Your Morning Snippets – August 13, 2021
On this day in 1979, BusinessWeek’s cover proclaims THE DEATH OF EQUITIES: “Only the elderly, who have not understood the changes in the nation’s financial markets, or who are unable to adjust to them, are sticking with stocks…. the U.S. economy probably has to regard the death of equities as a near-permanent condition — reversible some day, but not soon…. It turns out that this “near-permanent condition” will last three years to the day.
The infamous cover went on to precede a multi-decade bull market that is still powering on.
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Your Morning Snippets – August 12, 2021
On this day in 1920, Charles Ponzi is arrested for financial fraud in Boston after taking in more than $6 million from thousands of investors. He repaid each $1,000 invested with $1,500 just 90 days later–but only by taking more money from newcomers.
Continue reading “Toll Gates Are Coming Back On Federal Roads”
Your Morning Snippets – August 10, 2021
Did you know that the Cotton candy was invented by a dentist. It is not known whether William Morrison had an ulterior motive for inventing the soft confection, but the dentist no doubt helped ensure others in his profession continued drawing in plenty of customers.
Continue reading “Lagos assumes full ownership of Lekki Concession Company”
Your Morning Snippets – August 09, 2021
On this day in 1936, during the Berlin Olympics, African American track star Jesse Owens wins his fourth gold medal of the Games in the 4×100-meter relay. His relay team set a new world record of 39.8 seconds, which held for 20 years.
Continue reading “Invesco files with SEC for Bitcoin ETF without direct BTC exposure”
Your Morning Snippets – August 06, 2021
On this day in 1945, the United States becomes the first and only nation to use atomic weaponry during wartime when it drops an atomic bomb on the Japanese city of Hiroshima.
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Your Morning Snippets – August 05, 2021
On this day in 1861, President Lincoln imposes the first federal income tax by signing the Revenue Act. Strapped for cash with which to pursue the Civil War, Lincoln and Congress agreed to impose a 3 percent tax on annual incomes over $800.
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Your Morning Snippets – August 04, 2021
On this day in 1961, Barack Obama, 44th United States President (Democrat: 2009-17) and first African-American president was born in Honolulu, Hawaii. Happy 60th Birthday, President Obama.
Continue reading “Nigeria Gets $3.35bn in IMF’s Historic $650bn SDR Allocation”
Your Morning Snippets – August 03, 2021
On this day in 1914, two days after declaring war on Russia, Germany declares war on France, moving ahead with a long-held strategy, conceived by the former chief of staff of the German army, Alfred von Schlieffen, for a two-front war against France and Russia. Hours later, France makes its own declaration of war against Germany, beginning World War I.
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Your Morning Snippets – August 02, 2021
On this day in 1776, members of Congress affix their signatures to an enlarged copy of the Declaration of Independence. Fifty-six congressional delegates in total signed the document, including some who were not present at the vote approving the declaration.
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Your Morning Snippets – July 30, 2021
On this day in 2003, the last of 21,529,464 Volkswagen Beetles built since World War II rolls off the production line at Volkswagen’s plant in Puebla, Mexico. One of a 3,000-unit final edition, the baby-blue vehicle was sent to a museum in Wolfsburg, Germany.
Continue reading “Robinhood has a muted stock market debut”