Weekend Edition
Well, it has been over two months since our last Rink Rats.
Where has RR been? “I don’t know” (idk).
Seriously, for the last week I thought about what I have been
doing since April 30: a trip to Michigan, closing the academic year with
grades, recommendation letters, and the usual higher education
bureaucracy. Plus, a full summer session
online teaching schedule, why? idk
A trip to Vegas planned, cancelled, a trip to wine country
planned, cancelled. Why cancelled? idk
I have been placed on the DL (disabled list) with an injured
shoulder. How I injured it? idk
Naturally, I have been following the Stanley Cup Playoffs. The
Swami picked a Toronto vs. Colorado final – Why? idk Note: Tampa Bay won in
five games over Montreal. Montreal, how did the lowest team in the playoff
qualifying get to the finals? idk
The last two months I have been slowly coming out of the
pandemic mode: restaurants, no bars yet, one thing I forgot about due to the
pandemic and now remember, I am not a big fan of people. Why? idk
I have been following the antics of The Thing, why people
continue to pay attention to this creature? idk
So, we are back, did you miss us? idk
One thing I do know, I missed you all.
BEE BEST - Zaila Avant-garde, an
eight-grader from Louisiana, just became the first African American winner of
the Scripps National Spelling Bee. And for Zaila, spelling is a side gig. She
was already known for her hoops. "She currently holds three Guinness world
records for her basketball skills, including a record for most bounce juggles
in one minute with four basketballs." (Making her a promising
avant-Guard.) Not cool enough? Check out who she thanked after the victory.
"I'd like to say thank you to Bill Murray because the reason I knew that
word ‘murraya' was because of the movie Lost in Translation, which when I was a
little kid I used to listen to the soundtrack and so that's how that word was
stuck in my head because it was spelled like Bill Murray's name."
TWO WORLDS - On the same day the Tokyo
Olympics announced that venues will be empty, MLB announced that all 30
ballparks are now at 100% capacity.
This all feels very 2020, when the return of sports
necessitated extraordinary measures and the "bubble" concept was
born.
Those isolated environments were the only way forward last
year. But with cases falling and vaccines becoming available, empty venues have
mostly become a thing of the past.
And yet this month, the world's biggest sporting event will be
held in a bubble, in a country where just 15% of residents are fully
vaccinated.
While the Games may still end up captivating TV audiences, the
on-the-ground experience in Tokyo is going to be bizarre.
Athletes will be tested daily upon arrival and will be forced
to withdraw if they test positive once the Games are underway.
Most aren't in Tokyo yet, but at least three have already
tested positive and been put in isolation since getting there.
Organizers had an extra year to plan for the strangest
Olympics in history. But here we are, 14 days out, and they appear to be flying
by the seat of their pants.
MARKET WEEK - After a bumpy Thursday when
investors questioned economic growth prospects, stocks rebounded to close at
all-time highs. Biogen stock fell after the FDA’s acting head called for a
federal investigation into the controversial approval of the company’s
Alzhiemer’s drug.
Covid: The CDC released new guidance around school reopenings
this fall. It wants schools to stay open for in-person instruction and said
teachers and students who are vaccinated don’t need to wear masks or physically
distance.
Penalty: 15 US states
reached a deal with OxyContin-maker Purdue Pharma, bringing the big opioids
case closer to its anticipated $4.5B settlement.
Stable: Crypto firm Circle, which operates one of Earth's
largest dollar-pegged stablecoins, is going public at a $4.5B valuation.
Swiped: Wells Fargo is shutting down all personal credit lines
this month — customers weren't thrilled.
Freight: President Biden is expected to pass an exec order to
curb the dominance of companies in the ocean shipping and railroad industries.
IOU: Borrowing is back — Americans are signing up for credit
cards and car loans in record numbers.
Feature: How the Trump Presidency took a toll on Mark
Zuckerberg's and Sheryl Sandberg's partnership. Hint: it’s political.
Risk Free Interest Rate - The yield on the 10-year Treasury
note, which serves as a benchmark for interest rates across the US economy,
fell for an eighth straight day yesterday to below 1.3%—the lowest level since
February. Since bond prices and yields move in opposite directions, falling
yields signal higher demand for Treasuries.
