Financial markets are supposed to capture the wisdom of the crowd, but on Monday the crowd ran in all directions waving its hands in the air screaming. Japan’s stock market fell the most in 37 years and the VIX index of implied U.S. stock volatility had the second-biggest rise in data back to 1990. Panic hit.
The selloff was triggered by Friday’s jobs data prompting a sudden switch in the economic narrative from soft landing to hard landing. Add to the mix a period of deflating hype about artificial intelligence and a Bank of Japan rate rise designed...that highlights survey data on topics on which Americans largely agree. Its goal is to correct political misperceptions, highlight common ground, and help people feel calmer and more united.
"think that the federal minimum wage of $7.25 an hour is not enough for the average American worker to have a decent quality of life." NYC shuttered 80% of its Airbnbs, $ABNB, in an attempt to make housing more affordable. All that's done so far is make hotels more expensive Grim new survey shows how California Gov. Gavin Newsom's $20-an-hour minimum wage for fast-food workers has helped tank the industry
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