⏱Everything is heating up

The Earth, the money printer, and the housing market

Good morning everyone! Treat yo self today — after all, it’s practically the weekend already.

0:04- Sometimes tying for first isn’t a good thing

• According to NASA, 2020 was tied for the hottest year on record — coming in a dead heat (hah) with 2016. This study was corroborated by the National Oceanic and Atmospheric Administration (NOAA), who came to the same conclusion in a separate report. This data comes even as there was an overall drop in greenhouse gas emissions, and cooler ocean currents, indicating that even maintaining the current levels could produce devastating results in the future. In 2020 alone, there were more acres burned in forest fires, and Atlantic storms than ever before.

0:29- Money printer go brrr

• Joe Biden announced his proposed stimulus package, entitled “The American Rescue Plan” last night. The price tag? $1.9 trillion dollars. That’s ... a lot of money. The plan will feature $1400 direct payments to Americans, an increase to $400 for federal unemployment, a $15 minimum wage, and aid for a variety of institutions as well. There may be Republican opposition to the plan for its budget, but some Senators such as Marco Rubio have already expressed support for portions of the plan.

  Quick intermission: If you’re loving today’s newsletter, would you mind sharing it with someone else who will also love it? It helps a lot! Thanks!

0:51- At least the housing industry has never been a problem, right?

• And there’s never been a movie about it either, thank god. Anyway, recent data released by the property analytics provider CoreLogic shows that more than 6.1% of all mortgages were delinquent (meaning more than 90 days late) in October. This number is more than 2.6% higher than in 2019, and while that’s troubling, what’s even more troubling is CoreLogic’s prediction that these missed payments could add up to a foreclosure crisis.

1:10- “Hey Google, how many steps have I taken?”

• Google officially acquired Fitbit today for $2.1Bn in a deal that was originally announced in 2019. But, there’s a catch — this acquisition hasn’t been approved by federal regulators yet, and could cost Google more than $400M in fines for proceeding without approval. Google claims that they’ve complied with all DOJ requests, and waited the appropriate amount of time, but only time will tell if they face consequences.

1:28- Oh, deer!

• When two men were fishing earlier this week they came across a baby deer trapped on a frozen lake. Naturally they risked life and limb on thin ice to go rescue him!

Have a great rest of your day, and we’ll see you tomorrow bright and early!

-The 90 Second News Team

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