Trader Nerd

  The $2000 vs $600 fight escalates. Vandals lashed out at the leaders of the U.S. House and Senate over the holiday weekend, blighting their homes with graffiti and in one case a pig’s head as Congress failed to approve an increase in the amount of money being sent to individuals to help cope with the coronavirus pandemic. On New Year’s Day, Senate Republicans refused to allow debate over a bill to increase the amount of Covid-19 relief . The increase, supported by President Donald Trump , passed the Democratic-led House but was blocked by McConnell. Spray paint on Senate Majority Leader Mitch McConnell’s door in Kentucky on Saturday read, “Weres my money.” “Mitch kills the poor” was scrawled over a window. A profanity directed at the Republican senator was painted under the mailbox. At House Speaker Nancy Pelosi ’s home in San Francisco, someone spray-painted graffiti and left a pig’s head and fake blood on New Year’s Day, police said. The vandalism was reported around 2 a.m.

“$2,000 + $2,000 plus other family members. Not $600!”. Thus spoke President Trump, who refused to sign an end of year Covid relief and spending bill that had been considered a done deal before his objections. The fate of the bipartisan package remained in limbo Sunday as Trump continued to demand larger Covid relief checks and complained about “pork” spending. Without the widespread funding provided by the massive measure, a government shutdown would occur when money runs out at 12:01 a.m. Tuesday. Trump assailed the bill’s plan to provide a mere $600 Covid relief checks to most Americans —  insisting it should be $2,000 . House Republicans swiftly rejected that idea during a rare Christmas Eve session. But Trump has not been swayed. “I simply want to get our great people $2000, rather than the measly $600 that is now in the bill,” Trump tweeted Saturday from Palm Beach, Florida, where he is spending the holiday. “Also, stop the  billions of dollars  in ‘pork.’” Joe Biden called on Tr

Apple Inc. has told suppliers to increase production of the latest iPhone 11 and iPhone 11 Pro lineup by as much as 10%, the Nikkei Asian Review reported. The bump in production would add up to 8 million units to the current production plans as Apple seeks to meet stronger-than-expected demand. The increase may validate Chief Executive Officer Tim Cook ’s strategy of offering budget-conscious consumers less expensive models amid signs of a weakening economy, it said. Major improvements to the iPhone’s camera, including the addition of a new ultrawide camera for better architectural and tourist photos, alongside better battery life and improved durability may have resonated with consumers. The entry point for new iPhones was also lowered for the first time, with the iPhone 11 starting at $699 or $50 less than its predecessor. With the increase in production, Apple is anticipating selling more iPhones in the closing months of this year than it did during the

Bitcoin to hit $250,000 by 2022? Investor Tim Draper thinks that is a conservative prediction. “$250,000 means that bitcoin would then have about a 5% market share of the currency world and I think that may be understating the power of bitcoin.” The venture capitalist said he may have underestimated bitcoin when he previously predicted it will reach $250,000 – a figure he first forecast when bitcoin was worth around $5,000 in 2018. A remarkable resurgence in 2019 means bitcoin is currently trading at just above $10,000, though it remains a long way off its record high from December 2017 of nearly $20,000. Speaking to cryptocurrency news show Blocktv, Draper said his previous price predictions had come true and that his latest one may even fall short of bitcoin’s eventual value. “As it becomes easier for people to use… they’re going to make the decision that they like bitcoin better than any fiat because they know that their fiat will depreciate in value.” Draper’s forecast pl

Trade war takes its toll. China’s exports unexpectedly fell in August while imports shrank for a fourth month, pointing to further weakness in the world’s second-largest economy and underlining a pressing need for more stimulus as the Sino-U.S. trade war escalates. Containers are seen at a port in Lianyungang, Jiangsu province, Beijing is widely expected to announce more support measures in coming weeks to avert the risk of a sharper economic slowdown as the United States ratchets up trade pressure, including the first cuts in some key lending rates in four years. On Friday, the central bank cut banks’ reserve requirements for the seventh time since early 2018 to free up more funds for lending, days after a cabinet meeting signaled that more policy loosening may be imminent. August exports fell 1% from a year earlier, the biggest fall since June, when it fell 1.3%, customs data showed on Sunday. Analysts had expected a 2.0% rise in a Reuters poll after July’s 3.3% gain. Tha

Peter Buck is an American top restauratuer, physicist and philantropist. He co-founded the Subway fast food restaurant chain. Buck was born in South Portland, Maine, in 1930. He was graduated from Bowdoin College in Brunswick, Maine, in 1952. He then earned master’s and doctoral degrees in physics at Columbia University. While working as a nuclear physicist for several companies from 1957 to 1978, Buck loaned partner and family friend Fred DeLuca $1,000 in 1965. Buck advised him to open a sandwich shop to help him pay for college at the Univeristu of Bridgeport in Bridgeport, Connecticut. They named the restaurant after Buck , calling it “Pete’s Super Submarines”. Together Buck and De Luca formed Doctor’s Associates to oversee operations of the restaurants as the franchise expanded. Though neither the first nor the second restaurants were financial successes, they continued to expand their operations. By 1973, they had 16 locations throughout Connecticut and, in 1974, they began fra