At the most basic level, the 10-year yield is a key indicator
of investors’ confidence in future US economic growth. As the Delta variant
spreads and threatens to slow the economic recovery, the fall in yields means
investors are souring on a mega growth spurt and snapping up safer assets rather
than riskier stocks.
For months, the United States has been experiencing the
growing pains of an economy rebooting itself — surging economic activity, yes,
but also shortages, gummed-up supply networks and higher prices. Now, shifts in
financial markets point to a reversal of that economic narrative. Specifically,
the bond market has swung in ways that suggest that a period of slower growth
and more subdued inflation could lie ahead.
What does this mean for inflation? Because investors sell
bonds when they think inflation is coming, the runup in bond prices means the
worst of Wall Street's inflation concerns may be over. “It feels like we have
moved from thinking inflation will be transitory, to fearing growth will be
transitory,” Art Hogan, chief marketing strategist at National Securities,
said.
TAX MAN – Los Angeles Clippers owner
Steve Ballmer (Country Day ‘73) made news for two different reasons on
Thursday: Joining the $100 billion club, and paying lower tax rates than
Staples Center concessions workers.
$100B club: Due to a surge in tech stock prices, the former
Microsoft CEO is now one of just nine people in the $100 billion club and has
passed Mukesh Ambani, owner of the Mumbai Indians (cricket), as the world's
richest sports owner.
Tax investigation: A ProPublica investigation titled,
"The Billionaire Playbook," focused heavily on Ballmer and examined
how owners — legally — use their sports teams to avoid millions in taxes and
inform the IRS that they're losing money when, in fact, they're printing it.
BIRTHDAYS THIS WEEK –
Birthday wishes and thoughts this weekend to Larry David (74), Tom Hanks (65).
CHRONICLES OF HIGHER EDUCATION -
President Biden’s plan to make community colleges free for all students comes
at a critical time: The pandemic led to a steep decline in college enrollment,
particularly for low-income and minority students. And businesses have
struggled to fill vacancies, as the economy adds jobs at a rapid rate.
Proponents of the proposal, which would cost $109 billion over
10 years and is part of Mr. Biden’s American Families Plan, argue that
community colleges can help solve both of these problems while also boosting
local economies. In addition to paying for tuition, the plan would allocate
resources for community colleges to build programs that addressed skills
shortages. And a number of economic studies have suggested that increasing the
percentage of college graduates benefits everyone, not just the students who
received grants to go to college.
But, most Americans have doubts about the effectiveness of
community colleges, with only 12 percent believing community college degrees
prepare people “very well” for the work force, according to a 2019 Pew Research
Center survey. Mr. Biden’s plan, which if passed would be funded through tax
increases on the wealthy, faces resistance from Republican politicians who say
community colleges consistently underperform, with only about a third of
students graduating.
The debate is muddled by insufficient data. Few detailed
studies have looked at how community colleges affect students’ earnings in the
long term, and while 15 states have programs that offer tuition-free community
college to anyone, regardless of high school grades or income, most of these
programs are too new to have shown meaningful results.
Bruce Sacerdote, an economics professor at Dartmouth College,
said that while the Biden program would undoubtedly raise the number of college
graduates, more needed to be done to combat wealth inequality. “This thing is
not a silver bullet,” he said. “Every dollar you give to a university ought to
have a string attached to it,” he said, adding that too many schools are
educating students in areas where no jobs are available. “There are huge
amounts of money being committed without really strong evidence,”
ON THIS DATE – 1974, the first barcode
was scanned in an Ohio supermarket, a pack of gum.
LA COUPE STANLEY - Nearly a year after
being crowned kings of the bubble, the Lightning edged the Canadiens, 1-0, in
front of a capacity home crowd Wednesday night to win their second straight
Stanley Cup.
The Lightning are the ninth franchise to repeat as champions
and fifth non-Original Six team, joining the Flyers, Islanders, Oilers and
Penguins.
"It's like we won two completely different Stanley Cups,
and that's what makes it extremely special for us. You do one without fans and
then you do one in your own building. We couldn't have written the script any
better."
— Coach Jon Cooper
Dynasty, confirmed: The Lightning have 70 playoff wins since
their 2015 run to the Final (lost to the Blackhawks). That's 28 more than any
other team — and an average of 10 wins per postseason.
