Daily Archives: August 11, 2021

Tornado CEO: There’s a ‘crisis in investing education’ – Yahoo Finance

Posted: August 11, 2021 at 12:46 pm

There's a "crisis in investing education," according to mobile trading app Tornado's CEO and co-founder Bernard George.

"Every week, there are headlines about young investors, gambling on penny stocks and options, and even bankrupt companies. And our view is that the only way to really solve that problem is to make smart investing highly engaging, so it becomes that path of least resistance for people," George told Yahoo Finance Live on Tuesday.

With more time spent at home during the pandemic and the rise of no-fee trading, most notably Robinhood (HOOD), there's been an influx in first-time investors and traders.

However, George believes "the key question" for retail investors is "does your brokerage help you invest better?"

"And I think for a lot of investors, unfortunately, the answer is 'no,'" George added.

"[As] a lot of new investors enter the market, obviously there's a need for education and the ability to take that next step. And democratization of access to markets has been a wonderful, amazing thing. It's just left a lot of people in that state where they're looking for that next step, and how do I continue my journey towards becoming a better investor?"

According to George, Tornado's online brokerage centers around community through its social investing platform allowing for "meaningful conversation" with investors at all skill levels, curated and personalized educational content from "leading voices," and "world-class analytical tools." Tornado charges a $4.99 monthly subscription fee and allows for 25 commission-free trades, which creates "incentive alignment."

Tornado co-founder Bernard George

"[I] think because we've all learned over the past months and years, unfortunately, free trading isn't really free. It comes with a lot of conflict, and a lot of these brokerages, which rely on payment for order flow unfortunately have an incentive to direct users towards riskier, penny stocks and options, implicitly or explicitly. So, the brokerage model that we have with the subscription really does align the incentives with our community," George added.

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Tornado app

Initially founded in 2015 as Nvstr, the brokerage app rebranded last month as Tornado and announced a $10 million seed funding round led by former professional baseball player-turned-investor Alex Rodriguez, billionaire e-commerce entrepreneur Marc Lore, Barstool Sports founder Dave Portnoy, and New Enterprise Associates managing general partner Tony Florence. George noted that the seed investors bring a common thread of a "real passion for advancing financial wellness and investor education."

The proceeds from the seed round will go toward "scaling the platform tremendously in terms of the community" and "staying laser-focused" on the mission of "helping people take that next step in their journey towards becoming a better investor."

So far this year, George said Tornado has seen "a huge acceleration in growth and engagement," with a 68% increase in engagement rates on the platform.

"A lot of that I think is really telling of the appetite out there for content and community that helps you sort of take that next step in your journey towards becoming a better investor," he added.

Julia La Roche is a Correspondent at Yahoo Finance. Follow her on Twitter.

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Happy Birthday Mr. President: Barack Obama Celebrated His 60th With Celebrities… And Weed! – Yahoo Finance

Posted: at 12:46 pm

By Franca Quarneti via El Planteo.

Barack Obama, the former president of the United States, turned 60 and he celebrated with fancy decorations, friends and... marijuana!

The epic celebration took place on Saturday night at the Obama's mansion in Martha's Vineyard, Massachusetts and was attended by 300 exclusive guests, reported The Hill.

Beyonc, Jay-Z, H.E.R, John Legend, Chrissy Teigen, Gabrielle Union and Dwyane Wade, Trap Beckham, TJ Chapman and Erykah Badu were among the stars who gave the present, according to USA Today.

Leaked Images And Giant Blunts

Despite strict rules prohibiting the release of images on social media, some guests such as rapper Trap Beckham, singer Erykah Badu and manager TJ Chapman showed photos of the menu and decor. The snapshots showed napkins embossed with the text "4460" in gold lettering.

Why? Because Obama was the 44th president of the United States and because he turned 60.

Among the leaked photos, Trap Beckham and TJ Chapman could be seen smoking huge marijuana blunts. It is that, in the state of Massachusetts, the consumption of cannabis is legal.

"I had to delete everything because of the regulations. It was decidedly epic. If the videos transcended, they would go viral. He danced the whole time. No one has ever seen Obama like that before," Beckham commented on his social media.

However, the former president was harshly criticized for the lack of masks at his party and for the number of guests (originally there were 475 attendees, but the number was reduced due to the spread of the Delta variant of the coronavirus).

Photo: History in HD va Unsplash

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Rihanna enters billionaires club but it’s not her music that got her there – Yahoo Finance

Posted: at 12:46 pm

Rihanna has entered the billionaires club.

According to Forbes, the 33-year-old is now worth a whopping $1.7 billion making her the wealthiest female musician, and second only to Oprah Winfrey, as the richest female entertainer.

Although many know Rihanna for her music from hit singles "Umbrella" and "Where Have You Been" to "We Found Love" and "Work" she actually achieved the bulk of her income through her fashion and beauty brands.

