Hanno Lustig warns of turbulent times, high government deficits and the new power of the bond markets. Yield on the ten-year US government bond is almost five percent, after it was almost four percent a few months ago. The U.S. federal government is projected to run a primary deficit by 2053. Since March 2022, the Federal Reserve has signaled it …

Biden administration wants to negotiate the prices Medicare pays for the blockbuster weight-loss drugs Ozempic and Wegovy. The announcement kicks off the second round of a new Medicare initiative aimed at lowering prescription drug prices. The first round of negotiations will result in an estimated $6 billion in initial savings. The new, negotiated prices for the drugs are set to …

The Palisades and Eaton Fires have destroyed over 40,000 acres and destroyed more than 10,000 structures in Los Angeles. 27 people have died and 36 are missing as a result of the fires. Over 170,000 people were forced to evacuate their homes. Celebrities like LeBron James and Paris Hilton lost their mansions to the flames. The damage is estimated between …

The Republican-majority US Congress has been busy appointing pro-crypto lawmakers to key positions in the legislature. The majority of Congressional Republicans have shown themselves as proponents of a laissez-faire approach to regulation of cryptocurrencies. The site DoTheySupportIt tracks various representatives’ stances on crypto.

President Joe Biden commuted 2,500 sentences for nonviolent drug offenses on Friday. The president's son Hunter is among those to benefit. In December, he commuted the sentences for 37 out of 40 federal inmates on death row, converting them to life in prison without parole.

Beijing announced in recent months its most aggressive support measures in years in a bid to reignite an economy suffering from a prolonged property market debt crisis and sluggish consumer spending. Official figures showed the Chinese economy grew five percent in 2024. The GDP growth rate is the lowest recorded by China since 1990, excluding the financially tumultuous years of …

In 2023, El País asked British historian Peter Frankopan why people are pessimistic nowadays. According to him, good things happen and bad things happen, and we observe them through tinted glasses. In Europe, for instance, people complain about public services becoming sloppy, the economy going down the drain, the U.S. abandoning them in the face of Russian aggression, unfair Chinese …

There are raging wildfires in Los Angeles. California officials announced changes to the state's food assistance program, CalFresh, to aid affected families. CalFresh users in wildfire-impacted areas can now use their benefits to buy hot, prepared meals at grocery stores and authorized restaurants. The provision is active until February 8, 2025. For families who lost food due to power outages …

Brad Ehrhardt and Michael Viramontes were honored for their efforts to find a 60-year-old man with autism who had been lost overnight while the temperature dipped below freezing. The man had been reported missing from his home on Kilbourne Road about 9 p.m. Nov. 29. Several agencies searched unsuccessfully for six hours before temporarily ending the search. The next morning, …

Mike Pence is in Taipei as a special guest at the signing of an agreement between the Taipei Language Institute and the US Purdue Research Forum. He is also in Hong Kong to speak at a business forum. He urges Donald Trump's administration to maintain support for Taiwan against the threat of Chinese annexation.

Mark Zuckerberg announced last week that he is pulling his company out of the fact-checking business and curtailing content moderation on Meta's platforms. The company will adopt a system similar to X’s Community Notes function, which crowdsources the work of debunking false claims. Lawmakers should consider requiring social media companies to be more transparent about their algorithms.

Russia's refined fuel exports have surged to their highest level in nearly a year. Seaborne shipments of Russian petroleum products hit an 11-month high, averaging 2.5 million barrels per day in the first ten days of January. US and UK imposed new sanctions on Russia's energy sector last week. The measures targeted major Russian oil companies and vessels.