Episode 20: Thunderstruck
Watching the two knuckle draggers debate this week was worse than nails on a chalkboard. I've seen more decorum in a gangsta rap video. It was like a barroom brawl without the bottles. However, the worst offense is these intellectual lightweights are battling for the "highest job in the land," and it was clear neither have a cogent plan for dealing with the nation's top priorities. I watched the entire debate with pad and pencil and ready to take notes, and I am still waiting to hear something of substance. Bernie Sanders is misguided and financially naive, but at least the man has a plan and a political foundation rooted in policy. President Trump interrupted Biden the entire night, and his petulance was on par with a toddler. Biden, as usual, seemed lost and incoherent and most surprisingly hurled insults at Trump, calling him a "fool," a "clown," and telling him to "shut up!" Both men were the antithesis of statesmen. Meanwhile, moderator Chris Wallace looked on helplessly. I think someone gave Wallace ketamine before the event because as hard as it is to believe, he was more ineffectual than the candidates. Media outlets around the world reacted with equal disgust and criticism, and The Times of India offered an appropriate summary: "The US embarrassed itself before the world for 100 minutes." Yes, the night was entertaining on some level, but that feeling was fleeting, given how much is at stake. The stronger sense is dismay based on the reality that one of these septuagenarians will be our President for the next four years.
As for the coronavirus, the death tolls have topped 1 million people worldwide. Countries with the highest death toll are the US (205k), Brazil (142k), India (96k), Mexico (77k), and UK (42k). In terms of deaths per 100,000 people, the top five are Peru (100), Brazil (67), Chile (67), Spain (67), and the US (62). Trump claims that we are "rounding the corner" with coronavirus, but "Grouchy Fauci" (my new nickname for him) popped the proverbial COVID bubble by countering that "we are not in a good place with rising COVID cases in 33 states and Puerto Rico." Fauci appears to know more than Trump regarding science as Trump announced today he and FLOTUS tested positive for COVID. For those keeping score, scientists 65 Trump 0. Trump's positive test is a grave matter given Trump is 74 years old with a BMI of 30+, which puts him in the high-risk category for the disease. The other concern is the large number of other people who may be infected, given Trump's prolific campaign activities the past week. Coronavirus has a multiple-day gestation period, so it will take a few days to know the fall-out and implications fully. However, it brings coronavirus back to the forefront of the election, with only 32 days remaining. It raises questions on several fronts: How will this impact President's Trump health and campaign? How will this news influence undecided voters? How will this impact the Amy Coney Barrett confirmation hearings? Meanwhile, the Governor of Florida gave the green light to open the state full throttle, including bars and restaurants, and New York City resumed indoor dining.
Senate confirmation meetings for Amy Coney Barrett begin on Oct 12th. The hearings will be brutal for Barrett, given the political season and circumstances around her nomination. Plus, Democrats remember the harsh treatment that Obama's failed nomination, Merrick Garland, received back in 2016 and will be inclined to reciprocate. The Senate must thoroughly evaluate each SCOTUS nomination because these are life-long appointments; however, its unfortunate hearings and the confirmation process are politicized. These candidates are typically the best of us, and not deserving of disrespectful treatment. One substantive issue that Senators will question during the hearings is Barrett's adherence to "Textualism/Originalism." Her mentor, Antonin Scalia, embraced both. Textualism means you interpret the Constitution's words as written and represented by the framers in 1789. Originalism is related but says that when text is ambiguous or does not cover a contemporary issue that the framers couldn't have conceived, rely on the Constitution's underlying values as understood in 1789. Both view the Constitution as stable from the time ratified and that the meaning of its contents can be changed only by the steps set out in Article Five. Proponents of Textualism/Originalism argue that this judicial philosophy (appropriately) confines judges to the text's meaning, limiting judges' ability to govern the American people. They believe that any evolution of the Constitution should be spearheaded by Congress and enforced by the Court. This philosophy contrasts with the beliefs of liberal-minded Justices Kagan, Satamayora, Breyer (and the departed RBG), who believe in a living constitution. They do not feel bound by the literal words written in 1789 and free to interpret them as they understand them today when applied against issues before then Court. Conservatives are excited about the possibility of a Barrett confirmation because it will stack the Court in favor of Textualism/Originalism, which will have significant ramifications for everything from religion to healthcare.
