🚨 Raising Rates – February 02 2023

*Stock data as of market close, cryptocurrency data as of 5:00pm AM. 

The Lead: WEF Warns of New Crisis

credit: shutterstock

Here is a term you’re not going to like: Polycrisis. Meaning: Many interconnected crises at the same time.

The World Economic Forum’s Global Risks Report was published recently and it is an annual assessment of human survival, or lack thereof, based on perceived risks such as high cost of living, wars, conflicts and natural disasters. The WEF ranks these risks as short-term or long-term. 

This year, the WEF says that it is concerned about a polycrisis, mostly because of the war between East and West. They say that the global conflicts will “have ripple effects across the global risks landscape over the medium term, including contributing to a potential polycrisis of interrelated environmental, geopolitical and socioeconomic risks relating to the supply of and demand for natural resources.”

The polycrisis is made up of a lot more than war, climate and costs. It also includes digital risks such as cybercrime, terrorists attacks, employment crisis and my favorite: misinformation and disinformation. As a global crisis. Okay?

Harold, it says here my newspaper is throwing out 'objectivity' 

credit: giphy

The media is throwing objectivity out the window. Or the illusion of objectivity because maybe that was always a ruse. 

A new playbook shows journalists how to "gain back eroded trust." It was based on over 75 interviews done with news execs. It addresses this question: If the media can’t be objective, how can they “create a new set of standards for trustworthy news?” 

What’s so wrong with objectivity? The report says that “objectivity” is “an unachievable or misleading goal and many journalism practitioners no longer use the term…. Newsroom leaders are confronting a generation of increasingly diverse young journalists struggling to reconcile traditional news standards with their concepts of “cultural context,” “identity,” “point of view,” and “advocacy journalism.” 

Their concepts? Meaning they want to do those things with their journalism? In which case, they’re not journalists. They’re pundits and advocates. 

Those who aim for objectivity, says the report, are “white male newsroom leaders.” When reporters are hired for their diversity, however, they cannot be expected to be objective. 

How does this gain back eroded trust exactly? 

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Vax Makers Pocketing The Difference

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The New York Times is reporting that Covid vaccine makers have kept $1.4 billion in advance payments for vaccines that were never delivered. 

These are vaccines that were sold to Gavi, the non-profit vaccine organization that delivers vaccines to poor countries. Gavi had a hard time obtaining Covid vaccines to begin with because the makers wanted to prioritize wealthier countries. When they finally placed orders, they were charged for vaccines they did not need. 

According to The New York Times, “Gavi financial documents show the organization has been trying to stanch the financial damage. If it cannot strike a more favorable agreement with another company, Johnson & Johnson, it could have to pay still more.” 

Johnson & Johnson posted a $94.9 billion profit last year. Their contracts with Gavi do not require them to refund the payments but should they?

Speaking of Covid, a new study shows that Vitamin D decreases the risk of death and ICU admission in Covid patients. Dr. John Campbell says that based on these studies, he now believes that “it’s unethical for authorizing bodies not to advise Vitamin B supplementation.” 

What's Trending?

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Tom Brady is trending because he says he is retiring for real this year. 

Misheard lyrics are trending because of this fun trend admitting lyrics you make up. I had a friend who thought that the famous C&C Music Factory song was called “I Was Born In Dance Town.” 

Ozzy Osbourne is trending because he canceled his tour saying his touring career is over. He is 74 years old and I do not blame him one little bit. 

Beyonce is doing the opposite and announced a world tour called Resistance.

Misheard lyrics are trending because of this fun trend admitting lyrics you make up. I had a friend who thought that the famous C&C Music Factory song was called “I Was Born In Dance Town.”  Ozzy Osbourne is trending because he canceled his tour saying his touring career is over. He is 74 years old and I do not blame him one little bit.  Beyonce is doing the opposite and announced a world tour called Resistance.

News By The Numbers

credit: reuters

33%. That is how much Pfizer says that its revenue may decline in 2023 as the demand for Covid treatments and vaccines wanes. Don’t feel sorry for them though, they posted a record $100 billion in profit last year.

75. That is the age of Donnie Anderson, a trans-identified male, who won an unopposed race for the Chair of the Rhode Island Democratic Women’s Caucus. 

300,000. That is how many teachers, civil servants and train drivers were on strike in the UK on Wednesday demanding better pay and working conditions. 

$42,909. That is how much Russia will pay soldiers as a bonus for capturing Leopard 2 tanks in working conditions. If they destroy it, they only get $14,303.  

Sex Machine

a northern quoll wearing an accelerometer backpack to study its movements credit: rt

One unlucky creature is becoming extinct because it overexerts itself during mating season. Meet the male northern quoll, an Australian marsupial. 

The males die after each mating season because they make themselves sick by staying up all night to find and mate with females. They only rest 8% of the time and after prolonged sleep deprivation, they start to look haggard with lost weight and fur. But they are not to be deterred in pursuit of procreation and it costs them their lives! 

The females do not do this so they can live up to four times longer. 

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