Saturday, 2 August 2025

Special Update 02/08/2025 Gaza, The Stain On Israel! Tariff War Weekend One. US Jobs Reality.

Baltic Dry Index. 2018 + 15            Brent Crude 69.67

Spot Gold 3363                   U S 2 Year Yield 3.69 -0.25 

US Federal Debt. 37.179 trillion

US GDP 30.174 trillion

What the horrors of war are, no one can imagine. They are not wounds and blood and fever, spotted and low, or dysentery, chronic and acute, cold and heat and famine. They are intoxication, drunken brutality, demoralization and disorder on the part of the inferior... jealousies, meanness, indifference, selfish brutality on the part of the superior.

Florence Nightingale

We open with more on Israel’s Gaza “disgrace to humanity”. Is there no one left in the Israeli government or US government with a shred of decency, pity, or mercy?

Hunger in Gaza reaches ‘tipping point’ under Israel’s offensive as children face lifelong impacts of malnutrition

Published Thu, Jul 31 2025 7:43 AM EDT

The hunger crisis in Gaza under Israel’s assault has reached a “tipping point,” experts and advocates tell NBC News, with deaths expected to soar if Palestinians do not get urgent relief.

And many children who do survive malnutrition will face lifelong consequences, they warn.

The “window to prevent mass death is rapidly closing, and for many it’s already too late,” said Kiryn Lanning, senior director of emergencies of the International Rescue Committee (IRC), a U.S.-based humanitarian organization. The World Health Organization warned that the “health and well-being of an entire future generation” was at stake.

Doctors and aid workers inside Gaza, themselves overworked and underfed, have been warning for months about the critical lack of food and the spiraling cost of the little that was available due to Israel’s offensive and crippling aid restrictions. They say that their worst fears are coming to pass.

“We are now facing a massive health disaster,” Dr. Ahed Jabr Khalaf, a pediatrician and intensive care specialist at Nasser Hospital in Khan Younis, told NBC News’ crew on the ground. He said Wednesday that several more children had died from malnutrition that day alone.

The warnings came as the world’s leading body on hunger, the Integrated Food Security Phase Classification, or IPC, sounded the alarm that the “worst-case scenario of famine” was now unfolding in the Palestinian enclave under Israel’s deadly military offensive and crippling aid restrictions.

A ‘tipping point’ ?

International outrage has grown as scenes show starvation spreading through the enclave, with dozens dying from malnutrition in recent weeks and people collapsing in the dirt. In the face of this mounting pressure the Israeli military began limited pauses in fighting to allow more supplies in — but aid officials have warned this is still far from enough.

It feels like the crisis may have already reached a “tipping point,” said Jeremy Konyndyk, president of Refugees International.

“Day after day, there are reports of multiple deaths from starvation,” said Konyndyk, an official with the U.S. Agency for International Development during the Obama and Biden administrations. “That is new, and that suggests that the population has now reached a point of vulnerability and deprivation,” he said in a phone interview Monday before the IPC’s report was released.

“And when you start to see that in small numbers, that tells you that bigger numbers are coming.”

----“We know from pretty much every past famine, that the data always takes time to catch up to the reality on the ground,” Konyndyk said, noting the particular difficulties in accessing data given Israeli restrictions on access to Gaza.

“The situation has reached a critical inflection point,” agreed Emily Keats, an assistant scientist in international health at the Johns Hopkins Bloomberg School of Public Health in Baltimore. She said that it would only “continue to worsen unless the population is able to safely access food and adequate health services.”

Israeli Prime Minister Benjamin Netanyahu’s office said Tuesday following the IPC’s alert that the situation in Gaza was “difficult” but claimed Hamas had benefited from “attempting to fuel the perception of a humanitarian crisis.”

More

Hunger in Gaza reaches 'tipping point' under Israel's offensive as children face lifelong impacts of malnutrition

In stock casino, US jobs news. Trump’s bizarre economic policies are now starting to reap what he sowed.

Dow closes 500 points lower Friday as weak jobs data and new tariffs incite sell-off: Live updates

Updated Fri, Aug 1 2025 4:49 PM EDT

Stocks tumbled on Friday to kick off August trading as investors weighed stark signs of a weakening economy and President Donald Trump’s modified tariff rates.

The Dow Jones Industrial Average dropped 542.40 points, or 1.23%, closing at 43,588.58 and notching its worst decline since June 13. The S&P 500 shed 1.60% to end at 6,238.01 and post its worst day since May 21, while the Nasdaq Composite dipped 2.24% and settled at 20,650.13 for its biggest slide since April 21.

