To The Moon

News and my muse - Layoffs at Xiaomi, Student debt, PMI keeps falling, Xiaomi India undergoes reshuffling, major layoffs bring employees down to 1,000 Over half of all new cars sold in the U.S. by 2030 are expected to be electric vehicles. That could put a major strain on our nation’s electric grid, an aging system built for a world that runs on fossil fuels. The Supreme Court’s decision to strike down President Biden’s mass student-debt cancellation plan thrusts borrowers back into a repayment system that millions had hoped they would never see again. Nvidia warned Wednesday that if the US imposes new restrictions on the export of AI chips to China, it would result in a “permanent loss of opportunities” for US industry. When the Chinese see concerns in the market, the mode is switched from more spending to more savings. As of 31 May 2023, the total outstanding amount of all advances under the BTFP was $107,376,686,000. As of 30 April 2023, the total outstanding amount of all advances under the BTFP was $83,061,693,000. The increase is $24.3B. *U.S. JUNE ISM MANUFACTURING PMI FALLS TO 46.0; EST. 47.2; PREV. 46.9 *LOWEST SINCE MAY 2020 APOLLO: “Cellphone traffic in downtown San Francisco is now at 29% of pre-pandemic levels. For Chicago, it is 56%, and for New York City, it is 71%. The data compares the week of April 10, 2023, with the corresponding week in 2019.” [Slok] With the coming failure of the USD, crypto looks likely to be the alternative. Though I have my concerns about the lack of adequate regulations, security & governance, I do think that this asset class is too big to be ignored or denied. bankruptcy on the rise “The strength of the nation is not in its military but its economy” - Jamie Dimon Have a divine discontentment - Jeff Bezos At 265.2% gross leverage, hedge funds are the most exposed to markets in five years, adding to that leverage last week as it increased 2.5%. Source: JP Morgan Indian refiners have begun paying for some oil imports from Russia in the Chinese yuan as an alternative to the US dollar for settling payments, according to media reports. Experts highlighted the move as a step toward the de-dollarization process in the three major economies amid the yuan’s increasing internationalization and efforts to fight dollar hegemony. On Monday, Saudi Arabia said it would extend the 1-million-barrel-per-day production cut it had initially flagged for July into August, while Russia announced a 500,000 barrel-per-day decline in exports next month. The World Meteorological Organization estimated that there’s a 90% probability of the El Niño event persisting through the second half of the year and it is expected to be “at least moderate strength.” “Almost all participants judged it appropriate or acceptable” to hold rates steady given how quickly the Fed has raised rates and because those moves take time to influence economic conditions, FOMC minutes said. Markets Ignore the Looming Debt Peril The U.S. economy has been strong even as inflation has moderated. The weakest borrowers benefited because the most widely forecast recession in history simply refused to arrive. Prices of commodities like crude oil and iron ore have been sliding this year, underlining a continuing economic rout across the globe and possible recession risks, market watchers told CNBC. Data is said to be the new gold. Data reveals & confirms the trend. Data empowers business to better profile their customers & understand their needs. Data & energy are the commodities in the new AI driven economy. If we are not paying, we are the product, not the customer. Within the price lies hype, the lack of hype, fundamentals, moat and value. The lesser the hype, the better it is. The key to the hype is the speed of entry and exit. Avoid being the bag holder. ‌@TigerStars ‌ ‌$S&P 500(.SPX)$ ‌