“…While Florsheim enjoys success in the small, albeit influential market of Washington’s elite, the company has reportedly been priced out of operating in the U.S.
The firm, founded in 1892, cannot afford to make its affordably priced shoes domestically, according to The Milwaukee Business Journal.
Production has been outsourced to China, Cambodia, Mexico, India and the Dominican Republic, Justin FitzPatrick, the owner of J.FitzPatrick Footwear and menswear blogger, told CNN…”
“…The CEO of Dow is warning that a global supply crisis is hitting a very wide range of industries, and he is projecting that it could take 250 to 275 days to unwind this mess once the Strait of Hormuz is opened again…
Petrochemical price spikes and shortages from the Iran war likely will cause inflationary effects at least through the end of the year on construction materials, consumer goods, the automative and aerospace industries, and much more, the CEO of chemical manufacturing giant Dow said.
While much of the global supply-shock focus is on oil, natural gas, fertilizers, and even helium for semiconductors, almost 20% of global petrochemical capacity is blocked from the effective closure of the Strait of Hormuz chokepoint by Iran, said Dow chair and CEO Jim Fitterling.
“The die is being cast for the rest of the year for what’s going to happen in the markets,” Fitterling said at the CERAWeek by S&P Global conference in Houston. “It’s like the unwind we saw on supply chains during COVID.
“You could be in the 250- to 275-day [range]. This is not going to be an instantaneous rewind.”Of course, all of the economic infrastructure that has been destroyed on both sides will not be rebuilt in 250 to 275 days.
Sadly, the truth is that it will take years to fully rebuild all of that infrastructure, even if the war ended immediately.
So ultimately I agree with those who are warning that the economic impact of this war “will stretch until the end of the decade”…”
“…Five Guys’ chief executive officer, Jerry Murrell, said he gave a $1.5m bonus to employees of his US-based burger restaurant chain because “I didn’t want anybody shooting me” after the company recently “screwed … up” a buy-one-get-one-free promotion…”
“…What really matters is the “follow the money” angle: Yousef al Otaiba reaffirmed the $1.4 trillion UAE investment commitment in the Empire of Chaos – which covers multiple deals in energy, AI infrastructure, semiconductors, and manufacturing.
The infernal escalation machine is in full effect. Tehran carefully studied every instance of the UAE’s direct involvement not only in the outbreak of the war but also the current escalation. Abu Dhabi not only hosts U.S. military bases; but also allowed the U.S. to use some of its own air bases to attack Iran, and helped hostile entities to develop their target database using the Emirates AI infrastructure.
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Langley’s top asset in Pakistan is Army Chief Gen. Asim Munir – part of the regime change gang that deposed former PM Imran Khan and threw him in jail. Munir has Trump on speed dial.
They had recently spoken in detail about Iran – with Munir instrumentalizing the back channels between Tehran and the Witkoff-Kushner duo, everything enveloped in the subterfuge of “negotiations”.
Munir is rabidly anti-Shi’ite; nearly a Salafi-jihadi in his mind; and very close to Saudi Arabia – which wants Trump to go all out on Iran.
(…)
As it stands, a clear possibility is that the GCC may become instrumental in the international financial system implosion, as it will have to pull massive funds out of the U.S. market to be able to bet on their shaky survival.
China is watching all of the above with bated breath. Beijing has been more than aware that the fall of Assad severed the absolutely critical overland node connecting the New Silk Roads/BRI to the Eastern Mediterranean.
China was betting heavily on the trilateral railway linking Iran, Iraq and Syria, which would be a beauty in terms of bypassing imperial naval chokepoints. Iran controlling the Strait of Hormuz though should be the beginning of a geoeconomic counterpunch.
After all Iran has just institutionalized the petroyuan as the payment system at the Hormuz toll booth. As 80% of its oil revenue was already being settled in yuan through CIPS, the system now includes shipping fees, simultaneously bypassing the U.S. dollar, U.S. sanctions and SWIFT – and that in the most consequential chokepoint of the global economy…”
“…Foreign central banks have not been dumping US-dollar-denominated assets. But they’ve been loading up on assets in other currencies, and their total holdings of foreign exchange reserves have ballooned, while their USD-assets have remained nearly flat for over 10 years. So the share of USD-denominated exchange reserves dropped to 56.8% of total foreign exchange reserves in Q4, the lowest since 1994, according to the IMF’s data on Currency Composition of Official Foreign Exchange Reserves, released on Friday…”
Trump to Break 165-Year Tradition with Signature on US Dollar Bills
“…U.S. paper currency will bear President Donald Trump’s signature starting this summer, the first time a sitting president has signed American money, the Treasury Department said on Thursday.
