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Try to Be Grate-ful |
I don't try to make sense of the modern world. I just try to be grate-ful for the good stuff, including the good cheese, like Grateful Ched, a beer-marinated Cheddar from Pennsylvania! Okay, that's a bit optimistic. The truth is I do try to make sense of the modern world—and often fail—but I do, at least, still try very hard to be grateful for the good stuff. That's the lesson I'd probably share with those of you whose savings are invested in the stock market this morning. Also: Brace yourselves. #NotFinancialAdvice |
Table of Contents |
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Also, don't grate anything you might later need intact. |
—Matt Davis, Need2Know Chedditor |
P.S. Which American cities make $100K worth the least? Find the totally surprising answer (IT'S NEW YORK) on our instagram. |
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Quote of the Day |
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Should You Check Your 401(k) Today? |
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(Hell, no. DO NOT PEEK.) |
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U.S. stocks fell sharply Monday after President Donald Trump said tariffs on Canada and Mexico would take effect late last night. That dashed Wall Street's hopes Trump would choose a less painful path for global trade, and it followed the latest warning signal on the U.S. economy's strength. |
The S&P 500 was down 2% in late trading and on track for its worst day since December. After holding relatively steady through much of the morning, the index turned lower in the afternoon. The losses accelerated sharply after Trump said there was "no room left" for negotiations that could lower the 25% tariffs set for imports from Canada and Mexico, which had already been delayed once to allow time for more talks. |
The drops punctuate a rocky couple of weeks for Wall Street. After the S&P 500 set a record following a parade of fatter-than-expected profit reports from big U.S. companies last month, the market began diving amid several weaker-than-expected reports on the U.S. economy, including a couple showing U.S. households are getting much more pessimistic about inflation because of the threat of tariffs. |
The latest weaker-than-expected report arrived Monday on U.S. manufacturing. Overall activity is still growing, but not by quite as much as economists had forecast. Perhaps more discouragingly, manufacturers are seeing a contraction in new orders. Prices, meanwhile, rose amid discussions about who will pay for Trump's tariffs. The hope on Wall Street had been that Trump was using the threat of tariffs as a tool for negotiations and that he would ultimately go through with less damaging policies for the global economy and trade. |
It turns out, of course, that a negotiation tactic is only really effective if you're prepared to follow through on it. Observers noted that the markets tanked in real time as the president announced the tariffs on Fox news: |
 | Aaron Rupar @atrupar |  |
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you can watch the stock market tank in the bottom corner of Fox's broadcast as Trump talks about tariffs | |  | | | 8:07 PM • Mar 3, 2025 | | | | | | 3.67K Likes 793 Retweets | 118 Replies |
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Crypto rises with new crypto reserve |
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My godson started a high-frequency crypto trading company recently, and it's possible I may need to call him up and remind him what a good job I've done of being his godfather. In particular, there was the whole "never seeing him for more than 20 years after his christening" part, where I think I did a particularly good job of steering him straight. In completely unrelated news the value of crypto soared yesterday (see below) while my 401(k), which is invested in the stock market, tanked (see above). At 9:30 in the morning a nonprofit client who's almost been paying for my family's $2,600-a-month health insurance with their monthly retainer also graciously called to tell me their consulting budget just got slashed to zero. So. |
Ha ha! Ha! I'm sure they'll be back once the stock market goes up again. Right? Right?!? |
Yesterday President Donald Trump announced his intention for the U.S. government to begin purchasing and holding a diversified portfolio of digital assets in a "Crypto Strategic Reserve," a sort of digital Fort Knox. Bitcoin, the leading cryptocurrency, soared to approximately $90,000 on Monday morning, rallying from a dip below $80,000 the previous week. Crypto prices soared after Trump's victory last year, and when the price of Bitcoin first crossed $100,000 in early December, Trump took credit and posted "YOU'RE WELCOME!!!" on social media. |
Other digital currencies like XRP, solana, and cardano—specifically mentioned in Trump's announcement—experienced substantial price spikes, though these gains saw a more gradual decrease into Monday morning. Though Trump had previously advocated for a "strategic national bitcoin" stockpile comprising bitcoins seized in law enforcement actions, this latest announcement is the first to signal a governmental shift toward embracing a wider array of cryptocurrencies. The inclusion of both major players like Bitcoin and Ether, along with lesser-known digital assets such as XRP, solana, and cardano, indicates a nuanced strategy that might redefine the U.S. governmental stance on digital currencies. |
Eric Trump, the president's non-godson, took to social media to express that the price increases following the announcement validate his recent advice to invest in crypto assets. |
 | Eric Trump @EricTrump | |
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You're welcome my friend! Hopefully, I made someone's life just a little bit better. Now my advice: HOLD (i.e Long Term) |  Gordon @AltcoinGordon
Never fade Eric Trump |
| | | 1:27 PM • Mar 3, 2025 | | | | | | 27.8K Likes 3.25K Retweets | 3.23K Replies |
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With a "Crypto Summit" slated to take place at the White House, hosted by Trump and featuring industry leaders, the administration seems committed to integrating cryptocurrencies into the national economic agenda more deeply. I really need to figure out, meanwhile, hot to call my godson in Dublin, or whatever tax haven he's living in now. |
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From @cheddar |
