Total U.S. Household Debt Soars to Record Above $13 Trillion

February 13th, 2018

Via: CNBC:

The American consumer is loading up on debt.

Total household debt rose by $193 billion to an all-time high of $13.15 trillion at year-end 2017 from the previous quarter, according to the Federal Reserve Bank of New York’s Center for Microeconomic Data report released Tuesday.


Israeli Police Recommend Bribery Charges Against Netanyahu

February 13th, 2018

Wake me up when this monster is prosecuted for war crimes.

Via: Reuters:

Israeli police on Tuesday recommended indicting Prime Minister Benjamin Netanyahu for bribery, opening the way for what could be the biggest challenge yet to the right-wing leader’s political survival.

In a detailed statement, police named Arnon Milchan, a Hollywood producer and Israeli citizen, and Australian businessman James Packer, saying that for nearly a decade, from 2007 to 2016, they gave gifts that included champagne, cigars and jewelry to Netanyahu and his family.

In all, the merchandise was worth more than one million shekels ($280,000), the statement said. Any legal proceedings would likely focus on whether political favors were sought or granted.

Netanyahu’s lawyers said the presents were simply tokens of friendship.


Hey Buddy, Can You Give Me a Hand?

February 12th, 2018

Via: Boston Dynamics:


German Court Rules Facebook Use of Personal Data Illegal

February 12th, 2018

Via: Reuters:

A German consumer rights group said on Monday that a court had found Facebook’s use of personal data to be illegal because the U.S. social media platform did not adequately secure the informed consent of its users.

The verdict, from a Berlin regional court, comes as Big Tech faces increasing scrutiny in Germany over its handling of sensitive personal data that enables it to micro-target online advertising.


The Economist: It Appears Market Conspiracy Theorists Were Right

February 12th, 2018

I wasn’t going to post this. It might have been newsworthy 20 years ago, but since people are submitting it, here you go.

Via: ZeroHedge:

Three new recently published scientific papers seem to confirm what many have claimed for years: the “efficient markets” are not only inefficient – from an informational standpoint – they are also badly rigged. Of the three papers, the Economist reports, one argues that well-connected insiders profited even from the financial crisis, while the other two go so far as suggesting the entire share-trading system is rigged.

Unlike conventional insider trading cases – which traditionally require fortuitous tip-offs and extensive, expensive investigations, involving the examination of complex evidence from phone calls, e-mails or informants wired with recorders – the papers make imaginative use of pattern analysis from data to find that insider trading is probably pervasive, according to the Economist.


The 11 Cities Most Likely to Run Out of Drinking Water – Like Cape Town

February 11th, 2018

Via: BBC:

Cape Town faces the unenviable situation of being the first major city in the modern era to run out of drinking water.

However, the plight of the drought-hit South African city is just one extreme example of a problem that experts have long been warning about – water scarcity.


Foxconn Unit to Cut Over 10,000 Jobs as Robotics Take Over

February 10th, 2018

Via: Nikkei:

Foxconn’s panel arm Innolux is planning to slash more than 10,000 jobs this year as part of the company’s aggressive efforts to increase the use of automation in manufacturing, said Honorary Chairman Tuan Hsing-Chien on Tuesday.

“We will reduce our total workforce to less than 50,000 people by the end of this year, from some 60,000 staff at the end of 2017,” Tuan said in a press conference.

Innolux is a liquid crystal display-making affiliate of major iPhone assembler Hon Hai Precision Industry, better known as Foxconn Technology Group. Tuan is also a technology adviser to Foxconn, Sharp and Innolux.


Israeli Jet Shot Down After Bombing Iranian Site in Syria

February 10th, 2018

Via: Reuters:

Anti-aircraft fire downed an Israeli warplane returning from a bombing raid on Iran-backed positions in Syria on Saturday in the most serious confrontations yet between Israel and Iranian-backed forces based across the border.

The F-16, one of at least eight Israeli planes despatched in response to what Israel said was an Iranian drone’s incursion into its airspace earlier in the day, was hit by a Syrian anti-aircraft missile and crashed in northern Israel, an Israeli official told Reuters.

Both pilots ejected and were injured, one critically.

Israel then launched a second and more intensive air raid, hitting what it said were 12 Iranian and Syrian targets in Syria, including Syrian air defense systems.

Lebanon’s Iran-backed Hezbollah group said the downing of the plane marked the “start of a new strategic phase” that would limit Israel’s ability to enter Syrian airspace.


Russian Nuclear Scientists Connect Airgapped Supercomputer to Internet to Mine Cryptocurrencies

February 9th, 2018

*har*

Via: BBC:

Russian security officers have arrested several scientists working at a top-secret Russian nuclear warhead facility for allegedly mining crypto-currencies.

The suspects had tried to use one of Russia’s most powerful supercomputers to mine Bitcoins, media reports say.

The Federal Nuclear Centre in Sarov, western Russia, is a restricted area.

The centre’s press service said: “There has been an unsanctioned attempt to use computer facilities for private purposes including so-called mining.”

The supercomputer was not supposed to be connected to the internet – to prevent intrusion – and once the scientists attempted to do so, the nuclear centre’s security department was alerted. They were handed over to the Federal Security Service (FSB), the Russian news service Mash says.

“As far as we are aware, a criminal case has been launched against them,” the press service told Interfax news agency.


Stimulus Puts U.S. Debt On An Upward Trajectory

February 9th, 2018

Via: AFP:

As part of a pledge to “Make America Great Again,” President Donald Trump and Republican lawmakers are pursuing aggressive economic stimulus while slashing taxes at the same time.

The result, budget analysts say, is likely to be swelling debts and deficits for the world’s largest borrower.

America’s budget deficit was already on an upward trajectory, thanks to an aging population and rising health costs. But it is now poised to take off.

After December’s sweeping tax cuts, which are expected to cut federal revenues by $1.5 trillion over ten years, the budget deal Trump signed Friday calls for an additional $300 billion in defense spending over two years.

The White House and lawmakers have also huddled over a $1.5 trillion plan to upgrade the nation’s infrastructure, with perhaps several hundred billion in taxpayer funds contributed in a possible public-private partnership.


« Previous PageNext Page »