IN THE MEDIA
‘TRUMP EFFECT’ – STOCKS CLOSE AT NEW RECORDS
U.S. stocks closed higher Wednesday with the Dow industrials and S&P 500 notching new records, shaking off early weakness in the health-care sector to extend gains.
Health-care names tumbled early Wednesday after President-elect Trump threatened to cut drub prices. “I’m going to bring down drug prices,” Trump told Time in his “Person of the Year” Cover story. “I don’t like what has happened with drug prices.
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Russian central bank loses $31 million in cyber attack
Hackers stole more than 2 billion rubles ($31 million) from correspondent accounts at the Russian central bank, the bank said on Friday, the latest example of an escalation of cyber attacks on financial institutions around the globe.Central bank official Artyom Sychyov discussed the losses at a briefing, saying that the hackers had attempted to steal about 5 billion rubles.
Sychyov was commenting on a central bank report released earlier in the day, that told about hackers breaking into accounts there by faking a client's credentials. The bank provided few other details in its lengthy report.
Financial regulators around the world have recently urged banks to beef up cyber security in the wake of a string of high-profile heists on banks around the world.
Fears about attacks on banks have mounted since February when unknown cyber criminals stole $81 million in funds that Bangladesh's central bank had on deposit at the New York Fed. Law enforcement agencies around the globe are hunting for the criminals who stole the money using fraudulent wire-transfer requests sent over the SWIFT bank messaging network.
Separately, Russia said on Friday that it had uncovered a plot by foreign spy agencies to sow chaos in the country's banking system via a coordinated wave of cyber attacks and fake social media reports about banks going bust.
I fooled America with fake news stories and got Trump elected
Facebook fake-news writer who “hates” Donald Trump is taking credit for sending the billionaire to the White House.Paul Horner has spread a viral slew of stupefying news hoaxes over the years, including one doozy about how a 3 million-strong contingent of Amish folks in Ohio helped propel Trump to the White House.
His tall tales spread like wildfire, and caught the attention of The Donald’s team, including son Eric and his then-campaign manager, Corey Lewandowski, who posted links to his reports as if they were legit.
“I think Trump is in the White House because of me. His followers don’t fact-check anything — they’ll post everything, believe anything,” Horner, 38, told the Washington Post. “His campaign manager posted my story about a protester getting paid $3,500 as fact. Like, I made that up. I posted a fake ad on Craigslist.”
He chalked up his popularity — and believably — to P.T. Barnum’s phrase: There’s a sucker born every minute.
“Honestly, people are definitely dumber. They just keep passing stuff around. Nobody fact-checks anything anymore — I mean, that’s how Trump got elected,” he told the paper.
Read More at NY Post.
CAN WE SAVE AMERICA
By Arkadiy Fridman
Citizens Magazine, President
"Most economic fallacies derive from the tendency to assume that there is a fixed pie, which one party can gain only at the expense of another."
"We have a system that increasingly taxes work and subsidizes non-work."
"The world runs on individuals pursuing their self interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way."
The economic prosperity of a country and its citizens’ standard of living are very
dependent on industrial and high tech power. America, Germany, Japan and South Korea
all have basically sound economies and a high standard of living because they have advanced industries with companies that include Boeing, IBM, Apple, Ford, General Motors, Chrysler, Mercedes Benz, BMW, Krupp's, Sony, Toyota, Toshiba, Honda, Samsung, LG, and many more. These nations have excellent banking and insurance systems as well as stable political systems. They all compete with one another, but face serious competition from China, India and Brazil which have populations that provide cheap labor.
Given these realities, what must America do to remain the greatest country in the world?
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