BREAKING: @Sen_JoeManchin just confirmed to me that he will vote to support the nomination of Xavier Becerra for HHS Secretary.
See his statement below:
“As our nation faces deep divides and a healthcare crisis that has taken the lives of far too many Americans, we must commit to working together to heal our nation...”
“...While Xavier Becerra and I do not agree on every issue, he has affirmed to me his dedication to working with Members on both sides of the aisle to address the impacts of the COVID-19 pandemic and the numerous needs of our nation in a bipartisan way...”
“...He is committed to working with me to stabilize rural healthcare across America and combat the drug epidemic that has ravaged my home state of West Virginia...”
“...He has a proven record of defending the Affordable Care Act and fighting to protect the 800,000 West Virginians and millions of Americans with preexisting conditions...”
“...He understands the need to expand telehealth infrastructure – especially in rural communities – and implement the Defense Production Act (DPA) to improve domestic supply chains. He committed to me that he will uphold the law in regards to the Hyde Amendment...”
“...For these reasons, I believe Attorney General Becerra will be a leader for every American and West Virginian, and I will vote to confirm him as Secretary of Health and Human Services...”
“...I look forward to working with Attorney General Becerra to expand healthcare for rural communities and address the issues facing our nation.”
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1/
It’s Saturday Night, Let’s Get NERDY...
Why are some Texans seeing crazy electric bill spikes? It goes beyond supply/demand & really cold temperatures. It’s about deregulation and risk management.
2/ Bc Texas electricity mkt is so competitive, providers offer all sorts of incentives & unusual offerings like wholesale prices vs fixed. Why is this the worst moment for wholesale?
3/ The obvious: supply/demand In the face of record demand to heat homes, supply crashed.
- cold snap made everyone jack up the heat in their homes
- cold snap caused some power generation plants to shut down which reduces supply
THREAD: Insights from 2 of the CEOs who met with President Biden yesterday...It was described as a very serious and detailed meeting, where a wide range of topics were discussed.
The room agreed that tackling the health crisis is paramount, but the economic crisis remains complicated and problematic...fearing the worsening “K” recovery [where growing income inequality, rich richer, poor poorer] vs. a “V” recovery (snap back)
Biden started with the vaccine rollout and the room concurred that the number one thing we need is to get the vaccine into America’s arms. Biden also covered education, skills gap, infrastructure, healthcare with no specific timeline.
THREAD on Robinhood/Reddit/GME: CONGRESS is calling for action, but no one has clearly articulated what they actually want.
We could look back on this as the biggest “Pump & Dump” in history... with the little guys carrying all the water & then getting it dumped on their heads.
It started with a SMART discovery, Melvin Capital (hedge fund) broke the cardinal rule of short selling. They took on way too big of a short position given the size of their fund, how heavily shorted the stock already was and the amount of shares outstanding.
Technically, they were RIPE to get squeezed, but there was virtually no case for anyone following fundamentals (earnings, growth etc...) to want to buy this sleepy, brick and mortar video game retailer.
Short selling is absolutely legal and adds to efficiency of the market.
THREAD: Let’s dig into Biden’s econ proposal. I know there are a lot of numbers to dig through, but I wanted to note something:
The American Family Act, Child Tax Credit expansion included in the Biden proposal.
It could have a massive impact towards addressing child poverty.
According to Columbia University: American Family Act will CUT Child Poverty by 40% - which is remarkable from a notable and economic stand point.
While it might sound like a big spend now, the cost to our economy long term from millions of children missing opportunities because they are born into poverty is enormous. (National Academy of Sciences estimates child poverty costs our country between $800bn-$1.1tr a year)
We learned yesterday that Trump’s largest lender, Deutsche Bank, is done doing business with him.
Before he took office, no U.S. major bank was willing to do business with him.
And in the last 48 hours, we’ve seen scores of major companies respond to last week’s riots & the refusal to certify the free & fair election (all fueled by Trump himself), cut off political donations, and some terminating business/payment processing for the Trump Campaign.
The PGA cancelling the upcoming championship at Trump Bedminster was another major blow to Trump’s bottom line & brand.
None of this would have happened if Trump was simply ending his term like any normal President.
THREAD: Here’s a round-up of corporations pulling out of donations/events because of last week and what that means.
While these companies are only temporarily halting contributions & still giving to Super PACs etc., it is very significant to see them take public action NOW.
More than anyone, corporations track public sentiment. Most also don’t like being tangled in politics.
Taking clear action against Republicans in the Senate who would not certify the election and very clear distancing themselves from President Trump shows they believe this is where America’s head is at TODAY (the shift since Election Day).