Friday, August 15
Headlines
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The producer price index report showed that inflation for businesses rose. The July PPI report indicated that inflation for businesses, aka “wholesale inflation,” increased by 0.9% last month, more than the 0.2% forecast. Economist Stephen Brown at Capital Economics said in a client note that some of the rise is attributable to higher costs in portfolio management, which “won’t concern the FOMC”—the Federal Open Market Committee, which is the part of the Federal Reserve that makes monetary policy. However, following the report, the odds of the Fed cutting rates by 0.25% at its meeting next month fell from 100% to 95%, according to the CME Group, a derivatives exchange. At the Jackson Hole Economic Symposium next week, Fed Chair Jerome Powell is expected to lay out his vision of the economy.
The average 30-year fixed mortgage hit its lowest rate since October 2024 this week. The decrease wasn’t much—6.58%, down from 6.63% last week—but it represented a reprieve amid persistently high mortgage rates. The drop was related to bond yields creeping lower, which were in turn influenced by weak hiring data in the July jobs report. This might be more blip than trend for now, though. Mortgage Bankers Association Chief Economist Michael Fratantoni told the Wall Street Journal, “What I’ve told our members is to just sort of expect there are going to be these moments of opportunity. But don’t expect they’re going to last long.” For most of the year, mortgage rates have sat just below 7%, which has meant listings staying up longer and fewer qualified purchasers being interested.
The Trump administration might be considering buying a stake in Intel. In an exclusive, Bloomberg cited anonymous sources as saying, though plans are “fluid,” a deal in which the US government would take a stake in the chipmaker to help bring its long-sought plant in Ohio to fruition. While a White House spokesperson, responding to Bloomberg’s request for comment, said the deal was “speculation,” it would fit an emerging pattern of the federal government brokering industry deals, such as the “golden share” arrangement brokered with Nippon Steel and, more recently, the deal for the US to receive 15% of Nvidia revenue that comes from the sale of the H20 chip to China. The sources said a deal would be contingent upon Lip-Bu Tan remaining the CEO of Intel.—HVL
Robert Reich
Nine critical steps
Friends,
We have endured more than six months of the most despotic regime in American history.
Republican members of Congress have disgraced themselves and the nation by enabling it. They are traitors to the Constitution, the rule of law, and American democracy.
What of the Democrats? Individually, some have shown real heroism. But as a party they are disunited, ineffective, seemingly afraid of their shadows. “Epsteingate” offers a chance for Dems to derail Trump for a time, but it is not a strategy.
At A Glance
World Humanoid Robot Games begin in Beijing.
Map shows levels of forever chemicals near your home.
Using probability to explain the Bermuda Triangle.
Time publishes first Girls of the Year list.
The benefits of 7,000 daily steps.
Woman finds natural diamond in Arkansas state park.
Check out rejected vanity plates.
The rise of carnivore babies.
Clickbait: Colorado's "Frankenstein bunnies"?
Historybook: Napoleon Bonaparte born (1769); Iconic chef and TV host Julia Child born (1912); Panama Canal opens (1914); Woodstock music festival begins (1969); Civil rights activist Julian Bond dies (2015).
In The NEWS
Sports, Entertainment, & Culture
> President Donald Trump announces 2025 Kennedy Center honorees, including KISS, Sylvester Stallone, George Strait, Gloria Gaynor, and Michael Crawford; says he was involved in selection, will present awards in December (More)
> University of Kansas receives $300M gift from US businessman David Booth, thought to be among the largest single donations in college sports history (More)
> The 77th Emmy Awards winners announced in select categories; Beyoncé wins first Emmy for costume design for Netflix's "Beyoncé Bowl" NFL halftime special (More)
Science & Technology
> US officials embed GPS trackers in various shipments of advanced AI chips to monitor illegal diversions of shipments to China, reports suggest (More)
> Passively powered flying devices can reach 45 miles above Earth, allowing researchers to study the mesosphere; atmospheric layer is too high for weather balloons but too low for satellites (More) | Visualize planet Earth, from core to atmosphere (1440 Topics)
> Physicists use sound waves to store quantum information; new approach can store quantum memory for 30 times longer than conventional techniques (More) | Explore the best resources we've found on quantum mechanics (1440 Topics)
Business & Markets
> US stock markets close up (S&P 500 +0.3%, Dow +1.0%, Nasdaq +0.1%); S&P 500 notches record high as investors bet on potential interest rate cuts (More)
> CoinDesk owner Bullish shares close up more than 83% in NYSE debut, valuing the cryptocurrency exchange at roughly $10B; Bullish launched in 2021 and is backed by tech billionaire Peter Thiel (More)
> US tariff revenue reaches fresh monthly record of nearly $28B in July, up from $8B a year ago; US budget deficit grew to $291B last month (More) | How much federal revenue comes from tariffs (More) | Who pays for tariffs? (1440 Topics)
Politics & World Affairs
> Germany and allies pledge up to $500M in military aid to Ukraine via new NATO supply line (More) | President Donald Trump tells Ukrainian President Volodymyr Zelenskyy and European leaders he will push for a ceasefire in tomorrow's meeting with Russian President Vladimir Putin in Alaska (More)
> Prosecutors seek retrial for a rape charge in Hollywood producer Harvey Weinstein's New York sex crimes case, leaving Sept. 30 sentencing for a separate sexual assault charge in limbo (More)
> Air Canada suspends most flights through Saturday due to an ongoing labor dispute with its flight attendant union; cancellations are expected to impact approximately 130,000 passengers each day (More)
SOURCE: 1440 NEWS
Our Working Futures
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Obviously, to make money... but, isn't there oftentimes more to it than just that?
We work:
- to survive
- to get out of the house
- to have a career
- to contribute to society
- to raise a family
- to acquire more
- to go on vacations
What do you think it would be like if we did not have to work?
- We would get bored
- We might get into trouble
- We would get lazy
- We would become depressed
- We might rely on drugs
- We would have more children
- We would always be in the lower class
- We would complain
I am sure there are other negatives to mention but I just wanted to give you an idea of where I was going.
Would there be in pros to not working?
Yes, there would.
- We would have lots of free time
- We could explore hobbies
- Spend more time with family and friends
- We could spend time with a vege garden
- We could spend more time exercising
Again, these are just a few... you probably have other ideas and/or suggestions.
Why am I writing about this?
Because...
when humanoid robots arrive and take our jobs, most of us will be without a source of income unless our government provides us with a guaranteed minimum income, after unemployment insurance expires.
This minimum income will allow us to pay bills but have very few extras that work wages allowed us to buy.
The fact of the matter is that ROBOTS are coming and I believe it will be sooner than later and we all need to prepare ourselves for that eventuality.
You federal, state, and local leaders CAN NO LONGER STOP THIS FROM HAPPENING.
“Ancient Egypt’s Water Dam Just Changed Pyramid History”
In the arid expanses of the Egyptian desert, recent discoveries are revolutionizing our understanding of ancient engineering. Excavations around the Pyramid of Djoser have unearthed a sophisticated water management system, challenging long-standing beliefs about how the builders of the Old Kingdom achieved such monumental feats.
This intricate network of dams, basins, and shafts reveals a level of technical sophistication that suggests a profound understanding of hydraulic engineering. These findings compel historians and archaeologists alike to rethink the technological capabilities of ancient Egyptian civilization and its capacity for innovative problem-solving.
Thursday, August 14
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