tybs
Helicopter, plane collide in midair in Arizona, killing 2 people
A helicopter crashed and burned, killing both of its occupants, after the copter collided in midair over suburban Phoenix with a single-engine plane that landed safely at an airport, authorities said. The collision happened near Chandler Municipal Airport, said Chandler Police Sgt. Jason McClimans. McClimans and a Fire Department spokesman, Battalion Chief Keith Welch, confirmed that two people aboard the helicopter were killed. The people on the plane did not need medical attention, Welch said. Nobody on the ground was injured, McClimans said. News video showed a fire crew using a tarp to cover the helicopter’s burned wreckage in brush on what appeared to be a vacant lot or field near the airport’s southern boundary.
News video also showed the plane upright just off a runway. Its fuselage appeared to be intact. The airport was closed and the National Transportation Safety Board will investigate the collision, McClimans said. Police were seeking witnesses and people who may have videotaped the collision and the crash of the helicopter.
https://www.pennlive.com/nation-world/2021/10/helicopter-plane-collide-in-midair-in-arizona-killing-2-people.html
https://registry.faa.gov/AircraftInquiry/Search/NNumberResult?nNumberTxt=2868h
>>97516 pb
C101 US Coast Guard G5 on descent back at Reagan National Airport from Dayton, OH-Cox Int'l ground stop
Ridiculous
Short squeeze.
Current Short Volume: 28,180,000 shares
Average Volume 11.51 million shares
Today Volume so far: 75,552,971
https://www.marketbeat.com/stocks/NYSE/MRK/short-interest/
Biden administration considering regulating stablecoin issuers as banks
The Biden administration is looking into ways to impose bank-like regulation on companies that issue stablecoins, including asking them to register as banks, the Wall Street Journal reported on Friday citing people familiar with the matter. The administration is also expected to urge the Congress to consider a new legislation to create a special-purpose charter, the report said, which would be tailored to the business models of such firms. Stablecoins are a kind of digital coin that are pegged to traditional currencies.
Regulators across the globe have taken steps to clamp down on cryptocurrencies amid worries that the rapidly expanding market for privately operated currencies could lead to a rise in systemic risks, hurt investors and promote financial crimes among others. Joe Biden has already launched several efforts towards reigning in cryptocurrencies including a working group of top financial regulators focused on stablecoins known as the President’s Working Group on Financial Markets. A Treasury-led group also plans to recommend to the Financial Stability Oversight Council of regulators whether stablecoin activities should be designated as systemically important, the report added.
Recommendations from the Biden administration are expected to be included in the upcoming report by the President’s Working Group on Financial Markets, the report added, which will possibly be published in late October.
https://financialpost.com/pmn/business-pmn/biden-administration-considering-regulating-stablecoin-issuers-as-banks-wsj
SAM308 USAF G5 sw from JBA depart at 40K ft
White House Economic Adviser Says Higher Inflation Likely to Stick Around Longer
White House economic adviser Jared Bernstein told Fox News in a recent interview that inflation is likely to stay elevated longer than previously expected. Bernstein told the outlet that he thinks the rate of inflation will come in at around 4 percent for 2021, before falling to 2.3 percent in 2022. He did not say when, precisely, he expects the rate will tick down next year, but noted inflation would likely stay high into the middle of next year.
His expectations closely track the Fed’s most recent predictions. While Bernstein did not specify which inflation measure he was referring to, his estimates are in line with the most recent Personal Consumption Expenditure (PCE) inflation projections from the Federal Open Market Committee (FOMC), the Fed’s policy-setting body. After its most recent Sept. 21–22 meeting, the FOMC issued a revised set of economic projections (pdf) that estimate the PCE inflation rate at 4.2 percent for 2021, a sharp upward revision from June’s projection of 3.4 percent. For 2022, Fed policymakers expect PCE inflation of 2.2 percent, up from an earlier projection of 2.1 percent. However, the 18 members of the FOMC varied in their predictions, ranging in next year’s PCE inflation estimate from 1.7 percent to 3.0 percent. Bernstein, like Fed officials and many economists, blame supply-side disruptions for the bulk of the recent inflationary spike. When supply chain dislocations get ironed out, inflation will subside, he argued.
Some economists have warned of the growing risk of stagflation—where economic growth falls while inflation stays high. Economist Nouriel Roubini, known for his gloomy-yet-accurate forecast of the 2008 financial crash—a prediction he made at a time of peak market exuberance—warned in a recent op-ed that the global supply chain crisis, combined with high debt ratios and ultra-loose monetary and fiscal policies, threatens to turn the “mild stagflation” of recent months into a full-blown stagflationary crisis. Stephen Roach, former Morgan Stanley Asia chairman, on Wednesday became the latest high-profile economist to sound the alarm on the risk of the United States facing 1970s-style stagflation. Roach thinks the energy price spike is inflicting major damage to struggling supply chains, pushing up the risk of higher price growth even if the economy slows down. While Fed officials maintain that the current bout of inflation is temporary and will abate once supply chain dislocations ease, they’ve acknowledged that inflation has been higher and longer-lasting than they previously believed.
