💸🪙 It’s one of the most revolutionary and over-hyped inventions of the 21st century.
And the Winklevoss twins are at the center of it.
This week’s Crash Course dives into the most recent meltdown in the crypto world iheart.com/podcast/1119-c…
Our special guest this week is @LionelRALaurent, a financial columnist covering crypto from Europe.
Sam Bankman-Fried’s crypto exchange FTX has filed for Chapter 11 bankruptcy. For customers, the losses are staggering.
In the grand scheme of business history, FTX looks like a greatest hits version of classic financial disasters trib.al/1sL0Ce6
FTX extended too much leverage to its customers. When crypto prices crashed, the collateral couldn’t be sold without triggering further price declines.
This is similar to the nickel meltdown at the London Metals Exchange earlier this year bloomberg.com/news/articles/…
Nov 10, 2022 • 6 tweets • 3 min read
The heart of the US-China rivalry is in the Indo-Pacific.
@HalBrands is traveling across Japan, Australia, India and the UK to cover how they plan to contain China.
Here are some highlights from his dispatches ⬇️: trib.al/CJ4spFJ
If there is a war between the US and China, it won’t simply be a fight over Taiwan or some other hotspot.
It would be a fight for hegemony in a crucial region, and for all the global influence that follows bloomberg.com/opinion/featur…
Nov 10, 2022 • 6 tweets • 3 min read
The core CPI, which excludes volatile food and energy prices, rose 0.3% in October from September.
The yield on two-year Treasury notes tumbled 22 basis points, and the Nasdaq 100 was poised for the biggest jump since April 2020 bloomberg.com/opinion/articl…
Using three months of data to adjust for volatility, the annualized core CPI pace is still running around 5.8%.
After a long campaign season, we’re finally here. Election Night.
Here’s what we’ve learned in recent weeks on the state of the race and the nation trib.al/hAEJazZ
Democrats face tough odds to hold onto the House and Senate for a number of reasons tied to:
➡️ The struggling economy
➡️ Rising crime rates
➡️ Difficulties in connecting with voters trib.al/Q9uKkEg
Nov 8, 2022 • 8 tweets • 5 min read
Amid the brutal crypto selloff, Sam Bankman-Fried’s exchange FTX was hailed as the buyer of last resort amid the wreckage.
Now rival billionaire Changpeng Zhao of Binance is buying him out trib.al/PIAva7I
Zhao announced plans to sell Binance's $530 million stash of the FTX-run token FTT, heaping selling pressure on an already battered crypto market.
This snowballed into an existential crisis for FTX. $1 billion was withdrawn from the exchange in a week trib.al/PIAva7I
Oct 26, 2022 • 11 tweets • 5 min read
The crisis in US K-12 public education continues to deepen, and decisions by many colleges and universities to abandon SAT and ACT scores are making it worse trib.al/4KZ5itW
ACT scores have fallen to the lowest level in 30 years, while fourth- and eighth-grade math and reading scores from the National Assessment of Educational Progress show declines.
These results underscore the urgency of K-12 interventions trib.al/wCWSQKm
Oct 25, 2022 • 10 tweets • 5 min read
President Joe Biden’s policies didn’t cause many of the economic problems the US faces today. But they did make them worse.
His policies might reduce growth in the future and make the economy less equal and resilient trib.al/jjtIxtN
The president normally doesn’t have much impact on the current economy; he doesn’t set energy or asset prices. But the Biden administration has been productive when it comes to economic policy making.
Most of those policies were bad for the economy trib.al/Ez65b22
Oct 25, 2022 • 6 tweets • 4 min read
Will they split? Won’t they?
On Tuesday, we finally got an answer to whether Kanye West and Adidas would go their separate ways.
📢 Today at 11 a.m. EST, join @skgreen, @AndreaFelsted and @benschott for a LIVE conversation on @TwitterSpaces: twitter.com/i/spaces/1dRKZ…
The sportswear giant said it was ending its almost decade-long collaboration with the musician, now officially known as Ye, after putting it under review last month.
So @matt_levine decided to write a 40,000 word thing about it for @bw. Here’s why: trib.al/fhtMliU
Crypto is a set of ideas and products and technologies that grew out of the Bitcoin white paper.
But it’s also a set of lines on charts that went up trib.al/fhtMliU
Oct 24, 2022 • 9 tweets • 4 min read
California’s economy has proven resilient through Covid and high inflation.
The Golden State’s GDP is poised to overtake Germany’s as the fourth largest in the world after the US, China and Japan trib.al/40VIGVQ
California already leapfrogged Brazil (No. 7) and France (No. 6) in 2015 and supplanted the UK (No. 5) in 2017.
Estimates suggest the state may have already caught Germany trib.al/9uVpLZ5
Oct 24, 2022 • 12 tweets • 5 min read
Rishi Sunak won the leadership of the Conservative Party and the prime ministership of the UK on the most important day of Diwali, the “festival of light.”
It is celebrated by Hindus, Sikhs, Jains and some Buddhists trib.al/gGWss1D
Sunak will be the first Hindu to become UK prime minister.
His time in office will hinge on his ability to deliver a reasonable measure of prosperity to a country that is in dire economic straits trib.al/MwelLdo
Oct 24, 2022 • 10 tweets • 5 min read
The line up for the new leadership of China’s Communist Party is out. It’s a clean sweep for President Xi Jinping.
The new Politburo Standing Committee — China’s most powerful governing body — is comprised with his men trib.al/57Ehbeg
New members of the Politburo Standing Committee include:
—Shanghai party secretary Li Qiang
—Guangdong province’s party chief Li Xi
—Beijing party secretary Cai Qi
—Xi’s chief of staff Ding Xuexiang
Li Qiang is likely to become China’s next premier trib.al/ru3K5LT
Oct 7, 2022 • 12 tweets • 7 min read
As the pound and euro struggle relative to the dollar, opportunistic US travelers might be wondering if it’s time to book an international trip.
But don't think there are bargain-basement prices everywhere in the UK and Europe trib.al/l7hDrHs
The dollar may get you 20% more when dining or shopping, but in-demand hotels are still expensive.
High-end accommodations in Paris and Capri have increased their rates by as much as 40% and are likely to keep them there trib.al/l7hDrHs
Oct 6, 2022 • 12 tweets • 6 min read
The conventional wisdom about hunger is changing.
A new scientific understanding says that people eating the wrong kind of diet can suffer from both hunger and obesity trib.al/kplopwE
A more scientifically accurate view of hunger and obesity couldn’t come at a better time:
—Obesity affects about 40% of the US population
—Almost one in four Americans has trouble affording food
—The price of food has risen more than 11% since last year trib.al/cwAHzlc
Oct 5, 2022 • 12 tweets • 9 min read
Many uncertainties swirl around the UK’s new government — so many, indeed, that betting on whether it survives is keeping bookmakers busy.
But this is for sure: If Liz Truss can’t keep homeowners on side, her party is toast at the next election trib.al/8xxDc9Q
In the first week since Kwarteng’s disaster mini-budget, UK lenders pulled 40% of mortgage packages on the market so they could recalibrate.