Friday, December 31, 2021

Iconic Actress Betty White Dies at 99

Betty White, who set the record for the longest television career in history, spanning eight decades, died Friday at the age of 99.

White, born on January 17, 1922, in Oak Park, Illinois, a suburb of Chicago. Her first media appearance was a guest call to a radio show in 1930. She began modeling and acting after graduating high school, but she put her career on hold to serve in the American Women’s Voluntary Services during World War II.

After the war, she began appearing on television, where she would be a regular fixture for decades. Notably, in 1954, when The Betty White Show received criticism for the inclusion of black tap dance performer Arthur Duncan, White defended his appearance on the show and even expanded his role.

White was the last surviving main cast member of two notable shows, The Mary Tyler Moore Show and The Golden Girls. She was also the oldest main cast member of both shows, with all her younger castmates predeceasing her.

White would have celebrated her 100th birthday on January 17. A cinema event celebrating her birthday and documenting her career had been planned to mark the occasion; the filmmaker who created the documentary confirmed that it will still be shown in theaters on the 17th.

 

Notable People We Lost this Month

Former Senate Majority Leader Harry Reid

Sen. Harry Reid of Nevada was a force in American politics for decades, serving as Democratic Senate leader from 2005 to 2015, eight of those years as Senate Majority Leader. While he faced criticism for his tactics and rhetoric during his tenure, Reid was successful in pushing through the Senate much of President Obama’s agenda in 2009 and 2010, including his health care package and the Dodd-Frank financial regulatory legislation.

NFL Coach and Commentator John Madden

John Madden was known for his near decade-long tenure as head coach of the Oakland Raiders and leading the team to victory in Superbowl XI. He later became a NFL commentator, and he was commemorated with popular NFL Madden video game series.

Grichka Bogdanoff

Grichka, along with his twin brother Igor, were known for their appearances in French science television shows in the 1970s and 1980s. The brothers courted controversy when they published scientific papers in peer-reviewed journals which critics say were non-sensical and had no scientific value, known as the Bogdanoff Affair.

The Bogdanoff brothers are often featured in internet memes, usually relating to cryptocurrency, in which they are portrayed as omnipotent market manipulators who pump and dump financial assets, often to comedic effect.

 

Saturday, December 25, 2021

Soviet Union's End: Thirty Years Later

On December 25, 1991, Mikhail Gorbahev resigned as general secretary of the Communist Party. For Western countries, this occurred on Christmas day, though it was a much more typical day in the largely Orthodox Soviet Union, as Orthodox Christians observe Christmas in January. 

In Gorbachev's speech, he said, "I hereby discontinue my activities at the post of President of the USSR", and declared an end to the Cold War, which had subsumed geopolitics for over over four decades. His powers were then transferred to Russian president, Boris Yelstin. 

After his speech, the Soviet flag was lowered over the Kremlin, and the Russian flag was raised. The next day, upper chamber of the Soviet legislature formally voted to end the Soviet Union. 

Watch Gorbahev's speech translated to English here:



Tuesday, December 7, 2021

Pearl Harbor 80 Years Later

Today marks the 80th anniversary of the attack on Pearl Harbor on December 7, 1941, which led to United States' entry into World War II.

Several survivors of the attack, many of whom are 100 or over, visited the site today to observe the memorials for those lost on that day.






Sunday, December 5, 2021

Bob Dole, Former Republican Presidential Candidate and Elder Statesman, Dies at 98

Bob Dole, the former US senator from Kansas who was the Republican presidential candidate in the 1996 election, died Sunday at 98. Dole had been battling lung cancer, and was taking immunotherapy to treat the disease.

Dole was born on July 22, 1923 in Russell, Kansas. He enrolled in the University of Kansas, where he played several sports including basketball and track, but left in 1942 to fight in World War II, where he became an officer in the US Army. He was severely injured in combat in Italy, and while he never regained use of his right arm, he managed to recover the use most of the rest of his body.

Dole was elected to the Kansas House of Representatives in 1950, and two years later became the county attorney of Russell County, a position in which he served for 8 years. He ran for the US House of Representatives in 1960 for Kansas's 6th Congressional District, and after he was elected, he served in the chamber for 8 years. During that time, he supported several notable civil rights bills, including the Civil Rights Act of 1964 and the Voting Rights Act of 1965.

Dole ran for and won a seat in the US Senate in 1968, and he served in the chamber until 1996. Dole became Senate Majority Leader in 1985, became Senate Minority Leader two years later when the GOP lost the chamber in the 1986 elections, and regained the Majority Leader post when Republican recaptured Congress in 1994. He also served as chairman of the Republican National Committee (RNC) from 1971 to 1973. 

Dole was selected as Gerald Ford's running mate in the 1976 presidential election, replacing Nelson Rockefeller, who was seen as too moderate for many in the party. His addition to Ford's ticket was an attempt to keep conservative delegates from supporting Ronald Reagan's presidential candidacy at the 1976 convention, the last contested presidential election to date. While the Ford-Dole ticket emerged victorious at the convention, it ultimately lost to the Carter-Mondale ticket that year.

