Thursday, September 22, 2022

Wake-Up Call: Russians Revolt

Russian President Vladimir Putin announced yesterday that up to 300,000 Russian citizens will be pressed into military service to pursue the war against Ukraine. He characterized it as calling up the military reserves, but all men of military age are considered reservists in Russia. More than 1,200 protesters were arrested as demonstrations against the war broke out across Russia. Protesting in Russia is punishable with up to 15 years in prison. Others are trying to leave the country, but tickets quickly sold out to Turkey and Armenia, where Russians can travel visa-free.

 Putin also made a barely-veiled threat to use nuclear weapons in Ukraine: “I want to remind you that our country also has various means of destruction… and when the territorial integrity of our country is threatened, to protect Russia and our people, we will certainly use all the means at our disposal,” he said. “It’s not a bluff.”


Hours later, President Joe Biden addressed the United Nations and said that Russia “has shamelessly violated the core tenets of the United Nations Charter. He also reiterated U.S. support for Ukraine. The U.S. has contributed at least $16 billion to Ukraine’s defense.



➤RUSSIAN-BACKED FORCES RELEASE CAPTIVES: Two Americans and five British citizens held in Ukraine for months have been released by Russia-backed forces there. They were released as part of a complicated prisoner swap between Russia and Ukraine that was brokered by Saudi Arabia. Alexander John-Robert Drueke, of Tuscaloosa, Alabama, and Andy Tai Ngoc Huynh, of Hartselle, Alabama, were fighting for Ukraine when they were captured in June.

 ➤SUIT AGAINST TRUMP ALLEGES ‘STAGGERING’ FRAUD: New York State’s attorney general yesterday filed a civil suit against former President Donald Trump and three of his children for fraud against banks, insurers and the Internal Revenue Service. The suit alleges that the Trumps and the Trump organization created financial statements that were “greatly exaggerated, grossly inflated, objectively false, and, therefore, fraudulent and illegal.” Those named in the suit include Trump, his sons Donald Junior and Eric and his daughter Ivanka as well as two employees of the Trump Organization. Attorney General Letitia James is seeking payment of $250 million in allegedly ill-gotten gains. The suit is being referred to federal prosecutors and the IRS to review for possible criminal violations. In a post on his Truth Social site, Trump dismissed the investigation as “Another Witch Hunt by a racist Attorney General.”

➤CRIMINAL PROBE OF MAR-A-LAGO DOCUMENTS RESUMES: In another legal setback for Donald Trump yesterday, a federal appeals court overturned a lower court ruling and allowed the Justice Department to resume its review of documents marked classified that were seized from Mar-a-Lago, Trump’s home in Florida. The ruling was issued by the 11h U.S. Circuit Court of Appeals. Two of the three judges were appointed by Trump.

➤FED HIKES INTEREST RATES: The Federal Reserve yesterday increased the interest rate it charges by three-quarters of a percent, and said it plans more hikes before the end of the year. The aggressive moves are intended to reduce inflation, which is now at its highest rate in 40 years.

➤WHAT RATE INCREASES MEAN FOR YOU: Federal Reserve interest rate changes do not affect consumers directly, but they inevitably change the rates that consumers pay. If you have a credit card with a variable interest rate, that rate will rise with this week’s decision. If you buy a car or get a mortgage, the interest rate will be higher than before. If you are repaying a student loan, your rate will not change, but new student borrowers will almost certainly pay a higher interest rate. If you have a savings account or a CD, you should be able to get a better return for your money.
 

🏠HOME SALES DROPPED 20% IN AUGUST: The number of homes sold declined by 20 percent in August. It was the seventh monthly decline in a row. Prices have remained stubbornly high.
 
➤WASHINGTON MONUMENT VANDALIZED: An Indiana man has been arrested for vandalizing the Washington Monument. Shaun Ray Deaton, of Bloomington, is accused of splashing red paint on the base of the monument, and adding an obscenity directed at the government. It is not clear what his problem is.

