Jamie Dimon warns Mamdani: Ideology dooms mayors
Good policy is free and politicians should fix existing rules rather than raise taxes
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Dimon warns Mamdani: Ideology dooms mayors
JPMorgan Chase CEO Jamie Dimon described a pleasant private meeting with New York City Mayor Zohran Mamdani, warning that ideology can blind leaders to practical policy and cause mayors to fail abysmally when running a city of 300,000 employees.
Mayors Risk Ideological Failure: Dimon has seen some fail spectacularly when ideology overrides realistic, real-world policy while others grow successfully into the demanding role.
Private Meeting Called Pleasant: The CEO said he told Mamdani everything he wanted during their one-on-one session at JPMorgan headquarters and offered help with good initiatives.
Policy Over Taxes Urged: Dimon stressed good policy is free and politicians should fix existing rules rather than raise taxes or spend more to accelerate economic growth.
City Competitiveness Highlighted: Conversation focused on quality-of-life factors like crime, police, sanitation and hospitals alongside taxes, red tape cuts and public-private partnerships.
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The U.S. Debt Bomb Is Ticking — Your Wealth Could Be the Next Victim
Did you know that America is currently heading toward bankruptcy?
There’s a silent financial heist happening right now across the United States.
No ski masks.
No bank vaults.
Just a history of bad policy, inflation, and economic mismanagement—quietly draining the wealth of everyday Americans…being wasted by direct taxation or inflation.
Bessent dismisses 2028 Run speculation
Treasury Secretary Scott Bessent jokingly dismissed questions about 2028 presidential ambitions while filling in at the White House briefing room, joking that his podium appearance simply meant others had run out of options on the food chain.
Briefing Room Stand In: Bessent spoke over 30 minutes on Iran negotiations and upcoming Trump Accounts for children while substituting for the press secretary on maternity leave.
2028 Contenders Context: He followed Vice President Vance and Secretary of State Rubio, both viewed as potential Republican frontrunners for the 2028 nomination.
Poll Numbers Revealed: Emerson College survey of likely GOP primary voters showed Vance at 35.5 percent and Rubio at 34.6 percent support.
No Ambition Signal: Bessent shook his head and smirked in direct response to the question about his own possible White House run.
Fed Governor opposes rate hikes on inflation spike
Federal Reserve Governor Michelle Bowman cautioned against raising interest rates to combat the current energy-driven inflation spike, saying such moves would add unwarranted restraint on economic activity and labor markets.
Energy Shock Policy Caution: Bowman stated that reacting to temporary elevated energy prices would unnecessarily weigh on economic activity and labor market conditions.
Inflation Readings Mixed: April PCE index rose 3.8 percent overall and 3.3 percent core while the trimmed mean measure sits closer to the 2 percent target at 2.3 percent.
Duration Of Conflict Key: She noted her approach could shift if the Iran conflict prolongs and inflation pressures steepen further.
Supports Current Guidance: Bowman backed keeping language in the recent Fed statement indicating the next rate move could still be a cut.
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Oil plunges 20% from highs on Iran ceasefire hopes
Global oil prices have dropped nearly 20 percent from 2026 peaks amid optimism over a potential 60-day U.S.-Iran ceasefire memorandum that could reopen the Strait of Hormuz for energy shipping.
Brent Crude Down Sharply: The global benchmark fell 1.2 percent Friday to $92.56 and almost 19 percent for May, its worst month since the Covid pandemic.
WTI Futures Also Lower: U.S. West Texas Intermediate prices dropped 16.5 percent month-to-date and nearly 2 percent lower Friday at $87.18.
Sixty Day MOU Agreed: The U.S. and Iran have mostly agreed on terms for a 60-day pause in hostilities, pending final approval from President Trump.
Strikes Continue Despite Talks: Iranian forces fired missiles at Kuwait and drones toward the Strait even as prospects improve, with crude loadings remaining extremely low.
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Dell stock soars 32% on AI boom, analysts left “eating our humble pie”
Dell Technologies shares surged 32 percent Friday, on track for its best day ever, after reporting explosive first-quarter growth led by artificial intelligence server demand.
AI Server Revenue Explodes: Dell’s AI server sales jumped 757 percent year over year to $16.1 billion in the quarter.
Total Revenue Up 88 Percent: Overall quarterly revenue soared nearly 88 percent compared to the prior year, the fastest pace since returning to public markets in 2018.
Earnings Beat Expectations: Adjusted earnings per share reached $4.86, comfortably exceeding analyst estimates of $2.94.
Analysts Impressed By Results: Morgan Stanley admitted underestimating the quarter and placed its model and price target under review.
Blue Origin rocket explodes spectacularly during test
Blue Origin’s New Glenn rocket exploded on the launch pad during a hot-fire ground test in Cape Canaveral, Florida, with founder Jeff Bezos confirming all personnel safe and no threat to the public.
Bezos Confirms All Safe: The Amazon founder stated it is too early for the root cause but the team will investigate, rebuild whatever is needed and return to flying.
NASA Assessing Artemis Impact: The agency is evaluating effects on plans to return astronauts to the moon in 2028 and its moon base program.
Musk Comments on Incident: SpaceX CEO Elon Musk responded to the explosion by noting that rockets are hard.
Contract Awarded Recently: NASA had just awarded Blue Origin a $188 million contract to help build the moon base days before the incident.
Warren demands “AI Tax” to fund people
Sen. Elizabeth Warren called for taxing the artificial intelligence industry, starting with an excise tax on energy used by data centers, to let families recoup some AI gains while America stays competitive in the technology race.
Warren Targets Data Centers: The senator proposed a reasonable excise tax on energy consumed by AI data centers that scales with size so bigger facilities pay more.
Tax Code Reform Urged: She argued the current system penalizes hiring humans with payroll taxes while rewarding AI equipment investments and needs leveling by raising corporate and capital gains taxes.
Wealth Tax Advocated: Warren asserted AI billionaires avoid taxes on massive stock valuations and a wealth tax is now essential in an AI world.
Bold Ideas Embraced: The lawmaker said policymakers should not fear bigger proposals to tax AI even if they sound radical today but may soon become common sense.
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Marxist and muslim anti Christian’s and Jew ideology coupled with incompetence in jobs creation or common sense creates a problem for all New Yorkers concerned !!
People should obey the law and follow Christ.