DML Morning Briefing, Nov. 2

Today is November 2. Below are some of the stories grabbing headlines this morning. I hope you share this briefing as doing so will make you the smartest person in the room.

1.Fed expected to raise interest rates today
CNBC–The Fed is widely expected to announce a 0.75 percentage point rate increase, its fourth hike in a row of that size as it battles high inflation. Investors are also looking for a signal that the central bank is prepared to slow the pace of its rate-hiking plan come December.

Comments from the Federal Reserve and Fed Chair Jerome Powell will play a key role in deciphering where stocks go in the months ahead and whether markets kick off a fresh bull run.

DML: Joe Biden and the fed are professionals when it comes to destroying the economy built by Trump. So now in addition to high inflation you’re going to have to pay more for your credit cards and mortgage.

2.Hillary Clinton blames ill-informed Americans for rising GOP fortunes
DailyMail– Hillary Clinton has suggested that American voters may not ‘really understand’ the stakes of the upcoming midterm elections, as she argued that GOP gains in Congress could have dire consequences.

Clinton made the remarks in an interview on Tuesday with MSNBC host Joy Reid, who asked the former Democratic presidential nominee whether she believed voters grasped what Republican majorities in the House or Senate would mean.

‘I think that with all of the noise that we’ve gotten in this election season I don’t think that people are really able to grasp that,’ Clinton replied.

‘But more importantly, I’m not sure they really understand the threats to their way of life. They may think that whoever’s chairing a committee, you know, kind of abstract,’ she added.

DML: I will be speaking about this today on The Dennis Michael Lynch Podcast.

3.CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims – sources
Reuters–Nov 1 (Reuters) – CVS Health Corp (CVS.N), Walgreens Boots Alliance Inc (WBA.O) and Walmart Inc (WMT.N) have tentatively agreed to pay about $13.8 billion to resolve thousands of U.S. state and local government lawsuits accusing the chains of mishandling opioid painkillers, according to two people familiar with the negotiations.

The proposed settlement calls for CVS to pay $5 billion over 10 years, Walgreens to pay $5.7 billion over 15 years and Walmart to pay $3.1 billion, mostly up front, according to the people. The sources declined to be identified, saying they were not authorized to speak publicly about the matter.

CVS announced its portion of the deal, which includes $4.9 billion for state, county and city governments and $130 million for Native American tribes, Wednesday morning.

DML: Who gets the money? It’s useless. People are dead, and hooked on drugs. Why don’t we spend that money on attacking the cartels.

4.U.S. Justice Department charges ex-boxer with trafficking more than $1 billion in cocaine
FoxNews–A former boxer has been charged for his role in connection to the 2019 attempted smuggling of 22 tons of cocaine valued at more than $1 billion, the U.S. Justice Department announced.

Goran Gogic, of Montenegro, was taken into custody on Oct. 30 inside the Miami International Airport after he was indicted by a grand jury.

The 43-year-old was attempting to board a plane bound for Zurich during the time of his arrest.

DML: I repeat, when will we go after the cartels?

5.1 in 5 deaths of US adults 20 to 49 is from excessive drinking, study shows
CNN–A beer, glass of wine or cocktail may feel so common place that you don’t even think about pouring another, but a new study suggested it may be important for everyone to be mindful of their alcohol use.

An estimated 1 in 5 deaths of people ages 20 to 49 were attributable to excessive alcohol use in the United States, according to the study published Tuesday in JAMA Network Open. For people ages 20 to 64, drinking-related deaths accounted for 1 in 8, the study said.

The percentage of deaths attributed to alcohol use varied state by state, but nationally it’s a leading cause of preventable death, said lead study author Dr. Marissa Esser, lwho leads the US Centers for Disease Control and Prevention’s alcohol program.

DML: This is a huge challenge considering Joe Biden is driving us all to drink.