PNUT GALLERY

The Pnut family grew a little bit yesterday! We are proud to announce that Mary Von Aue joins us as our Managing Editor. You can read more about her here. 

IN A NUTSHELL: MUST READ

Yellen Yells (Speaks Softly) About The State Of The Economy Fed Chairwoman Janet Yellen struck a downbeat tone during a congressional hearing on the economy yesterday. Yellen highlighted a number of headwinds to global growth that risk weakening a tepid US economy. US economic growth slowed to 0.7% in the fourth quarter of last year. Yellen highlighted China and market turbulence as two of the biggest risks facing economic growth and indicated that it might be a while before the Fed raises rates again (they raised last December). 
So what? Yellen (and other central bankers) have been providing the fuel for the world economy with low rates and quantitative easing ever since the great recession of 2008/2009. Yellen’s statements can be interpreted as a signal that much still needs to be done by other policy makers in the US (cough Congress cough) and abroad to generate sustainable growth. Judging by the way Congress reacted to Obama’s budget yesterday, she shouldn’t hold her breath.  

NUTS AND BOLTS: SHOULD READ

Harry Potter Comes Back From Retirement It’s true! Harry Potter is back for one more book. “Harry Potter and the Cursed Child Parts I & II” cover the lives of the gang after the last book as they struggle with family life. Details of the books are sketchy but judging from the excerpt it will focus on the life of Harry’s son and Harry’s new life in the Ministry of Magic. Honestly, the book could be Harry’s quotidian life as a government employee and we would still be excited.  

Twitter Tired Of Twittering? Twitter reported its first quarter without any user growth since the company’s founding yesterday. The company has been besieged by leadership challenges and a series of “end of twitter” articles in the press lately as it struggles to find its place in a social media field increasingly dominated by Facebook. Help them out by following us on twitter here. 

#pnut4prez: And Then There Were Six (Plus Jim Gilmore) It took a few months but Chris Christie and Carly Fiorina finally figured out that they didn’t really stand a chance to become number 45. Chris Christie failed to convert a strong debate performance into a top three finish in New Hampshire and early promise by Carly Fiorina proved illusory. The more establishment candidates remain in the ring the more likely Trump continues winning primaries.  

Keeping Our Eye On…

• Syria: The Red Cross estimates that recent fighting around the northern Syrian city of Aleppo has displaced roughly 50,000 people, with roughly 30,000 trying to get into Turkey. 
• Oregon: Apparently the standoff between an armed militia and the federal government in Oregon is still ongoing. The FBI said it was going to start negotiations to end the occupation once and for all.  
• Justice: The US Justice Department sued the city of Ferguson, Missouri (the scene of the killing of black teenager Michael Brown at the hands of a white policeman) to force the city to undertake reforms to its police force. The city wanted to renegotiate a previous agreement it reached with the DoJ.

LOOSE NUTS: FOR YOUR ENJOYMENT

Unleash The Super Confessors!  Pope Francis is dispatching 1,000 “super confessor priests” around the world to forgive “grave sins” on his behalf. This army of forgiveness is part of the Pope’s “Year of Mercy.” So, if you’ve been planning to “kill the pope” or anything else particularly naughty this is a great opportunity for you to clear your conscience. You have to love this guy.    

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