In a Nutshell: A Must Read
Federal Reserve: Don’t Rush Us Now, We Are Still Thinking
After months of anxious anticipation, the Fed announced yesterday that it would keep rates at 0%. The debate around whether or not the Fed should raise rates pit hawks (people who believe that having rates at 0% was fueling inflation and a bubble) against doves (people who believe that if the Fed raises too soon we will have another recession).
By holding rates steady Fed Chairwoman, Janet Yellen, gave some breathing room to emerging markets that are struggling with the fallout from China’s economic slowdown. However, most people still believe the Fed will raise rates later this year.
On My Count…Republican Candidates Brawl!
Last night, Republican candidates lined up for the second presidential debate. A three hour marathon where candidates were asked questions that encouraged them to yell at each other in a way that benefited no one except, perhaps, CNN’s ratings. Instead of focusing on what they stood for candidates were asked to respond to comments made about them by other candidates, sometimes about issues as trivial as their appearance. Despite the hullabaloo, there were some notable performances:
• Carly Fiorina hits hard – the former HP CEO attacked Trump for his previous misogynistic comments amount women. Fiorina, who made millions violating Iran sanctions while head of HP, also came out strongly against the Iran Deal.
• Ben Carson continued his quiet ascent – Quiet in the first half of the debate, Dr. Carson said he is the only candidate not backing immigrant amnesty, spoke about healthcare and argued against his rivals skepticism of vaccinations.
• John Kasich plays role of parent: Former Ohio governor tried to play the role of “reasonable Republican” talking about how he would use allies to strengthen America’s hand with Iran and not make rash decisions to shut down the US government.
• Jeb Bush tried to look happy – He fumbled the question on how he is different from the other Bush Presidents but tried to show “more energy” and attack Trump as well as outline his immigration plan. Oh and his mum is angry at him.
There were also some great awkward moments and one-liners in the debate as the candidates sparred… Are the Democrats having a debate anytime soon?
NUTS AND BOLTS: SHOULD READ
Muslim Boy Arrested In Texas For Building A Clock…
Being Muslim in America can make things a bit difficult for you. You are more likely to be “randomly checked” at airports and less likely to get hired. For 14-year-old Ahmed Mohamed in Texas it also means that your class project might be construed as a bomb. Ahmed was arrested when he brought a homemade clock to school which his ninth grade teacher thought was a bomb…
Thankfully, it wasn’t all bad news for Ahmed, President Obama invited Ahmed to the White House and Mark Zuckerberg invited him to Facebook.
Hungary Vs. Refugees… Tear Gas Manufacturers Win
Hungarian police clashed with refugees at the border with Serbia yesterday after some of them were able to break through the newly completed border fence. Police fired tear gas and water cannons at the refugees who responded by throwing stones and water bottles back. The refugees, who are in an ever-growing camp on the Serbian side of the border, had given Hungary a two hour ultimatum to open the border. It’s probably safe to say that this border fence won’t solve anything.
Bad Beer = Big Business
What’s the difference between a Miller Lite and a Bud Lite? To start with they both taste like this and now they might be owned by the same company. AB-InBev is in talks to buy its biggest rival SAB Miller. Combined the two companies would control ~70% of the beer business in the US and 30% globally and would own all these brands. The deal is rumored at more than $75 billion (the GDP of Belarus).
FUN READ: The Things You Never Knew About Beer
Syria: $500 Million Isn’t What It Used To Be
There used to be a time that you could run a respectable guerrilla war with $500 million, alas that is no more. Pentagon officials said that the $500 million program to train “moderate” Syrian rebels has probably resulted in about four or five operational rebels. More people are voting for Martin O’Malley (who is he?) than are part of this program. Meanwhile, Putin seems to be offering a “diplomatic solution” to the mess.
LOOSE NUTS: FOR YOUR ENJOYMENT
IRONY: The Donald Replaced On ‘The Apprentice’ By The Arnold
Actor slash model, politician, slayer of Predator and bearer of a big sword Arnold Schwarzenneger is set to replace the Donald as the host of “Celebrity Apprentice.” The world wide web spontaneously combusted with “Hasta La Vista Trump” and “You Are Terminated Trump” jokes. NBC severed its relationship with Trump after he made anti-immigrant comments. What goes around comes around for the Donald… the Austrian-American is pretty much the embodiment of the American dream.
Weekend Reads:
• Can you #feelthebern? Read up on Bernie Sanders in our nutshell.
• Who really writes Taylor Swift’s songs? Apparently a bunch of bald Norwegians.
• Must-have skills: learn how to network your way through a work party.
• Why do so many incompetent men become leaders? HBR investigates.
• Was Israel tipped off about the 1973 war or was it fed false information? A story about a double- or triple-crossing Egyptian spy and how he ended up dead on the streets in London.
• Are people getting tired with democracy?
WSJ special report on a rate-fixing scandal. Not as boring as it sounds.
WE SAID THIS: Don’t miss last week’s PNUT Gallery