🔄 Tucker Carlson Tweeted: That's DOCTOR Jill Biden To You!
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TOGETHER WITH
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Good snowy morning. We
must begin today’s newsletter with a shoutout to the Brew U team at the
University of Washington. This fine crew of Huskies won our college
ambassador competition for getting the most new Brew readers last
semester.
If you’re
the kind of college student who gets up before 11am even if you don’t
have to and wants to spread the Brew around your campus, stay tuned:
We’ll be announcing the spring semester of the Brew U program in
January.
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NASDAQ
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12,658.19
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S&P
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3,701.17
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DOW
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30,154.54
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- 0.15%
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GOLD
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1,868.80
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+ 0.73%
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10-YR
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0.916%
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+ 0.30 bps
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OIL
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47.89
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+ 0.57%
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*As of market close
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Markets: The price of one bitcoin topped $20,000 for the first time ever yesterday. Will that be enough to earn it a spot in the Markets graphic? Unclear.
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Economy: Retail sales fell a greater-than-expected 1.1% in November, a worrying sign considering Americans typically spend more in the lead-up to the holiday season.
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Francis Scialabba
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Yesterday’s
news felt like that moment where you think you spot someone who looks
exactly like a celebrity. But, was Sophie Turner actually browsing for
produce at Safeway?
Sophie Turner = a second stimulus package. After about half-a-year of playing chicken, U.S. lawmakers appear to be on the precipice of a follow-up to the CARES Act.
What’s in the most delayed sequel since Top Gun: Maverick
According to reports, the proposal totals about $900 billion and includes funding for:
- Another round of direct payment checks of about $600–$700 for people earning under a certain income threshold
- Continuation of the Paycheck Protection Program for small businesses (we wrote about this yesterday)
- Supplemental federal unemployment benefits
- Vaccine distribution and schools
What’s reportedly not in the current plan:
aid for states and local governments and liability protection for
businesses. Democrats wanted the former, while Republicans pushed for
the latter. In a classic D.C. compromise, they dropped both.
Reality check:
The help can’t come soon enough. A recent report found that about 8
million Americans have fallen into poverty since the summer. Plus, the
pandemic is resurgent in many areas, compounding the economic crisis,
and several aid programs will expire at the end of the year.
- Also...the government will run out of money at midnight on Friday without a spending bill.
Fed Chair Jerome Powell is trying
to do his part to juice the economy. At the conclusion of the Fed's
two-day meeting, the central bank said it will keep interest rates near
zero and keep buying bonds until the U.S. reaches full employment and
inflation settles at 2%.
Looking ahead...the
House could vote on the stimulus bill today, followed by the Senate
tomorrow if all of its members are on board. But if there are any snags,
votes could spill into the weekend.
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Giphy
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While 2020
encouraged many people to experiment with new hobbies, like chess or
screaming into the void, the nation's top legal officials have settled
on their preferred leisure activity: suing Big Tech.
Yesterday, a group of state attorneys general led by Texas said they're taking legal action against Google for, you guessed it, engaging in anticompetitive practices.
- The suit claims that
Google is the Joey Chestnut to the digital advertising industry's plate
of hot dogs. It alleges Google’s size allows it to dominate the marketplace and get up to all sorts of antitrust-y shenanigans, like rigging ad auctions and artificially driving up prices.
Zoom out: If this feels like déjà sue, you’d be correct. The Justice Department has also filed a separate complaint
against Google for elbowing out search rivals and abusing its position
as “the gateway to the internet,” according to U.S. Deputy Attorney
General Jeffrey Rosen.
Bottom line:
Shares of Google’s parent company Alphabet—which indicate whether
investors think these allegations will actually threaten Google's
business prospects—were down less than 1% following the news.
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For the
first time in its history, Switzerland made someone angry. Yesterday,
the U.S. Treasury labeled the European country and Vietnam currency manipulators.
What is currency manipulation?
It’s when governments try to tilt the winds of trade in their favor by
illegally tinkering with their currency. By slapping the label on
Switzerland and Vietnam, the U.S. can apply a broad variety of
punishments, including tariffs—but they’ll try to talk out their
differences before it comes to that.
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The case of Vietnam: The U.S. thinks Vietnam’s currency, the dong, is undervalued, making its exports more attractive than American products.
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The case of Switzerland: The Swiss franc is considered a safe-haven for investors, so it tends to rise when economic conditions go south. But the Swiss government doesn't want it to rise too much.
Why it matters: Labeling countries as currency manipulators is rarer
than a Federer two-handed backhand, and it reflects the tougher trade
stance taken by the Trump administration toward both allies and rivals.
Expect incoming President-elect Joe Biden to adopt a softer tone.
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If you can
make IT decisions and your company has between 15 and 500 employees, we
have an offer for you that will be music to your ears.
Take a meeting with an Electric IT specialist to discuss how they can provide your organization with world-class tech support and they’ll give you a pair of Beats Solo3 Wireless headphones.
And when you
work with Electric, you’ll be able to enjoy those snazzy headphones
with peace of mind that your cyber needs are being cyber surpassed.
Electric provides:
- Lightning-fast support
- 70% reduction in IT spend
- Standardized security across devices, apps, and networks
- Freakin’ Beats Solo3 Wireless headphones!
As we
approach the end of the year, remember that your tech/IT budget probably
doesn’t roll over to next year, so use it or lose it people!
