Fed Chair Jerome Powell said yesterday that interest rates were probably going to be higher than previously
expected. This, of course, caused mass stock selloffs and the 2-year treasury yield spiked to just above 5%.
JetBlue wants to take over Spirit Airlines, but the DOJ has different plans. The Reason the Biden Administration wants to stop the
acquisition is that Spirit is the largest economy airline in the US and if JetBlue acquires them, it would drastically eliminate low-cost competition in an industry that has little competition, to begin with. If the deal does go through JetBlue will fork over $3.8 billion to obtain Spirit. The airline industry has experienced 21 mergers since 2001 and this has raised the barriers to entry for any new competitors. No new competitors in an industry usually mean high costs to consumers (Most of the
time).
For the first time since 2016, a new nuclear reactor has begun splitting atoms in the US. The Vogtle Unit 3 reactor is up and running in Georgia. The Vogtle Unit 3 is the 93rd reactor running in the US and they are responsible for producing 20% of the nation’s
electricity. Eat your heart out Wind and Solar…
Sugar alternative Erythritol, a common substance found in sugar-free products, has been linked to heart issues and strokes. The study on this subject was published in Nature Medicine and
much more research is being conducted to see how harmful Erythritol actually is. The safest bet for most people is to just limit their sugar intake…I know what a concept!!
JPMorgan CEO Jamie Dimon says that Florida and Texas are the new financial hubs
of the Nation. In an interview with Bloomberg TV Mr. Dimon said “(Florida and Texas) like business, they want you to come. It shouldn’t have been that way but Texas loves you being there.” JPMorgan now has more employees in Texas than in New York. A Left-Wing powerhouse like NYC losing key players in the finance industry to Right-wing safe havens has massive implications for the Culture War.
President Biden is expected to release a budget on Thursday that will propose a tax hike on Americans making $400,000/year or more in an effort to keep Medicare cash healthy.
Walgreens has decided to stop carrying the abortion pill in 20 GOP-led states. California Governor Gavin Newsome says that Cali will no longer do business with
Walgreens because they are putting women’s lives at risk. When asked about the babies’ lives, the Gov. kindly reminded the questioner that he is the Governor of California and that his state must meet its quota of dead babies every year, or Screwtape will get very angry (I may or may not have made that last part up).
The Tech industry keeps cutting and the hospitality industry keeps growing. This is all an aftereffect of the Pandemic. Turns out people like going to bars, restaurants, and hotels more than they like being couped up in their homes with the latest iPhone and TikTok. Anyone wondering how the unemployment level is
staying so low despite major tech layoffs, its because the hospitality industry is hiring faster than the tech industry can fire.
