These days in the stock casinos, it’s a whipsaw market. With almost each passing day we get more sign of rising global inflation, countered by more oily words from the Fed, Team Biden, and the co-opted US mainstream meadia.

In Europe and Asia it’s more of the same. Rising evidence of the return of serious inflation followed by more oily words that we can safely ignore it, from “experts” and media that ought to know better.

Adding to the stock casino gloom, at least in London and in the rump-EU, increasing signs that the Greensill-Gupta-Cameron scandal, seems inevitably heading into a fraudulent ending.

Earnings reports and the Fed will test the market rally in the week ahead

Investors will see whether stocks carry their newfound momentum into the week ahead, as major retailers, including Walmart and Home Depot, report earnings and housing data dominates the calendar.

The Federal Reserve may also play a role. Minutes from its last meeting will be released Wednesday, and after April’s hotter than expected consumer and producer inflation, market pros will watch it closely.

Central bank officials are also scheduled to make comments, including Fed Vice Chairman Richard Clarida who speaks next Monday.

Stocks have been volatile. The rally on Thursday and Friday was unable to reverse the week’s heavy losses. The defensive consumer staples, financials and materials were on track for a positive week among major sectors. The worst performers were consumer discretionary, off about 3.7% for the week, and tech, which was down 2.2%.

Technology shares were among the best performers in Friday’s rally, up about 2.1%. Energy was the best performer, up more than 3%.

“Watch it with a certain amount of trepidation,” said Art Hogan, chief market strategist at National Securities. “It’s not like the things that spooked us this week, like inflation, are going away...I think the fact we bounced at the end of the week is constructive.”

U.S. tariff review considers commodity shortages, inflation -official

May 14, 2021 10:49 PM By Trevor Hunnicutt

WASHINGTON (Reuters) - The Biden administration is weighing concerns about commodity shortages and inflation as it reviews trade tariff policy, the top White House economist said on Friday.

Strong demand for consumer goods and other products in a U.S. economy still scarred by the coronavirus pandemic have led to shortages in commodities from lumber to computer chips.

Asked whether tariff reduction would help solve shortages and inflation, Cecilia Rouse, chair of the White House Council of Economic Advisers, told reporters at a press briefing on Friday, “Our trade representatives are looking at all of these factors.” A spokesman for U.S. Trade Representative Katherine Tai did not respond to a request for comment.

Strong demand for commodities and the higher prices that have resulted are among the factors stoking fears of inflation.

The United States is the world’s largest importer of goods, at some $2.5 trillion in 2019, and any trimming of tariffs to alleviate shortages and high prices could have widespread repercussions. The United States currently levies average tariffs of 19.3% on imports from China and 3% on those from the rest of the world, according to the Peterson Institute for International Economics.

Import prices rose for a sixth straight month in April, lifting the year-on-year increase to 10.6%, the most since October 2011, Labor Department data showed on Friday.

Higher prices on cars, homes and computers, which eat away at incomes and could derail the economic recovery, have been one of President Joe Biden’s key concerns - along with controlling the pandemic - since he took office in January.

Yet his administration has so far largely stuck with taxes imposed by the Trump administration that add to the cost of goods, including steel and aluminum, imported from abroad. So far, the White House has dismissed signs of inflation as fleeting.

https://www.reuters.com/article/us-usa-trade-tariffs/u-s-tariff-review-considers-commodity-shortages-inflation-official-idUSKBN2CV2HD

Next by paying a $5 million ransom did Colonial Pipeline just encourage more ransomware attacks? Probably not.

Colonial Pipeline Paid a $5M Ransom—and Kept a Vicious Cycle Turning

Stopping payments would go a long way to stopping ransomware. But the choice is never quite so easy.

05.14.2021 07:00 AM

Nearly a week after a ransomware attack led Colonial Pipeline to halt fuel distribution on the East Coast, reports emerged on Friday that the company paid a 75 bitcoin ransom—worth as much as $5 million, depending on the time of payment—in an attempt to restore service more quickly. And while the company was able to restart operations Wednesday night, the decision to give in to hackers' demands will only embolden other groups going forward. Real progress against the ransomware epidemic, experts say, will require more companies to say no.

Not to say that doing so is easy. The FBI and other law enforcement groups have long discouraged ransomware victims from paying digital extortion fees, but in practice many organizations resort to paying. They either don't have the backups and other infrastructure necessary to recover otherwise, can't or don't want to take the time to recover on their own, or decide that it's cheaper to just quietly pay the ransom and move on. Ransomware groups increasingly vet their victims' financials before springing their traps, allowing them to set the highest possible price that their victims can still potentially afford.

