Newsletter Oct 19, 2021

The death of the first Black Joint Chief of Staff and Secretary of State Colin Powell leaves the nation mourning the loss of a true American patriot.

3 things you must know

America loses a true patriot with the passing of Colin Powell
Americans awoke Monday to the news that Colin Powell, a true hero and patriot, had died at the age of 84. Dedicating the vast majority of his extraordinary life to service of his country in a number of roles, Powell's death marks the end of his unique "American Journey" -- the title of his autobiography that chronicles his path from a child of Jamaican immigrants to the top ranks of the military and government.
U.S. presidents and generals are offering glowing eulogies of the former Joint Chief of Staff and Secretary of State, but our favorite quote from Powell's book sums up his can-do attitude: â€œIf you get the dirty end of the stick, sharpen it and turn it into a useful tool.â€ All politics aside, it serves as a valuable lesson for a divided nation going through difficult times to pull together and make the most of it.
READ ABOUT POWELL'S AMAZING IMPACT ON HIS COUNTRY

Industrial output falls 1.3% in September due to many factors
The ongoing supply chain problems -- both globally and nationally -- are the easiest culprit to point the finger at for the latest figures showing a slowing of U.S. industrial output. But there's more at play in the 1.3% drop than the logjam of unloaded shipping containers.
In addition to the backlog of goods and production materials, factors like COVID-19 and Hurricane Ida also had impacts on industrial output. Logistical issues beyond the ports are making it harder for manufacturers to produce and deliver goods, and labor shortages are plaguing virtually all aspects of the economy like a perfect storm.
WHAT IS BEING DONE TO FREE UP SUPPLY CHAIN SNARLS?

Rich get richer at record level in stock market during pandemic
Sorry to sound like a Bernie Sanders' rant, but it turns out that his talk about the rich getting richer during the COVID pandemic is right. The Fed's data reveals that the wealthiest 10% of Americans now own nearly 90% of all the stock -- a new high for economic disparity.
And the gap grows even wider the higher up the wealth food chain. Of the $7.7 trillion in gains during the pandemic, the top 1% earned $6.5 trillion in corporate equities and mutual wealth funds while everyone else in the market accounted for only $1.2 trillion in gains.
FIND OUT WHY ALL OFF THE GAINS ARE GOING TO THE RICH

Markets

DJIA	35,258.61	-0.10%
S&P 500	4,486.46	0.34%
Nasdaq Composite	15,021.81	0.84%
Japan: Nikkei 225	29,256.58	0.80%
UK: FTSE 100	7,203.83	-0.42%
Crude Oil Futures	82.47	0.04%
Gold Futures	1,775.30	0.54%
Yen	114.11	-0.18%
Euro	1.17	0.34%
* As of market close

Report of China's nuke test has US on alert

A National Nuclear Security Administration report earlier this month estimated that the U.S. possesses more than 10 times the number of nuclear warheads than China. But as a more recent report about China testing of a hypersonic missile delivery system cautions, it's not the quantity of one's nuclear arsenal that counts as much as the quality.

U.S. intelligence was apparently caught off guard by China's August test launch of a hypersonic nuclear weapon that travels at five times the speed of sound, follows a low trajectory and is nearly impossible to track using current satellite technology. Although China denies the report, the U.S. is on high alert over how such a system might tilt the balance of power.

SEE WHY HYPERSONIC MISSILES COULD JUSTIFY A FIRST-STRIKE

Apple rolls out its latest high-tech gadgets

Monday felt like Christmas for tech nerds with visions of new products dancing in their heads as Apple rolled out its latest gadgetry. Among the new toys turning heads are the next-generation Macbooks along with a third-generation AirPod that offers a $5-a-month music streaming plan.

Defying the supply chain problems that have slowed and even halted development of new product lines, Apple also unveiled its new HomePod MIni speaker and next-gen processors -- the Monsters M1 Pro and M1 Max. Those who tuned into the Apple Event might need the extra speed and memory capacity since their Christmas wish lists just grew longer.

CHECK OUT ALL THE LATEST HIGH-TECH TOYS FROM APPLE

Musk's bizzare tweet rocks crypto critters

Elon Musk has been known to impact cryptocurrency prices with a few choice words on Twitter, but his latest artistic tweet proves a picture is worth thousands of bucks -- even if the message is open to interpretation.

Musk tweeted a pixel-generated image of what many followers interpreted to be a bunny, prompting them to invest in rabbit-related cryptocurrencies like Bunny Park, Pancake Bunny, Little Angry Bunny V2, and Rewards Bunny -- all gaining in value. But others thought the pic resembles Floki, Musk's Shiba Inu dog and the unofficial mascot for Dogecoin -- a frequent topic on the billionaire's Twitter feed -- that sent others "to the doge." Like any controversial artist, Musk got a good kick out of the diverse reactions.

FIND OUT WHAT MUSK'S DRAWING IS SUPPOSED TO REPRESENT