The unimportant news thread

[Todd]

Markets are reeling from higher rates. The world economy is next

If the Fed tightens until something breaks, the first cracking sounds could be in Europe

A strong dollar, in effect, exports America's domestic inflation problem to weaker economies.

It's good to be King Dollar. 

[Todd]

The CD Turns 40: How the 'Shiny, Tiny' Discs Took Over

[Todd]

Brazil election goes to runoff as Bolsonaro outperforms polls

Some people like this outcome:

Brazil markets soar as Bolsonaro's strong showing sparks runoff vote

[Spotted Horses]

Apparently, at a Paris Fashion show, Belle Hadid walked on to the runway naked and a polymer solution was sprayed on her body, which congealed into a dress.

https://www.cnn.com/style/article/bella-hadid-coperni-spray-on-dress/index.html

Somewhere Kendall Jenner has the depressed feeling that her star is no longer ascending. "Why didn't they spray a dress on me (sniffle)?"

[Todd]

Somewhere Kendall Jenner has the depressed feeling that her star is no longer ascending. "Why didn't they spray a dress on me (sniffle)?"

Perhaps her $45 million fortune will provide some solace.

[Spotted Horses]

Perhaps her $45 million fortune will provide some solace.

She lives and breaths clicks.

[Todd]

She lives and breaths clicks.

That's certainly her public persona.  I don't know her personally, so I do not know if that is true.  I also don't know if she has employees manage her social media accounts, a fairly standard practice for celebrities, irrespective of the source of their fame.

[Todd]

The Onion files Supreme Court brief defending parody posts

And here's a link to the whole thing on the SCOTUS site:

BRIEF OF THE ONION AS AMICUS CURIAE IN SUPPORT OF PETITIONER

[Todd]

From the Graun: Could a digital twin of Tuvalu preserve the island nation before it's lost to the collapsing climate?

[LKB]

USS Gerald R Ford has embarked on her first deployment.

https://www.navalnews.com/naval-news/2022/10/uss-gerald-r-ford-departs-for-its-first-major-deployment/

Russia's Belgorod also made news, though it took a couple of weeks:

https://news.usni.org/2022/10/05/russian-doomsday-sub-belgorod-spotted-in-the-arctic

Should be fun for our ASW people.

[Todd]

From the WTO: Trade growth to slow sharply in 2023 as global economy faces strong headwinds

WTO economists now predict global merchandise trade volumes will grow by 3.5% in 2022—slightly better than the 3.0% forecast in April. For 2023, however, they foresee a 1.0% increase—down sharply from the previous estimate of 3.4%.

[Todd]

Japan's foreign reserves drop by record on market shakeout, FX intervention

[Todd]

U.S. tries to hobble China chip industry with new export rules

Expanding economic warfare with China during a proxy war with Russia.  What could go wrong? 

There may be a shortcoming in the policy:

[Senior government officials] conceded, however, that they had not yet secured any promises that allied nations will implement similar measures and that discussions with those nations were ongoing.

"We recognize that the unilateral controls we're putting into place will lose effectiveness over time if other countries don't join us," one official said. "And we risk harming US technology leadership if foreign competitors are not subject to similar controls."

Unilateralism and extraterritoriality have limits.

[drogulus]

     You weren't supposed to see that

     A guy has opinions about inflation. He comes to the novel conclusion that elites don't fight it to benefit the poor and working class who are presumed to suffer from it. It's more a case of suppressing the bargaining power of labor. If people have money, they have choices. They shouldn't have choices and rates should go as high as necessary to restore the natural order. If inflation is allowed to subside on its own, which it will as supply chains repair and Covid recedes, there will be so much excess equality in the system that people won't know their place any more.

     

[drogulus]

     The US is coming to the conclusion that it's the better part of valor to prop up China for the duration. The US is the only country that can keep scavengers at bay and let the Chinese rot slowly. Foreign investment has declined to a fraction of the 2019 level. The rest will go. The wealthy are fleeing or fled. The borders are starting to close for ordinary people, too. Fewer get in, fewer are allowed to leave. Xi is going Maoist and repression would make Lil' Kim proud.

     US thinksters have rightly judged this is no time to make things worse. They'll say don't feed the Russian troll and we'll keep the trade prohibitions to a dull roar, and you can sell us toys and gadgets for as long as you can make them. The US will agree to help them with the mass starvation thing when the time comes.

[Karl Henning]

Fun Headline of the Day: Have We Really Thought This Legal Weed Thing Through?

[Karl Henning]

Seen on Twitter: What do people who announce they're leaving Twitter only to return a few hours later want from us?

[Todd]

Former Fed Chair Bernanke shares Nobel for research on banks

[Dry Brett Kavanaugh]

Former Fed Chair Bernanke shares Nobel for research on banks

Excellent academic and great Fed Chair. But this is similar to the awarding to Bob Dylan.

[Dry Brett Kavanaugh]

Seen on Twitter: What do people who announce they're leaving Twitter only to return a few hours later want from us?

Higher evaluation of them. Cato the Elder in Roman Empire hated his wife, but he passionately pursued her after she left him and remarried another man. In the ancient Rome, women could divorce men, so they were relatively treated good/fair.