From Bloomberg: "It’s trading places all over again on Wall Street -- this time, on a multi-billion dollar scale.
Trading desks that last year raked in their biggest haul in almost a decade are expected to report a sharp drop in second-quarter revenue this week as life returns to normal and pandemic-induced market volatility fades. Meanwhile, on the ascent: investment bankers who are scrambling to keep up with a record deluge of deals, fueled by rebounding corporate confidence and free-spending private equity firms.
Wall Street Dealmakers Step Into Limelight With Windfall Nearing
Deal making is on the ascent as trading revenue faces drop
Goldman Sachs passed $1 trillion mark earlier than ever before
Never before has Goldman Sachs Group Inc., the leader on league tables tracking mergers and acquisitions, passed the $1 trillion mark for transactions so early in the year. JPMorgan Chase & Co. and Morgan Stanley, the No. 2 and 3 banks by market share respectively, have also seen large jumps in business.
All three lenders have worked on at least 100 deals more in the first half of the year, compared with the same period through 2019 before the pandemic began, according to data compiled by Bloomberg.
“We’ve done 200-plus $500 million deals in the first half, and the five-year average is in the 80 to 100 range,” Stephan Feldgoise, Goldman Sachs global co-head of mergers and acquisitions, said in an interview, citing data using all publicly available sources.
Banking on Deals
Investment bank deals surged in 2021
Source: Bloomberg
Now, the question is whether the tidal wave of takeovers, stock offerings and debt deals can make up for what’s expected to be a 28% drop in combined trading revenue at the five biggest U.S. banks -- a group that also includes Bank of America Corp. and Citigroup Inc., where low interest rates are pressuring lending margins. . ."
More The Cerne Abbas Giant is a 180-foot-tall figure of a naked man wielding a large club, carved with chalk into a hilltop in Dorset, England. The figure's generously sized erect phallus has earned it the nickname "Rude Man," and no doubt contributes to its popularity as a tourist attraction. Archaeologists have long speculated over exactly when, and why, the geoglyph was first created. Now, thanks to a new analysis of sediment samples, they have narrowed down the likely date for the Rude Man's creation to the late Saxon period—a surprising result, since no other similar chalk figures in the region are known to date from that time period.
"This is not what was expected," said geoarchaeologist Mike Allen, who has been working with the National Trust on the ongoing project to learn more about the Cerne Abbas Giant. "Many archaeologists and historians thought he was prehistoric or post-medieval, but not medieval. Everyone was wrong, and that makes these results even more exciting." National Trust senior archaeologist Martin Papworth told the Guardian he was "flabbergasted" by the results: "I was expecting 17th century.” In the 1990s, archaeologists relied on soil samples to date another well-known geoglyph—the 360-foot-long Uffington White Horse in Oxfordshire—to between 1380 and 550 BC. And the Long Man of Wilmington in East Sussex dates back to the 16th century. "Archaeologists have wanted to pigeonhole chalk hill figures into the same period," said Allen. "But carving these figures was not a particular phase—they’re all individual figures, with local significance, each telling us something about that place and time." the 1990s, archaeologists relied on soil samples to date another well-known geoglyph—the 360-foot-long Uffington White Horse in Oxfordshire—to between 1380 and 550 BC. And the Long Man of Wilmington in East Sussex dates back to the 16th century. "Archaeologists have wanted to pigeonhole chalk hill figures into the same period," said Allen.
"But carving these figures was not a particular phase—they’re all individual figures, with local significance, each telling us something about that place and time."
No one can deny that there are differences among us all > we can certainly dis-agree on almost anything all the time. The ultimate extrapolation when we don't understand what-we-don't-know about natural forces beyond our control is to personify the concept of "God" as a human being.
That's a fundamental flaw in our thinking. Not all religions make that original mistake.
The validity of any theory rests on the reliability of basic presuppositions. One predominant for a long time that is challenged now based on new archeological findings from thousands of years before shows humans (Home sapiens), Neanderthals, and related species all co-existed in the same places at the same places all over the globe and that they interbred. There was no single life-line originating or spreading out of Africa!
Look what happened anyway
SCIENTIFIC AMERICAN
Denial of Evolution Is a Form of White Supremacy
As museums reopen let’s introduce ourselves, and our children, to the original Black ancestors of all human beings
". . .The global scientific community overwhelmingly accepts that all living humans are of African descent. Most scientific articles about our African origins focus on genetics.