During his time in Congress, he created relationships and friendships across the aisle that helped achieve the passage of several pieces of legislation, including the American with Disabilities Act and legislation dealing with social security and food assistance.

Dole ran for president in 1980 and 1988, losing in the primaries to Ronald Reagan and George H.W. Bush respectively. The third time proved the charm in 1996, when he won the Republican primary and faced off against incumbent Democratic President Bill Clinton. He resigned from the Senate to focus on his campaign, which ended unsuccessfully that November when Clinton managed to win another term. Republicans did manage to keep both chambers of Congress that year.

Dole became an elder statesman in the Republican Party in his post-elected career. He also appeared in several television advertisements, including for Pepsi and Viagra (he was open about his struggles with erectile disfunction and aimed to remove the stigma of the condition).

Dole notably was the only former Republican presidential nominee to support Donald Trump after he won the Republican primary in the 2016 election. Dole reiterated his support for Trump in the 2020 election and defended him from what he saw as unfair treatment of Trump from the Commission on Presidential Debates during the debates with eventual election winner Joe Biden. 

While Dole referred to himself as a "Trumper" following the 2020 election and expressed his disappointment in Trump's loss, he also said he was "Trumped out" and criticized Trump's claims of election fraud, saying that there was no evidence for it.

Dole had spoken well of Biden following his election victory, calling him "a great, kind, upstanding, decent person," though he was critical of what he perceived as Biden leaning too far left and the cancellation of the Keystone XL pipeline.

Other than his political statements, Dole managed to keep an active life until the end, even in face of his cancer diagnosis, visiting the Dole Institute frequently at the University of Kansas and even visiting all of Kansas's 105 counties.

Speaker Nancy Pelosi called for the flags at the Capitol to be set to half-mast in honor of Dole. Other politicians from across the aisle have also issued statements of remembrance following the announcement of his death, highlighting his commitment to work across the aisle and his bravery in his military service.

Tuesday, November 30, 2021

Biden’s Domestic Agenda Makes Progress While His Approval Lags

Several pieces of President Joe Biden’s domestic agenda moved forward in Congress this month. As part of an agreement with House progressives, more moderate members of the House Democratic caucus promised to vote for Biden’s larger social spending package if progressives backed the infrastructure bill. Both sides adhered to the agreement, and the House passed the House after it was passed by the Senate earlier this year. Biden has since signed the bill into law. The House also passed the social spending package, now titled the ‘Build Back Better Act,’ where it now faces an uncertain future in the Senate.

While Democratic leadership has been aiming to pass the package by Christmas, Sen. Joe Manchin (D-WV), who has frequently criticized the bill’s cost and scope, refused Monday to commit to voting on the bill by the end of the year.

Democrats hope that the passage of both bills will increase Biden’s approval ratings, which have declined over the past several months. Biden experienced no boost after the passage of the infrastructure bill earlier this month, and while some recent polls have shown some slight improvement to his net approval rating, he remains underwater in the RealClearPolitics and 538 polling aggregates.

This comes as Republicans have grown increasingly bullish on their chances to take over Congress after the 2022 midterm elections. Recent polling has shown the GOP with a lead over Democrats in the generic congressional ballot polls, an indicator of how a party will perform overall in the general election nationwide.

 

Omicron Variant of Coronavirus Identified

A new variant of the coronavirus, termed the ‘Omicron’ variant, has been identified in southern Africa and has already sparked new travel bans and restrictions across the world. The variant has already been identified in cases in Europe, and may be responsible for an uptick in cases in southern Africa.

The variant is a highly mutated form of the coronavirus which causes COVID-19, and is reported to be more contagious. Researchers are still assessing its mortality rate.

Whether the existing coronavirus vaccine offerings are effective against this new variant remain unknown, though health officials still encourage vaccinations and booster shots for those eligible.

The variant emerges as unrest grows in several countries over restrictions officials say are needed to end the pandemic. In the Netherlands, crowds fought with police after new restrictions were announced. In Italy and Austria, large protests took place over restrictions on unvaccinated individuals.

 

Ghislaine Maxwell Federal Trial Begins in New York

The trial of Ghislaine Maxwell, the British socialite accused of sex trafficking teenage girls along Jeffrey Epstein, begun in New York Monday. Her defense team aims to cast her as a pawn in Epstein’s sordid affairs, while prosecutors aim to demonstrate that Maxwell was a ringleader in the operation.

Epstein, who died in federal custody in 2019 while awaiting trial, was known for his relationships with powerful individuals, including Bill Clinton, Prince Andrew, and Donald Trump (before he became president). All men have denied any wrongdoing.

