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Items tagged with: Economy
Treasury Has an Internal Report Warning About the Dangers of an AI Bubble
Publicly, the Trump administration is bullish about AI. Privately, some of its analysts are weighing AI against the dotcom bust.Eric Katz (NOTUS)
"Southern Europe still battling wildfires as Spain declares national emergency in Madrid region"
#News #Politics #Europe #EU #Fire #USA #Economy #Climate #ClimateChange #Science #Spain #Disaster
euronews.com/my-europe/2026/07…
Southern Europe still battling wildfires as Spain declares national emergency in Madrid region
Spain has declared a national emergency as wildfires threaten the Madrid region, while France seeks EU help and Italy battles blazes across Sicily.Nathan Rennolds (Euronews)
RE: mastodon.social/@TinJar/116971…
A pathway for mass #migration as one way to address #climatechange -
1/
#Canada, #Russia, #Norway, and #China have a bit of a problem. But there is a potential solution, too!
Canada, Russia, and Norway depend a LOT on exporting #oil
China #exports a lot of everything, especially, #solar #batteries #EV
Chinese #population is shrinking and they seem to be frugal folks - which means domestic part of the #economy is going nowhere including #construction
TinJar (@TinJar@mastodon.social)
https://jacobin.com/2026/07/eu-mediterranean-immigration-refugees-violence These folks are trying to escape the deadly impacts of #climatechange - rather than helping them #EU #UK #Europe #US are putting up violent barriers which end up killing thes…TinJar (Mastodon)
The #Trump admin also pushed #Canada & #Mexico to adopt a prohibition on imports made by forced labor as part of prior #trade negotiations, & 10 other countries have committed to bans as part of trade deals negotiated over the past year, a senior admin official said.
But critics say the #US, too, has shortfalls on its labor protections. And some say that the admin has seized on forced labor as merely the most convenient way to reimpose #tariffs struck down by #SCOTUS [ya think?].
The #US has arguably the strongest restrictions on forced labor imports of any country. It has prohibited the importation of goods made with #SlaveLabor for nearly a century, though it still allows #PrisonLabor under conditions that labor organizations consider coercive. In 2021, under Biden, the US passed a #law banning imports from a region of China where it had found forced labor to be rampant.
#Canada, which will be subject to a 10% tariff under the arrangement, already prohibits importing forced labor goods. The #EU, also at 10%, has a ban that is scheduled to take effect in December 2027. But #Trump officials say that the governments have not effectively enforced those laws [like they actually care].
The duties will be issued under Section 301 of the #Trade Act of 1974, which allows a president to impose #tariffs on foreign countries that engage in unreasonable or discriminatory trade practices. The #Trump admin has cited the failure of foreign countries to pass or enforce laws banning the importation of goods made by forced labor into their own countries, saying that disadvantages US businesses that do follow such laws.
The move provides fresh evidence of Trump’s intention to transform #GlobalTrade, despite numerous #court challenges & the protests of #US #consumers & businesses that have been stuck with higher #tax bills. Over the past 17 months, the #Trump admin has cycled through #trade #law after trade law as it tries to build a system to shield the US #economy from foreign #competition [it’s called a #FreeMarket, pretty freaking American]
#Iran strikes on #CIA facilities prompt questions about possible #Russia role
Iranian drone attacks on CIA facilities in the Gulf have prompted #US #intelligence analysts to investigate whether Russia assisted by providing targeting information or ​advanced drone technology, said 4 people familiar with US intelligence.
#TrumpsWar #IranWar #war #Trump #Putin #InternationalLaw #law #Congress #WarPowers #geopolitics #NewWorldOrder #NationalSecurity #MiddleEast #economy
reuters.com/world/middle-east/…
#OpenAI says its #AI went #rogue and launched 'unprecedented' cyber-attack
source: bbc.com/news/articles/c3ek3gvd…
The #ChatGPT-maker said its agent - an AI #system which can operate alone after human instruction – was being tested in a controlled environment but, after finding weaknesses, was able to escape the test limits.They targeted #Hugging Face, one of the world's largest hubs for sharing AI models, gaining access to some internal company systems.
