of $500. Of course, divinapos .com forward slash discount -coupons is waiting for you and for your printer. Yeah. Get ready. And if you're thinking it's real money, that might get you 5 to 10, as in 5 to 10 years.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"Somebody shipped it to me from a different store because it's $500 but I paid $150. That's great. You are very good at, you're thrifty. We're going to talk about that. Yeah, we cannot do that. And I put it in, mix it together, okay? Yeah. And put it in the glass jar so I don't have those chemicals bleached anymore from the plastic. This is natural stuff. I'm talking about the oil. I understand that. The oil mixed together back with the nuts so I put the oil back into nuts. Oh, okay. You got it? All right. You got this reverse engineering. Okay, there you go. Are you satisfied now? Yeah, I'm done with the peanut butter, almond butter. No, so keep your pee and keep your nuts as well. I don't have nothing to do with that. Okay. Let's go to officials. Ready? Why don't you go to the officials? I'll take a sip of coffee. Julie and Bruce, thank you for the music. Tera Kitarra and Pachuli Music. All that you hear, the tunes, the wonderful tunes and interim song. Beach SOS is our unofficial sponsor or official sponsor. However, we... Take your pick. Yeah. You choose if you, for some reason, any reason you can pick. There's going to be plenty. Don't want to lose parking spot. No, that's the number one. We want to be here for you. Right. Because this service and this business was established specifically for humans, men. And beach delivery. Yeah, because they always pack the stuff on the beach and they always forget something. So ladies, please remind them, beachesos.com is here for them to save their lives before all the ladies get on and give them earful. Or you could purposely do this. The ladies were commissioned to put the picnic basket together, right? But the day before, they really didn't want to do it, right? So they just never put it together. And then when you get to the beach and your guy asks you, where's all the stuff? You just go... Because you didn't want to cook that day. You just wanted to be pampered and spoiled. And you could just go, oh, man, I forgot it. And then say, hey, I know this place and we can just order everything. And then just order your heart away. Yeah, so... Does that sound... It might sound a little deceptive, but... No, no. But Matt is here for representing ladies. I'm here representing men.
Divine Naples Podcast
"august. 17th" Discussed on Divine Naples Podcast
"And divine it is, it's divine Thursday August 17 episode 416 from this Mike Rich and from this Mike Matt with Hello All Divine People, I forgot that. Yeah, you did. Yeah, you can. How can you not do our normal? You want me to start all over again or did you get to go? No, I've had enough of that in my ear right now. It was, you probably heard it 415 times, this is 16. Oh, yeah. You should know, so you remind me next time. Right, I just kind of tune it out. Until we get to the meat of the substance. Oh, okay. That's what we're talking about. What's the substance? I don't know. You're the one that's going to lead us in this endeavor. Oh, am I? Why am I leading? Because you're the one that kind of, we sometimes discuss, but you take the lead on what we're going to talk about and then I just chime in. Okay. Because I'm lazy. That's correct. We're getting close to a small Saturday, it's just tomorrow, so you're already getting lazy. You're thinking, what are you going to do on Sunday? That's on small Saturday, I get ready to slide into the weekend, which means relaxation and food. A lot of food. Yeah. Well, not a lot, but you know, it just depends. I don't know. You don't know what I might bring by this week. What are you going to bring by? I don't know. Last week. Just don't bring me buffalo sauce. Yeah, that was not disgusting, but it didn't make a giro, gyro, how do you say that? Giro. Oh, giro. Giro with buffalo sauce. Right. It's like you were eating chicken wings. Chicken wings, yeah, with peanut butter. And jelly. You know what, that's the sandwich I never had. Peanut butter and jelly. You know what, maybe I should, you know they make a grilled peanut butter and jelly sandwich, maybe I should make you one of those and bring it by. I tell you the truth, you want to hear it? I used to like peanuts, right? Like salty, nice, smoked, whatever, you know. Yeah, whatever you flavor them up like. But after we had done the episode about peanuts, which might be like a 216 podcast show, I stopped eating peanuts. It was probably because I think we wrote an article about peanuts on that. No, that was pretty much the name. Pea nuts. Pea nuts. Well, you really shouldn't let such a mental block keep you from enjoying one of God's greatest creations is a peanut. I mean, how can you not eat peanut butter? To not have peanut butter on a nice hot piece of toast like sourdough and then your favorite jam, what's wrong with you? Well, there's a lot wrong with you. Yes, that's correct. First of all, let me just rephrase. You call me mental now, like a mental break. No. So I'm broken mental, right? No. I would never insult anybody like that. No, you just did. So that's one thing. There's plenty of options. There's, for example, almond butter. Well, yeah, but I mean, it's not quite the same. You can keep your pea and the nuts too. That's the subject closed. One more thing real quick. I mean, when you get natural almond butter, do you really dig having to stir the oil back into it all the time? No, I throw it in. You know what I do with it? Why would you get rid of the best part of the entire stuff that's where all the flavor Let me teach you. First of all, what I do is as soon as I buy it, I'll take it out of the plastic jar, put it in the mixer, Vitamix, whatever that thing is, and Blendex. Blendex, not Vitamix. Blendex, that's what I have. $500 mixer does the job. Yeah, I know. That's what I have. That's you? Yeah. Did you get that at a garage sale? No, I did not. I got it cheaper on Amazon. No, sorry, on Facebook.
Divine Naples Podcast
A highlight from Matt ordered Rich to deliver the substance and lead the endeavor so that he can just chime in. Chicken wings with PEEnut butter is served. One told the other that he has a mental block, because he refused to eat PEE nuts. Lesson learned and here you are in the middle of it Episode #416 August 17th. 2023
"And divine is, it's divine Thursday August 17 episode 416 from this Mike Rich and from this Mike Matt with Hello All Divine People, I forgot that. Yeah, you did. Yeah, you can. How can you not do our normal? You want me to start all over again or did you get to go? No, I've had enough of that in my ear right now. It was, you probably heard it 415 times, this is 16. Oh, yeah. You should know, so you remind me next time. Right, I just kind of tune it out. Until we get to the meat of the substance. Oh, okay. That's what we're talking about. What's the substance? I don't know. You're the one that's going to lead us in this endeavor. Oh, am I? Why am I leading? Because you're the one that kind of, we sometimes discuss, but you take the lead on what we're going to talk about and then I just chime in. Okay. Because I'm lazy. That's correct. We're getting close to a small Saturday, it's just tomorrow, so you're already getting lazy. You're thinking, what are you going to do on Sunday? That's on small Saturday, I get ready to slide into the weekend, which means relaxation and food. A lot of food. Yeah. Well, not a lot, but you know, it just depends. I don't know. You don't know what I might bring by this week. What are you going to bring by? I don't know. Last week. Just don't bring me buffalo sauce. Yeah, that was not disgusting, but it didn't make a giro, gyro, how do you say that? Giro. Oh, giro. Giro with buffalo sauce. Right. It's like you were eating chicken wings. Chicken wings, yeah, with peanut butter. And jelly. You know what, that's the sandwich I never had. Peanut butter and jelly. You know what, maybe I should, you know they make a grilled peanut butter and jelly sandwich, maybe I should make you one of those and bring it by. I tell you the truth, you want to hear it? I used to like peanuts, right? Like salty, nice, smoked, whatever, you know. Yeah, whatever you flavor them up like. But after we had done the episode about peanuts, which might be like a 216 podcast show, I stopped eating peanuts. It was probably because I think we wrote an article about peanuts on that. No, that was pretty much the name. Pea nuts. Pea nuts. Well, you really shouldn't let such a mental block keep you from enjoying one of God's greatest creations is a peanut. I mean, how can you not eat peanut butter? To not have peanut butter on a nice hot piece of toast like sourdough and then your favorite jam, what's wrong with you? Well, there's a lot wrong with you. Yes, that's correct. First of all, let me just rephrase. You call me mental now, like a mental break. No. So I'm broken mental, right? No. I would never insult anybody like that. No, you just did. So that's one thing. There's plenty of options. There's, for example, almond butter. Well, yeah, but I mean, it's not quite the same. You can keep your pea and the nuts too. That's the subject closed. One more thing real quick. I mean, when you get natural almond butter, do you really dig having to stir the oil back into it all the time? No, I throw it in. You know what I do with it? Why would you get rid of the best part of the entire stuff that's where all the flavor Let me teach you. First of all, what I do is as soon as I buy it, I'll take it out of the plastic jar, put it in the mixer, Vitamix, whatever that thing is, and Blendex. Blendex, not Vitamix. Blendex, that's what I have. $500 mixer does the job. Yeah, I know. That's what I have. That's you? Yeah. Did you get that at a garage sale? No, I did not. I got it cheaper on Amazon. No, sorry, on Facebook.
