‘THE FLOODGATES ARE OPEN’: The US government is set to begin an unprecedented borrowing binge

Akin Oyedele, provided by Published 12:01 pm, Friday, February 16, 2018 flickr / Doug Wertman The US government's funding needs are set to increase following the two-year budget agreement that will hike spending. And so, the Treasury has boosted the amount of short-term debt it sells. But this is "just the beginning," according to Jefferies. Recommended Video: Now Playing: The market turmoil - dubbed Wall Street Bloodbath - started last week and got worse on Monday. The trigger? The US Jobs report. According to the January data released last Friday, nonfarm payrolls grew by 200,000 in January and the unemployment rate was 4.1 percent. More importantly, average hourly earnings increased 2.9 percent year on year, the best gains since the early days of the recovery in 2009. So far, so good. So what happened? US consumer prices rose in December: overall inflation has risen 2.1 percent, while core inflation is up 1.8 percent. Francois Chaulet, Managing Director of Montsegur Finance said: "This signal which comes from the United States, signals a return to a level of inflation which we haven't experienced for a long time, a signal of the great health of the economy." US Federal Reserve has a dual mandate. The American Central Bank's governing council is deciding on the monetary policy based on two factors: inflation and maximum employment. Both indicators look good and therefore the Federal reserve could increase interest rates more quickly than previously thought. These concerns triggered the stocks sell-off. James McBride, Managing Director of The McBride Group said: "Typically or historically, if the Fed does raise interest rates too far, too fast, it does have a negative effect on the stock market." The Federal Reserve's new chair Jerome Powell was sworn-in right in the middle of the market turmoil. In a recorded statement Powell signaled that during his term the policies would largely mirror those of his predecessor. Media: Euronews In Continue Reading

SpaceX has received permission from the US government to launch Elon Musk’s car toward Mars

Dave Mosher, provided by Published 8:20 am, Monday, February 5, 2018 SpaceX/Flickr SpaceX plans to launch its Falcon Heavy rocket — the biggest in the company's history — for the first time on Tuesday. The company's founder, Elon Musk, is putting his own Tesla Roadster on top as a test payload. All rocket payloads need a permit from the Federal Aviation Administration, and the FAA granted SpaceX that permission on Friday. If the Falcon Heavy launch is successful, the car will be sent on a path out to an elliptical Mars orbit. CAPE CANAVERAL, Fla. — SpaceX is preparing to launch Falcon Heavy, the biggest rocket in the company’s history, for the first time this week. LATEST BUSINESS VIDEOS Now Playing: Now Playing This Tesla Competitor Will Build Its Electric Semi-Trucks in Arizona Fortune Facebook’s Switch to Local News Probably Won’t Solve Any Problems Fortune FOX Business Beat: Apple battery updates; Starbucks benefits Fox5DC Tesla Car 'on Autopilot' Crashes into Fire Truck Buzz 60 Ice Climber is First in the World to Scale 300m Frozen Waterfall Buzz 60 49ers' President: Ratings May Be Down, but Football Demand Is High Cheddar TV Your Super Promotes The Power of Superfoods with Powder Supplements Cheddar TV Customers Complain The New Chobani Yogurt 'Stinks' Veuer Huge Hype as Apple Opens First Store in South Korea Ruptly TV United and Delta Tighten Rules For Comfort Animals Veuer The 230-foot-tall, three-booster launcher is scheduled to blast off Tuesday between 1:30 p.m. - 4:30 p.m. ET. SpaceX says Falcon Heavy is currently the most powerful rocket in the world. This week’s launch is a test that SpaceX founder Elon Musk wanted to happen as early as 2013, though he recently said it could end in an explosion. Instead of putting a standard “mass simulator” or dummy payload atop Falcon Heavy, Musk — who once launched a Continue Reading

Apple responds to report that the US government is investigating the iPhone slowdown (AAPL)