The July jobs report showed nonfarm payrolls expanded by 73,000 last month, well beneath the consensus estimate from economists polled by Dow Jones that called for a 100,000 increase to payrolls. Prior months were significantly revised down. June job growth totaled just 14,000, down from 147,000. The May count came down to 19,000 from 125,000, signaling the labor market has been weakening for a while now.

Bank stocks were sharply lower on fears that a slowing economy could hit loan growth. Shares of JPMorgan Chase pulled back more than 2%, while Bank of America and Wells Fargo fell more than 3% each. GE Aerospace and Caterpillar dipped nearly 1% and 2%, respectively.

“What we’re seeing is concern about growth that comes at a time when market multiples have become quite elevated,” said Thierry Wizman, global FX and rates strategist at Macquarie Group. “It’s also indicative of a late summer growth scare, but you can layer that a little bit with that the idea that the doves on the FOMC ended up being correct, which lends to the idea that the Fed is late.”

The numbers increased the odds that the Fed could act sooner than expected to cut rates and prop up the economy. Traders place the likelihood of a September rate cut at roughly 86% after the jobs figures, according to CME fed futures trading. That’s a reversal from Wednesday, when the odds plummeted after Fed Chair Jerome Powell signaled the central bank needs to wait and evaluate the impact of tariffs on inflation before cutting.

Trump’s overnight rollout of updated duties that ranged from 10% to 41% also weighed on sentiment. Goods that have been transshipped in a bid to avoid the tariffs will face another 40% levy, according to the White House.

Canada, one of the U.S.’s biggest trading partners, will now face a 35% levy. That’s up from 25%.

“Traders are locking in gains as tech earnings fade, macro risks grow, and seasonality turns negative. Breadth is narrowing, valuations are stretched, and defensive positioning is quietly building,” said Joseph Cusick, portfolio specialist at Calamos Investments.

A sell-off in tech giants also weighed on the major averages Friday. Shares of Amazon tumbled more than 8% after the e-commerce giant provided light operating income guidance for the current quarter. Apple stock slipped 2.5%.

The major averages also suffered a losing week, with the S&P 500 dropping 2.4% for its worst weekly performance since May 23, and the Dow tumbling 2.9% to post its worst week since April 4. The Nasdaq lost 2.2% in the period.

Stock market news for Aug. 1, 2025

US economy adds just 73,000 jobs, far below expectations as Trump unveils global tariffs

1 August 2025

The US economy added only 73,000 jobs in July, significantly below expectations as President Donald Trump resumes his global tariffs.

The Bureau of Labor Statistics released on Friday its report, which showed that the unemployment rate of 4.2 percent changed little.

The day before, Trump had announced a series of new tariffs after he had said that Friday would be the drop-dead date for them to resume.

In another significant, development, the bureau also downwardly revised the number of jobs added in May from 144,000 jobs to only 19,000 while it revised the number of jobs added in June from 147,000 to 14,000.

The health care sector saw the biggest number of job increases, accounting for 55,000 of the 73,000 jobs added, while social assistance jobs rose by 18,000.

US economy adds just 73,000 jobs, far below expectations as Trump unveils global tariffs

Trade War Turmoil, Rising Unemployment Send Markets Diving

August 1, 2025 at 11:50 PM GMT+1

For anyone who was around on “Liberation Day” in April, market reaction to US President Donald Trump’s overnight tariff fusillade—replete with new levies, new targets and new delays—was predictable. But it wasn’t just Trump’s latest spray of trade threats that sent markets diving to their lowest point in months.

As Trump’s initial 90-day self-imposed delay of “reciprocal” tariffs comes to an end, and in the aftermath of gross domestic product data showing the economy slowing, there was fresh bad news for the president on Friday. Grim employment numbers released by the Bureau of Labor Statistics (BLS) appeared to hammer another nail into the coffin of what had been a few years of record US employment.

The jobless rate rose to 4.2% last month, with nonfarm payrolls increasing by 73,000, less than almost all economists had forecast. But the damage wasn’t limited to July. The big story was revisions to the prior two months, which lopped off 258,000 jobs. Taken together, the numbers entirely change the tone of recent trends. The average three-month payroll gain went from 150,000 before Friday’s release to just 35,000.

Trade War Turmoil, Rising Unemployment Send Markets Diving: Evening Briefing - Bloomberg

US employers slash hiring as Trump advances a punishing trade agenda

Updated 10:25 PM GMT+1, August 1, 2025
 
WASHINGTON (AP) — U.S. hiring is slowing sharply as President Donald Trump’s erratic and radical trade policies paralyze businesses and raise doubts about the outlook for the world’s largest economy.