New York Federal Reserve Bank President John Williams said on Sept. 27 that consumer expectations for what the rate of inflation will be several years down the road remain “well-anchored” at around the Fed’s 2 percent objective, though he said there are upside risks and a “great deal of uncertainty” around the inflationary outlook.
https://www.theepochtimes.com/white-house-economic-adviser-says-higher-inflation-likely-to-stick-around-longer_4026864.html
In nationwide first, California will mandate COVID vaccine for eligible K-12 students, Newsom says
California Gov. Gavin Newsom on Friday announced the nation’s first coronavirus vaccination mandate for schoolchildren, a plan that will have all elementary through high school students get the shots once the vaccine gains final approval from the U.S. government for different age groups.
The government has fully approved the COVID-19 vaccine for those 16 and over but only granted an emergency authorization for anyone 12 to 15. Once federal regulators fully approve the vaccine for that group, the state will require students in seventh through 12th grades to get vaccinated in both public and private schools, Newsom’s office said.
The state will require the COVID-19 vaccine for students in kindergarten through sixth grade only after the federal government has given final approval for anyone 5 to 11.
The announcement comes as infections in most of California have dropped markedly in the last month. But Newsom has been emboldened after easily defeating a recall effort last month following a campaign where he emphasized his commitment to vaccine mandates to end the pandemic.
In Los Angeles County—the nation’s largest, with more than 10 million residents—just 1.7% of people tested for the virus have it and daily infections are down by half in the last month, when most kids went back to school.
“These numbers are amazingly low given that 3,000-plus schools are now open countywide,” county Health Director Barbara Ferrer said Thursday.
She noted that though the number of outbreaks in schools has increased slightly in recent weeks, the overall number is small and largely related to youth sports.
The state’s vaccine mandate would take effect the semester after the federal government grants final approval-If it comes in January, then the mandate would take effect in July.
https://lbpost.com/news/k-12-vaccine-mandate-covid-newsom-announcement
>>97308 pb
SAM430 USAF G5 ne from Austin Int'l overnight-inbound to Austin from San Diego Int'l overnight yesterday
Venezuela subtracts six zeros from currency, second overhaul in three years
Venezuela on Friday launched its second monetary overhaul in three years by cutting six zeros from the bolivar currency in response to hyperinflation, simplifying accounting but doing little to ease the South American nation’s economic crisis.
The plan seeks to makes accounting more straightforward at businesses and banks, where systems can no longer handle the huge figures. Venezuela’s year-on-year inflation is 1,743%, according to the Venezuelan Finance Observatory. A minimum wage salary is barely $2.50 per month. President Nicolas Maduro's government in 2018 removed here five zeros from the currency due to high prices. That came a decade after the late President Hugo Chavez subtracted three zeros from the bolivar with the promise of single-digit inflation, which was not achieved.
The once-prosperous OPEC nation is suffering a years-long economic crisis that has led millions of Venezuelans to emigrate. Maduro’s socialist government blames U.S. sanctions for the country’s woes, while critics assign responsibility to interventionist macroeconomic policies. The widespread adoption of the U.S. dollar for commercial transactions in Venezuela will further dilute the relevance of the new scheme. Bolivars in cash in Venezuela are rarely used for routine purchases.
Many people on Friday were using dollars in cash for purchases in supermarkets, pharmacies, and stores selling school supplies and uniforms, Reuters witnesses said. Bank systems were functioning normally after an hours-long planned outage early on Friday morning as they converted to the new currency scheme.
https://www.reuters.com/article/venezuela-economy/update-1-venezuela-subtracts-six-zeros-from-currency-second-overhaul-in-three-years-idUSL1N2QX1S0
dat's funny..and not at the same time
SAM308 USAF G5 on descent for MacDill AFB from JBA
SAM092 USAF G5 nw from JBA at 40k ft
SAM430 USAF G5 began descent to JBA from Austin Int'l overnight >>97663
U.S. CLO Sales Hit Annual Record Amid Leveraged Buyout Loan Boom
Sales of U.S. collateralized loan obligations reached a fresh annual record on Friday, topping $130.7 billion, as investors clamor to buy securities that offer relatively high ratings and protection against inflation.
New issuance topped 2018’s record of $130.4 billion, and may not slow down in the coming months. Some banks are projecting that new-issue CLO sales can go as high as $160 billion, and there are some 200 short-term credit lines funding upcoming transactions.
CLOs, the biggest buyers of leveraged loans, are benefiting from a strong supply of buyout debt. And the potential profit for putting together CLOs, measured by the gap between what a money manager can earn from buying loans and what it pays to finance its purchase of that debt, is still relatively high. That steep difference, known as the arbitrage, makes it easier for firms to sell the riskiest parts of CLOs, known as equity.
https://www.bnnbloomberg.ca/u-s-clo-sales-hit-annual-record-amid-leveraged-buyout-loan-boom-1.1660551