The Ideology Behind the American Revolution

Amazon's Cloud Unit In Bahrain "Disrupted" By Iranian Strike Just one day after the Islamic Revolutionary Guard Corps threatened U.S. companies across the Middle East, the Financial Times reported late Tuesday morning that an IRGC strike had damaged Amazon's cloud computing infrastructure in Bahrain.  The FT cited Bahrain's interior ministry, which said civil defense teams were "extinguishing a fire in a facility of a company as a result of the Iranian aggression." Local authorities did not identify the company, disclose the type of air-delivered munition used, and/or provide further operational details about the strike. But according...

Half Of Crimea Goes Dark After Ukrainian Strike Hits Thermal Power Plant Yet more drone attacks sent by Ukraine's military has crippled much of the infrastructure of the Crimean peninsula. Reuters is confirming significant power outages, while some regional reports say as much as half of all Crimea is without power Tuesday. One of the regional publications specified that "Yevpatoria, Saki, Krasnoperekopsk, Dzhankoy, and surrounding areas were left without electricity, reports the Ukrainian service of Radio Svoboda." "Preliminary, electricity supply is planned to be restored within 24 hours" - after several facilities in Crimea suffered...

Americans' Savings-Rate Slumps In April As Fed's Favorite Inflation Signal Soars After accelerating significantly in March, The Fed's favorite inflation indicator - Core PCE (a measure of price changes in consumer goods and services that excludes volatile food and energy costs) - rose 0.2% MoM in April (less than expected +0.3% MoM), but pulled up the YoY measure to +3.3% (as expected) - its highest since Nov 2023. The rise in Services costs (headlined by Housing & Utilities, Financial Services, and Healthcare) dominated the increase in Core PCE YoY... The headline PCE...