Ethereum Daily
A highlight from CoW Swap Launches TWAP Orders
"Welcome to your Ethereum news roundup, here's your latest for Thursday, August 17th, 2023. Calswap supports TWAP orders, Connex Network announces its next token airdrop, developers set the genesis supply for the Holsku testnet, and FHIR plans to release a smart wallet. All this and more starts right now. Optimism is providing us with 500 OP tokens to onboard users onto the network. Visit ether .fm forward slash NFT and enter code word SWAP for a chance to met today's podcast as an NFT on OP mainnet and earn a share of 500 OP tokens. The price of Ether is down more than 10 % over the last 24 hours and is currently trading at $1 ,638. The price drop comes amid a broader market downturn as China Evergrande, the second largest property developer in China, filed for Chapter 15 bankruptcy protection in New York. The news led to a sell -off resulting in over $700 million being wiped out from the crypto market in a matter of minutes. DEX aggregator Calswap now supports time -weighted average price orders, allowing users to execute large trades over time. Users can fully customize TWAP orders including the number of parts and the total amount of time to complete an order. TWAP orders provide better protection against slippage, price impact, and market fluctuations. The orders also benefit from Calswap's MEV protection, gasless trading, and order surplus. TWAP orders are currently only available for safe wallets that have upgraded their default fallback handler to support ERC -1271 signatures. Cross -chain bridge protocol Connex Network announced a cross -chain airdrop for its NEX token. The airdrop will go live on September 5th and will allow eligible users to claim their NEX tokens on the chain of their choice, including Arbitrum, Optimism, Polygon, or Gnosis Chain. Users can check eligibility criteria on airdrop .connex .network. Connex will be an ex -ERC20 cross -chain native governance token for the Connex DAO and ecosystem. Future use cases for NEX include staking functionality. There will be a total of 1 billion NEX tokens with 30 % allocated to the DAO, 10 % allocated to the airdrop, 10 .8 % allocated to the foundation, and the remaining 49 % allocated to early backers, team members, and investors. Holsky, Ethereum's upcoming testnet, is scheduled to go live on September 15th, coinciding with the one -year anniversary of Ethereum's shift to proof -of -stake. There will be 1 .6 billion Holsky testnet ether available at Genesis. Development teams have the opportunity to secure a portion of the initial allocation by participating in a public request process. And lastly, Ethereum transaction simulator FHIR announced plans to release its own smart wallet. Users can currently sign up for a waitlist to join a beta release of the wallet. FHIR is a read -only browser extension that analyzes contract call data to display a preview of what would happen if a transaction is executed. FHIR did not specify a timeline for the wallet's release. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ether .fm. Thanks for listening, we'll see you tomorrow.
Coronavirus
A highlight from CoW Swap Launches TWAP Orders
"Welcome to your Ethereum news roundup, here's your latest for Thursday, August 17th, 2023. Calswap supports TWAP orders, Connex Network announces its next token airdrop, developers set the genesis supply for the Holsku testnet, and FHIR plans to release a smart wallet. All this and more starts right now. Optimism is providing us with 500 OP tokens to onboard users onto the network. Visit ether .fm forward slash NFT and enter code word SWAP for a chance to met today's podcast as an NFT on OP mainnet and earn a share of 500 OP tokens. The price of Ether is down more than 10 % over the last 24 hours and is currently trading at $1 ,638. The price drop comes amid a broader market downturn as China Evergrande, the second largest property developer in China, filed for Chapter 15 bankruptcy protection in New York. The news led to a sell -off resulting in over $700 million being wiped out from the crypto market in a matter of minutes. DEX aggregator Calswap now supports time -weighted average price orders, allowing users to execute large trades over time. Users can fully customize TWAP orders including the number of parts and the total amount of time to complete an order. TWAP orders provide better protection against slippage, price impact, and market fluctuations. The orders also benefit from Calswap's MEV protection, gasless trading, and order surplus. TWAP orders are currently only available for safe wallets that have upgraded their default fallback handler to support ERC -1271 signatures. Cross -chain bridge protocol Connex Network announced a cross -chain airdrop for its NEX token. The airdrop will go live on September 5th and will allow eligible users to claim their NEX tokens on the chain of their choice, including Arbitrum, Optimism, Polygon, or Gnosis Chain. Users can check eligibility criteria on airdrop .connex .network. Connex will be an ex -ERC20 cross -chain native governance token for the Connex DAO and ecosystem. Future use cases for NEX include staking functionality. There will be a total of 1 billion NEX tokens with 30 % allocated to the DAO, 10 % allocated to the airdrop, 10 .8 % allocated to the foundation, and the remaining 49 % allocated to early backers, team members, and investors. Holsky, Ethereum's upcoming testnet, is scheduled to go live on September 15th, coinciding with the one -year anniversary of Ethereum's shift to proof -of -stake. There will be 1 .6 billion Holsky testnet ether available at Genesis. Development teams have the opportunity to secure a portion of the initial allocation by participating in a public request process. And lastly, Ethereum transaction simulator FHIR announced plans to release its own smart wallet. Users can currently sign up for a waitlist to join a beta release of the wallet. FHIR is a read -only browser extension that analyzes contract call data to display a preview of what would happen if a transaction is executed. FHIR did not specify a timeline for the wallet's release. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ether .fm. Thanks for listening, we'll see you tomorrow.
Bloomberg Radio New York - Recording Feed
Monitor Show 18:00 08-17-2023 18:00
"Bridge funding pending the expected receipt of campaign contributions for these projects. So it's a bridge loan And but still you couldn't you I don't know couldn't you Spend some maybe there's tax reasons to do this Carol. I don't know prep school boy Have a good evening everybody don't go anywhere at daybreak Asia it starts right now you 24 Broadcasting hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg radio This is Bloomberg daybreak Asia for this Friday August 18th in Hong Kong Thursday August 17th in New York and coming up today US equities slide for a third day as a sell -off in global bonds Deepens China tells its state -owned lenders to lift support for the Yuan and Goldman Sachs is planning a hiring spree in response to Concern from banking regulators questions mount over Maui's siren warning system North Korea human rights abuses in front of the UN Security Council Today Los Angeles area law enforcement form a task force to fight retail crime I met Baxter with global news. The shortlist has been revealed for the UEFA award for best player in Europe.
The Café Bitcoin Podcast
A highlight from Bitcoin's True Spot-Price with Steve, UTXO.Live + Bonds over Bitcoin with Greg Foss, Joe Caralsare and the Caf Bitcoin Crew - August 17th, 2023
"Hello, and welcome to the Cafe Bitcoin Podcast brought to you by Swan Bitcoin, the best way to buy and learn about Bitcoin. I'm your host, Alex Danson, and we're excited to announce that we're bringing the Cafe Bitcoin Conversations Twitter Spaces to you on this show, the Cafe Bitcoin Podcast, Monday through Friday every week. Join us as we speak to guests like Michael Saylor, Len Alden, Corey Clifston, Greg Foss, Tomer Strohle, and many others in the Bitcoin space. Also, be sure to hit that subscribe button. Make sure you get notifications when we launch a new episode. You can join us live on Twitter Spaces Monday through Friday, starting at 7 a .m. Pacific and 10 a .m. Eastern every morning to become part of the conversation yourself. Thanks again. We look forward to bringing you the best Bitcoin content daily here on the Cafe Bitcoin Podcast. Good morning. Cafe Bitcoiners, how are we doing today? Peter, Tom Bay, Jacob. Good morning. Good morning. We're cruising. It's Thursday. How are you doing, Alex? I'm good, man. It's a crazy time right now because my son's wedding is this weekend. My house is full of people and we're like in hardcore wedding prep mode right now. And then right after that, man, I'm packing the house and we're moving. So, dang, it's no reason to shorten the show to kind of busy. They can wait. Alex, make sure Jinxy doesn't flush that bad toilet. You know what I mean? Yeah, bro. I'm tracking. It's always the toilet's fault. Oh, man. We are doing a shortened show today because I need to be on the road early. My time to hit the airport, picking up my son's best man. I think he's the best man. Anyway, let's roll. Good morning, Wicked. Good morning, Mickey. Shout out to Joe Carlissari in the audience. All you Cafe Bitcoiners, good morning to you. All right, we got a couple of different things going on today. It's going to be a pretty free flow conversation. I'm multitasking a lot as I'm prepping to be away from office for a little bit during this move. So, you know, talk about whatever mostly. But why don't we start out with there's a really interesting video. OK, before we go to that, Wicked, good morning, what's up? No, never mind. Go to the video. It's a stupid idea that I want to talk about. But you have something in mind. Go to the video. OK, so we have a video. This is CNBC. You know, it's a crack up. Have you watched Joe Kernan's Energy lately? He seems pretty happy and he's asking every freaking guest about Bitcoin now. It's pretty fascinating. So in this video, CNBC, they're talking about bonds or Bitcoin. Pretty fascinating. Let's roll. You know, from such a different generation, should she be? She's got plenty of time. She's young. Should she be thinking about buying 4 % bonds or would you recommend to buy some Bitcoin? I mean, what would you tell Kelly Evans to do? What would I tell Kelly Evans? Diversify. That's what I would say. Diversify. I'm kidding when I say don't buy a two year note, buy Bitcoin. Sort of kidding. I'm sort of kidding. But as you know. Let's be clear. Bitcoin should not be a dominant portion of any investor's portfolio. I guess I can rewind for a second. So I like what you said how Bitcoin is a technology, right? And there are. All right. So it cuts off there. I just found that part really fascinating where the dude's like, OK, OK, look, look, don't get over your skis here. You shouldn't have too much Bitcoin in your portfolio. And the gal's like, hmm. That's called dropping the rope, Alex. And if you know your audience and you know who you're talking to and this is this is like the center of tradfi here. You know, and as you know from talking to many, many people who are coming into the space, you kind of have to talk to them in terms that they understand. And the key is to get them to start thinking about an asset like Bitcoin. Most people, once they once they start going down the rabbit hole, are going to acquire more and more over time. I just think that's just like a normal iteration of most people who come to the space, come to Bitcoin, and they begin to see the bright orange future and the truth of Bitcoin. And they come to it on their own terms. So, you know, I really think that, you know, walking into a space like that and looking at somebody and saying, yeah, you should be 100 percent Bitcoin right now, wicked, probably isn't going to work too well. I totally wasn't paying attention. What did you say? I didn't say anything. Nothing. Nothing at all. Yeah, I think it's going to be a while before, you know, traditional portfolio allocation starts to change. One of the coolest tools I've ever seen is NakamotoPortfolio .com that was created by Alpha Zeta that basically shows you how all this stuff might work if you add Bitcoin to a mix of other assets and you can do some really interesting things with it and model some really interesting scenarios. You can also backtest going back, you know, just rewind the clock and you can say, OK, well, if I had a portfolio that was constructed like this and I had this asset, this asset, this asset, and then I stuck in X amount of Bitcoin on this date, how would that have changed the portfolio's performance? And it's pretty mind blowing the results of that. Mickey Koss, good morning.
