The thirtieth birthday of the Hubble telescope

 



The legend of Trump

A genius in his own mind

 

 

Stocks drop at fear of second wave of Corona virus

 

  

Global stock markets have fallen amid fears that an uptick in coronavirus cases could cause more economic damage.

The declines came after the US Federal Reserve warned that the American economy faces a long road to recovery... also amid warnings of a second wave of Covid 19.
In the US, the three main share indexes saw their worst day in weeks, with the Dow Jones Industrial Average down almost 7%. Stock markets in Asia also fell on Friday with benchmark indexes losing ground in Japan, Hong Kong and China.  The falls followed a weeks-long rally that had helped shares recover some ground from the lows seen in March.

Canadian stocks opened lower on Thursday, June 11. The market has been rallying because they were looking to 2021 and saying we’re going to get past this and then things will sort of get back to normal. That, plus the easing of lockdowns and a massive stimulus program to help the economy bounce back  to pre-pandemic levels have been pivotal in the S&P 500 staging a stunning recovery from a deep, virus-induced selloff.
The S&P 500 and the Dow Jones indexes ended lower after Fed Chair Jerome Powell acknowledged it could take years for the millions of people laid off due to COVID-19, to get back to work.
Not to mention, a second wave could drive the market down again.

Energy and travel stocks were among the biggest losers, as global crude oil prices also took a hit. European shares also dropped; all losing 4% or more.
"Government, companies and people would be better prepared for a second wave than for the first one," said Roland Kaloyan, European equity strategist at Societe Generale.
"But the problem is there is a limit to  long governments can keep injecting money."

Slow recovery

Share prices had gained in recent weeks amid hopes that the economy would rebound as authorities loosened restrictions put in place to try to slow the spread of the virus. Last week's surprise report showing US employers had restarted hiring in May helped to push the tech-heavy Nasdaq index to new highs.
But the recovery remains tentative. On Thursday, the US Labor Department reported that another 1.5 million people had filed new unemployment claims last week. More than 30 million continue to collect the benefits, it said.
US Federal Reserve policymakers said on Wednesday that the unemployment rate could remain above 9% at the end of the year - close to the worst level of the financial crisis,  At a news conference, Fed chairman Jerome Powell warned that this assessment may prove optimistic, if coronavirus infection and hospitalisation rates rise.
Several states that have moved to reopen, including Arizona and South Carolina, have seen a definite rise in Covid-19 cases in recent days.
"It could hurt the recovery, even if you don't have a national level pandemic. Just a series of local ones, of local spikes, could have the effect of undermining people's confidence in travelling, in restaurants and in entertainment," he said.
US Treasury Secretary Steven Mnuchin said he did not want to see a return of the lockdowns that had kept the world's largest economy frozen for weeks.
But economists have warned that people will stay at home voluntarily if they are afraid of becoming ill.
More and more experts are predicting a second wave. So, lets take what we learned from the first one and tighten our belts and try to budget ourselves accordingly. Also, stock up on everything from hand sanitizer to toilet tissue before it happens. Buying stock in toilet tissue seems like a safe bet.

Black Lives Matter

 

 

Race and racism is a reality that so many of us grow up learning to just deal with. But if we ever hope to move past it, it can’t just be on people of colour to deal with it. It’s up to all of us – Black, white, everyone – no matter how well-meaning we think we might be, to do the honest, uncomfortable work of rooting it out. It starts with self-examination and listening to those whose lives are different from our own. It ends with justice, compassion, and empathy that manifests in our lives and on our streets." – Michelle Obama in a statement following the harrowing death of George Floyd

 

ARTISTS FOR BLACK LIVES MATTER:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A picture really is worth a thousand words. A painting can speak to us if we are open to it. Art is a window to our time.  It represents the emotions, the philosophy, the soul and even the politics of our time. These paintings are a sad reflection of what is happening. Keep an open mind and keep an open heart.





Speaks for itself

 



Chauvin charges upped to murder two

Minnesota Attorney General Keith Ellison will increase the charges against Derek Chauvin in the killing of George Floyd to second-degree murder, multiple law enforcement sources familiar with the case revealed. Perhaps the public outrage around the world helped the US justice system to be a little more fair and impartial.
Additionally, the other three officers involved in Floyd’s fatal arrest—Tou Thao, J. Alexander Kueng and Thomas Lane—will be charged with aiding and abetting second-degree murder.

Chauvin was arrested last Friday (May 29) and originally faced charges of third-degree murder and second-degree manslaughter for kneeling on Floyd’s neck for eight minutes, which caused his death.

All four of the men face a maximum sentence of 40 years in prison, according to the criminal complaints.

The Minnesota Fraternal Order of Police did not immediately respond to a request for comment on the elevated murder charge against Chauvin or the charges filed against the other three officers Wednesday. It was not immediately clear if Lane and Thao had retained lawyers.

Minnesota Attorney General Keith Ellison asked the community for continued patience on Wednesday as his team of prosecutors investigate the case, noting that prosecution of police officers for such a charge is a difficult task.

"I feel a tremendous sense of weight, I feel that this is a very serious moment," Ellison said. "I can tell you I feel no joy in this, but I do feel a tremendous sense of duty and responsibility."

 

Ellison explained Wednesday after the charges were announced that first-degree murder would require proving premeditation, which the facts do not support at the moment. Instead, his team will assert that Chauvin committed a felony assault which unintentionally resulted in Floyd's death, which fits the requirements for second-degree murder.

These increased charges may put a bandaid on this situation but it does not solve the root problem of racism in America. And it cannot assuage the grief of George Floyd's family.

* Additional facts:
- Chauvin had a prior 18 complaints against him for foul language and improper conduct.
- The day after Chauvin was arrested, his wife Kellie filed for divorce. Apparently, she was appalled by the murder and so upset she could no longer stay in the relationship.