Sunday, October 31, 2021

Virginia Governor’s Race Nears End as Poll Shows Close Race

The Virginia gubernatorial election this Tuesday is down to the wire as Democrats try to keep a seat that they have held for eight years. Republican candidate, businessman and political newcomer Glenn Youngkin, is statistically tied with former Democratic Governor Terry McAuliffe, who held the governorship from 2014 to 2018.

McAuliffe has tried to tie Youngkin to former President Donald Trump, who is unpopular in the state and lost to Biden by 10 points in 2020. While Youngkin has not campaigned with Trump and does not emphasize him on the campaign trial, he has spoken positively of Trump and the former president has endorsed him.

Youngkin has made education a large focus of his campaign, favoring increased parental involvement and criticizing Critical Race Theory. McAuliffe has criticized Youngkin and other Republicans’ focus on Critical Race Theory, arguing it is not taught in schools and should not be a factor in the race.

If Republicans pick up the governorship Tuesday, it could be a worrisome sign for Democrats going into the 2022 midterms. A Democratic win could lead to increased confidence for the party in the face of President Biden's lower approval ratings.

 

Inflation Continues as Government Aims to Control Supply Chain Issues

Inflation, largely caused by global supply chain issues, has continued to cause pain for consumers both in the US and across the globe. In the US, prices rose at annual rate of 5.4% in September, the fifth straight month of inflation over 5%. In Germany, inflation hit a three-decade high, largely fueled by rising energy prices.

This inflation, which was widely characterized as transitory and temporary earlier this year, now appears more permanent as supply chain issues remain difficult to resolve. Labor shortages, combined with pent-up demand from the pandemic, are some of the largest contributors to this.

The most visible manifestation of the supply chain issues are the dozens of container ships sitting off the coast of California to drop off their loads at ports. While the Ports of Los Angeles and Long Beach have promised to transition to 24-hour workdays, it would take months for the backlog of goods to be processed.

Adding to this is the shortage of truck drivers within the US to move the goods from the coasts throughout the country. According to the American Trucking Association, around 80,000 truckers are missing from America’s highways, and they claim the problem will grow worse of the coming decade. Several factors have been attributed to this shortage, including dissatisfaction over pay and working hours, legal and regulatory restrictions, and resistance of mandatory vaccinations and testing.

Other factors contributing to the inflation are the large amount of monetary stimulus from central banks during the pandemic, leading to calls to raise interest rates to reduce the money supply and reduce inflation. Concerns over negatively affecting economic have made economic policymakers wary of taking this step.

 

Democrats in Congress Struggle to Pass Biden’s Agenda

Democrats have continued to struggle in passing President Joe Biden’s domestic agenda through Congress. Two bills, one focusing on physical infrastructure and one on social spending and climate change, are in limbo as more moderate Democrats and the party’s progressive wing battle to include (or remove) parts of the social spending bill, now titled the ‘Build Back Better Act.’

Moderates have criticized the large size of the social spending bill and have succeeded in removing multiple provisions from it, such as free community college, paid family leave, longer extensions of the child tax credit, and green electricity plans. Progressives have criticized these cuts and prevented passage of the infrastructure bill to ensure leverage over the social spending bill.

 

Thursday, September 30, 2021

Democrats Struggle to Pass Biden’s Agenda

Democratic leaders in Congress must thread the needle between the ideologic ends of their party as they attempt to pass two massive spending bills, one geared towards upgrading and adding to the nation’s physical infrastructure and one aiming to increase the social safety net and expand other social programs. The cost of the first is estimated to be around $1.2 trillion; the second around $3.5 trillion. President Joe Biden has made both plans centerpieces for his agenda.

The $3.5 trillion plan can be passed under Senate reconciliation rules, in which a simple majority is needed to pass the plan. This would allow it to pass without any Republican votes. However, it faces an uncertain future in the House if moderate House Democrats oppose it. Their opposition, in turn, could lead progressives to oppose the infrastructure bill. Not passing either bill would hand President Biden a major political defeat in his first year in office.

Progressive Democrats have vowed to vote against the infrastructure plan, which enjoys some bipartisan support, if the social spending plan is not passed to their liking. Meanwhile some moderates in the Senate have balked at the large price tag of the $3.5 trillion plan, which Democrat leaders claim is fully paid for by tax increases primarily on wealthy households and from increased IRS audits. Sens. Joe Manchin (D-WV) and Kirsten Sinema (D-AZ) have both said that they will not support $3.5 trillion in new spending.

Adding to these challenges is the need to raise the federal debt ceiling to prevent default on the government’s financial obligations. The House and Senate did reach an agreement to avoid a government shutdown, which Biden signed into law on Thursday.

 

Biden’s Approval Drops Amid Several Challenges

President Biden’s approval rating has dropped in recent weeks as the administration attempts to recover from the chaotic evacuation as American troops left Afghanistan. Recent political developments have given little breathing room.

