Economy
A Monthly Peek into Americans’ Credit During the COVID-19 Pandemic (edelinski)
A moratorium on foreclosures was provided as part of the CARES Act. Foreclosures—which were at historic lows before the pandemic hit, have stopped almost entirely, and we simply are not seeing new foreclosures on consumer credit reports (those that remain are likely to have started prior to the moratorium). Bankruptcy filings, by contrast, slowed down sharply in April when most courts were closed, but have trickled up slowly a bit since.
Capital One to pay $80 million fine after data breach (Sparky1)
In July 2019, the bank disclosed that personal information including names and addresses of about 100 million individuals in the United States and 6 million people in Canada were obtained by a hacker. The suspected hacker was a former employee of Amazon Web Services, a cloud provider where the bank had moved some of its data.
Bezos sells Amazon shares worth $3.1 billion (Sparky1)
Bezos, the world’s richest man, had said he planned to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin.
The latest share sale leaves him with 54.5 million shares worth roughly $174.64 billion at the current market price.
Goodbye, greenback! As they abandon dollar in trade, Russia & China could create ‘financial alliance,’ leading Russian expert says (Dutch Boomer)
Russia’s de-dollarization policy began back in 2014, as a result of Western nations imposing sanctions on Moscow over its reunification with Crimea. China joined in with a move away from the greenback a few years later when US President Donald Trump declared a trade war against Beijing.
Gold at $2k+. So why the fuss? (TourGuideDC)
An awful lot of gold bulls are going to be disappointed when their unallocated bullion bank holdings turn to dust in the coming months — perhaps it’s a matter of a few weeks, perhaps only days — and synthetic ETFs will also blow up. The systemic demolition of paper gold and silver markets is a predictable catastrophe in the course of the collapse of fiat money’s purchasing power, for which the evidence is mounting. It is set to drive gold and silver much higher, or more correctly put, fiat currencies much lower.
New York Attorney General Moves To Dissolve The NRA After Fraud Investigation (edelinski)
“The NRA’s influence has been so powerful that the organization went unchecked for decades while top executives funneled millions into their own pockets,” James said in a statement. “The NRA is fraught with fraud and abuse, which is why, today, we seek to dissolve the NRA, because no organization is above the law.”
James’ complaint names the National Rifle Association as a whole but also names four current and former NRA executives: Executive Vice President Wayne LaPierre, general counsel John Frazer, former Chief Financial Officer Woody Phillips and former chief of staff Joshua Powell.
New York sues to break up NRA, accuses it of corruption (Sparky1)
James alleged in a statement that NRA leaders “used millions upon millions from NRA reserves for personal use,” failing to comply with the NRA’s own internal policies in addition to state and federal law.
She told reporters the NRA “has operated as a breeding ground for greed, abuse and brazen illegality,” adding that “no one is above the law.”
Widespread power outages reported in New York City (Sparky1)
New Yorkers are waking up to widespread power outages, mainly on the Upper West Side and in Harlem.
In Interest.co.nz’s Election Series, the University of Otago’s Janet Stephenson and Etienne Nel argue our political parties need a plan for a ‘post-growth’ world (Downunder Bound)
The World Bank is projecting a 5.2% contraction in global GDP in 2020 alone due to Covid, with advanced economies shrinking even more, at 7%. Other recent evaluations suggest global losses from Covid at $46 trillion to $82 trillion in a worst-case scenario over 5 years. The International Labour Organisation estimates that over 400 million people have already lost their jobs. Global poverty is on the rise again after 30 years of slowly decreasing numbers, and an estimated 100 million people will be pushed into extreme poverty.
Inside the ‘culture of violence’ alleged by LAPD SWAT whistleblower (000)
The Los Angeles Police Commission ruled that the officers had opened fire when they were not in imminent danger or when they were too far away to determine whether a threat existed. Of 13 officers investigated, the commission ruled that 12 had used deadly force in a way that “was not objectively reasonable and was out of policy.”
It was one of three incidents that a SWAT officer reported to LAPD internal affairs early last year as part of a whistleblower complaint about the elite unit.
As many as 100 people involved in brawl at California hotel (Sparky1)
Every officer available, about 50 or 60, was dispatched to separate the two groups, as well as 10 officers from Orange County, Carringer said. There were no injuries to police or hotel staff, and the fight was contained to guests, he said.
Silver ‘boost to antibiotic success’ (Daddy-O McDadstein)
According to England’s chief medical officer, Prof Dame Sally Davies, antibiotics are losing their effectiveness at a rate that is both alarming and irreversible.
Silver acts against Gram-negative bacteria – one of the two main types of bacteria – which are particularly difficult pathogens to treat.
The Decline and Fall of San Francisco (thc0655)
Not long ago UC Hastings School of Law, as well-regarded law school in downtown San Francisco, sued the city because local neighborhood conditions had deteriorated to the point that the law school was losing prospective students who took one look at the place and said, “No, thanks!” Hastings is a very liberal law school—I don’t think they have a single conservative on their faculty—but as Robert Conquest reminded us, everyone is conservative about the matters they know best or which affect them most directly.
Biker rally expects 250,000 people but not requiring masks (Sparky1)
Sturgis, South Dakota, Mayor Mark Carstensen talks with CNN’s John Berman about the city’s upcoming motorcycle rally that expects more than a quarter of a million people to show up, during the coronavirus pandemic.
The Afflictions of the Comfortable (edelinski)
According to The New York Times, “tens of thousands of New Yorkers live in close quarters in cramped spaces, physically unable to quarantine from any sick household members.” The paper quoted a doctor as saying that those getting sick are “people who are stuck at home, immigrants who are living 10 people in one apartment.” In a mental-health survey of 2,000 college students, nearly all said the virus had caused stress or depression, with nearly half saying a major source was the virus’s financial impact on them or their families.
How bad is covid really? (A Swedish doctor’s perspective) (dwatney)
I am not denying that covid is awful for the people who do get really sick or for the families of the people who die, just as it is awful for the families of people who die of cancer, or influenza, or an opioid overdose. But the size of the response in most of the world (not including Sweden) has been totally disproportionate to the size of the threat.
Toxic chemicals may be in fast food wrappers and take-out containers, report says (Sparky1)
Testing by the groups revealed toxic PFAS substances — man-made perfluoroalkyl and polyfluoroalkyl chemicals — in the food packaging of Burger King’s “Whopper,” chicken nuggets and cookies; in Wendy’s paper bags; and in McDonald’s wrappers for the “Big Mac,” french fries and cookies.
“As the largest fast-food chain in the world, McDonald’s has a responsibility to its customers to keep them safe. These dangerous chemicals don’t belong in its food packaging. I, for one, am NOT ‘lovin’ it,'” said Mike Schade, Mind the Store campaign director, in a statement.
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The post Daily Digest 8/8 – NY Sues To Break Up NRA, Inside The ‘Culture Of Violence’ At LAPD SWAT appeared first on Peak Prosperity.
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