Fenty Beauty, which launched in 2017, has contributed the most to the singer's wealth an estimated $1.4 billion, Forbes said.

The cosmetics company gained instant fame for its inclusivity of all skin tones, generating more than $550 million in annual revenue in its first calendar year. At the time, Fenty Beauty was one of the first (and most notable) brands to introduce a variety of foundation shades, and was especially popular among women of color.

The brand, currently sold online and at Sephora locations nationwide, is a 50-50 joint venture between Rihanna and fashion powerhouse LVMH (LVMUY) the conglomerate behind luxury brands like Christian Dior and Louis Vuitton.

In recent years, there's been an explosion of celebrity beauty brands with Kim Kardashian, Kylie Jenner, Jessica Alba and Lady Gaga all putting their names behind big makeup and skincare lines.

However, Rihanna is the most successful among the A-list pack, according to Forbes.

LOS ANGELES, CALIFORNIA - OCTOBER 1: Rihanna attends the second press day for Rihanna's Savage X Fenty Show Vol. 2 presented by Amazon Prime Video at the Los Angeles Convention Center in Los Angeles, California; and broadcast on October 2, 2020.

Besides Fenty Beauty, Rihanna also heads a successful fashion and lingerie company, Savage X Fenty.

Launched in 2018, the brand recently raised $115 million in funding bringing its valuation to over $1 billion. Rihanna maintains a 30% ownership stake, Forbes estimates.

The singer's success speaks to the larger story of female entrepreneurs, especially within Hollywood.

On Monday, Oscar-winning actress Reese Witherspoon reached an agreement to sell her production house Hello Sunshine to a Blackstone-backed media company. The New York Times said the deal valued Hello Sunshine at roughly $900 million.

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Meanwhile, Kim Kardashian was crowned a billionaire in April.

Forbes listed the reality star in its annual "World's Billionaire List" report, citing her lucrative businesses, KKW Beauty and loungewear company Skims, as catalysts for her billionaire status, in addition to extra cash from her reality series "Keeping up with the Kardashians" and endorsement deals.

Alexandra is a Producer & Entertainment Correspondent at Yahoo Finance. Follow her on Twitter @alliecanal8193

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Facebook’s (NASDAQ:FB) US and EU Growth has Peaked and Advertising Revenue is under Pressure from Competitors – Yahoo Finance

Posted: at 12:46 pm

This article was originally published on Simply Wall St News

As you might know, Facebook, Inc. ( NASDAQ:FB ) just posted their latest second-quarter results with some very strong numbers. When looking at the company, three things come to mind. The "sell high" part from the clich phrase "buy low, sell high", diminishing future growth rates, and very high margins.

Let's open up with margins, because when you look at them, they are quite hard to wrap one's head around:

ebit-margin-ttm

From the chart above, we can see that Facebook has been regaining profitability in the last two years, this seems to be due to daily active user growth on a global scale, an increase of average dollars per user and the general expansion in Asia Pacific and the rest of the world.

You will also notice, that below I start making some quite pessimistic points, I would however, like to comment that Facebook has impeccable free cash flows, and on-point cash outflows regarding investing and financing. They prioritize R&D spending, which is exactly what investors would like to see in a tech company : Heavy capital and research & development investments. On a qualitative note, their advertisement platform has improved in functionality and efficacy quite a bit from a year ago, and their global reach has stayed in a leading position with the contributions from Instagram and WhatsApp.

Now let's see how Facebook has been growing thus far and what challenges lie ahead.

fb-daily-active-users

The chart above is interesting as it already showcases the stagnation of US and European daily user growth. You can find these results in their Q2 quarterly report. Facebook's CFO comments that there might be a bump in the future:

"In the third and fourth quarters of 2021, we expect year-over-year total revenue growth rates to decelerate significantly on a sequential basis... (We) expect increased ad targeting headwinds in 2021 from regulatory and platform changes, notably the recent iOS updates, which we expect to have a greater impact in the third quarter..."

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What we can incorporate from this, is that US and EU revenues will be under pressure, as iOS users will be given a choice to turn tracking on and off, which is estimated to diminish the returns from advertising. It won't be directly impacted per se, it's the ad targeting algorithm that is under threat, and Facebook will have to find a different heuristic or alternative approach to increase advertising revenue per user. US and EU users are particularly important, because they bring in US$51.5 and US$17.2 respectively per user, versus the world average of US$9.95.

This is partly the reason why the stock may be approaching a peak - Yes, there is still upside, but investors are now involved with a timing issue as the primary question starts being "When?", rather than "If?".

Now, we will take a step back and put history in context with analysts forecasts for the future.

Q2 earnings represented an overall positive result, with revenues beating expectations by 4.2% to hit US$29b. Facebook also reported a statutory profit of US$3.61, which was an impressive 20% above what the analysts had forecasted.

