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NYC Council Grapples With Debate Over Bill To Ban Horse-Drawn Carriages
Authored by Nicholas Zifcak via The Epoch Times,
The family of Romanch Mahajan delivered emotional testimony over video link and in person on July 15, during a New York City Council hearing about a law that would phase out carriage horse rides in Central Park.
Tearful aunts and uncles of the deceased 18-year-old urged city council to outlaw the horse-drawn carriage rides and spare other families the grief they are still struggling to cope with.
The law, renamed in honor of the teen from India who died on June 17, would stop the city from issuing new licenses and over two years phase out the horse-drawn carriage rides through Central Park by June 1, 2028.
Majahan was thrown from a carriage after the horse spooked and bolted during a ride with his family on June 17 during their visit to New York. At the time the carriage driver had stepped down to take a photo of the Mahajan family in the carriage. City law requires carriage drivers to hold the reins of horses at all times.
Testimony from the family was followed by city officials, animal rights activists, and the union representing carriage drivers, TWU Local 100.
On Tuesday, New York City Council Speaker Julie Menin announced her support for the bill in a video on X, calling the teen’s death “heartbreaking and infuriating,” and preventable. She said it’s time “to begin the transition away from horse-drawn carriages. “
Multiple past attempts to end the horse-drawn carriage rides in Central Park have failed. The previous bill, Ryder’s law, introduced in 2022, was blocked by then-Speaker Adrienne Adams, according to former council member Bob Holden, who introduced the bill and attended Wednesday’s hearing to testify.
City Council members focused on how to help the 208 drivers navigate a career change and how to make sure horses are not sold for meat or end up pulling a carriage somewhere else.
Dr. Gabriel Cook, a veterinarian who was hired by carriage owners to look after the health of their horses, said the bill would be a death sentence for the horses. He said many horse retirement sanctuary facilities struggle financially and are not necessarily a better environment for the horses than their current stables.
Council Member James Gennaro of Queens berated city officials for lax enforcement of city law, demanding to know how many carriage medallions were revoked or suspended for violations in recent years.
“What have you done to enforce?” asked Gennaro when questioning Carlos Ortiz, the deputy commissioner at the city’s Department of Consumer and Worker Protection. Ortiz said there have been suspensions but could not provide exact numbers.
Gennaro favors reforming the industry and introduced a bill on June 11 that would require the city to study ways to improve safety for horses by such improvements as allowing pitching posts in the park to tie horses up and allowing them to start working at 7 a.m., when temperatures are cooler.
Ashley Byrne of People for the Ethical Treatment of Animals (PETA), echoed Gennaro’s argument of “little to no enforcement from the city,” leading to the injury and death of a long list of horses over the past several decades.
Gennaro challenged Byrne in a heated exchange about what PETA has done for horses after the death in June of carriage horse Deniz, which TWU Local 100 has said died from eating poisonous Japanese yew that the Central Park Conservancy had planted within reach of the carriage route. Gennaro said he organized a campaign and reached out to the Conservancy.
“What have I done about a plant?” Byrne shot back at Gennaro as the audience jeered the council member. But Gennaro’s allotted time was up.
Speaking on the topic on July 14, Mayor Zohran Mamdani expressed concern that adequate assistance be provided to carriage drivers, who would be put out of work.
“We support the spirit of the bill,” Mamdani told reporters, speaking at an unrelated press conference on July 14 in Inwood, Manhattan.
He suggested that the council do more to make sure drivers and stable hands employed in the industry find new employment.
Tyler Durden Thu, 07/16/2026 - 13:45Deadly Texas flood sweeps away deer in heartbreaking video — as emergency warnings issued in city where Camp Mystic tragedy struck
Goldman Slashes Global PC Shipment Forecast As Memory Chip Crunch Derails Upgrade Cycle
The global PC market is facing mounting pressure as a worsening memory-chip crunch, limited product availability, and consumers balking at higher prices threaten to deepen the downturn. These headwinds prompted Goldman analysts to "further trim" their PC shipment forecasts for this year and next.
"We further trim our global PC shipment estimates for 2026-27E, considering the near-term pressures of higher memory and CPU costs, and the flattening replacement cycle following the end of Win 10," said Allen Chang, a managing director and head of Goldman's Greater China Technology research team.
Chang continued, "We now expect global PC shipments to be down -14%/ -5% YoY in 2026E/ 27E, followed by zero growth in 2028E (vs. -10%/ +3%/ +3% YoY previously). Our updated PC shipment forecasts are 255m/ 243m/ 244m in 2026-28E, respectively."
Global PC Shipments: -14%/ -5%/ 0% YoY in 2026-28E
Global PC Revenues: -5%/ -2%/ +3% YoY in 2026 / 27E
PC ASP: increasing pricing due to specification upgrades and rising BoM
Global PC shipments: consumer vs. commercial
Chang noted that AI PCs are expected to remain a top growth driver:
We expect global AI PC shipments to reach 150m / 199m in 2026E / 28E (+15% CAGR), vs. 150m / 219m in our previous forecast, indicating 59% / 82% penetration of the total PC shipments worldwide. We expect global AI PC revenues to be US$169bn / 221bn in 2026E/ 28E (+14% CAGR), vs. US$169bn/ $226bn previously. We are positive on AI PC penetration ramp up in 2026E, with continuous introduction of new AI applications, such as OpenClaw and Seedance by Bytedance.