Kif Leswing, provided by Published 8:09 am, Wednesday, January 31, 2018 Reuters The United States DOJ and SEC are reportedly investigating an Apple software update with a power management feature that can slow down older iPhones.  Apple says it's aware of government agencies asking questions and is responding to them.  Apple said in a statement on Wednesday that it was responding to government agencies asking questions about a 2017 iPhone software update that slowed down older phones. The US Department of Justice and the Securities and Exchange Commission have started investigating Apple software updates because of the slowdown issue, Bloomberg reported on Tuesday. Local Channel Now Playing: Now Playing Pickup truck T-bones sedan on rural S.A.-area road, killing woman San Antonio Express-News Galveston PD releases image of 'Little Jacob' Galveston Police Department Man found covered in blood after crashing car into ditch San Antonio Express-News Man+killed+by+police+after+stealing+bike%2C+riding+onto+Loop+410 Jacob Beltran Police: Drive-by gunman fires 30+ rounds into home, strikes man San Antonio Express-News Woman killed as firefighters battle flames for hours San Antonio Express-News SAPD: Man catches 2 suspect breaking into car on West Side, opens fire Caleb Downs Kawhi Leonard's Relationship with Spurs Is Just Fine, According to His Uncle Sports Illustrated Shots fired call near Alamo Heights prompts large police presence Fares Sabawi UTEP athlete, SA native snubbed @lamTre_/ Twitter Apple says the reason for the software feature is to prevent unexpected iPhone shutdowns, not to encourage users to update to a newer iPhone. A phone with the feature turned on can take longer to launch apps and can display lower frame rates, but it's also less likely to randomly reboot.  "As we told our customers in December, we have never — and would never — do anything to intentionally Continue Reading

Some economists want the US government to put up to $50,000 in ‘Baby Bond’ bank accounts

Chris Weller, provided by Published 10:13 am, Wednesday, January 10, 2018 Yuriko Nakao/Reuters Two economists have proposed an idea for "Baby Bonds," a one-time deposit into a child's bank account at the time they're born. The program would help create upward mobility and reduce inequality in the US, they claim. Rich families would receive around $500 while poor ones would receive up to $50,000. Hamilton and Darity, both economists, say these "Baby Bond" accounts could go a long way toward reducing inequality in the US, where a raft of research has found academic achievement is directly tied to familial wealth. Local Channel Now Playing: Now Playing San Antonio's Confluence Park seen from the sky mysa Woman hit by driver after running into North Side street mysa Mayor and others discuss the symphony's new schedule mysa Natural gas explosion at South Side motel hospitalizes 2 with severe burns mysa This tamale-making hack may change your next tamalada mysa Dog caught in middle of family's New Year's Eve fireworks mysa San Antonio child sings 'Remember Me' from Coco in heart-wrenching tribute to baby sister mysa Well-known San Antonio cook gunned down on his front porch, suspect at large mysa Man found dead in rollover wreck at busy S.A. intersection mysa Woman killed in fiery rollover crash on U.S. 281 mysa "The key ingredient of how successful you will be in America is how wealthy your family is," Hamilton, an economist at the New School, told Heather Long of the Washington Post. The solution Hamilton and Darity presented at the recent American Economic Association conference was a federal government program that deposits between $500 for ultra-rich families, and $50,000 for extremely poor families, in an account they can't touch until the child turns 18. Hamilton and Darity expect the average amount to fall somewhere around $20,000. The two men claim such a program will cost approximately $80 billion, or 2% Continue Reading

The secret airline run by the US government is hiring

Rachel Gillett, provided by Published 12:52 pm, Monday, January 8, 2018 Now Playing: “Thanks for flying Janet Airlines and enjoy your stay at Area 51.”That’s the line you should be practicing right now if you have any interest in the following job. Josh King has the story (@abridgetoland). Media: Buzz 60 Forget secret agent. If you want one of the most exclusive, top-secret jobs about there, consider becoming a flight attendant. JANET airlines, the secret airline run by the US government, is hiring flight attendants to shuttle employees and contractors out of a private terminal at McCarran National Airport in Las Vegas to their jobs in places like Area 51. As Business Insider previously reported, while some joke JANET stands for "Just Another Non-Existent-Terminal," it may actually mean "Joint Air Network for Employee Transportation." ALSO READ: What's wrong with U.S. airlines' economy class?  The JANET airlines hires will perform all the usual flight attendant tasks including providing food and drink service, giving pre-flight safety demonstrations and ensuring passenger safety throughout the flight, and providing assistance during emergencies. And like flight attendants working for other airlines, JANET flight attendants must have a high school degree or the equivalent diploma, pass flight attendant training, and comply with the airline's dress code and uniform guidelines, among other things. But JANET airline flight attendants bear the additional burden of qualifying for and maintaining a top secret government security clearance and associated work location access. According to the US State Department's website, "top secret" is the highest level of security clearance, and having this clearance gives you access to classified national security information. window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: Continue Reading

