Everyone is stressed out about the impending government shutdown. Here in California, we fear that if Congress doesn’t find a compromise by Saturday at midnight in Washington, there will be lengthier wait times at airports and national sites like Joshua Tree may be forced to close. Republicans in the House must band together and quickly draught a resolution. GOP Congressman Mike Lawler, 37, who represents a seat in the New York suburbs, said that the small group of Republicans advocating for a protracted shutdown “have, frankly, been stuck on stupid.”
The S&P 500 lost 3.7%, marking the first negative three-month stretch since the third quarter of last year, and stocks had a terrible quarter. Investors are worried about rising energy prices and labour disruptions in addition to the shutdown: On Friday, the United Auto Workers expanded their intentions to strike more Ford and GM assembly sites. According to Dana Hull, Tesla deliveries likely decreased in the third quarter, marking the first drop since early 2022.
If you’re from California, Illinois, or New York, the news is even worse. According to updated official statistics, the regions’ personal income declined in 2016 for the first time since 2009. Ouch. Up from five before to revisions, seven states now exhibit negative growth or worse. There is also tonight’s Powerball drawing, where a $2 ticket offers the chance to win $960 million, which may change your life.
Aside from lottery riches, the day of easy money is likely over. While that’s OK if you have a lot of cash on hand, anyone holding bonds with a long maturity date or who needs to borrow money will suffer.
House hunters won’t be surprised to learn that, in all but three of the top 50 US metro areas, buying a starter home is now more expensive than renting. The average mortgage rate in the US hit 7.31% for a 30-year, fixed loan, which is the highest level since 2000.
The future may see fewer women in the workforce as child care options become more expensive and difficult to locate. As part of the American Rescue Plan during the pandemic, a $24 billion fund established by the Biden administration in March 2021 to boost teacher and childcare provider pay expired.
The CEO of the Female Quotient, Shelley Zalis, said: “We have to think about this as a really big issue.” This is an issue that affects the economy, people, and businesses.
Dianne Feinstein was California’s most respected politician long before she came to represent an ageing Senate. Feinstein was California’s equivalent of the Queen throughout her 60 years in public life. She was reserved, revered in her day, and ever-present. Feinstein too worked until her final day, just like Queen Elizabeth II, casting her final vote to avert a government shutdown hours before she passed away on Thursday night in Washington, D.C., at the age of 90.
The return of the pandas to China should put you in a terrible mood. The National Zoo in Washington will host them until December (barring a government shutdown), and fans will have a little more time to enjoy their roly-poly charm in Atlanta, San Diego, or Memphis. If you’re a big fan of pandas, you might want to plan a trip to Chengdu Research Base of Giant Panda Breeding in China, which has been so effective in increasing the population of the most endangered bear relative that it is no longer regarded as endangered.Tomorrow, come back for a preview of the upcoming week.