Later

Evidently, we're (me 0) worth $16-per-month to Facebook (AKA the plague on humanity), double 'our' value of 2017.

And the HUI (Gold Bug Index) is struggling..

 Wondering if the FXI (China ETF) is working on a double top?

 

Quick Overview is up to date

Later

 Notes Today:

• Three FDA advisory panel members have quit in protest over the approval of Biogen’s Alzheimer drug, with one saying it was “probably the worst drug approval decision in recent U.S. history.” (Monthly chart)

• Economist: More evidence is emerging of India’s true death toll from covid-19. The official number of covid-19 fatalities is currently just over 355,000 but various analyses of excess mortality from different parts of India suggest a true toll of between 1.8m and 2.4m since the start of the pandemic.

• Drewry’s composite World Container index increased 4.1% or $263 to $6,726.87 per 40ft container.
  
  
  

• China's Containerized Freight Index (CCFI) is also moving right along.

• 

• Bloomberg: This week brought some more news that no one thought would be possible during a pandemic, which is that U.S. household net worth ballooned by $25.6 trillion in the 12 months ended March 31, bringing the total to $136.9 trillion. To put the rise in perspective, consider that the average annual increase in the 10 years through 2019 was a measly $5.35 trillion.

• Reuters: Switzerland could become the first European country to ban artificial pesticides in a June 13 referendum which backers of the initiative hope will trigger similar prohibitions elsewhere.

 

Quick Overview is up to date

Notes Today: 

• Single-family housing in the U.S. has been exuberant, but it’s vulnerable and the bubble is starting to leak. 

• FT: Free movement has now come to an end for those of us from the UK. (Brexit consequences) 

• In May, the CPI rose 0.6 % (seasonally adjusted), rising 5.0 % over the last 12 months (not seasonally adjusted). The index for all items less food and energy increased 0.7 % in May (SA); up 3.8 % over the year (NSA). 

• 
  254 mass shootings in the US so far this year. 

• Biogen’s decision to price its Alzheimer’s treatment (results uncertain) at $56,000-a-year has reignited the debate over the cost of drugs. 

• A new Nevada law will outlaw about 40% of the grass in the Las Vegas area in an effort to conserve water amid a drought that is drying up the region’s primary water source.

 Quick Overview is up to date

Notes today: 

• Amazon last year, for tax year 2019, they paid 1.2% on 13 billion in U.S. profits, ( a 3 year high) while the average American paid 14%.

Robert Reich: Call me a radical lefty, but if Amazon's market capitalization exceeds Australia’s GDP, it's probably time for the company to pay more in taxes. 

• The G7 group have signed a deal to tackle tax abuses by some of the world’s biggest multinationals and establish a minimum (15%) global corporation tax for the first time. 

• Facebook (AKA the plague on humanity) has supposedly banned Trump for 2 years. 

• Putin REFUSES to rule out hijacking passenger flight from London and forcing it to land in Moscow. 

• A San Diego Federal Judge appointed by Bush overturned a California ban on assault weapons and compares AR-15’s to Swiss Army knives.
• Lots of mass killings  by Swiss army knifes – especially in Switzerland. 

• Get a covid shot In West Virginia and you could win hunting rifles or shotguns.

• 
  
  TikTok has changed its privacy policy allowing it to collect biometric data on U.S. users, including "faceprints and voiceprints."

 

 

The Republican governor of Utah has invited residents of his state to join him in a “weekend of prayer” for rain, to combat a drought emergency. 

The drought, now entering its 22nd year, has resulted in the water levels at Lake Mead dropping from an elevation of more than 1,210 feet at the start of 2000 down to about 1,080 feet right now.

Meme trading: in case you are curious regarding reddit's wallstreetbets   and the meme frenzy, here are a couple of links that simplify things.

WSB's Hottest Meme Stocks

Hyped / Trending Stocks