1) Fear in American society is apparent with the soaring gun sales for this last year. Measuring, by using the Federal background checks, there have been 4.3 million checks for 2021 vs. 2.7 million for 2020. About 60% of these buyers are new buyers of guns, and about 40% are women. Sales have been so heavy that gun shops are closing because they don’t have any inventory, with people buying two and three guns at a time. The high sales are driven by fear of social unrest, rioting in major cities across the country lasting weeks on end, and fears of suppression of gun ownership by the new administration. Also, people don’t feel they can rely or trust the police to protect them anymore. Additionally, ammunition of all types has been sold out across the land.
2) The global microchip shortage for automobiles continues to spread with the next victim being Ford’s most profitable truck, the F-150 pickup. Many companies have scaled back car production because of the computer chip shortage. Ford is temporarily cutting the number of shifts in its truck production plants in half. Microchip shortages has Volkswagen production limited, and Honda and GM have also had to cut back. Nissan and Toyota have had to slow their truck production lines as well. Ford has already limited production of other models, the Escapes and Lincoln Corsairs. Modern cars have computer systems for almost every component these days, from digital speedometers to vital vehicle functions like controlling emissions and emergency brake systems. The microchip shortages isn’t confined to automobiles with manufactures of telephones, computers, appliances and home entertainment systems feeling the pinch too.
3) Unemployment agencies across the country were flooded with so many claims during the pandemic that many struggled to distinguish the correct from the criminal. Some Americans are receiving tax forms saying they owe money on unemployment benefits they never received. This is an indication of the extent of identity theft in the nation’s state run unemployment systems. Unemployment benefits are taxable, so government agencies must send a tax form to people who received them, and some Americans are receiving tax forms saying they owe money on unemployment benefits they never received. State run unemployment offices are lucrative targets for fraud particularly when the agencies are swamped with applications and not having the time and resources to check. This signals that someone has likely stole personal information and used it to claim benefits, but that data may later be used to steal an identity for more fraud. Nearly 26 million people requested unemployment aid in the initial months after states began ordering shutdowns due to the pandemic.
4) Stock market closings for – 9 DEB 21:
Dow 31,375.83 down by 9.93
Nasdaq 14,007.70 up by 20.06
S&P 500 3,911.23 down by 4.36
10 Year Yield: down at 1.16%
Oil: up at $58.39