View our latest analysis for Facebook

earnings-and-revenue-growth

Following the latest results, Facebook's 45 analysts are now forecasting revenues of US$119.2b in 2021. This would be a meaningful 14% improvement in sales compared to the last 12 months. Statutory earnings per share are predicted to increase 2.9% to US$14.09.

The analysts reconfirmed their price target of US$414.

Facebook is and continues to be a high margin, cash delivery company. However, the financial market is a forward-looking weighing machine, and the future suggests a possible change in direction.

The company is stable and competently managed. Future challenges imply a revision of advertising practices, discovering new heuristics or improving on the existing algorithm, delivering further growth from the developing world and maintaining user engagement without sacrificing on margins.

For investors that had a very good run thus far, it is hard to ask for pause, but the past does not dictate, and I post two "common sense" questions:

Will the future bring more people to Apple's iOS? (look at the performance of the new iPhone)

When talking to people, are they bragging or trying to hide their time spent on any of Facebook's platforms?

The consensus price target held steady at US$414, with the latest estimates not enough to have an impact on their price targets.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Facebook going out to 2023, and you can see them free on our platform here.

Simply Wall St analyst Goran Damchevski and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Facebook's (NASDAQ:FB) US and EU Growth has Peaked and Advertising Revenue is under Pressure from Competitors - Yahoo Finance

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How Europe soured on the AstraZeneca vaccine – Yahoo News

Posted: at 12:46 pm

BARCELONA Initially hailed as the vaccine for the world when it appeared on European shores early this year, the Oxford/AstraZeneca COVID inoculation, which was created in just 65 days and costs around $2 a dose, far below competing shots made by Pfizer and Moderna, held the promise of turning the tide on the pandemic.

But after eight months of mounting frustration over still undelivered doses along with worries over rare associated blood clots, studies showing that it wasnt as effective as other vaccines and a court action alleging the drug company was in breach of contract, the European Union is all but ditching the shot.

The story behind the AstraZeneca vaccines European sojourn has been rife with putdowns, broken promises, rancor and vaccine nationalism that at times looked like it would turn into an export war between the EU and the U.K., the country that at the end of 2020 Brexited leaving the European Union it helped create.

Even before AstraZenecas shot came to market, Russian officials were indulging in crudely comical insults, calling it the monkey vaccine. (Kremlin spokesman Dmitry Peskov claimed in September that, unlike Russias vaccine Sputnik V, the AstraZeneca drug, which is derived from a chimpanzee adenovirus, would turn those who got it into simians.)

Such narratives are apparently directed at countries where Russia wants to sell its own vaccine, EU official Joseph Borrell said in blog post about what he considered to be Russian disinformation.

Empty vials of the AstraZeneca COVID-19 vaccine. (Matthias Schrader/AP)

But there were more credible sources of criticism from the start. Dr. Anthony Fauci made waves in November, saying AstraZenecas vaccine presented a dilemma: While preliminary studies showed the Pfizer and Moderna vaccines provided protection against COVID-19 by upwards of 90 percent, AstraZeneca appeared to have efficacy rates around 70 percent higher than the 50 percent deemed necessary for vaccines to work, but relegating it to runner-up status compared to the mRNA vaccines.

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Who are you going to give a vaccine like that to? Fauci asked, and he and his colleaguesat the National Institutes of Health questioned the data included in AstraZenecas clinical studies submitted in the U.S., effectively telling them to try again.

The original clinical studies confusingly employed trials using two dosing schedules and two different doses of the drug. The larger trial, among the studies which AstraZeneca submitted to the U.K., showed efficacy of 60 percent and in late December was swiftly granted emergency use approval. Following suit, the European Medicines Agency also approved its use for all adults in the EU while noting that the trials did not include enough results in participants over 55 years of age. But the health authorities in a dozen European countries, including Germany and France, refused to grant the vaccine approval for anyone over the age of 65, a decision that quickly led to confusion and mistrust. The German newspaper Handelsblatt incorrectly reported that the vaccine was only 8 percent effective for those 65 and older, a rumor that spread.

In January, French President Emmanuel Macron dealt another blow, erroneously calling the AstraZeneca vaccine quasi-ineffective for people over 65, some say those 60 years or older. Though he did reverse that assessment a month later, the damage was done. The French, who were given a choice as to which shot they wanted, were choosing Pfizer over AstraZeneca in far greater numbers a situation which prompted the head of Frances doctors union to urge the French to stop AstraZeneca bashing.

British Prime Minister Boris Johnson receives his second dose of the AstraZeneca vaccine, June 3, 2021. (Matt Dunham/Pool via AP)

Adding to AstraZenecas woes, the company had promised to ship 90 million doses of the vaccine to the EU in the first quarter of 2021, but less than a third of that number showed up. As a result, the continents vaccine program for its 445 million citizens looked pathetic, particularly in comparison to the U.K., which appeared to be swimming in the British-made immunization.

