US Job Estimates Overstated

Hey there scroller🤳

Ready for another day’s headstart with some fresh news?

If your pal sent this to you, then subscribe to stay the most informed person in the room😉

BUSINESS & ECONOMY

🐸 US Economy Faces 'Boiling Frog' Crisis with $34 Trillion National Debt, JPMorgan Cautions

JPMorgan labels the U.S.'s $34 trillion debt as a "boiling frog" for the economy, with the Congressional Budget Office forecasting government expenses exceeding revenue by the 2030s. Despite this, cuts in discretionary spending remain unlikely. Michael Cembalest, JPMorgan strategist, warns, "Every round of fiscal stimulus brings the US one step closer to debt unsustainability," suggesting impending tax and entitlement program reforms.

📉 US Initially Overestimated 2023 Employment by 439,000 Jobs

The U.S. Bureau of Labor Statistics revised job reports, erasing 439,000 jobs through November 2023, suggesting a weaker job market. David Rosenberg highlights "an epic 443,000" downward revision, questioning the BLS's 'Birth-Death' model. This impacts market movements, Treasury yields, and Federal Reserve decisions, influencing U.S. consumers' finances. Previously, job growth was overstated by 306,000, underscoring a pattern of overreporting.

TOGETHER WITH BAY AREA TIMES

WORLD

🚨 Israel Signals Potential War Amid Escalating Hezbollah Conflict in Lebanon

Hezbollah struck an Israeli air traffic control base, escalating tensions amidst Israel's Gaza conflict. U.S. Secretary of State Blinken, warning of potential regional impact, said, "This is a conflict that could easily metastasize." Israel warns of war with Hezbollah, retaliating for a Hamas leader's killing. Amidst these hostilities, Blinken and Qatar are actively engaged in intricate hostage discussions with Hamas.

🚨 Norway Faces Lawsuit from Mass Murderer Breivik to Stop Solitary Confinement

Anders Behring Breivik, who killed 77 in Norway's 2011 attacks, contests his prison isolation for human rights violations, revealing he's "now suicidal" and reliant on antidepressants. The state insists on communication restrictions for security, to prevent his influence on potential violence. His case, under a potentially indefinite 21-year sentence, poses a challenge to Norway's rehabilitative justice system.

🔍 US Intelligence Reveals China's Military Corruption with Water-Filled Missiles.

US intelligence has disclosed significant equipment malfunctions in China's military, including missiles filled with water, leading to a major purge, including Defense Minister Li Shangfu. This issue, highlighting deep-rooted corruption in the PLA, particularly undermines Xi Jinping's emphasis on the Rocket Force, China's primary nuclear arm, and casts doubt on Beijing's military readiness and modernization strategy, especially in relation to Taiwan.

SCIENCE & TECH

🚀 Vulcan Rocket Set for Maiden Moon Lander Mission Launch

The Vulcan rocket, set to launch from Cape Canaveral, carries Astrobotic's Peregrine, a robotic spacecraft to the moon, marking a pivotal American lunar mission after 50 years. The Navajo Nation objects to human remains on Astrobotic's Peregrine lunar lander, calling it a "profound desecration" of the moon, revered in Indigenous cultures. NASA, not in charge of the mission's payloads, is organizing discussions with the Navajo Nation to address these concerns.

📺 Samsung Unveils Revolutionary OLED TV Eliminating Glare Issues

Samsung's latest S95D QD-OLED TV features a groundbreaking glare-free display, ensuring clear viewing even in bright light. This "OLED-optimized, low-reflection" technology, which includes a specialized coating, offers the brightest OLED screen from Samsung without affecting color or viewing angle. Up to 77 inches, it boasts AI-enhanced color accuracy and a sleek design with One Connect Box for easy connectivity.

SPORTS & ENTERTAINMENT

🏆 Golden Globes 2024 Winners Revealed in Full List

The 2024 Golden Globes, emerging from a scandal with new ownership, witnessed 'Oppenheimer' dominate the film categories and HBO's 'Succession' leading TV, each making significant wins with 5 & 4 awards respectively. 'The Bear' also impressed with three trophies. Notably, 'Barbie' received the inaugural award in the new cinematic and box office achievement category, marking a significant evolution in the event's history.

🏆 Barack Obama Awarded Creative Arts Emmy for Narrating 'Working: What We Do All Day'

Former President Barack Obama secured his fifth Emmy for narrating the Netflix series "Working: What We Do All Day," produced with Michelle Obama. The series, is inspired by Studs Terkel's "Working," how different jobs impact and connect people. Obama highlighted, “When we make sure everyone feels their work is respected... we reinforce the trust that makes everything in our lives possible.”

OTHER NEWS

🌨️ Nearly 70 Million Face Severe Weather Risk Due to Massive Winter Storm

Nearly 70 million people face severe weather threats, including tornadoes and flooding, across the Gulf Coast and Southeast. A fast-moving storm brings heavy snow and blizzard conditions from the Southwest to the Northeast. Over 50 million people are at risk today and Tomorrow. The Weather Prediction Center warns, "Widespread and potentially significant river and flash flooding are likely," with powerful onshore winds causing coastal flooding.

🚶 Iowa Students Plan Walkout to Capitol Following School Shooting, Vowing to Harness This Energy

In response to a fatal shooting at Perry High School, Iowa students, driven by fear and frustration, are planning a walkout to the state Capitol. Organized by March For Our Lives Iowa, they aim to protest lawmakers' inaction on gun violence. Akshara Eswar, a group leader, states, "Every day we walk into school never actually knowing what's going to happen."

🚒 Elderly Woman Rescued Alive from Japan Earthquake Rubble After Five Days

A 90-year-old woman was rescued in Japan, 124 hours after a 7.5 magnitude earthquake, highlighting the "golden period" in rescue operations. Trapped under rubble in Suzu City, Ishikawa, she was injured but communicative. The quake caused 126 deaths, and extensive damage, and led to Prime Minister Kishida imposing traffic restrictions for recovery.

THIS DAY THAT YEAR

On 8th January 1942, Stephen Hawking was born in Oxford, England. He significantly advanced black hole theory, merging quantum mechanics and relativity. Hawking's groundbreaking work included the concept of Hawking radiation, shedding light on the mysteries of black holes. He passed away in 2018.

Thanks for scrolling with us🤳

Want to share Daily Scroll with a Pal? Forward this email and invite them to join our community of savvy scroll-ers.

We'd love to hear your feedback on today's issue of Daily Scroll! Simply reply to this email and share your thoughts on how we can improve our content and format.

Have a great day, see you tomorrow🕺