Since our last blog (June 13) things have changed.
SCOTUS OVERTURNS ROE v. WADE - The
constitutional right to an abortion in the US has been eliminated after nearly
50 years.
Friday, the conservative-majority Supreme Court overturned Roe
v. Wade, a ruling that strikes down federal protections for abortion and punts
abortion regulation to the states.
This ruling is unprecedented: The Supreme Court in history has
never before granted a widely recognized constitutional right and then taken it
back. This is historic in many ways.
We knew it was coming. Last month, a draft of the opinion was
leaked to Politico, which caused shockwaves when it was published. The official
opinion stayed close to the draft—in it, Justice Samuel Alito, writing for the
majority, claimed that, “The Constitution makes no reference to abortion, and
no such right is implicitly protected by any constitutional provision.”
Writing in dissent, the three liberal justices bashed the
majority opinion. “Women have relied on Roe and Casey in this way for 50 years.
Many have never known anything else. When Roe and Casey disappear, the loss of
power, control, and dignity will be immense,” they wrote. “Casey” refers to a
1992 case in which the Supreme Court upheld Roe’s protections. That was also
overturned yesterday.
The Supreme Court’s scrapping of Roe contrasts with the
public’s view. Prior to the ruling, a majority of Americans (ranging between
60%–70% in two recent polls) said they didn’t want Roe v. Wade to be
overturned. At the same time, less than 30% of Americans think that abortion
should “generally be legal” after the first trimester, according to Gallup.
Abortion advocates say the overturning of Roe amounts to a
radical assault on reproductive rights that sends the country backward.
National Nurses United, the country’s largest nurses’ union,
said that abortions, a “vital medical necessity,” will still continue post-Roe,
but will move underground, where they’ll be “more expensive, harder to access,
and in many cases unsafe.”
Following the leaked opinion last month, Treasury Secretary
Janet Yellen told lawmakers that overturning Roe “would have very damaging
effects on the economy and would set women back decades.”
On the political front, many Republicans cheered the move,
applauding former President Trump for appointing three conservative justices
that pushed the court far to the right. Democrats are vowing to make it a top
issue for the upcoming midterm elections. “This fall, Roe is on the ballot,”
President Biden said, calling it a “sad day for the court and for the country.”
Here’s what the abortion landscape looks like now:
Abortions were banned in eight states yesterday, including
Arkansas, Louisiana, and Missouri, and were already prohibited in Oklahoma.
Several more have similar “trigger laws” in place that will
ban all or most abortions within the coming days and weeks.
Altogether, abortion is likely to become totally illegal or
severely restricted in at least 20 states and has an uncertain future in an
additional nine.
In response to the court’s ruling, abortion clinics closed,
and Planned Parenthood locations canceled abortion appointments in Texas,
Wisconsin, and other states that have already outlawed or are likely to outlaw
abortion.
On the other hand, abortion rights are likely to remain
protected in 21 states, 11 of which are actively expanding the scope of access
by, for instance, making appointments easier to schedule and more affordable.
Several states, including California and New York, aim to become safe havens;
NYC Mayor Eric Adams tweeted, “To those seeking abortions around the country:
you are welcome here” with a photo of the Statue of Liberty.
People in states with restricted abortion access will still
have two legal avenues to receive abortions. US Attorney General Merrick
Garland said yesterday that the Justice Department will protect the right to
travel out of state for appointments and that the abortion pill mifepristone
cannot be banned by states since it’s FDA-approved.
GUN RIGHTS - Within a span of 12 hours this
past Thursday, US government institutions located less than .5 miles from each
other charted completely different paths on gun rights at a time when the
country is reeling from a wave of mass shootings.
Let’s start with the Supreme Court
Thursday morning, it struck down a New York law that requires
people to demonstrate a specific need in order to carry a concealed weapon. The
decision means that more Americans will have the right to carry weapons in
public, particularly in major cities.
It’s the Supreme Court’s first big gun rights opinion in more
than a decade. In two decisions in 2008 and 2010, it guaranteed the right of
individuals to keep handguns in their homes.
How the vote went down: In a phrase that’s become almost
cliche at this point, the case was decided in a 6–3 opinion, with the
conservatives in the majority.
Writing for the majority, Justice Clarence Thomas argued that
the Second Amendment shouldn’t be held to a different standard than any other
in the Bill of Rights.