Bloomberg Radio New York - Recording Feed
Monitor Show 15:00 08-17-2023 15:00
"Nominee or not. And we all know, as well as we know Donald Trump since 2015, there is no way he's going to support if he doesn't become the nominee. There's no way he's going to go out and campaign on behalf of Ron DeSantis or Tim Scott or Vivek Ramaswamy or whoever it might be. Certainly not Chris Christie. And what does the RNC do then? I guess we're all going to have to find out in that hypothetical scenario. Wendy Benjaminson and Kaylee Lyons for you here on sound on Bloomberg Business Week starts right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is Bloomberg Business Week insight from the reporters and editors who bring you America's most trusted business magazine plus global business finance and tech news as it happens. Bloomberg Business Week with Carol Masser and Tim Stenebeck on Bloomberg Radio. Good afternoon, everybody. It is Thursday, August 17th. Carol Masser along with Tim Stenebeck. What kind of day is it when the most read story on the Bloomberg is poor man's cocaine costing $3 a pill threatens to proliferate. That is our most read story. It's a wacky Thursday. Yeah. Okay. It's the most read story. We're going to give you more details on that in just a little bit. Yeah, we'll do it as a film. Yeah, we'll work it in. We are live from the Bloomberg Interactive Brokers Studio. We're streaming on YouTube and on Bloomberg Originals. Carol, it's Thursday, August 17th, 2023. I call it Friday's Eve. All right. Stocks and bonds are down again. Wait, what? Because I thought they are not supposed to trade in tandem. We do see that 10 year treasury the yield up about eight basis points as much as eight basis points to four point thirty three percent today approaching the highest level since 2007. Remember what Katie Kaminsky, chief research strategist over at Alpha Simplex Group told us earlier in the week? Liz Capo McCormick put a story out on it because she's talking about a 10 year that reaches.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1374: $500,000 Bitcoin Now on Table by THIS Date
"In today's show, we're going to be discussing the Bitcoin bulls risk trading a range loss as the Bitcoin price nears two month lows. Also in today's show, Bitcoin soars in Argentina as Javier Malay wins the presidential primary. Quoting myself, anyone walking around with a scepter preaching the holy gospel of Satoshi while exposing the central banking cartel has my full support. Let's freaking go. We'll also be discussing Coinbase wins the approval to sell Bitcoin and as well as Bitcoin supply crisis would trigger the Bitcoin bull market even if the ETF bids get denied. According to crypto analysts, we'll also be discussing the Bitcoin price will surge past $150 ,000 if the spot ETFs are approved. According to Tom Lee, quoting him here, well, if the spot Bitcoin gets approved, I think demand will be greater than the daily supply of Bitcoin. And so the clearing price is over $150 ,000. It could even be $180 ,000. Also in today's show, $500 ,000 Bitcoin price now on the table as classic indicator suggests a parabolic rally incoming. According to quant analysts, Plan B will also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good crypto fam. This is first and foremost a video show. So if you want the full premium experience with video, visit my rumble channel at crypto news, alerts .net. Again, that's crypto news, alerts .net. Welcome everyone. Just tuning into today's show. This is pod episode number 1374. I'm your host JV and today is August 17th, 2023 and checking out our market watch. As you can see on the screen, the market is correcting. We finally broke back below that $28 support, ,000 unfortunately, but we're right on the cusp of it and we're down about 4 % for the day. We also have ether back down at roughly the $1700 level and checking out coinmarketcap .com. The current crypto market cap sits at 1 .1 trillion with 43 billion in volume in the past 24 hours with the Bitcoin dominance at 49 % even and the ether dominance at 18 .8 % and checking out the top 100 crypto gainers in the past 24 hours. We have rune leading the pack up 3 % trading at $1 .57 followed by cosmos at 1 % trading just under eight bucks followed by our weave only up 0 .8 % trading above $5 and the rest, I mean not much in the green as virtually everything's correcting in the red. As you can see here, the top gainers for the week. What do we got to out of the top 100 actually in the green meaning 98 % losers not looking so great at the current time being and checking out the crypto greed and fear index. We're currently rated a 50 which is neutral. Yesterday was a 52 last week of 53 and last month a 56 in greed. So there you have it and welcome to y 'all just joining the live show. We got a jam packed session for you. So without further ado, let's dive into today's Bitcoin technical analysis and check out the charts and what's popping with the king crypto Bitcoin targeted two month lows today on August 17th as the US inflation returned to spook the crypto markets. And here you're looking at the not so sexy looking Bitcoin one hour candle chart data from coin Telegraph and trading view confirmed the lowest Bitcoin price level since June 21st with Bitcoin wicking to 28 ,300 is the current low. The downside came after the US fed published the minutes of its July meeting to discuss future monetary policy quoting the FOMC here, participants discussed several risk management considerations that can bear on future policy decisions with inflation still well above the committee's longer run goal and the labor market remaining tight. Most participants continue to see significant upside risks to inflation, which could require further tightening on monetary policy. Now, while the fed equally voiced uncertainty over the effects of existing monetary tightening. Now, do you notice they always talk about uncertainty and fear? Why that's so they can manipulate the markets FYI, keep you in fear and keep you away from Bitcoin the best they can. Let me know if they're doing a good job at it. Now, these included the 21 week and 100 days simple moving averages, which currently sit at 28 ,600 and 28 ,570, which you can see here in this chart. Now, Bitcoin also challenged the lower boundary of the multi -month trading range previously highlighted by popular traders, Dan crypto, as well as crypto Tony quoting him here, 28 ,8 has now been lost in Bitcoin. So I'll be looking to short this down now while we remain below 28 ,8. Now, meanwhile, not everyone appeared to be convinced that the next FOMC meeting in September would yield higher rates. According to the CME groups, fed watch tool, the odds of the fed keeping that current rate intact remained that nearly 90 % after the release and quoting Caleb Franzen disinflation plus stronger earnings plus stronger economic data plus nearing the end of the rate hike cycles has been the perfect recipe for market returns and the development of an uptrend. Now, while these conditions could change in the future, I don't see any evidence that it has changed yet. So there you have it. Let me know if you're currently bullish or bearish on the King crypto. Do you think we're likely to continue dropping even lower? Let me know your honest thoughts in the comments right down below. Now let's discuss continued Latin American adoption in Argentina as the pro Bitcoin president is winning, at least in the primary. This is actually quite enticing and interesting. So let's break this down and shout out to everyone in Argentina. The price of Bitcoin jumped to a fresh high in Argentina since the news of the Bitcoin friendly presidential candidate Javier Malay won the primary election on August 13th with one Bitcoin reaching a value of 10 .2 million Argentine pesos on August 14th, according to data from CoinGecko. And while the global crypto markets are experiencing a notable slump, some parts of the world are still recording new all -time highs for BTC. In Argentina, Bitcoin has seen a sharp climb this week with Bitcoin rallying 21 % from 8 .4 million ARS to 10 .2 million in less than one hour on Monday. Look at this chart. Let's go. At the same time, Bitcoin has been steadily gaining against ARS since late 2022. And since hitting a new record high, Bitcoin price versus ARS has dropped slightly. And the most recent Bitcoin rally in Argentina has been attributed to the presidential primary win by pro -Bitcoin presidential candidate Javier Malay. After winning the primary with more than 30 % of the votes, Malay is now the front runner in Argentina's general election in October. Could you imagine if he does become the president and adopt Bitcoin as a legal tender as their population is much larger than El Salvador? Now, as previously reported, Malay wants to abolish the central bank and adopt the US dollar as Argentine's currency. The presidential candidate also believes that Bitcoin is a reaction against the central bank scammers, while fiat currency allows the politicians to scam Argentines with inflation per each. And with Bitcoin, we've seen record highs, as you know, in Argentina recently. With Bitcoin has been in the decline, however, in the global markets since August 14th, Bitcoin lost about 4 % of its value versus the dollar, dropping below that key psychological level of 29 ,000 just yesterday on August 16th. Argentina is not the only country that has seen Bitcoin price at its highest historic levels amid the massive inflation of recent. Bitcoin has also been trading near all -time high levels in countries like Turkey, which reportedly saw its inflation rate rising to nearly 50 % in July. And in July, Bitcoin climbed to the highest level versus the Turkish lira, reaching a value of 819 ,000 Turkish lira per BTC, according to data from CoinGecko. And quoting Malay, or actually is quoting myself regarding Malay, anyone walking around with a scepter, preaching the holy gospel of Satoshi while exposing the central banking cartel has my full support. So let's freaking go. How many of you would love to see him be elected of president in Argentina? And do you think he will abolish the central banking cartel if he wins? Let me know your honest thoughts in the comments right down below. Now we all know we've been waiting upon a spot Bitcoin ETF in the United States for over a decade, but guess what? The regulators are approving futures ETFs. They just gave Coinbase the green light to do both Bitcoin and ETH futures, believe it or not. Let's break this down and welcome y 'all just joining us. Make sure to say hello in the live chat. American crypto exchange Coinbase has acquired approval from the government to offer Bitcoin and Ether futures in the US and a new blog post. Coinbase says it's been given the green light by the National Futures Association to manage a futures commission merchant and offer eligible US traders, both Bitcoin and Ethereum futures products. Now, FCMs are federally regulated entities that offer and accept futures contracts related to securities and commodities. Putting them here in September of 2021, we filed an application with the NFA to register an FCM. Our team has worked with regulators since then to ensure we'll comply with all the necessary regulations that our FCM's business model meets with the CFTCs, customer requirements. protection And today we're pleased to announce the approval has been secured, which will allow eligible US customers to access regulated derivatives products through Coinbase financial markets and alongside our spot market for a seamless experience subject to the oversight of the CFTC and NFA. Now, just keep in mind that derivatives are a financial weapon of mass destruction. They're not going to help you, fam. It's just only going to get you wrecked. So is it surprising that the SEC approved this and continues to not allow spot ETFs? You let me know your opinion. According to the blog post, Coinbase will be the first crypto firm to offer both traditional