The Great Resignation: https://www.cnbc.com/2021/06/29/more-people-plan-to-quit-as-return-to-work-plans-go-into-effect-.html . This newsletter has argued for some time that we are in the midst of a significant economic dislocation. This stunning new evidence demonstrates that nearly every worker is looking for a change in circumstances. How many actually change remains to be seen, but quits are at an all-time high right now.
The most obvious message to employers is to figure out remote work immediately, and accommodate those employees for whom this is a priority. This is apparently a large percentage. One financial advantage of doing this is that the need for office space is reduced. Much of my work in this century has been done remotely. The primary consequence was that I worked more hours (no commute) and raised my productivity by just doing more of the functions needed to complete a project.
Also (no kidding) when you work 80 hours a week, you can do the work of 3 or 4 people. A lot of coordination is eliminated. This will encourage more people (in service industries) to strike out on their own, because you become more confident that you can competently outperform the corporate model.
There is some loss of camaraderie in this environment. However, employers are much less loyal to their employees than when I commenced fulltime employment (the early seventies). Also, as a consultant, my clients expect much less in the way of face-to-face meetings and entertainment than was true in the early days. This does not mean that the need for contact has been reduced; it is just done more efficiently.
The coming eviction crisis: https://finance.yahoo.com/news/end-of-cdc-moratorium-could-bring-a-wave-of-evictions-184937369.html . This is another unresolved dislocation coming to our doorsteps soon. This is also a significant crisis for landlords. The ultimate effects of this are likely to include increased rents.
Pfizer booster shot: https://www.yahoo.com/lifestyle/should-people-get-a-pfizer-booster-shot-after-receiving-johnson-johnson-experts-weigh-in-170437803.html . Here’s another indication that experts see the mRNA technology as superior protection due to the strength of the immune response.
WSJ: US vaccination sites are closing shop: https://www.wsj.com/articles/covid-19-vaccine-sites-start-to-shut-down-11625050800 .
WSJ: Vaccination lowers viral load in a subsequent infection: https://www.wsj.com/articles/vaccinated-people-who-get-infected-carry-less-covid-19-virus-cdc-researchers-say-11625089567 .
COVID mutation creates an alternate pathway to infect human cells: https://scitechdaily.com/covid-19-mutation-sars-cov-2-virus-can-find-alternate-route-to-infect-cells/ . If this finding holds up, we could face an entirely new threat in the pandemic. This could create devastating mortality if this mutation becomes common, because the resulting virus could evade even the mRNA vaccines.
WSJ: The COVID origin trail grows cold: https://www.wsj.com/articles/covid-origins-china-wild-animal-farms-pandemic-source-11625060088 .
Delta, Delta everywhere: https://www.cnn.com/2021/06/30/health/us-coronavirus-wednesday/index.html . First, 300 deaths per day translates to more than 100,000 annually. Second, that number will grow significantly under the anticipated Delta surges in areas where a majority of adults are not vaccinated. Third, please stop talking about herd immunity. We are not going to get there. Vaccination should be promoted as an individual decision to save your own life. The secondary benefit is that increasing levels of vaccination increase herd resistance. WSJ: More: https://www.wsj.com/articles/delta-most-common-covid-19-variant-in-u-s-data-show-11625092580 .
Delta in Europe: https://www.dw.com/en/where-the-delta-coronavirus-variant-is-spreading-in-europe/a-58095101 . Did Delta Airlines groan when the COVID variant greek lettering system was adopted?
Australia reminds everyone of the importance of vaccinations: https://www.msn.com/en-us/news/world/the-delta-variant-infected-almost-everyone-at-a-superspreader-party-in-australia-except-the-6-vaccinated-people/ar-AALDptn?li=BBnb7Kz . WSJ: The Delta variant is overloading contact tracing in a country that actually does it: https://www.wsj.com/articles/delta-variants-spread-outpaces-australias-covid-19-contact-tracers-11625045400 . This is another big red warning sign for the unvaccinated in the US.
India’s monthly COVID deaths fall 43%: https://www.independent.co.uk/news/coronavirus-news-live-covid-deaths-b1875995.html .
Indonesia’s COVID crisis continues to accelerate: https://www.cnbc.com/2021/07/01/indonesias-health-minister-on-delta-covid-surge-hospital-capacity.html . As we know, when hospitals become fully occupied, mortality surges as care quality declines.
WSJ: China’s economy shows signs of weakness: https://www.wsj.com/articles/chinas-economy-flashes-hints-of-weakness-11625033579 .
Charges expected tomorrow against OJ Inc.: https://theweek.com/donald-trump/1002137/manhattan-da-expected-to-bring-first-criminal-charges-against-trump-org-on . Again, this preliminary filing is designed to get Weisselberg (and other OJ Inc. execs) to flip. The prosecutors have much more than this. The defense attorneys are attempting to downplay these charges as a “spin” tactic against the charges that will come later. That is often a sign that they lack substantive defenses. More: https://www.cnn.com/2021/06/30/politics/trump-organization-cash-bonuses/index.html . WSJ: The spin version: https://www.wsj.com/articles/trump-organization-and-cfo-allen-weisselberg-expected-to-be-charged-thursday-11625060765 . More: https://www.voanews.com/usa/trump-company-executive-indicted-tax-probe-ap-sources-say . WSJ: More: https://www.wsj.com/articles/trump-organization-and-cfo-allen-weisselberg-expected-to-be-charged-thursday-11625060765 .
