“Uncertainty has seldom been higher…oddly, neither has the stock market,” warns Inker, the firm's head of asset allocation, adding that GMO slashed its stock exposure in its flagship Benchmark-Free Allocation Strategy from 55% in March to just 25% by the end of April. “We are in the top 10% of historical price earnings ratio[s] for the S&P on prior earnings and simultaneously are in the worst 10% of economic situations, arguably even the worst 1%!” adds Grantham, the company's co-founder. After the trauma of the last few months the economic risks hardly need much repeating, but as markets soar they are at least worth remembering.
- U.S.ABC News
Following Obama, Clinton and Bush, former president Jimmy Carter issues a statement on George Floyd protests
Former President Jimmy Carter has become the latest and final living president to weigh in on the nationwide protests after the killing of George Floyd while he was in police custody. In a statement released by The Carter Center Wednesday, the oldest living president said he and his wife, former first lady Rosalynn Carter, are "pained by the tragic racial injustices and consequent backlash across our nation in recent weeks." While Carter said "our hears are with the victims’ families and all who feel hopeless in the face of pervasive racial discrimination and outright cruelty," he also said that violence is not the answer, as some protests nationwide have turned destructive.
- WorldThe Telegraph
Putin declares a state of emergency after 20,000 tons of diesel oil leak into Arctic river due to climate change
Vladimir Putin declared a state of emergency after more than 20,000 tons of diesel fuel spilled into a river in the Russian Arctic. Several miles of the Ambarnaya river were turned red after a fuel tank at a power plant in Norilsk, an industrial city in northern Siberia, collapsed on Friday. Mr Putin berated regional officials for their slow response in a Zoom call broadcast on state television on Wednesday. "Why did government agencies only find out about this two days after the fact?" he asked Sergei Lipin, the head of the subsidiary that runs the plant. "Are we going to learn about emergency situations from social media?" Yevgenny Zinichev, the head of the Emergencies Ministry and and Alexander Uss, the governor of Krasnoyarsk Krai said that they only learnt about the spill on May 31, two days after it occurred and established a true picture of the situation "only after information on social media." Mr Uss said officials were considering burning the oil off, but that there was no precedent for attempting to do so on such a large scale and it was not clear if it would succeed. The power plant is a subsidiary of Norilsk Nickel, the world's largest producer of nickel and palladium. The company said in a statement that no one had been hurt by the accident and that it had deployed emergency teams to clean up the spill. It said the spill appeared to have been caused by "a sudden sinking of supporting posts in the basement of the storage tank" and that it was reviewing the threat of melting permafrost at other storage facilities. Russia's investigative committee, its rough equivalent of the FBI, has opened a criminal investigation. The head of the power plant has been taken into custody but has not been charged.
Sorry, summer diet.From Delish
- CelebrityLA Times
After Lea Michele apologized for her on-set behavior, her former "Glee" costars aren't letting it slide. Even a producer for the TV show has chimed in.
- LifestyleIn The Know
Sometimes the people you live next to really challenge the sentiment of "Love thy neighbor" — but what if they're family?
- U.S.The New York Times
SEATTLE -- A black man who called out "I can't breathe" before dying in police custody in Tacoma, Washington, was killed as a result of oxygen deprivation and the physical restraint that was used on him, according to details of a medical examiner's report released Wednesday.The Pierce County Medical Examiner's Office concluded that the death of the man, Manuel Ellis, 33, was a homicide. Investigators with the Pierce County Sheriff's Department were in the process of preparing a report about the March death, which occurred shortly after an arrest by officers from the Tacoma Police Department, said the sheriff's spokesman, Ed Troyer."The information is all being put together," Troyer said. "We expect to present it to the prosecutor at the end of this week or early next week."Ellis's sister, Monet Carter-Mixon, called for action to bring accountability in the death and further scrutiny of both the Police Department's practices and how the investigation into his death has been handled."There's a lot of questions that still need to be answered," Carter-Mixon said.Ellis died from respiratory arrest, hypoxia and physical restraint, according to the medical examiner's office. The report listed methamphetamine intoxication and heart disease as contributing factors.Police officers encountered Ellis, a musician and father of two from Tacoma, on the night of March 3 as they were stopped at an intersection. They saw him banging on the window of another vehicle, Troyer said.Ellis approached the officers, Troyer said, and then threw an officer to the ground when the officer got out of the vehicle. The two officers and two backup officers who joined -- two of them white, one black and one Asian -- handcuffed him."Mr. Ellis was physically restrained as he continued to be combative," the Tacoma Police Department said in a statement Wednesday.Troyer said he did not know all the details of the restraint the officers used -- they were not wearing body cameras -- but said he did not believe they used a chokehold or a knee on Ellis' neck. They rolled him on his side after he called out, "I can't breathe.""The main reason why he was restrained was so he wouldn't hurt himself or them," Troyer said. "As soon as he said he couldn't breathe, they requested medical aid."Troyer said the call for aid came four minutes after the officers encountered Ellis.Ellis was still breathing when medical personnel arrived, Troyer said. He was removed from handcuffs while personnel worked on him for about 40 minutes, Troyer said. He was then pronounced dead.Family members said Ellis was the father of an 11-year-old son and 18-month-old daughter. He was a talented musician at his church. Carter-Mixon said Ellis was like a father figure to her boys, coaching them on things like how handle themselves to keep safe in a world of racial injustices."My heart literally hurts," she said. "It's painful. My brother was my best friend."On Wednesday night, she and others held a vigil in Tacoma.Brian Giordano, a close friend of Ellis, said that the two usually spoke several times a day and that Ellis had videochatted with him two hours before his death. He had been excited about a church service he had attended and proud of how he had played drums during the service, Giordano recalled.He said it would be uncharacteristic of Ellis to act in the violent way described by the police.He was living in a clean-and-sober house and was getting his life back together, he said. "He was always uplifting," Giordano said. "He was always on the up-and-up about taking care of people."The death comes as protests have spread around the nation over the case of George Floyd, a black man who died in the custody of Minneapolis police last week. Minnesota officials have charged all four officers in that case, including Derek Chauvin, who kept his knee on Floyd's neck for nearly nine minutes during the arrest.Forensics experts who conducted a private autopsy for Floyd's family concluded that another officer's knees on Floyd's back contributed to making it impossible for his lungs to take in sufficient air.Mayor Victoria Woodards of Tacoma said Wednesday that she would take appropriate steps based on the findings of the sheriff's investigation."We will learn the results of that investigation even as our country reels from the recent killings of George Floyd, Breonna Taylor, Ahmaud Arbery and too many others," Woodards said.Gov. Jay Inslee of Washington said the issue was a top priority for him."We will be pushing to make sure there is a full and complete investigation of that incident," Inslee said.This article originally appeared in The New York Times.(C) 2020 The New York Times Company