With Barrett's confirmation, it's interesting to note that six out of the Supreme Court's nine members would be Roman Catholic, whereas only 20% of the US population claims that religion. Chief Justine John Roberts, Samuel Alito Jr., Clarence Thomas, Brett Kavanaugh, and Barrett were appointed by Republicans and the last three by President Trump. Sotomayor is the only Catholic appointed by a Democratic President. Historically, Protestant Christianity is the primary faith of justices on the Court, but Neil Gorsuch is now the lone justice claiming Protestant as his religion. Justices Stephen Breyer and Elena Kagan are both Jewish. There have been 33 Episcopalians, 18 Presbyterians, nine Unitarians, five Methodists, three Baptists, and lone representatives of various other denominations by the numbers Following the retirement of John Paul Stevens in 2010, the Court had an entirely non-Protestant composition for the first time. However, by the end of this year, SCOTUS will go from having a "Catholic Seat" to being a "Catholic Court." No professing atheist has ever been appointed to the Court, although some justices have declined to engage in religious activity or affiliate with a denomination. Some other interesting tidbits about SCOTUS. Unlike the Presidency, there is no minimum age for Supreme Court justices. The youngest justice ever appointed was Joseph Story, 32 at his appointment in 1812; the oldest was Charles Hughes, 67, at his appointment in 1930. Oliver Wendell Holmes is the oldest to have served on the Court, stepping down two weeks before his 91st birthday. Only two law schools are represented with the current eight justices, Harvard and Yale (four each). Barrett is poised to shake things up with her green and gold law degree from Notre Dame.
In other news, the New York Times broke a story about Trump's federal taxes. According to the report, Trump paid $750 in federal income tax in 2016 and 2017, which is the equivalent of what someone pays who makes $20k. Furthermore, Trump allegedly received an enormous tax refund of $72m in 2010. However, the shockwave is that Trump has $421m in personal debt that could come due in the next four years, creating a potentially dangerous scenario if he's re-elected and presiding President of the US.
On the lighter side, a giant rat named Magawa won an award for bravery after discovering 39 landmines and 28 explosive devices in Cambodia. The Gold Medal was created in 1943 by a British charity organization to honor heroic animals. Magawa earned the award based on his "quick and decisive" actions, and the group noted that he "enjoys looking for landmines knowing the reward is fresh bananas." I think if Magawa knew those landmines were explosives vs. a trigger for treats, he'd go bananas. The previous winners of the award were canines or pigeons, but none are alive for comment. Amazon debuted "Amazon One" and the ability to pay with your hand. To register for Amazon One, users should have a credit card and mobile number, but an Amazon account is not mandatory. A Seattle entrepreneur launched a mobile lodging concept in response to coronavirus. Cabana (https://cabana.life/) offers customers a mobile hotel room in the form of a drivable van that you can rent, retrofitted with basic living amenities—a bed, stand-up shower, and stovetop.
The Los Angeles lakers return to the NBA Finals for the first time in a decade and face-off against the Miami Heat. In the NHL, the Tampa Bay Lightning won the Stanley "COVID" Cup, outlasting the Dallas Stars. Major League Baseball playoffs are underway. Burger King announced a new marketing push emphasizing "real" ingredients in its food. The chain has eliminated 8,500 tons of artificial ingredients. Of course, healthy calories are still calories, and 8,500 is a good number to remember when you eat there. This menu change attempts to target Millennials as 57% of that generation currently subscribe to a particular diet—plant-based, Keto, vegan, or Whole 30. For those who follow a special diet, 44% do so because it's better for the environment, while 37% say their reason is ethical. Lastly, eight Texas cities have reported brain-eating amoeba known as Naegleria Flowleri. This amoeba dwells in southern states in freshwater. The deadly bacteria live in the sediment of lakes and ponds and can become active when stirred up. A person contracts Naegleria Flowleri when the infected water enters the body via nasal passages, and the mortality rate is 97% within the first five days. However, don't sell the waterski boat just yet; from 2005 - 2014, there were only 35 reported infections.
I. Below are the articles I found interesting the past week:
I am increasingly fascinated with the subconscious's power and how MINDSET impacts performance, happiness, and our ability to manage stress. Worries, doubts, and fears all collect in the subconscious and drive our behavior and actions. Human beings need sleep and rest to recover. We also need to recharge our emotional states to perform at peak performance and lead our best life. The heaviness of COVID is like a blanket on all of us. Anxiety is something that most people can relate to these days. Some have chronic and severe struggles with the condition. Anxiety and stress can result in self-medication to numb the pain, whether with food, alcohol, shopping, or other unproductive behavior. And, unfortunately, this never works and makes things worse.
In addition to coronavirus, this time of year can be incredibly stressful. Colder days, less daylight, and the holidays are all stress triggers. According to a recent study in the New England Journal of Medicine, +60% of physician visits are related to stress. However, of the cases related to stress, only 3% receive stress management help! In the spirit of keeping our mental states positive, I wanted to offer an exercise for stress management. Vered Kogan is one of my favorite mindset teachers. She provides an easy but useful tool called the "Quick Coherence Technique" to let go of the stress that's inhibiting your health and performance. The key is to access and leverage the power of your heart's intelligence and flow of awareness, and strengthen the connection between your heart and the brain. This technique takes one minute. But like all things, you must practice it every single day. So open your mind and your heart and give it a try!
