Economy
Companies unexpectedly cut 301,000 jobs in January
Private payrolls fell by 301,000 for the month, well below the Dow Jones estimate for growth of 200,000 and a marked plunge from the downwardly revised 776,000 gain in December. It was the first time ADP reported negative job growth since December 2020.
Bonuses Rain on Wall Street Bankers in Biggest Payout in Decade
Not since the late 2000s, when lavish bonuses rained down before and after federal bailouts, have pay packages at U.S. investment banks swelled as much as they have right now.
National debt surpasses $30 trillion for the first time
America’s national debt just hit another sobering milestone.
Bank of England Raises Rates Again…First Time since 2004
The Bank of England raised its key interest rate for a second consecutive meeting, moving further ahead of other major central banks as they grapple with soaring inflation.
GoFundMe paused the fundraising page for the Freedom Convoy 2022 after it surpassed $10 million Wednesday
Before being suspended, the GoFundMe page for the Freedom Convoy 2022 made more than $10.1 million since having been established on Jan. 14. That amount far exceededthe amount raised by Canada’s major political parties last quarter.
Energy
Biden’s Warmongering Drives Pump Prices to Record Levels
The geopolitical risk premium rises and lifts crude prices (to 7 year highs) and wholesale gasoline prices.
Environment
Coming Soon: Climate Lockdowns
Climate lockdowns and other restrictions will be framed as saving the people of the United States, and the world, from themselves. What goal could be more noble? Anyone against such measures could be labeled a “climate denier” who stands against progress — or simply a “domestic terrorist.”
Health
Lockdowns had little or no impact on COVID-19 deaths, new study shows
Lockdowns in the U.S. and Europe had little or no impact in reducing deaths from COVID-19, according to a new analysis by researchers at Johns Hopkins University.
Austria Starts Criminalizing Vaccine Holdouts in Divisive Gamble
Multiple European countries have stigmatized people who refuse a vaccine, but Chancellor Karl Nehammer’s government is going further and will start criminalizing holdouts.
Resilience
Fertilizer Plant Ready to Explode, Will Impact U.S. Farmers
The fire comes as the fertilizer-grade ammonium nitrate market has been tight after a tumultuous 12 months. Hurricane Ida struck the heart of the U.S. fertilizer industry in late August, and an energy crisis in Europe curbed production. Tight markets have sent fertilizer prices to record high in late December and remain over 2008 highs.
Russian-Chinese Partnership on Display at Olympics
China and Russia each face U.S. efforts to bulk up alliances and other partners to counter their more assertive foreign and military policies in parts of the world Beijing and Moscow regard as their spheres of influence. The U.S. is rallying Japan, Australia, India and others across the Indo-Pacific to check Beijing, while it tries to bolster the North Atlantic Treaty Organization and other European partners against Russia’s renewed ambitions for influence.
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