Baltic
Dry Index. 1633 +07 Brent
Crude 66.47
Spot
Gold 3310 U S 2
Year Yield 4.04 +0.12
US
Federal Debt. 36.946 trillion US GDP 30.055 trillion
The
United States can pay any debt it has because we can always print money to do
that. So there is zero probability of default.
Alan Greenspan
In the stock casinos, more hopium. Look away from those
rising US long Treasury yields now!
Hope that the US jobs report doesn’t signal a slowing US
economy.
Hope that the US v China trade talks on Monday in London,
might lead to a meaningful trade deal.
Hope that the Musk v Trump falling out is a meaningless distraction.
Hope that Musk is wrong in calling Trump’s “beautiful big bill” an “abomination”.
I think Elon Musk is right and Warren Buffett is right
about exiting overpriced stocks.
I think Trump’s
tariff wars, if implemented, only lead to a 1930s type outcome, but compounded by
a massive consumer, corporate and national debt default crisis.
Dow
rises more than 400 points on solid jobs report, S&P 500 touches 6,000:
Live updates
Updated
Fri, Jun 6 2025 4:32 PM EDT
Stocks
jumped Friday after the latest nonfarm payrolls data came in better than
expected, easing concern the economy faces an imminent slowdown.
The Dow Jones Industrial Average popped
443.13 points, or 1.05%, to close at 42,762.87. The blue-chip index was up more
than 600 points at its highs of the session. The S&P 500 also gained 1.03%
— surpassing the 6,000 level for the first time since late February — and
settling at 6,000.36. The Nasdaq
Composite rallied 1.20%, ending at 19,529.95.
The
market’s move higher was supported by a more than 3% gain in Tesla. Shares of the electric
vehicle maker weighed on the market Thursday, tumbling 14%, as CEO Elon
Musk sparred
with President Donald Trump on social media. Other major tech-related
names such as Nvidia, Meta Platforms and Apple also ended the session
higher.
U.S.
payrolls climbed
139,000 in May, the Bureau of Labor Statistics reported Friday, above the
Dow Jones forecast of 125,000 for the month but less than the downwardly
revised 147,000 in April. The unemployment rate was unchanged at 4.2%.
“The
nonfarm payrolls report came in better than expected,” Anthony Saglimbene,
chief market strategist at Ameriprise, said in an interview with CNBC. “It’s
showing that the labor market is holding up very well in spite of kind of some
slowing growth trends.”
A
series of data released earlier this week signaled a possible economic
slowdown, raising questions about the impact of the multi-front tariff
negotiations and the next steps for the Federal Reserve, which next
meets to set interest rate policy on June 17-18.
On
Thursday, unemployment claims for last week’s period came
in higher than expected. That came a day after ADP reported that private
sector payrolls saw a
gain of just 37,000 in May, which substantially missed the Dow Jones
estimate for 110,000. Activity in the U.S. services sector also weakened
unexpectedly last month.
“There’s
still some uncertainty about what the inflation impacts are going to be from
the tariffs,” Saglimbene continued, adding that he expects tariff impacts to
start showing up more in the economic data during the summer. “Markets are kind
of holding judgment about what all this means for growth and profitability over
the next couple quarters, so we’re kind of back to where we were in February.”
Trump
has since offered some hope on trade, announcing later Friday that talks
between the U.S. and China will take
place next week in London.
The
S&P 500 ended the session more than 2% below its February high. The broad
market index, along with the other two major benchmarks, also posted notable
gains for the week. The S&P 500 was up 1.5% on the week, and the Dow posted
a 1.2% advance. The Nasdaq jumped 2.2% over the period.
Stock
market news for June 6, 2025
Trump
announces U.S.-China trade talks in London next week
Published Fri, Jun 6 2025 2:34 PM EDT Updated Fri,
Jun 6 2025 3:27 PM EDT
Treasury Secretary Scott Bessent and
two other Trump administration officials will meet with their Chinese counterparts
in London on Monday for renewed trade talks,
President Donald Trump said.
Bessent, who has been leading the administration’s
efforts to craft a deal with Beijing, will be joined by Commerce Secretary
Howard Lutnick and U.S. Trade Representative Jamieson Greer, Trump said.
“The meeting should go very well,” the
president wrote on Truth Social on Friday afternoon. “Thank you
for your attention to this matter!”
CNBC has contacted the Chinese Embassy in Washington
for more information on Trump’s announcement. A spokesperson for the embassy
did not immediately reply to a request for comment.