Champa Bay: Prior to 2020, the Lightning, Buccaneers and Rays
had a combined four championship series appearances and two titles. In the last
two years alone, they have four appearances and three titles.
Utter domination: Over the past two postseasons, Tampa Bay had
a +50 goal differential and never lost two games in a row.
Three-Pat: Pat Maroon, who won the 2019 title with the Blues
before moving to the Lightning, is the first player to win three straight
Stanley Cups since multiple players did so with the 1980s Islanders.
Playoff MVP: Lightning goalie Andrei Vasilevskiy won the Conn
Smythe Trophy (playoff MVP) and had a series-ending shutout for an NHL-record
fifth consecutive time dating back to the 2020 final.
End of an era ... Wednesday's game was NBC's last NHL
broadcast for at least seven years. ESPN and TNT, the ice is yours.
WEEKEND SPORTS - The marketing folks at
ESPN are calling this the “Weekend of Champions,” and they’re not wrong. Sports
fans will be treated to the Wimbledon finals, Argentina vs. Brazil in the Copa
América final, England vs. Italy in the Euro final, an NBA Finals game, and the
rubber match of Conor McGregor vs. Dustin Poirier at UFC 264.
Lots to watch this weekend, especially for soccer fans. Some
highlights...
⚽️ Euro
final: England hosts Italy at Wembley Stadium on Sunday (3pm ET) in one of the
biggest European soccer matches in years. A petition for a national holiday if
England wins already has over 300,000 signatures. The SWAMI has Italy winning
2-1.
🎾
Wimbledon: The women’s final is today, the SWAMI picks Ash Barty, the men’s
final is Sunday, who else, the SWAMI picks Novak Djokovic
⚽️ Copa
América final: Brazil vs. Argentina. Neymar vs. Messi. There's a case to be
made that this is an even bigger game than the Euro final. Kickoff: 8pm ET,
Saturday. The SWAMI likes Brazil, 3-2.
🏀 NBA
Finals, Game 3: The series heads to Milwaukee's Fiserv Forum, where the Bucks are
7-1 this postseason. The SWAMI has the Suns in six.
⚽️ Gold
Cup: CONCACAF's continental contest begins Saturday. The U.S. kicks off Sunday
alongside Canada, Martinique and Haiti in Group B, while tournament favorite
Mexico is in Group A alongside El Salvador, Curaçao and Trinidad and Tobago.
The SWAMI likes Mexico to win it all.
🥊
McGregor-Poirier 3: Las Vegas hosts one of the biggest fights of the year on
Saturday night, with Conor McGregor and Dustin Poirier meeting in a rubber
match in the lightweight main event of UFC 264. The SWAMI picks…idk
⚾️ 2021
MLB All-Star game is Tuesday July 13, the SWAMI likes Shohei Ohtani in the home
run derby and to win the game American or National, idk
CONGRATS – I know this is late, but
congratulations to all the recent graduates. It has been an interesting two
years. In fact, in the months of May/June I went to ten graduations, or was it
nine? For the same institution.
A special congrats to my niece Maria S. Who graduated top in
her class, Maria will be studying environmental engineering this fall at, get
this, Clarkson University, Potsdam, New York. Her Uncle Buck will not be
visiting the Clarkson campus, due to personal history (I have a police record
in Potsdam). 😊
BREAKING NEWS – A possible St. Lawrence
football/hockey reunion is coming this October 15-17; get your vaccinations,
your parole reports, and your thirst. Stay tuned for details.
Next Blog: “But It’s a Dry Heat”
Until Monday July 19, 2021, Adios.
Claremont, California
July 10, 2021
#XII-1-438
2,309 words, four-minute read.
CARTOON OF THE WEEKEND – The
Real Real Estate Market
RINK RATS WEEKEND POLL – Over
or under?
____ over
____ under
QUOTE OF THE WEEKEND: “The
more educated someone is, the less likely it usually is for them to say that
they do not know, when they do not know.”
― Mokokoma Mokhonoana
Rink Rats is a blog of weekly observations,
predictions and commentary. We welcome your comments and questions. Also
participate in our monthly poll. Rink Rats is now viewed in Europe, Canada,
South America and the United States.
Posted
at Rink Rats The Blog: First Published – May 3, 2010
Our
Eleventh Year.
www.rhasserinkrats.blogspot.com
