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European stocks recovered some of yesterday's losses on Tuesday morning in London, as new data from the Office for National Statistics showed the UK's public sector borrowing had seen its second highest August on record.
Cross-chain DeFi platform pNetwork has been hacked on Binance Smart Chain to the tune of approximately $12.7 million worth of Bitcoin.
The thought of a Lehman Brothers-esque collapse in China sent U.S. investors running for the exits Monday.
Synopsis: Brent Johnson, CEO of Santiago Capital, is joined by Steven Van Metre of Steven Van Metre Financial to discuss the most pressing issues on the macro landscape. After exploring whether quantitative easing (QE) and low rates are inflationary or deflationary, Johnson and Van Metre take a deep dive into the plumbing of the Treasury market and specifically the operations of the Fed’s FOMC. Van Metre explains why he believes the Fed’s policies have actually caused banks to tighten their lending standards rather than loosen them as the Fed intended. The pair then take a look at swap lines and the Eurodollar funding market as well as the effect a credit contraction would have on the U.S. dollar. Lastly, Van Metre talks about his Real Vision journey and how the knowledge he’s gained has helped him as a financial advisor
Bad News from SpaceX! The Starship launches but explodes on landing attempt after test flight!
The latest prototype of SpaceX’s next-generation Starship rocket launched successfully on Tuesday but exploded on impact during an attempted landing after the company’s latest development test flight.
Starship prototype Serial Number 9, or SN9, aimed to fly as high as 10 kilometers, or about 32,800 feet altitude. The flight was similar to the one SpaceX conducted in December, when it launched prototype SN8 on the highest and longest flight to date.
But, like the SN8 flight, while the rocket flew successfully, it did not stick the landing on its return.
“We had, again, another great flight up ... we’ve just got to work on that landing a little bit,” SpaceX principal integration engineer John Insprucker said on the company’s webcast of the flight.
The rocket prototypes are built of stainless steel, representing the early versions of the rocket that CEO Elon Musk unveiled last year. The company is developing Starship with the goal of launching cargo and as many as a 100 people at a time on missions to the moon and Mars.
CEO Elon Musk pivoted the company’s attention to Starship in May, after SpaceX successfully launched its first astronaut mission. He’s deemed Starship the company’s top priority, declaring last year in an email obtained by CNBC that the development program must accelerate “dramatically and immediately.”
Musk previously said that Starship could potentially fly people in 2020, but he’s since acknowledged that the rocket still has many milestones, including “hundreds of missions,” to go before that happens.
Multiple prototypes are being built simultaneously at SpaceX’s growing facility in Boca Chica, Texas, with its SN10 rocket already rolled out to a second launchpad nearby. While SpaceX’s fleet of Falcon 9 and Falcon Heavy rockets are partially reusable, Musk’s goal is to make Starship fully reusable — envisioning a rocket that is more akin to a commercial airplane, with short turnaround times between flights where the only major cost is fuel.