The redesigned notes, planned to mark the 250th anniversary of American independence, will also for the first time in 165 years drop the signature of the U.S. treasurer, who reports to the Treasury Secretary and oversees the Bureau of Engraving and Printing, the U.S. Mint and other Treasury functions.
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An effort for a circulating $1 Trump coin was set back by laws prohibiting the depiction of living individuals on U.S. coins.
A statute governing the printing of Federal Reserve notes gives the Treasury broad discretion to change designs to guard against counterfeiting. The law requires keeping certain elements, including the words “In God We Trust,” and only allows portraits of deceased individuals.
The overall designs of bills will not change, except for Trump’s signature replacing the Treasurer’s, Treasury officials said…”
“…Bull imagery appears occasionally in Western festivals and architecture. The Victory arch in New York is a reproduction of the Temple of Ba’al in Palmyra (Syria), which was also rebuilt in London in 2016. The Charging Bull in the Financial District in New York is acknowledged as drawing a parallel between the idolatry of money in capitalism and worship of the golden calf by Israelites, while a demonic-looking bull was also featured in the opening ceremony of the 2022 Commonwealth games in London…”
“…UK authorities believe improving efficiency across national finance operations requires applying AI platforms from vendors like Palantir. The country’s financial regulator, the FCA, has initiated a project leveraging AI to identify illicit activities.
The FCA is currently testing the Foundry platform from Miami-based software vendor Palantir. This three-month pilot costs upwards of £30,000 per week and focuses on mining the regulator’s internal data lake. The objective centres on detecting money laundering, insider trading, and fraud across the 42,000 financial services businesses under the FCA’s supervision…”
“…Quietly over the last decade, Ohio has become a state of incredible national importance, as it continues to attract data centers from American “royalty” and Big Tech stalwarts into its friendly regulatory borders. But long before Amazon, Meta, Anduril, Microsoft and others took their power-hungry –– literally and figuratively –– refuge in the Buckeye State, the most well-known financier of Jeffrey Epstein, Leslie Wexner, and his extensive crime-linked network were laying the foundation for the new Silicon Valley, now known as the Silicon Heartland, along the Ohio River.
Wexner’s own statements last year underscore Ohio’s coming importance in the age of ascendant, AI-powered technocracy. Last May, he stated that Columbus in particular would soon become an international AI destination. He also asserted that “probably the largest AI investment in the world will happen in Columbus.” Wexner would know, as he’s personally responsible for Ohio’s –– specifically Columbus’ –– rise as one of the most important AI hubs in the country.
Yet, Wexner, with Epstein’s help, has done much more than attract massive AI data centers to the state. As this investigation will show, Wexner and his closest allies, Epstein among them, worked to create a model for the takeover of local governments via public-private partnership, starting first in New Albany beginning in the late 1980s. It has since spread to cover the entire state of Ohio via a network of public-private partnerships Wexner helped create. This system has allowed Wexner to use billions of dollars of Ohio taxpayer money, with little to no public scrutiny, to finance what can only be described as a massive welfare system for corporations. Among that system’s current biggest beneficiaries are Wexner’s New Albany Company as well as massive Big Tech corporations with important ties to Jeffrey Epstein (e.g. Amazon and Google). Meanwhile, regular Ohioans are seeing their power bills jump, provoking an affordability crisis in the state, while funding for public schools, libraries and healthcare is cut dramatically –– all to keep the corporate welfare engine designed by Wexner running full tilt…”
“…The US has caused an eye-watering $10tn in global damages to the world over the past three decades through its vast planet-heating emissions, with a quarter of this economic pain inflicted upon itself, new research has found.
By being the largest carbon emitter in history, the US has caused greater harm to worldwide economic growth than any other country, ahead of China, now the world’s largest emitter that is responsible for $9tn in GDP damage since 1990, according to the findings of the paper.
About 25% of this GDP dampening has occurred in the US itself, although other countries have borne a heavy toll, with economic losses disproportionately felt in the poorest countries. Since 1990, US emissions have caused an estimated $500bn of economic damage to India and $330bn in damage to Brazil, the research finds…”