spot market trading as well as federally regulated crypto futures. Quitting them again here, the global crypto derivatives market represents 75 % of crypto trading volume worldwide and is a critical trader access point. The ability to trade using margin gives customers leverage so you can get wrecked and access to the crypto market with less upfront investment than traditional spot trading and being able to express long and short positions. Investors also use derivatives to manage risks on their underlying crypto assets. So there you have it. I am curious by a show of hands, how many of you have ever dabbled with futures ever before or have traded with leverage? Let me know in the comments. And how many of you actually have real plans to actually take advantage of Coinbase futures for either Bitcoin or Ethereum? Let me know. Or if you're going to be staying away from it, I'd love to know your thoughts and your feedback. And with that being shared, let's now discuss a Bitcoin supply shock, which could be incoming. And then we'll be discussing Tom Lee's prediction of $150 ,000 to $180 ,000 Bitcoin price once the ETF gets approved in the US, followed by the latest from quant analyst Plan B, creator of the Bitcoin stock to flow model, predicting a $500 ,000 Bitcoin price incoming along with the timeframe and timeline. Yeah, so let's break down the supply shock first. Popular crypto analyst believes Bitcoin will witness another bull run, even if the regulators all reject the ETFs. We're talking about Josh Rager. According to the crypto strategist, the halving, which slashes Bitcoin miners rewards in half, which is scheduled to be less than nine months out, will create a supply issue that sends Bitcoin price into a bull territory next year without a spot based ETF acting as a catalyst. So virtually saying we don't need the ETF, we're going to go bull either way. I would say due to the supply issue and the block reward cut in half that Bitcoin halving is definitely will have an impact on the price, but the impact on price is delayed usually by a couple of months. If you look at the past historical Bitcoin halvings and where the price started uptrend post event, the Bitcoin ETF is a significant factor in overall Bitcoin price and will have a major influence in upcoming year. Still, even if ETF was denied, though I don't see this happening this time, with the Bitcoin supply crisis at hand, it'll very likely Bitcoin price will continue to uptrend throughout 2024 after an ETF denial dump. And Josh highlights that the post halving uptrend has historical precedence, but notes that a sample size is low, quitting him again alongside this chart. One can't deny the fundamentals and impact that a decrease in block reward has an overall price over the following years. Even if the ETF denial happens, Bitcoin will still run up in 2024. He continues on to share my prediction for Bitcoin price over the next year. Bitcoin ETF in September also gets postponed until March. Price pulls back and continues to chop range between 20 and 30 ,000 over the next six months. ETF approved by March. Bitcoin price pumps into the halving event around April, maybe up until 40 ,000. And after the halving, price stalls and pulls back a bit for the week following. An up -only Bitcoin price action starts sometime around June -July of 2024 and runs hard into early -mid 2025. So there you have it. Let me know if you agree or disagree with the analyst Josh Rager that we're likely to start pumping and run up as we prepare for the next halving event. And now let's discuss the latest from Fundstrat's Tom Lee, who was recently interviewed on TV and made a very bold prediction that with the approval of an ETF in the United States, Bitcoin price is likely to rocket to between 150 and $180 ,000. Let me start by actually, I transcribed what he shared in this interview in case you missed it. Here's what he had to say when asked, I always like hearing your price targets because you are always so fearless. Where are you on Bitcoin by the end of next year, let's say? And Tom Lee responded, well, if the spot Bitcoin gets approved, I think the demand will be greater than the daily supply of Bitcoin. And so the clearing price is over $150 ,000. It could even be $180 ,000 per BTC. And they asked, that's only if the spot ETF gets approved. And Thomas Lee responded, yeah, a spot US because a spot Bitcoin ETF is approved already outside the US. And when asked, but if not approved, then are we just lingering at around 29 ,000? In which he responded, there is still upside cast because of the halving next year. So you'll have a drop in supply again. So the clearing price has to increase, but it won't be six figures. So there you have it. Let me know if you agree or disagree with Tom Lee. I definitely agree that because of the halving, regardless of the ETF, the price is destined to go up. But if we do get that ETF, it's just going to go up that much faster. Now in June, Wall Street, Heavyweights, Fidelity, Invesco, Wisdom Tree and Valkyrie followed BlackRock, the world's largest asset manager and applying for Bitcoin Spot ETF with the SEC. However, some of these firms may not learn their fate until sometime in 2024, as the SEC has up to 240 more days to make a final decision on an application after commencing the review process. And naturally, they're just going to continue to push it back as long as they can. The outcome for Grayscale's appeal to convert its GBTC Trust product into a spot Bitcoin ETF is however expected to come sooner rather than later. We have Bloomberg ETF analyst, Eric Balchunes and James Safart, who recently estimated there's a 65 % chance of these Bitcoin Spot ETFs being approved by the regulator, a significant increase from before BlackRock's application. Others have tipped that a 100 ,000 Bitcoin price can come much sooner than expected with Blockstream CEO Adam Back recently wagering that Bitcoin will notch the new price milestone the month before the halving. But what are your thoughts? Let me know in the comments right down below. And now let's discuss our breaking story of the day. And that's Plan B, the Quant Analyst. He just went live on his YouTube channel yesterday and shared some very bullish predictions regarding the stock, the flow, umbrella to strength index and these indicators, which are lining up perfectly right now for a bullish rally to take us to a new stratosphere of all time highs at around the time of the halving of next year. So let's break this down and welcome to everyone just joining us and tuning in. I appreciate everyone's continuous support. So here we go. And shout out to Plan B, the widely followed crypto analyst as a historical, reliable suggests indicator Bitcoin's price may surpass six figures in about one year and a new strategy session. The Quant Analyst tells his YouTube subs that Bitcoin's RSI, which is the relative strength index, appears to be repeating a pattern that previously signaled parabolic rallies. That's right. The RSI is an indicator that tracks the momentum of an asset. Here's what Plan B had to share in this recent interview video. It would mean that the RSI is going to rise from here towards the halving. There will be volatility, of course. It may not be in a straight line, then a bull market in 2024 with an RSI of around 90 or a little above, little below, doesn't matter. And then a bear market after that in 2025, 2026. Plan B uses a stock to flow model to predict the Bitcoin price and alignment with the forecasted RSI pattern. Now the stock, the flow traditionally used to track the performance of commodities such as precious metals and compares an asset's price to its available supply. So virtually it's supply and demand. The model indicates the Bitcoin can hit $60 ,000 heading into the expected April 2024 halving event. Send it, let's go. That's when the miner's rewards, as you know, are cut in half, followed by a massive move to between $300 ,000 and $500 ,000 per coin, quoting him here. And in Bitcoin price, it will look like this. So we are here at the moment at this $30 ,000 level, stuck for months there. And in this scenario that I just showed in RSI, this is the price that belongs to that. So it would rise with volatility towards the halving around the stock to flow value of $60 ,000 per coin. And then the bull market really goes on the second stage of the bull market with FOMO and greed. And then in this scenario, it's a rather conservative bull market that bottoms out or flattens out just below the stock to flow value of $500 ,000. So this averages at ,000, $300 which is still pretty okay. I would guess it is 10X from here. So there you have it. He's virtually saying on a conservative perspective, expect the Bitcoin price to rise 10X from the current price to roughly 300 ,000. And on a bullish perspective, we can see the Bitcoin price climb as high as $500 ,000 per coin post 2024 halving, which again is around the corner, scheduled to be sometime in April of 2024. And to watch this video he did, Plan B on RSI, Bitcoin of $300 ,000, which he shared on YouTube, check the show notes below the video in the description. And what are your thoughts? Do you feel Plan B will be correct and we're likely to hit a multiple six figure price post 2024 halving and even a climbing as high as 60 ,000 before the halving? Let me know your honest thoughts in the comments right down below. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Bitcoin Drops to Lowest Level Since June
"This episode of Markets Daily is sponsored by Kraken. It's Thursday, August 17th, 2023, and this is Markets Daily from Coindesk. Hi, I'm Michelle Musso here with your crypto markets roundup. On today's show we're talking Bitcoin, PayPal and more. And just a reminder, Coindesk is a news source and does not provide investment advice. Bitcoin has broken out from its very tight trading range, but not in ways the bulls would have liked to see. The leading cryptocurrency slipped to its weakest level since June 21st. The decline extended a slide that began earlier this week in mirrored risk aversion on Wall Street. The formerly red -hot stock market averages have been slumping in August due to interest rate fears, banking sector concerns and overall worry. The downside volatility in Bitcoin comes days after the U .S. Commodity and Futures Trading Commission's report, which showed leveraged funds increased bearish bets on CME, cash -settled Bitcoin futures, in the week ending August 8th. Bitcoin and Ether future traders took on some of the largest losses in over a month. Prices moved under support levels in the past two days, breaking down from a period of stagnancy. Bitcoin slumped to just under $28 ,500 late on Wednesday, marking one of the largest two -day price drops since mid -June. Bitcoin weakness caused other cryptocurrencies such as Ether, XRP and Solana to follow suit, falling as much as 5%. Liquidations on futures tracking major tokens crossed the $160 million mark in the past 24 hours, pushing to over $320 million in the losses since the start of this week. Such losses come amid one of the lowest volatility periods for Bitcoin. CoinGlass data shows long trades or bets on higher prices accounted for 90 % of the total liquidations. Liquidation occurs when an exchange forcefully closes a trader's leveraged position due to a partial or total loss of the trader's initial margin. This happens when a trader is unable to meet the margin requirements for a leveraged position or fails to have sufficient funds to keep the trade open. Large liquidations can signal the local top or bottom of a price move, which may allow traders to position themselves accordingly. Bitcoin's slow decline from the July peak near $32 ,000 has traders focusing on a trend line to indicate the cryptocurrency's directions. The bullish trend line, in consideration, connects the early January low and the swing lows registered in March and June. The head of research and strategy at crypto services provider Matrixport indicated potential invalidation of the Bitcoin trend line could yield deeper losses. The head of research said in a note to clients on Thursday, quote, Prices might fall back and retest the $25 ,000 support level associated with the BlackRock Bitcoin ETF filing if the rising trend line is violated. Continuing, quote, Investors are well advised to keep their crypto exposure to a minimum and use options, unquote.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Bitcoin Drops to Lowest Level Since June