1. Heart focused breathing - focus attention on the area of your heart and imagine the breath is flowing in and out at a slower, deeper pace, focusing on that part of your body. Establish a consistent rhythm.
2. Activate a positive (renewing) feeling. Make a sincere attempt to connect with something from your memory bank—something grateful for, a positive relationship, an achievement, a peaceful place in nature.
A charge of heart changes everything!
Government stimulus and support of business have a double-edged sword. Yes, some businesses face insolvency due to coronavirus but are otherwise healthy. These deserve federal support. Saving healthy companies and the associated jobs make sense. However, government support could also prolong the life of many underserving firms. The “walking dead” companies with low or no growth in the world of capitalism deserve to fail. You can’t have capitalism without the possibility of failure. However, that crucial concept of capitalism feels anathema in today’s world of “participation trophies.” A rose bush won’t blossom unless you pare the dead parts; the same goes for failing businesses in a capitalistic economy. Bad and failing companies need to die so that resources can be re-allocated to areas of growth. This topic is relevant to our banking system. Lenders with stretched balance sheets have an incentive to keep funding their existing customers, masking past lending mistakes with yet more loans. This predictable cycle avoids recognizing losses in the short term, and these financial institutions are funneling capital to firms that don’t deserve it in the long term. As we contemplate additional rounds of federal funding and support, we need to focus aid strategically and with discretion and let the markets play their role of determining winners and losers. After all, as they say, it’s not personal, just business.
This Times article is a fascinating look at Steve Mnuchin and his appointment as Treasury Secretary, a job most would claim he was unqualified. It details Mnuchin’s quirky personality and offers insight into how Trump operates with his cabinet members.
Steve Mnuchin tried to save the economy. Not even his family is happy.
II. The rest of the best
Is it insane to start a business during coronavirus?
Some Black Americans Buying Guns: 'I'd Rather Go To Trial Than Go To The Cemetery’
The secret economics of a VIP party
III. Stats that made me go WOW!
- Disney announced it was eliminating 28,000 jobs in the US, about 25% of its domestic resort workforce.
- MIT efforts to create a revolutionary zero-emissions power source are progressing with plans to start construction next year. The analysis thus far shows that the planned fusion energy output should produce twice as much energy as the amount pumped in to generate the reaction.
- Scientists have discovered a new enzyme that can eat plastic and could be ready for recycling efforts within one year. Plastic pollution has contaminated the planet, from the Arctic to the deepest oceans, and people are now consuming and breathe microplastic particles. Efforts to combining this enzyme with those that break down natural fibers might recycle mixed materials such as polyester and cotton.
- New York City returned to indoor dining this week (at 25% of standard seating capacity). Still, an audit by the state Comptroller reported that as many as half of all New York City bars and restaurants could shutter permanently in the next six months due to the coronavirus.
IV. Name that Tune!
As I write this email, I am listening to Thunderstruck by AC/DC.
It will surprise many that AC/DC is an Australian rock band formed in Sydney in 1973 by Scottish-born brothers Malcolm and Angus Young. The band’s original members were the Young brothers, singer Bon Scott, drummer Phil Rudd, and bassist Mark Evans. Cliff Williams replaced Evans in 1977. The group’s first album, High Voltage, released in 1975 and launched with the classic song “It’s a long way to the top (if you want to rock ’n’ roll).” The band hasn’t stopped rocking since their debut. Unfortunately, Bon Scott died of alcohol poisoning in 1980. Brian Johnson became the group’s new frontman, and that same year the band released Back in Black, which became one of the best selling albums of all time. However, For Those About to Rock, the next album became the group’s first album to reach #1 in the US. The band has sold more than 200 million records worldwide, including 71 million in the US, making them the tenth highest-selling artist in the US and 14th best worldwide. I’ve seen AC/DC twice in concert, and they didn’t disappoint. Angus Young's iconic one-legged hop is a guitarist brand that transcends all others, and Johnson’s raspy, powerful vocals epitomize Rock & Roll. Malcolm Young retired in 2014 due to dementia, and Johnson had to stop touring due to severe hearing loss. Axl Rose stepped in as the band’s vocalists for the remainder of that year’s tour dates. For all AC/DC fans, there is a rumored comeback this year based on a series of mysterious posters, ads, and even a website that launched this month with the iconic lightning logo asking fans to “PWR UP!” Allegedly, Johnson and Rudd have reunited with the group, finished a new album, and waiting for the right time to drop it. With a year that has sucked on so many levels, and music charts that feature Justin Bieber, we could all use one last AC/DC album! PWR UP!
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