🌞 Snake Oil – September 02 2021

*Stock data as of the market close, cryptocurrency data as of 5:00am ET.

• Markets: Bitcoin surged above $50K and Cardano broke $3 dollars for the first time as the bulls returned. 
• Economy: The August jobs report, to be released by the Bureau of Labor Statistics on Friday morning, will be the last read on employment before the Fed’s next policy-setting meeting on Sept. 21 and 22.

The Lead: Supreme Court Does Its Best Ostrich Impression

credit: bbc

The Supreme Court denied a request to challenge the new abortion law in Texas, meaning that the law stands. It is the strictest abortion ban in the country, preventing all abortions past the sixth week of pregnancy and allowing civilians to sue anyone who participated in abortion for at least $10,000. 

Was this surprising? Depends on who you ask. The Supreme Court has a majority of conservative Justices and conservatives had hoped that those Justices would uphold stricter abortion bans. So there was writing on the wall that it would go this way. 

But yeah, it is still surprising. The famous Roe v. Wade ruling in 1973 prohibited states from imposing abortion restrictions but Texas went ahead and did that. Notably, the woman named Roe (a pseudonym) in that case who sued for her right to have an abortion lived in Texas!

The Justices voted 5-4 not to take up this case. Justice Sonia Sotomayor was particularly crestfallen. In her dissent, she wrote that she was stunned that the other Justices “have opted to bury their heads in the sand” over what she sees as a clearly unconstitutional law. 

President Biden condemned the law and vowed to challenge it and a group that represents abortion providers has vowed to continue to fight the law but it’s unclear how. 

The Cost of America's Endless Wars

credit: thekhalifah.com

Data from Brown University shows that the War on Terror has killed nearly 1 million people and cost more than $8 trillion. This is the post-9/11 war led by the United States into Iraq, Iran, Syria, Somalia, Pakistan, Afghanistan and other surrounding regions. 

This comes from the Cost of War Project, which is a public accounting for the summation of these wars. It estimates that of this death count, approximately 387,000 were civilians, 207,000 were military or police and 301,000 were opposition fighters. The expense was added up from the U.S. expenditures in foreign territories. It includes $2.3 trillion in Afghanistan, $2.1 trillion in Iraq and Syria, $355 billion in Somalia and other African regions. 

These are by no means final numbers. Millions of veterans will require support for generations to come and the project estimates that this could cost more than $2.2 trillion by 2050. 

Context: See yesterday’s story about Social Security running dry in 15 years. Add to that Congress arguing over fixing America’s roads and bridges, a healthcare system that enriches insurance and pharmaceutical companies, an eviction moratorium that ends soon and a $7.25 an hour minimum wage. And then re-read the above paragraphs where we spent $8 trillion dollars on an open-ended War on Terror with no end in sight.

Sponsor: Ultimate Ears

The perfect gift for Back to School. Ultimate Ear FITS are the world’s most comfortable earbuds. You get premium sound with all-day comfort.

Here's how they work:

• Using groundbreaking Lightform technology, UE FITS mold to the unique contours of your ear in 60 seconds. You'll feel it getting warm until it creates the perfect fit and the light activates and completes the mold. 

• You get a guaranteed perfect and UE FITS will stay put when you’re on the go, but feel ultra-comfortable so you can wear them all day long—without pain or discomfort.

• Built on industry-leading expertise trusted by pro musicians and hi-fi enthusiasts for over 25 years.

• Engineered to provide a full, warm sound with a tight, punchy low-end. And you can set custom EQ presets through the UE FITS app, too.

• Play and pause music and answer calls with built-in controls. And use the free app to set custom actions—like voice assistant, volume adjustment, and more.

For a limited time, get 15% off your pair of UE FITS True Wireless Earbuds at ue.com/fits. Just use promo code INVEST at checkout.

This Won't Hurt A Bit

credit: giphy

This sounds like snake oil but nevertheless, here is the story: Researchers in Brazil have found that viper venom can prevent the spread of Covid. 

The study was published in a scientific journal called “Molecules.” The scientists injected monkeys with venom from the jararacussu pit viper and found that it was 75% effective at preventing the multiplication of Covid. The venom has a peptide that can connect to an enzyme of Covid and slow it down without hurting other cells, the scientists say. 

They hope to test this in humans but have not said when or how they will do this. They caution that this is not a DIY curative. 

“We're wary about people going out to hunt the jararacussu around Brazil, thinking they're going to save the world … That's not it!” Giuseppe Puorto, one of the lead researchers, told Reuters. 

Chances are, you wouldn’t be very lucky if you tried. The jararacussu is one of the largest snakes in Brazil measuring up to six feet long. 

College Kids vs. Environment

credit: giphy

A judge in California says that enrolling more college students is bad for the environment. The judge ordered U.C. Berkeley to freeze the number of students it admits due to the California Environmental Quality Act. 

The ruling says that “further increases in student enrollment above the current enrollment level at UC–Berkeley could result in an adverse change or alteration of the physical environment.

The California Environmental Quality Act was enacted so that governments could inform the public about the environmental impact of projects such as roads and buildings. This is the first time it has been applied to humans. The university was making plans to increase enrollment and a court said that this counted as a “project” because it will strain the already-crowded city of Berkeley’s housing. 

News By The Numbers

80. That is how many signed Ronaldo T-shirts the Queen has reportedly ordered from the footballer for her staff when he reports to practice for his new team, Manchester United.

1.1 years. That is how long a senior person’s life could be extended if they move to less populated areas as they age. The same study showed that aging in the South had negative effects on the longevity of life. 

$45 billion. That is the value of merchandise stolen from retailers by organized crime this year, according to a law enforcement trade group that fights it. That is up from $30 billion per year a decade ago. These crime groups steal from retailers and resell the items on Amazon and retailers like CVS are spending a lot of time and money to stop it. 

58%. That is how many California voters oppose the recall election to remove Gavin Newsome from his Governorship, according to a recent poll.  

I'm Sorry Buddy

credit: clayton morris

Can your dog sense when you’ve messed up? A new study suggests that they can. 

In the study, humans passed treats to dogs through a glass partition. Sometimes the humans failed to deliver the treats by pretending to drop them. Sometimes the humans simply withheld the treats. The dogs walked around the partition to get the treats themselves but when the treats were deliberately withheld, the dogs showed hesitancy to come around. When the treats were dropped by accident, the dogs seemed to know it and figured they’d help the humans out and pick up the treats themselves. 

Researchers say that this indicates that a dog can discern human intentions. I myself have wondered this when I have accidentally stepped or sat on Grover Dog. He yelps but he doesn’t seem overly pissed off. Maybe he also understands the words, “I’m sorry buddy!”

Today's Live Show

HURRICANE IDA PAVES THE WAY FOR STIMULUS

Join us on today's live morning show. Click here to subscribe for free.

We'll be analyzing why the destruction left by Hurricane Ida could pave the way for stimulus. Plus the mainstream media continues to spread lies about Afghanistan. And podcaster Joe Rogan has Covid and plans to use experimental drugs. All of that and more on today's show  Click here to RSVP and I'll see you at 8:30 AM Eastern. 

Share The Love

Become a friend of Morning Invest by sharing this newsletter with someone you love.

When you do, we don’t just give you a pat on the back and say, “Well done old sport.” We give you actual rewards that’ll make everyone jealous.

Share Now