Morning Market Download from Invincible Money

Personal finance + economics + markets

Staying on top of the markets, economics and the global issues that affect your money takes a lot of time and effort. We distill it down to a quick 5 minute read to help you make better money decisions.

ChatGPT May Manage Your MoneyA new study has shown that ChatGPT and A.I. can at least do better than just throwing darts at a board. It's a start and will get better.

Stop the Robots! (for 6 months)Speaking of AI, Must, the Woz and 1,000 other tech leaders are calling for a 6 month pause in AI development due to the speed at which it's progressing. They want to give regulators time to catch up.

In 2005 I read the book by Ray Kurzweil "The Singularity if Near" wherein he talks about how AI development will one day move so fast we won't be able to keep up with it.

Today Elon Musk, the Woz and 1,000 AI developers issued a paper saying we need a 6 month pause on development because we can't keep up and it's getting dangerous.

Buckle up! No one will stop development. They can't when world domination is the prize to the first to get there.

No Ethical AIIn related and scary news, both Microsoft and Google have caught people's attention as they laid off staff in their "responsible AI teams."

Credit Suisse WhistleblowersA whistleblower report claims that CS has been helping wealthy clients avoid taxes for years. In 2014 the now troubled bank pleaded guilty to "knowingly and willfully" helping U.S. clients hide assets offshore away from the IRS. It appears they violated the agreement with the Feds, according to a report from the Senate Finance Committee that claims they didn't really stop.

You don't say! I'm shocked. For reference, banks were fined $321 billion in the 10 years after the Great Financial Crisis of 2008, but they made $1 Trillion. I wonder why they keep doing it, despite the fines?

US Banking Overhaul ComingRegulators plan to boost capital and liquidity standards for banks with assets over $100 billion, bolster the stress tests, increase long-term debt requirements and possibly increase deposit insurance coverage above the $250,000. It should be noted that many of the startups who had money in SVB had millions in their accounts for payroll.

Apple Launches Buy Now Pay LaterMobile shoppers will be able to split 4 payments over 6 weeks with no interest of fees, thus making it easier for shoppers with no money to buy things they don't need.

More Money Needed to be GreenThe International Renewable Energy Agency reported that an additional $35 trillion will be needed worldwide to meet the 2030 goals agreed upon in the Paris Climate Agreement.

Crypto - SBF Bribes ChinaDisgraced and not yet jailed founder of FTX has been charged by the US government with bribing Chinese officials in the amount of $40 million in crypto.

Be a Better Investor

Take Action The majority of Americans now have a side gig, trying to earn extra money. Here are 5 MORE ways to earn extra income.

1. Sell your photography: Sell your photos online through websites like Shutterstock, iStock, or Adobe Stock.

2. Become a virtual assistant: Offer administrative, technical, or creative assistance to individuals or businesses remotely.

3. Start a YouTube channel: Create content on YouTube and monetize your videos through advertising, sponsorships, or merchandise sales.

4. Create and sell digital products: Create and sell digital products such as ebooks, courses, or software.

5. Offer pet-sitting services: Provide pet-sitting, dog-walking, or pet-grooming services to pet owners in your area.

Legal StuffNothing in this newsletter is financial advice. Always do your own research and think for yourself.