Credit Card Debt Peaks

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BUSINESS & ECONOMY

📉 US Trade Deficit Decreases Due to Declining Imports

In November, the U.S. trade deficit narrowed to $63.2 billion, with consumer goods imports at a yearly low, reflecting domestic demand slowdown. Exports declined due to global demand cooling from interest rate hikes to control inflation. Andrew Hunter, a U.S. economist noted a simultaneous slowdown in both global and U.S. demand, with expectations of the Federal Reserve reducing borrowing costs. Goods trade with China also fell, and service exports reached a record high, leading to a significant services surplus.

📈 US Credit Card Balances Reach New High Amid Rising Delinquencies

U.S. credit card debt hits a record $1.3 trillion, with an 18% increase in November, as per the Federal Reserve. Rising debt, fueled by consumer spending, risks long-term financial strain. Credit card delinquencies are at their highest since the 2008–09 crisis, exacerbated by inflation and the end of pandemic aid. Discover CFO John Greene warns, that if late payments peak later, it indicates "significant" consumer stress.

WORLD

🔫 Armed Men Invade Ecuador TV Studio Amid Rising Countrywide Attacks

In Ecuador, masked gunmen stormed a live TC Television broadcast in Guayaquil, leading to 13 arrests for terrorism. This follows the escape of drug gang leaders. President Noboa declared a national emergency, labeling 20 gangs as terrorists. Analyst Will Freeman called this a critical turning point, emphasizing the need for structural reforms and judicial protection amid rising drug trade violence.

🇺🇸 US Justifies Veto Against Gaza Cease-Fire Amidst Global Calls for End to Conflict

At the U.N., the U.S. vetoed a Russian proposal for immediate Gaza ceasefire, citing ground realities. The U.S. abstained from a resolution for Gaza aid and sustainable peace. Deputy Ambassador Wood criticized leniency towards Hamas, while Israel's Ambassador Erdan accused the U.N. of bias and ignoring Israeli hostages. Amidst protests from Rabbis 4 Ceasefire, the dire Gaza crisis, with over 23,000 casualties, intensifies.

SCIENCE & TECH

🐇 AI Gadget Rabbit R1 Effortlessly Manages Your Apps

Jesse Lyu, CEO of Rabbit, unveils the R1, a $199 AI device designed as a universal app controller. It features a touchscreen, camera, and unique Rabbit OS and simplifies tasks like ordering cars or messaging. The R1, using a "Large Action Model," learns from existing app interactions, challenging conventional app usage. With preorders open and shipping in March, it hints at a future beyond smartphones.

🚀 NASA Reschedules Artemis Astronaut Flight to Late 2025, Moon Landing Now Set for 2026

NASA's Artemis missions, now rescheduled for September 2025 and 2026, prioritize safety while addressing Orion spacecraft challenges. Bill Nelson, NASA Administrator, underscores "safety is our top priority." The missions, with SpaceX's Starship lunar lander, aim for a sustainable lunar presence, undeterred by China's similar ambitions, as Nelson expresses no concerns about a space race.

SPORTS & ENTERTAINMENT

🔔 Jason Momoa and Lisa Bonet Finalize Divorce on Day of Filing

Jason Momoa and Lisa Bonet finalized their amicable divorce, agreeing on joint custody of their children and waiving spousal support. Their "uncontested" split, filed the same day as Bonet's dissolution request, will be official in July. They state, "We free each other to be who we are learning to become."

🚀 "Star Wars Unveils New Film Featuring The Mandalorian and Grogu"

Grogu, AKA Baby Yoda, will feature in a new Star Wars movie by Jon Favreau, who's excited to expand the universe George Lucas created. The Mandalorian series, acclaimed and Emmy-nominated, precedes this big-screen shift, part of Disney's cost-cutting focus on films. Daisy Ridley returns under director Sharmeen Obaid-Chinoy, marking a first for women in Star Wars direction.

OTHER NEWS

🌪️ US Grapples with Widespread Storms, Heavy Snow, Rains, and Tornadoes Strike

The U.S. faces brutal winter weather with heavy rains and high winds on the East Coast causing power outages across 12 states, and tornadoes in the South resulting in three deaths. The Midwest and Great Lakes regions are preparing for ongoing blizzard conditions, while the Pacific Northwest anticipates several feet of snow. These severe weather events come in the wake of a year marked by numerous billion-dollar disasters.

🛡️ Defense Secretary Lloyd Austin Hospitalized Due to Post-Surgery Infection, Confirms Pentagon

Defense Secretary Lloyd Austin's hospitalization following prostate cancer surgery sparked controversy due to delayed notification to the White House and Congress. Despite a "minimally invasive procedure," complications led to ICU admission. Full recovery is expected, but GOP Rep. Mike Rogers is investigating the Pentagon's secrecy. Interim guidelines are issued for Cabinet members' illnesses, with President Biden affirming full confidence in Austin.

📰 Trump Co-Defendant in Georgia Claims DA Fani Willis Engaged in Misconduct with Prosecutor

Fulton County DA Fani Willis is accused of hiring an alleged romantic partner, Nathan Wade, to prosecute Donald Trump, potentially tainting the case. The 127-page motion, lacking specific proof, suggests conflicts of interest and misuse of public funds for personal trips. Trump commented on the allegations, emphasizing the supposed financial misconduct, jeopardizing the case's integrity.

THIS DAY THAT YEAR

On January 10, 1776, Thomas Paine released "Common Sense," a pivotal 50-page pamphlet advocating for American independence. Selling over 500,000 copies rapidly, it significantly influenced public opinion and spurred the American Revolution. Pamphlets like this were crucial in spreading ideas during the 16th to 19th centuries.

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