"Jon Stewart measures Trump's weight on the authoritarian scale. Between the president's refusal to correct the wrongful deportation of Kilmar Abrego Garcia to his incompetence on a variety of issues, Donald's dictatorship isn't looking very healthy"—The Daily Show

Jon Stewart on Kilmar Abrego Garcia’s Deportation and How Trump Fails to Deliver | The Daily Show >

https://youtu.be/OZbCyBMfy2c?feature=shared

#JonStewart #USA #facts #authoritarianism #DonaldTrump #buttlickers #health #insanities #bigotry #scrubs #deportations #racism #sexism #misogyny #RealGold #GoldPaint #TrumpeRegime #disaster #FinancialCrash #humour #video

#OTD 1987 after latest #FinancialCrash news reports of suicidal #StockBrokers, I headed up to the Carnelian Room for cocktails atop the #BankOfAmerica HQ, just a block or two from trading floor of #SF #Pacific #StockExchange , was kinda hoping to see some stressed out #BlackMonday #Investors lose it & jump, but people just sat around drinking & muttering...oh well

#KeirStarmer aims to turn the spotlight onto #Sunak’s career before politics in the lead up to the first #TVdebate about the #GeneralElection

#RishiSunak must face questions about the fortune he earned at a #HedgeFund which engineered a deal at the heart of the [2008] #FinancialCrash, #Labour has said, as it prepares to launch its first major attack on the prime minister ahead of the election debates.
https://www.theguardian.com/politics/article/2024/jun/02/pm-must-face-questions-about-hedge-fund-at-heart-of-financial-crash-says-labour
#GE2024 #ToryBehaviour #PrivateProfitPublicCost

From 1998: "Anxiety about stock prices is thus to a great extent concern over whether the economy can continue to grow at a steady pace without a rise in inflation. But neither the path of the economy nor changes in stock prices can be predicted with much confidence."
#macroeconomics #finance #corruption #markets #stocks #investment #FinancialCrash
https://www.nybooks.com/articles/1998/06/25/how-to-think-about-the-stock-market/

2024: #People #Starve As The #RichGetRicher

During the last ten years, (which saw the 2008 #financialcrash, #Covid19 and the #Ukraine/#Russia conflict) the collective wealth of this tiny shiny gang has increased by 120%

#Women #Transgender #LGBTQ #LGBTQIA #SocialJustice #Wealth #IncomeInequality #LetThemEatCake

https://www.counterpunch.org/2024/05/24/2024-people-starve-as-the-rich-get-richer/

In finance, an inverted yield curve is when interest rates on short-term debt instruments rise above the interest rates of longer-term debt instruments of similar creditworthiness. In other words, this is an unusual situation in which, all else being equal, shorter-term investments return more money than longer-term investments.

Historically, inverted yield curves on US treasuries have been reliable indicators of impending recessions or economic downturns, and more prolonged inversions generally correlate with more severe crashes, as this video by the Game of Trades investment channel demonstrates: https://www.youtube.com/watch?v=ELF_EivMCMI

(The last 30 seconds of this video are just ads for the channel's trading advice services.)

Our current situation in 2024 is that the yield curve has been inverted for 540 days, which is comparable to the durations of the inversions preceding the 1974 crash and the 2008 global financial meltdown (low 500s each) and second only to the 1929 market crash that kicked off the Great Depression (700).

The stock market is currently still going up, but keep in mind that the stock market went up for a long time after the 2008-era inversion as well: a record 657 days. If the market were to keep rallying for that length of time today, then the crash would begin this August.

2008 showed us that the average person will be angry and more ready to question capitalism itself when events like this happen. As Marxists, we must prepare to do widespread agitation, education, and organizing in its wake, spreading real knowledge about how to understand, resist, and fight back against capital.

#yieldcurve #ustreasury #federalreserve #invertedyieldcurve #recession #crash #financialcrash #financialmarket #economy #economics #news #politics #gfc #globalfinancialcrisis #2008 #greatdepression #depression #yieldinversion #capitalism #socialism #communism #socialist #communist #marxism #marxist #revolution #rev2030 #revolution2030 #tatertube #s4a #socialismforall

#SEC boss warns it's 'nearly unavoidable' that #AI will cause #financialcrash in the FT

#GaryGensler urges regulators to tame AI risks to #financial stability
SEC head warns reliance on a few data models could unleash a #financialcrisis within a decade https://www.ft.com/content/8227636f-e819-443a-aeba-c8237f0ec1ac

The head of the SEC said that without proper regulation, the artificial intelligence market could lead to an economic crisis as soon as the late 2020s.
https://www.vice.com/en/article/bvj5ww/sec-head-financial-crash-caused-by-ai-nearly-unavoidable?at_medium=Social%20media&at_campaign=Mastodon
#AI #OpenAI #ChatGPT #SEC #ArtificialIntelligence #financialcrash #monopoly

SEC Chairman Gensler expects the US will end up with two or three foundational #AI models, making a #FinancialCrash more likely because when one model or data set becomes central, it increases “herding” behavior, meaning that everyone will rely on the same information and respond similarly.

“This technology will be the center of future crises, future financial crises,” Gensler said. “It has to do with this powerful set of economics around scale and networks.”

https://www.axios.com/2023/08/12/artificial-intelligent-stock-market-algorithms

"The economic shock of the pandemic was not only the loss of economic output brought on by social restrictions, but acute shortages of products — foods, medicines, semiconducting chips — caused by disrupted supply lines. The world is still living with the consequences, in the form of inflation linked to the shortages, which was amplified by rising energy prices after Russia invaded Ukraine in 2022." #History #FinancialCrash #inflation #Economics 2/2

"The outcome, James argues, is often an immediate retreat from globalization, as nations close in on themselves, seeking safety and stability. Yet, simultaneously, there is also a push for greater globalization, stemming from the emergence of new technologies or the search for fresh resources." #BookReview #Economics #FinancialCrash #Crisis #History #globalization https://www.nature.com/articles/d41586-023-02129-z

Crisis? What crisis?

https://www.theguardian.com/business/2023/may/01/us-banking-titan-jp-morgan-to-snap-up-most-of-first-republic?CMP=Share_iOSApp_Other

#FinancialCrash
#Banking

Denmark - "Things are tough but we'll look after you."
Italy - "We're all in this together."
Germany - "The rising tide lifts all boats."
UK - "We just let your boss steal your wages."

#UKPolitics #Budget #FinancialCrash

Credit Suisse's shares slumped after it revealed on Tuesday that its auditor, PwC, had identified "material weaknesses" in its financial reporting controls.

#FinancialCrash

https://apple.news/ADLrCxPk9SDqHxN_pG5uZdw