Here’s the insider betting on flipping the executives: https://www.msnbc.com/the-reidout/watch/trump-weisselberg-trump-organization-workings-discussed-by-former-trump-org-evp-115794501571 . Justice would certainly be served if she’s right. However, the fact that charges have been filed indicates that so far, the executives have not taken the deal. You do have to wonder why.
OJ takes his place in infamy: https://www.mediaite.com/news/trump-ranked-worst-living-former-president-but-he-did-beat-three-dead-ones/ . More interesting is the actual survey summary: https://www.c-span.org/presidentsurvey2021/?page=overall . Note that OJ, at 41 of 44, ranks well below the completely incompetent and corrupt Warren Harding (37). OJ has to gain 42 points (13.5%) to tie number 40, William Henry Harrison, who died one month into his presidency. Harrison braved cold weather to deliver the longest inaugural in American history (over two hours), caught pneumonia and died: https://en.wikipedia.org/wiki/William_Henry_Harrison .
Cosby sexual assault conviction vacated, further prosecution barred: https://www.cnbc.com/2021/06/30/court-overturns-bill-cosbys-sex-assault-conviction-bars-further-prosecution.html . But he is forever convicted in the court of public opinion. And deservedly so. He is a serial abuser of women. And who was the idiot prosecutor who cut this deal with Cosby? Yes, OJ’s impeachment attorney, Bruce Castor: https://slate.com/news-and-politics/2021/06/bill-cosby-bruce-castor-pennsylvania-supreme-court.html . WSJ: More: https://www.wsj.com/articles/bill-cosbys-conviction-overturned-by-pennsylvania-supreme-court-11625073132 .
House approves January 6 select committee: https://news.yahoo.com/house-democrats-and-2-republicans-vote-to-create-select-panel-to-probe-jan-6-capitol-attack-212054657.html . The 2 Republicans voting with all Democrats were Liz Cheney and Adam Kinzinger. WSJ: More: https://www.wsj.com/articles/house-to-vote-on-creation-of-select-committee-to-probe-jan-6-attack-11625070259 .
Prosecutors show their plan to dismantle the Oath Keepers: https://www.cnn.com/2021/06/30/politics/oath-keeper-cooperation-january-6-conspiracy/index.html . This is a major development in the January 6 prosecutions.
Idiot Olympics contender Kristi Noem takes on the border: https://time.com/6076921/billionaire-gop-donor-bankrolls-national-guard-border-deployment/ . Whenever the GOP builds a logical bridge, several of the spans are completely missing. How are South Dakota taxpayers benefitted by having a private donor pay for a National Guard mission to a border over 1,000 miles away? The 50 National Guard troops who are having their lives disrupted cannot be happy about this stunt.
Federal judge intervenes to derail the entry of Idiot Olympics favorite Ron DeMentis: https://www.wsj.com/articles/judge-blocks-florida-law-barring-twitter-facebook-bans-of-candidates-11625106851 .
Miami condo collapse: https://abcnews.go.com/US/surfside-building-collapse-latest-12-dead-149-missing/story?id=78574497 . Key points from this lengthy article: (1) The “unaccounted for” plus recovered deaths (now 12) has remained at 161 since early in this process; (2) Bodies have been discovered but not recovered, and are mapped out in a grid; (3) blame is focusing on the building inspector, Ross Prieto. It seems clear that this has been a search and recover operation from early on. Officials have simply allowed for the possibility of a miracle, but none has occurred. Update: “confirmed” death toll now 16: https://apnews.com/article/miami-surfside-building-collapse-death-toll-rises-5924a836ff3963cafd79e54228d6e19c . WSJ: More: https://www.wsj.com/articles/hundreds-gather-for-vigil-for-miami-area-building-collapse-victims-11624970204 . Further update: toll is now 18: https://www.wsj.com/articles/miami-area-collapsed-condo-crews-keep-looking-for-survivors-on-day-7-11625059107 .
Apparently arguments on the board delayed repairs and caused the majority of the board to resign in 2019: https://www.msn.com/en-us/news/us/majority-of-florida-condo-board-quit-in-2019-as-squabbling-residents-dragged-out-plans-for-repairs/ar-AALDvxK?li=BBnb7Kz . This crap goes on all the time. However, this is the first time the residents have received a death penalty for board bickering. And remember, the mass resignations were two years ago.
WSJ: A visual analysis of the Miami condo collapse issues: https://www.wsj.com/articles/problems-with-the-miami-area-condo-a-visual-analysis-11625087583 .
NCAA allows name, image and likeness (NIL) payments to college athletes: https://sports.yahoo.com/ncaa-takes-next-step-toward-nil-payments-with-rule-change-expected-to-pass-on-wednesday-203631607.html . Long overdue, and apparently nudged along by the recent Supreme Court ruling. There Justice Kavanaugh pointed out that the NCAA business model would be illegal for any other business. WSJ: More: https://www.wsj.com/articles/ncaa-will-let-athletes-earn-money-name-image-likeness-11625092549 .
WSJ: Heat wave takes 76 in Oregon and Washington: https://www.wsj.com/articles/heat-wave-in-northwest-peaks-but-temperatures-still-hot-11625066552 .