In the case of Colonial Pipeline, the DarkSide ransomware group attacked the company's business network rather than the more sensitive operational technology networks that control the pipeline. But Colonial took down its OT network as well in an attempt to contain the damage, increasing the pressure to resolve the issue and resume the flow of fuel along the East Coast. Another potential factor in the decision, first reported by Zero Day, was that the company's billing system had been infected with ransomware, so it had no way to track fuel distribution and bill customers.

Advocates of zero tolerance for ransom payments hoped that Colonial Pipeline's proactive shutdown was a sign that the company would refuse to pay. Reports on Wednesday indicated that the company had a plan to hold out, but numerous subsequent reports on Thursday, led by Bloomberg, confirmed that the 75 bitcoin ransom had been paid.

https://www.wired.com/story/colonial-pipeline-ransomware-payment/?bxid=5cc9e09a3f92a477a0e84d6d&cndid=52110326&esrc=Wired_etl_load&mbid=mbid%3DCRMWIR012019%0A%0A&source=EDT_WIR_NEWSLETTER_0_DAILY_ZZ&utm_brand=wired&utm_campaign=aud-dev&utm_mailing=WIR_Daily_051421&utm_medium=email&utm_source=nl&utm_term=list1_p4

Colonial shipping at normal rates based on shipper nominations -spokeswoman

May 15, 2021 1:06 AM By Reuters Staff

DENVER, May 14 (Reuters) - The Colonial Pipeline is shipping at normal rates, based on nominations from shippers, a spokeswoman for the company said on Friday evening.

The pipeline, which supplies about 45% of the fuel consumed by the U.S. East Coast, restarted on Thursday after a disruptive cyber attack shut the system for six days. The outage has sparked panic buying and sent the average national gasoline price to its highest since October 2014.

https://www.reuters.com/article/usa-products-colonial-pipeline/colonial-shipping-at-normal-rates-based-on-shipper-nominations-spokeswoman-idUSL1N2N12YS

Ireland shuts down health IT system after ransomware attack

Issued on: 14/05/2021

Ireland's health authority said Friday it had shut down its computer systems after experiencing a "significant ransomware attack", a week after the largest US fuel pipeline network was also targeted.

The Irish attack was blamed on international criminals and was said to be targeting healthcare records, but officials said patient safety was not at risk.

"We have taken the precaution of shutting down all our IT systems in order to protect them from this attack and to allow us (to) fully assess the situation with our own security partners," the Health Service Executive (HSE) said.

"We apologise for inconvenience caused to patients and to the public and will give further information as it becomes available," it added, stressing Ireland's coronavirus vaccination programme was unaffected and "going ahead as planned".

Another ransomware attack last Friday forced the shutdown of the United States' largest fuel distribution system, leading to some panic buying at gasoline stations along the east coast.

Moscow has rejected US accusations that a Russia-based group was behind the cyber attack.

HSE chief executive Paul Reid said the attack in Ireland was "an internationally operated criminal operation", and the authority was working with police, the army and its major IT security providers.

"We are at the very early stages of fully understanding the threat," he told Irish broadcaster RTE, adding it was trying to "contain" the issue.

The Rotunda maternity hospital in Dublin said that "due to a serious IT issue", it was only admitting emergency cases and women who are at least 36 weeks pregnant.

Hospital chief Fergal Malone said the attack had targeted computers storing patient records.

Life-saving equipment is operating fine, "there's no problem for patient safety", and the hospital has switched to backup paper records, he told RTE.

"But obviously throughput will be much slower," he said, urging out-patients with routine appointments to stay away.

https://www.france24.com/en/live-news/20210514-ireland-shuts-down-health-it-system-after-ransomware-attack

A Toshiba business unit says it has been attacked by hacking group DarkSide, report says

Published Fri, May 14 2021 4:10 AM EDT

A division of Toshiba said on Friday that its European business has been hit by a cyberattack, according to a Reuters report.

Toshiba Tec France said in a statement seen by Reuters that it was hacked on the evening of May 4. by DarkSide, the same group the U.S. FBI blamed for the Colonial Pipeline attack.

The Toshiba unit, which sells self-checkout technology and point-of-sale systems to retailers, did not immediately respond to CNBC’s request for comment.

Toshiba Tec reportedly said that a “minimal” amount of work data was stolen in a ransomware attack. No leaks of the data have been detected so far and protective measures were put in place after the cyber-attack, the company said.

