Beware the ‘fiscal cliff’, Don’s much-improved ‘second honeymoon’ and other commentary

Rising Economic UncertaintyKevin L. Kliesen from the St. Louis Federal Reserve highlights that the increase in economic uncertainty from last spring to this spring is the steepest in nearly 40 years, complicating decision-making for both companies and consumers and potentially leading to recessions. Menzie Chinn from the University of Wisconsin illustrates this uncertainty with the example of potential homebuyers who, despite lower interest rates, may hesitate due to fears of falling home prices. Additionally, the...

The rotor system of the helicopter that crashed into the Hudson River, killing all six onboard, was recovered four days post-accident, aiding the NTSB's investigation. The pilot, Seankese "Sam" Johnson, was conducting a tour for a family of Spanish tourists when the helicopter went down on April 10, with video evidence showing it lost its tail and main rotor blades. Following the incident, New York Helicopter Tours has ceased operations, and the FAA is reviewing...

Kymberlee Schopper, 52, and Ashley Lelesi, owners of the Florida curio shop Wicked Wonderland, were arrested for selling human remains on Facebook Marketplace, facing charges related to human organs and tissue sales. Police began investigating after receiving a tip in December 2023, which included images of human bones for sale, and discovered the shop had been selling such items for several years, despite Lelesi's claim of unawareness about its legality. Following their arrest, Schopper was...

The Federal Emergency Management Agency (FEMA) has denied Washington state's request for $34 million in emergency relief funds to repair damage from a deadly bomb cyclone storm in November, as announced by Governor Bob Ferguson. Despite meeting all application criteria, the denial cited that assistance was "not warranted," prompting the state to plan an appeal within 30 days. The incident highlights ongoing concerns about FEMA's future and funding decisions, especially amidst discussions on restructuring disaster...

Meta's Antitrust Trial: Zuckerberg TestifiesMark Zuckerberg, CEO of Meta, testified in a significant antitrust trial initiated by the FTC in 2020, defending against claims of monopolistic practices following the acquisitions of Instagram and WhatsApp. The FTC argues that these purchases were made to eliminate competition, while Meta contends they improved user experience and growth. The trial, lasting two months, began with Zuckerberg addressing his past emails about Instagram's growth, asserting his focus was on its...

An organizer of pro-Palestinian protests at Columbia University, Mohsen Mahdawi, was arrested by immigration officials while attending an interview for his U.S. citizenship application. His lawyer claims the detention is a retaliatory act for his activism against the Israel-Gaza conflict, amid a broader crackdown on foreign students' rights during the Trump administration. Mahdawi, who has been a vocal critic of Israel's actions, is currently seeking legal protection to prevent his deportation, as other student activists...