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Sep 28, 2021 TODAY

North Korea launched another missile shortly before its ambassador addressed the United Nations about “hostile” American policies. R. Kelly is guilty on all counts in the singer’s sex trafficking trial. And Mr. Goxx the hamster is killing it at crypto trading.

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Erik Nelson, Weekend Editor

Important

1 - Peace Launch

North Korea Fires Missile, Addresses UN

It has a “righteous right.” That’s how Kim Song, Pyongyang’s representative to the United Nations, couched North Korea’s weapons tests shortly after Japan detected its launch of a suspected short-range ballistic missile. Kim said the Hermit Kingdom, which recently tested train-borne and cruise missiles, is merely defending against “hostile” American policy, noting the presence of 30,000 U.S. troops in South Korea. Continuing the recent softening of rhetoric, Kim said his isolated, nuclear-armed nation would “respond willingly” to offers of talks, but doesn’t expect the U.S. and South Korea to change their stance to facilitate them. (Sources: Al Jazeera, Reuters, United Nations)

2 - Brink Baiting

GOP Blocks Funding Bill as Default Clock Ticks

You’re on your own. That’s the message for Democrats from Senate Republicans, who voted to block House-approved funding to keep the government running until Dec. 3. With the fiscal year ending Thursday, the government may partially shut down unless Democrats, with their razor-thin Senate majority, separate raising the federal debt limit, which Republicans oppose, from funding they’ve said they’ll support. While Democratic leaders noted that Republicans approved debt ceiling hikes under a GOP president, Minority Leader Mitch McConnell said raising the limit now would allow a “socialist binge” in the form of a $3.5 trillion spending bill. (Sources: NPR, Washington Post, NY Post)

3 - Who’s Counting?

Adding 2,000 Daily, US Virus Deaths at 700,000

By some tallies, it’s already happened. But whichever accounting experts might favor, it’s clear that in a year and a half, COVID-19 has claimed more American lives than the 1918 Spanish flu. And despite vaccinations being widely available, 2,000 more are dying daily. From conservative politicians to basketball stars to health care workers, unfounded vaccine skepticism has kept millions from protecting themselves. Even the pro-vaccine majority have their own disputes over booster shots, which President Joe Biden received yesterday, while the Food and Drug Administration replaced its vaccination chief after officials questioned the need for extra doses. (Sources: CNN, CBS, The Hill, NYT)

4 - Big Cookie Jar

Fed Board Members Resign Amid Trading Affair

Is it the ultimate insider trading scandal? It appears not, as Eric Rosengren and Robert Kaplan, presidents of the Boston and Dallas Federal Reserve banks, resigned yesterday over what one called a “distraction” from the central bank’s work. Their financial disclosures revealed stocks and other investments that they’d traded while helping set financial policy that has a profound effect on markets. The move, coming soon after the Fed said it would review ethics rules, is thought to help Chairman Jerome Powell, who’s due to testify before Congress today, in his bid for a new term. (Sources: WSJ [sub], CNBC, Reuters)

What do you think? Should trading by Fed board members be outlawed? Tell us by clicking below.

Fed Trading Poll

5 - Also Important …

Ford has announced plans to build four electric vehicle factories employing 11,000 people in the United States. A federal court has sentenced a Washington state man to 20 years for blackmailing teens into sending explicit images to him. And Europe’s pro soccer governing body has dropped its efforts to penalize teams that tried to create a new “Super League.”

Coronavirus Update: With infections tapering off, Japan is ending its state of emergency on Thursday. And the premier of Australia’s New South Wales has warned that Sydney residents who remain unvaccinated when lockdown restrictions are lifted in December will face social isolation.

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Intriguing

1 - #MeToo Verdict

‘Predator’ R. Kelly Guilty on All Counts

He’s finally muted. Robert Sylvester Kelly, 54, watched silently as a federal jury in New York delivered his verdict Monday: Guilty on eight counts of sex trafficking and one count of racketeering. It’s taken decades since the Grammy-winning “I Believe I Can Fly” singer “used his inner circle to ensnare underage girls, men and women” in a “web of sex abuse, degradation and humiliation,” said acting U.S. Attorney Jacquelyn Kasulis. Kelly’s lawyer expressed disappointment and said he’d consider an appeal, while Kasulis called the verdict a “powerful message” to abusive men that “the law will catch up with you.” (Sources: Chicago Tribune, CBS2 New York, Fox32 Chicago)

2 - Wheel of Fortune

Crypto Hamster Out-Earns Warren Buffett

Watch out, Elon Musk. Mr. Goxx, who livestreams cryptocurrency trades on Twitch, has gained 20% since June. That’s better than Warren Buffett’s Berkshire Hathaway and pretty good for a hamster. Running in his “intention wheel,” he chooses a denomination, then scrabbles through either “buy” or “sell” tunnels. The two anonymous Germans who bankroll him told the BBC the gains are real: His initial investment of $390 peaked at $580 before settling back to $468. But as the site warns his 7,000 followers, the furry financier isn’t an investment adviser, so don’t bet all your food pellets on his next pick. (Sources: BBC, PC Gamer, Twitch)

3 - Image Issues

Facebook Pauses Instagram Kids After Outcry

“We make body image issues worse for one in three teen girls.” So read an internal Facebook presentation about Instagram. After such misgivings were reported by The Wall Street Journal and criticized by lawmakers and 44 attorneys general, the company said it’s pausing its tween-targeting Instagram Kids. Facebook says it'll work with concerned parties to show the “value and need” of the project. Instagram head Adam Mosseri said it’s an outlet for young users who might otherwise lie to access adult Instagram. But that won’t satisfy many, like Rep. Ken Buck, who wants the platform to “abolish the program completely.” (Sources: WSJ [sub], Engadget)

4 - Gasp-Worthy

Carolinians Witness Apocalyptic 32,000-MPH Fireball

Prayers may have been uttered. The sight of a massive fireball blazing toward Earth must have set hearts racing in coastal North Carolina Friday, especially for those unfamiliar with the phenomenon. Video emerged yesterday of the fireball, an exceptionally bright meteor that was tracked by NASA, as it appeared 48 miles above the ocean and flew 26 miles through the atmosphere before burning up. It was a big event for the American Meteor Society, which received 80 reports of the spectacular display. You may have missed this one, but the ASM says several thousand scream through the skies every day. (Sources: CBS, NPR)

5 - Inside the Line

Barty Drops Indian Wells, Osaka Has Tennis ‘Itch’

For fans, it’s preferable to those scratches. Naomi Osaka has publicly struggled with mental health, most recently pulling out of October’s Indian Wells Masters. But after dropping to world No. 7, the 23-year-old recently admitted, “I kind of have that itch again.” She’s in good company avoiding Indian Wells. Serena Williams has already withdrawn, and top-ranked Ash Barty, also eliminated in New York, announced Monday she’d sit it out too. That means Barty’s season may be over: Her coach complained that November’s culminating WTA Finals Mexico venue is 5,000 feet above sea level, played with unfamiliar pressureless balls. (Sources: Reuters, Yahoo, The Guardian)

More on OZY

Today on The Carlos Watson Show: Whether or not you know Vincent D'Onofrio by name, you’ve probably been wowed by his work. Today the Law & Order and Godfather of Harlem star stops by the show to discuss how he approaches the craft of acting, growing up the child of hippies and the actors who never cease to amaze him. Plus hear him discuss playing controversial televangelist Jerry Falwell in the new drama The Eyes of Tammy Faye and why he thinks it’s important to approach every role with an open mind.

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