Writing in dissent, Justice Stephen Breyer noted that 45,222
Americans were killed by firearms in 2020, and this ruling makes it harder for
states to keep citizens safer by restricting access to guns for some people.
At least five other states—California, New Jersey, Maryland,
Hawaii, and Massachusetts—have laws similar to New York’s. This ruling opens
the floodgates for legal challenges to those regulations.
But later that night on Capitol Hill…
The Senate approved gun safety legislation by a count of
65–33, with 15 Republicans voting in support. It’s a huge breakthrough,
representing the most significant gun reform action at the federal level in
almost three decades.
What’s in the bill? Enhanced background checks for young gun
buyers, funding for school safety and mental health, and incentives for states
to enact red flag laws.
The bill will head to the House today, where it’s expected to
pass easily.
THE THING – He continues to haunt
American democracy, he continues to lie, he continues to degrade fellow
citizens who do not support his propaganda. The January 6 hearings have proven
to all, The Thing presents a clear and present danger to our Republic.
This week’s hearings showed us that The Thing acted as
if he thought he was a king, not a president subject to the same rules as the
rest of us. The hearings featured extraordinary testimony about the relentless
pressure to subvert the 2020 election that the former president and his allies
brought against at least 31 state and local officials in states he lost, like
Michigan, Arizona, Georgia and Pennsylvania. He or his allies twisted the arm
of everyone from top personnel at the U.S. Department of Justice to lower-level
election workers.
The evidence and the testimony offered demonstrate why
Attorney General Merrick Garland’s Justice Department should convene a grand
jury now, if it hasn’t already, to consider indicting The Thing for
crimes related to his attempt to overturn the results of the election, before
he declares his candidacy for president in 2024, perhaps as early as this
summer.
The testimony from the hearings reveals a coordinated and
extensive plot to overturn the will of the people and install The Thing
as president despite Joe Biden winning the election by 74 Electoral College
votes (not to mention a margin of about seven million in the popular vote).
There was political pressure, and sometimes threats of violence, across the
board. The Thing and his cronies hounded poll workers and election
officials to admit to nonexistent fraud or to recount votes and change vote
totals.
Wandrea Moss, known as Shaye, a former Georgia election
worker, testified Tuesday about the harassment and violent threats she faced
after The Thing allies accused her and her mother of election fraud. As
The Associated Press reported, one of The Thing’s lawyers, Mr. Giuliani,
pointed to surveillance video of the two women working on ballot counting and
“said the footage showed the women ‘surreptitiously passing around USB ports as
if they are vials of heroin or cocaine.’” The “USB ports” turned out to be
ginger mints.
It is no wonder that election workers and election officials
are leaving their offices in fear of violence and harassment.
What The Thing did in its totality and in many individual
instances was criminal. If Mr. Garland fails to act, it will only embolden The
Thing or someone like him to try again if he loses, this time aided by a
brainwashed and cowed army of elected and election officials who stand ready to
steal the election next time.
The Thing was the 45th president, not the
first American king, but if we don’t deter conduct like this, the next head of
state may come closer to claiming the kind of absolute power that is
antithetical to everything the United States stands for.
BAD TEAMS – Major league baseball is
becoming non-watchable. There are at least six bad teams in baseball, my
Detroit Tigers are one. Cincinnati, Washington, and Chicago in the National
league, Oakland, Kansas City and Detroit in the American league, are all
unwatchable. I could include Seattle, Baltimore, Los Angeles Angels,
Pittsburgh, Colorado, and Arizona as border line but for the sake of the game
they have a chance.
Why unwatchable? One word greed. Like the rest of our world,
the haves and the have nots and no one to properly control the game.
What has happened to leadership in this country? The state of
baseball is another example of clueless, short sighted, no guts leadership. Let
us hope our Gen Z (1997 – present) citizens can deal with this. We certainly
cannot.
ALL IS NOT LOST - It could have been even
better, but let's pause and consider the fact that nearly 20 million lives were
saved by COVID-19 vaccines during their first year.
+ Congress just passed the first major federal gun safety
legislation in decades.
+ "The upcoming iOS 16 will help battle the growing
problem of spam text messages. The latest beta includes the ability to report
SMS messages as 'junk' to the user's wireless carrier." More than half of
my messages are spam. The other half are donation requests from politicians.