Trump had first revealed that further trade talks
were planned after he held a lengthy phone call with Chinese President Xi Jinping on Thursday.
The scheduling announcement comes as the U.S. and
China have squabbled over numerous issues in the midst of a debilitating trade
war that threatens both economic superpowers.
The countries — whose total trade in goods
topped $582 billion last year — temporarily lowered most of
the tariffs on each other’s goods after breakthrough bilateral trade talks in
Geneva, Switzerland, last month.
But since then, China has repeatedly accused the
U.S. of undermining that progress.
Beijing protested after the U.S. Commerce
Department warned the chip industry against using Chinese
semiconductors. China also objected to the Trump administration’s recent
announcement that it will revoke the visas of some Chinese students studying in
the U.S.
The Trump administration, meanwhile, has accused
Beijing of slow-walking a pledge made in Geneva to approve the export of
additional critical minerals, known as rare earths, to the United States.
Trump wrote after Thursday’s call with Xi, “There
should no longer be any questions respecting the complexity of Rare Earth
products.” He did not explain what that meant.
Trump
announces U.S.-China trade talks in London next week
In other (agri) news a nervous summer ahead.
Wheat
falls for second session on US crop prospects; corn slips
Worries about
demand for U.S. soybeans from the world's biggest oilseed consumer have hung
over soybean futures
June 4, 2025
---- The U.S. Department of Agriculture's
weekly crop progress report showed on Monday 50% of U.S. spring wheat and 52%
of winter wheat in good to excellent condition, exceeding analyst expectations.
* Favourable U.S. weather has also bolstered corn
and soybean production prospects, keeping a lid on prices.
* On Tuesday, higher crude oil prices lifted the
soybean complex as well as corn, given both crops' role in production of
biofuels.
---- Worries about demand for U.S. soybeans from
the world's biggest oilseed consumer have hung over soybean futures.
Ukraine's 2025 grain harvest may decrease by 10% to
around 51 million metric tons compared to 56.7 million metric tons in 2024,
according to the most pessimistic estimates, Ukrainian agriculture minister
Vitaliy Koval said.
Commodity funds were net buyers of CBOT soyoil and
soybean futures contracts on Tuesday and net sellers of soymeal, wheat and corn
futures, traders said.
Wheat falls for second session on US crop prospects; corn slips
Spring
Wheat Crop Off to Worst Start in 37 Years
Initial ratings
for top producer, North Dakota, were just 37% good to excellent.
Michelle Rook June 05,
2025 07:05 AM
The nation’s spring wheat crop got off to one of the
worst starts in 37 years with an initial rating of 45% good to excellent.
While conditions improved this week to 50%, there
are still production issues that may not heal with the hot, dry extended
forecast.
North
Dakota Crop Sees Weather Extremes
Initial ratings for top producer, North Dakota, were
just 37% good to excellent. That improved 11% this week, but is well under last
year.
Randy Martinson, Martinson Ag, Fargo, North Dakota
says, “The spring wheat conditions came in, below 50%, some of the lowest we’ve
seen in years on the first look at with the crop and almost over 20% lower than
anticipated by the trade. So, nobody was anticipating to see the spring wheat
conditions come in that low.”
He says North Dakota’s crop has been plagued by
various weather extremes.
“The cold temperatures, the late plantings, I think
all of that and then you know those five days of 90 degree heat and the wind I
think took a lot of life out of that wheat market and then we cooled right back
down again.”
Drought
Plagues Western North Dakota and Montana
Western North Dakota is also seeing drought, which
extends from the Canadian Prairies. It includes Montana where the crop is only
rated 33% good.
Kevin Duling, KD Investors, says, “They just didn’t
get get the stand of wheat that they wanted it just is patchy. It’s spotty.
It’s just not it’s not uniform and and and there’s spots that are spots that
look great, but you know overall it’s obviously not very good.”
More
Spring Wheat Crop Off to Worst Start in 37 Years - AgWeb
Finally in EV news,
everything about our growing EV fires problem.
Approx. 4 minutes, 5
minutes and 10 minutes.
EV
Fire Breaks Out on Ship: Morning Midas Abandoned at Sea
EV Fire Breaks Out
on Ship: Morning Midas Abandoned at Sea - YouTube
Massive
3rd Alarm Fire: Philly’s Bus Depot
Massive 3rd Alarm
Fire: Philly’s Bus Depot
FSRI
EV Fire Experiments: What We’re Learning About Battery Fires
FSRI EV Fire
Experiments: What We’re Learning About Battery Fires - YouTube
We can
guarantee cash benefits as far out and at whatever size you like, but we cannot
guarantee their purchasing power.