Ransomware is a type of malicious software that’s designed to block access to a computer system the victims pay the hackers a sum of money. It is not known if Toshiba Tec France has paid a ransom to the hackers.

https://www.cnbc.com/2021/05/14/toshiba-business-unit-says-it-has-been-hacked-by-darkside-reuters.html

Finally, is another massive international fraud about to surface? “Prosecutors are starting to circle Gupta, Greensill companies.”

If it is, and that seems all too likely, there are villains galore.

U.K. Probes Gupta for Fraud Over Greensill Financing

By Ellen Milligan, Lucca De Paoli, and Eddie Spence

14 May 2021, 10:08 BST Updated on 14 May 2021, 11:03 BST

· Greensill Capital U.K. also falls under money laundering probe

· Prosecutors are starting to circle Gupta, Greensill companies

The U.K.’s fraud prosecutor opened a probe into Sanjeev Gupta’s GFG Alliance over suspicions of fraud and money laundering in the magnate’s vast industrial empire.

The Serious Fraud Office is investigating “suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business,” according to a statement. The probe includes the financing arrangements with Greensill Capital UK Ltd.

Prosecutors are starting to round in on both Gupta and Greensill, after months of scrutiny from lawmakers and the media over its financing practices. Earlier this week, the U.K. Financial Conduct Authority said it was also investigating Greensill and cooperating with counterparts in other U.K. enforcement and regulatory agencies. It’s also working with German, Australian and Swiss authorities.

“GFG Alliance will co-operate fully with the investigation,” a GFG spokesperson said.

Grant Thornton, Greensill’s administrators, declined to comment.

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GFG has come under the microscope after the collapse of Greensill Capital in March revealed it had been a recipient of financing based on expected future invoices, for sales that were merely predicted. world of supply chain financing, Greensill’s original core business, which is considered very safe.

----The Serious Fraud Office is investigating “suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business,” according to a statement. The probe includes the financing arrangements with Greensill Capital UK Ltd.

“GFG Alliance will co-operate fully with the investigation,” a GFG spokesperson said.

More.

https://www.bloomberg.com/news/articles/2021-05-14/u-k-fraud-prosecutor-opens-investigation-into-gfg?srnd=premium-europe

Global Inflation Watch.

Given our Magic Money Tree central banksters and our spendthrift politicians, inflation now needs an entire section of its own.

More Than $1.3 Billion Worth of Art Sold This Week in NYC

And just 10 paintings added up to over $550 million.

By James Tarmy

14 May 2021, 17:22 BST

Change is in the air.

The auction market, long dominated by work made by White men, is demonstrating some semblance of market diversity—not only in what’s offered, but also by how much people are willing to pay.

“In a way, the headline this week is about diversity in so many ways,” says Bonnie Brennan, president for the Americas at Christie’s. “Not only in the artists themselves, but the [artworks’] medium, style, and price points.” Yes, she continues, there were solid results for established names, “but the more electric moments this week have been around newer and more emerging artists.”

Over the course of New York’s May auction week, several of the $15 million-plus artworks sold after just a few bids, while occasionally dozens of people vied for lower-priced works by artists who aren’t household names. “There were several lots from Tuesday and also from [Thursday] night, where you see the number of phone bidders in the teens,” Brennan says.

Enthusiasm at Christie’s on Tuesday night was particularly intense for work by Jordan Casteel (born in 1989), Nina Chanel Abney (1982), and Rashid Johnson (1977), whose Anxious Red Painting December 18th, which he completed last year, elicited “a volley of phone bidders in our sales room,” Brennan says. It sold, with premium, for $1.95 million, topping a high estimate of $300,000.

The next night at Sotheby’s evinced a similar energy. There was a seven-minute-long bidding war for Robert Colescott’s 1975 interpretation of Emanuel Leutze’s Washington Crossing the Delaware, titled George Washington Carver Crossing the Delaware: Page from an American History Textbook. It ultimately sold to the Lucas Museum of Narrative Art for $15.3 million, surpassing a high estimate of $12 million. And a work by Salman Toor, whose solo show at the Whitney Museum of Modern Art earlier this year was a must-see, sold for $867,000, over a high estimate of just $80,000.