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One way of "creative problem solving" when a terror suspect won't give up the goods, of course, is to elevate their feet and pour water through a blanket into their nose. But it turns out, the Central Intelligence Agency also has other ideas about how to do that! That's right. The agency that brought you such fictional heroes as Carrie Matheson and Saul Berenson is stepping out of the shadows and into the spotlight at this year's South By Southwest festival in Austin, Texas. |
 | No, Saul. We're deadly serious. |
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Known for its eclectic fusion of music, technology, and film, SXSW is now playing host to America's premier intelligence organization. The CIA announced it will be presenting a talk titled "Mission Possible: The Spies' Guide to Creative Problem Solving" during the first weekend of SXSW: |
 | CIA @CIA | |
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#CIA is excited to announce our return to #SXSW! This year, CIA officers will present "Mission Possible: The Spies' Guide to Creative Problem Solving." Come learn how creative problem-solving has helped resolve complex challenges we've faced in protecting national security, and… x.com/i/web/status/1… | |  | | | 3:21 PM • Mar 3, 2025 | | | | | | 837 Likes 226 Retweets | 443 Replies |
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This marks a departure from the agency's traditionally covert operations to a more open exchange of ideas in the public domain. Transpyarency! A CIA historian, alongside one of the agency's public affairs officers, will lead the session, aiming to share insights into the innovative problem-solving techniques employed by the agency. |
SXSW has long been a gathering place for some of the world's most creative minds, spanning various sectors like music, tech, film, and now, it seems, espionage. The CIA's choice to engage with the audience at SXSW speaks volumes about its recognition of the importance of cross-disciplinary learning and innovation. Their session proposes to offer tips that are applicable not just to national security dilemmas but to the everyday challenges faced by artists, technologists, business leaders, and entrepreneurs attending the festival. |
Given that the agency administered LSD to unwitting citizens during the Cold War I'd be careful not to let any grey men near your drink! |
The presentation aims to show how the same creative thinking used in executing clandestine operations can be adapted to "seemingly impossible missions" in civilian life. Whether those missions involve launching a startup, tackling environmental issues, or creating art, the CIA seems poised to prove that their methods of problem-solving are universally applicable. |
This outreach comes at a particularly tumultuous time for the intelligence community, with the agency recently making headlines for offering buyout deals to employees as part of broader efforts by President Donald Trump and Elon Musk to downsize and reform the federal government. Director John Ratcliffe's commitment to refocusing the agency on human-collected intelligence underscores a period of significant transformation within the CIA, making their foray into public engagement at SXSW all the more noteworthy. Subtext: Perhaps they're recruiting the kids, now. |
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First Lady Melania Trump made a powerful return to the public eye on Capitol Hill yesterday to champion a piece of legislation aimed at protecting young people from online exploitation. Her commitment to confronting the scourge of revenge porn head-on represents a continued dedication to youth well-being in the digital sphere. |
In her first solo public event since the transition of power back in January, Melania articulated the profound emotional devastation experienced by teenagers, particularly girls, who fall prey to the dissemination of malicious and sexually explicit content online. Labeling the impact as "heartbreaking," the former First Lady threw her support behind the "Take It Down Act," which saw passage in the Senate last month. |
The bipartisan bill, sponsored by Senators Ted Cruz (R–Texas) and Amy Klobuchar (D–Minn.), seeks to criminalize the posting of intimate imagery without consent—addressing both actual photographs and those created via artificial intelligence, commonly referred to as "deepfakes." |
Melania's advocacy has undoubtedly placed additional momentum behind the bill, which must now clear the Republican-controlled House and get her husband's nod to become law. Meta, the parent company of Facebook and Instagram, has expressed its support for the legislation. |
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The 97th Academy Awards hailed the triumph of the indie sensation 'Anora.' Possibly the epitome of a modern Cinderella story, Sean Baker's 'Anora' not only captured the heart of the Academy but also swept the Oscars with significant wins, including a historical moment for its star, Mikey Madison, 25. |
Madison lifted the best actress Oscar for her raw and robust portrayal in 'Anora,' making her the ninth-youngest winner in the award's history. Academy members described her performance as Ani, a stripper entangled in a complex relationship with a wealthy patron, as an evocation of empathy, strength, and humanity. |
Mirroring Madison's personal victory was the film's creator, Sean Baker, who became an Oscar legend by winning four statues for the same movie — Best Picture, Best Director, Best Writer of Original Screenplay, Best Editor. As producer, director, writer, and editor, Baker crafted 'Anora' with just $6 million, a fraction of what industry giants spend on blockbusters like "Dune: Part Two" (budget: $190 million, Oscars: Only two, for sound and visual effects). |
The film's conquest sparks reflection on the Academy's historical fascination with characters who tread the twilight zones of society. From Elizabeth Taylor's performance in 'Butterfield 8' to last year's victory of Emma Stone in the controversial 'Poor Things,' the Oscars have long walked a tightrope between critique and celebration of sex worker roles. 'Anora' intentionally diverts from the glitz of its cinematic predecessors while remaining a candid discourse on the commodification of sex in a capitalist society. |
Twitter quoted host Conan O'Brien who had this to say: |
 | Acyn @Acyn | |
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Conan: You know, Anora is having a good night. That's great news. Two wins already. I guess Americans are excited to see somebody finally stand up to a powerful Russian. | |  | | | 3:08 AM • Mar 3, 2025 | | | | | | 68.4K Likes 4.1K Retweets | 218 Replies |
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You can stream it tonight for just $5.99 on Prime Video! |
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