While Democrats struggle to pass two large spending bills, Biden has faced criticism over his handling of migrants crossing the US-Mexican border. The most visible incident in recent days was the encampment of primarily Haitian migrants under the international bridge in Del Rio, Texas. The camp has since been cleared out, with the migrants either returned to Haiti or allowed to enter the US.

The president’s vaccination mandates have also occupied much of the administration’s attention, with businesses expressing frustration with the lack of opportunity for input regarding the new rules. Biden announced earlier this month that all federal employees and contractors will have to receive COVID-19 vaccinations or face termination, as would all employees of companies employing more than 100 people.

 

La Palma Volcano Eruption Destroys Buildings, Forces Evacuations in Canary Islands

Residents of the island of La Palma in the Canary Islands have been dealing with the eruption of the Cumbre Vieja Volcano, its first eruption since 1971.

While no deaths have been reported as a result of the eruption, more than 5000 residents have been evacuated as 600 buildings have so far been destroyed since the eruption started on September 19. The lava flow reached the shore on September 28.

Spain’s government, which controls the Canary Islands, has provided aid and assistance to the island.

 

Saturday, September 11, 2021

Never Forget: 20 Years Later

Today marks the 20th anniversary of the September 11 attacks. The tragic deaths of nearly 3,000 on that day, along with the thousands more who have died from diseases causes by inhaling the dust from the collapsed towers, have remained an indelible part of America's collective memory two decades later.

While we can never forget the sadness of that day, the response reminded all of the resilience and resolve of the American people. We will never forget the heroism and bravery shown on that day along with the service and sacrifice shown by American and allied troops in the years following.

Never Forget: 9/11/2001 - 9/11/2021



Tuesday, August 31, 2021

US Leaves Afghanistan after Evacuation Marred by Tragedy

The last American plane departed from Kabul’s Hamid Karzai International Airport Monday, one day before President Joe Biden’s self-imposed deadline to end American military presence in the country. The departure caps the chaotic end to America’s longest war that saw its foe recapture power after over 20 years of conflict.

The flashpoint of the evacuation was the suicide bombing that killed 13 US servicemembers as well as dozens of Afghan civilians. US officials have blamed the attack on members of the ISIS-Khorasan Province group, more commonly referred to as ISIS-K.

The evacuation was necessitated by the lightning fast takeover by the Taliban following the withdrawal of US forces from the country. Most of Afghanistan’s large cities fell within weeks of each other, with Kabul, Afghanistan’s capital, the last holdout among large population centers. When the Taliban captured Kabul on August 15, thousands of foreign citizens remaining in the city, prompting the US to take control over Hamid Karzai airport to facilitate evacuations.

While thousands of civilians were evacuated, the ability to do so without further conflict relied on cooperation from the Taliban, which the US and other allied forced had been fighting for nearly 20 years. The US has not committed to recognizing the Taliban-led government.

President Biden has seen a sharp decrease in his approval ratings following the chaotic withdrawal from the country, with his disapproval rating now topping his approval rating, according to 538. Biden has tried to shift the focus to the end of the war itself, rather than the handling of the evacuation, as polls have shown a  majority of Americans approve of withdrawing from Afghanistan.

 

Hurricane Ida Strikes Louisiana on Katrina Anniversary

 Hurricane Ida made landfall in Louisiana Sunday, brining damaging flooding and winds to the region. It made landfall exactly 16 years after Hurricane Katrina struck the same region on August 29, 2005.

The storm knocked out power for many in its path, with  1 million customer still without power as of Monday night. No major flooding was reported within the New Orleans flood control system, a testament to the post-Katrina updates that aimed to prevent the catastrophic destruction the city experienced.

At least two people have been killed by the storm, one by a falling tree and one by drowning in his car in flood waters.

Ida’s 150 mile per hour winds at landfall made it one of the most powerful hurricanes to hit the US directly, though its lower storm surge than Katrina has prevented the widespread catastrophic flooding that made Katrina the most expensive natural disaster in US history.

 

Saturday, July 31, 2021

Infrastructure Bill Likely to Pass Senate

 A bipartisan infrastructure package is poised to be passed by the Senate next week. The $550 billion plan, far below what President Joe Biden initially pushed for, is still a work-in-progress, with the final text not yet complete. It aims to provide billions in funding for physical infrastructure, as well as gather revenue from higher customs fees and stricter cryptocurrency transaction reporting requirements.

Some progressives are unsatisfied with the plan, favoring higher spending on a broader array of projects. Another massive $3.5 trillion spending package, covering issues ranging from climate change, immigration, taxes, and social spending, remains a priority for most Democrats, though some moderates, like Sen. Kyrsten Sinema (D-AZ), have criticized that plan's high price tag.

 

US, China Jockey for Top Place at Tokyo Olympics

The US and China lead the way in performance at the Tokyo Olympics, with the US currently leading in the medal count with 19 gold, 20 silver, and 13 bronze. China currently leads the pack in gold medals, winning 22 so far. It adds 13 silver and 12 bronze for a total medal count of 47.