AstraZeneca has unfortunately underproduced and underdelivered and this painfully, of course, reduced the speed of the vaccination campaign, Ursula von der Leyen, president of the European Commission, announced in March, promising that whatever it took, the EU would get its fair share of the AstraZeneca inoculation.

By March, less than 10 percent of Europeans had been vaccinated, while the U.K. was approaching 45 percent immunization levels. And then Germany reported that of the 2.7 million Germans who had received the AstraZeneca vaccine, 31 people, most of them young women, had developed rare blood clots, and nine had died.

Countries across Europe slammed on the brakes, suspending use until the European Medicines Agency investigated. The EMA soon reported that while there appeared to be a link to blood clots, the risk was minimal and certainly less than the danger of COVID-19 itself. However, health authorities in Germany, Italy, Spain, Belgium and beyondthat had earlier advised the shot shouldnt be used in those over 55 or 65, in March reversed their positions and said the vaccine should now be used only for those over 60. Those flip-flops further undermined public trust. (A recent study found that both AstraZeneca and Pfizer vaccines could both produce blood clots, but that COVID-19 produced more clots than either vaccine.)

That month, health authorities in Denmark, then Norway, followed by Austria in May stopped using AstraZeneca altogether, while those countries that were relying on it continued to experience shortages due to delivery delays; Spain, for one, was forced to temporarily halt its vaccination programs. AstraZeneca revised second-quarter delivery estimates downward from 180 million doses to just 70 million.

Upon learning that some AstraZeneca vaccines were being made in Europe and exported to other countries, the EU threatened to ban exports and raided a plant in Belgium in February and another in Italy in March, generating more embarrassing headlines and doing little to alleviate supply shortages.

People receiving the AstraZeneca vaccination in Cologne, Germany on May 8, 2021. (Martin Meissner/AP)

In May, after signing eight additional contracts with other pharmaceutical countries, the EU announced it would be taking AstraZeneca to court, and demanded 90 million more doses by July and $12 million in damages for delayed deliveries. AstraZeneca, which called the suit unfounded, countered that it had lived up to its contractual obligation to make the best reasonable effort to deliver the doses.

Ruling in June, the court largely sided with AstraZeneca, saying the drugmaker was obliged to deliver only 50 million more doses to the EU by September. By then, after 65 million EU citizens had been vaccinated with AstraZeneca, the EU was fed up; it declined to put in additional orders with the British-Swedish firm and across the continent, health authorities began phasing out the drugs use.

Along with other European countries, Germany announced that it would start mixing vaccines, a practice currently not approved by the World Health Organization. The first AstraZeneca shot that German Chancellor Angela Merkel received was followed up by a dose of Modernas mRNA vaccine, a practice that Germanys health minister said yielded clearlysuperior results than two doses of AstraZeneca. Italian Prime Minister Mario Draghis AstraZeneca jab was followed up with a shot from Pfizer. Overlooking pleas from the WHO to forestall booster shots until poorer countries are immunized, Germany will offer a third shot of an mRNA vaccine in September to elderly and immune-compromised citizens and to those who received two shots of AstraZeneca.

On the heels of learning that the EU will now be relying on mRNA vaccine, Pfizer and Moderna both announced price hikes. As reported by Financial Times, Pfizers price per shot is jumping to around $23 from $18.50, while Modernas is increasing to around $25.50 a jab from $22.60.

Meanwhile, millions of doses of AstraZenecas shots from European countries are being donated to COVAX and to low-income countries, where health officials say it can still help defeat the pandemic.

Boxes of AstraZeneca COVID-19 vaccine arrive at the airport in Mogadishu, Somalia, on March 15, 2021.(Farah Abdi Warsameh/AP)

The AstraZeneca vaccine has the potential to be the real workhorse of immunization programs, Jonathan Kennedy, a public health lecturer at Queen Mary University of London, told Yahoo News. Its cheaper than the other vaccines, and its easy to transport. And without the extreme temperature requirements of mRNA vaccines such as Pfizer, which is kept at 94 degrees below zero Fahrenheit, he added, Its easy to store.

With only 1.1 percent of populations in low-income countries having received at least one shot, the WHO is now calling for vaccinations of at least 10 percent of the population of every country in the world by September, at least 40 percent by the end of the year, and 70 percent by the middle of next year, Dr. Siddharta Datta, regional adviser to the WHO/Europes Vaccine-Preventable Disease program, told Yahoo News. These are the critical milestones we must reach together to end the pandemic, and AstraZeneca vaccine doses together with the other available and approved vaccines will indeed play an important role in achieving them.

Earlier this summer, the EU announced it wouldnt be ordering any more of the AstraZeneca vaccine, and countries across the continent say they have begun donating unused vials to COVAX, a global coalition that distributes vaccines to countries around the world.

British media is portraying Europe as having squandered its AstraZeneca riches, while some politicians are accusing the EU of making a scapegoat of AstraZeneca to cover up their own failures.

