Monday Musings - May 16, 2022

 

1. Happy Monday and greetings. Welcome to the third Monday of May! There are two Mondays remaining in May and 32 remaining in the year. 

2. Congratulations to the Pittsburgh Penguins for another great season which ended last night with a game 7 overtime loss to the New York Rangers. The loss eliminates the Penguins from this year's Stanley Cup Finals. The Penguins held a commanding 3-1 lead in the series before getting swept the last three games to lose to the Rangers.

3. Rain! Yup, it is in the forecast for today. I wish we could readdress the rain and send it to the dry and parched regions of the country. 

4. Inflation. OK, so I am neither an economist nor a financial wizard, but I am concerned that the Federal Reserve (FED) is approaching the inflation crisis using outdated formulae. The current inflation crisis, unlike those of the past, is being fueled principally by outside forces: COVID, China lockdowns, Ukraine, and supply line disruptions. Our dependence upon the global economy, which is normally good, is underpinning the inflationary cycle. My view: instead of tightening the money supply to reduce demand, the Fed should provide inexpensive money to assist industry to research to overcome the problems. This should lead to greater U.S. economic independence and resilence. 

5. The Severn Seminoles 14U Baseball Team played a tournament in Delaware this weekend and posted a 1-1 record. Unfortunately the tournament was cut short by rain which thwarted their quest to win the Championship.

6. Don't miss the headlines that I have curated this morning. See below. 

7. Today in History. On May 16, 1929, the Academy of Motion Picture Arts and Sciences hands out its first awards, at a dinner party for around 250 people held in the Blossom Room of the Roosevelt Hotel in Hollywood, California.

The brainchild of Louis B. Mayer, head of the powerful MGM film studio, the Academy was organized in May 1927 as a non-profit organization dedicated to the advancement and improvement of the film industry. Its first president and the host of the May 1929 ceremony was the actor Douglas Fairbanks, Sr. Unlike today, the winners of the first Oscars—as the coveted gold-plated statuettes later became known—were announced before the awards ceremony itself.

Ukrainian forces reach border near Kharkiv: 'We made it!' - CNN

China's harsh lockdowns could exacerbate population crisis - CNN

Kim Jong Un mobilizes North Korea's military in response to Covid-19 outbreak - CNN

McDonald’s to Exit From Russia After Three Decades - The Wall Street Journal

Buffalo Shooting Suspect Wrote in School About Wanting to Carry Out an Attack - The Wall Street Journal

America Leans on Aging Power Plants to Keep the Lights On - The Wall Street Journal

Ruling parties in Sweden, Finland back NATO membership in historic shifts - The Washington Post

Russian oligarchs loved luxe Sardinia. Now they’re frozen out of paradise. - The Washington Post

Suspected gunman allegedly inspired by racist theory underpinning global carnage - The Washington Post

Russia will not 'simply put up with' NATO's Nordic expansion - Reuters

Analysis: Neutral Switzerland leans closer to NATO in response to Russia - Reuters

China's economy skids as lockdowns hit factories, retailers - Reuters

-- Bob Doan, Elkridge, MD