Saudi Arabia has tripled value-added tax and suspended some allowances following the oil-price collapse. The country’s budget deficit in Q1 2020 rose to nearly $10 billion. For its books to balance, the kingdom’s breakeven oil price is over $70. Saudi Arabia ranks highly among the countries that are heavily dependent on oil. When oil prices…
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Elon Musk just announced on Twitter that he is reopening his Fremont plant. He said that if anyone is arrested, it should be him. California Governor Gavin Newsom should arrest the childish billionaire, or risk an uprising from newly empowered business owners. Elon Musk’s recent edgy streak hit a crescendo on Monday afternoon. The Tesla…
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A restaurant in Colorado illegally reopened on Mother’s Day. People were crowding the cafe, practicing little-to-no virus hygiene. While the busy restaurant might seem promising for the U.S. economy, it’s actually a giant red flag. One restaurant took an illegal break from Colorado’s Safer at Home orders. C & C Coffe and Kitchen in Castle…
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With less than 10 hours until the Bitcoin halving, price of BTC dropped by nearly 20%. Selling pressure seems to come from whales, as open interest surged on BitMEX before the big fall. Whales are seemingly taking advantage of retail investors around the halving narrative. In less than 10 hours, the highly anticipated Bitcoin halving…
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India’s coronavirus lockdown enters its final week. Cases have spiked alarmingly in May. The government is discussing a phased lockdown exit. As India enters the final week of the world’s biggest lockdown that originally began on March 25 to contain the spread of the novel coronavirus, the picture doesn’t seem to be all that great.…
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90 Day Fiance star Rose Vega dumped “Big Ed” Brown on last night’s episode. She instantly became an internet hero. Vega flies in the face of the show’s subtle stereotypes. The 90 Day Fiance franchise is one of the top-rated shows on TLC. Celebrity fans, including Chrissy Teigen and Issa Rae, helped make it one of the most-watched…
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Ubisoft has announced a replacement E3-style showcase dubbed Ubisoft Forward. The digital-only broadcast, scheduled for June 12, will feature “exclusive game news, exciting reveals, and much more.” Let’s hope it features gameplay after last week’s Assassin’s Creed Valhalla misfire. The E3-less summer schedule is starting to take shape. After revealing that it was eyeing up…
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The Federal Reserve’s Survey of Consumer Expectations shows a deterioration in Americans’ view of the economy. For the first time since the financial crisis, respondents expect home values to flat-line over the next year. Listing prices are down across several major metro regions. The Federal Reserve’s monthly survey of consumer expectations has painted a bleak…
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There’s a wide divergence between how consumers feel about the economy and the stock market. As Americans grow more fearful about the economy, they’re expressing even more confidence in the stock market. Does this mean the “FOMO rally” that fueled the Dow Jones recovery is about to come to an end? The stock market is…
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The Dow Jones flatlined during a relatively uneventful start to the week. Hopes of a V-shaped recovery continue to support the U.S. stock market, even as global coronavirus cases top 4 million. Negative interest rates have become a realistic possibility in the United States, and one Harvard economist even thinks they are a great idea.…
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