Hong Kong Violence, Curve Inversion
Monday, July 1, 2019
Vol. 8, No. 173
China Syndrome: Violent protesters in Hong Kong today smashed the glass walls on the façade of the legislature building and have taken control of the chambers. The police had threatened to use force if the crowd entered the building.
Most of the protesters remained outside, breaking glass and peeling apart the exterior of the building. They called for the resignation of chief executive Carrie Lam.
It happened only hours after the government held a ceremony commemorating the 22nd anniversary of Hong Kong’s return to China from Britain. Hong Kong residents are determined to preserve their semi-independence. Weeks of protests were sparked by a proposed law that would allow people arrested in Hong Kong to be extradited to mainland China for trial.
Curve Inversion: The US economy is headed toward a recession according to a leading economic indicator known as the “yield curve inversion” that has preceded every recession over the past 50 years. The yield curve inversion is when long-term interest rates pay less than short-term rates.
The yield curve has remained inverted for three months, an entire quarter, which previously has been a clear signal that the economy will go into recession during the next nine to 18 months.
Plane Crash:Ten people died yesterday morning when a twin-engine plane crashed into a hangar shortly after takeoff at an airport north of Dallas. There were no survivors. The plane operated by a charter company out of Chicago was bound for St. Petersburg, Florida.
The Money Poll:The surprising presidential candidate Pete Buttigieg entered the money-raising big leagues in the past three months, collecting $24.8 million from 294,000 people. The ability to raise money is an early demonstration that a candidate’s message is getting through to voters.
The News Roundup: NASA has re-opened the original Apollo Mission Control Center as an historical display. It’s complete with skewed notebooks and coffee cups. — Argentine authorities have busted a huge weapons-smuggling operation that was supplying the country’s drug gangs. They found anti-tank land mines, artillery shells and hundreds of rifles in a network of houses, some outfitted with bunkers where weapons were assembled. More than 2,500 firearms were recovered. — A coordinated attack in Kabul that included a bombing and an assault by militants killed at least 40 people today. Violence in the Afghan war is picking up even as American and Taliban negotiators meet inQatar to reach a deal for an American troop withdrawal.
California Quake: Kevin Durant, the 10-time basketball All-Star who played the last three seasons with the Golden State Warriors, has agreed to go to New York with the Nets in a deal that rocks the NBA. Some New York Knicks fans were angry that their team didn’t snag him.
Durant finished the season with a torn Achilles tendon, often a career-ending injury. He’ll miss next season and there’s no guarantee he’ll ever play again. Durant turned down a five-year $221 million contract to go to New York and settled for a measly $141 million.
The Obit Page:Billy Drago, the hawk-faced character actor who played notably evil guys, has died in Los Angeles at age 73.
Drago played the sneering Frank Nitti in 1987’s “The Untouchables.” He murdered Sean Connery and Kevin Costner threw him off the top of the courthouse.
Sting: Once it was killer bees and now it’s “super nests” of yellow jackets. Homeowners in Alabama so far this year have found at least four of the nests that can be six or seven feet long and several feet wide. They house 14,000 to 18,000 bees.
Authorities warn people who find one to call a professional to deal with it. You think?
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