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“There are,’’ the Bank of England warns, “more consequences from falling prices than meets the eye.’’What could be so bad about lower prices? It is only now emerging from decades of falling prices that began with the collapse of its property and financial markets in the early 1990s. Mainly because falling prices tend to discourage consumers from spending. Why buy now, after all, if you can purchase what you want — cars, furniture, appliances, vacations — at a lower price later? If consumers were to pull back, en masse, to await lower prices, businesses would face intense pressure to cut prices even more to try to jump-start sales.

Persons: they're, that's, what's, Joe Biden's, ’ ’ Lisa Cook, “, United States hasn’t, Tom Krisher Organizations: WASHINGTON, Federal Reserve's Board of Governors, Bank of England, United, España, Unemployed, Bank of Japan, Fed, Bank for International, AP Locations: America, United States, Japan, Spanish, Detroit

☆ Rubio dismisses concerns about Trump’s NATO remarks as backlash mounts
▼ + stars: | 2024-02-11 | by ( Avery Lotz | ) edition.cnn.com time to read: +3 min

CNN —GOP Sen. Marco Rubio defended former President Donald Trump’s controversial comment that he would encourage Russia to do “whatever the hell they want” to a NATO member country that didn’t meet defense spending guidelines. Rubio went on to note that the US did not leave NATO during Trump’s presidency — though Trump made private threats about withdrawing multiple times, according to The New York Times. “Donald Trump is not a member of the Council on Foreign Relations,” Rubio told CNN’s Jake Tapper. NATO has a target that each member country spends a minimum of 2% of gross domestic product on defense, and most countries are not meeting that target. They’re attacking Donald Trump,” Rubio said.

Persons: GOP Sen, Marco Rubio, Donald Trump’s, “ That’s, that’s, Rubio, —, Trump, “ Donald Trump, ” Rubio, CNN’s Jake Tapper, “, ”, ” Trump, haven’t, “ Trump’s, Nikki Haley’s, Michael, They’re, Donald Trump, Tapper, Sen, John McCain —, ” —, CNN’s Serena Golden, Kate Sullivan Organizations: CNN, GOP, NATO, Florida Republican, CNN’s, Trump’s, The New York Times, Foreign Relations, Senate Intelligence, White House, Biden Locations: Russia, Florida, CNN’s State, Conway , North Carolina

☆ Opinion | The G.O.P.’s ‘Nasty’ New Religion
▼ + stars: | 2024-01-18 | by ( Frank Bruni | ) www.nytimes.com time to read: +1 min

I’m still stuck on what happened before:We saw just how faithfully the Republican Party now worships at the church of nasty. He called Hillary Clinton a “nasty woman” back in the day. Nikki Haley and Ron DeSantis got the “nasty” memo. In Iowa, they were campaigning, at least theoretically, as alternatives to Trump, so you would have expected them to be less, well, nasty. Both DeSantis and Haley wagered that in their party today, remade in Trump’s image, that behavior wouldn’t seem cheap and desperate.

Persons: We’ve, I’m, nastiness, Donald Trump, Hillary Clinton, Trump, Nikki Haley, Ron DeSantis, —, DeSantis, Haley, Haley wagered Organizations: Republican Party, Trump Locations: Iowa

☆ Disgraced Nikola founder's argument for why he should avoid jail: He's no Elizabeth Holmes
▼ + stars: | 2023-11-17 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Trevor Milton's lawyers say he should avoid prison because his fraud conviction is not like that of Elizabeth Holmes. Holmes was convicted on charges that she defrauded investors in blood-testing company Theranos. Milton was convicted on charges that he duped investors with exaggerated claims about zero-emission Nikola trucks. Court officials have calculated federal sentencing guidelines to recommend between 17 1/2 years and 22 years in prison, although Milton's lawyers object to the calculations, saying they substantially overstate the seriousness of the crimes. "Unlike Holmes, Trevor never put Nikola's customers at risk, whereas Holmes touted and used blood-testing technology that she knew to be unreliable, thus putting human beings at medical risk," the lawyers said.