The European leaders who trashed the AstraZeneca vaccine have blood on their hands, one unidentified politician, concerned that other countries may now reject it, is quoted as telling Politicos London Playbook.

A Malawian policeman guards AstraZeneca COVID-19 vaccines after a shipment arrived at the Kamuzu International Airport. (Thoko Chikondi/AP)

As of this month, the AstraZeneca shot makes up some two-thirds of the vaccines being supplied by COVAX, doses donated by countries and some donated by the drug maker itself.

AstraZenecas vaccine is highly effective against severe disease and hospitalization across all adult age groups, a spokesperson for the drug company told Yahoo News. It has demonstrated a high level of protection against all variants of concern and its overall safety profile is comparable to other vaccines.

Our vaccine is being supplied at no profit and is truly a vaccine for the world, the AstraZeneca spokesperson continued. We have now crossed the 1 billion dose milestone supplying more than 170 countries, and those doses have helped to save tens of thousands of lives. We are doing more than any other company to make the vaccine available to low- and lower-middle-income countries, as it is only through providing broad and equitable access to vaccines that we can end this pandemic.

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Work for the abolition of nuclear weapons | Letters To Editor | union-bulletin.com – Walla Walla Union-Bulletin

Posted: at 12:45 pm

This week, we mourn the hundreds of thousands who died as a result of the making, testing, and dropping of the two atomic bombs on Hiroshima and Nagasaki. We do so amid an ever-increasing arms race among the nine nuclear nations. Our own country has committed 1.7 trillion to upgrading our nuclear stockpiles.

In 1977, six years after releasing the Pentagon Papers, when he was part of a Continental Walk for Disarmament and Social Justice, Daniel Ellsberg wrote: "At this moment, the likelihood that our life will long survive on this planet seems less than that it will not. Yet it is not less it could hardly be than the likelihood, billions of years ago, that we would be here today, that there would ever be on this particular planet any human life to be risked, to be lived and used."

Forty-four years later, the likelihood of our survival is certainly less. We cannot coexist with nuclear weapons. We must get rid of them before they get rid of us. As Ellsberg suggests, it took a miracle to get us here and will take another one to keep us here.

Work for the miracle. Work for the abolition of nuclear weapons.

Patrick Henry

Walla Walla

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Catholics must act on Francis’ mandate to abolish nuclear weapons – National Catholic Reporter

Posted: at 12:45 pm

(Pixabay/Cristian Ibarra)

During his historic visit to Hiroshima and Nagasaki in 2019, Pope Francis declared that "the use of atomic energy for purposes of war is immoral, just as the possessing of nuclear weapons is immoral."

The pontiff said the world "must never grow weary of working to support the principal international legal instruments of nuclear disarmament and non-proliferation, including the Treaty on the Prohibition of Nuclear Weapons."

Francis' pronouncement was clear: The very possession of nuclear weapons is immoral! Therefore, if it is wrong for followers of Jesus to possess nuclear weapons, then it is equally wrong to build and modernize them, let alone use them.

The Biden administration is requesting $43 billion for nuclear weapons in its budget for fiscal year 2022. During this Aug. 6-9 period commemorating the 76th anniversary of the U.S. nuclear bombings of Hiroshima and Nagasaki, should not all Catholics, including President Joe Biden and all other Catholic politicians, be following the lead of Francis in advocating for total nuclear disarmament?

Instead of advocating for this exorbitant nuclear expenditure a continuation of the last two presidents' projected $1.7 trillion upgrade of the U.S. nuclear arsenal that will span several decades Biden should provide bold leadership to bring about total nuclear abolition and redirect all nuclear and other military expenditures to meet urgent human needs.

In his 1976 World Day of Peace Message, Pope Paul VI described the atomic bombings of Japan as "a butchery of untold magnitude." During the ceremony that awarded the 2017 Nobel Peace Prize to the International Campaign to Abolish Nuclear Weapons (ICAN), Setsuko Thurlow, Hiroshima survivor and ICAN member, spoke these words in her acceptance speech:

I speak as a member of the family of hibakusha those of us who, by some miraculous chance, survived the atomic bombings of Hiroshima and Nagasaki. For more than seven decades, we have worked for the total abolition of nuclear weapons. ... We were not content to be victims. We refused to wait for an immediate fiery end or the slow poisoning of our world. We refused to sit idly in terror as the so-called great powers took us past nuclear dusk and brought us recklessly close to nuclear midnight. We rose up. We shared our stories of survival. We said: humanity and nuclear weapons cannot coexist.

Today, I want you to feel in this hall the presence of all those who perished in Hiroshima and Nagasaki. I want you to feel, above and around us, a great cloud of a quarter-million. ...souls. Each person had a name. Each person was loved by someone. Let us ensure that their deaths were not in vain. ... The development of nuclear weapons signifies not a country's elevation to greatness, but its descent to the darkest depths of depravity. These weapons are not a necessary evil; they are the ultimate evil.

