Tag: credit cards

US economy expanding?

Ms. Cat2 Comments

The first estimate of third quarter real GDP growth in the US was released yesterday. It showed the US economy expanded by an annualised rate of 4.9%. The Financial Times called this a “blistering pace that, not for the first time, defied gloomier predictions from economists.” US Treasury Secretary Janet Yellen commented that “It’s a good, strong number and it shows an economy that’s doing very well,” and she is “not expecting growth at that pace to continue, but we do have good, solid growth.”

US economy expanding?

Bill to Ban Tik Tok Would Give Government Sweeping Powers to Crackdown on Tech

Ms. Cat

Bill to Ban Tik Tok Would Give Government Sweeping Powers to Crackdown on Tech

A person who violates the act could be fined up to $1 million or punished with up to 20 years in prison. The broad and vague definitions in the legislation caused many to wonder if people could be handed such harsh punishments for using Virtual Private Networks (VPNs) to get around future government censorship that could come as a result of the bill.

A spokesperson for Warner insisted that the legislation wasn’t designed to target individual users and pointed to the language that says someone “must be engaged in ‘sabotage or subversion’ of American communications technology products and services, creating ‘catastrophic effects’ on US critical infrastructure, or ‘interfering in, or altering the result’ of a federal election, in order to be eligible for any kind of criminal penalty.”

But the bill will give the Commerce Secretary the authority to deem what is considered “sabotage or subversion” or any of the other threats listed above. The legislation has grave implications for civil liberties and could be used against any individuals or tech and media companies the Biden administration, or any future administration would want to target.

Previously:

Tik-Tok bills could dangerously expand national security state

Fed’s Powell Calls U.S. Economy “Robust” as Personal Savings Rate Collapses to Same Level as in Financial Crisis of 2008

Ms. Cat

By Pam Martens and Russ Martens: October 27, 2022

At Fed Chair Jerome Powell’s press conference on September 21, he made a remark that went unchallenged by the bevy of reporters in attendance. Powell said this:

Fed’s Powell Calls U.S. Economy “Robust” as Personal Savings Rate Collapses to Same Level as in Financial Crisis of 2008

2 Turkish banks suspend Russian Mir payments after US sanctions: report

Ms. Cat

2 Turkish banks suspend Russian Mir payments after US sanctions: report

Turkish Finance Minister Nureddin Nebati at the time called concerns over the letter “meaningless.” In April, he said Russian tourists — critical to Turkey’s beleaguered economy — could easily make payments since the Mir system was growing among Turkey’s banks.

…

After the two private lenders suspended Mir, it is still operated by state lenders Halkbank (HALKB.IS), Vakıfbank (VAKBN.IS) and Ziraat.

H/T: Tim Pool 2

Irrelevant (or maybe not):

No Jeeves: Putin the courteous tips dear guest Erdogan’s chair

Looks like it was an accident and they were leaving, anyway.

“Tsunami Of Shutoffs”: 20 Million US Homes Are Behind On Power Bills

Ms. Cat

At least 20 million households — or about 1 in 6 American homes — are behind on their power bills as soaring electricity prices spark what is said to be the worst-ever crisis in late utility payments, according to Bloomberg, citing data from the National Energy Assistance Directors Association (Neada).

“Tsunami Of Shutoffs”: 20 Million US Homes Are Behind On Power Bills

Video via Jimmy Dore