Episode 10: Feeling Good
Ten, nine, eight, seven…..that’s the countdown as we approach July 31st and the end of a portion of the COVID-related government aid, which is part of the $2+ trillion CARES Act. In exactly seven days, the extra $600 per week in unemployment assistance for the 25+ million people who have accessed these benefits will expire unless extended by Congress. Democrats claim unemployment beneficiaries need the extra $600 per week through the end of the year, given the pandemic. However, Republicans argue that in many cases, recipients are receiving more money being unemployed than working. Other relief measures expiring on July 31st include mortgage and rent protection, which Democrats claim will lead to mass eviction and homelessness unless extended. There’s no question Congress will approve more funding. After all, the Democrats will be happy to spend more money, and Republicans aren’t embracing austerity in the election window. The line for more funding is long: unemployment assistance, support for local and state budgets, a payroll tax cut, additional direct payments to individuals, investment in medical research, and a build-out of testing capacity, more PPP funds for small businesses. Congress will likely offer financial support for all of these groups and may even throw in a set of steak knives! What won’t stop on July 31st is the escalating US debt, which at the end of 2019 stood at a staggering $22.8 trillion, and will increase another $4 trillion in 2020. Since March, Congress has passed a 2nd, 3rd, and 4th form of the CARES Act, and total spending on COVID-related measures and relief now exceed $3 trillion! Of course, I have complete confidence that our trustworthy politicians will address our spending and debt once COVID passes.
It was a hectic news cycle this week. In a shocking update, the debate over masks continues. Georgia’s Governor, Brian Kemp (Republican), sued Atlanta’s Mayor, Keisha Bottoms (Democrat), over the topic. Mommy and daddy are fighting again! Trump returned to daily Corona briefings, so I can only assume that after a three-month hiatus, the ultraviolet light project didn’t work out. After months of mocking masks, Trump now says it’s patriotic to wear masks in public, and “there is nobody more patriotic than me, your favorite President!” Trump also seems to have a newfound concern around the rise of COVID in Florida as he canceled the Jacksonville portion of the Republican Convention. We did get some positive news this week with progress on a vaccine for COVID. Four companies—AstraZeneca, J&J, Moderna, and Novavax—have received large government contracts as part of Operation Warp Speed. The US handed $1.6 billion to Novavax to help ramp up human trials for its vaccine – and put in an order for 100 million doses. Novavax stock is up almost 1,100% since March. Yesterday, gov officials reached a nearly $2 billion deal with pharmaceutical giant Pfizer. And said, ‘save us 100 million doses of your vaccine.’ It appears we may have multiple vaccine options teed up for later this year, so get ready for the healthcare version of the Coke v Pepsi challenge but with higher stakes than a sugar high.
In non-COVID news, the US indicted two Chinese hackers for trying to steal coronavirus vaccine research and other sensitive corporate data. Consequently, the US ordered China to close its consulate in Houston. China has promised to retaliate, which means this story is far from over and has concerning subplots. There were 200 federal agents sent to communities plagued by violent crimes such as Portland, Chicago, and Albuquerque. Still, some local authorities have complained that federal resources are not wanted, so apparently, these communities prefer the crime and destruction of property? We saw the passing of a civil rights icon. John Lewis passed away at the age of 80. Regardless of your politics, it's hard not to be in awe of Lewis and his life. He was one of the "Big Six" leaders from the Civil Rights movement of the 1960s, marched in Selma in 1965, and was known as the "Conscience of Congress" for his unflagging position on human rights.
On the lighter side, Major League baseball returned yesterday. Dr. Fauci appears to have work-life balance issues and can't turn off his job as COVID frontman, as his honorary first pitch seemed like he didn't want anyone to catch it. Baseball will have a 60 game season but with no fans, and a strict list of rules for players to follow: daily temperature checks, no sunflower seeds, and no spitting. Sadly, Taco Bell is eliminating 11 items from its menus next month to streamline and speed up drive-thru service. The 7-layer burrito, Nachos Supreme, and Chips & Dips are all going away. I think a better solution would be to keep the full menu but have a drive-through line dedicated for stoned people.
I. Below are the articles I found interesting the past week:
Slavery is a tough topic. There is tremendous pain from all angles—certainly, groups who have been subject to it, and the descendants of those who participated. The subject of reparations for victims of slavery is trending with the BLM movement and concerns about systemic racism. The city council in Asheville, NC, unanimously passed legislation this month to provide reparations to groups impacted by slavery and their descendants. If you were to ask someone what slavery is, I guess most would say, “a white, southern American engaged in chattel slavery of a black African.” However, according to economist and social theorist Thomas Sowell, a senior fellow at Stanford, “the notion that slavery means white enslaving blacks is not even one-tenth of the story of slavery, which existed on every inhabited continent. The very word “slave” derives from the word for white people who were enslaved on a mass scale—the Slavs—for more centuries than blacks were enslaved in the Wester Hemisphere.” Slavery is a blemish on history, and few groups are clean when it comes to this horrific practice: The Mayans and Aztecs kept slaves; The Greeks & Romans enslaved other Europeans and people from the Middle East; the Egyptians enslaved Jews; Muslims from North Africa enslaved Christians for over 200 years, and, yes, white Europeans and Americans participated in transatlantic slavery (as did prominent black Africans). Slavery is abominable, and it’s hard to fathom the moral justification at any point in history for such inhumane treatment of individuals. Sadly, experts have calculated that roughly 13 million people were captured and sold as slaves between the 15th and 19th centuries. The transatlantic slave trade impacted over 15 million Africans. It’s estimated that over 40 million people are living in some form of slavery today. This blog post explores the topic of reparations for slavery and why it would be challenging to do justly.