U.S. employers added just 73,000 jobs last month, the Labor Department reported Friday, well short of the 115,000 expected.

Worse, revisions shaved a stunning 258,000 jobs off May and June payrolls. And the unemployment rate ticked higher to 4.2% as Americans dropped out of the labor force and the ranks of the unemployed rose by 221,000.

“A notable deterioration in U.S. labor market conditions appears to be underway,’' said Scott Anderson, chief U.S. economist at BMO Capital Markets. ”We have been forecasting this since the tariff and trade war erupted this spring and more restrictive immigration restrictions were put in place. Overall, this report highlights the risk of a harder landing for the labor market.’'

Economists have been warning that the rift with every U.S. trading partner will begin to appear this summer and the Friday jobs report appeared to sound the bell.

“We’re finally in the eye of the hurricane,” said Daniel Zhao, chief economist at Glassdoor. “After months of warning signs, the July jobs report confirms that the slowdown isn’t just approaching—it’s here.”

U.S. markets recoiled at the jobs report and the Dow tumbled more than 600 points Friday.

But President Donald Trump responded to the weak report by calling for the firing of Erika McEntarfer, the director of the Labor Department’s Bureau of Labor Statistics, which compiles the jobs numbers. “I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump said on Truth Social. “She will be replaced with someone much more competent and qualified.”

Trump questioned the big revisions, but they are a standard part of the monthly jobs report. The Labor Department revises its numbers as more data comes in. Particularly since COVID-19, businesses have taken longer to respond to the government’s survey on hiring. As more data has come in later than in the past, the potential for large revisions has increased.

Revelations in the new data raise questions about the health of the job market and the economy as Trump pushes forward an unorthodox overhaul of American trade policy.

Trump has discarded decades of U.S. efforts to lower trade barriers globally, instead, imposing hefty import taxes — tariffs — on products from almost every country on earth. Trump believes the levies will bring manufacturing back to America and raise money to pay for the massive tax cuts he signed into law July 4.

Mainstream economists warned that the cost of the tariffs will be passed along to Americans, both businesses and households.

WalmartProcter & Gamble, Ford, Best Buy, Adidas, Nike, Mattel, Shein, Temu, Stanley Black & Decker, have all hiked prices due to U.S. tariffs. Economists at Goldman Sachs estimate that overseas exporters have absorbed just one-fifth of the rising costs from tariffs, while Americans and U.S. businesses have picked up the lion’s share of the tab.

Trump has sowed uncertainty in the erratic way he’s rolled the tariffs out — announcing, then suspending them, then coming up with new ones. Overnight, Trump signed an executive order that set new tariffs on a wide swath of U.S. trading partners to that go into effect on Aug. 7, and that comes after a flurry of unexpected tariff-related actions this week.

“There was a clear, significant, immediate, tariff effect on the labor market and employment growth essentially stalled, as we were dealing with so much uncertainty about the outlook for the economy and for tariffs,” said Blerina Uruci, chief U.S. economist for the brokerage T. Rowe Price.

More

US hiring grows more faint in chaotic economic environment | AP News

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.

Highest US Tariffs Since WWII Set to Cut Growth, Boost Inflation

August 1, 2025

(Bloomberg) -- President Donald Trump’s reciprocal levies will likely weigh on economic growth and push up prices while hammering the global economy, according to Bloomberg Economics. 

The tariffs announced Friday, which run from 10% to 41% and mark the highest rates since World War II, would increase the average US duty to 15.2% from 2.3% in 2024, according to analysis by Maeva Cousin, chief trade economist at BE.

That would cut US GDP by 1.8% and boost core prices by 1.1% over two to three years, the analysis showed. Globally, the higher import taxes are set to sap demand across trading partner economies.

The figures could change, though, depending on how much companies are willing to absorb in their profit margins and what they pass on to consumers.

The estimate also depends on the tariffs being implemented as announced and deals on car levies with the EU, Japan and South Korea sticking. It also doesn’t include any potential deal with China, which is still negotiating with the White House. There are also sectoral tariffs that are still being considered by US officials that could sway the impact.

“The tariffs will deliver a major blow to global GDP,” Cousin wrote in a Friday research note. “For many US trading partners, the higher tariffs create downside risks to demand — which will weigh on both activity and inflation.”

The biggest losers are China, which is still subject to a number of tariffs including a 20% level tied to fentanyl, and Switzerland, where the reciprocal tariff rate shot up to 39% — even higher than the April 2 level, Cousin said.

There is a silver lining: The seven-day window before the new charges are implemented gives some countries room to further negotiate their tariff levels down. 

