Episode 7: Living in America
Happy 4th of July Weekend!
We are at the halfway point in 2020. While that generally causes for celebration and introspection about activities and achievements over the last six months, this year, it’s the equivalent of stopping a woman in the middle of childbirth to ask her how things are going. Events in 2020 are unfolding so fast and furious there’s no time or interest to look backward. Like March Madness, it’s survive and advance.
The news cycle this week was dominated by the return of COVID (phase 1, continued). Cases have spiked in many states in the US, and bars and indoor venues that recently opened are now rapidly closing again. To mask, or not to mask, was the topic du jour. Wearing a mask went from a philosophical and political point to a legal issue as most states and communities passed ordinances requiring citizens to wear masks in public. Mississippi finally let go of their state flag in favor of a soon to be designed new flag that does not carry the negative symbolism and history of the current one. There was a Joe Biden sighting this week, and with the election four months away, the partisan rhetoric and vitriol are ramping up. Authorities disbanded the autonomous zone known as CHOP (Capitol Hill Organized Protest) in Seattle; Joseph DeAngelo confessed as the Golden State Killer, more than 40 years after the crimes; and Amazon acquired Zoox for a billion to enter the crowded “Robotaxi” market.
I. Below are the articles I found interesting the past week:
We all know THAT guy who only calls or shows up only when he needs something. It’s a turn-off, so stop being transactional with your relationships, and goodness will follow.
https://bit.ly/2ZCX80H
If I asked if men or women are better peacekeepers, I would venture that an overwhelming majority of people would say, women. Yet, we see our police force dominated by men. The one stat that says it all: 11% of female officers reported they had ever fired their weapon while on duty, compared with 30 percent of male officers. Let’s hire more female police!
https://bit.ly/3f9D3FO
We all hate to have difficult conversations. It’s uncomfortable. However, strong leadership requires the ability to have these conversations. Useful tips are inside.
https://on.wsj.com/3go5Dnd
What happens when a black, conservative talk show host and a black, liberal professor talk about racism, affirmative action, political correctness, and LGBTQ? Well, not what you might think. The debate in this hour-long video is respectful, intelligent, and thought-provoking, and both demonstrate the art of how to disagree without fighting.
https://bit.ly/3eT1aZr
State and local government finances are hurting with higher outflows and lower inflows due to COVID and the recession. The result should be a downgrade of muni bonds with investors running for the door. However, risky bond funds are seeing inflows for a sixth straight week. Market opportunity or disaster waiting?
https://on.wsj.com/2NWOu7O
Hong Kong operated for over 150 years as a colony under British rule until 1997 when it transferred to China. As part of the transition agreement back to China, the PRC agreed that Hong Kong would operate differently than mainland China until 2047. One country, two systems. However, China just passed a national security law on July 1st, that subjects Hong Kong residents (many of whom are western) to draconian punishment if convicted of crimes deemed to be against the interests of the state.
https://cnn.it/3f4r24Q
If you want to know how remote learning is going, ask any parent with kids under 16. If you don’t like the country’s leadership today, imagine a generation of kids and future leaders who were home schooled by day drinkers?! Most parents don’t have the ability to home school their kids because they work. Plus, the technology gap between socioeconomic classes makes remote learning ineffective for many.
https://nyti.ms/2BALWdc
Companies hit by COVID want insurance payout for “business interruption,” but Insurers are balking since the standard requirement of physical damage is missing. This legal battle is just getting started and will continue for years.
https://on.wsj.com/3eTfyRo
A Tennessee police department is warning residents to stop flushing illicit drugs down the toilet out of fear they could create “meth gators.” Enjoy this hillbilly nugget, and you can thank me later.
https://bit.ly/31IJFHm
II. Stats that made me go WOW!
- The cancellation of public fireworks means home fireworks sales are booming. Last year, the Consumer Product Safety Commission estimated there were roughly 10,000 injuries attributed to fireworks, so be careful this weekend! However, fireworks injuries still lag the 20,000 injuries caused by grilling each year or the 15,000 caused by air conditioners. Pro tip: don’t light firecrackers while grilling burgers underneath your AC unit.
- Mortgage buyer Freddie Mac reported that the average rate on the 30-year fixed-rate mortgage fell to 3.07%. It is the lowest level since Freddie Mac began tracking in 1971. A year ago, the rate stood at 3.75%.
- Tesla overtook Toyota as the most valuable car company in the world with a $210 billion market cap. Some perspective: Tesla produced about 103,000 vehicles in Q1—Toyota made 2.4 million cars over the same three months. Tesla is now more valuable than Honda, Ferrari, BMW, GM, and Nissan...combined.
III. Name that Tune!
As I write this email, I am getting in the Independence Day spirit by listening to James Brown, "Living in America”.
The song was prominently featured in the film Rocky IV as Apollo Creed enters the ring against Ivan Drago. (Spoiler alert: Drago kills Creed, and Rocky beats Drago, ending the Cold War, breaking up the eastern block and ensuring world peace.) Many names know James Brown--The Godfather of Soul, The King, Mr. Dynamite and The Hardest Working Man in Show Business, to name a few. Brown started his career as a gospel singer in Georgia and transitioned into Blues before finally developing a signature Funk sound. Rolling Stone ranked Brown 7th on the 100 greatest artists of all-time list. Despite Brown’s undeniable musical and artistic gifts, he struggled as a human being. He was convicted of numerous counts of domestic violence, was twice accused of rape but not convicted, had several assault charges, and battled drug addiction. Brown was married four times, had nine children that he acknowledged, and DNA testing confirmed another three. Brown continued to record music and perform until his death in 2006 at the age of 73. Living in America…..indeed!