Stephen K. Bannon's Blog, page 789

Disney Stock Tumbles…

Disney is poised to rank among the worst-performing stocks in 2022 after the company became embroiled in a high-profile political controversy.

The stock reached an all-time high in March 2021, trading at nearly $200 per share. But it has been in free fall ever since. As the market closed Thursday, the stock was hovering near $120 per share – down roughly 33% from a year ago.

The company has been in the spotlight in recent weeks after it publicly opposed a bill Republican Florida Gov. Ron DeSantis signed that prohibits classroom instruction on “sexual orientation” and “gender identity” with children in third grade or younger “or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards.”

The Florida House of Representatives passed a bill Thursday that would dissolve Walt Disney’s special governing power in the state, a move that could have huge tax implications for Disney, one of the state’s largest private employers with more than 60,000 workers. The bill now heads to DeSantis’ desk.

 

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Modest’ Recession Coming…

The U.S. economic outlook is dimming and a downturn could be on the horizon as the Federal Reserve moves to tame the hottest inflation in four decades, according to Fannie Mae economists.

The mortgage lender said in a new economic and housing forecast that the economy faces a “modest recession” in 2023 as a result of the Fed’s aggressive monetary policy tightening trajectory, fallout from the Russian war in Ukraine and the worst inflation in a generation.

“We continue to see multiple drivers of economic growth through 2022, but the need to rein in inflation, combined with other economic indicators, such as the recent inversion of the Treasury yield curve, led us to meaningfully downgrade our expectations for economic growth in 2023,” Doug Duncan, Fannie Mae’s chief economist, said in a statement.

Still, Fannie Mae said it does not expect the recession to be worse than the one seen in 2008 in the wake of the financial crisis, largely because of the current state of the housing market, including a mortgage credit quality that is “far superior” and mortgage lenders that are better equipped than they were a decade ago.

The company expects home sales, house prices and mortgage volumes to drop over the course of the next two years “to a pace more consistent with income growth and interest rates,” Duncan said…

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BREAKING: Trump SLAMS CNN+ after platform folds in just 21 days

American News Apr 21, 2022 2:36 PM
EST
“In any event, it’s just one more piece of CNN and Fake News that we don’t have to bother with anymore!” the former president wrote.
Former President Donald Trump “congratulated” CNN on their failed streaming platform, in a statement released on Thursday.The former president has a long and well documented feud with the network and its ownership, and held back no punches in his statement. “Congratulations to CNN+ on their decision to immediately FOLD for a lack of ratings, or viewers in any way, shape, or form. It was like an empty desert out there despite spending hundreds of millions of dollars and the hiring of low-rated Chris Wallace, a man who tried so hard to be his father, Mike, but lacked the talent and whatever else is necessary to be a star,” he wrote, referring to Mike Wallace, an original correspondent of 60 Minutes.“In any event, it’s just one more piece of CNN and Fake News that we don’t have to bother with anymore!“CNN+, was launched just 21 days ago, with the network initially planning to invest around $1 billion in the streaming service over the next four years, but as previously reported by Axios, that total was expected to be cut by hundreds of millions following low subscriptions. It now appears as though the project will be stopped completely, however.An email reportedly sent from CNN reads: “Today Warner Bros. Discovery and CNN are announcing that we have decided to cease operations at CNN+, effective April 30. I want to share my perspective with you before the news breaks.“This decision is in line with WBD’s broader direct-to-consumer strategy. In a complex streaming market, consumers want simplicity and an all-in service, which provides a better experience and more value than stand-alone offerings. Let me be clear: this move is in no way a reflection of the talented and hardworking people who poured their heart and soul into building and flawlessly launching CNN+ in a very short period of time.“Email just went out that @CNN is canceling CNN+ this month. It survived about as long as most of my house plants. pic.twitter.com/VfvaHud3hn— Alison Morrow (@AlisonMorrowTV) April 21, 2022
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Court: NY Dems illegally drew congress districts

NEWYou can now listen to Fox News articles!
A mid-level appeals court in Ne …

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Musk new moves to buy Twitter

Elon Musk created three new holding companies according to SEC filings.
The filings show the companies are part of his plan to buy Twitter.
They could also open the door to combining Musk’s portfolio of companies under one parent company.

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Elon Musk created three separate holding companies on Wednesday as part of his bid to buy Twitter, according to documents filed with the Securities and Exchange Commission.The companies are called X Holdings I, II, and III, and two filings to the SEC state that all the companies have been established to acquire or merge with Twitter, “directly or indirectly.” The filings all referred to the plan as “Project X.“Musk offered to buy Twitter’s outstanding stock at $54.20 per share last week, valuing the company at roughly $43 billion. Musk said Thursday he has secured $46.5 billion in financing commitments for his desired takeover of Twitter.

