🇺🇸🚢🇨🇳 Container shipping traffic from China to the US is plummeting:
The number of ships departing from China to the US over the last 15 days has dropped to its lowest since February.
Excluding the Chinese New Year-related decline in February, this is the lowest level in over a year.
Shipping volumes have declined by ~50% since mid-April as reciprocal tariffs began.
This is all despite the US-China 90-day tariff truce announced on May 12th.
The effective US tariff rate on China is above pre-April 2nd levels, at 33%.
US-China trade is coming to a halt.
🔗 The Kobeissi Letter
British man attacked for entering a ‘no-go zone’ in London.
A horde of Islamists surrounded him and questioned why he was in ‘their’ neighborhood.
They threatened him and began chanting ‘Allahu Akbar’ as they kicked him out.
A 65-year-old couple retiring in 2025 with average earnings will receive an estimated $1.34 million in lifetime benefits, while contributing only $720,000 in today’s dollars.
That shortfall—more than $600,000 per couple—is being made up by younger workers.
“Most of the growth in spending has gone to retirement and healthcare, while programs that promote upward mobility... have been left behind”
https://www.newsweek.com/social-security-medicare-young-workers-cost-10477619