US Initial Jobless Claims Rise to Highest Level Since June

Source: Bloomberg

“Applications for US unemployment benefits rose to the highest since June, adding to evidence that the labor market is cooling. Initial claims increased by 8,000 to 237,000 in the week ended Aug. 30. The median forecast in a Bloomberg survey of economists called for 230,000 applications. Companies have grown more hesitant about hiring while assessing the economic impact from President Donald Trump’s policies. Hiring plans fell to the weakest level for any August on record in data from outplacement firm Challenger, Gray & Christmas going back to 2009, while intended job cuts rose.” (09/04/25)

https://archive.is/4WRs5

The Everest of Theft

Source: Common Sense
by Paul Jacob

“Civil forfeiture laws allow officers of the law to commit theft. Sometimes they have to return the money they stole. But they don’t get punished. Under civil forfeiture, authorities can grab cash or other possessions without proving criminal wrongdoing and without making an arrest. Since 2000, though, a federal law has made the federal government liable for reasonable attorney fees when a victim ‘substantially prevails’ in court. This law enabled Brian Moore, a rap artist, to eventually obtain compensation for thousands in legal costs after he sued to recover the $8,500 taken from him by federal drug agents. … It was like Mount Everest. The officers took Moore’s stuff because it was there.” (09/04/25)

Thailand’s Cannabis Crusader Rolls Into the Prime Minister’s Chair

Source: US News & World Report

“On Friday, a week after a court decision dismissed Paetongtarn [Shinawatra] as premier and triggered a political maelstrom, parliament overwhelmingly voted to elect Anutin [Charnvirakul] as Thailand’s next prime minister. The 58-year-old’s rise has been decades in the making, starting with his entry into politics with the Thai Rak Thai party founded by Paetongtarn’s billionaire father, Thaksin Shinawatra. … Anutin rose to prominence as health minister for his handling of the COVID-19 pandemic, and championing Thailand’s legalisation of cannabis in 2022.” (09/05/25)

https://www.usnews.com/news/world/articles/2025-09-05/thailands-cannabis-crusader-rolls-into-the-prime-ministers-chair

Putin’s Fear of a Humiliating Economic Crisis

Source: Foreign Policy
by Agathe Demarais

“No one knows what Russian President Vladimir Putin was hoping to achieve when he embarked on a nine-hour flight from Moscow to Alaska to meet U.S. President Donald Trump last month. But it’s a safe bet that he was looking to avoid the additional sanctions on the Russian economy that Trump had vaguely threatened a number of times — and perhaps get relief from existing sanctions or even some lucrative U.S. investment deals. Putin has every reason to seek a lifeline for the Russian economy. In recent weeks, a flurry of signs has shown Russia’s war-drained, sanctions-constrained economy to be at an inflection point. For the first time since the start of the war, nonmilitary economic activity has been contracting, bankers are making plans to weather a financial crisis, and energy firms are worrying about losing their largest customer for seaborne oil exports.” (09/04/25)

https://archive.is/loCNH

US appeals court allows Florida concentration camp to continue operations for now

Source: CNN

“A federal appeals court has temporarily blocked a judge’s order requiring Florida and the federal government to shut down and dismantle a controversial immigration [concentration camp] built in the Everglades, widely referred to as ‘Alligator Alcatraz.’ On Thursday, the Eleventh US Circuit Court of Appeals granted requests from the State of Florida and the US Department of Homeland Security to stay a district court’s preliminary injunction that would have forced the site to wind down operations within 60 days. A preliminary injunction is a temporary order put in place until a court can make a final decision in a case.” (09/04/25)

https://www.cnn.com/2025/09/04/us/alligator-alcatraz-appeals-court-stay

American Manufacturing Needs Relief From Trump’s Tariffs

Source: Reason
by Eric Boehm

“The data are becoming impossible to ignore: American manufacturers desperately need relief from the very same tariffs that the Trump administration incoherently believes are helping American manufacturers. That conclusion is evident from both results of a new survey of manufacturing companies’ CEOs and new economic data showing that manufacturing activity has declined for six consecutive months — the sort of slide over two economic quarters that typically meets the definition of a sector-wide recession. In short, both words and actions point to something being very wrong with American manufacturing since February, which just so happens to be when Trump announced the first of what have become many rounds of new tariffs on imported goods and raw materials.” (09/04/25)

https://reason.com/2025/09/04/american-manufacturing-needs-relief-from-trumps-tariffs/

What home means to Syria’s returnees

Source: Christian Science Monitor
by staff

“Until last year, a country at the heart of the Middle East was known for enduring one of world’s largest population displacements. About half of Syria’s 23 million were forced to flee their homes during a 14-year civil war. Since the ouster of a dictator nine months ago, however, more than 2 million citizens have returned. Most go back to pick up old lives and recreate a democratic country. ‘When we were expelled, it felt as if our souls had been torn from our bodies,’ Mamdouh al-Sattouf, a former school principal, told Al Jazeera. ‘Now that we have returned, it feels as if we have regained our souls.’ The rising pace in the number of Syrian returnees is due in part to a new government’s efforts to hold elections this month, revive the economy with foreign help, and restore Syria’s former social harmony between diverse ethnic and religious groups.” (09/03/25)

https://www.csmonitor.com/Commentary/the-monitors-view/2025/0903/What-home-means-to-Syria-s-returnees

White House whines over $2 trillion Norwegian wealth fund’s Caterpillar exit

Source: CNBC

“The U.S. administration struck out at Norway’s $2 trillion wealth fund, saying it was ‘very troubled’ by the recent exit from American company Caterpillar. In recent weeks, the Norwegian sovereign wealth fund — the largest of its kind in the world — wound down its investments in Israel and announced plans to sell its holding of U.S. machinery manufacturer Caterpillar, amid concerns over links to the conflict in the Gaza Strip. … Last week, Norges Bank Investment Management, or NBIM — which manages the fund on behalf of the Norwegian population — said it would exit its stake in Caterpillar and five Israeli banks, citing ‘unacceptable risk that the companies contribute to serious violations of the rights of individuals in situations of war and conflict.’ At the end of last year, the fund held a 1.2% stake in New York-listed Caterpillar.” (09/04/25)

https://www.cnbc.com/2025/09/04/white-house-hits-out-at-norway-wealth-fund-over-caterpillar-exit.html

Bitcoin Hits $113k as BTC Dominance Approaches Two-Week High of 59%

Source: CoinDesk

“Bitcoin’s (BTC) price recovery has gathered traction in the lead up to Friday’s U.S. jobs report. The leading cryptocurrency by market value rose to $113,000, its highest level since Aug. 28, and recorded its first higher high since the mid August all time peak of $124,000, according to CoinDesk data. … Bitcoin’s market dominance, representing its share of the total crypto market, also climbed to a two week high of nearly 59%, up from a low of 57.5%. It points to renewed capital inflows into bitcoin, a shift from recent market dynamics characterized by whales rotating out of BTC and into ether.” (09/05/25)

https://www.coindesk.com/markets/2025/09/05/bitcoin-hits-usd113k-as-btc-dominance-approaches-two-week-high-of-59