Highest US Tariffs Since WWII Set to Cut Growth, Boost Inflation

Euro zone inflation holds steady at higher-than-expected 2% in July

August 1, 2025

Euro zone inflation was unchanged at a higher-than-expected 2% in July, flash data from statistics agency Eurostat showed Friday.

Economists polled by Reuters had expected the figure to hit 1.9%, after a 2% reading in June.

So-called core inflation, which strips out more volatile food, energy, alcohol and tobacco prices, came in at 2.3% in July, the same level as during the previous two months, Friday’s data showed.

The closely watched services print meanwhile eased to 3.1% in July after picking up slightly to 3.3% in June.

Following the data release, the yield on Germany’s 10-year bond was more than one basis point higher, while the French 10-year bond yield was up by less than one basis point.

The inflation figures follow on the footsteps of indications earlier this week that showed the euro zone economy expanded by a better-than-expected 0.1% in the second quarter, which was nevertheless sharply down on the 0.6% growth of the three months to the end of March.

Analysts interpreted the data as Europe’s economy so far showing resilience in the face of U.S. President Donald Trump’s tariff policies. The European Union and Washington recently inked a trade agreement which includes a 15% baseline levy for EU goods bound for the U.S. Sectoral tariffs and temporarily reduced so-called reciprocal duties have already been in play.

Duties are widely expected to weigh on economic growth, including in the euro zone, and affect prices of goods for U.S. consumers. Their impact on inflation in Europe remains uncertain.

Euro zone inflation July 2025

Technology Update.

With events happening fast in the development of solar power and graphene, I’ve added this section.

Energy giant switches on nation's largest solar plant set to power over 400,000 homes: 'Energy for years to come'

Thu, July 31, 2025 at 1:00 PM GMT+1

A major step toward more affordable renewable energy recently occurred in Peru. Zelestra, a Spanish renewable energy company, has officially switched on the country's largest solar farm.

The solar farm, dubbed the San Martín project, consists of 450,000 solar panels and will generate over 830 GWh of clean energy annually, powering more than 400,000 homes. To put it in perspective, a U.S. household uses roughly 10,500 kWh per year, or 0.0105 GWh.

Located in the La Joya district of Arequipa, Peru, this plant is good news for everyday people because solar energy can help lower electricity bills in the long run and benefit the environment. Unlike fossil fuels, the sun's energy is free, so once the panels are built, the power they produce doesn't depend on buying expensive gas or coal.

By adding substantial clean power to the grid, the San Martín project can help protect families from rising energy costs while also maintaining power during major storms.

"By leveraging our global expertise in engineering, procurement, and construction, we can successfully co-build tailored solutions that bring projects to life on time and on budget," said Zelestra CEO Leo Moreno, per Renewable Energy Magazine. "We are proud to see the most ambitious solar project in Peru now fully operational, and we look forward to a long-term partnership with Kallpa in delivering clean, reliable energy for years to come."

Building and running this solar farm has already created hundreds of local jobs, and it will continue to provide steady work for those who maintain and operate it. Additionally, replacing fossil-fuel energy with solar energy reduces pollution.

This project alone will prevent over 160,000 tons of carbon pollution from entering the air each year, according to the report. This means cleaner air and a healthier environment for the community. In short, Peru's sunshine just got a whole lot more powerful, and everyone's set to breathe a little easier because of it.

Energy giant switches on nation's largest solar plant set to power over 400,000 homes: 'Energy for years to come'

Next, the world global debt clock. Nations debts to GDP compared.

World Debt Clocks (usdebtclock.org)

Exponent Calculator

Enter values into any two of the input fields to solve for the third.

Exponent Calculator

This weekend’s music diversion.  Padre Antonio Soler circa 1765 brought up to date. Approx. 10 minutes.

SOLER ANTONIO 1729 1783 Fandango L'Arpeggiata, Christina PLUHAR

SOLER ANTONIO 1729 1783 Fandango L'Arpeggiata, Christina PLUHAR

In Trump tariff war news. Trump insults 1.4 billion Indians.Approx. 3 minutes.

Trump Escalates Trade War With India? Calls Bharat 'Dead Economy', Free Pass To Say Anything?

Trump Escalates Trade War With India? Calls Bharat 'Dead Economy', Free Pass To Say Anything?

Finally, ABUSA.  What happened to US tourism. Approx. 13 minutes.

Peak Summer Season Is Here, But Where Are The Tourists?

Peak Summer Season Is Here, But Where Are The Tourists? - YouTube

The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money...but never learn to have money work for them.

Robert Kiyosaki

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