The Daily Valet. - 7/13/22, Wednesday
✔️ Is This Good News?
Wednesday, July 13th Edition
I don’t follow much sports, but I get a similar rush when my favorite shows get nominated for an Emmy.
Cory Ohlendorf , Editor ⋯ @coryohlendorf
Today’s edition is presented by
Today’s Big Story
The Incredible Falling Euro
The euro is nearly equal to the dollar. That’s a big deal.
Every month seems to find a different currency somewhere in the world in decline, and for July, the unlucky one is the euro. The currency (shared by Germany, France, Italy and 16 other countries) is a hair above parity to the U.S. dollar—making them equal to each other for the first time in two decades.
It’s not great for Europe, but it’s definitely an exciting prospect to many Americans, who have long been at a disadvantage when they travel to Europe or deal with the exchange rate between the two currencies. Have you ever accidentally bought something online that was in euros and didn’t realize until you saw the charge on your credit card? (No? Just me? Moving on ...)
What does this really mean for businesses and consumers? According to the Washington Post, shifting global currencies can have a profound effect on businesses that sell their products abroad or rely on foreign raw materials to make them. It also can also can play into the price of commodities, such as grain, which have a straight line to consumers. Experts say the euro’s retreat also hints at the slower pace of global trade, adding to recession worries.
It’s something of a double-edge sword. If the dollar becomes too strong, it could harm business for American companies, because their goods may become more expensive for foreign buyers. And if sales of U.S. exports decrease, that could further slow down an already stalled U.S. economy.
According to Axios, urope’s “troubled common currency has been on a dizzying downward spiral for all of 2022, victimized by a resurgent dollar,” which has been bolstered recently by the higher interest rates and safe-haven buying. Year-to-date, the euro is down about 18%, but it's hardly the one lagging against the now muscular dollar. American bucks are currently up against the Japanese yen, Mexican peso, the Canadian and Australian dollars, and the South Korean won.
What’s more, analysts at JPMorgan warn that the euro is “vulnerable to further downside over the medium-term” which could drag it below parity. And the Wall Street Journal says that the European Central Bank is even less aggressive in fighting inflation than the U.S. Federal Reserve so they don’t expect things to change any time soon.
↦ Meanwhile: Social media had some fun Tuesday at the weak euro’s expense: A lot of elated jokes about heading to Europe and, you know, buying the Eiffel Tower.
The Jan. 6 Panel Tackles Extremism
“Trump can’t be ‘willfully blind’ in defending assembling the mob.”
On Tuesday, the Jan. 6 committee held another hearing in which it attempted to tie former president Donald Trump to (and hold him responsible for) the most violent extremists leading the attack on the Capitol.
Trump's tweet at 1:42 a.m. on Dec. 19, 2020 is what the panel is trying to prove motivated right-wing extremists to seek blood. The tweet came after an hours-long meeting with outside advisers about seizing voting machines that a White House adviser described in real time as “unhinged.”
The latest star witness to rebut Trump's claim of a stolen election is Pat Cipollone, the former White House counsel, who revealed that Trump was advised not to single out Pence in his Jan. 6 speech. But Trump ignored the advice. The committee also shared how Trump ad-libbed some of the more violent parts of his speech on the Ellipse on the day of the attack.
The panel showed graphic and violent text messages and played videos of right-wing figures, including Alex Jones, and others vowing that Jan. 6 would be the day they would fight for the president. They also heard remorseful testimony from an Ohio man who believed Trump's election lies and answered the defeated president's tweet to come to Washington.
↦ FYI: An ex-Twitter employee testified that if Trump were anyone else, he would have been banned from the platform much earlier than he ultimately was.
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Vasectomies Are on the Rise
Men as young as 23 are choosing vasectomies in post-Roe America
In the days and months following both the leak of and the official release of the Supreme Court decision overturning Roe v. Wade, Google search queries for “get a vasectomy” (and other related searches) peaked and reached an all-time high.
Planned Parenthood, which provides vasectomies in some of its clinics, said their web traffic increased over 2,200% in the days following the judgment. Traffic to an article on how to get a vasectomy spiked more than 1,500%.
Not only are men more interested, but the average age is decreasing. Younger and single men are now asking for the procedure—which was not the case before. In fact, one urologist told NBC News that calls have increased so much at his clinic that he is considering going in on Saturdays to keep up with the demand for appointments.
And, in case you're wondering, I'll save you the Google search: The procedure, which blocks sperm from entering semen, is outpatient and takes about 10 minutes. Recovery takes about two days, as opposed to a female tubal ligation—which is riskier, much more invasive and comes with a longer post-op downtime.
↦ Dig Deeper: Under Obamacare, birth control pills are free. Why aren’t vasectomies? Expanding access could help shift some of the burden of birth control.
Global Population to Soon Hit 8 Billion
The U.N. also said India will replace China as the world’s most populous nation next year
Speaking of making babies, new projections from the United Nations’ Department of Social and Economic Affairs show that the global population is expected to reach 8 billion this fall. Officially, they're projecting the world's 8 billionth human to arrive on Nov. 15th.
According to the their latest projections, the world’s population could grow to around 9.7 billion by 2050 and a peak of around 10.4 billion during the 2080s. Scientists believe it'll remain at that level until 2100.
This news comes as population growth is at its slowest rate since 1950, with rates dipping under one meagerly percent in 2020. The U.N.'s report also projects that India will surpass China as the most populous country in the world by 2023 — a change, in part, because of China's aging population and history of restricting births.
And while you might be worried about overcrowding, United Nations Secretary-General Antonio Guterres wants us to look on the bright side. “This is an occasion to celebrate our diversity, recognize our common humanity, and marvel at advancements in health that have extended lifespans and dramatically reduced maternal and child mortality rates,” he told CBS News. When you look at it this way, it's not so bad, right?
In Other News
↦ Two Recent “Morning Routine” Subjects (Arian Moayed and Colman Domingo) Were Just Nominated for Emmys
Other Things We’re Talking About Today
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Morning Motto
Prioritize what matters to you most.
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That’s all for today...
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