"This episode of Markets Daily is sponsored by Kraken. It's Thursday, August 17th, 2023, and this is Markets Daily from Coindesk. Hi, I'm Michelle Musso here with your crypto markets roundup. On today's show we're talking Bitcoin, PayPal and more. And just a reminder, Coindesk is a news source and does not provide investment advice. Bitcoin has broken out from its very tight trading range, but not in ways the bulls would have liked to see. The leading cryptocurrency slipped to its weakest level since June 21st. The decline extended a slide that began earlier this week in mirrored risk aversion on Wall Street. The formerly red -hot stock market averages have been slumping in August due to interest rate fears, banking sector concerns and overall worry. The downside volatility in Bitcoin comes days after the U .S. Commodity and Futures Trading Commission's report, which showed leveraged funds increased bearish bets on CME, cash -settled Bitcoin futures, in the week ending August 8th. Bitcoin and Ether future traders took on some of the largest losses in over a month. Prices moved under support levels in the past two days, breaking down from a period of stagnancy. Bitcoin slumped to just under $28 ,500 late on Wednesday, marking one of the largest two -day price drops since mid -June. Bitcoin weakness caused other cryptocurrencies such as Ether, XRP and Solana to follow suit, falling as much as 5%. Liquidations on futures tracking major tokens crossed the $160 million mark in the past 24 hours, pushing to over $320 million in the losses since the start of this week. Such losses come amid one of the lowest volatility periods for Bitcoin. CoinGlass data shows long trades or bets on higher prices accounted for 90 % of the total liquidations. Liquidation occurs when an exchange forcefully closes a trader's leveraged position due to a partial or total loss of the trader's initial margin. This happens when a trader is unable to meet the margin requirements for a leveraged position or fails to have sufficient funds to keep the trade open. Large liquidations can signal the local top or bottom of a price move, which may allow traders to position themselves accordingly. Bitcoin's slow decline from the July peak near $32 ,000 has traders focusing on a trend line to indicate the cryptocurrency's directions. The bullish trend line, in consideration, connects the early January low and the swing lows registered in March and June. The head of research and strategy at crypto services provider Matrixport indicated potential invalidation of the Bitcoin trend line could yield deeper losses. The head of research said in a note to clients on Thursday, quote, Prices might fall back and retest the $25 ,000 support level associated with the BlackRock Bitcoin ETF filing if the rising trend line is violated. Continuing, quote, Investors are well advised to keep their crypto exposure to a minimum and use options, unquote.
The Hair Radio Show with Kerry Hines
Camille Friend Reflects on Her OSCAR Nomination for 'Wakanda Forever'
"Let's just jump on in. Let's talk about Wakanda Forever. Let's talk about Black Panther a little bit. You have been nominated for an Academy Award. Now, let me just say that again. Let me say that again. An Academy Award. Okay, that is ginormous for your incredible work on Wakanda Forever. So we've got to start there. Tell us about that. How does that feel? You know, it feels surreal. It almost feels dreamlike. And I just want to say, like, what people don't understand is the journey. So I just want to talk a little bit about the journey that got me here. So this is my third time that I was really close to getting nominated for an Oscar. So, you know, it was on Guardians of the Galaxy 2. We got to the Bake Off, and I'll explain what the Bake Off is. On Black Panther 1, we got to the Bake Off, and we didn't make it. So, like, for me, this is the third time is the charm. But I look at it this way. I feel like God had to work on me. He has to prepare me for this moment. So that's why we are here now. I love that. You know, I totally understand what you mean. Because it really happens, you know, not on our time, as they say. And that's quite true, literally. No, it happens in God's time. And I can tell you, it's something that I think is a combination of a long, you know, 25 -year career to get here and be in this place. And, you know, I just feel happy that it has happened. And, you know, that it has happened for a movie like Wakanda forever. Because if you really think about it, this is a movie that could have been over, in the sense of, you know, we lost our star, you know, Chadwick Bowman, in the past. So this could have been a movie that Marvel scrapped. We're moving on. We're not going to do it. We're not going to touch it. So for us to be here in this movie, in this climate, I feel so blessed. I feel so humbled. I feel so grateful to have had the opportunity. And it happened on this movie.
Bloomberg Radio New York - Recording Feed
Monitor Show 05:00 08-17-2023 05:00
"Can't catch us live. Your favorite Bloomberg 11 -3 -0 shows, including Bloomberg Surveillance, Bloomberg Daybreak, Masters in Business, and Bloomberg Businessweek are also available as podcasts. Listen today on Apple, Spotify, the Bloomberg Business app, and anywhere else you get your podcasts. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business app. This is Bloomberg Radio. From the Bloomberg Interactive Brokers Studios, this is Bloomberg Daybreak for Thursday, August 17th. Coming up today, we have a proposed date for Donald Trump's trial in Georgia. Troubling news for consumers as American savings accounts dwindle. The Fed's back in focus on Wall Street with fears of another rate hike. And a troubled shadow bank in China looks to unload assets. The death toll continues to climb from the Maui wildfires, plus an aid to embattled New York representative George Santos also faces charges. I'm Michael Barr. More ahead. I'm John Stash, Darrin Sports, and now under 500 Yankees shut out again, swept in Atlanta, the Mets beat the Pirates. That's all straight ahead on Bloomberg Daybreak, on Bloomberg 1130 New York, Bloomberg 99 .1 Washington, D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM119, and around the world on BloombergRadio .com and via the Bloomberg Business app. Good morning, I'm Amy Morris. And I'm Karen futures up a tenth of a percent or five.
Crypto Cafe With Randi Zuckerberg
"august. 17th" Discussed on Crypto Cafe With Randi Zuckerberg
"And so as someone who you spend a lot of time on this platform, where do you see all this going? Yeah, I mean, I think it's, you know, it's, it's interesting, because I think it's a bit of a double edged sword for sure. Like I think on one hand, the creators that are showing up every single day, and you know, frankly, I use I definitely used to write a lot more and I guess, you know, what got busy. And so I will put my hand up and say, I have not been as consistent in terms of, you know, writing thought leadership pieces on X, as I was, say, called a year ago. But you know, like, there are a lot of content creators who are genuinely showing up every single day, put together these greatly written threads, where there's a lot of research that goes into it, you have to format it and write it in a subtle way to appeal to the audience that's there that tends to have a shorter attention span. So, you know, I'm really happy that, you know, that they are getting compensated for all these efforts. I think at the same time, you now have a lot of people who try and like write hot spicy takes or, you know, express controversial opinions, because they know that that tends to generate more clicks, generate more views, more impressions, and you know, kind of really gaming the system and doing a lot of what we call engagement farming techniques in order to make themselves eligible for the payout. So it'll be interesting to see if we can find a healthy medium or healthy balance between those two forces. Totally. Yeah. I want to share a quick story. I was at a wedding this weekend and a friend of mine is going to Japan and she was telling me how she's getting all of her information from creators on TikTok. And actually, this is part of a much larger trend where we're seeing people kind of having less trust and centralized authorities, and they're going to creators to get their interest when it comes to, I saw an article in the New York Times, even today, about how people are getting their movie reviews from people on TikTok because they don't trust what they call Hollywood labeled critics who are like in the pocket of Hollywood movie studios. So I just think that's fascinating. What are some of your thoughts on that? Yeah, I mean, I've heard of people doing that for a long time, too, as well, like especially travel recommendations, restaurant recommendations, and which is why a lot of these social media platforms are improving kind of their search capabilities. So even on Instagram, they prioritize, you know, people that write captions that contain some of these SEO, like popular search terms, because they are realizing that at least the younger generation are turning to their peers to get their favorite movies, favorite books, favorite restaurants and the like. So it's definitely an interesting trend. We would love to see how this continues to pan out over the next few years. Totally. So I'm going to jump to the next story, which really goes to the heart of something that is both important to myself. I know to Randy, which is Disney's creating this A.I. task force as it looks to expand, make their work more efficient across their their movie studios, their TV studios. But what's interesting about this in terms of this larger trend is this lands itself right in the middle of the writer and actor strike. And so the thing that's going on here is you have this big corporation, Disney, that's wanting to in some ways save money by advancing its technology across its parks. Maybe they can use generate actors that can generate voices. But then you have these individual artists who are saying, wait, wait, wait, wait, wait. So you're going to scan my likeness and then be able to use it infinitely for amount of time and I won't get paid for that. And so there's this big battle right now of discovering, putting down flags to say like, this is not right and we need to do something about this. And so I think it puts us at this really big tension of technology as collaborator. And how we are going to interact with AI in the future. You know, so for the listener, one of the things that AI is being used for is like when you watch like The Mandalorian, if you watch that show, they were able to make Mark Hamill look like his younger self. That's all AI technology. But what they're going to be doing in the future is probably scanning background actors to become AI generated background actors. So, Debbie, as you kind of think about this, what are your thoughts? Oh, gosh, that scanning act is to become AI background actors. Have you seen that Black Mirror episode called Justice? So I guess it feels like sometimes I have no idea if art imitates life or life imitates art, but it's surely fascinating and one to watch. I mean, I think for anything around AI, there's always going to be two camps. There's going to be the one camp that just feels completely intimidated and worried about what changes this might make and us not necessarily grasping with what influence this incredible technology has. And