> The part of the story that is not widely shared is about the creation of human culture. We are all descended genetically, and also culturally, from dark-skinned ancestors.
> Early humans from the African continent are the ones who first invented tools; the use of fire; language; and religion.
> These dark skinned early people laid down the foundation for human culture. Considering the short life span of our early ancestors, these original innovators were probably also very young.
> No one who follows artistic trends will be surprised to learn that, from the beginning, human culture was essentially invented by teenagers. And by culture I don’t just mean the arts, I mean the whole shebang
"I want to unmask the lie that evolution denial is about religion and recognize that at its core, it is a form of white supremacy that perpetuates segregation and violence against Black bodies. Under the guise of “religious freedom,” the legalistic wing of creationists loudly insists that their point of view deserves equal time in the classroom.
> Science education in the U.S. is constantly on the defensive against antievolution activists who want biblical stories to be taught as fact. In fact, the first wave of legal fights against evolution was supported by the Klan in the 1920s. Ever since then, entrenched racism and the ban on teaching evolution in the schools have gone hand in hand. . .
19th century image of a prehistoric man. Credit: Getty Images
After a year of lockdown, museums, libraries and bookstores across America are reopening. This cultural reawakening’s beginning coincided with both the Juneteenth holiday and the one-year anniversary of the one of the largest protests in American history against racial injustice. As bookstores reopen, many are organizing displays of children's books that celebrate Black history. What you won’t find in even the biggest collections of books is the story of the dark-skinned early people who launched human civilization.
The global scientific community overwhelmingly accepts that all living humans are of African descent. Most scientific articles about our African origins focus on genetics. The part of the story that is not widely shared is about the creation of human culture. We are all descended genetically, and also culturally, from dark-skinned ancestors. Early humans from the African continent are the ones who first invented tools; the use of fire; language; and religion. These dark skinned early people laid down the foundation for human culture. Considering the short life span of our early ancestors, these original innovators were probably also very young. No one who follows artistic trends will be surprised to learn that, from the beginning, human culture was essentially invented by teenagers. And by culture I don’t just mean the arts, I mean the whole shebang.
I want to unmask the lie that evolution denial is about religion and recognize that at its core, it is a form of white supremacy that perpetuates segregation and violence against Black bodies. Under the guise of “religious freedom,” the legalistic wing of creationists loudly insists that their point of view deserves equal time in the classroom. Science education in the U.S. is constantly on the defensive against antievolution activists who want biblical stories to be taught as fact. In fact, the first wave of legal fights against evolution was supported by the Klan in the 1920s. Ever since then, entrenched racism and the ban on teaching evolution in the schools have gone hand in hand.
> In his piece,What We Get Wrong About the Evolution Debate, Adam Shapiro argues that “the history of American controversies over evolution has long been entangled with the history of American educational racism.”
At the heart of white evangelical creationism is the mythology of an unbroken white lineage that stretches back to a light-skinned Adam and Eve. In literal interpretations of the Christian Bible, white skin was created in God's image. Dark skin has a different, more problematic origin.
The fantasy of a continuous line of white descendants segregates white heritage from Black bodies. In the real world, this mythology translates into lethal effects on people who are Black. Fundamentalist interpretations of the Bible are part of the “fake news” epidemic that feeds the racial divide in our country.
For too long, a vocal minority of creationists has hijacked children’s education, media and book publishing. . .Scientific findings about human origins have been slow to trickle down into books written for young people. This major omission reflects the outsize effect that science-denying voices have on the books that find their ways not just into classrooms, but also into libraries, bookstores and children's homes. . .
And yet, even in the current literature about human origins that we do have, the end point of evolution is often depicted as a white man carrying a spear. This image not only eliminates our African heritage but also erases women and children from the picture. Because evolution is foundational knowledge, we need the story to be told in many different ways, by many different voices. . ."
Robert Bridge is an American writer and journalist. He is the author of 'Midnight in the American Empire,' How Corporations and Their Political Servants are Destroying the American Dream. @Robert_Bridge
"In the latest mental lapse from the left, religion is now claimed to be a white man’s device to prevent the evolutionary story of mankind’s connection to Africa from being revealed. Are we on the road to cancelling the Bible?
In any other period in American history, it would seem odd that a prestigious scientific journal would lead off an article with a partisan nod to political infighting and racial tensions. But these are far from normal times in American history