Only on Thursday night at Christie’s was there protracted, truly dramatic competition for a work by one of the usual names: Bids for Picasso’s Femme Assise Près d'une Fenêtre (Marie-Thérèse), from 1932, began at about $54 million, then climbed steadily, buoyed by four separate phone bidders. Eventually it came down to two very determined collectors, who over the course of 19 minutes and 27 seconds pushed the final hammer price to $90 million. Auction house fees brought the total to $103.4 million, making it the fifth-most-expensive Picasso to sell at auction, according to the Artnet price database.

And indeed, for all the talk of diversity, the very top of the market remains unchanged: Picasso, Monet, Van Gogh, and Warhol still dominate the very pinnacle of prices. The only exception is Jean-Michel Basquiat, who died at the age of 27 in 1988.

Basquiat Mania

Basquiat is neither new to the market nor cheap. And yet, in less than 24 hours, no fewer than 11 bidders competed for two of his artworks.

At Christie’s on Tuesday night, at least six separate bidders were willing to pay north of $50 million for his 1983 painting In This Case, pushing its total to $93.1 million. At Sotheby’s on Wednesday, five bidders fought for Versus Medici (1982), pushing the painting to a hammer price of $44 million; auction fees, paid by the buyer, brought the total to $50.8 million, just past its high estimate.

“I think for the Basquiat market, [this week] changes the game,” says the dealer Christophe Van de Weghe. “He’s been selling to some very important collectors. These are rich individuals who don’t need the money. People are looking at Basquiat as one of the most important painters of the 20th century, and the prices certainly show it.”

Demand for Basquiat is global, Van de Weghe continues. “People from all over the world are interested in buying Basquiat. It’s a little bit like Picasso.”

In fact, it’s a lot like Picasso. Of the top 10 results from this week, he and Basquiat head the list. Check them out below.

https://www.bloomberg.com/news/articles/2021-05-14/more-than-1-3-billion-worth-of-art-sold-at-new-york-auction-week?cmpid=BBD051421_BIZ&utm_medium=email&utm_source=newsletter&utm_term=210514&utm_campaign=bloombergdaily

U.S. Shoppers Continued Stimulus-Fueled Spending in April

Retail sales were up for autos, dining out, while consumers pulled back on other goods purchases

Stimulus Checks Alone May Not Spur Inflation. Here’s What Could.

Updated May 14, 2021 10:43 am ET

Shoppers extended stimulus-induced spending in April, maintaining a level of retail sales from the prior month with increased expenditures on autos and dining out.

Retail sales—a measure of purchases at stores, at restaurants and online—overall were unchanged last month from March, the Commerce Department reported Friday. That kept spending at the same pace set by March’s upwardly revised 10.7% advance, which was influenced by government-stimulus money for most households.

“Flat sales going from March to April is still pretty strong. The level of sales is much higher than before the pandemic,” said Scott Brown, chief economist at Raymond James Financial. “It’s still a sign that consumer spending is pretty healthy at this point.”

Sales were up 2.9% at auto and parts dealers, where shortages in available cars have driven up prices, and 3% at restaurants and bars, a positive sign for the hard-hit industry as the U.S. economy more fully opens.

The leisure and hospitality sector, including restaurants, added 331,000 jobs in April, accounting for much of the country’s job creation last month. Commerce’s Friday report showed sales at restaurants and bars in April were just 2% lower than their levels in February 2020, just before the pandemic took hold in the U.S.

https://www.wsj.com/articles/us-economy-april-retail-sales-coronavirus-recovery-11620941526?mod=hp_lead_pos5

Covid-19 Corner

This section will continue until it becomes unneeded.

Singapore tightens virus curbs after infections spike

Issued on: 14/05/2021 - 08:12

Singapore announced a ban on dine-ins and cut group sizes to two people on Friday as it further toughened virus curbs to stem a rise in local transmissions.

After a partial lockdown and a rigorous regime of testing and contact tracing, Covid-19 had almost disappeared in the city-state, with authorities reporting hardly any local transmission in recent months.

But over the last few weeks cases have risen, with officials announcing several new clusters -- including one at the airport comprised of 46 cases, mostly among people working there.

Starting on Sunday, group sizes in public or when visiting homes will be restricted to two people, down from the currently allowed five.

Dining in at restaurants will be banned, and all employees who can work from home must do so, officials said in a news conference.

The measures, which will be in place until June 13, resemble those imposed during a partial lockdown last year during which the economy suffered its worst ever recession.

The rise in local transmissions will likely scupper a quarantine-free travel bubble between Singapore and Hong Kong, due to begin on May 26 after an earlier failed attempt.

---- Singapore had already reduced group sizes and closed gyms last week in an attempt to stop the surge in infections.