on the other side of it, obviously, the fact that it could make things so much more efficient, it could help every single person kind of level up their creative skills is an incredibly powerful collaborator, as we have chatted about many times before. So, you know, I do think that at any corporate or any kind of large organization, they probably need to have a view in terms of what their philosophy is when it comes to adopting AI, like where can it really add value? Where could it, on the other hand, detract value? And so that's definitely something that I'm paying attention to with large organizations, if they are taking up a leadership role, right? Like not just within their companies, but on a bigger industry level and on Disney specifically, I actually have a friend who works at Disney and I feel bad because the company has seen so many layoffs as well. And so, you know, it's, I mean, it may or may not be directly correlated, but I think it definitely shows that people's jobs are at risk. So as much as we are excited about the future of AI, that's also likely going to be a really painful transition phase as people try and figure out what their new role in this new environment with this technology is going to look like. Yeah, the one thing I would like to add on to that is we are in a moment where the technology is self-identified. You can tell it's what we will call the uncanny valley. You can tell something is AI generated usually, even in the voice generation. But as the technology gets faster and more efficient, that will be harder to tell. Now, what I'm noticing as a trend is there's a movement toward authenticity. So I think more audience members are going to want to know that that material was actually generated by that actor. You see this in art as well. There's this movement towards the analog, like creating something with your hands and people want to go see experiences. They want to like have a live event. They want to feel something that's real. So I love that Disney is putting itself in the middle of this. I'm always going to be like you. I'm going to kind of point towards the latter, like, you know, learn how you can collaborate with this amazing collaborator called artificial intelligence. But it's complicated. It's totally complicated. All right. Let's end with a wrap up game. Favorite art drop of the week. Go, Debbie. All right. Well, that is this incredible photograph by Rachel Wood, which is paired with poetry from Rachel Wilkins is called Hope for Maui. And, you know, all of the proceeds on that drop goes to, you know, rescue efforts, you know, rescue efforts in Maui after the terrible wildfires. So that is a beautiful piece of work, has a great mission. And, you know, so really excited about that particular drop. I love that. I love that how artists always respond in the moment to what's happening in culture and to crises. So that's awesome for me. I got to go with happiness is like a butterfly. This is an artist I've been working with in Kenya, Sherry, Margaret Nijiji. One of the things I love about innovation and technology is the democratization to access to these types of tools and to allow artists to she's from in eastern Kenya. So the fact that she can sell her work online and make an addition to her living is just awesome.All right. One more artist builder or creator of the week that you have your eye on. It was so many, but one of my favorite artists recently is this artist called Jam Jam. He creates these adorable pixel art and he also animates them. And they're just so they're just so cute. They're kind of remind me of, you know, back in the day when we were playing eight bit games and online game voice. And it's kind of got a little bit of that retro vibe, but, you know, kind of also translate it into what we're looking for today. So I'm just really excited about his work and I'm keeping an eye out for what he's about to release next. Oh, I love that 90s glitch is coming back for me. I got to say, Jack Butcher, I know we interviewed Jack Butcher in the Crypto Cafe. Randy did an amazing interview with him. Please check that out. His words are swirling around in my brain as I've been writing a lot about him this week, in particular around the Internet as a canvas. I just can't stop thinking about that idea. So, Debbie, how do you think we did? I hope we did OK. I hope we did our mother hugger proud. I hope so. Friends, listeners, that's a wrap on what you need to know this week. Thank you so much for joining us in the Crypto Cafe today. If you're an artist and you want to have your own featured profile on Hug, you can apply at the hug dot X, Y, Z. And if you want to get free resources and news on trending creator topics delivered straight to your inbox for free, please subscribe to Creator Royalties, also in the show notes. And make sure to tune in next week. Randy Zuckerberg will be back with us for a brand new episode of What You Need to Know in the Crypto Cafe. Pray for Debbie and I that we will still have our jobs. Thanks, friends. Bye.
Crypto Cafe With Randi Zuckerberg
"august. 17th" Discussed on Crypto Cafe With Randi Zuckerberg
"Hello, and welcome to the Crypto Cafe, where we embrace newcomers and OGs to art, innovation, and AI. Our host, Randy Zuckerberg, is traveling, so Debbie and I are stepping in to make sure we keep you up to date on what you need to know this week in the world of creative innovation. Randy, or as we like to call her, the mother hugger, will be back with us next week. For anyone tuning in for the first time, my name is Michael Littig, and I'm the Director of Creator Programming at HUG, and I'm joined in the Crypto Cafe by my colleague Debbie Soon, Chief Growth Officer of HUG. At HUG, our mission is to democratize access to art through technology and education, so if you're interested in checking out free resources to help you become the best creative entrepreneur possible, check out thehug.xyz by clicking the link in the show notes. Each week on Crypto Cafe, we provide what you need to know this week in all things with AI, blockchain, anything changing the landscape, and all of it in 10 minutes. On today's episode, we're going to discuss two stories. X, formerly known as Twitter, has begun an ad revenue sharing program, and second story, Walt Disney has created a task force to study artificial intelligence and how it can be applied across the entertainment industry. Lots of controversy there, but before we jump in, Debbie, on a scale of 1 to 10, how did I do on that intro? Oh, you absolutely smash it. Well, I don't think anyone can ever replace Randy, but I thought that was as good as it gets, so you should feel extremely proud. Okay, fair, fair. I like the verb smashing. I always say smashing. That was a smashing intro. But I want to jump into this first article because you are a queen of X, Twitter, what are we calling it these days, and ad revenue sharing program. Why do we need to know about this this week? Oh, gosh, well, you know, I think that's been one of the things that people on web to social media platforms have always felt, you know, something that they weren't that happy about, right? Like, they're putting out all this great content and, you know, whether it's Twitter, what is Instagram, what is YouTube, they're putting all this great content, they have so many followers, people are enjoying it, and they then just struggle to really make a living out of that, even though they're providing so much value to these platforms. So I think we all know that on YouTube, they have a great advertising program. So if you're a creator, you're putting out long videos, and ads are being run in the middle of your video, you get paid for it. So you know, this is really quite similar for that what Twitter is trying to roll out based on the number of impressions that you're getting, you then start getting a bit of payout. And you know, I think right now creators are able to withdraw as low as $10, you know, which is, which is great, I think it's a start. And Elon has definitely committed to paying out, you know, millions over, you know, over the next few months. So it'll be a really interesting thing to see how this pans out. You know, I think a lot of content creators have been primarily making money off like images, videos. And so there are a lot of great writers on X or Twitter, or whichever one we are calling it these days. And so this is another opportunity for hopefully writers to be able to make good, you know, some additional income for their efforts.
Crypto Cafe With Randi Zuckerberg
A highlight from What You Need To Know This Week (August 17th)
"Hello, and welcome to the Crypto Cafe, where we embrace newcomers and OGs to art, innovation, and AI. Our host, Randy Zuckerberg, is traveling, so Debbie and I are stepping in to make sure we keep you up to date on what you need to know this week in the world of creative innovation. Randy, or as we like to call her, the mother hugger, will be back with us next week. For anyone tuning in for the first time, my name is Michael Littig, and I'm the Director of Creator Programming at HUG, and I'm joined in the Crypto Cafe by my colleague Debbie Soon, Chief Growth Officer of HUG. At HUG, our mission is to democratize access to art through technology and education, so if you're interested in checking out free resources to help you become the best creative entrepreneur possible, check out thehug .xyz by clicking the link in the show notes. Each week on Crypto Cafe, we provide what you need to know this week in all things with AI, blockchain, anything changing the landscape, and all of it in 10 minutes. On today's episode, we're going to discuss two stories. X, formerly known as Twitter, has begun an ad revenue sharing program, and second story, Walt Disney has created a task force to study artificial intelligence and how it can be applied across the entertainment industry. Lots of controversy there, but before we jump in, Debbie, on a scale of 1 to 10, how did I do on that intro? Oh, you absolutely smash it. Well, I don't think anyone can ever replace Randy, but I thought that was as good as it gets, so you should feel extremely proud. Okay, fair, fair. I like the verb smashing. I always say smashing. That was a smashing intro. But I want to jump into this first article because you are a queen of X, Twitter, what are we calling it these days, and ad revenue sharing program. Why do we need to know about this this week? Oh, gosh, well, you know, I think that's been one of the things that people on web to social media platforms have always felt, you know, something that they weren't that happy about, right? Like, they're putting out all this great content and, you know, whether it's Twitter, what is Instagram, what is YouTube, they're putting all this great content, they have so many followers, people are enjoying it, and they then just struggle to really make a living out of that, even though they're providing so much value to these platforms. So I think we all know that on YouTube, they have a great advertising program. So if you're a creator, you're putting out long videos, and ads are being run in the middle of your video, you get paid for it. So you know, this is really quite similar for that what Twitter is trying to roll out based on the number of impressions that you're getting, you then start getting a bit of payout. And you know, I think right now creators are able to withdraw as low as $10, you know, which is, which is great, I think it's a start. And Elon has definitely committed to paying out, you know, millions over, you know, over the next few months. So it'll be a really interesting thing to see how this pans out. You know, I think a lot of content creators have been primarily making money off like images, videos. And so there are a lot of great writers on X or Twitter, or whichever one we are calling it these days. And so this is another opportunity for hopefully writers to be able to make good, you know, some additional income for their efforts.