Persons: Trevor, Elizabeth Holmes, Holmes, Milton, —, truckmaker Nikola, Trevor Milton, nastiness, Nikola, Milton's, Nikola — Organizations: Service, truckmaker, truckmaker Nikola Corp, Wall, The Associated Press, General Motors Corp, Securities and Exchange Commission, Nikola Locations: Manhattan, tatters, Utah, Arizona

☆ Finland Will Close 4 Border Crossings With Russia to Stem Migrants
▼ + stars: | 2023-11-16 | by ( Johanna Lemola | Cassandra Vinograd | ) www.nytimes.com time to read: +1 min

Finland said on Thursday that it was closing part of its border with Russia after a dramatic increase in migrant crossings that it blamed on Moscow, the latest sign of deteriorating relations between the neighbors since the Russian invasion of Ukraine. The announcement followed days of warnings from the authorities in Finland over an increase in crossings, which President Sauli Niinisto of Finland on Wednesday suggested was retaliation from Moscow for Finland’s decision to join NATO. Prime Minister Petteri Orpo said at a news conference on Thursday that Finland was closing four crossings on its eastern border starting at midnight on Friday. The government wanted to “react strongly,” he said, to what it viewed as “organized activity” by Russia. “Therefore we have been prepared for various action from Russia, nastiness, and this situation does not come to us as a surprise.”

Persons: Sauli Niinisto, Petteri Orpo, ” Organizations: NATO Locations: Finland, Russia, Moscow, Ukraine, “ Finland

NEW YORK (AP) — Lawyers for the founder of truckmaker Nikola Corp. say he should not face incarceration because his fraud conviction is nothing like the fraud that landed Theranos founder Elizabeth Holmes in prison. Milton, 41, was convicted last year of fraud for duping investors with exaggerated claims about his company’s production of zero-emission trucks. Holmes, 39, is serving an 11-year sentence for defrauding investors in the blood-testing company Theranos. “Unlike Holmes, Trevor never put Nikola's customers at risk, whereas Holmes touted and used blood-testing technology that she knew to be unreliable, thus putting human beings at medical risk,” the lawyers said. Lawyers for Holmes did not immediately comment.

Persons: truckmaker Nikola, Elizabeth Holmes, Trevor Milton, nastiness, ”, Milton, Holmes, Trevor, CNBC’s, Nikola, “ Trevor, Milton’s, Nikola —, — Organizations: —, truckmaker, truckmaker Nikola Corp, Wall, The Associated Press, General Motors Corp, Securities and Exchange Commission, Nikola Locations: Manhattan, ”, tatters, Utah, Arizona

☆ Opinion | The Road From Mitt Romney to MAGA
▼ + stars: | 2023-09-18 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

So Mitt Romney is retiring from the Senate. Yet some of the commentary I’ve seen about Romney comes close to hagiography, which he doesn’t deserve. It’s good to see Romney speaking up now, but the party he’s criticizing is in large part a monster that people like him helped create. But eventually the extremists they thought they were using ended up ruling the party. Before I get into that, let me take on the widespread myth that Romney lost the 2012 election because he was the victim of a smear campaign, and that Democratic nastiness radicalized the G.O.P., paving the way for Donald Trump.

Persons: Mitt Romney, Romney, Donald Trump Organizations: Senate, Romney, Republican Party, Democratic

☆ Senators thrashed by Trump in 2016 urge DeSantis to strap in for a 'wild and woolly' ride in 2024 presidential race
▼ + stars: | 2023-02-21 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

The 2024 Republican presidential primary is just getting started. "This is gonna be a wild and woolly race," 2016 challenger Ted Cruz told Insider. "Oh, this is gonna be a wild and woolly race," chastened Trump challenger Sen. Ted Cruz before leaving DC for the Presidents' Day recess. 2016 presidential candidate and Republican Sen. Lindsey Graham of South Carolina downplayed the initial nastiness, urging DeSantis to focus on the long-game. Republican Sen. Marco Rubio of Florida initially declined to comment on the Trump-DeSantis tug-of-war, telling Insider, "I'm not talking about the campaigns right now."

☆ Bill Barr says that Trump 'has been fading for months' and should 'stand aside' following the former president's announcement to run again
▼ + stars: | 2022-11-19 | by ( Taylor Ardrey | ) www.businessinsider.com time to read: +2 min

Former Attorney General Bill Barr said Trump has been "fading for months" during an interview with PBS. "He didn't do what the whole country hoped," Barr said. It comes after Trump announced a 2024 White House bid. PBS' Margaret Hoover also asked Barr about his reaction to Trump announcing that he was running for office again. Earlier this week, Trump announced he's taking another shot at the Oval Office, stating in his speech: "America's comeback starts right now."

Olivia Wilde and Jason Sudeikis have released a joint statement in response to allegations their ex-nanny made about the rocky dissolution of their relationship. While directing the film, which opened in theaters last month, Wilde began a relationship with one of its stars, Harry Styles. "As parents, it is incredibly upsetting to learn that a former nanny of our two young children would choose to make such false and scurrilous accusations about us publicly. Her now 18-month-long campaign of harassing us, as well as loved ones, close friends and colleagues, has reached its unfortunate apex," Wilde and Sudeikis said in a joint statement Monday. It was really upsetting.

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