Lee Ardis

Top Hedge Fund Firm: ‘Dishonest’ Officials Set World On Path To ‘Hyperinflation,’ ‘Societal Collapse’ Possible

One of the world’s largest and most influential hedge funds is warning that “dishonest” policymakers have set the world on the path to potentially the worst period of hyperinflation in modern history, which could result in “societal collapse.”

Elliott Management, a Florida-based firm founded by billionaire Paul Singer, said in a letter this week that an extraordinary set of rash policies during the coronavirus pandemic have “made possible a set of outcomes that would be at or beyond the boundaries of the entire post-WWII period.”

“Investors should not assume they have ‘seen everything’” just because they’ve lived through numerous other financial crises, the letter said, according to the Financial Times, the idea that “‘we will not panic because we have seen this before’ does not comport with the current facts.”

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Unemployment Spikes Upward As Economy Deals With Rate Hikes And Elevated Prices; Biden Reacts

The unemployment rate reached 3.7% in the month of October as payrolls rose by 261,000, according to a Friday report from the Bureau of Labor Statistics.

The health care sector saw the most robust employment gains, while professional services and manufacturing likewise witnessed notable increases. The hospitality industry continues to suffer most from labor shortages, with employment continuing to remain well below levels seen at the beginning of 2020.

Jobless rates have remained between 3.5% and 3.7% for much of the year. The most recent figures indicate a 0.2% uptick from levels recorded in September.

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As Biden Demonizes Republicans, Obama Warns ‘People Are Going To Get Hurt’ Amid ‘Demonizing’ In Politics

Former President Barack Obama warned on the campaign trail Tuesday that “demonizing” political opponents was going to cause people to “get hurt,” remarks that he made just a day before President Joe Biden demonized Republicans in an address to the nation.

The remarks from Obama come as Democrats have needed him on the campaign trail ahead of next week’s midterm elections due to Biden’s low approval ratings and the general dissatisfaction that many in the country have about how things are going, particularly the economy.

“This increasing habit of demonizing political opponents creates a dangerous climate,” Obama said at a Tuesday rally in Nevada. “Elected officials who do not explicitly reject or participate in over-the-top rhetoric, if that’s what they’re doing instead, if they just ignore or make light of that kind of violence, or if they encourage their supporters to stand outside voting places armed with guns and dressed in tactical gear, if that’s the environment that we create, more people are going to get hurt.”

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Trucking CEO Discusses Diesel Shortage, Says ‘Truckers Are Feeling The Hurt Right Now’

Companies are continuing to warn against the diesel fuel shortage and how it will affect the trucking industry moving forward.

South Carolina Trucking Association CEO Rick Todd recently spoke about the problems facing trucking businesses and the reasons behind the fuel shortage, as well as high costs.

“Truckers are feeling the hurt right now. Supply chain challenges just keep coming,” he said on Fox News, adding that truckers often essentially pay cash for gas and don’t get paid for several weeks or more.

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1,000-Page GOP Report Alleges Deep ‘Rot’ At Top Levels Of FBI, DOJ

House Republicans released an extensive report Friday on alleged FBI and Department of Justice abuses based on numerous press reports and interviews and accounts from whistleblowers.

The report is 1,050 pages long and claims there is “rot” at the top levels of the FBI, leading to a politicized law enforcement seemingly targeting conservative Americans. The report also claims that the bureau has failed to enforce laws on figures on the left, such as Hunter Biden.

“The Federal Bureau of Investigation, under the stewardship of Director Christopher Wray and Attorney General Merrick Garland, is broken,” the report begins. The “rot” at the FBI “festers in and proceeds from Washington.”

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Car Company Sells Russian Government All Operations For One Euro

Nissan announced on Tuesday that the company will sell all operations in Russia to an entity of the nation’s government.

As warfare between Ukraine and Russia escalates ahead of the winter months, the Japanese automaker announced that NAMI, a Russian government body dedicated to automotive industry development, is slated to acquire the firm’s business in the nation. Nissan, which will lose ¥100 billion, or $686 million, as the company is sold for €1, has the option to repurchase its operations within the next six years.

