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The death of Queen Elizabeth II: Live updates 

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The death of Queen Elizabeth II: Live updates 
Ons Jabeur of Tunisia and Caroline Garcia of France stand on court docket for a second of silence for Queen Elizabeth previous to their Girls’s Singles Semifinal match of the 2022 US Open in New York on September 08, 2022. (Julian Finney/Getty Pictures)

America turned its eyes to the outdated nation on Thursday, after the demise of Queen Elizabeth II. When information of her sudden decline broke, tv networks broke into programing — virtually as if a US President had died. In New York, the US Open tennis event and the United Nations held moments of silence to honor her passing. In Washington, flags on official buildings had been lowered to half-staff.  

Throughout a reign that lasted seven a long time, the Queen and the royal household conjured fascination, affection and even some jealousy in a nation that broke away from the throne virtually 250 years in the past. 

She met 13 US Presidents, beginning with a go to to Washington to see Harry Truman earlier than she grew to become Queen. (Her first official head-of-state assembly with a US commander-in-chief was with Dwight Eisenhower). President Joe Biden, who stopped by the British embassy in Washington on Thursday to signal a e book of condolences, was the final President to carry official talks with the Queen.

In an announcement, Biden despatched “our deepest condolences to the Royal Household, who will not be solely mourning their Queen, however their pricey mom, grandmother, and great-grandmother. Her legacy will loom massive within the pages of British historical past, and within the story of our world.”

And amid the official rituals of remembrance, there have been some smaller, however poignant gestures. In Santa Monica, California, patrons confirmed up at “Ye Olde King’s Head” a restaurant and reward store, to purchase memorabilia and share recollections of the Queen.

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Video: How Navy Pilots are Harmed by Their Own Planes

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Video: How Navy Pilots are Harmed by Their Own Planes

For decades, the Navy has stated that brain injuries have mostly occurred during accidents or leisure activities. But now, a confidential new program is studying whether intense fighter jet operations can cause brain injuries as devastating as those from repeated blast exposure.

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Bears are dropping like flies

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Bears are dropping like flies

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We’ll take $1tn on “things people say at the top of the cycle”, please Alex.

Mega forces are reshaping economies and their long-term trajectories — it’s no longer about short-term fluctuations in activity leading to expansion or recession. 2024 has reinforced our view that we are not in a business cycle: AI has been a major market driver, inflation fell without a growth slowdown and typical recession signals failed. Volatility surged and narratives flipflopped as markets kept viewing new data through a business cycle lens, not one of transformation.

That’s from BlackRock’s 2025 investment outlook, published yesterday. It’s not quite Gordon Brown bragging on the eve of the financial crisis that he’d eliminated boom and bust cycles, but there are uncanny echoes.

However, BlackRock gunna BlackRock. A large investment manager is never going to sound overly negative in its big annual outlook, when the whole point is to entice punters into the building. Or as BlackRock puts it:

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This fundamentally different landscape upends the nature of investing, in our view. We think investors can find opportunities by tapping into the waves of transformation we see ahead in the real economy, with AI and the low-carbon transition requiring investment potentially on par with the Industrial Revolution.

What’s more noticeable is how many permabears are now throwing in the towel. Even Nouriel Roubini is sounding remarkably positive these days, and now David Rosenberg is publishing mea culpas (though he insists that this is not what it is).

Check it out:

The bottom line: One can reasonably debate whether the stock market has risen exponentially but there is no arguing that the surge in the S&P 500 these past two years has been nothing short of extraordinary. And it has clearly gone much further than I thought it would, especially in these past twelve months, and so at this point, it is worth the time and effort to discuss and interpret the message from the market; tip the hat to the bulls who have, after all, been on the right side of the trade, and provide some rationale behind this powerful surge. This is not some attempt at a mea culpa or a throwing in of any towel, as much as the lament of a bear who has come to grips with the premise that while the market has definitely been exuberant, it may not actually be altogether that irrational.

Rosenberg’s über-bear credentials have been well-established for several decades. He’s your favourite bearish analyst’s favourite bear. As recently as last month he was recommending people get into cash because he felt pretty much everything was overvalued. So Rosenberg’s shift is . . . interesting.

His whole argument is worth reading, as some of the thoughtful bearishness still lingers. For example, Rosenberg still reckons that there could be a correction sometime soon, perhaps triggered by a more hawkish Federal Reserve. But he thinks that the response will and should probably be to “buy the dip”.

This bit stood out for us, as FTAV never thought we’d hear Rosenberg unironically say anything like “this time is different”:

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I do hate to ever use the term “new era” or “it’s different this time,” but we do not have a large sample size of data points historically on such major inflection points on the technology curve. But when they do occur, what you do find is what we have on our hands today, which, once again, is an investment community lengthening their investment horizons and rendering classic valuation metrics obsolete (at least for the environment we find ourselves in currently). That’s the major point.

This is the kind of stuff that mostly happens just before major market turns. Thankfully Albert Edwards is as resolutely gloomy as ever, because if he changes his mind all hell will probably break loose.

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Security expert shocked health care CEO didn't have security when he was killed | Fox News Video

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Security expert shocked health care CEO didn't have security when he was killed | Fox News Video
Klein Investigations CEO Philip Klein joined ‘Fox & Friends First’ to discuss why it was ‘completely unusual’ that UnitedHealthcare CEO Brian Thompson didn’t have personal security at the time of the murder as the perpetrator remains on the loose.
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