"Every revolution begins with a single act of defiance" -- Mahatma Gandhi

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JPMorgan Slides After Dimon Warns On Net Interest Income, Outlook Disappoints Ladylove

 

By Tyler Durden

Nolte: Democrat-Run St. Louis Enters Doom Loop MikeRivero

“The office district is empty, with boarded up towers, copper thieves, and failing retail,” reports the Wall Street Journal of Democrat-run St. Louis, Missouri. “[E]ven the Panera outlet shut down. The city is desperately trying to reverse the ‘doom loop.’”

Let’s look at the mayoral history of the doom-looping St. Louis, shall we?

Turkey’s ban on some exports to Israel is poised to hit Israel’s construction industry hard at a time when the sector has already been badly damaged by the war with the Hamas terror group.

The imposed trade restrictions, mostly affecting goods upon which Israeli builders are dependent, will force importers to seek alternative suppliers from other countries, thereby incurring additional costs that will mean higher prices for consumers and businesses.

Sound Money Vs. Fiat Currency: Trade And Credit Are The Wild Cards Ladylove

Authored by Charles Hugh Smith via OfTwoMinds blog,

We need to start thinking outside the current system, which has no solutions.

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Credit-card delinquency rates were worst on record in Fed study MikeRivero

US credit-card delinquency rates were the highest on record in the fourth quarter, according to a Federal Reserve Bank of Philadelphia report.

Almost 3.5% of card balances were at least 30 days past due as of the end of December, the Philadelphia Fed said. That’s the highest figure in the data series going back to 2012, and up by about 30 basis points from the previous quarter. The share of debts that are 60 and 90 days late also climbed.

Lisa D. Cook is one of the world’s most powerful economists. She taught economics at Harvard University and Michigan State University and served on the Obama administration’s Council of Economic Advisers before being appointed, in 2022, to the Federal Reserve Board of Governors, which controls the interest rates and money supply of the United States.

Vietnamese property tycoon given death sentence in $12B fraud case MikeRivero

A court in Vietnam on Thursday ordered the death penalty for a real estate tycoon found guilty in a financial fraud case totalling more than $12 billion US.

Vietnamese state media called it the country's largest-ever case of financial fraud.

The conviction of Truong My Lan came amid a government anti-corruption crackdown by Communist Party general secretary Nguyen Phu Trong.

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Caroline Dove and Becky Ward, from Cambridgeshire, have been cooking and delivering hundreds of hot meals for people in need. They used to supply up to 40 meals twice a week when they started 18 months ago, but now it is about 90. “One of my elderly ladies was actually buying dog food because it was cheaper than human food,” said Ms Ward. “She said she’s gone through the war and the rations and all that sort of stuff and so dog food didn’t taste any different to her.”

Late on Tuesday, the financial world was swept up by a report from Bloomberg according to which an unknown trader had put on single record-sized trade, betting that today's CPI print would come in dovish, and forcing the Fed to cut sooner. It did not work out quite as expected.