News Story of the Day: The blue pearl of the cosmos might as well be the red pearl of space since it is drowning in red ink.
According to a new report by the Institute of International Finance (IIF), global debt topped $250 trillion in the first half of 2019, a fresh record high. What is interesting is that just two nations accounted for nearly two-thirds of new borrowing: China and the United States.
The report found that borrowing by governments, non-financial businesses, and households represents more than 240 percent of the world’s gross domestic product. What’s even more damning is the fact that this is growing faster than the global economy.
Chart of the Day: Global financial markets are optimistic again. Do lower interest rates have anything to do with it? An apparent winding down to the U.S.-China trade dispute? Whatever the case, investors are bullish, according to these charts by The Economist:
Illustration of the Day: This week’s impeachment hearings harmed the Democrats more than they hurt President Donald Trump. The entire basis of the two star witnesses is that they heard something from somebody else who heard from another person that the president said something. It’s pretty bad. Will this secure Trump’s re-election in 2020?
Quote of the Day: Did you hear? Cenk Uygur is running for public office. Be ready for some f-bombs for real talk! But in this day and age of the left’s cancel culture, shouldn’t he be run out of town already? Jeff Charles of Liberty Nation wrote something delicious about Uygur’s history of blogging about kissing many women, claiming they are inferior, and trying to sleep with underage girls (pervert):
Well, if we are to abide by the rules of cancel culture, Uygur shouldn’t stand a chance, right? In fact, he probably won’t get any support from the progressive left even though these writings are about 20 years old. Nah. Rather than being canceled, his decision to run for office is being celebrated by people on the left.
Tweet of the Day: Is the public interested in the impeachment hearings? The data suggest otherwise:
Fun fact! ABC had 2 million total viewers for the hearings Wednesday, BUT…
that’s 1 million fewer than tuned into Don Jr. on The View last week.
The ratings ABC got Wednesday, were lower than the lowest-rated daytime soap opera on television, Days of Our Lives, averaged on NBC.— NewsBusters (@newsbusters) November 15, 2019
Video of the Day: Richard Wolff and Gene Epstein participated in a new Soho Foruma that debated capitalism vs. socialism. Here is the event:
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