The United States has gathered many of its medals from swimming events, which has been US-dominated in recent Olympic games. China meanwhile has flexed their strength in shooting events.

These Olympics, delayed one year because of the coronavirus pandemic, are the first time Japan has hosted the Olympics since 1964. These games are notable for the lack of attendees during events and the wearing of masks before and after events by the athletes.

 

Coronavirus Fears Grow as Government Pushes for Vaccinations

Renewed fears of coronavirus spread in the United States, primarily caused by the more contagious Delta variant, have led to renewed restrictions and mandates across the country, most notably mask and vaccine mandates. President Joe Biden has issued an order for all federal workers and on-site contractors to be vaccinated or be mandated to wear masks and submit to frequent testing.

Private companies, such as Delta Airlines and Disney, have also mandated vaccines for their employees. The available vaccines in the US, (the mRNA vaccines from Pfizer and Moderna and the more traditional viral vector Johnson and Johnson vaccine) are still under emergency use authorization, leading to hesitancy from many to take the vaccine as well as from many employers to mandate the vaccine. The Food and Drug Administration (FDA) has said they are working to fast-track approval of the Pfizer vaccine.

The Delta variant has been responsible for most of the recent infections in the past several weeks, with some scientists claiming the variant is as contagious as the chickenpox. The contagiousness of the variant has led to calls for both vaccinated and unvaccinated individuals to wear masks in an attempt to contain the virus’s spread. 

 

Wednesday, June 30, 2021

Section of Condominium Tower Collapses in Florida

A wing of the condominium building Champlain Towers South in Surfside, Florida, a community in Miami-Dade County, collapsed on June 24 in the early morning hours. As of June 30, the collapse has caused 18 confirmed deaths, with 145 people remaining unaccounted for.

 Investigations have already begun into the cause of the partial building collapse. Building residents had long complained of building defects and had planned to spend millions in repairs for the building. Inadequate waterproofing of the swimming pool may have allowed water. including saltwater (which causes more advanced deterioration), to seep into the concrete. The building was also believed to have been sinking for years prior to the partial collapse.

Emergency crews immediately began working to clear the rubble as they searched for survivors. So far, only one person has been rescued from the collapsed portion of the building. Another 18 were rescued from other sections of the building.

In response, Miami-Dade Mayor Daniella Levine Cava has ordered an audit of all building older than 40 years and with more than five stories. Others, including the editorial board of the Miami Herald and Miami-Dade County State Attorney Katherine Fernandez Rundle, have called for a grand jury investigation into the cause of the collapse.



Microsoft Announces Windows 11

Microsoft announced Windows 11, the latest version of their long-running operating system line, on June 24. The announcement comes nearly six years since the release of the current Windows version, Windows 10.

Microsoft is planning to implement a simpler design interface compared with that of previous Windows versions, as well as chat integration in the taskbar. This version of Windows will also be the first to allow Android apps to run on the system without having to download third-party software.

 

Bill Cosby Freed from Prison After Conviction Overturned

Actor and comedian Bill Cosby, convicted in 2018 of sexual assault, was set free from prison Wednesday after serving nearly three years of a three to ten year sentence. The Pennsylvania Supreme Court overturned his conviction, citing violations of Cosby’s due process rights under the 5th and 14th Amendments.

In 2005, Montgomery County District Attorney Bruce Castor, also known for his defense of President Donald Trump in his second impeachment trial, promised Cosby that he would not be criminally prosecuted if he provided testimony under the penalty of perjury in a civil case that alleged sexual assault by him. In his testimony, Cosby admitted to providing Quaaludes to women, and this admission was a basis for his criminal conviction in 2018. The Supreme Court ruled that the prosecution broke Castor’s previous agreement when prosecutors later sought criminal charges against Cosby. The court also barred any further criminal charges from being brought against Cosby in this case.

After his release, Cosby returned to his home in Elkins Park, Pennsylvania

Monday, May 31, 2021

China to Allow Couples to Have Three Children

The Chinese government will now allow married couples to have up to three children as the country aims to stem off demographic imbalance and population decline.

In the announcement, the government also vowed to provide educational and child rearing assistance, both commonly seen as barriers for couples who desire more children. 

Since 2015, China has allowed all couples to have up to two children as the population has continued to age. In addition, there are concerns over the gender imbalance, as the traditional bias for male offspring has led to more males being born than females.

 

Belarus Diverts Flight to Arrest Dissident on Board

 A Ryanair flight from Athens, Greece to Vilnius, Lithuania was diverted on May 23 after a Belarussian fighter jet intercepted the plane. Using the pretense of a bomb threat, the plane landed in Minsk, the capital of Belarus, and journalist Roman Protasevich and his girlfriend were arrested. Protasevich is a known critic of Alexander Lukashenko, the authoritarian leader of Belarus who has led the country since independence from the Soviet Union.