#news #cybersecurity #technology #test #security #economy #control #internet #problem #fail #hack #cyberattack #attack #skynet
"If you really want an "AI strategy" for your country, it should be this: wait for the bubble to burst, then buy hardware and talent at fire-sale prices in the wave of ensuing bankruptcies, and use them to extract more performance from free, open source models." - @pluralistic
Trump’s America can’t even win a rigged game (22 Jul 2026)
#AI #Tech #Economy
pluralistic.net/2026/07/22/tab…
A website to help selecting a #smartphone with a Google-free #Android
source: sustaphones.com
#news #google #googlefreeandroid #googlefree #android #phone #cybersecurity #security #surveillance #spy #tracking #help #choose #bigtech #technology #hardware #freedom #foss #floss #opensource #software #humanrights #economy
sustaphones
#Hollywood appropriates a #meme that’s part of the public domain, markets it, and then sues others for #copyright infringement. Can capitalists still think logically despite their #greed, or is that impossible?
source: thewrap.com/creative-content/m…
#news #entertainment #cinema #meme #popculture #philosophy #ethics #justice #fan #fanfiction #fans #movie #backrooms #creepypasta #fail #economy #capitalism #matrix #a24 #law #system #politics #business #publicdomain #internet #problem
@pluralistic on the AI bubble.
#AI #ArtificialIntelligence #AIBubble #economy #Nvidia #OpenAI #Anthropic #Microsoft #Oracle #Google #ElonMusk #Grok #capitalism #grift
Link to the original research studying 50 years of tax cut in 18 countries.
"The Economic Consequences of Major
Tax Cuts for the Rich"
"We find that major reforms reducing taxes on the rich lead to higher income inequality as measured by the top 1% share of pre-tax national income.
The effect remains stable in the medium term.
In contrast, such reforms do not have any significant effect on economic growth and unemployment."
It's called FACTS.
"“trickle-down” economics — a concept pushed by Republican to justify slashing taxes on the wealthy — have only benefited the rich and worsened economic inequality while failing to decrease unemployment or grow the economy."
"A paper from the London School of Economics and Kings College’s London, looked at the effect of 50 years of tax cuts for the wealthy in 18 developed countries: the concept has always been flawed."
salon.com/2020/12/27/50-year-s…
#economy #republicans #taxtherich #trickledown
50-year study of tax cuts on wealthy shows they always fail to "trickle down"
Tax cuts for the rich increase inequality and don’t grow the economy or decrease unemployment, research shows consistentlyIgor Derysh (Salon.com)
#GlobalEconomy, Hit by #IranWar & #Inflation, Faces Sharp Slowdown
The #IMF projected world output growth would fall to 3% for the year, a number pushed down by high commodity prices.
#TrumpsWar #idiocracy #kakistocracy #Trump #Netanyahu #InternationalLaw #law #Congress #WarPowers #geopolitics #NationalSecurity #MiddleEast #economy #inflation #affordability #CostOfLiving #oil #energy #EnergyCrisis
nytimes.com/2026/07/08/busines…
#US revokes license that authorized sale of Iranian #oil
The US #Treasury Dept issued the 60-day license last month, waiving #sanctions on Iranian oil as part of an interim agreement to end the fighting between the 2 countries. Treasury officials did not immediately respond to an AP inquiry on why the license was revoked.
#TrumpsWar #IranWar #Iran #war #Trump #law #WarPowers #geopolitics #NationalSecurity #economy #inflation #affordability #CostOfLiving #EnergyCrisis
apnews.com/article/iran-us-isr…
#US #economy added just 57,000 #jobs in June — far below expectations — amid elevated #inflation, global turmoil
US employers pulled back on hiring last month & added only 57,000 jobs, less than half the previous month’s total & a sign companies still have a cautious economic outlook.
#labor #CostOfLiving #affordability #trumpcession #recession #trump
apnews.com/article/jobs-econom…
The ruling is the most consequential case for the Fed’s future, for now fending off the politicization of an institution that’s responsible for being a technocratic steward of the #US #economy. In the end, the decision — which came months after the court struck down Trump’s sweeping emergency #tariffs — suggests that the longstanding principle of #independence for the #Fed was a line that not even #Trump could cross.
#SCOTUS allows #LisaCook to remain at #Fed in another loss for #Trump
The Supreme Court on Monday rejected Trump’s attempt to immediately fire #FederalReserve Governor Lisa Cook.
Chief Justice John Roberts wrote the opinion for a 5-4 majority.
#law #Independence #economy #democracy
cnn.com/2026/06/29/politics/li…
Yeah. Sure. Whatever.
#Iran & #US agree to halt attacks & renew “talks”
#TrumpsWar #IranWar #Trump #law #Congress #WarPowers #economy #MarketManipulation #InsiderTrading #NationalSecurity #geopolitics #MiddleEast #inflation #oil #EnergyCrisis
reuters.com/world/asia-pacific…
