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Happy Tuesday.

In these crazy times, we know you’re looking for someone to say thank you. Just a small bit of kindness in your day.

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In Case You Missed It. 

Astronomers have detected gas on Venus, signs that there could be life on the planet! The 13-year-old boy in me wishes it was Uranus.

Apple has a product launch event later today, and we are anticipating a new Apple Watch and a new line of iPads. The 43-year-old boy in me is hoping for a refreshed iPad Mini with flat sides just like the iPad Pro design.

On Today’s Live Show: We’re going to deep dive Joe Biden’s tax plan and what it means for people making over $400,000 a year. Subscribe and join us at 9AM EST right here.

Coronavirus Update: Total confirmed U.S. cases as of 3 a.m. ET: 6,554,820 — Total deaths: 194,536 — Total recoveries: 2,474,570

The CDC says kids can and do transmit the virus to their households.

In Today’s Newsletter:

  • Social Security is running low on funds
  • John Deere gets its boycott on
  • Wear a mask or dig graves

INTEREST RATES


CONFIRMING LOAN
Program Rate Change APR Change
30 year 3.04%  0.05% 3.11% 0.05%
15 year 2.67% 0.07% 2.79% 0.07%

The Lead: Social Security is On Life Support

credit: istock

Social Security may run out of money by spending more than it collects and depletes its reserves by 2035, according to a new report by the Congressional Budget Office (CBO).

Social Security has two revenue streams, namely, the payroll tax on earned income and taxation of benefits. These could keep the program running if reserves are used up but it could mean cuts to beneficiaries, which is troubling. Over 64 million Americans receive Social Security payments, and 15.4 million of them are just barely pulled over the poverty line due to these payments.

Cause and Effect

There are many reasons that Social Security is in such bad shape, including an aging Baby Boom population, widening income inequality, and a decline in immigration, which means a smaller workforce to help pay into the program with their wages. With a functional government, we could expect Congress to do something to help, such as raise the retirement age or increase payroll taxes but look to the stimulus stalemate for evidence of how much we should expect from lawmakers.

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Ah, nevermind I’ll wear a mask

credit: getty

In Indonesia, anti-mask protesters have been punished by being forced to dig graves for COVID victims. This is super hardcore but and we are not advocating it but wow! Talk about “think about what you’ve done” kind of punishments!

Masks are required in Indonesia, but every country has its resisters. The local government rounded them up and made them dig graves but not handle the infected victims’ corpses. Experts in protective gear did that part.

News By The Numbers

credit: telegraph

826. That’s how many Chinese garden apartments sold in a matter of days when they went on sale in April. But only 10 families have moved in because they’ve been invaded by mosquitoes. Without any tenants to care for them, the eight towers have been overrun by their own plants.

$20 million. That is how much actress Halle Berry is being paid for her new film, “Bruised,” on Netflix for which she is both the lead actress and director.

24. That’s how many inches of rain are expect to inundate the gulf coast thanks to Hurricane Sally. The category 2 hurricane is expected to bring historic flooding throughout the area. If you’re in this region please be safe.

Race: Boycotting John Deere

giphy.gif credit: istock

A farming association is calling for a boycott of John Deere farming equipment. The 200-year old company has consistently refused to participate in the National Black Farmers Association annual conference, and the association has now taken offense.

The company’s repeated refusal is puzzling, considering it participates in predominantly white farm and landscape shows on a regular basis. The NBFA has 116,000 members in 42 states that are being called on to boycott John Deere as a result..

Sony has a tickle me Elmo moment

credit: Sony

My son wants a PlayStation 5 for Christmas, but Santa may have a severe supply problem. Sony has reportedly run into manufacturing issues and may not produce enough game consoles to meet holiday demands.

The issue is around the processor, designed by chipmaker AMD. Sony is only in receipt of 50% of the amount they needed. Sony had aimed to produce 11 million units by next March but is reported to have to cut that by 4 million.

Sony is holding an online press event tomorrow, where it is expected to announce the final pricing and release date for the PS5, and we will nudge Santa to place his orders immediately after!

The Robots are Coming

credit: Telexistence

Robots in Japan are stocking shelves in convenience stores. The singularity is here! Everybody panic!

So far, no robots have gone rogue in the FamilyMart, where a company called Lawson has deployed 7-foot robots to restock shelves in Tokyo. The robot is named Model-T, after the Ford car. The company plans to roll them out to 20 stores by 2022.

The robots move on a wheeled platform and “know” where to put things based on cameras and sensors controlled by a human. They also have a microphone in case a customer wants to ask them a question. The pilot in the back room can answer the question through the robot. So this is not quite the singularity if the human has to do the driving. YET!

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