Bloomberg Radio New York - Recording Feed
Monitor Show 19:00 08-16-2023 19:00
"And we really don't think that China's liabilities are going to be extended. I wonder what happened in the meantime, because certainly the head of sovereign ratings did say that if China extends its balance sheet, we might think again. And that's a direct quote because of the debt -to -GDP ratio. Yeah, we used the word May. May covers a lot, but they still felt the need to come back and say that they don't see that happening. But it does happen. I guess the coast is all clear then. Yeah. The next hour of Bloomberg Daybreak Asia begins right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Thursday, August 17th, in Hong Kong. Wednesday, August 16th, in New York. And coming up today. The Fed may hike rates again. Minutes from the last meeting show officials see significant upside risk to inflation. Officials in China have asked some investment funds to avoid net equity sales as the nation's market crisis deepens. And Tencent sales disappoint in a warning for China's tech sector. Biden will go to Maui on Monday. Over 100 bodies recovered to date. China defense chief visits Russia and Belarus. Congressional leaders strike a deal to hopefully avert a government shutdown. I'm Ed Baxter with Global News. England beats Australia to move on to the Women's World Cup final. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports.
WTOP
"august. 17th" Discussed on WTOP
"Degrees currently coming in and DC day 82 Quantico 75 in Leesburg. Alright Veronica thanks so much the forecast tonight brought to you by Mervis Diamond Mervis means diamonds for the best quality and value nobody beats Mervis diamonds Diamond .com. Coming up on WTOP if you plan to keep on streaming TV in the future get to pay quite a bit more. It's $8 .52. Did you know that motor vehicle crashes are the number one cause of death among children? Three out of four child safety seats are not installed correctly. When installed and used properly a child safety seat can reduce the risk of death by as much as 71%. Choose a safety restraint system based on your child's age, weight and height. Test it out to make sure that it's an appropriate fit for both your child and vehicle. your Keep children safe by making sure they are properly restrained. Fitzgerald Auto Malls holds free child safety seat events on the third Thursday of every month. Get your child's seat installed and inspected by a nationally certified technician on Thursday August 17th from 10 a .m. to 12 30 p .m. at Fitzgerald Hyundai Subaru on Russell Avenue in Gaithersburg. That's Thursday August 17th from 10 a .m. to 12 30 p .m. at Fitzgerald Hyundai Subaru in Gaithersburg. A properly installed child safety seat can mean the difference between life and death for a child. For more please visit fitsmall .com Do you know a student athlete who deserves recognition? Nominate your favorite high school athlete for their chance to be WTOP's next player of the week. Each week from now through November 30th WTOP will choose one local athlete in the DMV to be featured on air and online for their contributions to their community and team. to their Visit WTOP .com search player to nominate today. WTOP's player of program the week is sponsored by Main Street Bank. Bank where you breathe. WTOP watching the areas you drive most. Traffic dates every 10 minutes on the 8th. WTOP news everything you need every time you listen. It's 853 Good
WTOP
"august. 17th" Discussed on WTOP
"A couple minutes. Chad thank you very much. It has now been more than two weeks since an elderly man was killed and hit and run near the National Mall. Two weeks later the suspect was face -to -face with judge. a 33 year old Benjamin Robertson is being held without bond. He's being charged with second degree murder for killing 75 year old Bing Wong on July 12th. The victim's teen granddaughter was also struck. Police say the pursuit began after the driver sped away from officers during an attempted traffic stop. Following the hit and run the Secret Service issued an alert to other law enforcement agencies to search for the driver. The damaged car was found on Benning Road in Southeast DC. Multiple witnesses also told investigators Robertson is the only person who drives that vehicle. He's scheduled for a preliminary hearing. August 17th. Shine Karen WTOP news. The fight was over $20. It happened when a man was stabbed to death. Now that man will spend decades behind bars. Jamie Lee 46 of no fixed address was at a Rockville apartment on May 2nd 2020. He began to argue with 36 year old Cornelius Lyon over $20. He then stabbed Lyon in the face, chest, arm and neck. Both men ran from the scene. Lyon was found dead a few blocks away. Lee was arrested a short time later. He was sentenced Friday to 40 years in prison but will serve only 28 years and be on probation for five after that. Luke Luker WTOP It's 506 DC's 911 call center defending itself. Follows concerns about a car plunged that into the Anacostia killing three people last April. The Office of Unified Communications says its team properly coded the call April 20 even though first responders didn't find the sunken car until more than an hour after first the calls to 911. Emergency crews were initially sent to the 11th Street Bridge, not the Frederick Douglass Bridge near where the speeding car plunged into the water drowning three men. The DQC says it used location determining technology and consultation with police in order to find the location which was a mile and a half away from the car in the water. Dick Iuliano, WTOP News. Lots of you getting the calls, debt collectors saying you owe them money. It could be a scam. Not everyone who calls and says you owe a debt is a real debt collector, much less collecting a legitimate debt. Sometimes a collector really only cares about collecting the money, but you really have to understand the next which this debt was incurred. Craig Antico was a debt collector for 30 years and can spot debt. A fake one. If they're asking for your social security number, if they're asking for your credit card number, that's just not the way it works now. And if they won't tell you the information that you're asking for, that's a telltale sign that you're dealing with Somebody that's unscrupulous. Antico says don't give in to scammers if they want you to repay a debt you don't recognize, refuse to give you the mailing address or phone number, pressure you, or even try to threaten you into paying a debt. Sandra Jones, WTOP News. It's 508. Welcome to the machine. Would you like to try a peach pie for $1 .59? At your favorite drive -thru, I'm Brendan Hazleton. Get a Precision AC tune -up for only $59. And at 508, let's check in with traffic weather and together on the 8th. Visit the WTOP Traffic Center and Rob Stalworth. Thanks Dale. Severe thunderstorms, soggy roads, downed trees, and dark traffic lights. Just a few of the issues, so please drive as if you have some common sense. On the outer loop in Virginia, passing I -95, headed toward have I -395. a good time. Thanks for watching. First, Lorton, down toward Dumfries. Your travel lanes are open, but delays remain there. North Bend Bend I -95 after 610 Garrisonville Road exit 143. The right lane is blocked for the crash and response scene. on Westbound 66 after the Fairfax County Parkway. The right lane blocked for a broken down vehicle before Route 128 in Centerville. It was eastbound 66 before 15 in Haymarket. The left lane was blocked for the crash response and there. GW Parkway both ways near 123. We had all northbound lanes blocked. At this point, getting by in the grassy meetings, southbound lanes we understand may be under police direction on the GW Parkway. If you're traveling northbound on 28th after Frying Pan Road, two left lanes were blocked for the crash scene. Maryland 270 southbound after Middlebrook Road, that's where we have the report of a crash. Georgia Avenue has dark traffic lights between the Beltway and Spring Street, also 355. At Edmondston Drive, traffic dark lights as well. Clara Barton Parkway outbound at the Cab and John Parkway. We had the down tree traveling the inner loop in Prince George's County near Central Avenue with the report of a crash. Outer loop delays leaving Old Georgetown Road coming off the southbound 270 spur toward the American Legion Bridge. Diffie Loop service centers keep you moving. From oil changes and tire rotations to filters and wipers and a full range of services, visit jiffyloopdc com for a location near you. I'm Rob Stalworth, WTOP traffic. Rob, thank you. Now let's get you caught up on those severe thunderstorms moving through the area. Chad, I'm looking at weather radar and they are fast moving. Yes, it's gonna last 10 minutes or so. The winds gonna gust to 60 miles an
Bloomberg Radio New York
"august. 17th" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Asia for this Thursday, August 18th in Hong Kong, Wednesday, August 17th in New York and coming up this hour. Fed minutes show officials agreed last month on the need to eventually dial back the pace of rate heights. Ten cent sales fall for the first time hit by an economic downturn in China. And Cisco gives an upbeat earnings forecast despite supply chain challenges. Verbal sniping between China and the U.S. about the climate change Bill, CDC had says a change of agency culture is needed. Hong Kong denies jury trial for democracy advocates. I'm Ed Baxter with global news. These Manchester United looking to bring in a top American forward. I'm Dan Schwartzman. I'll have that story more coming up in Bloomberg's boards. That's all straight ahead on Bloomberg daybreak Asia on Bloomberg 11 three O New York. Bloomberg 99 one Washington D.C., Bloomberg one O 6 one Boston, Bloomberg 9 60 San Francisco, Syria's exam one 19 and around the world on Bloomberg radio dot com and via the Bloomberg business app. Hi everybody, good morning if you're tuning in in the Asia Pacific, good day if you're listening elsewhere, big show today, good morning from Hong Kong. I'm Brian Curtis. Trust your all well. Thank you for joining us today. I'm David and glass also joining you guys from Hong Kong. You're listening to Bloomberg daybreak, Asia, and we are presented by interactive brokers, global analysts helping you find new global investment opportunities here to diversify your portfolio and also discover undervalued companies here that may have greater growth potential, try IBKR global analyst today at IBKR dot com slash GA. For a look at how things are shaping up as we get underway dark and early. Here in the Asia Pacific, Doug prisoners here, Doug. Hey, Dave. So I think we've got to begin with the fed minutes. They were front and center here in the U.S., more rate hikes are coming. That's apparent and the fed seems to be a little anxious about the risk of over tightening we'll take a closer look at that momentarily. Now, I think it's fair to say that the fed minutes did help to bring the equity market from session lows, but there's this other cloud looming over markets today, a super hot reading on UK inflation consumer prices in the UK, up 10.1% in July, a four decade high. So if you look at the treasury curve, we were up across the curve, particularly at the long and a ten year bay up about 9 basis points to two 89, a two year, the most sensitive to changes in policy up just about three basis points nearly around 28. Check that three 28. So the equity market as we know has been on high alert for signs of peaking