Saturday, May 31
In The NEWS
> Music legend Smokey Robinson files $500M defamation lawsuit against four women who accused him in lawsuit of sexual assault (More) | Michael Sumler, member of iconic R&B band Kool & the Gang, dies in car crash at age 71 (More)
> Texas seventh grader Faizan Zaki spells "éclaircissement" correctly to win 97th Scripps National Spelling Bee after finishing runner-up last year (More)
> The 2025 NCAA baseball tournament kicks off today; see previews for all 16 regional sites (More) | MLB to invest in upstart women's professional softball league; Athletes Unlimited Softball League set to launch in June (More)
Science & Technology
> Leinweber Foundation makes largest philanthropic gift ever in the field of theoretical physics, granting a total of $90M to Princeton, MIT, and the universities of Michigan, Chicago, and California, Berkeley (More)
> Meta and Anduril to develop combat-ready virtual reality glasses and wearables for the US military; Anduril cofounder Palmer Luckey previously founded VR startup Oculus, acquired by Meta in 2014 (More)
> White-nose syndrome in bats can be traced to two separate strains of fungi originating from Ukrainian caves; an epidemic responsible for killing 90% of certain North American bat species likely brought over by cave explorers (More)
Business & Markets
> US stock markets close up (S&P 500 +0.4%, Dow +0.3%, Nasdaq +0.4%) (More) | Gap shares drop 15% in after-hours trading after retailer reports it expects tariffs to cost between $100M to $150M with mitigation efforts (More) | Dell shares rise in after-hours trading after raising full-year earnings outlook on AI demand (More)
> Ex-Goldman Sachs banker sentenced to two years in prison for role in taking more than $4.5B in kickbacks and stolen funds from a Malaysian sovereign wealth fund intended for energy and infrastructure projects (More)
> CEO compensation in 2024 for S&P 500 executives up nearly 10% over previous year to a median of $17.1M (More, w/chart)
Politics & World Affairs
> Health and Human Services cancels $766M award to pharmaceutical company Moderna to develop bird flu vaccine (More) | No H5N1 bird flu cases have been found in humans in three months (More)
> Supreme Court rules to greenlight 88-mile expansion of oil and gas railroad project in Utah, curbing judicial authority to block projects on environmental grounds (More)
> State Department notifies Congress of plan to reduce staff by 18%, above the 15% flagged weeks earlier; will also eliminate a division focused on resettling Afghan refugees (More) | Elon Musk ends tenure as chief operating officer at the Department of Government Efficiency, returns full time to businesses (More)
SOURCE: 1440 NEWS
Peace of Mind
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Yesterday, I wrote about the simplicity of life and happiness.
Let me share my personal story...
Facts:
- I am 77 years old and before 2025 ends, I will be 78.
- I have been constantly treated for one or two cancers since I was 60 (Lymphoma/Melanoma).
- At 60 I have a serious heart attack and had five stints inserted to avoid a triple bypass.
- At 74, I had L2-L3-L4-L5-S1 fused.
- At 75, I tore one tendon off my right rotator cuff and 2 tendons off my left rotator cuff.
- I do not have a company retirement program, nor a 401K - I can only rely on Social Security and what my wife and I have saved.
- I have never earned more than $50,000/year and that was only for one year.
- My wife has had both hips replaced and is currently living with a degenerative spine and could potentially be losing her eyesight.
- She has had cancer but has been in remission for 6 years (knock on wood).
Needless to say, our lifestyle is SIMPLE and it suits us both fine. We watch what we spend, buy NOTHING we don't need. We vacation twice a year at Myrtle Beach, SC and go out to dinner once or twice a month. Eating half, bringing the rest home to eat the next night. We look for bargains.
We are both happy and content and want for nothing.
We take care of four cats, three are ours, one is a stray that seems to like it here.
We enjoy what we have, seldom fight and never go to bed angry.
We live life one day at a time and are grateful for every aspect of that day even when it does not go according to plan.
Maybe age has given this to us or maybe we just finally learned how to properly live life. My brother and sister do not live like we do and cannot understand why we are like that. Telling us we have no motivation or desire to become better.