Pope Francis participates in a moment of silence at the Hiroshima Peace Memorial in Japan in 2019. "The use of atomic energy for purposes of war is immoral, just as the possessing of nuclear weapons is immoral," the pope said during that visit. (CNS/Paul Haring)

In the U.S., a nation that has legally sanctioned the use of nuclear weapons and relies on them for its ultimate security, what would Jesus have us do? Clearly, Jesus teaches that we must place our trust in God, not in the nuclear idol, for our true security. He calls us to disarm our hearts of fear, hate, racism and greed. He instructs us to forever put away the sword, love unconditionally and renounce all killing.

Due to the existential threats posed by both nuclear weapons and the climate crisis, the Bulletin of the Atomic Scientists has now turned its Doomsday Clock to 100 seconds before midnight. The U.S. possesses nearly 5,500 nuclear weapons, many of which are on hair-trigger alert. The U.S. refuses to adopt a no-first use policy.

With the very future of human survival and our planet's existence at stake, how can we avert global catastrophe and make disarmament a reality for our time? First and foremost, we must have the faith, courage, and will to believe that total nuclear disarmament can occur. If we are to take seriously the magnitude of the nuclear threat and the admonitions of Francis and the hibakusha, we must risk taking action that is commensurate with the colossal threat we face.

Can followers of Jesus be employed in nuclear weapons-related work? Christians who work to produce and upgrade nuclear weapons, or who are otherwise involved in their potential use today face a serious faith and moral dilemma. The following insights from Catholic peacemakers serve to counsel us on this matter.

Jesuit Fr. Richard McSorley stated: "It's a sin to build a nuclear weapon. We cannot seriously imagine Jesus pushing the button to launch a nuclear bomb, or registering for the draft, or wearing the uniform of any national state, or paying taxes for nuclear weapons, or working in a plant that manufactures weapons of death."

The late Bishop Leroy Matthiesen of Amarillo, Texas, told the Catholics in his diocese who worked at the nearby Pantex nuclear weapons plant: "In the name of the God of peace, quit your jobs." In making this appeal, he said he would offer financial assistance to any defense workers who would quit their jobs.

And the late Seattle Archbishop Raymond Hunthausen asserted: "I say with deep sorrow that our nuclear war preparations are the global crucifixion of Jesus. Our nuclear weapons are the final crucifixion of Jesus, in the extermination of the human family with whom he is one. We have to refuse to give incense in our day, tax dollars to our nuclear idol."

Seven Catholics were convicted for participating in the 2018 Kings Bay Plowshares action at the Naval Submarine Base in Kings Bay, Georgia, to protest nuclear weapons. It was among about 100 disarmament actions since 1980 in which activists have symbolically beaten swords into plowshares. (CNS/courtesy Kings Bay Plowshares)

The nuclear challenge before us is great but not insurmountable, for with God, and people acting on their faith convictions, all things are possible. History bears out this truth. Drawing on the rich biblical tradition of nonviolence and the many examples of nonviolent resistance in human history, Plowshares activists have been inspired to carry out over 100 disarmament actions since 1980, whereby the nuclear swords of our time have symbolically been beaten into plowshares (Isaiah 2:4 and Micah 4:3).

The most recent action, the Kings Bay Plowshares 7, took place on April 4, 2018, the 50th anniversary of the assassination of Dr. Martin Luther King Jr., at the Naval Submarine Base Kings Bay in St. Marys, Georgia. They declaredin their action statement: "Nuclear weapons eviscerate the rule of law, enforce white supremacy, perpetuate endless war and environmental destruction, and ensure impunity for all manner of crimes against humanity."

In October 2019, the activistswere tried and convictedby a jury in U.S. District Court in Brunswick, Georgia. All seven have served or are serving prison terms ranging from 8 months to 3 years.

The nuclear challenge before us is great but not insurmountable, for with God, and people acting on their faith convictions, all things are possible.

As one who has participated in two Plowshares actions and other peace actions, I, along with many others, believe that if people have the faith to believe that disarmament is possible, and act on that faith, the abolition of nuclear weapons can occur.

The U.S. bishops and all churches have a crucial role to play in following Francis' lead in bringing about nuclear abolition.

What if the bishops called for the conversion of arms industries to nonmilitary production, while advocating for full and just protection of workers' rights during the transition process? What if the church provided material resources for those who quit their jobs for reasons of conscience?

What if leadership in all Christian denominations called on believers in the nuclear chain of command to refuse orders to use nuclear weapons, and for all Christians to publicly support those who do so? What if the churches demanded, too, that the U.S. government ratify the UN Treaty on the Prohibition of Nuclear Weapons, which now makes nuclear weapons illegal under international law?

These efforts would go a long way to help create the climate necessary to bring about real disarmament.