We expect global Gaming PC shipment to reach 26m / 28m in 2026E / 28E (+4% CAGR, vs. -2% CAGR for overall PC shipments), indicating 10% / 12% penetration of the total PC shipments worldwide. We expect global Gaming PC revenues to be US$46bn / $52bn in 2026E/ 28E (+7% CAGR, vs. +1% CAGR for overall PC revenues), riding on customers' rising specialized needs for PCs. We model global Gaming PC ASP to increase, driven by specification upgrades (report link), including graphic card platform upgrades, thinner design, AI features, silent mode, and long durability, which would bring better user experience when enjoying triple-A games.
Professional subscribers can read a lot more on tech trends here at our new Marketdesk.ai portal.
Tyler Durden Thu, 07/16/2026 - 13:25Groom spends $24K to zipline into wedding like James Bond
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Deflationary Money Hits Different: Losing Half Its Price And Winning Anyway
Authored by Bryan Lutz, Contributor at The Sovereign Capitalist:
The FUD is back, baby.Bitcoin is down nearly half from its 2025 high. And now, the obituaries are out of cold storage and back in heavy rotation. Sentiment surveys are scraping levels we haven’t seen since the 2022 crypto-winter, and the financial press has rediscovered its favorite genre: the Bitcoin post-mortem.
And this time they’ve got a chart to wave around. The Dow just had its best year against Bitcoin since 2022 – the Dow/BTC ratio has more than doubled off its August 2025 low, from 0.36 to 0.84.
Here it is. We’ll even draw the red line for them:
The Dow’s twelve-month winning streak against Bitcoin. Note what the line still hasn’t touched: 1.0.
Anyone holding through it felt every point. If you wanted to write the “Bitcoin is finished (again)” piece, this is the chart you’d lead with.
Notice what the line still hasn’t done, though.
It hasn’t touched 1.0.
After the worst sentiment stretch in years, after a ~45% drawdown, after twelve months of losing to the most boomer-coded stock index on earth, the entire Dow Jones Industrial Average still cannot buy one Bitcoin.
Against thirty of America’s biggest companies, the coin wins, with change left over.
Flip the fraction.If that seems impossible, it’s because you’re reading the fraction the way CNBC wants you to read it:
Bitcoin
───────
$$$$$$$
Bitcoin as the numerator, dollars as the denominator, and the numerator just got cut in half. Case closed, right?
Wrong fraction. As Mark Jeftovic laid out in It’s the denominator, stupid, the entire point of Bitcoin is that it isn’t the thing being measured. It’s the thing you measure with. Put the index where it belongs:
DOW
───────
BITCOIN
Now extend the chart back a decade and hit the log button, which is a one-click jailbreak for fiat-denominated brains:
The Dow, denominated in Bitcoin. A 99% decline that survived every Bitcoin crash along the way, including this one.
In 2014 it took more than 40 Bitcoin to buy the Dow. At the 2015 extreme, 84.
Today: 0.83.
Measured in the new denominator, the Dow has lost roughly 99% of its value in twelve years, and the “comeback” everyone is celebrating shows up on that chart as a wiggle at the bottom of a cliff. Bitcoin just took its worst beating in years and gave back approximately none of a decade of relative gains.
That’s what deflationary money does. It hits different.
It’s about the mathsThe Dow is priced in dollars, and dollars multiply, inflate, depreciate, and then die… which is the business model for the whole fiat system. M2 only ever pauses on its way up, every crisis gets solved with more of it, and index earnings get marked up in the same shrinking units.
Bitcoin’s supply schedule, meanwhile, doesn’t attend FOMC meetings. The halvings keep halving. Twenty-one million, take it or leave it.
Run the numbers since January 2000: the Dow is up 361% in dollars. M2 is up 394%. Divide one by the other and the twenty-six-year bull market vanishes: measured in the money itself, the index has gone nowhere. Every point of “Dow 52,000” that isn’t printer output rounds to zero.
The Dow and the money supply, same starting line, 26 years later. The index never got ahead of the printer.
So, the fraction has a numerator inflated by an expanding money supply, sitting on top of a denominator that does not expand. Run that equation for a decade and the line on the chart is the only possible output. The drawdowns – 2018, 2022, this one – are volatility inside the trend. And that trend is division between fiat money and Bitcoin.
A Dow’s comeback measured in a shrinking yardstick must sprint just to stand still. This year, it’s rallied hard in dollars. In Bitcoin terms, it clawed back a rounding error.
Same story, slower clock.If this framework sounds familiar, it should. Gold holders have been living it since 1971, just at a different tempo.
In 2001 the Dow cost 42 ounces of gold. Today, with the Dow at nominal record highs and the algos doing victory laps, it costs 12.7 ounces. Two-thirds of the index’s gold-denominated value, gone, during a quarter century of “stocks always go up”.
Yes, gold and Bitcoin diverged this cycle. Gold at $4,142 while Bitcoin sits in a drawdown. They have different volatility profiles, and different adoption curves. Yet, they share the same denominator maths. One asset is the incumbent hard money, the other is the challenger still crossing the chasm. The DOW index can’t outrun either of them over any window that matters.
“Stocks at record highs” is mostly the yardstick shrinking. It is always has been.
Deflationary Money Still Undefeated this DecadeHere’s the thing about extreme bearish sentiment: it’s a report on the emotional state of leveraged tourists, not on the asset. Nothing about Bitcoin(or gold) changed this year. The supply schedule didn’t change. The halvings didn’t change. The $300+ trillion in bonds denominated in a melting currency didn’t change, except to get bigger.
The only thing that changed is the price, quoted in the old denominator, and the old denominator’s entire job description is to go down.
So, the mainstream news cycle might be right about one thing:
Deflationary money doesn’t win every year.
However, it does win every decade, and it’s undefeated.
Tyler Durden Thu, 07/16/2026 - 13:05