On Thursday, authorities banned non-passengers from entering the airport terminal and closed an adjacent mall as around 9,000 workers undergo testing.

The country had to fight serious coronavirus outbreaks last year when the illness surged through crowded dormitories housing low-paid foreign workers, infecting tens of thousands.

But by global standards, its outbreak has been mild -- officials in the city of 5.7 million have reported about 61,000 cases so far and 31 deaths.

https://www.france24.com/en/live-news/20210514-singapore-tightens-virus-curbs-after-infections-spike

Uruguay, once a coronavirus model, struggles against a deadly wave

Maite Fernández Simon May 13, 021

Gonzalo Alvarez, a player in Uruguay’s premier basketball league, started feeling the symptoms a few days after a game: fatigue, headaches, lower back pain, loss of taste and smell.

A test confirmed his suspicion: covid-19. But he wasn’t the only one. Five teammates, six opponents and an assistant coach in Defensor Sporting’s victory over Capitol last month also fell ill.

In the early days of the pandemic, Uruguay was a global model. Leaders in the progressive, stable, high-income nation united behind science-based measures to contain the spread of the coronavirus. Low case counts enabled it to reopen schools and businesses before many of its more virulent neighbors.

How tiny Uruguay has avoided the worst of the coronavirus

But now the nation of 3.5 million is trending in the wrong direction. For several days in April, Uruguay had the world’s highest daily case count per capita. More than 92,000 people were diagnosed with covid-19 during the month, 42 percent of the country’s total since the start of the pandemic. Authorities reported 1,642 deaths, more than four times the toll in March.

https://www.msn.com/en-us/news/world/uruguay-once-a-coronavirus-model-struggles-against-a-deadly-wave/ar-BB1gFfjG?ocid=uxbndlbing

Shallow graves and bodies in the river: Covid hits India's villages

Issued on: 14/05/2021

Coronavirus is raging in India's hinterland, where in some places bodies are being buried in shallow graves or given up to rivers and the sick have little hope other than herbal remedies and amateur doctors.

Kidwai Ahmad, from Sadullahpur village in Uttar Pradesh, a huge northern state, said the situation is "disastrous" with people dying all around his neighbourhood.

"There is so much poverty all around that people can't even afford decent cremations. They often tie big stones to the bodies and throw them in the river," he told AFP by phone.

"Others don't even bother with that and just throw the bodies in as they are. It has become common practice here," he added.

"Some are just burying their dead in shallow graves and not even waiting to see if crows or dogs feed on them."

In the past month no medical team has visited the village.

The sick are staying at home taking "herbal concoctions", Ahmad said. Clinics, if people can travel to them, are low on beds, medicines and oxygen.

"People have been left to die," he added. "This is the India which is hidden from everyone."

More than 100 corpses that have washed up on the banks of the river Ganges in recent days suggest the situation is equally dire elsewhere in the country.

In the district of Unnao, also in Uttar Pradesh, dozens of people have been buried in shallow sandy graves by the river.

Authorities announced on Friday they would dispatch patrols to the riverside to stop people disposing of their dead.

Locals say there is not enough wood for funeral pyres meaning they are forced to leave bodies in the river, but officials dispute there is a shortage.

https://www.france24.com/en/live-news/20210514-shallow-graves-and-bodies-in-the-river-covid-hits-india-s-villages

Next, some very useful vaccine links kindly sent along from a LIR reader in Canada. The links come from a most informative update from Stanford Hospital in California.

World Health Organization - Landscape of COVID-19 candidate vaccines. https://www.who.int/publications/m/item/draft-landscape-of-covid-19-candidate-vaccines

NY Times Coronavirus Vaccine Tracker. https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html

Stanford Website. https://racetoacure.stanford.edu/clinical-trials/132

FDA information. https://www.fda.gov/media/139638/download

Regulatory Focus COVID-19 vaccine tracker. https://www.raps.org/news-and-articles/news-articles/2020/3/covid-19-vaccine-tracker

Some more useful Covid links.

Johns Hopkins Coronavirus resource centre

https://coronavirus.jhu.edu/map.html

Rt Covid-19

https://rt.live/

**The Spectator Covid-19 data tracker (UK)**

https://data.spectator.co.uk/city/national

Technology Update.

With events happening fast in the development of solar power and graphene, I’ve added this section. Updates as they get reported. Is converting sunlight to usable cheap AC or DC energy mankind’s future from the 21^st century onwards.

