Rite Aid files for bankruptcy: WSJ: https://www.wsj.com/business/retail/rite-aid-bankruptcy-filing-opioid-a7e9ffe5 . Note that another potential contribution to the opioid claims may fall apart.
WSJ: Again, we do not understand economics or proper analysis: https://www.wsj.com/economy/a-recession-is-no-longer-the-consensus-3ad0c3a3 . Reader comments on this article are also highly critical of the Journal and economists. As we have pointed out before, the Journal has previously reported that in the past, when this measure went over 38% of economists, a recession occurred. As we pointed out three days ago, a majority of Fed members continue to favor a rate hike, and the latest inflation data was hot. We will watch the data between now and the next Fed meeting, but another Fed rate hike is absolutely still on the table.
WSJ: Uncle Sam’s crypto stash over $5 billion: https://www.wsj.com/finance/currencies/federal-government-bitcoin-5-billion-78ce0938 .
China’s Evergrande mess continues: WSJ: https://www.wsj.com/world/china/how-evergrandes-chief-tried-to-turn-things-aroundand-failed-eb28769 .
WSJ: Status of the Israel-Hamas clash: https://www.wsj.com/world/middle-east/gaza-strip-history-israel-hamas-1ede727d . Latest reports are over 1,400 Israelis dead and over 2,300 dead in Gaza – a total of over 3,700. Gaza also claims another 9,000 have been injured. Israel says Hamas holds 155 kidnap victims. Also, 29 Americans are among the dead in Israel. More: https://www.wsj.com/world/middle-east/israel-hamas-hostage-crisis-ea26e3d7 .
Egypt reluctant to host Palestinian refugees: https://www.cnn.com/2023/10/13/middleeast/egypt-rafah-crossing-gaza-palestinians-mime-intl/index.html . Israel wants Egypt to allow in the Palestinian refugees to reduce casualties as it seeks to annihilate Hamas. But if they bomb Gaza to rubble, when would these people be able to return to Gaza? It seems clear why Egypt wants no part of this. WSJ: More: https://www.wsj.com/world/middle-east/egypt-weighs-letting-in-foreigners-and-palestinians-from-gaza-7df43a5f .
Israel claims the killing of another Hamas leader: WSJ: https://www.wsj.com/world/middle-east/israel-airstrikes-kill-key-hamas-leader-as-gaza-humanitarian-crisis-grows-5ccdc18a .
WSJ: The drone revolution in warfare continues: https://www.wsj.com/world/in-israel-and-ukraine-mix-of-drones-and-brute-force-shows-warfares-future-797946ed . And drone capabilities will continue to evolve rapidly.
Orange Julius’ criminal defense strategy: delay, delay, delay: https://thehill.com/regulation/court-battles/4255276-trump-incremental-delays-federal-trials/ . We have pointed out many times that this is OJ’s civil litigation strategy: Wear your opponent down through delay, and then settle. His criminal litigation strategy is essentially the same, with a twist: delay all the cases through January 2025, win the election in November 2024, and then appoint an Attorney General who will bury the cases.
Among the flaws of this “strategy”: (1) Judge Chutkan in DC has made clear that she wants a speedy trial; (2) the state court cases in NY and Georgia do not come under presidential authority; and (3) excepting the circumstances of a failure of Biden’s health or a third party candidate, OJ won’t win the election. However, as he has no substantive defense to the charges against him, the procedural approach is his “best” option.
Biden outraises OJ almost 2-to-1 in the third quarter: https://www.aol.com/biden-raises-71-million-3rd-120118329.html . WSJ: More: https://www.wsj.com/politics/elections/biden-tops-trump-and-other-takeaways-from-latest-2024-campaign-fundraising-1d1583e9 .
Nancy Mace faces increasing challenge in keeping her House seat: https://www.businessinsider.com/nancy-mace-michael-moore-south-carolina-2024-redistricting-2023-10 / . Also, the South Carolina redistricting case could add additional problems for her.
WSJ: Activist takes stake in News Corp: https://www.wsj.com/business/deals/activist-builds-news-corp-stake-plans-to-seek-changes-c45896da . This focuses entirely on raising the company’s value. Reporting bias is not addressed.
WSJ: Brit billionaire nears acquisition of minority stake in Manchester United: https://www.wsj.com/business/deals/british-billionaire-jim-ratcliffe-nears-deal-to-buy-minority-stake-in-manchester-united-72483ce1 .
Suzanne Somers passes at 76: https://www.cnn.com/2023/10/15/entertainment/suzanne-somers-death/index.html . Somers had fought breast cancer for over 20 years. WSJ: More: https://www.wsj.com/arts-culture/television/suzanne-somers-dead-76-90f8229 .