Global COVID deaths drop 90% since February: https://apnews.com/article/health-europe-geneva-pandemics-covid-534584ed8ce36fde827bb93bd839e587 .
New variants beating Zero COVID: https://apnews.com/article/health-europe-geneva-pandemics-covid-534584ed8ce36fde827bb93bd839e587 .
US listeria outbreak linked to deli meats and cheese: https://www.nbcnews.com/news/us-news/one-dead-warning-issued-deli-meat-cheese-listeria-outbreak-rcna56526 .
Voters preserve a woman’s right to choose: https://apnews.com/article/2022-midterm-elections-abortion-8779f3ee57d4d20d54861a5ed6ba72ff .
Democrats win governorships in Michigan, Wisconsin and Pennsylvania: https://www.aol.com/news/democrats-win-governors-races-three-115903264.html . The traditional Democratic Blue Wall in the Northeast shows significant signs of revival.
Democrats outperform in state legislature races: https://www.yahoo.com/news/democrats-outperform-expectations-in-state-legislatures-around-the-country-215022086.html .
Maryland and Missouri voters approve recreational pot: https://apnews.com/article/2022-midterm-elections-marijuana-8b91194279bf42c9bc01cbabdab0c015 .
Orange Julius will be told to delay campaign announcement until after Georgia run-off: https://news.yahoo.com/trump-told-delay-announcement-2024-015722067.html . I love it. The delay is necessary to not swing Georgia voters against Herschel Walker. But the delay could likely sink OJ’s campaign, especially if Walker loses. This may be the first time a bimbo brings down OJ with everyone watching.
Meanwhile, Kevin McCarthy’s dream of the Speakership isn’t going well: https://www.salon.com/2022/11/09/knives-are-out-for-kevin-mccarthys-dream-of-becoming-speaker-just-became-a-nightmare/ . I have never thought of Kevin McCarthy as competent. He certainly proved spineless after January 6. Now it appears he will yield little power as Speaker, even if he is elected to the post. UPDATE: Steve Scalise announces his bid to become House majority leader: https://thehill.com/homenews/house/3727731-scalise-announces-bid-for-house-majority-leader/ . I am wondering if McCarthy’s support for Orange Julius is costing him with the House GOP. There have been reports for quite some time that GOP discussions in private are far different than their public face. WSJ: We agree: https://www.wsj.com/articles/frustrated-republicans-try-to-explain-lack-of-midterm-red-wave-11668036382 . Wow, how often does this happen?
Russians announce withdrawal from Kherson: https://www.nbcnews.com/news/world/russia-ukraine-war-kherson-retreat-kirill-stremousov-rcna56362 . The Ukrainians are suspicious and intend to move slowly.
US says well over 100,000 Russian troops have been killed or wounded in Ukraine: https://apnews.com/article/russia-ukraine-zelenskyy-europe-army-joint-chiefs-of-staff-688e99d37f25ac8340b6a96a79a89abf . The US estimates Ukrainian casualties at 40,000.
Also, the Pentagon believes Russia has lost half of its tanks in Ukraine: https://thehill.com/policy/defense/3727780-pentagon-russia-has-likely-lost-half-its-tanks-in-ukraine/ . There is no doubt the Russian military will emerge weaker from this war then they went in. And Western sanctions will make it difficult for them to rebuild materiel. Russia is well on its way to becoming a weak satellite of China. However, all of these developments make it advisable for Russia to use the winter to negotiate an end to the war in Ukraine.
WSJ: Biden to talk to Xi about tensions at G-20 summit: https://www.wsj.com/articles/biden-plans-to-meet-chinas-xi-and-discuss-how-to-avoid-conflict-11668055288 .
Meta lays off 11,000 employees: https://www.cnn.com/2022/11/09/tech/meta-facebook-layoffs . So the stock gained 5% on this news. When your stock loses 70% of its value, it must gain 233% to return to its value at the peak. WSJ: More: https://www.wsj.com/articles/facebook-parent-meta-to-cut-11-000-jobs-11667992427 .
WSJ: Redfin lays off 13% of its staff: https://www.wsj.com/articles/redfin-shuts-home-flipping-business-lays-off-13-of-staff-in-slumping-housing-market-11668010665 . Redfin also exits the home-buying business, a year after it could have learned something from Zillow’s similar failure.
WSJ: In other economic news … Beyond Meat reports sagging sales, growing losses: https://www.wsj.com/articles/beyond-meat-reports-weak-sales-and-mounting-losses-11668040918 . I’ve tried their product. It’s not bad, not great … Rivian’s losses mount: https://www.wsj.com/articles/rivians-losses-mount-as-it-continues-to-burn-through-cash-11668033125 . There are plenty of companies out there who in a “loans are free” environment chose to bet on some risky ideas. The interest rate rises are going to weed out a lot of these players.
Musk kills new Twitter label hours after launch: https://sports.yahoo.com/musk-kills-twitter-label-hours-195451061.html . You would think employees are distraught to work nights and weekends for this sort of hare-brained decision-making. WSJ: More: https://www.wsj.com/articles/twitter-launches-gray-official-label-to-verify-certain-accounts-11668008210 . Still more: Musk tries to convince advertisers to stay: https://www.wsj.com/articles/elon-musk-tries-to-convince-wary-advertisers-to-stay-on-twitter-11668034986 . HaHaHaHaHa …
Crypto billionaire may be wiped out: https://www.aol.com/news/thirty-old-crypto-tycoon-sam-010438697.html . The initial report indicated FTX was rescued by the Binance buyout, with SBF’s net worth dropping 94% from $16 billion to $1 billion. However, Binance pulled out: https://www.cnbc.com/2022/11/09/binance-backs-out-of-ftx-rescue-leaving-the-crypto-exchange-on-the-brink-of-collapse.html . So FTX does not appear to have a path forward.
The failure is also creating significant downward pressure in the crypto industry. One suspects there will be a “run on the banks”, and there may not be adequate liquidity for many of these firms to survive. WSJ: We agree (although we didn’t know about the deal collapse): https://www.wsj.com/articles/crypto-has-reinvented-bank-runs-11668019310 . What? Twice in one day? So will these two unicorns mate and re-establish the breed? I doubt it. After all, we’re taking about the Journal here. I don’t think we share any chromosomes … WSJ: Okay, we found out about the deal collapse: https://www.wsj.com/articles/binance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963 .