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Over the next few months, the bakery-café chain will roll out scanners that can access customers' credit card and loyalty account using their palm. The biometric-gathering technology, developed by Amazon and called Amazon One, is already popular in airports, stadiums and Whole Foods Market grocery stores. Panera is expected to become the first national restaurant company to use it.
Doubleline Capital’s Jeffrey Gundlach said on CNBC that he expects a US recession will start in a few months, and that the Federal Reserve will need to respond “very dramatically.”
Venture capitalist Balaji Srinivasan believes that hyperinflation is happening now. Srinivasan is an angel investor, tech founder, and a Wall Street Journal bestselling author. He formerly served as the CTO of crypto exchange Coinbase and was a general partner at venture capital firm Andreessen Horowitz (A16z).
Commenting on a tweet made by former Twitter CEO Jack Dorsey in October 2021 stating that hyperinflation will happen “soon” and will “change everything,” Srinivasan tweeted Friday, “Jack is right.” He emphasized:
Hyperinflation is happening — now.
It’s not clear that data is going to rule the waves this week because nerves are frayed and probably fraying further as we wait for more shoes to drop—meaning more banks to disclose problems and maybe even fail. This is looking increasingly like a self-fulfilling prophecy. Conditions are calm at the moment but consider that the sale of Silicon Valley didn’t get done until the middle of last night and at a huge cost to the government, and never mind that the FDIC can just hike its fees
Central banks are running full speed ahead to prevent the sense of a global crisis, but everyone wonders if a crisis mentality is not inevitable anyway. The Fed is mulling over whether to expand the emergency lending program instead of offering it upfront before the dirt hits the fan.
Even if an actual crisis is averted, a credit crunch is clearly loaming. It was looming back when the central banks announced giant hikes to come, but somehow we all missed the point that the banks might not be equipped to handle it.
Adding to crises like the pandemic, recent stress in the banking system is a new threat to world growth, experts at the organization said.
Global debt has hit a record $300 trillion, or 349% leverage on gross domestic product. This translates to $37,500 of average debt for each person in the world versus GDP per capita of just $12,000. Government debt-to-GDP leverage grew aggressively, by 76%, to a total of 102%, from 2007 to 2022.
There is no easy way to keep global leverage down. Trade-offs include more cautious lending, reduced overspending, restructuring low-performing enterprises and writing down less-productive debt. This will require a “Great Reset” of policymaker mindset and community acceptance.
The heavily armed shooter who blasted her way through a Tennessee Christian school on Monday, killing six, was identified as Audrey Elizabeth Hale, a Nashville native who formerly attended the school, police said.
The shooter was also being treated for an emotional disorder — and had hidden her cache of weapons from her parents. “She was under care, doctor’s care, for an emotional disorder,” Drake said, adding that cops “knew nothing about the treatment she was receiving.” The police chief did not elaborate on what kind of emotional disorder she was suffering.
Hale also identified as transgender, Drake revealed at an earlier press conference Monday, though it wasn’t clear whether the suspect identified as a man or woman. Hale used male pronouns and the name Aiden on some social media accounts
Police have not elaborated on Hale’s connection to the Covenant School, other than to say she was a former student there.
A source close to the Hale family told The Daily Beast that the shooter was autistic “but high-functioning” — however, cops were not able to immediately confirm that.
The following year, she posted a link to a petition to “keep guns out of schools” in connection to the Sandy Hook massacre in 2012. She wrote alongside the post, “So important!”
Ten barges broke free on the Ohio River, emergency crews confirmed, and one carrying methanol is sinking.
The Kentucky Emergency and Environment cabinet said 10 of 11 barges got loose from the tug Tuesday.
They said the one of those is partially underwater and is carrying 1,400 tons of methanol. The CDC says methanol is a toxic alcohol that is used industrially as a solvent, pesticide, and alternative fuel source.
Larry McDonald developed a framework for analyzing stock market risk after his experience during the subprime mortgage crisis, and he says all his indicators are flashing warning signs