Alan Greenspan
Global
Inflation/Stagflation/Recession Watch.
Given our Magic Money
Tree central banksters and our spendthrift politicians, inflation/recession now needs an entire
section of its own.
Elon Musk warns of a recession, slams Trump's
tariffs
June 5, 2025
Elon Musk has reignited
his criticism of Donald Trump’s trade policies, warning that the president’s
proposed tariffs could tip the U.S. into a recession.
Responding to Dogecoin
co-creator Billy Markus — known on X as @BillyM2k — who wrote, “can I finally say that trump’s tariffs are super
stupid,” Musk didn’t hold back: “The Trump tariffs will cause a recession in
the second half of this year.”
The Trump Liberation Day
tariffs refer to a sweeping
set of trade restrictions and import taxes proposed by Donald Trump after
returning to office in 2025. They were part of his broader economic agenda
announced on what his supporters dubbed “Trump Liberation Day” — the day marking
his re-entry into the White House.
Critics, including economists and business
leaders, have warned the
sweeping tariffs could stoke inflation and strain global supply chains. Musk,
who supported Trump during the 2024 campaign and briefly served as his advisor,
has grown vocal against the administration’s economic agenda.
Since the Trump
administration introduced "Trump Liberation Day" tariffs — taxes of
up to 60% on Chinese imports and a blanket 20% surcharge on others.
The White House has been
hit with warnings that elevated consumer prices and shrinking exports could
suck as much as 0.8% point from 2025 GDP growth.
Economists at Yale
estimate the levies will cost the typical U.S. household close to $3,800 this
year, sapping disposable income as credit-card delinquencies
hit post-pandemic
highs, as per WSJ.
During these uncertain
market conditions, Bitcoin has tanked to $1,01,291.10, as per Kraken. The asset reached a 24 hour high of $105,936.69 on June 5, however
pressures between Musk and Trump has impacted the asset severely. Bitcoin has
been down nearly 3.96% in the last 24 hours.
Elon Musk warns of a recession, slams Trump's
tariffs
UK house prices fall by more than expected amid
economic uncertainty
6 June 2025
UK house prices suffered
a steeper than expected fall last month and the biggest quarterly drop in value
in almost a year, as economic uncertainty continued to affect the property
market.
The average property
price fell by 0.4% month on month in May to £296,648, a much steeper fall than
the 0.1% decline City economists had expected.
Figures published by
Halifax on Friday showed that the cost of a typical UK property has fallen in
three of the past four months, with the drop in May following a 0.3% rise in
April.
The unexpectedly large
fall last month pushed the quarterly change in house prices down 0.3%, the
steepest fall since June last year.
It also fuelled a
significant slowdown in the annual rate of growth to 2.5% – falling short of
forecasts of just under 3% and easing from growth of 3.2% in April –
representing the slowest growth since July last year.
Amanda Bryden, the head
of mortgages at Halifax, said the figures showed that the housing market had
now absorbed the rush of activity as buyers tried to complete purchases
before stamp duty increases in
England and Northern Ireland in April.
“Despite ongoing pressure
on household finances and a still uncertain economic backdrop, the housing
market has shown resilience,” she said. “The outlook will depend on the pace of
cuts to interest rates, as well as the strength of future income growth and
broader inflation trends.”
However, the number of
mortgage approvals for new home purchases – which is an indicator of future
borrowing and is seen by many as a better measure of the housing market’s
health – fell for a third
consecutive month in April.
According to the most
recent data from the Bank of England, net residential mortgage approvals
declined by 3,100 to 60,500, below economists’ expectations.
HM Revenue and Customs
figures published last week showed an estimated 64,680 house sales took place
in April, 64% lower than the 177,440 reported in March.
More
UK house prices fall by more than expected
amid economic uncertainty
Technology
Update.
With events happening
fast in the development of solar power and graphene, I’ve added this section.
This 14-Year-Old Built an App That Detects Heart Diseases in
Seconds
Siddarth Nandyala wants to put his tool in the hands of medical
professionals so that they can catch cardiovascular abnormalities in their
early stages
May 30, 2025 8:13 a.m.
In trials in India, Siddarth Nandyala detected and diagnosed more
than 40 patients with potential cardiovascular diseases, each within a span of
seven seconds. Not a doctor, or a medical student for that matter, the
14-year-old was able to do this thanks to his very own invention, a simple
smartphone-based app called Circadian
AI.