Every day, I try to do things a little bit better than I did the day before. Recognize what needs to be done rather than have it be suggested. Not forgetting to brush my teeth. Making sure that I notice nature and enjoy its beauty.
I very seldom think about my health or what I cannot do. I take daily chemo pills and two infusions monthly for my cancers, so the reminder is constantly there, but it does not cloud my thoughts or my behavior.
LIFE IS WHAT IT IS... and nothing more...
Why Substack will be the intellectual engine of the 21st century
The last time humans created a new civilization was during The Enlightenment, the period of time from about 1680 to 1800 that gave birth to many of the core technologies, economic systems, and government institutions that led to the modern world.
My last essay laid out how the people of that time created six mega-inventions that changed the world in fundamental ways: mechanical engines, carbon energies, the Industrial Revolution, financial capitalism, representative democracy, and nation states.
Each of those mega-inventions has a direct parallel that has emerged or is emerging in our world today, as you can see in the graphic below. They are artificial intelligence, clean energies, the biological revolution, and what might soon come to be known as sustainable capitalism, digital democracy, and global governance.
Friday, May 30
Robert Reich
Friends,
Today ends Part 1 of the second Trump regime.
First, Elon Musk has departed the Trump White House, not altogether happily.
He signed off via X after 128 wild days of mayhem and havoc, but the damage Musk did to our government and its capacities to serve the people will be felt for years — although many of his cuts were swiftly reversed by the courts. His slash-and-burn tactics, his raids on government (and personal) data, and his almost cruel delight in firing government employees and closing entire agencies leave a horrific legacy.
Courts Play with Trump's Tariffs
It temporarily paused a ruling by the Court of International Trade, which determined on Wednesday that Trump did not have the authority to impose most of the economy-shaking tariffs he’s unveiled since January. That included his sweeping “Liberation Day” blanket tariffs of 10% or more on virtually all foreign goods, as well as additional duties on Canadian and Mexican imports—all of which Trump introduced under the International Emergency Economic Powers Act (IEEPA).
The White House is expected to ask the Supreme Court to decide whether this was fair game if lower appeals courts don’t ultimately preserve the tariffs.
But even if Trump loses, tariffs aren’t over
White House trade officials have derided the tariff-foiling decision by the Court of International Trade as a minor “hiccup” caused by “activist judges.” They insist that using the IEEPA to implement tariffs is just plan A, and Trump has plenty of other (albeit less powerful) legal options to impose duties:Federal law allows Trump to impose tariffs of up to 15% for up to 150 days in situations where imports exceed exports to a degree deemed a crisis.
He could also use a legal provision called Section 232 to impose industry-specific tariffs following an investigation into how imports affect national security, as he’s recently done with steel, aluminum, vehicles, and auto parts.
And then there’s Section 301, which allows the president to investigate a country for abusive trade practices—a rule he leveraged to put tariffs on China during his first term.
But...experts say that the uncertainty surrounding whether Trump’s current tariffs will pass legal muster might push some countries to adopt a wait-and-see approach to negotiating trade deals with the US. The Trump administration is currently in high-stakes talks with key economic partners, including the EU and Japan.—SK
Robert Reich
Don’t buy revisionist attempts to rehabilitate it. Instead, push for a bold progressive populism.
Friends,
I rarely ask you to look at charts. Today is an exception. This one is from the Economic Policy Institute. It compares the typical American’s pay starting just after World War II (light blue line) with the nation’s increasing productivity since then (dark blue).
The chart shows the widening divergence between the rise of pay and the yields from productivity.
In the first three decades after World War II, the typical American’s pay rose in tandem with the nation’s growing productivity. The benefits from higher productivity were broadly shared.
But then, starting in the late 1970s and dramatically after 1980, pay barely grew, even as productivity continued to soar. The benefits from higher productivity went increasingly to the top.
Why?
At A Glance
(5/21/25) The 30-second rule for conversations.
(5/12/25) Doctor gives science-backed advice for aging.
(5/16/25) Video captures "fog tsunami" rolling over Lake Michigan.
(5/5/25) The most beautiful English words, according to linguists.
(5/7/25) What's on the menu in the papal conclave cafeteria?
(5/19/25) US News ranks all 50 states.
