Originally published at: https://peakprosperity.com/daily-digest/strikes-floods-end-the-vaccine-carveout/
Politics
A bipartisan interim report released by U.S. Senators Rand Paul, Gary Peters, Ron Johnson, and Richard Blumenthal details significant security failures by the U.S. Secret Service (USSS) during the July 13 assassination attempt on former President Donald Trump in Butler, Pennsylvania. The report highlights failures in security planning, communication, and coordination, and provides recommendations to prevent future incidents. The senators emphasized the need for accountability and transparency, criticizing federal agencies for obstructing the investigation by withholding vital records.
Regarding the upcoming U.S. election, the House Committee on Oversight and Accountability has issued a subpoena to DHS Secretary Alejandro Mayorkas for documents related to Minnesota Governor Timothy Walzās alleged connections to the Chinese Communist Party (CCP). Whistleblower disclosures reportedly revealed a Microsoft Teams group chat among DHS employees discussing Governor Walzās ties to the CCP. The Committee, which has been investigating these connections since August, seeks unredacted records and intelligence reports from November 2023 to the present. Governor Walzās frequent visits to China have raised concerns, especially as he is the vice-presidential candidate for Kamala Harris. The VP debate on October 1 is expected to be influenced by these revelations.
In eastern Tennessee, eight men, all migrants, have been arrested on suspicion of looting and burglarizing flood-ravaged victims in Washington County, indicating the woes of flood victims have been made worse by immigration. The suspects were apprehended on September 29. This incident is part of the ongoing challenges faced by the region in the aftermath of severe flooding.
In Berlin, award-winning playwright and political satirist CJ Hopkins has been declared guilty of āhate speechā by the Berlin Appellate Court after his initial acquittal was overturned. Hopkins faced charges for comparing New Normal Germany to Nazi Germany and challenging the official Covid narrative. He plans to appeal to the German Constitutional Court, emphasizing his opposition to fascism and totalitarianism.
Economy
More than 45,000 members of the International Longshoremenās Association (ILA) have gone on strike, marking the largest labor action at U.S. ports in nearly 50 years. The strike, driven by disputes over automation and wages, threatens to disrupt supply chains nationwide. If it persists, retailers could face shortages of certain goods, potentially sparking another wave of inflation. The strike could halt about half of the nationās ocean shipping, costing the economy billions daily.
Meanwhile, historic flooding from Hurricane Helene has affected the small town of Spruce Pine, known for its high-quality quartz essential in the chipmaking process. The storm has left the area with catastrophic damage, making roadways inaccessible and leaving many without power. The impact on the two mining companies operating in the town, Sibelco and The Quartz Corp, remains uncertain, but any significant damage could disrupt the global supply of high-purity quartz, crucial for semiconductor production.
In the realm of commercial real estate (CRE), the office, retail, and lodging sectors continue to struggle, with significant issues that are not solvable by interest rate cuts. Office CMBS delinquency rates surged to 8.4% in September, the highest since the Great Recession, due to oversupply and reduced demand for office space. Retail CMBS delinquency rates for mall properties rose to 7.1%, driven by the shift to ecommerce. Lodging CMBS delinquency rates increased to 6.2%, impacted by the rise of vacation rentals. In contrast, industrial real estate remains robust, with CMBS delinquency rates dipping to 0.3%, thanks to strong ecommerce demand.
Health
A new bill, House Bill 9828, titled the End the Vaccine Carveout Act, has been introduced in the U.S. House of Representatives by 30 Republican lawmakers. The bill aims to eliminate the liability protections granted to vaccine manufacturers under the 1986 Childhood Vaccine Injury Act. Robert F. Kennedy Jr. and organizations like React19 and The American Family Project support the bill, arguing that the 1986 statute removed incentives for vaccine makers to ensure product safety. The bill proposes allowing vaccine-injured individuals to pursue civil action against vaccine makers and seek compensation through the VICP or both, and aims to redefine COVID-19 vaccines as vaccines rather than ācountermeasures,ā thus removing their liability protection under the PREP Act.
Geopolitics
In international news, the escalating conflict between Israel and its neighbors, particularly Lebanon, continues to draw attention. Richard Wolf, a professor at the University of Massachusetts Amherst, argues that Israelās ongoing hostilities with its Arab neighbors are unsustainable without U.S. support. He suggests that the U.S. is overextended and cannot continue to support Israel indefinitely, emphasizing the need for diplomatic solutions and negotiations to resolve these conflicts.
Sources
Eight Migrants Arrested for Alleged Looting in Flood-Stricken Tennessee
Eight men, all migrants, have been arrested for allegedly looting and burglarizing flood-ravaged victims in eastern Tennessee.
Source | Submitted by bcoop
Speculation Rises Over Possible Iranian Cyber Attack Amid Widespread Outages
I wouldnāt be shocked to learn that the outages today are a result of an Iranian cyber attack.
Source | Submitted by bcoop
DHS Subpoenaed Over Alleged CCP Ties of VP Candidate Governor Walz
āThe Committee has recently received whistleblower disclosures informing the Committee of serious concern among Department of Homeland personnel regarding a longstanding connection between the CCP and Minnesota Governor Timothy James Walz,ā wrote Chairman James Comer.
Source | Submitted by timmy04jc
Commercial Real Estate Woes Deepen: Office, Retail, and Lodging CMBS Delinquencies Surge in September
Rate cuts cannot fix the structural issues crushing office & retail CRE. But industrial, fueled by ecommerce, is in good condition.
Source | Submitted by rhollenb
30 GOP Lawmakers Push to End Vaccine Makersā Liability Shield
āBy freeing them from liability for negligence, the 1986 statute removed any incentive for these companies to make safe products. If we want safe and effective vaccines we need to end the liability shield.ā
Source | Submitted by pinecarr
Escalating Tensions: Israel and Hezbollah on Brink of War as US Faces Strategic Dilemma
Israel exists because the United States supports it financially, economically, politically, culturally, and militarily, never more so than right now.
Source | Submitted by rhollenb
Bipartisan Senate Report Unveils Secret Service Failures in Trump Assassination Attempt
āFrom planning missteps, to the siloed and flawed communication to the lack of effective coordination between law enforcement, to the breakdowns in technology, the Secret Serviceās failures that allowed an assassination attempt on former President Trump at his July 13 rally were shocking, unacceptable, and preventable ā and they led to tragic consequences,ā said Chairman Peters.
Source | Submitted by Barbara
Hurricane Helene Threatens Global Chip Supply by Devastating North Carolinaās Quartz Hub
Hurricane Helene brought historic rainfall and flooding to western North Carolina last week, leaving dozens dead and catastrophic damage stretching across the stateās mountain towns.
Source | Submitted by nesum-dourma
Berlin Court Overturns Acquittal: CJ Hopkins Found Guilty of Hate Speech
āI am now, officially, at least according to the New Normal German authorities, a āhate-speechā criminal.ā
Source | Submitted by permiegirl
Historic US Port Strike: 45,000 Longshoremen Walk Off, Supply Chain Crisis Looms
More than 45,000 International Longshoremenās Association (ILA) members from over three dozen facilities across 14 Gulf and East Coast ports went on strike early Tuesday, marking the largest labor action at US ports in nearly 50 years.
Source | Submitted by AaronMcKeon
