Get '5 things' in your inbox
High inflation and rising interest rates are fueling fears that a recession could be around the corner. But Warren Buffett – one of the savviest investors of all time – is still betting on America’s economy. While Buffett has reduced stakes in companies like Kroger and General Motors, market watchers say his willingness to keep buying elsewhere signals his ongoing confidence in where the economy and the financial markets are headed.
Here’s what you need to know to Get Up to Speed and On with Your Day.
(You can get “5 Things You Need to Know Today” delivered to your inbox daily. Sign up here.)
1. Primaries
Three people are dead and eight more are seriously injured after a mass shooting at Oxford High School in Oxford, Michigan. All three who were killed and most of the wounded were students. The suspect, a 15-year-old sophomore at the school, was taken into custody as police arrived on the scene. His parents have hired an attorney and have not let him talk to police, authorities said. The weapon recovered by law enforcement at the scene, a 9MM semi-automatic pistol, was bought Friday by suspect’s father, authorities said. Investigators have a “tremendous amount of video footage” to examine as they work to gather more information about the incident, and they are also looking at the suspect’s social media accounts.
2. Covid-19
The Supreme Court will hear oral arguments today in a case that could result in Roe v. Wade being overturned. The Mississippi law at issue bars most abortions after 15 weeks of pregnancy, a standard that violates legal precedent set by the 1973 decision. Several such laws have been enacted across the country recently with the aim of getting the Supreme Court to hear a direct challenge to Roe. A similar law in Texas that drew widespread condemnation was allowed to go into effect in September despite surprising skepticism from some conservative Supreme Court justices. That law is also before the court. While the high court’s decision on both these laws could curtail abortion access in several ways, conservative legislators have long tried to get Roe overturned altogether. By one estimate from the pro-abortion rights Guttmacher Institute, 26 states are certain or likely to ban abortions if the precedent is overturned.
3. Hearing aids
Top US government officials are considering stricter testing requirements for everyone traveling to the US as concerns about the Omicron variant rise. These new requirements could include a Covid-19 test the day before a traveler’s flight and having all travelers – including US citizens and permanent residents – test again after getting home. Meanwhile, the Biden administration is working with vaccine manufacturers on contingency plans in case future coronavirus vaccines need to be modified to better fight new variants of the virus. One of the biggest concerns surrounding Omicron is the possibility of “immune escape,” in which a variant is so mutated from other known strains that it may evade protection of vaccines and treatments.
4. Water cuts
Mark Meadows, former President Donald Trump’s onetime chief of staff, is now cooperating with the House select committee investigating the January 6 Capitol insurrection. Meadows is providing records and has agreed to appear for an initial interview, staving off a criminal contempt referral for defying a subpoena from the committee. The panel has tried to come down hard on Trump allies it’s subpoenaed, some of whom, like Meadows and former Trump adviser Steve Bannon, have tried to evade legal summons. Georgia Secretary of State Brad Raffensperger spoke yesterday to the committee about his experience with Trump’s 2020 election lies. During a now-infamous phone call in January, Trump pressed Raffensperger to “find” the votes needed to overturn results showing Biden had won the state. Raffensperger refused.
The federal government is implementing new mandatory water cuts for the Southwest US due to an extraordinary drought that is drying up the Colorado River and draining the nation’s largest reservoirs – Lake Mead and Lake Powell. The federal government announced Tuesday the Colorado River will operate in a Tier 2 shortage condition for the first time starting in January. This means Arizona, Nevada and Mexico will have to further reduce their Colorado River use beginning in January, or the federal government may step in and take control of the states’ water management plans. As a result, states, water managers and tribes are now back at the negotiating table to figure out how to solve the West’s water crisis.
5. Ukraine
Myanmar’s military government has filed a new corruption charge against deposed civilian leader Aung San Suu Kyi and former President Win Myint, according to state-run media. Suu Kyi has faced nearly a dozen cases against her since she and her ruling National League for Democracy party were overthrown in a February military coup. Her lawyers and supporters consider the charges against her to be politically motivated. Suu Kyi has been held in detention at an undisclosed location as Myanmar has descended into violence and fear under the military junta’s rule. Scores of protesters and political opponents have been arrested since the coup, and the military has even targeted medics attending to anti-junta groups.
BREAKFAST BROWSE
American Music Awards 2021: See who got nominated
Extra credit if you can name the Netflix movie that previously held that title. (You’ll find the answer at the end of the Breakfast Browse!)
The Rockefeller Center Christmas tree lighting is set for today
The tree is the sturdy kind that doesn’t mind the snow.
Jimmy Kimmel says he burned off some of his hair on Thanksgiving while trying to light an outdoor pizza oven
Who among us has not put life and limb on the line for a holiday feast?
Kiss those juicy post-holiday clearance sales goodbye
Yet another thing to blame on supply chain problems.
You get lost in the wilderness. Do you know how to survive? Here’s some help
Well, I had never really worried about it before, but now I will!
(Answer: It’s “Bird Box!”)
TODAY’S NUMBER
230
That’s about how much US law enforcement officials seized in cryptocurrency tied to ransomware attacks committed by a Russian resident. The operation, carried out in August, was part of ongoing US efforts to cut the sources of funding for Russian and Eastern European cybercriminals following a series of damaging attacks.
TODAY’S QUOTE
“The camera doesn’t lie.”
The American Library Association, in a statement about what it called a “dramatic uptick” in attempts to censor or remove books pertaining to LGBTQ issues and people of color. The ALA’s Office for Intellectual Freedom has tracked 155 such incidents across the country since June 1, often spurred on by conservative groups or leaders.
TODAY’S WEATHER
Check your local forecast here>>>
AND FINALLY
World’s tallest elephant toothpaste volcano
How does a pumpkin get THIS big? Well, watch this cool time lapse and find out! (Click here to view)