Category: Business

Gas Sellers Reaped $11 Billion Windfall During Texas Freeze – Slashdot

Bloomberg News show that natural gas producers in the Permian shale basin began to drastically reduce output days before power companies cut them off. As the flow of gas cratered, everyone scrambled to secure enough supply, sparking one of the wildest price surges in history. Power producers were forced to pay top dollar in the spot market for whatever gas they could find. Soon customers will be saddled with the bill.
— Read on m.slashdot.org/story/387787

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Beware Of ‘Shrinkflation,’ Inflation’s Devious Cousin : Planet Money : NPR

General Mills’ reframing of its shrinkflation seems to be pretty typical of Corporate America. Companies often sell downsizing as a way to help the environment, offer consumers more choice, or improve the quality of their products. When a spokesperson for Charmin, for example, was confronted by reporters at WBUR about shrinking the size of their toilet sheet squares, she suggested it was the result of “innovations” that allow consumers to, basically, wipe their butts more efficiently.
— Read on www.npr.org/sections/money/2021/07/06/1012409112/beware-of-shrinkflation-inflations-devious-cousin

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Gundlach: If we go to another level of free money, I think the wealth inequality will get worse

The investor cited the Women’s March on Versailles in October 1789 during the French Revolution that began in the market over the high price and shortage of bread that culminated in women besieging the palace. 

“[They] did it in the pouring rain, and many of them, I suspect, didn’t even have any shoes. So why did it come to that? Well, the money printing and the giving away, ended up making the middle class poor, and the prior poor class starving to death. And at the other end, the people who were controlling the levers of the money printing became more wealthy,” Gundlach said. 
— Read on finance.yahoo.com/news/gundlach-on-deficit-spending-stimulus-and-taxes-132214006.html

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Ray Dalio & Adam Grant Launch Free Online Personality Assessment to Help You Understand Yourself (and Others Understand You) | Open Culture

Adam Grant adds: “To achieve success, you need to know yourself and the people around you. Although your car comes with an owner’s manual, your mind doesn’t—and neither do your colleagues. We designed PrinciplesYou to help you gain the self-awareness and other-awareness that are critical to making good decisions, getting things done, and turning a group of coworkers into a great team.”

— Read on www.openculture.com/

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Make No Mistake: Programmable Digital Currencies Are Weaponizable Money | AIER

As a government-issued currency, the digital yuan can be manipulated and monitored in a number of ways. Importantly, it is programmable. Writes The Wall Street Journal, “Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump start.” 
— Read on www.aier.org/article/make-no-mistake-programmable-digital-currencies-are-weaponizable-money/amp/

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