+ The World's Fastest Electric Ferries are Coming to
Stockholm.
+ Spray-on plant coating could replace wasteful plastic food
wrap. And this: Ontario grower is fixing the 'most complained about' produce
item: plastic-wrapped cucumbers.
+ The world's lowest parachute jump attempt.
+ Lol, jaja, xaxa, and all the other ways people laugh around
the world. (With you, not at you.)
+ An Indian man has gone viral for his creation of a
solar-powered car, a solo project 11 years in the making. (Maybe this guy can
buy Twitter...)
+ Finally, my golf index has not been this low in fifteen
years (11.7).
Well, I tried.
BIRTHDAYS THIS WEEK –
Birthday wishes and thoughts this week to Paul McCartney (80), Carly Simon
(77), Brian Wilson (80).
MARKET WEEK - The S&P 500 fell into
official bear-market territory, the week of June 13.
Bear markets aren't great predictors of economic downturns.
But the plunge is yet another indicator the economy is likely to slow fast over
the next year.
Other major reasons to worry about a downturn:
Soaring energy costs: Energy shocks have preceded 10 of the
last 11 recessions.
Fed tightening: The Fed has embarked on a project of raising
interest rates — pushing the brakes on the economy — in order to rein in
inflation.
Strong dollar: A strong dollar can act as a headwind on the
economy, by making our exports too expensive for foreign buyers and hurting
manufacturing.
We have officially hit a bear market in the S&P 500 Index.
As of last week’s close, the S&P 500 total return is down -21.3% from its
highs at the start of this year, breaching the down -20% mark.
How’d we get here? Two words, in our view: stimulus and
expectations.
Soon after Covid hit and the world stopped, the Fed jumped in
to stabilize the foundation of our financial system (the bond market) with
$4.5T of security purchases. It was followed by an additional $3.6T of US
government money, first to businesses and then to the consumer directly through
extra unemployment benefits, child-tax-credit payments, and checks in the mail.
Today, we find ourselves in a place where all that helpful
stimulus money is unwinding. Since the start of the year, the market has been
trying to find the correct expectations of the future.
So, while the ignition for this drop was Friday’s inflation
report (+8.6% year over year for May), the greater driving factor is still a
question centered on valuations.
The inflation report was a little higher than officially
expected (by 0.3%), and with the benefit of near-term hindsight, it seems that
unspoken expectations were for inflation to come in lower. So anything at the
same level, or even mildly higher, was going to set off the stock market drop
we got last week, following through to Friday.
The greater reference to valuation — the value the market
agrees to pay today for a company’s future earnings — is that it’s trying to
find what businesses should be worth in the future, knowing that the stimulus
is gone, and inflation is here.
In terms of numbers, the 12-month forward price-to-earnings
ratio (P/E) for the S&P 500 Index is now about 16.5x, down from a peak of
23x last year. In a historical context, this is in line to above some of the
historical averages: 10-year (16.9), 20-year (15.5), and 25-year (16.5).
So far, all of the fall in valuations this year have come from
the drop in the “P” (prices), versus a fall in earnings expectations — the “E.”
That’s because earnings estimate for this year and next are still at record
highs.
Will the market continue to fall?
Anything is possible. Looking back to 1945, when bear markets
occurred, 70% of the time they related to a recession, and the average return
during a recession was -30%.
From here, further drops in the market depend more greatly on
the “E,” as expectations for the next 12 months and for 2023 are high and
likely need to come down. For context, aggregate earnings for the S&P 500
Index are expected to be +10% higher for each of the next two years. That seems
inconsistent with rising costs and the related expectation of slowing growth.
As a result, it’s reasonable that earnings may actually be lower than current
expectations by 5%. Assuming this is about right, in our analysis, it could
mean market levels would look closer to fair value if down further, by
mid-single digits. Thus, the S&P 500 would come close to 30% down for the
year, and in line with the average for a recession.
Will we have a recession?
It’s very possible — led by reassessment of corporate earnings
while they cut their costs from higher expenses and softer demand. If that’s
right, we are about two-thirds of the way through the market downturn (closer
to the bottom than the top).
Could we be wrong about this? (Yes — and we sort of hope we
are, to the upside.)