https://regiehammblog.wordpress.com/2020/07/15/reparations/
I typically roll my eyes in the back of my head and sigh when I hear anything about Blockchain and Cryptocurrency. It’s not that I don’t think these are exciting ideas, quite the contrary. I find the writing around these topics to be overly confusing, incomplete, and dry. This article in Rolling Stone interviews a child actor turned Bitcoin billionaire. The protagonist is described as a “Burning Man mash-up of young Indiana Jones, Theon Greyjoy and iterate street magician. Or, as John Oliver once put it, a sleepy, creepy cowboy from the future.” How can you not want to read more?
Brock Pierce: The Hippie King of Crytocurrency
One of the essential qualities of a leader is sound judgment. Of course, the problem is everyone thinks they have it. Most don’t. This article explains the difference between expertise and judgment and why the latter is more important for a leader.
I’m not a parent, so most would say I am not qualified to comment on this topic and stay away from it altogether. However, I tackled slavery in this newsletter, so I figured why not go after parents! I understand that parenting is hard and that “I will never understand what it’s like until I have my own.” Ok, I get it. But I can also look at parenting styles in other countries and observe the relative maturity level and life preparation of the offspring. I think Europeans have some advantages over Americans when it comes to parenting, and this article explores why.
Parenting as an expat: The Dutch taught me how to loosen up
II. The rest of the best
Coronavirus may give Trump and edge in the upcoming election
Can you become reinfected with COVID? It is very unlikely, experts say
Basel: The birthplace of hallucinogenic science
How to Do Design Thinking Better
8 Things You Learn After Divorce
III. Stats that made me go WOW!
- China has the most extensive monitoring system in the world, with almost 400 million CCTV cameras across the country. That figure will grow to over 570 million by the end of 2021. China has eight of the world’s ten most surveilled cities.
- Here is a list of the largest landowners in the US
- There are an estimated 22,000 - 31,000 polar bears in the wild, but they face extinction by the year 2100 due to climate change. The Arctic has recorded a decline of sea ice by more than 50% compared to the average from 1979 - 2019.
- Total Covid-19 deaths per million residents (source NYT): UK/678, Spain/603, Italy/581, Sweden/546, US/429, Brazil/373, Mexico/305, Canada/240, Germany/109
- According to a report published by Yelp, the pandemic wasn’t great for restaurants. Of the approximately 26,000 restaurants that have closed since March 1, more than 60% have done so for good.
IV. Name that Tune!
As I write this email, I am listening to “Feeling Good" by Nina Simone.
Nina was born Eunice Kathleen Waymon in Tryon, North Carolina, in 1933 but was known professionally as Nina Simone. Her music spanned a broad range of styles, including Classical, Jazz, Blues, R&B, Gospel, and Pop. Nina referred to her music as Black Classical. Her moniker was the “High Priestess of Soul” for her ability to leave listeners in a trance that would suspend time. Nina’s music interest started at the age of 3 when she learned to play the piano by ear. Her mother was a Methodist preacher, and she grew up in the church with gospel music but studied classical music. Nina graduated Valedictorian of her high school class, and the community raised money for a scholarship to support her dream of studying classical piano at Julliard in NYC. Unfortunately, Nina was denied admission to the school, and it’s speculated due to racism. Despite the setback, Nina’s love of music kept her dream alive, and she began playing at the Midtown Bar & Grill in Atlantic City, New Jersey. After years of playing small venues in obscurity, Nina finally got the record industry’s attention at the age of 24. She released her debut LP in 1959 titled The Amazing Nina Simone. Simone’s lyrics addressed sensitive topics of the time, such as racial inequality and civil rights. She was a disciple of Malcolm X and a proponent of Black Nationalism. Despite her enormous career success and legacy of activism, Nina struggled in her personal life. She was known to have a bad temper and volatile outbursts. She was abusive to her daughter to the point that she became suicidal. Nina even fired a gun at a record company executive whom she accused of stealing royalties and confessed that she “tried to kill him but missed.” Maya Angelou wrote about her in 1970 that Nina is “loved or feared, adored or disliked.” Simone was treated for mental illness, and from the 1960s onward, she took an anti-psychotic medication. Her music career spanned 40 original albums and four decades, and in 2018 she was inducted into the Rock & Roll Hall of Fame. Nina spent her later years in France and died in 2003 at the age of 70.