The other passengers of the flight were eventually allowed to depart on the plane, which reached Vilnius  over eight hours behind schedule.

The European Union has banned flights from flying through Belarussian airspace in response to the incident, which has been widely called a violation of international law.

Belarus, sometimes called the last dictatorship in Europe, is known for its restrictive laws and its strongman rule by Lukashenko. Lukashenko faced massive protests calling for his resignation after the presidential election in 2020, which was clouded by allegations of widespread fraud.

 

Rising Prices Raise Inflation Concerns

The Federal Reserve reported that the personal consumption expenditure index (PCE), which measures the prices of consumer goods minus food and energy, rose at a 3.1% annualized rate in April, an increase from 1.9% in March. This was higher than the expected 2.9% increase.

If one were to include food and energy prices, inflation rose to 3.6% in April, up from 2.4% in Match.

The Federal Reserve has tried to allay fears of rising inflation, blaming it on supply-chain bottlenecks and the large fiscal stimulus, which they believe are temporary factors. In addition, the inflation is starting from a relatively low base line, as price increases were low during the coronavirus lockdown and related economic downturn.

The Biden administration, which has proposed trillions in additional spending, has signaled they believe that they can continue the large amounts of fiscal stimulus without drastically raising inflation. Republicans have countered that the additional money pumped into the economy could lead to even higher prices.

The US is not alone in facing inflation risk. Germany reported a 2.4% inflation rate for May. Spain also experienced the same inflation rate for May.

Markets overall have responded negatively to the news of increased inflation. While US markets have stabilized in the past few days, increased volatility in equity markets worldwide have continued. Cryptocurrency markets have also seen sharp declines from their previous highs, though other factors besides inflation worries are likely at play.

 

Monday, April 12, 2021

Celebrating 60 Years of Human Spaceflight

 

April 12, 1961 - April 12, 2021
60 Years of Humans in Space


Yuri Gagarin, first person in space, (1934-1968)

Biden’s Proposed Corporate Tax Rate Increase Meets Resistance

President Biden has already been lucky with the Senate parliamentarian’s ruling stating that the president’s tax and infrastructure plans can pass the Senate with a simple majority, rather than the 60 usually required to end debate, but he may need more luck to keep his own party united. Sen. Joe Manchin (D-WV) has already signaled his hesitance to increase the corporate tax rate from 21% to 28%, instead favoring an increase to 25%. The high price tag of his plan, currently over $2 trillion, could also dissuade Manchin and fellow moderate Kyrsten Sinema (D-AZ) from backing his plan.

 

Vaccine Rollout Continues as COVID Spread Slows in US

One third of all American adults have now received at least one dose of a coronavirus vaccine, and nearly 20% have already received two doses of the vaccine. and new infections have dropped dramatically from their high in January of this year. The vaccines have proven successful not only in reducing severe infection, but also in reducing transmissions. The success of the vaccines has led to an increased push to reopen more of the economy and remove limitations on gatherings and event attendance.

Others have criticized such reopening efforts, arguing that the success of the vaccination efforts could be undermined by removing restrictions too soon. While cases have dropped drastically from the high case numbers early this year, the number of new cases has plateaued and even increased in certain parts of the country. Michigan is one state that has been hit especially hard, and one of its cities, Jackson, has had a higher raw daily new case number than New York City. For comparison, Jackson has around 33,000 people, while New York has over 8 million people.

 

Prince Philip, Royal Consort to Queen Elizabeth, Dies at 99

Prince Philip, who was married to Queen Elizabeth since 1947 and was royal consort since his wife ascended to the throne in 1952, died Friday morning at the age of 99, two months shy of his 100th birthday. He was the longest-serving royal consort in British history as well as the longest-lived male member of the British royal family. 

Philip was born on June 10, 1921 on the island of Corfu in Greece, and was part of the Greek royal family, itself descended from the Daish, German, and British royal families. His family fled Greece when he was young, and Philip spent his childhood in Germany, France, and Britain. 

In WWII, he joined the British navy and served in the Pacific and Mediterranean. After the war, he was granted permission to marry Elizabeth, the heir apparent to King George VI. After renouncing his foreign noble titles, he married her in 1947 and gained the title Duke of Edinburgh. After Elizabeth ascended to the throne in 1952, Philip become royal consort and gained the title Prince Philip.

Philip was known for his myriad royal engagements, appearing at 22,217 events during his time as royal consort. He also made patronage of sports, particularly carriage driving, a focus of his . He also established The Duke of Edinburgh's Award, which encouraged self-improvement for young people. 



Wednesday, March 31, 2021

Large Container Ship Ever Given Freed from Suez Canal

The Ever Given, one of the largest ships in the world, was freed Monday after six days stuck in the Suez Canal in Egypt. The Ever Given was on its way to the Netherlands from Malaysia, shipping thousands of tons of goods. A combination of windy conditions and human error are believed to have been the main causes of the ship lodging diagonally across the canal, preventing any ships from using the canal. Without the canal, ships would have to travel around Africa to go from Asia to Europe and vice versa.

