COVID misinformation from Internet surveys: https://www.usnews.com/news/health-news/articles/2023-07-13/did-americans-actually-drink-bleach-during-the-covid-19-pandemic .
WSJ: Aspartame health risks: https://www.wsj.com/articles/aspartame-health-risks-44fc5d03 . “Possible carcinogen” is good enough for me to never drink this stuff: https://www.wsj.com/articles/aspartame-health-risks-44fc5d03 .
WSJ: J&J sues doctors behind talc research: https://www.wsj.com/articles/johnson-johnson-sues-doctors-over-studies-linking-talc-based-products-and-cancer-78ffd2a7 . On its face, this looks like an attempt to bully researchers who want to examine J&J products. Let’s see if the court allows this to go to trial.
Markets bet lower Fed rates soon: https://money.usnews.com/investing/news/articles/2023-07-13/marketmind-markets-bet-july-2023-is-peak-fed . Market pricing says there will be a 25 basis point increase at the Fed meeting at the end of July (I agree), no further rate increases, and a rate reduction of 100 basis points (1%) by July 2024. I believe there will be another 25 basis point increase at one of the two following Fed meetings, and a rate reduction from there of no more than 25 basis points by July 2024.
The core inflation rate is at 4.8% (way above the Fed’s target) and the employment market remains tight. The Fed needs to continue to tighten to drive the inflation rate closer to 2%, and it cannot ease rates until the inflation rate gets down to very near 2%. WSJ: St. Louis Fed chair steps down: https://www.wsj.com/articles/st-louis-fed-president-james-bullard-to-step-down-32937636 .
WSJ: Crypto lender Celsius former CEO arrested: https://www.wsj.com/articles/crypto-lender-celsius-ceo-alex-mashinsky-arrested-sued-by-regulators-5169ff4d . See, your day was not that bad … Meanwhile, a mixed decision in another crypto case: https://www.wsj.com/articles/ripple-wins-early-dismissal-of-some-claims-in-sec-lawsuit-over-xrp-sales-f88f968f .
Office property values decline globally: https://money.usnews.com/investing/news/articles/2023-07-13/hybrid-work-trend-may-wipe-out-800-billion-from-office-property-values-by-2030-mckinsey-study .
WSJ: FTC investigates ChatGPT: https://www.wsj.com/articles/chatgpt-under-investigation-by-ftc-21e4b3ef . Meanwhile, FTC continues fight to halt Microsoft acquisition of Activision: https://www.wsj.com/articles/ftc-continues-fight-to-block-microsofts-75-billion-deal-for-activision-1dbf944d .
Special counsel hammers Orange Julius request to delay the documents trial: https://www.rawstory.com/doj-pushes-back-against-trump-delay/ . We all know OJ has no meaningful defense to his illegal retention of classified documents. So OJ’s counsel seeks to keep delaying the trial. Judge Loose Cannon should not permit this behavior. WSJ: More: https://www.wsj.com/articles/no-reason-to-delay-trumps-trial-prosecutors-say-702741f4 .
WSJ: OJ’s income and assets: https://www.wsj.com/articles/donald-trump-earned-millions-from-speeches-golf-and-resort-ventures-e4b0c46c . Glaring off the page is a $2 million speaking fee from the Unification Church. Also, I remember some years ago when Forbes downgraded the estimate of his wealth from $3 billion to $2.5 million. OJ claimed his assets were at least $10 billion. Now he self-reports $1.5 billion? Obviously, something does not add up here.
DOJ appeals Stewart Rhodes’ 18 year sentence: https://www.politico.com/news/2023/07/12/doj-appeals-oath-keepers-sentences-00106040 . While this type of appeal is rare, it is permitted. As readers may remember, I believe his sentence should have been at least 20 years.
January 6 protester sues Fox Not-the-News for defamation: https://www.usatoday.com/story/news/politics/2023/07/13/ray-epps-brings-lawsuit-against-fox-news-for-defamation/70408344007/ . I like that this former MAGA Maniac has turned on his former news source. As the lawsuit and article point out, this guy has had to sell his home and business after death threats from MAGA World after he was falsely “accused” of being an FBI agent on Fox-Not-the-News. As he didn’t enter the Capitol, I call him a protester, while MAGA World assumes he’s a traitor to their cause. And he’s a Marine veteran. Facts not only make no difference to these conspiracy theorists, facts apparently offend them.
WSJ: Another January 6 insurrectionist sentenced: https://www.wsj.com/articles/jan-6-rioter-who-assaulted-officers-gets-more-than-seven-years-in-prison-a7adecbe .
WSJ: Marjorie Taylor Greene, ousted from Freedom Caucus, gets closer to Kevin McCarthy: https://www.wsj.com/articles/marjorie-taylor-greene-lauren-boebert-feud-freedom-caucus-641b7067 .
Institutionalized racism: https://apnews.com/article/mississippi-appointed-judges-lawsuit-e9e4c709dca14d4b8e67a30f7e335c20 . While the country has worked diligently since the Civil War to end racism, there have been forces in the South that have worked just as diligently to maintain it. Jim Crow laws continued for many years without federal intervention. However, when they fell, more subtle attempts continued. The situation in Jackson represents an obvious denial of the right to vote, and should be struck down.
Prime Day record sales for Day 1: https://finance.yahoo.com/news/amazon-reports-record-single-day-sales-during-first-24-hours-of-prime-day-145228301.html . Day 1 is in at $6.4 billion; Day 2 is estimated at $6.3 billion.
San Francisco Anchor Brewing shuttered after 127 years: https://www.bbc.com/news/business-66193315 . The BBC repeats Sapporo’s publicity department. An alert reader (from San Francisco) sent the following article: https://vinepair.com/articles/sapporo-usa-anchor-brewing-liquidation-analysis/ . Good research embarrasses the BBC, doesn’t it?