Evidence of better earnings growing, a quicker cooling of
inflation than expected, and even ancillary events such as a true shift in
Covid policy from China or a ceasefire in Russia’s war on Ukraine, can quickly
shift expectations positively.
What does this mean for investors?
Diversification is often the answer to a lot of investing
questions. It’s never a bad time to review your positions and your plan (or
make one). When looking through your portfolio, consider the balance of
holdings — higher-quality or lower-valued areas such as dividend stocks, and
those in energy and healthcare can be attractive to some investors and can
serve as a balance for riskier growth companies that may take longer than
average to recover. In addition, depending on your personal situation and
investing style, keeping funds available for a “dip buy” may also be prudent.
Volatility is higher these days but try not to let it trigger
an investment reaction. Staying the course may be the right decision as equity
markets have historically provided positive returns over the long term*.
*S&P 500 Total Returns:
10 years ending May 2022 14.37%
20 years ending May 2022 9.13%
30 years ending May 2022 10.10%
Rink Rats portfolio is down 12.51% for the last year.
MARKETS: YEAR-TO-DATE
Nasdaq 11,607.62 -25.81%
S&P 3,911.74 -17.93%
Dow 31,500.68 -13.31%
10-Year Treasury Yield 3.136% +162.2 bps
Bitcoin $21,021.95 -54.60%
Oil $108.16 +43.82%
CHRONICLES OF HIGHER EDUCATION – The
ongoing enrollment crisis at U.S. colleges and universities deepened in spring
2022, raising concerns that a fundamental shift is taking place in attitudes
toward the value of a college degree — even as the coronavirus pandemic has
disrupted operations for higher education.
The latest college enrollment figures released on Thursday by
the National Student Clearinghouse Research Center indicated that 662,000 fewer
students enrolled in undergraduate programs in spring 2022 than a year earlier,
a decline of 4.7 percent. Graduate and professional student enrollment, which
had been a bright spot during the pandemic, also declined 1 percent from last
year.
Doug Shapiro, the center’s executive director, noted small
gains in first-year, first-time students. However, he suggested that the
numbers and the breadth of the declines indicate an underlying change, as
students question whether college is the ticket to the middle class and a
good-paying job.
Prospective college students may be weighing the relative
value of jobs that require or expect a college degree against equally
attractive opportunities that do not.
Overall, total undergraduate enrollment has dropped by nearly
1.4 million — or 9.4 percent — during the pandemic. When the pandemic emerged
in spring 2020, many colleges moved to online instruction, and some students
did not report to campus at all, changes that considerably altered the
traditional college experience.
Even before the pandemic, though, college enrollment had been
dropping nationally, with institutions of higher learning buffeted by
demographic changes, as the number of college-age students leveled off, as well
as questions about student debt. A highly polarizing immigration debate also
drove away international students.
While elite colleges and universities have continued to
attract an overflow of applicants, the pandemic has been devastating for many
public universities, particularly community colleges, and tuition driven
private universities, which serve many low- and moderate-income students.
Declines occurred generally across the country but were
slightly more pronounced in the Midwest and Northeast.
How have universities changed their strategies due to the
pandemic? By following the money: federal higher education recovery funds,
private grants, more student debt, and cow tying to donors for funding of their
agendas.
Here are five of the permanent changes to higher education
because of the pandemic:
1). Testing will remain optional - Eliminating standardized
testing increases the probability that the student population will be more
diverse.
2). Online and hybrid learning will continue - One of the
oldest challenges in higher education has been ever-increasing tuition costs.
With universities already having been forced into shifting many classes online,
there’s a very real possibility of fewer international students absorbing the
expense of attending in person in the future. While online classes do not
optimize the college experience for students—“Zoom university isn’t proper
online learning,” said Sanjay Sarma, MIT’s vice-president for open learning,
who emphasizes that learning must be a two-way endeavor—the fact that it had to
happen at all and is continuing indicates that it isn’t going away.
3). Mastery of education technology - After the initial shock
of being thrown into online learning by students and online instruction by
teachers wore off, universal acceptance of technology as a permanent part of
higher education became necessary. Over the past year and a half, it has
evolved, and it will continue to do so—and mastery of learning management
systems (Blackboard, Brightspace, Google Education and others) and distance
learning software (Zoom, Adobe Connect, Teams, et al) became mandatory.
Professional development going forward will include mastery of new technology
by both faculty and students as it is developed and released in order to optimize
efficiency and performance.
