President-elect Donald Trump’s plan to fund federal operations and suspend the debt ceiling suffered a blow as the House rejected the proposal. Trump, along with billionaire ally Elon Musk, failed to convince members of the House to approve the sudden demands, which were meant to avert a Christmastime government shutdown. Trump’s proposal aimed to keep the government running for three more months, with the addition of $100.4 billion in disaster assistance for hurricane-impacted states. ...

Tesla sales in Europe plunged 40% in November as customers react to Elon Musk’s support of Donald Trump. The company’s sales in the European Union fell to 18,786 vehicles, down from 31,810 the previous year, with only three brands, including Smart, Fiat and Chrysler, faring worse. Analysts suggest the downturn might be due to several factors including new EU tariffs on Chinese-made vehicles and price cuts that boosted sales last year. While there’s been a general 10% drop in EU electric vehicle sales, Tesla’s sales from January through November dipped 15% from 2023 figures. ...

The market data page is currently experiencing delay issues which are being addressed. In today’s Morning Brief, the November Consumer Price Index shows a 12-month inflation rise to 2.7% with core inflation sticking to 3.3%. The upcoming Federal Reserve meeting presents a potential upheaval, with a divisive debate over cutting rates or maintaining them. RSM chief economist, Joe Brusuelas, refers to this scenario as a “regime change” in economics, implying the new, unfamiliar era post-pandemic, characterized by rising costs and differing politics, could eventually lead to higher interest rates and inflation. ...

I was doing some research on German immigration trends and found this image. It’s attributed to the Vox publication but I can’t find much more info on it. Need to dig for the data.

Billionaire Peter Thiel, a powerfully entrenched oligarch with deep ties to CIA-backed data mining tech company Palantir, recently exemplified plutocrat paranoia when he stuttered through a response to Piers Morgan’s question about public support for the murder of a health insurance CEO. The article explores the idea that individuals like Thiel fear the vast numbers and potential power of ordinary people. Thiel, who owes his fortune to his connection with the US military-intelligence machine, is acutely aware that the public can turn against them at any time. It is suggested that ruling class figures spend significant time trying to manipulate public consciousness due to fear for their personal safety and the preservation of their status quo politics. ...

The chart illustrates the relationship between money market fund assets, the U.S. jobless rate, and recession periods over the past few decades. Historically, sharp increases in money market fund assets (blue line) often coincide with economic uncertainty as investors move towards safer, liquid investments. Simultaneously, the jobless rate (green dashed line) tends to spike during recessions, indicated by the shaded gray areas. For instance, during the 2008 financial crisis and the 2020 COVID-19 pandemic, we observe a surge in money market fund assets and a corresponding rise in unemployment rates. Both indicators reflect investor and consumer fear, as well as economic contraction. ...

Suchir Balaji, a former OpenAI employee and whistleblower, was found dead in his apartment in San Francisco. The Office of the Chief Medical Examiner identified Balaji and declared his death as suicide. His death comes following his revelations about AI creators OpenAI allegedly infringing on copyright laws, which he shared in an interview with The New York Times. Balaji had concerns about the harm the technology might bring to society and resigned from the company after four years of service. ...

OpenAI recently announced the complete roll out of Canvas, its editing workspace initially launched as a beta for select users. Now accessible to all subscribers, Canvas allows smooth collaboration with ChatGPT and also introduces the ability to execute Python code directly within the interface. Integrated with custom GPTs, Canvas aims to aid users with dynamic AI support in a more efficient manner, providing a more versatile platform for developers, writers, and professionals. The dual panel setup allows iterative refinement of text or code and offers comprehensive text editing and debugging capabilities, including tone adjustment, structural modification, and enhanced readability. ...