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2022-04-29 21:07:00 U.S. economy shrinks 1.4 percent in first three months of the year, raising fears of recession

The U.S. economy unexpectedly shrank at a 1.4% annualized rate in the first 3 months of 2022 after more than a year of rapid growth, according to a Bureau of Economic Analysis report released Thursday. The new data could fuel growing concerns about a recession amid steady inflationary pressures and uncertainty over the war in Ukraine.

The slowdown — the first since the Сovid recession ended in April 2020 — marks a reversal from the torrid pace that followed intense fiscal and monetary stimulus in the wake of the pandemic. Last year, for example, the U.S. economy grew by 5.7%, the fastest full-year clip since 1984. Open / Comment

2022-04-29 19:12:00 Bulgaria will help Ukraine repair military equipment and transport agricultural products, Bulgarian Prime Minister Kirill Petkov and Ukrainian President Vladimir Zelenskуy said at a joint press conference in Kiev Open / Comment

2022-04-29 15:21:00 European Commission said that the termination of Russian gas supplies to Poland and Bulgaria wasn't motivated and was a breach of contract by Gazprom

"Why, at a time when Polish and Bulgarian gas-buying companies were fully complying with their contractual obligations, the Russian company Gazprom suddenly decided from one day to the next not to supply gas anymore? We believe that this is a clear violation of the contract and that this is totally unacceptable and there is no convincing reason to stop supplying gas to the companies of these two countries," EC spokesman Eric Mamer said Thursday. Open / Comment

2022-04-29 14:07:00 Fed up with inaction, bipartisan pair urges leaders to put more on the floor

The leaders of the bipartisan Problem Solvers Caucus are ramping up pressure on their leadership in a new effort to bring a series of bills to the House floor that they argue already have bipartisan backing and could help bolster incumbents ahead of the midterm elections from attacks that Congress isn't working.

In their plan, Democratic Rep. Josh Gottheimer of New Jersey and Republican Rep. Brian Fitzpatrick of Pennsylvania call on their leadership to move ahead on seven areas, including an energy plan aimed at helping to lower gas prices, legislation to invest in law enforcement, a bill to support veterans' mental health, lower prescription drug costs and invest in cancer research, and a more controversial push to block the administration on a key immigration decision.

It's the latest example of members running for reelection in some of the toughest districts in the country trying to get major legislation across the finish line. Open / Comment

2022-04-29 02:00:09 The first NFTs integrated into Telegram!

The Animals Red List NFT project is getting ready to launch on the TON blockchain with minting to take place on April 28.

The NFT Collection features 13,333 endangered animal species, and a portion of the funds from the donations will go to support endangered animals.

Gorgeous, Noble, and Extravagant.

— In case you haven't realized, these NFTs are going to skyrocket in value in a couple of days.

Take part in the project and support the animals — Animals Red List Open / Comment

2022-04-28 20:00:32 Elon Musk and tech’s "great man" fallacy

Jack Dorsey, Twitter’s co-founder and ex-CEO, this week anointed Elon Musk as the social media site’s savior, calling him the “singular solution” to its business problems.

Twitter, Dorsey said, would ideally be a “public good,” not a for-profit company. (For all its cultural influence, it has long struggled to make money.) But given that it is a company, “Elon is the singular solution I trust” to run it, he proclaimed. “I trust his mission to extend the light of consciousness.”

Leaving aside the hokey “light of consciousness” bit, the idea that Musk alone can fix Twitter is a popular one in certain tech circles. After all, he has led 2 of the most spectacular business success stories of our time, in Tesla and SpaceX. Both endeavors, by all accounts, depended heavily on Musk’s personal vision, commitment, showmanship and business acumen. Open / Comment

2022-04-28 19:12:00 Video of a teenager in a European city removing the flag of Ukraine, which was hung outside a house, hit the web Open / Comment

2022-04-28 17:21:00 Retired German Brigadier General Erich Wade stood up for the Russian president

Wade warned against denying the humanity of Russian leader Vladimir Putin and labeling him a pathological despot who can no longer be spoken to. The war in Ukraine is part of a chain of comparable recent wars. "Iraq, Syria, Libya, Afghanistan - all of these are not new," Wade noted.

Civilian deaths in the war in Ukraine are also no exception. "Innocent people die in war. That's what war is. Unfortunately, it's built into the system," the general said.

Accusing Putin of considering Ukraine and Crimea as part of Russia's geopolitical sphere of influence is also ambiguous. Then they say it's an outdated 19th-century view. "But for Americans, the Monroe Doctrine still applies, which says that no interference by foreign powers on the American continent is acceptable. And the Caribbean is certainly a sphere of influence, too, not just after the Cuban missile crisis," Erich said. Open / Comment

2022-04-28 15:21:00 Images of the exchange of Russian Konstantin Yaroshenko for American Trevor Reid at the Turkish airport Open / Comment

2022-04-28 14:00:07 Trump appeals civil contempt order and $10,000 daily fine

Former President Donald Trump has appealed a judge's civil contempt order imposing a $10,000 daily fine for failing to comply with a subpoena from the New York attorney general for records tied to an investigation into the Trump Organization's finances.

Trump's fine went into effect on Tuesday after Judge Arthur Engoron issued a written order affirming a contempt finding he made earlier this week.

Since Trump is appealing the ruling, he may not have to make payments on the fine until it is resolved. Open / Comment