4). Value will have to be demonstrated - Colleges and
universities will have to be more reflective about the value they offer in
exchange for ever-rising tuition costs and whether families will be willing to
pay for that perceived value, particularly with so much of the experience being
online. By extension, going forward, both parents and students will want to
know how successful the university is at launching graduates into prosperous
careers—in other words, the questions will become harder and the “tires kicked
more” before commitments to attend are made.
5). Elite colleges and universities will no longer be
considered the gold standard - Poor records of admitting minorities and poor
students and a lack of commitment to growing enrollments in non-traditional
ways are expected to cause many universities once considered the crème de la
crème of higher learning to be pushed further down the list of most-coveted to
attend. Instead, public flagships and up-and-coming private schools that are
more innovative, cost-effective, and student- and employer-centric will be more
attractive.
TITLE IX - It took just 37 words to
change the course of education for millions of women and girls in the United
States. Yet the succinct language in Title IX, the landmark education law that
was signed in 1972, has origins in even fewer characters.
“You come on too strong for a woman.”
That was what Dr. Bernice Sandler was told in 1969 when she
applied for a permanent position at the University of Maryland, where she was
already an adjunct professor. Three years later — after a class-action lawsuit
on behalf of women in higher education and the sly maneuvering of a handful of
lawmakers — women were given a means to ensure equal access to education for
the first time in American history.
For its sweeping repercussions, Title IX passed with little
fanfare, a notable whisper nestled between two other landmark provisions meant
to bestow rights to women within a 12-month period: The Equal Rights Amendment
and Roe v. Wade. Fifty years later, only one of the three remains standing.
The Equal Rights Amendment, which proposed an explicit
guarantee for equal protection for women in the U.S. Constitution, was first
proposed in 1923 and approved by the Senate on March 22, 1972. But not enough
states ratified it within a 10-year deadline for it to be added.
Title IX was signed by President Richard M. Nixon on June 23,
1972.
Roe v. Wade, the Supreme Court decision that legalized
abortion in the United States, was announced on Jan. 22, 1973. But the Supreme
Court overturned that on Friday, eliminating the constitutional right to
abortion after almost 50 years.
So, what has made Title IX so durable? An act of Congress and
broad public support, for starters. But even though Title IX was intended to
equalize college admissions, perhaps its most visible achievement has been the
inclusion of women in interscholastic sports, leading to an explosion in
numerous youth sports for girls.
The Equal Rights Amendment, Roe v. Wade and Title IX are all
linked by their attempts to target gendered inequality in American society, but
they differ in how they used law and policy to enact change.
The Equal Rights Amendment was an attempt to amend the
Constitution, a process that is intended to be very difficult. Yet had it been
ratified, it would have been far more
sweeping than any other single policy.
Roe v. Wade, conversely, was an interpretation of
constitutional law, as a decision by the Supreme Court. It was overturned
Friday with a 6-3 ruling.
DRIVING THE WEEK - All eyes are on the
Fed, inflation, and the consumer.
While the Chairman Powell has been consistent in his stance
the past several days testifying before the House and Senate Banking
Committees, we will continue to hear from Powell and other Fed members the next
several days in various forums.
Macro data continues to pour in on housing and consumer
sentiment, but on a micro level we get a look at some consumer goods companies
and what they are seeing in terms of demand.
An even closer look at supply chains and inflation, Micron
Technology, Inc. reporting earnings on Thursday should help clarify the state
of semiconductors and chip makers after what has been a volatile year for the
sector and those they supply.
Tuesday … Economic Policy Institute virtual discussion on the
“The Economics of Abortion” Tuesday … House Financial Services oversight
subcommittee hearing on the housing market and private equity Tuesday …
Final first-quarter GDP data released Wednesday … Fed Chair
Jerome Powell participates in a discussion with global central bankers at the
European Central Bank Forum in Sintra, Portugal, Wednesday … House Financial
Services hearing on long-term impacts of the hot housing market Wednesday.
Personal consumption and inflation date released Thursday. California increases
gas tax from 51.1 to 53.9 cents per gallon Friday.
Airlines scramble ahead of July Fourth: With the upcoming
weekend expected to be the busiest for airports since the Covid pandemic began,
airlines are working to limit the flight delays and cancellations that have
clogged their customer services lines so far this summer. Simply nixing flights
has become a popular strategy: US airlines have slashed their June–August
schedules by 15% compared to their OG plans, according to Airlines for America.
