Taylor Swift’s wedding to Travis Kelce in Madison Square Garden in New York City was the talk of the town and was the top story on new sites, and was seen as, as our cover states, the opium for the masses easily distracted by celebrity gossip.
ECONOMIC UPDATE
U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu’s illegal Iran War that they launched against Iran on 28 February has inflicted severe economic damage across the globe, and now, with President Trump escalating the war, a very bad economic situation has – and will – become much worse.
U.S. IS PAYING $23.8 BILLION A WEEK IN INTEREST ON NATIONAL DEBT
During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.
IRAN: HORMUZ WILL NEVER BE REOPENED THROUGH WAR
A top Iranian commander said in a statement Tuesday that the Strait of Hormuz will never be reopened through military means and that the “aggressive and corrupt president of the United States must learn to respect international law, the rights of nations, and the dignity of peoples.”
ISRAEL RAMPS UP ATTACKS, DEMOLITION IN SOUTHERN LEBANON DESPITE BULLSHIT CEASEFIRE
Israel ramped up its attacks in southern Lebanon last week and showed no signs of withdrawing, despite claims from the Trump White House that progress had been made in the country.
THE FED IS NOT TRAPPED BY CRISIS. (IT IS EMPOWERED BY CRISIS).
When war expands, oil surges, markets crack, and fear enters the system.
GEN Z REVOLUTION: DEMOCRATIC SOCIALISTS IN THE U.S. SEE BIG GAINS WITH FOCUS ON COST OF LIVING
While issues like Israel and opposition to President Donald Trump have played key roles in propelling the successful campaigns of Democratic socialists in recent primary elections, the main driver, according to strategists and leaders of the movement, is how people are being priced out of life because of the increase in the cost of living.
Global Economy
SPECIAL REPORT: IRAN WAR THREATENS GLOBAL FUEL SUPPLIES
U.S. oil reserves increased by three million barrels during the week of 3 July but that was a proverbial drop in the bucket.
GLOBAL INFLATION WILL ACCELERATE, IMF FORECASTS
The renewed hostilities along the Persian Gulf are likely to accelerate global inflation, roil supply chains, and bog down financial markets, the International Monetary Fund (IMF) warned in an 8 July report.
GOING OUT OF BUSINESS TRENDS
The economic fallout from years of inflation, high borrowing costs, shifting consumer behavior, and mounting operational expenses continues to claim businesses across a wide range of industries.
U.S. Economy
U.S. IS PAYING $23.8 BILLION A WEEK IN INTEREST ON NATIONAL DEBT
During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.
FED OFFICIAL URGES AN END TO FORWARD GUIDANCE
The U.S. Federal Reserve’s Open Market Committee routinely offers “forward guidance” – an indication of how interest rates might change in the future – after its meetings.
The Iran War
U.S. AND IRAN LOCK HORNS OVER STRAIT OF HORMUZ
The U.S. and Iran carried out bombing attacks on each other’s assets last week, with both sides accusing the other of violating the memorandum of understanding (MOU) in the Strait of Hormuz, which has become the war’s top flashpoint.
TRUMP SAYS HE THINKS CEASEFIRE WITH IRAN IS ‘OVER,’ CALLS IRANIAN NEGOTIATORS ‘SCUM’
President Donald Trump told reporters last week during a NATO summit in Turkey that he believes the ceasefire between Washington and Iran is over after the Iranians carried out strikes on a commercial vessel in the Strait of Hormuz that did not receive permission to exit the waterway from Tehran.
U.S. CARRIES OUT FIRST STRIKES ON IRANIAN INFRASTRUCTURE SINCE THE SIGNING OF THE MOU
The U.S. last week carried out its first strikes on Iranian infrastructure since the signing of the memorandum of understanding (MOU), taking out railway bridges that connect Tehran to cities in the south, which angered Iranians because the strikes took place during the burial of Ayatollah Ali Khamenei.
Hi-Tech Science
TREATMENT RESTORES DEAD LITHIUM BATTERIES TO 95-PERCENT CAPACITY
Lithium, the precious metal of the electronic economy, stores more energy per volume than any other mineral, making it the choice for batteries that power everything from smartphones to drones to electric vehicles.
COMPUTER CHIP CAN AUTHENTICATE DEEPFAKES
AI technology has advanced to the point that deepfakes – completely made-up audios and videos of actual people saying and doing things they never really did – are virtually indistinguishable from reality.
BIOENGINEERS REPLICATE LIVING CELL
Bioengineers at the University of Minnesota have unveiled SpudCell, which has been described as “the closest researchers have come to building a living cell from scratch.”