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Home Daily Digests Stagnant US Retail Sales and “The Unit’s” Global Monetary Revolution

Stagnant US Retail Sales and “The Unit’s” Global Monetary Revolution

U.S. retail sales stagnate in April, The Unit proposes a novel monetary system, concerns over government overreach grow, and Georgia’s “foreign agents” law sparks protests, highlighting global economic, political, and regulatory challenges.

user profile picture Ivor May 16, 2024
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In the economic sphere, U.S. retail sales in April painted a picture of consumer behavior that diverged from expectations. Analysts had anticipated a modest increase in retail sales, but the reality was a stark standstill, with no month-over-month growth observed. This stagnation was particularly notable given the previous month’s revised growth figures. A sector-wise breakdown revealed a mixed bag: while gasoline stations experienced a significant uptick in spending, marking the largest month-over-month rise since August 2023, nonstore retailers and motor vehicle and parts dealers faced declines. This uneven landscape suggests a nuanced consumer response to current economic conditions. Furthermore, the core-control group, a critical component for GDP calculations, experienced a decline, signaling potential headwinds for Q2 GDP growth.

On the international front, a novel monetary initiative, The Unit, is gaining traction as it proposes a decentralized monetary ecosystem aimed at addressing the global crisis of trust in the current monetary framework. Distinct from cryptocurrencies and stablecoins, The Unit is anchored in gold and BRICS+ currencies, offering a solution to global financial infrastructure bottlenecks and unfair commodity trading practices. By employing distributed ledger technology, The Unit aims to ensure transparency and prevent manipulation, receiving backing from the BRICS Business Council. This initiative represents a significant step towards financial sovereignty and a potential reshaping of global financial infrastructure, emphasizing the importance of apolitical money in harmonizing trade and financial flows.

Also in international news, Georgia’s parliament has passed a controversial “foreign agents” law, sparking protests and drawing criticism from Western governments. The law, which requires organizations receiving significant foreign funding to register as “agents of foreign influence,” echoes similar legislation in Russia and has raised concerns about Georgia’s aspirations for EU and NATO membership. Despite the president’s intention to veto the law, the parliament’s majority support suggests an override is likely. This development has led to large protests, highlighting the tension between national security measures and the preservation of civil liberties.

Domestically, the narrative shifts to the theme of government overreach, as highlighted by the increasing encroachment of laws, regulations, and control over citizens’ lives. The absurdity of some regulations, such as those governing the growth of orchids or hair braiding, underscores the broader issue of overregulation and overcriminalization. With nearly one in four American occupations now requiring a license, the consequences of bureaucratic control are becoming increasingly apparent. This overreach not only erodes freedoms but also criminalizes everyday activities, raising concerns about the balance between security and liberty.

Sources

US Retail Sales Missed Big in April Despite Surging Gasoline Spending

For once, BofA’s analysts ‘missed’ as their expectations for a small beat in retail sales was eviscerated by a huge miss across the board.

Source | Submitted by PhilH

The Unit: A Decentralized Monetary Ecosystem on the Horizon

The Unit proposes a reliable, quick and economically efficient solution for cross-border payments.

Source | Submitted by bcoop

The Vicious Cycle of Overregulation and Overcriminalization

We are caught in a vicious cycle of too many laws, too many cops, and too little freedom.

Source | Submitted by bcoop

Georgia Adopts “Foreign Agents” Law, Threatening NGOs and European Ambitions

We’re deeply troubled by Georgia’s Kremlin-style ‘foreign agents’ legislation…we have been outspoken about our concerns with the legislation, which runs counter to democratic values and would move Georgia further away from the values of the European Union and, let’s not forget, also NATO.

Source | Submitted by nickythec

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