Economic Overview - The US experienced a period of prosperity and social progress with low unemployment and a booming economy [1] - A serious financial crisis emerged, with overvalued houses and potential mortgage problems [2] - The economic recovery proceeded at a moderate pace, slower than expected, with a manufacturing recession due to the collapse in oil prices [3] - The COVID-19 pandemic caused a rapid shutdown of the economy and the largest unemployment rate since the Great Depression [5] - Inflation started to take hold, leading to nervousness and unhappiness about economic situations [5] Monetary Policy and Fiscal Spending - Interest rates are surprisingly low despite high budget deficits and debt [7] - The US spent too little during the financial crisis and too much during COVID-19 [9] - Running $2 trillion deficits in a growing economy is not advisable [9] - The benefits of economic stimulus tended to favor those with capital [10] - The Federal Reserve focused on getting inflation up by 01%-02% before realizing inflation was not dead [13] Inflation and Globalization - Globalization, particularly China's entry into the WTO, and increased immigration kept inflation down for two decades after 2000 [15][16] - COVID-19 and restrictions on immigration have put upward pressure on goods prices and wage inflation [17] - De-globalization and immigration restrictions could drive wages up, while AI's impact remains uncertain [17][18] European Economy - The Eurozone crisis, triggered by imbalances, led to painful adjustments in countries like Portugal, Greece, Spain, and Ireland, but also some convergence [24] - The EU is slowly moving towards fiscal coordination, but politics lags behind economics [25][26] - Brexit has negatively impacted the UK economy, potentially reducing GDP by 5%-7% [27][28] - Europe's growth rate is projected to be no more than 1%, possibly around 05% per year [30]

On this edition of Next Africa, the continent's booming tech ecosystem, with the rise of several unicorns in recent years, the startup community is finding its feet. Fintech leads the charge with two IPOs on the continent for the first time in more than five years, signaling growing confidence in the scalability of African tech. We speak with AI powered firm Optasia on its expansion push and with unicorn Flutterwave on how it's positioning for growth.Plus, bridging the digital divide, from the startup helpi ...

Redaction Authority & Justification - Congress granted the Department of Justice (DOJ) authority to redact information on limited bases [1] - The DOJ must justify all redactions within 15 days after the complete release of information [2][3] - The timing of the 15-day deadline for justification is unclear due to the incomplete initial release [2][3] Privacy Protection - Redactions include protecting the privacy interests of survivors [2] Information Release & Compliance - The act passed by Congress mandated a release of information on a specific date [3] - The current release is incomplete, raising questions about when the deadline for justifying redactions begins [3]

Document Release & Redactions - The Department of Justice (DOJ) is withholding material based on common law privileges, including work product and deliberative process privileges, beyond reasons specified in the Epstein Act [2] - The Act requires DOJ to justify all redactions within 15 days after the completion of information release [7] - The completeness of the disclosure is questionable, requiring careful scrutiny [4][5] - Redactions are extensive, with some full pages completely blacked out [9] - The justification for redactions may face challenges, potentially through political recourse by Congress [10][11] Expectations vs Reality - Expectations were set by the Attorney General and President Trump regarding the release of all files and the existence of a client list [14] - The released material may not meet those expectations [15] - The DOJ review did not uncover evidence to predicate investigations against uncharged third parties or credible evidence of blackmail [17] - The DOJ maintains its position that it lacks sufficient information to criminally charge additional individuals [19] Required Disclosures - The DOJ is required to provide a list of all government officials and politically exposed persons named or referenced in the released material within 15 days after completion of the release [15][16]

Jonathan, you must put up a big fight for this. You go all the way back to what it was at 2018 or so. That first lawsuit filed over what was then a pay plan of like, you know, a couple of hundred billion dollars.Now it's a pay plan of potentially $1,000,000,000,000 here. Does this kind of clear the deck for Tesla and more importantly, for Elon Musk to just kind of go forward now. You know, it's absolutely wild and it's totally unclear to me initially what this means in light of the new pay package.But it ju ...

Megan Scully joins us right now. She's a Bloomberg reporter and she's been helping to pass through the files. And she joins us right now from our Washington bureau.And Megan, first, I want to start off with the idea of exactly what is being released today, because that was under the under the under the understanding that we were supposed to get the full cache of files. Based on the way the law was written. Is that what we're getting today.Absolutely. We were supposed to get the full cache of files. The depu ...

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greifeld here to take you through to the closing bell with a global simulcast. We're joined now by Carol Massar and Tim Stenovec in the radio room.Welcome to our audiences across all of our Bloomberg platforms as we pass the most crucial moments going on in the world of finance. But we do want to start off the simulcast here with a note here about the world of politics. We're now learning based on a headline ...

How much success has China already had in reshaping the the international community. >> I would say much less than we might anticipate. It doesn't seem as though much of the rest of the world is interested in trading the current international system for a Chinaled international system.That being said, if you're looking for Chinese technological influence or economic influence globally, certainly the Belton Road and the digital Silk Road have been transformative. look at Huawei which has you know 70% of the ...

The proof is in the pudding as to whether the algorithm is as powerful. How do you see as someone who's in charge of content development and wanting to get your content out there in a marketing capacity, do you have confidence that will be as good without bite dancers heavily involved. >> Well, I I think it probably will be.There's a lot of intricacies and a lot of um AI that's the the word of the day in that code. And I think that code base being kept intact is crucial. I think had they tried to recreate a ...

I'm thrilled to be joined by the leaders of nine of the world's largest pharmaceutical. Manufacturers, all very big names. Celebrities in their own right agreed to offer many of their flagship drugs, really all of their flagship drugs at heavily discounted most favored nations prices.In other words, whatever the drug sales were over the world, in the world, whatever the lowest number is, if it's Germany, if it's in the U.K., anywhere, we will match that price. ...