Semiconductor Stocks Roll Over, Micron & Broadcom Tank 20% in 2 Days, Drag Rest of Market Along

Waste Of The Day: Mismanagement At SF Zoo Authored by Jeremy Portnoy via RealClearInvestigations, Topline: The taxpayer-funded San Francisco Zoo "does not have a healthy or stable financial condition," according to a city audit released in May. The zoo has no written plans or budgets to guide its construction projects, and spent $12 million on them without city approval. Employees are also allegedly hiring their friends and relatives as contractors. Key facts: The zoo is required to get approval from San Francisco's Recreation and Park Commission before paying more than $50,000 for a construction project. But employees never did so while spending millions on a new "Madagascar Center" and other huge projects, auditors found. There is also a "widespread view among staff that [the zoo] has a toxic workplace environment," according to the audit. Employees were allegedly cho

Trump’s economic chief says inflation is falling. Data says otherwise  AOL.com

Trump Tells "Less Shackled" Pulte To Fire Intelligence Officials As Senate Blocks FISA Extension When has the Senate ever not increased government spy powers? When President Trump installs Bill Pulte as acting DNI and instructs him to start kicking hornet nests, apparently.   In a WSJ interview published Friday, Trump revealed he has directed incoming acting Director of National Intelligence Bill Pulte to begin the process of firing a large number of employees as part of a major shake-up of the U.S. intelligence community. Trump described the Office of the Director of National Intelligence (ODNI) as “unnecessary and/or too big” and said he wants it made “much smaller” - and possibly even terminated. “I’d like to see it smaller. I think there are a lot of people in there that shouldn’t be there,” Trump said, targeting holdovers from prior administrations. He told Pulte to “start the process” of firings, noting that Pulte’s acting status makes him “less shackled” and gives him more power in the short term to do the “hard work” of downsizing before a permanent director is confirmed. Trump compared the approach to Education Secretary Linda McMahon’s efforts to shrink her department.

Federal Reserve balance sheet shrinks again as reserve balances drop $52.7B in a single week  Crypto Briefing

Breaking News: Stocks slumped after stronger-than-expected jobs data raised expectations that the Federal Reserve will keep interest rates elevated.  Facebook

New Fed Chair Confronts 'Baptism by Fire' Amid Renewed Rate Hike Discussions  Investopedia