JUST IN: Nordstrom, $JWN, is shutting down all stores in San Fransisco.
Management said the “dynamics of the city changed” which is impacting their ability to draw in customers.
Meanwhile, a record 30% of San Francisco offices are vacant.
Their real estate crisis is spreading.
The more screentime users spend looking at a post, whether text, pic or video, the more it is boosted.
Video posted natively to this platform will be boosted more than an external link, because way more time is spent watching a video than clicking on a link.
Highest Federal Income Tax Rate, by Year:
- 1920: 73%
- 1930: 25%
- 1940: 81%
- 1950: 84%
- 1960: 91%
- 1970: 72%
- 1980: 70%
- 1990: 28%
- 1995: 40%
- 2000: 40%
- 2005: 35%
- 2010: 35%
- 2015: 40%
- 2020: 37%
- NOW: 37%
Last time inflation was at the levels we are seeing now, the top income tax rate was ~70%.
The highest top income tax rate in US history was in 1944, at 94%.
The lowest top income tax rate in US history was in 1913, at 7%.
Are current income tax rates too high or too low?
NEWS: Elon to interview with Tucker Carlson next week.
This follows his interview with BBC earlier this week. It’s great to see Elon engage with both sides of the political spectrum.
Total US Bank Deposits, by Year:
- 1975: $740 billion
- 1980: $1.0 trillion
- 1985: $1.7 trillion
- 1990: $2.3 trillion
- 1995: $2.6 trillion
- 2000: $3.6 trillion
- 2005: $5.4 trillion
- 2010: $7.8 trillion
- 2015: $10.8 trillion
- 2020: $15.0 trillion
- 2022: $18.0 trillion
- NOW: $17.2 trillion
2023 is on track for the biggest annual drop in commercial bank deposits in US history.
Since the peak, total bank deposits are down over $1 trillion.
In 2023 alone, over $800 billion has been withdrawn from banks amidst the banking crisis.
This is what happens when you have the fastest rising interest rates in history with a banking crisis.