inflation. It's been digesting quarterly earnings. If there is one concern, it's a deterioration in profit margins as a result of these inflationary pressures. So far this year, four out of the 5 companies that have reported in the S&P have either met or beat estimates. If you look at the equity market action today, NASDAQ comp down about 1.2% S&P comes in about 7 tenths of 1% and we had the Dow weaker by a half of 1%. Crude oil up today in New York and a stronger dollar will talk more about market action in about 15 minutes from now, Brian. All right, thanks very much. Let's take a closer look at the fed, officials agreed last month on the need to eventually dial back the pace of rate hikes. But they also wanted to gauge how they're monetary tightening was working toward curbing inflation. And according to minutes from the July meeting, officials also saw a significant risk of over tightening policy and at the same time they also worried about inflation becoming entrenched. The fed raised rates by 75 basis points at that July meeting in an effort to drive down inflation. That leaders have argued that the labor market is healthy enough to withstand those tightening measures. Today we heard from fed governor Michelle Bowman. Although we still have about 4 million people out of the pre-pandemic workforce, we continue to see strong employment gains and unemployment rates. The kind of labor market that has historically pulled in more workers. And in a way, she said, it could even be stronger. She said that challenges in securing child care are holding many families back from returning to the workforce. She said training efforts and private sector employment subsidies can help bring more workers back. In the meantime, traders will be waiting for more details on fed policy and of course you've got the CPI report and also the jobs report coming up officials will meet next. September 20th. Yeah, just to add to that, I just had a look at the market probability on this upcoming rate hike. It's closer now to 50 basis points than to 75. A few days ago, it was 50 50, really. Right, let's have a look at earnings right now, so we're talking Cisco reporting revenue here. To grow at least the guidance here, two to 4% in this fiscal quarter from a year back. Now, analysts had predicted that sales would be roughly flat from about a year ago. Now the outlook suggests that Cisco can weather this shaky economy in a slowdown in tech spending. The company had told investors and analysts that it was struggling to fill all of its orders because the supply chain issues. Now, the pandemic related lockdowns lifting, Cisco said it's been able to convert more of that demand into sales and I'm looking at shares right now in post market trade. We close at 46 66 in late trade where closely we're trading closer to 49 bucks right now, pop. All right, 5 and a half minutes past the hour, we have coming up, Lorraine Gilbert, CEO at wealth wise financial to take a look at the minutes and the impact on the market and what to expect going forward. Now it's time for global news
Bloomberg Radio New York
"august. 17th" Discussed on Bloomberg Radio New York
"Live from the Bloomberg interactive broker studios is Bloomberg daybreak for Wednesday, August 17th 2022, coming up the shower. Liz Cheney loses her house seat as two states vote in primary elections. Traders ready for minutes from the fed and retail sales data. China issues a warning to the U.S. over Taiwan. An oil dip, as we weigh the prospects of a nude nuclear deal with Iran. New York City schools abandoned COVID health screenings and PCR tests plus Rudy Giuliani will testify today before grand jury in Georgia. I'm Michael Barnes, more ahead. I'm John Stacey Evans for the Yankee slump continued the bats again quiet the home wants to Tampa Bay and the mets got shut out in Atlanta That's all straight ahead on Bloomberg daybreak. On Bloomberg 11 three zero New York, Bloomberg 99 one Washington D.C., Bloomberg one O 6 one Boston, Bloomberg 9 60 San Francisco, Syria's exam one 19 and around the world on Bloomberg radio dot com and via the Bloomberg business app. Good morning I'm John Tucker. And I'm Karen Moscow and U.S. stock index futures are lower the morning mayor coming up to 5 O one on Wall Street and we check the markets every 15 minutes throughout the trading day. On Bloomberg, right now S&P futures are down about 17 points now futures down 89 and NASDAQ futures down 75. The Dax in Germany is down four tenths of a percent. The ten year treasury down 1730 seconds yield 2.86% and a yield on the two year 3.29%, John. And Karen, we're going to have more on the markets in a moment, but first, we're going to begin with politics. Republican representative Liz Cheney has lost her primary in Wyoming. While former Alaska governor Sarah Palin is staging a political comeback and Bloomberg say me Morris has details from our 99 one newsroom in Washington. Cheney lost a lawyer Harriet hagerman who had been backed by Donald Trump, Cheney voted to impeach Trump and his co chair of the House select committee, investigating the January 6th insurrection. She warned her supporters about the future of the Republican Party, and the country. If we do not condemn the conspiracies and the lies, if we do not hold those responsible to account, we will be excusing this conduct, and it will become a feature of all elections. America will never be the same. In Alaska, party primaries were replaced with open primaries, the top four vote getters in each race advances to the general election in November. Sarah Palin was among the candidates to advance in the house race, senator Lisa Murkowski and challenger Kelly Chewbacca earned two of the slots in the Senate race, results are still being tabulated to determine the final two slots. In Washington, I'm Amy Morris, Bloomberg daybreak. All right, Amy, thank you while sticking with politics, President Biden has signed the inflation reduction act into law. He's hailing the landmark bill addressing tax climate and health policy. I'm keeping my campaign commitment. No one. Let me emphasize no one earning less than $400,000 a year will pay a penny more in federal taxes. President Biden signed the law with no GOP support from both chambers of Congress, Republican congressman Adrian Smith and Nebraska discussed the bills impact on the deficit laid yesterday on Bloomberg radio. It's important that the president understand we can not just continue without making any changes whatsoever continuing in the direction of this spending that I think has been very problematic. The American people expect us to get that under control. And Nebraska Republican congressman Adrian Smith made the comments on Bloomberg sound on, catch the program weekdays at 5 p.m. eastern on Bloomberg radio. And Karen to markets now where the S&P 500 posted a small gain yesterday earnings from Walmart and Home Depot boosted sentiment. Today we're going to be watching minutes from the Federal Reserve, which will test bents on a pivot towards slower rate hikes. Let's get more from Bloomberg's Mike McKee. After two moves of three quarters percent, the size of the fed's next rate increase is an open question. Investors may find some clues in the minutes of their last meeting. Those minutes likely won't settle the question, but they could indicate what kind of data officials would need to see to favor another unusually large increase. With chairman J Powell expected to speak at the Kansas City fed's Jackson hole conference a week from Friday, any post minutes market move may be short lived. Michael McKee Bloomberg daybreak. All right, Mike, thank you while those minutes come around 2 p.m. Wall Street time, but this morning it's all about the consumer we get data on U.S. retail sales for July at 8 30. Mastercard advisers chief economist Michelle Meyer expects another gain. The surveys have shown that consumers are worried. They're trying to plan ahead. They're trying to think about how to navigate the economic environment, but in the interim, they are still out spending. Michelle Meyer and Mastercard adviser remains bullish on U.S. spending economists predict a gain of just one tenth of a percent for July retail sales, stay tuned for complete coverage and analysis of the data coming up on Bloomberg surveillance. And when it comes to earnings, it's also about retail today, Karen, Bloomberg's Jeff Bellinger reports that target will deliver its earnings report this morning. Target made a strategic decision to rapidly liquidate much of its excess inventory. The second quarter results will indicate whether that was a good move and whether further markdowns are needed. Bloomberg intelligence has target may have continued to outpace its peers when it comes to store traffic, the chain has sought to be surgical in raising prices to protect the perception of value and maintain customer loyalty. BI says that may also have weighed on gross margin. Jeff Bellinger, Bloomberg daybreak. Thanks, Jeff and a day after Home Depot beat estimates were expected to get earnings from home improvement retailer lows today. And turning to commodities now, John oil continues to drop as traders weigh the prospects of a few key geopolitical factors right now West Texas screwed is up four 10% or 36 cents at $86 89 cents a barrel. Bloomberg's journey to young joins us live with that story Renee to good morning. Good morning, Karen, WTI futures dropped more than 3% yesterday, closing below $87 a barrel. They're also lowered this morning as talks between Iran and the European Union signal progress toward a renewed nuclear deal that could open the door to crude shipments from the Islamic Republic. Oanda market analysis says the potential for a deal creates a two way risk for the price of oil. But the primary driver of the current weakness is the threat of a global recession and coronavirus lockdowns in China. Live in New York, I'm renita young Bloomberg daybreak. And in the UK today, data shows the inflation accelerating yet again, consumer prices rose by double digits in July, an annual pace of 10.1%. The Bloomberg Lizzie bird in London says rising food prices are adding to the squeeze on UK consumers. Feud was actually the biggest contributor, which means that the poorest households are going to be hit the hardest. But it is also broad based recreation and culture with the next biggest contributors. And that's worrying for the Bank of England because it indicates that this is going to last longer. Bloomberg's Lizzie burdens his traders in our ramping up as the Bank of England will raise rates by 50 basis points come September. You're listening to Bloomberg daybreak.
The Hugh Hewitt Show: Highly Concentrated
Biden Isn't Trump. He's a Disaster in His Own Right.
"Representative. Franklin the administration is using axios this morning to put out a message that the cupboard was bear when they took over there was no plan. On the trump administration part to evacuate diplomats billions humanitarian aid workers. Interpreters etcetera is that adequate to this situation to explain the fiasco. And it's not a fiasco catastrophe. Is there any blame to be shifted to the trump administration. Absolutely not this. The timing and the manner of this departure is all of joe biden's choosing didn't have to be this way would not have been this way under president trump and But it's it's it's like we've seen for the last seven months at every turn every mistake. Is someone else's fault other than the administration's but it's all of their own doing