February 11, 2019
WHAT’S HAPPENING AROUND HERE
In this world-premiere exhibition at the U.S. Space and Rocket Center, ‘Apollo: When we Went To The Moon’ chronicles the timeline from the beginning of the Space Race – a time when the U.S. and Soviet Union competed over their accomplishments in space exploration – to the collaborative culture of the International Space Station program and beyond. Experience the best of technology and exploration through the eyes of the engineers and in the boots of the astronauts who took us to the moon 50 years ago. Enjoy an Apollo 11 launch experience and explore artifacts and media memorabilia highlighting the turbulent nature of this pivotal era in our history. Saturday, February 16, 2019 – 9:00am to 5:00pm
THIS WEEK’S ECONOMIC DATA
• Weekly jobless claims fell in the first week of February.
ECONOMY AND EQUITY MARKETS
President Donald Trump said he won’t meet Chinese President Xi Jinping before a March 1 deadline to avert new U.S. tariffs on Chinese goods, intensifying fears the two won’t strike a deal before the end of the 90-day trade truce.
INSIDE THE LOOP
Global Rebalancing – Venezuela is in the middle of a power struggle at the highest level, and that could mean trouble for its two biggest foreign allies: China and Russia. The socialist petrostate is home to the largest oil reserves on the planet, but endemic corruption has devastated its economy. Beijing and Moscow have helped the country stave off collapse by repeatedly extending financial lifelines to the tune of tens of billions of dollars over the last decade. For the most part, those oil-for-debt swaps were good for all parties involved. But that may be changing. With the U.S. and others backing opposition leader Juan Guaido as the country’s legitimate president over dictator Nicolas Maduro, it could take longer for Russia and China to get their money back. And in the case of some loans, they may not get anything back at all. Venezuela owes around $100 billion to its external creditors, including China and Russia.
Innovation and Transformation – Biometric systems, which identify people through fingerprints or other physical characteristics, have long been used in law enforcement and consumer electronics products. Now hospitals are using iris and palm-vein scanning to overcome a growing patient-identification problem. Health systems have swelled increasingly large and have millions of patients in their records. One result is that these records often contain thousands of people who share the same name and date of birth with at least one other person in the system. New tools attempt to solve these problems by linking patients’ unique physical characteristics to their medical records. Now, hundreds of hospitals are using biometric technology to help them identify people correctly.
Great American Companies – International Business Machines Corp., (IBM) is plowing $2 billion into a new artificial intelligence (AI) research hub in New York as part of its efforts to boost growth from emerging technologies. The AI Hardware Center at the SUNY Polytechnic Institute campus in Albany, New York, will focus on computer-chip research, development, prototyping, testing and simulation, IBM said in a statement Thursday.
The Top 1% – It takes $478,000 in annual income to make it into the top 1 percent of U.S. earners. That’s close to six times the $81,000 cutoff in India, though less than the $891,000 it takes to get into the top 1 percent in the United Arab Emirates.
Uber Rides – UCLA students call about 11,000 Uber and Lyft rides every week that never leave campus, often using them to get to and from class.
Wednesday: Consumer Price Index, Federal Budget
Thursday: Weekly Jobless Claims, Retail Sales, Producer Price Index
Friday: Industrial Production
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QUOTE OF THE WEEK
“I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.” Albert Einstein
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*Economy and Equity Markets…(Source: Bloomberg)
*Global Rebalancing…(Source: CNBC)
*Innovation and Transformation…(Source: The Wall Street Journal)
*Great American Companies…(Source: Bloomberg)
*The Top 1%…(Source: Bloomberg)
*Uber Rides…(Source: UCLA Daily Bruin)