“On behalf of Nissan, I thank our Russian colleagues for their contribution to the business over many years,” Nissan CEO Makoto Uchida remarked in a statement. “While we cannot continue operating in the market, we have found the best possible solution to support our people.”

Nissan does not expect an impact on its full-year earnings guidance as a result of the sale since the company did not assume any activity in the market over the course of the fiscal year.

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FBI Whistleblower Leaks Document To Project Veritas Showing Agency Allegedly Labeling ‘Misinformation’ Under ‘Election Crimes’

Project Veritas shared an image on social media Thursday claiming an FBI whistleblower leaked a document showing the agency classified “misinformation” as an “election crime” ahead of the 2022 Midterm Elections next month.

According to the document, titled “2022 Midterm Elections Social Media Analysis Cheat Sheet,” election crimes include eight sections that fall under federal jurisdiction, ranging from campaign finance to voter suppression. The details inform federal authorities what to look out for leading up to the November 8 election.

However, federal authorities have included misinformation, which means false or misleading information spread mistakenly or unintentionally, as something that could lead to a full or grand jury investigation.

The document also lists “disinformation” as an election crime, which points to “false or inaccurate information intended to mislead others.”

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‘There’s No Such Thing As A Woman’: Man Crowned Glamour Brazil’s ‘Woman Of The Year’

Glamour Magazine Brazil announced the winners of their Generation Glamour awards this week, and the roundup of honorees featured two biological men, including an influencer named Linn da Quebrada, who brought home “Woman of the Year.”

Quebrada does not identify as a woman the way many trans-identifying men do. “I’m not a woman, I’m a transvestite,” he told Globo Television Network presenter Pedro Bial, according to Reduxx. “Let’s be honest, there’s no such thing as ‘a woman.’”

The prize winner justified his stance by listing several Portuguese words that have ambiguous or subjective meanings, which he believes is also true of the word “woman.”

Quebrada identifies as a gay man or a transvestite, a commonly used term in Brazil to describe men who dress like women but do not identify as women, according to Reduxx. The influencer became famous after appearing on “Big Brother Brazil.”

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Girl, Father File Suit Saying They Were Suspended For ‘Misgendering’ Boy In Girls’ Locker Room

A Vermont teenager and her father, a high school soccer coach, have sued after they were both suspended after calling a male student who identifies as a transgender girl “male.”

Randolph Union High School suspended Blake Allen and her father, Travis, prompting the lawsuit. After the lawsuit was filed, the school dropped Blake’s suspension. It is unclear if this was linked to the lawsuit or not.

“I was suspended because I voiced my opinion that a man shouldn’t be in the women’s locker room,” Blake Allen recalled. “A lot of my classmates were supportive; I think most people and the school are, they are just too scared to speak up because they see all the backlash I’m getting for it.”

“I made a social media post that referred to the male student as a male and I was punished because of it,” Travis Allen echoed. “Because I ‘misgendered’ him.” The school has claimed that the suspension was due to an incomplete background check for the coach.

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Latest GDP report shows US economy grew 2.6%, but recession risks loom

Call it the calm before the storm.

After shrinking the first half of the year, the U.S. economy rebounded from July through September despite inflation that has hovered near a 40-year high and sharply rising interest rates. But the performance likely marked reprieve ahead of next year’s projected recession rather than a sign of brighter outlook.

The solid showing was fueled by a more favorable trade balance and modest rises in consumer and business spending, offsetting another plunge in housing construction and weaker business stockpiling.

“The U.S. economy is undeniably cooling,” Gregory Daco, chief economist of EY-Parthenon, wrote in a note to clients.

The nation’s gross domestic product, the value of all goods and services produced in the U.S., grew at a seasonally adjusted annual rate of 2.6% in the third quarter, the Commerce Department said Thursday. Bloomberg had forecast a 2.3% rise in output.