Set up a meeting with Electric today.
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Giphy
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Yesterday, Massachusetts securities regulators filed a complaint
against the popular stock trading platform Robinhood for prioritizing
“its revenue over the best interest of its customers,” according to
documents reviewed by the WSJ.
The deets:
Regulators argue that Robinhood exposes its customers to “unnecessary
trading risks.” Robinhood says its app has “opened up financial markets
for a new generation of people who were previously excluded.” They both
might be right.
- Robinhood’s
easy-to-navigate platform has attracted over 13 million insanely active
traders. In June, it processed 4.3 million daily average revenue trades,
more than every other brokerage combined.
But the
complaint from Massachusetts says that’s exactly the problem. It claims
that Robinhood gamifies trading in a way that “encourages customers to
use the platform constantly,” without properly conveying the risks
associated with betting your net worth on Virgin Galactic call
options.
Bottom line: Robinhood, currently valued at $12 billion, is reportedly eyeing an IPO in 2021. This MAction could be a sign of legal thumb wars to come.
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Balmuda
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You could definitely do worse than that sleek toaster from Japanese startup Balmuda, which went public on Tokyo’s Mothers exchange yesterday. Shares popped 88% thanks to a flood of enthusiasm from retail investors.
- Just like in the states, the number of individual investors in Japan has ballooned during the pandemic as people look for ways to fill time that aren’t sourdough or Netflix.
The backstory:
Balmuda is a small player that offers premium alternatives to the
products churned out by Japan’s consumer electronics giants such as
Toshiba and Panasonic. That sexy little oven above will set you back
$224, and Balmuda’s “The Gohan” rice cooker costs $400.
- The toaster isn’t just a pretty face—users have said
it heats snacks to crispy-on-the-outside, moist-on-the-inside
perfection. It comes with a little teaspoon of water, which helps seal
in moisture.
Bottom line: There wasn't a market for high-end toasters until Balmuda showed what was possible.
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Facebook launched a PR campaign attacking Apple over its planned privacy changes for iOS14.
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HBO Max will finally be live on Roku today after the two sides reached an agreement.
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Pinterest said it will adopt recommendations aimed at improving diversity, equity, and inclusion at the company.
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Luckin Coffee, a Chinese Starbucks competitor, will pay the SEC $180 million to settle an accounting probe.
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Aphria and Tilray are merging to form the world’s largest cannabis company by revenue.
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Sweetgreen is opening its first drive-thru store next year. We tried to slide a crouton pun in here, but it got kinda stale.
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One month. Over $2 million. Less than a month after Gatsby’s
online public offering, they’ve raised over $2 million in funding.
That’s because Gatsby is making it easier than ever to invest in the
growing options market. Don’t miss out, invest in Gatsby today.*
The whispers are true (and crystal clear). Bose QuietComfort® Earbuds let you feel your fave tunes and really connect
with the music you love. With sound crisper than fresh-baked holiday
cookies, you’ll hear every beat and instrument just like the artist
intended. Get your Bose earbuds here.*
Tech hot takes: Emerging Tech Brew asked experts to predict the top five trends of 2021. Did flying cars make the list? Find out here.
Dexter’s photography: See Nature’s best science photos of 2020, from microscopic solar cells to landscape-dominating volcanic lightning.
Last page first: If you want to avoid every piece of media where a dog dies or a spider appears, this site spoils TV and movies for whichever category you choose.
*This is sponsored advertising content
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Francis Scialabba
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The only
thing the Brew loves more than a cheeky headline is a good book to
cuddle up with after a long day of work. If you’re still looking for the
right read to gift your family, friends, or coworkers, Morning Brew
employees pulled together their best recs.
Find the perfect gift here.
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Yesterday,
we incorrectly wrote that if confirmed as Transportation Secretary, Pete
Buttigieg would become the first openly LGBTQ Cabinet secretary. He
would actually become the first LGBTQ person confirmed by the Senate
to a Cabinet-level position. Richard Grenell, President Trump’s former
acting director of national intelligence, was the first openly gay
leader of a Cabinet-level agency.
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If there’s
one thing we’ve learned from the newsletter biz it's that there are some
truly crazy news stories out there. We’ve assembled three of the
weirdest headlines we came across this week...but slipped in one we made
up to keep your B.S. sensors sharp. Can you spot the fake?
- “City of Paris is fined 90,000 Euros for naming too many women to senior positions”
- “Japan opens drive-thru strawberry picking as coronavirus continues to redefine norms”
- “‘Vaccine Santa Claus’ wanted by authorities after peddling fake peppermint-flavored vaccines to viewers on TikTok”
- “Man is jailed after taking jet ski across Irish Sea to see girlfriend”
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There's no such thing as vaccine Santa Claus.
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| ADVERTISEMENT |
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Has She No Shame? |
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Many
good people are angry - infuriated - that Kamala chose Monday to push
her radical, socialist agenda at the expense of dead children. Has she
no shame? >>>
CLICK HERE |
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Breaking News: Donald and Melania Trump Make Shocking Announcement Live Today
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Politicians And Sponsors Can't Believe This
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Health Care worker hospitalized after taking Pfizer’s COVID vaccine
China’s intervention in the 2020 Election demonstrated intelligence report
Seattle: The latest city turned into wasteland for going soft on drugs & crime
Obama’s career: The election fraud challenges that made it
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