Economy: Several retailers (Nike, Bed Bath & Beyond) will
report earnings, and an inflation measure closely watched by the Fed drops on
Thursday.
Wimbledon starts, with geopolitical undertones: The
fancy-pants tennis tournament kicks off today on the London grass. Serena
Williams will return to singles competition after a yearlong absence, but no
players from Russia or Belarus (including men’s No. 1 Daniil Medvedev) will be
playing—they were barred from competition over the war in Ukraine.
Everything else:
Ghislaine Maxwell is scheduled to be sentenced tomorrow after
being convicted of a sex-trafficking scheme with former BF Jeffrey Epstein.
Canada Day is July 1 (Friday).
The Tour de France also starts on Friday.
Most Americans — anyone who wasn't an adult by the '70s — are
getting a first taste of living with high inflation.
Prices are up for most of our favorite summer things:
Flying on a plane.
Sending kids to camp.
Booking a hotel room.
Lighting fireworks.
Renting a car.
Buying food for backyard barbecues.
The Consumer Price Index shows average prices rose 8.6% over
the past year — a level last seen in the 1970s, an era known for such
mood-dulling terms as stagflation and malaise.
Reality check: The unemployment rate is a low 3.6%. And
Americans are doing substantially better than people in many corners of the
world.
🕶️ The
bright side: People who are already frugal (because of the pandemic) are
certainly having a moment.
And you could spend your summer sipping AriZona iced tea and
eating Costco rotisserie chicken and hot-dog combos — products with famously
stable prices.
ASK RINK RATS – some questions from our
readers.
What’s the best advice you ever received?
“Never forget that the toes you step on today may
be connected to the ass you have to kiss tomorrow.”
What fictional person do you wish were real?
Atticus Finch.
What real person do you wish were fictional?
The Thing
If you were given a billboard in Times Square,
what would you put on it?
“Keep calm and carry on.”
STANLEY CUP CHAMPS – The
Tampa Bay Lightning’s reign at the top of the National Hockey League is over
and a new one may well be starting, as the Colorado Avalanche became the 2022
Stanley Cup champions.
The Avalanche dispatched the two-time defending champions 2-1
on the road to win the series in six games.
Note: The Swami did predict the Avs to win at the beginning of
the playoff season. Though their opponent was to be the Florida Panthers.
The Avs won 72 games this season, tying the 1976-77 Canadiens,
1983-84 Oilers and 1995-96 Red Wings for the most in NHL history. They are,
quite simply, one of the best teams ever.
Season: 56-19-7
Playoffs: 16-4
Colorado dominated at times during these playoffs but also
notched 10 come-from-behind wins, tying the 2009 Penguins for the most in a
single postseason.
They're the fourth team in NHL history to post all four
series-clinching wins on the road.
Now, they'll make up for those missed celebrations with the
biggest party Denver can muster.
Cale Makar is the first player to ever win the Hobey Baker
Award (best college player), Calder Trophy (Rookie of the Year), Norris Trophy
(top defenseman), Conn Smythe Trophy (MVP of the playoffs) and a Stanley Cup.
And he's only 23 years old.
One thing negative from the NHL playoffs, the performance of
ESPN broadcasting the games. Time to steal a quality announcer from Canada, a football
announcer does not cut it. Mark Messier and Chris Chelios do not cut it as
well. ESPN has a quality off ice announcer in Leah Hextall in their employ, use
her. The reporter they have now is weak. In the U.S. TNT has a better
broadcast.
Clean this up over the summer ESPN.
The Swami Season to Date (14 - 9)
Next Blog: Summer holiday edition.
Until July 1, 2022, Adios.
Claremont, California
June 27, 2022
#XIII-4-450
4,980 words, eight-minute read
CARTOON OF THE WEEK –
Drabble by Kevin Fagan
RINK RATS POLL - Do you think pineapple belongs on a pizza?
____ Yes
____ No
QUOTE OF THE WEEK – “I
ask no favor for my sex. All I ask of our brethren is that they take their feet
off our necks.” – Ruth Bader Ginsburg
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 Thirteenth Year.
www.rhasserinkrats.blogspot.com