The US Government brutally laid out the magnitude of the Intel processor vulnerabilities that affect almost everyone (INTC, MSFT, AAPL, GOOG, GOOGL, AMZN)

Matt Weinberger, provided by Published 12:26 pm, Thursday, January 4, 2018 On Wednesday, Google and Intel disclosed "Meltdown" and "Spectre," two ways to exploit Intel, AMD, and ARM processors and get access to confidential data. CERT/CC, a federally-funded cybersecurity research team, says the only way to really eliminate the threat "requires replacing vulnerable CPU hardware." But there aren't many high-powered, modern processors that don't use the technology that makes processors vulnerable to Meltdown and Spectre in the first place. "Meltdown" and "Spectre" — two massive security vulnerabilities in Intel, AMD, and ARM processors that affect almost every PC, tablet, and smartphone on the planet. Local Channel Now Playing: Now Playing This tamale-making hack may change your next tamalada mysa Dog caught in middle of family's New Year's Eve fireworks mysa San Antonio child sings 'Remember Me' from Coco in heart-wrenching tribute to baby sister mysa Well-known San Antonio cook gunned down on his front porch, suspect at large mysa Man found dead in rollover wreck at busy S.A. intersection mysa Woman killed in fiery rollover crash on U.S. 281 mysa Video of San Antonio dad's Christmas hover board accident goes viral on social media mysa Summers enjoying trip home with TCU Bexar County identifies woman killed in deputy involved shooting Fox7 San Antonio hospital offers needed treatment for critically-ill man KRIV A short, but brutal, security update from the Computer Emergency Response Team Coordination Center (CERT/CC) lays out exactly how hard these vulnerabilities are going to be to fixed. Stamping out this issue once and for all will require drastic measures, says CERT. "The underlying vulnerability is primarily caused by CPU implementation optimization choices. Fully removing the vulnerability requires replacing vulnerable CPU hardware," says the bulletin. The word of CERT/CC carries a lot of weight: Continue Reading

These Kids Are Suing The US Government To Fight Climate Change. Will It Go To Trial?

Twenty-one young people are suing the US government for contributing to climate change in violation of their constitutional rights. But the Trump administration is trying to keep the landmark lawsuit from going to trial.What happens next will depend on the US Court Appeals for the 9th Circuit in San Francisco, where a three-judge panel heard arguments from both sides of the case before a crowded courtroom on Monday.On one side was the Department of Justice, alleging this case is so “unprecedented” and “extraordinary” in its demands on the federal government that it should be dismissed. “This case is on a collision course with the executive branch,” Eric Grant, deputy assistant attorney general, said on Monday.The case was supposed to be going to trial in February. But the Justice Department successfully petitioned this federal court to temporarily pause that timeline to review that decision.“We are grateful that the Court promptly scheduled this petition for oral argument and we await the Court’s resolution of this important matter,” Mark Abueg, a spokesman for the Justice Department, wrote in an email to BuzzFeed News.The plaintiffs, represented by the group Our Children’s Trust, argued that they deserve a chance to make their case in court. The US government, they claim, has violated their constitutional rights to life, liberty, and property for supporting activities that contribute to climate change, such as drilling for oil and gas on public lands. They are asking the court to order the government to craft a plan to reduce the country’s emissions from fossil fuels.“We simply ask the court to lift the temporary stay and send it back to the district court so that these young people can go to trial and present their historical and scientific evidence and make their case,” Julia Olson, executive director of Our Children's Trust, told the judges on Monday.Two of the three judges raised Continue Reading

