The bodies of a British tech tycoon, a Morgan Stanley executive, and five others, including a teenager, have been recovered after the superyacht Bayesian sank off the coast of Sicily...
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| WORDS OF WISDOM | | "I prefer peace. But if trouble must come, let it come in my time, so that my children can live in peace." | | THOMAS PAINE | | Good morning! Today, we are covering 16 states suing the Biden administration over a new amnesty program, RFK Jr.'s exit from the 2024 race, the Fed signaling a rate cut, and how the rail strike in Canada threatens the U.S. economy.
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RFK Jr. Drops Out and Backs Trump Robert F. Kennedy Jr. ended his independent bid for the White House on Friday and endorsed former President Donald Trump. The announcement arrived on the heels of the Democratic National Convention, which concluded on a high note on Thursday with the acceptance speech by Vice President Kamala Harris. In an address at Phoenix, Arizona, Kennedy told his supporters that he and Trump agree on three core issues: the epidemic of chronic diseases in the United States, ending the war in Ukraine, and taking on the corporate-government censorship regime. RFK Jr. said that he looked forward to tackling these problems as part of the Trump administration. "I was surprised to discover that we are aligned on many key issues," Kennedy said. It is unclear what effect the exit by RFK Jr. will have on the head-to-head race between Trump and Harris. The Kennedy-family scion earned an average of 5 percent support among voters in polling. Read the full story here› | |
Fed Signals Rate Cut Employment and inflation data suggest that "the time has come for policy to adjust," Federal Reserve Chair Jerome Powell said on Friday. Speaking at the central bank's annual Jackson Hole Economic Symposium, Powell gave the green light to change the institution's monetary policy. He stopped short of announcing the timing and pace of interest rate cuts, reiterating that the Fed will be data-dependent. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks," Powell stated, adding that the job market is "no longer overheated," and the global supply chain has "normalized." Powell's speech comes as the Fed's preferred inflation gauge—the personal consumption expenditure (PCE) price index—slowed to 2.5 percent. At the same time, the unemployment rate rose to 4.3 percent in July, the highest level since October 2021. Powell attributed the sudden jump in joblessness to more individuals entering or returning to the workforce and a slower pace of hiring. Read the full story here› | |
Canada Rail Strike May Imperil US Canada's railway workers' strike, if not resolved quickly, would have a significant impact on its largest trading partner, the United States. As Canada's largest trading partner by far, the United States accounted for nearly two-thirds of its northern neighbor's $1.5 trillion in worldwide trade in 2022, according to Statistics Canada. Canada's major shipping ports, which are a source of many imports into the United States, are served by the rail systems currently involved in the labor dispute. While Canadian National Railway (CN) workers returned to work on Aug. 23 after a lockout went into effect at midnight on Aug. 22, the workers' lockout at rival Canadian Pacific Kansas City (CPKC) has so far remained in effect. Canada's Teamsters Union, which represents the rail workers, vowed to resume the strike at CN on Monday. CN and CPKC are Canada's two largest rail operators. The U.S. and Canadian Chambers of Commerce issued a joint statement on Aug. 20, saying, "The Government of Canada must take action to ensure goods continue to move reliably between our two countries." Read the full story here› How do you like our new sections? Tell us what you think here. | | MORE TOP NEWS | | | | | | | | | | | | | | HEALTH | | | | | | INSPIRING | | | | CULTURE |  | | Hope in the Night | | Have you ever heard of a "eucatastrophe"? Coined by J.R.R. Tolkien, this term combines the Greek prefix "eu-" (meaning "good") with "catastrophe." Unlike a typical disaster, a eucatastrophe is a sudden, unexpected turn of events that transforms calamity into joy, leaving us astonished and grateful. The concept is deeply embedded in stories, from the near-death experience of Fyodor Dostoevsky to the life-saving bond that founded Alcoholics Anonymous.
But eucatastrophes aren't just for the pages of books—they happen in real life, too. Many of us have experienced moments where despair gives way to unexpected salvation, a reminder that even in our darkest hours, hope can prevail.
Remaining hopeful, alert, and being open to the possibility of eucatastrophe makes all the difference. If you've ever found light in the most unlikely places, this exploration of eucatastrophe will resonate deeply. Are you ready to uncover the profound joy hidden in disaster? What first looks like a nightmare can turn into the happiest of endings. | | | | | EPOCH BUY | | | | EPOCH TV | | | | | | OPINION | | | | | | | | EPOCH FUN | | | | | |
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