Twitter’s board has resisted Musk’s proposed takeover, devising a “poison pill” defense which the board said would “protect stockholders from coercive or otherwise unfair takeover tactics.“The creation of the holding companies also sets the stage for Musk to potentially coalesce his portfolio of companies including Tesla, SpaceX, The Boring Company, and Neuralink under one parent company. Musk expressed enthusiasm for the idea of bringing his companies under one parent company named “X” in a 2020 tweet, although in a recent TED Conference interview he said it would be “tricky.”“Tesla is a publicly traded company and the investor base of Tesla and SpaceX, and certainly Boring Company and Neuralink, are quite different,” Musk said.
…

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Trump: ‘Climate Hysteria Hoax’ Destroying Economy

Former President Trump delivered the keynote speech at the Heritage Foundation’s annual leadership conference at the Ritz-Carlton on Thursday where he addressed a range of issues, chief among them being the radical left’s destruction of the American economy via the “Climate Hysteria Hoax.”
“One of the most urgent tasks not only for our movement but for our country is to decisively defeat the Climate Hysteria Hoax,” the president said to the room of supporters.
The president highlighted how the radical environmentalist movement has morphed from a fringe belief among America’s youth into an insidious cause that is now actively “destroying America’s economy, weakening our security, and eviscerating our Middle Class.”
“The deranged ideology of the Green New Deal is a massive self-inflicted economic wound,” the president said. “It is helping fuel runaway inflation. It is causing the cost of food, cars, housing, and raising a family to skyrocket.”
Worst of all, the president added, is how Ameri …

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Mex Governor Enhances Border Security

The governor of the Mexican state Coahuila has enhanced security on his side of the border after an agreement with Texas Gov. Greg Abbott, according to a video Coahuila Governor Miguel Ángel Riquelme Solís posted to Twitter Wednesday.Riquelme Solís met April 14 with Abbott at the Texas Capitol to sign a joint memorandum of understanding (MOU) to combat illegal immigration and to clear up traffic on international bridges. In the memo, Riquelme Solis agreed to operate border checkpoints in Mexico and to deploy personnel and motor equipment to prevent certain immigrant crossings at ports.A video Riquelme Solis posted on Twitter Wednesday showed police from the Mexican state standing in front of a line of their vehicles with a helicopter overhead as part of his pledge to patrol his side of the border. Governor @mrikelme of Coahuila starts his enhanced border security measures after signing our historic agreement. We are securing BOTH sides of the border.pic.twitter.com/JpMqAPfBf6 — Greg Abbott (@GregAbbott_TX) April 20, 2022 “These MOUs with the State of Chihuahua and the State of Coahuila signal yet another historic step taken by the State of …

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Netflix Tumbles 35% In One DAY!

Call Eleven and Sheriff Hopper of “Stranger Things,” because Netflix’s world has been turned upside down.

The company reported Tuesday that it lost subscribers for the first time in more than a decade. The news shocked Wall Street and sent shares plummeting 35% Wednesday morning, wiping out $50 billion in market cap. And this was after the company’s stock had dropped more than 40% year to date.

Simply put, Netflix’s terrible 2022 has now become disastrous.

Once bullish experts and analysts who viewed Netflix as the linchpin of a transforming entertainment industry are now concerned about its growth going forward. And they’re wondering what the future of the company — and all of streaming — might look like.

“What worked until this point may not be working anymore,” Michael Nathanson, a media analyst at MoffettNathanson, told CNN Business. “The world’s changed.”

The question for Netflix (NFLX) — once the untouchable king of streaming — has gone from “what’s next?” to “what now?”

 

Bill Ackman, Pershing Square Capital Management founder who less than 3mths ago bought $1.1bn in Netflix stock, has sold his entire stake in comp at major loss of >$430mln. Netflix shares fell 35.1% on Wed, recording their worst day since 2004, after shocking subscriber numbers. pic.twitter.com/C5LuElkSDt

— Holger Zschaepitz (@Schuldensuehner) April 20, 2022

 

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New Emails Raise Questions In Spygate

After spending weeks dismissing concerns about its work with Russia hoax-connected researchers, a newly discovered email from The Defense Advanced Research Projects Agency to a Georgia Tech researcher with the subject line “Mueller case” casts doubt on DARPA’s denials.

Last month, The Federalist first reported that an email exchange obtained from Georgia Tech pursuant to a Right-to-Know request indicated that Special Counsel John Durham’s office was investigating the Democrat National Committee hack. Manos Antonakakis, the Georgia Tech researcher branded “Researcher‑1” in the special counsel’s indictment of former Clinton campaign lawyer Michael Sussmann, penned the email shortly after being questioned by one of Durham’s top prosecutors.

The special counsel’s office charged Sussmann last fall with lying to the FBI’s general counsel, James Baker, when Sussmann provided Baker with data and white papers supposedly showing the existence of …

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Psaki Admits Mandates All About Power

In Wednesday’s White House press briefing, Jen Psaki was asked about the Biden administration’s rather disjointed reaction to a federal judge in Florida striking down the CDC’s mask mandate for travelers and its delayed response to the ruling — as Townhall reported earlier this week.But when given the opportunity to explain and justify the Biden administration’s decision to appeal the federal judge’s invalidation of the CDC’s federal mask mandate, Psaki admitted that the White House would fight the ruling in order to “preserve that authority for the CDC to have in the future.” That is, it’s not about The Science, it’s about protecting power. “We are entirely able to, and legally able to, be a part of the discussion,” Psaki told reporters about the Biden administration’s appeal. “But right now we of course are deferring to the CDC on what they believe is needed at this moment,” she said despite the fact that the White House has repeatedly gotten in front of CDC guid …

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