Hiroshima-Nagasaki commemoration actions worldwide Aug. 6-9 will call for nuclear abolition. "In the Presence of All Who Perished: Remembrance in the Age of the Ban Treaty" is the theme for actions coordinated by the U.S. Days of Action Working Group.

The purpose is twofold: to note that the U.N. treaty has shifted the conversation about nuclear weapons from military and policy considerations to the humanitarian and environmental impacts of nuclear weapons; and to elevate the voices of those who have witnessed the destructive power of nuclear weapons.

Now is the time to join together and act with people worldwide working for nonviolent social transformation, peace and justice.

As Dr. King famously said in his 1967 speech on Vietnam: "Our only hope today lies in our ability to recapture the revolutionary spirit and go out into a sometimes hostile world declaring eternal hostility to poverty, racism, and militarism."

If the human family and earth, our common home, are to survive, if our children are to have a future, we need to recapture the hope and revolutionary spirit that Dr. King spoke of. Moreover, we need to commit our lives to the commandment of gospel nonviolence as we join with others seeking to create the Beloved Community, thereby making God's reign of love, peace, and justice a reality for our world.

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Catholics must act on Francis' mandate to abolish nuclear weapons - National Catholic Reporter

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New report says ICE is targeting immigrant advocacy groups with retaliation and surveillance – AL DIA News

Posted: at 12:45 pm

A new report details allegations of nationwide retaliation by Immigration and Customs Enforcement (ICE), and now immigrant advocacy groups and organizers are calling on the Biden administration to act.

The report, prepared by the University of Washington School of Law Immigration Clinic, and nationwide organizers found that federal officials are regularly engaged in a sustained campaign of ICE surveillance and repression against advocacy groups and activists.

It cited a compilation of interviews, court filings and documents obtained via Freedom of Information Act (FOIA) requests, and documents a myriad of allegations of instances of retaliation and surveillance across the country, where immigrant rights activists say they experienced intimidation, targeting, and in some cases, deportation for their prevalence in advocacy circles.

In these cases, ICE agents followed, photographed, and monitored the social media activity of activists who engaged in protests or other public advocacy, sometimes in violation of state law.

ICE agents launched immigration raids, explicitly targeting these individuals. Agents placed individuals into deportation proceedings, and in one instance, arrested 20 members of an immigrant rights organization following the organizations attempts to sever the ties between local police and ICE.

The findings of the report are troubling, not only for immigrant rights groups but also for the people they are advocating for. ICEs actions suggest that the federal government is openly using its power to retaliate against these communities.

It raises serious concerns that ICE is punishing individuals for First Amendment-protected activities.

The report documents retaliation committed against individuals associated with five immigrant rights groups: Grassroots Leadership, Organized Communities Against Deportations, Comunidad Colectiva, La Resistencia, and Migrant Justice.

"This pattern of retaliation is not about a few ICE agents scattered across the country," Jacinta Gonzalez, senior campaign organizer at Mijente told AL DA. It makes a mockery of our First Amendment if activists can be surveilled, jailed, and deported for nothing more than protesting abuse carried out by the government.

She added that the Biden administration should ban this sort of retaliation within its upcoming enforcement memo for ICE.

It is imperative that the Secretary of Homeland Security do so and issue guidelines forbidding this targeted harassment of activists.

Despite the danger of organizing against ICE, especially for those who are undocumented, advocacy groups have made it clear they are not going to stop.

Our work is to make public all the brutality of the immigration detention system, Maru Mora Villalpando of La Resistencia said in a statement. ICE retaliation only made us stronger and more committed to continue our work to end all detentions and deportations.

While DHS Secretary Alejandro Mayorkas has said that retaliation by ICE is unacceptable in the past, activists say there still continues to be substantial reason for concern of retaliation and surveillance.

Its why theyre calling on the Biden administration to intervene.

"These cases show that retaliation is systemic, so the administration must take immediate action to stop it. Following people to meetings, scouring their social media accounts, arresting their friends and family this is harassment and abuse, actions totally unacceptable for a government agency, Gnzalez said.

With the upcoming enforcement memo for ICE, the administration has the opportunity to institute and advocate for a range of policy interventions to protect advocates, and address the harmful effects of ICEs tactics. But will it? Those tactics include exercising prosecutorial discretion in favor of civil, labor, and human rights organizers and activists.

The reports authors also offer several policy recommendations for the administration to consider, from bringing home immigrant activists and organizers who have been targeted and deported because of their affiliation with advocacy work, to ending

mass surveillance of immigration activists, organizers and protests in general.

DHS has used intrusive modern technological tools and boots on the ground to engage in widespread surveillance of immigrant activists, immigrant-led organizations, and protests across the country, the report reads.

The complete list of recommendations listed in the report can be found here.

The goal, the report says, is to re-envision the immigration system in its current form, away from treating it as an extension of the criminal justice system.

