Thousands of Colorado residents found themselves locked out of their smart thermostats during sweltering temperatures last week in an effort to prevent power demand from overwhelming the grid.
A utility company locked thousands of customers out of their smart thermostats in Colorado
On August 22, oral arguments ended in the Justice Department’s antitrust trial to block the book publisher Penguin Random House from merging with rival Simon & Schuster. The result of the trial, which is expected to be decided later this fall, will have a massive impact on both the multibillion-dollar book publishing industry and on how the government handles corporate consolidation going forward. Perhaps fittingly for a case with such high stakes, the trial was characterized by obfuscation and downright disinformation nearly the whole way through.
Book publishers just spent 3 weeks in court arguing they have no idea what they’re doing
The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not. Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive quarters, and so ‘technically’ (by that definition) was in a recession. Real GDP is now up only 1.6% from Q2 2021. And business investment is slowing, up only 3.5% from this time last year, the slowest rate since the end of the COVID slump in 2020.
Calling a recession and blaming it on interest rates
Inflation Is Already Here—For the Stuff You Actually Want to Buy
The pandemic provided inflationary pressure by restricting supply, so when demand rose—for example, for eating out as the lockdown eased—prices rose sharply. And because Covid-19 has intensified the U.S.-China trade war and the trend toward deglobalization, supply could be constrained for a long time.
The pandemic also creates deflationary pressure, hitting demand as people socially distance, leading to job losses and corporate cutbacks.
Ms. Cat’s Chronicles 
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