September 7, 1979: Chrysler Asks the US Government for a Bailout

Readers for whom the phrase “financial crisis” can only mean one thing that happened at one particular time, in September 2008, may not realize that “the auto bailout” could refer to something other than the subsequent federal rescue of the American automotive industry in 2009. On this day in 1979, the United States government bailed out the Chrysler Corporation with $1.5 billion of loan guarantees. Establishment figures of left and right were united in supporting the bailout, as they largely would be again for the bank bailouts of 2008, and in both cases it was this fact, more than anything else, that raised The Nation’s suspicions. Why do Lee Iacocca, Ralph Nader, Ronald Reagan, Douglas Fraser and Edward Kennedy all support the bailout of the Chrysler Corporation? Why do liberals and conservatives alike wring their hands over the Last Days of the Auto Industry? The ranks of the left, the right and the center have closed behind the flagship of U.S. industry. Taxpayers are asked to condone the diversion of precious public revenues into corporate coffers, consumers are asked to pay inflated prices for inferior vehicles and auto workers are persuaded to accept wage, benefit and job cuts, all for the sake of rescuing the American auto industry from the consequences of its own mismanagement…. The United States has been handed a reindustrialization policy that is of, by and for the industry. But corporate welfare policy based on the premise that what is good for Chrysler, Ford and G.M. is good for the country neglects the public’s welfare. The lesson is that the failure of U.S. industry derives from the failure of corporate-government policies that equate the interests of the American citizen with political and economic control by large corporations. September 7, 1979 To mark The Nation’s 150th anniversary, every morning this year The Almanac will highlight something that happened that day in history and how The Continue Reading

The US Tells Other Countries to Respect Unions—Shouldn’t the US Do the Same?

It should not be hard to organize a union. And a worker certainly should not lose her job for supporting a union organizing drive. That’s a principle long embraced by leaders of the United States when they speak on the international stage. The United States formally embraces and supports the Universal Declaration of Human Rights, which declares, “Everyone has the right to form and to join trade unions for the protection of his interests.” When that document was drafted by in 1947, former first lady Eleanor Roosevelt (a key player in the process) wrote, “The United States delegation considered that the right to form and join trade unions was an essential element of freedom. While other associations had long enjoyed recognition, trade unions had met with much opposition and it was only recently that they had become an accepted form of association. The struggle was, in fact, still continuing, and her delegation thought, therefore, that specific mention should be made of trade unions.” Decades later, the United States continues to adhere to this view—at least officially. While the just-announced Trans-Pacific Partnership deal is flawed on many levels, it includes language that requires countries such as Vietnam to recognize and respect the right to form independent trade unions. Yet, while the US government tells other countries to respect the right to organize unions and collectively bargain, those rights have been under assault here. And the assault does not just take place in states led by anti-labor zealots such as Wisconsin Governor Scott Walker or Ohio Governor John Kasich. Just ask Allysha Almada, a nurse who has drawn national attention because of the allegation that she was fired from Huntington Hospital in Pasadena, California, in retaliation for her support of a California Nurses Association/National Nurses United effort to organize a union at the facility. “I was fired for speaking out in my workplace to Continue Reading

DHS Bans Use of Kaspersky Lab Software in US Government

By: James Rogers WH Lays Out Case for Why DOJ Should Consider Prosecuting James Comey Study: 91 Percent of Trump News Coverage Over Summer Was Negative The Department of Homeland Security has instructed federal agencies and departments to stop using products from Moscow-based cybersecurity firm Kaspersky Lab.Officials say that the prominent company poses a threat to U.S. national security and have given government agencies and departments 90 days to get rid of Kaspersky Lab software.“The Department is concerned about the ties between certain Kaspersky officials and Russian intelligence and other government agencies, and requirements under Russian law that allow Russian intelligence agencies to request or compel assistance from Kaspersky and to intercept communications transiting Russian networks,” DHS officials said, in a statement on the “Binding Operational Directive” to agencies and departments. “The risk that the Russian government, whether acting on its own or in collaboration with Kaspersky, could capitalize on access provided by Kaspersky products to compromise federal information and information systems directly implicates U.S. national security,” it added.The DHS is instructing departments and agencies to identify any use Kaspersky products on their information systems in the next 30 days and to develop detailed plans to remove the software in the next 60 days. Unless directed otherwise by DHS based on new information, agencies and departments have 90 days from the date of the directive to discontinue use of Kaspersky Lab products.The directive suggests the U.S. government puts some credence in reports that the popular antivirus company, and its founder Eugene Kaspersky, have close ties to Russian intelligence services.Sen. Jeanne Shaheen, D-N.H, has been pushing to prohibit the federal government from using the firm’s products. In a New York Times column earlier this month, Shaheen warned that the Continue Reading