Mahle's cheap, highly efficient new EV motor uses no magnets

By Loz Blain May 12, 2021

Magnets, typically using rare earth metals like neodymium, are found at the heart of most electric vehicle motors. It's nice to have a permanent source of powerful rare earth magnetism in your rotor, because using powered coils instead means you have to somehow transfer electricity from the battery through to the coils in a spinning rotor. That means you'll need a sliding point of contact, and sliding points of contact develop wear and tear over time.

Permanent magnets, though, come with their own baggage. Ninety seven percent of the world's rare earth metal supply comes out of China, and state control over such a crucial resource across a number of high-tech industries has been a serious issue in the past. Official accounts differ about why China decided to restrict rare earth exports back at the start of the decade, as official accounts tend to do, but the result either way was a 750-percent leap in neodymium prices and a 2,000-percent leap in dysprosium prices.

Could these metals be produced elsewhere? Yes. They're not as rare as the name might suggest. But wherever they're mined, the only way to economically turn them into magnets is to send them to China for processing – nowhere else in the world is set up for the task, and nobody can compete against China's minimal labor costs and environmental regulations.

So it's a heavy bat China can swing in trade negotiations, and a genuine supply line security issue for other countries. Several companies, including BMW, Audi, Renault and others, are making at least some of their electric motors without magnets already; everyone else has their eye on new technology in this area.

And that's the context into which German company Mahle has just announced a new electric motor that sounds like it solves a lot of problems in a very tidy manner.

The new Mahle design uses no magnets, instead using powered coils in its rotor. Unlike previous efforts, it transfers power to the spinning rotor using contactless induction – so there are basically no wear surfaces. This should make it extremely durable – not that electric motors have a reputation for needing much maintenance.

The lack of expensive metals should make it cheaper to manufacture than typical permanent-magnet motors. Mahle says the ability to tune and change the parameters of the rotor's magnetism instead of being stuck with what a permanent magnet offers has allowed its engineers to achieve efficiencies above 95 percent right through the range of operating speeds – "a level that has only been achieved by Formula E racing cars."

It's also particularly efficient at high speeds, so it could help squeeze a few extra miles out of a battery in normal use. The company says it'll scale nicely from sizes relevant to compact cars up to commercial vehicles.

“Our magnet-free motor can certainly be described as a breakthrough, because it provides several advantages that have not yet been combined in a product of this type,” says Dr. Martin Berger, Mahle's VP of Corporate Research and Advanced Engineering. “As a result, we can offer our customers a product with outstanding efficiency at a comparatively low cost.”

Mass production is about two and a half years away, according to IEEE Spectrum, and Mahle has not yet nominated which auto manufacturers it's dealing with, but test samples are already starting to circulate

https://newatlas.com/automotive/mahle-magnet-free-electric-traction-motor/

This weekend’s musical diversion. The baroque composer that almost no one has ever heard of. Note the new orchestra layout to social distance during the SARS-2 pandemic. Approx. 13 minutes.

Evaristo Felice Dall'Abaco: Concerto a più istrumenti, Op. 5: No. 6 in D major

https://www.youtube.com/watch?v=T-uqdfGiZjc

This weekend’s aircraft update, electric nose wheels. Approx. 12 minutes.

The FUTURE of PUSHBACK is ELECTRIC! Without a pushback truck! Explained by CAPTAIN JOE

https://www.youtube.com/watch?v=2BZbHAJQ70s

This weekend’s maths masterclass. The Fourier Transform for dummies. Approx. 19 minutes.

But what is the Fourier Transform? A visual introduction.

https://www.youtube.com/watch?v=spUNpyF58BY

Milton Friedman once put it, if you’re spending your own money on yourself, you care about price and quality. If you’re spending someone else’s money on yourself, you only care about quality. If you’re spending your own money on someone else, you care only about price. And if you’re spending someone else’s money on someone else, you don’t care about either.

London Irvine Report

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Saturday, 15 May 2021

Special Update 15/05/2021 Other People’s Money. Inflation.

Earnings reports and the Fed will test the market rally in the week ahead

U.S. tariff review considers commodity shortages, inflation -official

Colonial Pipeline Paid a $5M Ransom—and Kept a Vicious Cycle Turning

Colonial shipping at normal rates based on shipper nominations -spokeswoman

Ireland shuts down health IT system after ransomware attack

A Toshiba business unit says it has been attacked by hacking group DarkSide, report says

U.K. Probes Gupta for Fraud Over Greensill Financing

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Global Inflation Watch.

More Than $1.3 Billion Worth of Art Sold This Week in NYC

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