Blue States Want US Billionaires To Have ‘Nowhere To Hide,’ But Will A Wealth Tax Ever Fly?
Lawmakers from seven blue states are joining forces, in a way, to address the country’s worsening wealth gap. California, Connecticut, Hawaii, Illinois, Maryland, New York, and Washington on Thursday announced a coordinated effort to tax the country’s wealthiest. The proposals vary to work around each state’s constitutional constraints, but what’s common is they target net […]
Are We Nearing The End of the Petrodollar? – With Peter Grandich
Peter Grandich, CEO of Peter Grandich & Company, returns to the Daily Dive in our latest edition. Peter sits down with us today to talk about what’s been happening with the US dollar, particularly the Petrodollar, how it impacts gold, and what he thinks is in store for it in the future — and what […]
OpenAI’s ChatGPT Passes Medical Licensure, Wharton MBA Exams
If ChatGPT were a real person, they would have been a medical doctor with a master’s degree in business. But in reality, the OpenAI’s ubiquitous chatbot is doing that for students instead. In a recent medical research study, it was found that ChatGPT “performed at or near the passing threshold” on the United States Medical […]
CoinDesk Is Up For Sale, But CoinDesk Seems To Have Missed The News
It is quite rare for the news outlet to be the subject of the news but crypto-focused media firm CoinDesk is looking for a buyer for the outfit. Charles Hoskinson, co-founder of the Cardano blockchain network, has stated that he is considering acquiring CoinDesk, stating that journalistic integrity in cryptocurrency and blockchain reporting must be […]
South American Common Currency Poses Another Threat To US Dollar… Or Does It?
Brazil and Argentina will announce this week that they will begin preliminary work on a common currency, yet again another stride of de-dollarization for major global economies. In a Financial Times report, the plan is reportedly set to be discussed at a summit in Buenos Aires, aimed at a developing a new currency to “boost […]
Tiny To Go Public Via Reverse Takeover Of WeCommerce
It appears that the founders of WeCommerce (TSXV: WE) are dissatisfied with the performance of the company since the go-public transaction that occurred back in late 2020. It was announced this morning that Tiny, the original founder of the company, will be reacquiring the software firm in what will effectively amount to a reverse takeover […]
CGX Energy Finally Spuds Wei-1 Well After Months Of Delays
After months of endless delays, CGX Energy (TSXV: OYL) is reporting this morning that it has finally managed to spud its next exploration well off the coast of Guyana. CGX, in partnership with Frontera Energy (TSX: FEC), has finally begun drilling out the Wei-1 well on its Corentyne block. Found 200 kilometres offshore from Georgetown, […]
Citadel Earns $16 Billion in 2022, Breaks Record for Annual Hedge Fund Gains
Ken Griffin’s Citadel is the top hedge fund of 2022 with a record profit of $16 billion for clients last year, according to LCH Investments’ annual ranking of the world’s top 20 hedge fund managers. Citadel’s 2022 gain marks an all-time record for a hedge fund firm, and it outranks John Paulson’s record of $15 […]
US Households Now Spend 30% of Their Income on Rent, the Highest in 20 Years
Soaring mortgage rates are keeping United States households from buying their own houses and are pushing demand for rentals, thus driving rates higher. The national rent-to-income (RTI) ratio rose to 30%, the highest in over 20 years that Moody’s Analytics has been tracking data, and up 1.5% year on year, and 0.2% from the third […]
Apple: Canaccord Lowers Price Target On Expected iPhone Demand Drop
As the economy comes to a halt, consumers become more cautious with their wallets. Analysts have started to note demand changes in a number of consumer staples by watching and checking the wait time on several items. In a Canaccord Genuity Capital Markets note, they take aim at Apple, Inc (Nasdaq: AAPL), slashing their price […]