Looking for "Economy"

The End of the Road: Yellow Corporation’s Century-Long Journey Concludes

For almost a century, the highways and byways of America were graced by trucks bearing the iconic Yellow Corporation insignia. As one of the nation’s most prominent trucking companies, Yellow’s sudden shutdown sent shockwaves throughout the industry and the broader economy. The question now reverberating through the corridors: Is Yellow’s demise indicative of a more significant economic downturn on the horizon? Every taxpayer, knowingly or unknowingly, held a stake in Yellow’s journey. Thanks to the Coronavirus, Aid, Relief, and Economic Security (CARES) Act, Yellow Corporation secured a hefty $700 million from the $735.9 million reserve earmarked for national security loans.

Bitcoin Blockchain Records Over $8 Trillion in Transactions

In a groundbreaking milestone, the Bitcoin blockchain has etched its digital legacy by surpassing a staggering $8 trillion in recorded transactions. This remarkable feat underscores the enduring and transformative power of cryptocurrencies in reshaping the global financial landscape.

Biden’s Union Pension Bailout: A Lifeline or a Gamble?

The Biden administration recently disclosed its comprehensive guidelines for the bailout of hundreds of embattled union pension plans. The initiative, embedded in the Democrats’ $1.9 trillion American Rescue Plan Act (ARPA) designed to ease the financial strains of the COVID-19 pandemic, aims to secure workers’ pensions for many decades. However, this move has sparked some controversies. The ARPA’s Special Financial Assistance Program will funnel an enormous $90 billion of taxpayer capital into the federal government’s Pension Benefit Guaranty Corporation (PBGC). This entity serves as the insurer for private-sector pensions and was on the brink of insolvency before the ARPA intervention,

Profiteers of Destruction: Reconstruction in Ukraine

As Ukraine faces the Herculean task of rebuilding from the ruins of war, financial behemoths BlackRock and JPMorgan Chase are poised to transform this adversity into a trillion-dollar golden opportunity, according to recent reports. These corporations, long associated with financing and indirectly prolonging the conflict, have been granted no-bid contracts by the Biden administration to orchestrate the reconstruction, a move reminiscent of Halliburton’s lucrative involvement in Iraq. Under the altruistic guise of a “humanitarian effort,” these financial juggernauts are spearheading the creation of the Ukraine Development Fund, a reconstruction bank designed to channel public seed capital into projects. The aim?

Federal Reserve’s Instant Payment System, FedNow®, Goes Live

The Federal Reserve made a landmark announcement on Thursday, rolling out the FedNow® Service, a new system that will enable instant payments. This move is expected to overhaul the banking sector, allowing banks and credit unions of all sizes to instantly transfer money on behalf of their customers 24/7. Unlike consumer applications that enable instant peer-to-peer transactions, FedNow® isn’t a retail facing app in the traditional sense, it is a payment rails system that will enable banks with the ability to instantly move customer funds. More than 50 financial institutions, including powerhouses like JPMorgan Chase, Wells Fargo, and Peoples Bank,

Lex Fridman: Austrian Economics vs Keynesian Economics with Saifedean Ammous

Understanding Macro: Why The Fed is Crashing The Economy on Purpose with James Lavish

What Bitcoin Did: The Pragmatic Apocalypse with Balaji Srinivasan

How An Economy Grows and Why It Doesn’t: Timeless Economic Lessons For Everyone

The American economic landscape is filled with complex theories and intricate practices. However, understanding these concepts doesn’t always require an economics degree. Sometimes, the simplest stories can capture the essence of complex economic ideas. Such is the case with Irwin Schiff’s classic educational comic from the 1980s, “How an Economy Grows and Why It Doesn’t.”

Venture Funding in Cybersecurity Plummets 63% in Q2 Amidst Shifts in Investment Climate

Just two years ago, venture capital was pouring into the cybersecurity sector like a gushing spring, topping $23 billion in 2021. However, Crunchbase data reveals a stark contrast in Q2 2023, showing a 63% drop from the same quarter last year, bringing venture funding for cybersecurity to a mere $1.6 billion. This represents the lowest venture capital funding in the sector since Q4 2019. In the first half of this year, cyber startups have managed to raise only $4.3 billion, a fall of 60% from the $10.8 billion raised in the first half of 2022. This figure is also more