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News & Articles By Arsenio Toledo
03/31/2023
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By Arsenio Toledo
Generative AI could replace up to 300 million mostly white-collar jobs worldwide
A report from investment bank Goldman Sachs warned that the proliferation of artificial intelligence technology could replace the equivalent of 300 million full-time jobs around the world. Specifically, Goldman Sachs warned about generative AI, which can create content indistinguishable from human work. The expansion of generative AI systems is poised to significantly disrupt the job […]
03/30/2023
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By Arsenio Toledo
Just five of Chicago’s largest public pension systems owe more pension debt than the sum of 44 states
The public pension funds of the City of Chicago owe so much debt that they rival the debt held by 44 states. This is according to the Illinois Policy Institute, a libertarian public policy think tank, which found that the city has $48 billion pension debt. The massive size of Chicago’s pension fund underscores how difficult […]
03/30/2023
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By Arsenio Toledo
Global fake food market projected to be worth up to $3 trillion in the near future
Despite the recent drop in sales of fake meat, the entire fake food industry is still expected to grow, with some experts suggesting the entire market could be worth up to $3 trillion. This is according to management consulting firm McKinsey & Company, which claimed that as much as 60 percent of all materials inputted into the […]
03/30/2023
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By Arsenio Toledo
Fed claims it warned Silicon Valley Bank management about risks stemming from its business model as early as fall 2021
Federal Reserve Vice Chair for Supervision Michael Barr claims it warned Silicon Valley Bank’s management as early as the fall of 2021 regarding the risks stemming from its business model. Barr made this claim during a hearing in front of the Senate Committee on Banking discussing whether the Fed should implement stronger banking regulations, supposedly to […]
03/29/2023
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By Arsenio Toledo
Inflation remains a problem for middle- and lower-income Americans as Biden’s Federal Reserve keeps raising interest rates
Inflation continues to haunt middle and lower-income working folks in the United States as the administration of President Joe Biden is still unable to properly resolve the inflation crisis. In an interview with Fox Business, conservative economist and commentator Larry Kudlow talked about it and blamed Biden’s policies for the ongoing situation. (Related: Federal government hides true rate of […]
03/29/2023
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By Arsenio Toledo
Disney to begin mass layoff of 7,000 employees this week
The Walt Disney Company announced on Monday, March 27, that it already began letting go of 7,000 of its workers in a mass layoff the company announced earlier this year. Chief Executive Officer Bob Iger said the layoffs are necessary for the company to control costs and create a more “streamlined” business. The job cuts were initially […]
03/29/2023
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By Arsenio Toledo
IMF head warns: Risks to stability of global financial system have increased after recent upheavals across banking sector
International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned that the risks to the stability of the global financial system have increased along with “the need for vigilance,” especially after the recent upheavals in the banking sector. Georgieva made these pronouncements while speaking at the China Development Forum in Beijing. She reiterated her view that […]
03/27/2023
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By Arsenio Toledo
Ron DeSantis to introduce legislation in Florida prohibiting the use of CBDCs in the state
Florida Gov. Ron DeSantis has unveiled his plan to introduce legislation to prohibit the use of central bank digital currencies (CBDC) in the Sunshine State, calling the nationwide attempt to push its use a part of the “woke ideology.” The proposed law would prohibit the use of any kind of digital currency issued by the federal government as […]
03/24/2023
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By Arsenio Toledo
US bondholders preparing to sue Swiss government over wipeout of $17 billion worth of Credit Suisse bonds
American investors in Credit Suisse and corporate litigators are preparing to take on the government of Switzerland over its decision to wipe out $17 billion worth of Credit Suisse bonds. Swiss bank Credit Suisse was sold to one of its main competitors, UBS, in a sale brokered by the Swiss government. As part of this deal, […]
03/22/2023
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By Arsenio Toledo
Existing home prices in the US fall for the first time in 11 years
Year-over-year home prices in the United States have dropped for the first time in 11 years, leading to a reversal in the yearlong streak of declining monthly home sales. The national median price for an existing home fell by 0.2 percent in February year-over-year to $363,000. This marks the first year-over-year decline in housing prices […]
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