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“Broke Generation”: 64% Of Gen Xers Have Stopped Saving For Retirement By Kathie Rothman of WRAL Tech Wire While their parents belonged to the “Greatest Generation,” Gen X may soon be carving out a reputation as the “Broke Generation.” A recent survey conducted by Clever Real Estate polled 1,000 Gen Xers born between 1965 and…

Micron To Invest $600MM In Chinese Factory Despite Beijing Chip Ban, Warns Half Of China HQ Customer Data Revenue At Risk A little more than three weeks after China’s cyberspace regulator announced that Micron Technology, America’s biggest maker of memory chips, possesses “serious network security risks” and will be banned from critical infrastructure projects in…

Is The ESG Investing Boom Already Over? Authored by Alex Kimani via OilPrice.com, After peaking at $17.1 trillion in 2020, ESG assets in the United States dropped sharply to just $8.4 trillion in 2022. Oil and gas companies are pushing back against activist proposals in their boardrooms. Last week, CEO Darren Woods urged regulators to…

Dershowitz: Why Donald Trump Cannot Get A Top-Tier Lawyer Authored by Alan Dershowitz  via the Gatestone Institute, Former President Donald Trump has now been arraigned and pleaded not guilty. He was represented by two lawyers, neither of whom he apparently wants to lead his defense at trial. He has been interviewing Florida lawyers, and several…

Bonds, Stocks, & Bullion Bounce As Market Calls Powell’s ‘Hawkish’ Bluff Overnight ugliness in China data spurred yuan weakness (pushing CNH to its weakest vs the dollar since Nov ’22), but the dollar’s weakness today (post-ECB) smashed yuan higher (its biggest jump since March) despite all those hopes of stimmies… Source: Bloomberg The ECB’s Christine…

Government Job Numbers Make No Sense Authored by Ryan McMaken via the Mises Institute, The Bureau of Labor Statistic (BLS) released new jobs data on Friday. According to the report, seasonally adjusted total nonfarm jobs rose 339,000 jobs in May, well above forecasts. The unemployment rate rose slightly from 3.4 percent to 3.7 percent (month over month).…

“Don’t Call It A Skip” – Fed ‘Pause’ Prompts Wild Swings Across All Assets A ‘pause’ in rate-hikes and a far more hawkish dot-plot than expected spooked markets and then Powell monotonously meandered through his press conference, seemingly providing something for doves to cling to (though we are not sure what). Powell emphasized that the…

The Great Dollar Paradox Authored by James Rickards via DailyReckoning.com, The de-dollarization story is everywhere. You see it in publications from The New York Times to The Economist and in financial media including CNBC, Fox Business and Bloomberg. The idea is that countries around the world are preparing to ditch the dollar. This takes many forms including efforts by…

After Biden ‘Promised’ Sweden Will ‘Soon’ Enter NATO, Erdogan Remains Defiant To listen to the words of either the Biden administration or NATO Secretary General Jens Stoltenberg one could easily think that Sweden’s accession into NATO is a ‘done deal’. Sweden itself is saying there is “strong support” for Sweden’s membership going into the July 11-12 major annual summit…

Escobar: US Attempts ‘Divide & Conquer’ Strategy Against BRICS Authored by Pepe Escobar, Something extraordinary, at least on the surface, happened on the sidelines of the Shangri-La Dialogue in Singapore earlier this month – a somewhat pompous affair self-described as “Asia’s premier defense summit”. Intel heads of 24 nations met in de facto semi-secrecy, because…

Dollar Dives As Yellen Questions Reserve Currency; Bonds & Bullion Battered After Mixed CPI Something for every narrative in this morning’s CPI: Headline CPI tumbled (yay, Fed is done forever!); Goods inflation rebounding (Fed can pause as Services prices slow); Core CPI warmer than expected and still sticky high (Fed can’t stop, but maybe a…

The Collapse Just Won’t Stop: 10 Weeks Later, Tranheuser Busch Sales Still Cratering, Down 27% The historic, unprecedented self-sabotage at Tranheuser-Busch at the hands of woke, underqualified, virtue-signaling idiot, just refuses stop. Ten weeks after the attention-starved Dylan Mulvaney posted an April 1 video on his Instagram account to promote Bud LIght, which was promptly…