Last year, for nearly eight months, the Texas-based teenager spent
hours huddled over his computer. He had one simple goal—invent an application
that can pinpoint cardiovascular abnormalities during their initial stage.
In most cases, a heart attack or stroke is the first sign of a
cardiovascular disease. Initial-stage cardiovascular abnormalities are often
asymptomatic, and early detection generally depends on routine health checkups,
electrocardiograms, stress tests, echocardiograms and blood tests. Certain
diagnostic tools like cardiac MRI with late gadolinium
enhancement, invasive coronary
angiography, right
heart catheterization and biomarkers of end-stage damage are only able to detect
cardiovascular abnormalities in cases where the patient is already in the late
stage and suffering from severe blockages, heart failure or dead tissues.
“The main focus and goal for me out of this was to essentially
create a tool that is able to help a large amount of people just through
non-invasive screening procedures,” says the rising freshman at University of
Texas at Dallas. He’ll be pursuing a bachelor’s degree in computer science.
----“What really took my interest in the health care side of
artificial intelligence was the sheer amount of impact and the change that can
be made,” he says.
Heart disease is the leading cause of death globally, according to
the World
Health Organization. Cardiovascular disease caused 19.91
million deaths in 2021, which is almost one in every three
deaths globally. A new study published
in the Journal of Cardiac Failure revealed nearly 6.7 million
Americans aged 20 and above suffer from heart failure. This number is expected
to grow to 8.7 million by 2030, 10.3 million by 2040 and 11.4 million by 2050.
“Even one life detected is one life saved,” Nandyala says.
To develop a real working product, Nandyala frequented various
hospitals and institutions, discussing issues related to cardiovascular disease
with hospital staff, patients and others. There, he collected the necessary
data for his app. The next step was to create a robust artificial intelligence
model, training and then retraining it again until he was completely satisfied
with the results.
“I’d definitely say that throughout this journey every interaction
was helpful,” Nandyala says.
The app is currently only available for clinical use by authorized
personnel. It’s just like any other medical device, Nandyala explains. “You
need to know how to use it before you can use it to detect any diseases,” he
says.
To operate the app, the user simply places a smartphone near their
heart, where it records the sound of the heartbeat. The app has enhanced
noise-cancellation techniques to filter out ambient sounds, enabling accurate
readings even in loud environments. The recorded sounds go through various
amplification algorithms and are then sent over to a machine-learning model
hosted on the cloud, which gives an overall synopsis of the user’s heart
health. An intuitive interface displays the results, with explanations about
what is normal and what may need medical attention. The app detects arrhythmias
and irregular heartbeats, early signs of heart failure, indicators of coronary
artery disease and heart valve abnormalities.
“It’s a pre-screening tool,” says Nandyala.
The teenager has tested the app at various points of care in both
the United States and India. In the U.S., the testing was done on around 15,000
patients, while in India the number sits close to 3,500.
“Clinical trials were conducted not only for detecting diseases,
but as a metric for the efficacy of the tool itself,” says Nandyala.
During one such initial test conducted in India at Government
General Hospital in Guntur, the app detected and diagnosed around ten patients
with cardiovascular diseases. The diseases were later confirmed via clinical
validations, through electrocardiogram and 2D echocardiograms.
More
This 14-Year-Old
Built an App That Detects Heart Diseases in Seconds
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks (usdebtclock.org)
This
weekend’s music diversion. Berio orchestrates
and updates Boccherini. Approx. 7 minutes.
Luigi
Boccherini / Luciano Berio: Ritirata notturna di Madrid (1975)
Luigi Boccherini /
Luciano Berio: Ritirata notturna di Madrid (1975)
This
weekend’s tariff and shipping diversion. Approx. 3 minutes.
Uncertainty
at the Ports: How Tariffs Impact Imports and Prices for Consumers
Uncertainty at the
Ports: How Tariffs Impact Imports and Prices for Consumers
Finally,
what took place on the Bridge of the Dali as it crashed into the Baltimore Key
Bridge in March 2024. Approx. 28 minutes.
What
Happened on the Bridge of the Dali during the Four Minutes After They Lost
Power?
What Happened on
the Bridge of the Dali during the Four Minutes After They Lost Power? - YouTube
The abandonment of the gold standard made it possible for the
welfare statists to use the banking system as a means to an unlimited expansion
of credit. In the absence of the gold standard, there is no way to protect
savings from confiscation through inflation. There is no safe store of value.
Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold
stands in the way of this insidious process. It stands as a protector of
property rights. If one grasps this, one has no difficulty in understanding the
statists' antagonism toward the gold standard.
Alan Greenspan
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