Fourteen tug boats were needed to dislodge the ship during high tide.

Some had feared that the blockage could lead to substantial economic disruption, as $9.6 billion worth of trade passing through the canal each day.

 

After Coronavirus Stimulus Bill, Democrats Eye Larger Plans

The American Rescue Plan, President Joe Biden’s $1.9 trillion coronavirus stimulus bill, passed Congress on a party line vote this month, delivering $1,400 checks to most Americans, extending unemployment benefits, and allocating billions for various spending plans. While the plan only passed narrowly, many Democrats in Congress hope their small majorities in Congress will be enough to pass more ambitious plans, including a $3 trillion infrastructure plan, direct tax hikes on upper-income Americans, and gun control bills.

Democrats hope to pay for many of their plans through direct tax increases on those making $400,000 or more per year, as well as through increased enforcement of tax laws though increased audits.

On gun control, a longtime Democratic priority, Sen. Chris Murphy (D-CT) claims that the Senate can pass a bipartisan bill to expand background checks, something echoed by Sen. Pat Toomey (R-PA). However, such a bill may be seen as too weak by more liberal Democrats, and will almost certainly draw strong opposition from most Republicans, casting doubt on Murphy’s and Toomey’s claims.

Some Democrats are calling for the elimination of the filibuster, the parliamentary rule which prohibits the Senate from advancing most legislation without 60 votes. President Biden has not called for the complete elimination of the filibuster, but has signaled openness to “reform,” remaining unclear on what changes to it he would support. Sen. Joe Manchin (D-WV), considered the swing vote in the Senate, has said he would not support elimination the filibuster, but, like Biden, has signaled that he could be open to certain changes that would allow legislation to pass more easily.

 

Sunday, March 28, 2021

Children's Book Author Beverly Cleary Dies at 104

 

Cleary, who died this week at 104, pictured
here around age 39 with her cat, "Kitty"



Beloved children's book author Beverly Cleary died Thursday at the age of 104, just a few weeks shy of her 105th birthday. The centenarian's career, which spanned nearly five decades, produced numerous works with familiar characters such as Romona and Quimby Beezus, Henry Huggins, and Ralph S. Mouse. 

Cleary was born in McMinnville, Oregon, on April 12, 1916, prior to America's entry into World War I. Cleary graduated from the University of California, Berkeley in 1938 and from the University of Washington in 1939 with a second bachelor's degree in library science. She worked as a librarian for the next decade and married her husband Clarence in 1940. Clarence died in 1999. 

In 1950, Cleary's first book Henry Huggins was published. She continued publishing books until 1999, when she retired from active writing. In 1975, she won the Laura Ingalls Wilder award for her contribution to children's literature. Her characters Romona and Quimby Beezus were brought to the big screen in 2010 in Romona and Beezus, starring Selena Gomez and Joey King. Cleary was also honored with a residence hall named after her at UC Berkeley. 

After Cleary's death in Carmel-by-the-Sea, California, tributes began pouring in from fellow authors, such as Judy Blume, and from politicians, actors, and others who said they were influenced by her works

Sunday, February 28, 2021

Biden Launches Strikes at Iranian-Backed Militias in Syria

President Biden launched missile strikes against what the US describes as Iran-backed militias operating in Syria on Thursday. These strikes were in retaliation for an attack on US troops stationed in Erbil, Iraq earlier this month which resulted in the death of a civilian contractor. While the initial attack occurred in Iraq, the retaliatory strikes were aimed at militias in Syria to avoid a diplomatic spat with the Iraqi government, which has strong ties to Iran.

The Biden administration has said they hope to avoid a direct confrontation with Iran as they hope to renew talks to enter a nuclear deal. President Trump had exited the previous nuclear deal during his term, and Biden has promised to attempt to reenter the agreement during his term.

Trump had also directly confronted Iran through the killing of General Qassim Soleimani in January 2020 over the general’s repeated attacks on US troops over the years. Iran did launch retaliatory strikes in response which caused injuries to US servicemembers in the region; however, there was no escalation to a full-blown conflict that some had feared may have resulted from Soleimani’s killing.

 


Trump Makes First Public Appearance Since Leaving Office at CPAC

Former President Donald Trump appeared publicly for the first time since leaving office in January, giving a speech at CPAC in Orlando, Florida. During the speech he said he will not establish a new political party, rather focusing on influencing the Republican Party. He also broke with recent tradition, directly criticizing President Joe Biden’s presidency, saying, “Joe Biden has had the most disastrous first month of any president in modern history.”

Trump won the presidential straw poll with 55%, with Florida Gov. Ron DeSantis  coming in second, winning 21%. While DeSantis had a home field advantage, with CPAC being held in Florida rather than its usual location in National Harbor, Maryland, it could signal that DeSantis, a staunch Trump ally, could become a strong opponent to Trump should both run in 2024.

