Supply chain snarls are “more of a symptom than a cause” of surging inflation, with the key factor driving up prices being massive government spending on pandemic emergency programs that caused demand to balloon against a backdrop of squeezed supply, according to former Federal Reserve Bank of Richmond President Jeffrey Lacker. “Simple sayings are often…
Stimulus Spending Main Cause of Red-Hot Inflation, Not Supply-Side Bottlenecks: Former Fed Official
April 18, 2022
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Business & Economyeconomygovernment spendinginflationInvestmentMarketspersonal financePolicies & Impactssupply chainUS
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Dorsey Rips Twitter Board for ‘Dysfunction’ After Musk Accuses It of Failing to Represent Shareholders
April 18, 2022
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Business & EconomyCompaniesElon MuskInvestmentJack DorseyMarketsMedia & Big TechSocial MediaTechTwitterUSUS News
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Twitter co-founder Jack Dorsey penned a scathing tweet over the weekend calling the company’s board of directors a consistent source of dysfunction after Tesla CEO Elon Musk accused the Twitter board of failing to represent the interest of shareholders. Dorsey made the remark in a tweet thread initiated by Garry Tan, co-founder of Initialized Capital, who…
Why You Shouldn’t Take Celebrity Investment Advice at Face Value
April 17, 2022
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Alternative InvestmentsBrightCelebrity Investment AdviceinvestingInvestmentinvestment advicepersonal finance
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For the everyday investor, it can be tempting to look at celebrity investments like Warren Buffett as bastions of truth. These stock titans may appear to have an inside track on the market—and Buffett’s advice reportedly works for many—but if investing were as simple as following a superstar formula, we’d all be rich. The investing…
Investing in the Metaverse
Commentary Young people feel attraction to the metaverse that older folks cannot understand. Some young enthusiasts have even bought property in that entirely imaginary land—as an investment, they say. At first blush, this practice seems outlandish, but on reflection, metaverse investments are not that much different than other investments, hardly as revolutionary as the young…
US Pension Funds Invest Billions in Chinese Firms, Stoking National Security Concerns
April 15, 2022
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Business & EconomyCCPChinaChina Business & EconomyChina Human RightsChinese RegimeInternationalInvestmentmilitaryUnited StatesUS-China relations
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Recent actions by Republican lawmakers have called attention to the willingness of top U.S .pension funds to invest in Chinese companies that may have ties to the regime in Beijing and may play a role in enhancing the regime’s military and surveillance capabilities. Sen. Marco Rubio (R-Fla.) and two GOP colleagues, Sens. Tom Cotton (R-Ark.)…
Twitter Reportedly Mulls ‘Poison Pill’ Tactic to Foil Musk Takeover Bid
April 15, 2022
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Business & EconomyCompanieseconomyElon MuskInvestmentMarketsMedia & Big TechPoison pillSocial MediaTechTwitterUSUS News
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Twitter is reportedly considering a so-called “poison pill” tactic to thwart Elon Musk’s effort to buy out the social media platform, sources say. Cameron Winklevoss, founder of the Gemini cryptocurrency exchange, said in a tweet that “Twitter is considering a poison pill to thwart @elonmusk’s offer,” while two anonymous sources told The New York Times…
Musk Responds to Reports Twitter Mulling ‘Poison Pill’ Tactic to Foil His Takeover Bid
April 15, 2022
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Business & EconomyCompanieseconomyElon MuskInvestmentMarketsMedia & Big TechPoison pillSocial MediaTechTwitterUSUS News
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Twitter is reportedly considering a so-called “poison pill” tactic to thwart Elon Musk’s effort to buy out the social media platform, prompting a critical response from the Tesla chief. Cameron Winklevoss, founder of the Gemini cryptocurrency exchange, said in a tweet that “Twitter is considering a poison pill to thwart @elonmusk’s offer,” while two anonymous…
Housing Beat: Mortgage Rates Hit 5 Percent Level While Property Taxes Inch Higher
The week in housing was one of great challenges, with mortgage rates cracking the 5 percent level while homeowners faced an uptick in property taxes and state attorneys general demanded that mortgage services drop their convenience fees charged to borrowers. High-Five Freddie Mac reported the 30-year fixed-rate mortgage averaged 5 percent on April 14, up…
Tesla’s Musk Raised Billions Ahead of Twitter Bid
Elon Musk wants to buy Twitter Inc for $43 billion in cash, and the $16.4 billion he netted from sales of Tesla Inc shares last year could help. “Musk could look to fund the transaction, if approved, through a combination of debt financing and potentially Tesla shares,” CFRA Research analyst Angelo Zino said. “Given the…
Twitter Shares Slide After Saudi Investor Rejects Musk’s Bid for Twitter
Elon Musk’s ambitious bid to take Twitter private under his ownership has hit a roadblock as Saudi investors are rejecting the Tesla CEO’s offer, causing Twitter shares to drop and setting the stage for a bitter struggle for control of the social media giant. On Thursday, several hours after Musk announced his “final offer” to…
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