➤PROGRESS MADE IN CANCER TREATMENT: The rate of cancer deaths is steadily decreasing due to improved treatments, diagnostic tools and prevention strategies. According to a report published by the American Association of Cancer Research, more than 18 million people in the U.S. have survived cancer, compared to three million in 1971. More advances are expected in the near future, particularly in the field of immunotherapy.

⛽GASOLINE PRICES END DECLINE: The national average for a gallon of gasoline rose by almost one penny to $3.681 per gallon from $3.674 after steadily falling every day since early June, according to data from AAA.  Gas prices hit a record high of $5.02 per gallon on June 14, which was the last time prices rose. At the time, U.S. crude was about $120 a barrel and the benchmark international price was even higher. Since then, oil prices – which account for over half of what consumers pay at the pump – have tumbled.

💸WINNERS OF $1.34 BILLION MEGA PRIZE EMERGE: The winners of a $1.34 billion Mega Millions lottery jackpot have finally emerged, eight weeks after the drawing. The prize for the single winning ticket will be split between two people who purchased it together at a Speedway gas station in Des Plaines, Illinois. The winners have spent their time getting legal and financial advice before stepping forward.
➤BUYERS LINE UP FOR ELECTRIC HUMMER: You can’t buy an all-electric GMC Hummer pickup or SUV for any amount of money. You can’t even get a reservation to buy one. General Motors announced yesterday that it isn’t taking any more reservations for the new models, having hit its limit of 90,000, the Detroit Free Press reported. The vehicles are being made in Michigan.

🏀DISGRACED OWNER TO SELL PHOENIX SUNS AND MERCURY: Robert Sarver announced he is looking for a buyer for the Phoenix Suns and the Phoenix Mercury, one week after he was suspended and fined by the NBA for racist and misogynist harassment of his employees. The NBA was relieved: “We thank Mr. Sarver for making a swift decision that was in the best interest of our sports community,” said NBA President C.J. McCollum in a statement. According to ESPN, Sarver actually owns only about one-third of the team but is authorized to sell it as managing partner.

⚾NEXT GOAL FOR AARON JUDGE: New York Yankees outfielder Aaron Judge hit his 60th home run of the season on Tuesday night. That puts him in an exclusive club that has only five other members: Barry Bonds, Mark McGwire, Sammy Sosa, Roger Maris, and Babe Ruth. His next home run will be bigger: His 61st home run of the season, when it comes, will match a record set by Maris in 1961. That is the “clean” home run record, leaving out Bonds, who hit 73 in 2001. Some discount Bonds’ achievement due to allegations of use of performance-enhancing drugs common in that era.

🏀CHICAGO BULLS’ LONZO BALL OUT FOR WEEKS: Chicago Bulls guard Lonzo Ball will miss training camp and the start of the new season due to knee surgery. It’s the second surgery on his left knee. The first kept him out of the game for part of last season. The Bulls open their new season on October 19th in a game against the Miami Heat.

⚾BUSTER POSEY JOINS GIANTS OWNERSHIP GROUP: Retired San Francisco Giants star Buster Posey is returning to the team as a member of the ownership group. Team executives announced yesterday that Posey has become the 31st principal partner and a member of its Board of Directors. Posey, 35, retired as a player last year.

🏀FORMER UCLA BASKETBALL STAR JALEN HILL DEAD AT 22: Jalen Hill, a star player for the UCLA Bruins, has died at the age of 22. His family declined to release any information on the circumstances of his death. Hill played for UCLA from 2018 to 2021 before leaving the team, citing a struggle with anxiety and depression.

➤NEXT STORM? AccuWeather forecasters are looking ahead to the next tropical threat behind Hurricane Fiona, which pummeled the Turks and Caicos Tuesday as a Category 3 storm and poses a threat to Bermuda and parts of eastern Canada later this week, and are cautioning about new development in the Atlantic basin that could be a danger to the mainland United States late in the month.  A system that was dubbed Tropical Depression Eight Tuesday morning over the middle of the Atlantic was further upgraded to Tropical Storm Gaston as of Tuesday afternoon. Gaston is not expected to be a threat to the Caribbean or North America, but it could wander close enough to the Azores to bring strong winds, rough seas and heavy rain as a strong tropical storm or perhaps a hurricane later this week and this weekend.



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