*Stock data as of market close, cryptocurrency data as of 5:00am ET.
Markets: GMO co-founder Jeremy Grantham says the market crash has begun. He predicts a drop of 50% in stocks. He might be spot on. Crypto and Equities really look ugly this morning. Bitcoin plummeted to its lowest level in 5 months. Ethereum down below $3,000. U.K. retail sales plunged as Omicron kept shoppers at home.
Housing prices in the U.S. are still growing at a truly unsustainable rate. The average home price is up over $50,000! In a single year!
The median home price is now $346,000. That is 17% higher than last year.
Lawrence Yun, the National Association of Realtors’ chief economist, expects that prices will continue going up this year but only by 4-5%. Yun says that this is not due to inflated values and shoddy lending, which caused the 2008 crash. Instead, it is a supply problem. Too many people want houses that are simply not there.
Renters are also feeling this increase. The average rent in the U.S. spiked 18%. The cities that saw the fastest rent increases were New York and Tampa. The cities with the slowest rent increase were Oakland and Minneapolis.
A group of millionaires penned a letter asking their governments for more taxation at the Davos World Economic Forum. The wealthy people hailed from North America and Europe, the continents that already have some of the highest global tax rates.
“To put it simply, restoring trust requires taxing the rich,” the letter says. “The world – every country in it – must demand the rich pay their fair share. Tax us, the rich, and tax us now… If you don’t, then all the private talks won’t change what’s coming – it’s taxes or pitchforks. Let’s listen to history and choose wisely.”
Hm. The letter ignores what Western nations actually do with that money. As if the United States would collect those extra tax dollars and use them to pay for, say, health care, affordable medicines and education. In fact, recent Treasury reports show that the country does nothing of the sort. This is a truly puzzling letter. You better believe we will have something to say about it in today’s live show at 9AM Eastern.
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This no-duh study comes from Everytown for Gun Safety, an organization that aims for common sense gun legislation throughout the U.S. Specifically they found that states with looser gun laws have more homicide than states that have gun laws.
California, Hawaii, New York and Massachusetts have the tightest gun laws and the lowest rate of gun-related deaths, although you wouldn’t know that from the media, would you? The states with the loosest gun laws and the highest gun-related deaths were Louisiana, Missouri and Mississippi.
“What this project does, is show what we've been saying for years: Gun laws save lives,” Nick Suplina, senior vice president of law and policy at Everytown for Gun Safety Support Fund, told CNN. “We think this is going to be a really important tool for lawmakers, reporters and advocates that have been looking for the kind of visual tool that can make that case clearly.”
What has the pandemic done to the babies born during this time? New research shows that it has not been good to these little bundles of joy.
A study published in JAMA shows that babies born between March and December of 2020 show delays in gross motor skills, fine motor skills and social skills. This was true whether or not the mother ever had Covid, showing that this has very little to do with Covid and more to do with the experience of living through a pandemic. Researchers say that this generation will have a higher proportion of “subnormal” people as a result.
It only stands to reason! A generation of babies cut off from normal socialization and extended families! Oh my heart, we owe them, don’t we!
News By The Numbers
40 quintillion. That is how many black holes there are in the “observable universe,” according to a team of astrophysicists. That is 40,000,000,000,000,000,000.
$800,000. That is the average annual American salary, according to students surveyed at Wharton school of business. They are off by a magnitude of 16. Their parents might want to rethink that high tuition.
100. That is how many venomous snakes a man in Maryland had in his home when he was found dead. Police cannot assure his neighbors that they captured them all.
43%. That is the approval rating of President Biden, according to a Reuters/Ipsos poll. That is the lowest of his presidency thus far.
Adele is trending because the singer had to postpone the opening of her Las Vegas show. She posted a tearful Instagram saying that her show "ain’t ready” due to delays and Covid infections on her crew. She failed to mention that ticket sales have also been very weak. New dates will be announced soon.
#TheBatman is trending because the new movie's runtime has been revealed. It will be the one of the longest comic book films ever made checking in at 2 hours and 47 minutes without credits.
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