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US birth rate sees biggest fall for nearly 50 years
(05/04/2021)
- The US birth rate declined by 4% in 2020 to the lowest (1.6 children per woman) ever since being tracked by federal officials (100+ years).
- The rate dropped across all races, ethnicities and age groups.
- While birth rates for young women had been in multi-year decline, births among older women had been inching higher until 2020.
- While the decline was largely driven by economic anxiety surrounding Covid, pregnancies were lower pre-pandemic.
- The US is now firmly below the population replacement rate of 2.0 children/woman.
New Study Estimates More Than 900,000 People Have Died Of COVID-19 In U.S.
(05/06/2021)
- University of Washington researchers estimate that over 900,000 people have died from Covid in the US, 57% higher than official records.
- The analysis involved examining excess deaths from March (2020) to May (2021), comparing deaths in non-pandemic years.
- The figure doesn’t account for excess deaths indirectly attributable to the pandemic (eg increase in drug overdoses, delayed healthcare) which were largely offset by fewer deaths elsewhere (eg lower flu, injury deaths).
- However, many experts disagree that all net excess deaths are attributable to Covid.
Tesla Losing Source of Credit Revenue That’s Been Key to Profits
(05/05/2021)
- Stellantis NV, the automaker formed via merger between PSA Group and Fiat Chrysler, announced that its ending its European emissions-credits purchasing agreement with Tesla.
- For years, Tesla has earned billions in revenue from selling regulatory credits to petrol automakers exceeding maximum emissions standards.
- This revenue is 100% profit and has consistently exceeded Tesla’s operating net income (pushed Tesla into profitability).
- As more automakers manufacture electric vehicles, this revenue will decline significantly.
- Tesla has sold Stellantis $1.9B worth of regulatory emissions credits since 2019.
Boomer Wealth Is Cascading Down as Biden Weighs Inheritance Tax
(04/28/2021)
- A recent survey found that 66% of US households worth over $25M attributed their wealth to inheritance, up from just 22% in 2007.
- Much of this shift is driven by Baby Boomers (ages 55-69) passing down assets to their heirs.
- Current US tax law allows heirs to use the market value of assets at the time they are inherited (as opposed to the original purchase price) as the base value for taxation.
- Biden has promised to close this loophole and raise estate taxes.
Samsung heirs reveal legacy plan: $11bn in tax and 23,000 artworks
(04/28/2021)
- The late Lee Kun-hee’s heirs to the $20B Samsung fortune have vowed to pay South Korea $11B in inheritance taxes.
- The 60% estate tax, South Korea’s largest ever, is to be paid in installments over 5 years.
- The Lee family has also pledged billions towards healthcare and they will donate 23,000 artworks to various South Korean museums.
- The family’s public image had been damaged over bribery charges for which one heir was jailed.
- The taxes will be paid using loans and dividend income proceeds.
More Americans Are Considering Retirement Because of Covid
(04/30/2021)
- The unprecedented surge in stock portfolios and home values over the last year is pushing more American baby-boomers (ages 55-69) into early retirement.
- Government data shows that 2.7 million Americans are contemplating early retirement.
- Many also cite Covid work from home fatigue and dreading the return to normal work life (eg commutes, travel) as driving factors.
- Assets controlled by baby boomers soared by $4.2 trillion in 2020, including $2.2 trillion from stocks and mutual funds as well as $750B from home price appreciation.
Reaching ‘Herd Immunity’ Is Unlikely in the U.S., Experts Now Believe
(05/03/2021)
- While half of US adults have received at least one (1) dose of the Covid vaccine, declining daily vaccination rates make widespread herd immunity increasingly unlikely.
- Last year, experts believed that 60-70% US ‘herd immunity’ via natural infection and vaccination was achievable.
- However, new more-contagious variants have pushed the immunity threshold up to 80% Herd immunity is further complicated by surveys showing 30% of the population still reluctant to be vaccinated.
- Vaccinating the most vulnerable and making Covid manageable is now the primary goal.
Swiss Billionaire Quietly Becomes Influential Force Among Democrats
(05/03/2021)
- Since 2016, Swiss billionaire Hansjörg Wyss has quietly donated $208M to various left-leaning US political organizations.
- Born in Bern, 85 year-old Wyss’ wealth derives from Swiss-based medical device maker Synthes.
- A longtime resident of Wyoming, Wyss hasn’t disclosed whether he’s legally a permanent resident or US citizen.
- Federal law bars foreigners who aren’t permanent residents from donating directly to US politicians or PACs.
- As of 2019, the DC-based Wyss foundation had $2B in assets.
- Wyss’ donations were heavily directed towards defeating Trump in 2020.
What Happens to Your Body on No Sleep?
(04/02/2019)
- Scientists have found that the effects of acute sleep deprivation, or all-nighters, kicks in after being awake for 16-18 hours straight.
- The first sign is a sluggish mind, with reaction times lagging to the equivalent of being legally drunk by the 24th hour awake.
- After 24 hours, your brain starts forcing you into 10-20 second periods of “micro-sleep”.
- After 35 hours, the brain’s emotion-emitting amygdala becomes 60% more reactive and the ability to regulate emotions declines.
- Hallucinations are common after 48 hours awake.