 

House Passes Stimulus Bill, Faces Uncertainty over Minimum Wage

The House of Representatives passed President Biden’s $1.9 trillion stimulus package on Saturday. The bill includes measures related to increased funding for COVID testing, school funding, stimulus checks, and assistance for  rent and food. In addition, it extends unemployment benefits and provides money to states to fund their liabilities.

The bill also contains language to raise the minimum wage to $15 an hour over the next several years. However, this clause will have to be removed if the Senate wishes to pass the bill under reconciliation, which would allow the bill to become law with only 51 votes, rather than the 60 votes needed to end debate and pass the bill. The Senate parliamentarian ruled this past week that the minimum wage increase could not be included in a reconciliation bill because it did not directly affect government revenues and expenses. Proponents of the minimum wage increase, such as Sen. Bernie Sanders (I-VT), argued that the minimum wage increase would increase government revenue through more taxes because of the increased wages paid and is thus eligible.

Republicans in the Senate have signaled opposition to the minimum wage increase, saying it will increase unemployment as employers would lay of workers for whom they could no longer afford their wages. Some moderate Democratic senators have also signaled opposition, such as Joe Manchin of West Virginia, who has said that the $15 minimum is too high for his state’s employers to pay for many of their workers.

President Biden has seemed to concede that the minimum wage clause will not be included in the reconciliation bill, promising to take it up as a stand alone bill in the future.

 

Sunday, January 31, 2021

Retail Investors Take Wall Street for a Ride

Several Wall Street firms faced the prospect of massive losses this week as a result of their short positions in several stocks, most notably in GameStop Corporation. Individual investors, encouraged most notably by users on the Reddit forum, or subreddit, WallStreetBets, purchased shares in GameStop and other stocks facing short positions to punish those shorting the stock as well as provide a boost to those companies.

Short selling occurs when an investor borrows a stock from another investor or brokerage, usually for a fee, and sells it immediately after. The investor expects the stock to decrease in price, and the investor hopes to repurchase the stock and return it to the original holder. The profit to the investor is the sale price minus the repurchase price minus the borrowing fee. However, if the stock increases in value, the investor will have to repurchase the stock at a greater price than which he sold it, and the losses can be theoretically unlimited.

Several brokerages, including Robinhood, blocked purchases on Thursday for WallStreetBets’ favored stocks, prompting criticism from investors as well as government officials.

 

Protests Erupt in Russia over Poisoning and Arrest of Opposition Leader

Russian authorities have detained more than 5,000 people after demonstrations erupted across the country after opposition leader, Alexei Nalvany, was poisoned last year and arrested this month. Mysterious poisonings and assassinations have plagued opponents to Russian President Vladimir Putin’s rule in the past.

Nalvany was poisoned with a nerve agent in August 2020, falling ill on a flight. Nalvany recovered but was arrested on January 17 after returning to Russia, accused of violating terms of a suspended jail sentence.

 


Biden Works to Advance His Agenda in His First Days

President Biden has begun pushing his agenda in his first days as president, issuing numerous executive orders and laying out his administration’s plan for a $1.9 trillion stimulus package.

Biden has already issued more than three dozen executive orders that cover issues including abortion, immigration and border security, economic regulations, COVID-19, criminal justice, and climate change. The pace of Biden’s executive orders is largely unprecedented this early in one’s presidency, with presidents previously spreading their first executive orders, especially over more controversial matters, over several months.

While Republicans have predictably criticized Biden’s orders, many of which reverse or rollback former President Trump’s own executive orders, some Democrats have also said that the administration should focus on legislative action to increase the scope of change as well as make such changes more permanent. Executive orders can easily be reversed by future administrations and cannot change or add to existing legislation.

Pushing through his agenda in Congress in the coming weeks could prove difficult for the president. He faces an evenly split Senate where Vice President Kamala Harris would cast a tie-breaking vote and a House of Representatives with a slim Democratic majority. In addition, the next few weeks are likely to be consumed with the second impeachment trial of now former President Donald Trump, who was impeached just before his term ended over his alleged role in encouraging rioters who broke into and occupied the Capitol building on January 6. Regular Senate business is likely to be postponed or curtailed during trial proceedings.

 

Wednesday, January 20, 2021

Joe Biden Sworn in as 46th President


Joseph Robinette Biden, Jr. has been sworn in as the 46th president of the United States. He takes office as the oldest president in American history after he defeated incumbent Republican Donald Trump, who conceded defeat this month.

His running mate, Kamala Harris, has become the first woman to become Vice President, as well as the first black and Asian-American to take that office. She is the second Vice President to have significant non-white ancestry, after Charles Curtis, Calvin Coolidge's vice president.

Biden emphasized unity in his inaugural speech, citing a need for a more constructive, less divisive political climate to address the challenges the country faces.