(5/21/25) Newly discovered bright blue frog with copper legs.
(5/18/25) Airlines with the most (and least) complaints in 2024.
(5/13/25) Stonehenge-like structure found in Lake Michigan.
(5/6/25) Where US home prices are rising (and falling) the most.
Clickbait: World's first flying car prototype makes public debut. (w/video)
Historybook: Joan of Arc is executed (1431); Historian and philosopher Voltaire dies (1778); First Indianapolis 500 is held (1911); Lincoln Memorial is dedicated (1922); Crew Dragon Demo-2 becomes first commercial flight to International Space Station (2020).
In The NEWS
Sports, Entertainment, & Culture
> Oklahoma City Thunder top Minnesota Timberwolves 4-1 to advance to NBA Finals for first time since 2012 (More) | Defending champs Florida Panthers beat the Carolina Hurricanes to reach the NHL Stanley Cup Final for a third straight year (More)
> Broadway hauls in $1.9B across all productions for the 2024-25 season, an all-time record and 23% jump from last year (More)
> Women's College World Series kicks off today with eight teams vying to become the NCAA softball national champion (More) | Onosato Daiki becomes first Japanese sumo grand champion, or yokozuna, since 2017; six of the last seven yokozunas were Mongolian (More)
Science & Technology
> Astronomers discover unexplained celestial object emitting both X-rays and radio waves roughly every 44 minutes; candidates—including a strongly magnetized neutron star and a white dwarf—fit some, but not all, of the data (More)
> Researchers successfully extract proteins from 200-year-old brain tissue, opening a new way to study the biology of deceased communities; technique relies on urea, the main component of urine, to break open cells in recovered tissue (More)
> New fuel cell design stores three times the energy of best-in-class battery technology; prototype uses liquid sodium metal as fuel, may have applications in electric planes (More)
Business & Markets
> US stock markets close lower (S&P 500 -0.6%, Dow -0.6%, Nasdaq -0.5%) (More) | Federal court blocks Trump administration's reciprocal tariffs, saying president exceeded authority in using 1977 law to justify imposing duties (More)
> Nvidia beats estimates with 69% year-over-year Q1 revenue growth (More) | GameStop shares down nearly 11% after purchasing over $500M in bitcoin (More) | Elon Musk's xAI to pay messaging app Telegram $300M to integrate xAI's Grok chatbot for one year (More) | Anthropic appoints Netflix cofounder to board (More)
> Joby Aviation shares rise nearly 29% after electric air taxi maker receives $250M from Toyota (More) | Hailey Bieber's skincare brand Rhode to be acquired by e.l.f. Beauty in up to $1B deal (More)
Politics & World Affairs
> Justice Department opens investigation into decade-old California law allowing transgender athletes to compete in sports teams aligning with gender identity (More) | Transportation Department moves to end program carving out $37B for women- and minority-owned businesses in highway, transit contracts (More)
> European Union lifts all non-security-related sanctions on Syria, following US decision to lift sanctions earlier this month (More) | See previous write-up (More)
> Swiss glacier collapses, burying almost the entire village of Blatten; 300-person town had evacuated earlier in the month at geologists' warning (More)
SOURCE: 1440 NEWS
Simplicity of Life
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Life for some is simple, for others it is complicated. Life is only complicated if you try to make it be what you want it to be, rather than just letting it happen and enjoying what happens around you as it unfolds.
For example, many people think that money, power, influence, position, assets will make you happy... It may provide you with a better lifestyle than others, but it will not make you happy.
My brother told me once that he was not retiring until he earned every last dollar that he could, then there would be nothing left for him to do except die.
IS THAT HAPPINESS?
Never being satisfied with how much money you have earned, always wanting or needing more...
That, in my opinion, is living a complicated life.
Life needs to be simple.
Earn what you can as best as you can - get whatever training you can afford...
then base your lifestyle on what you can afford...
Accept what you have - NOT WHAT YOU WANT.
Accepting what you have is YOUR CHOICE...
No one can make that decision for you and once you accept what you have, you will instantly realize you are happy... if you are still unhappy, then you have failed to accept what you have...
IT'S JUST THAT SIMPLE...
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