Random News and Notes 29 October
We talked about hurricane Melissa in yesterday’s RNN. She has passed over Jamaica and most of Cuba at the time of writing. The Bahamas and the Turks and Caicos are next.
Early reports indicate there is extensive damage across Jamaica. So far, it seems there has been little loss of life, but communications are sparse and the response is just starting.
The rains continue and the island of Hispaniola ( Haiti and the DR) faces more flooding and landslides.
In the isn’t this a bad movie plot category, a tractor-trailer carrying disease infected rhesus monkeys crashed in Mississippi yesterday. The truck was carrying 21 monkeys. 6 of them escaped. All but one of the escapees were reportedly killed by police.
That monkey is still on the loose at the time of writing. If you’re in the Heidelberg area of Mississippi, be on the lookout for random rhesus monkeys.
On day three of his Asia trip, President Trump is in Seoul, South Korea. He announced more trade deals including one with China that will reportedly end the export controls of Chinese rare earth minerals.
At an event with the ROK President, Lee Jae-myung, Trump was awarded the Order of Mugungwa, the highest honor in South Korea. The Order was awarded for Trump’s efforts as a peacemaker on the Korean Peninsula, particularly his previous summits with North Korean leader Kim Jong Un.
He was also presented with a crown, which will drive the left nuts. The crown is a replica of an ancient Silla Kingdom gold crown.
I am somewhat surprised our AuntiE missed this for the AM conversation today. It is national cat day.
Today in 1929 Black Tuesday wiped out nearly $14 billion in value and kicked off the Great Depression.
. . . (3.5% discount rate) and expanding credit by 60% (money supply grew $28B to $73B), it encouraged reckless lending and investment, per economist Murray Rothbard. Rothbard argued this artificial expansion—echoing post-WWI inflation—created malinvestments in stocks and real estate, setting up the crash.
. . . It reshaped America—New Deal expansions, SEC creation—but Rothbard viewed it as Fed-caused, proving central banking’s dangers. What do you think—is it time to end the Fed?
Government intervention led to the depression, made it deeper than it should have been and far longer than it should have lasted. I have issues with Rothbard as an economist – he was the father of the Anarcho-capitalist school – But he is right on this issue.