To abolish the immigration enforcement agencies, in other words, ICE, is the long-term goal for these groups, and they maintain that the pattern of surveillance and retaliation detailed in the report merits the call for abolition.

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Comments on: It’s time to rethink how we teach our children – Politics.co.uk

Posted: at 12:45 pm

GCSE results this week will include all of the usual highs and lows, with students exceeding, meeting and some sadly missing their expectations and ambitions.

The work they have put in and the teaching and support they have received should be celebrated particularly in this most disrupted year. At the Association of Colleges (AOC) well certainly be working hard to acknowledge the work done and the achievements of hundreds of thousands of college students.

But alongside all of that is an underlying discontent from many commentators about GCSEs as a qualification, with some calling for their abolition. The main argument is a simple one: the GCSE was established as an end-point qualification for compulsory education when 16 was the school leaving age. With young people now required to stay in education or training until 18, that purpose is undermined and its use for adults is stretching things too far.

For colleges, there are other concerns about GCSEs and particularly about the obsession the government seems to have with GCSE English and maths. The Department for Education English and maths GCSE resits policy requires every 16 year old who has failed to achieve at least a grade 4 to re-take the GCSE or equivalent until they have. That means over a third of young people having to resit and for those on free school meals it is more than half, showing how unequal education outcomes are.

This week the GCSE results will once again show that the majority of those resitting will fail to improve their grade. Thats hardly a surprise given the norm-referenced nature of the grading which literally means that it is impossible for everyone to achieve the required grade 4.

Its an odd world we live in that the government implores young people to achieve a grade 4 knowing that around a third will not, and even after resits, around 25% will still not achieve it. If being competently numerate and literate are requirements for all of us, why not have a test more like the driving test which is criterion-referenced and everyone can pass at least theoretically?

This matters because the GCSE policy is one of the sharp cliff-edges which face young people throughout their education. Research by Machin, McNally and Valenzuela Entry through the narrow door: The costs of just failing high stakes exams (2020) showed that students on the wrong side of the grade 4 boundary, even by one single point, are more likely to drop out of education early and less likely to achieve a good upper secondary education because the available opportunities are insufficient. The reason for that is how the GCSE English and maths is used as a gateway or a barrier to progression in learning as well as access to jobs.

Take the approach to the new T Levels where the government has, wrongly in my view, made achievement of English and maths at grade 4 or better a requirement for all students to achieve a T Level. The laudable aim is to show how rigorous and high quality the new T Level qualification is, but it means many young people will not be able to achieve it. Weirdly, the same requirement does not exist for A Levels and degrees, and every year some people achieve those without the GCSE English and maths.

For adults the GCSE is also problematic, with only set points in the year when it can be taken, and the high-stakes end-point assessment creating a barrier for many who are returning to learning and need their confidence boosted. In prisons, a GCSE in English or maths is often impossible to achieve in the time available, so learning is often not translated into concrete achievement.

So whats to be done? We can all agree that children, young people and adults need strong literacy, numeracy and digital skills. We can also agree that too many young people leave school without those abilities and many adults are held back without them. The current system, it is fair to say, is not working to meet the aims we all agree on and, even if teaching and learning improved substantially and very quickly, too many people would still not be well-served.

A modular GCSE would help, allowing the banking of achievements at all ages and stages in school, college, community or workplace so that positive progress can be built upon. It would help children struggling at key stage 4 by giving them some achievements to take with them into their next stage rather than being haunted by the failure of a low GCSE grade. It would mean no more resits, which are mentally taxing as well. It would mean prisoners able to bank an achievement during a short sentence and able to top-up after prison. It would allow adults to dip their toes back into learning and build the confidence to progress.

The other change needed is for English and maths, as well as digital skills, to be properly funded. We have called repeatedly for specific funding to be used to support this government priority, but it remains poorly supported. For 16 to 18 year olds, the number of hours of teaching and support they receive is around 15 hours per week, lagging the 25+ hours in other OECD countries. Its no wonder that young people struggle, given the lack of investment made in their learning.

Finally, we need an adult literacy, numeracy, digital skills and language strategy. We had that in the early 2000s and it made an impact, but there is nothing now. Developing a strategy would concentrate minds, galvanise actions and generate interest, and with the right funding could make a big impact.

So, yes, lets review GCSEs, but more importantly, lets think about the English, maths, digital and language skills we want everyone to have as well.

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Democrats make governing much harder than it needs to be – The Week Magazine

Posted: at 12:45 pm

Don't look now, but it seems that there actually will be some kind of bipartisan infrastructure deal. Enough Senate Republicans have agreed to a roughly $1 trillion dollar package including money for roads, bridges, broadband, and Amtrak, among other things that it is expected to be passed sometime Tuesday.

It raises the question: Are Democrats about to get played by Republicans once again? The answer is that it is entirely up to them. Now is the time for House Democrats to stand firm and demand that Senate Democrats pass the party's own prioritiesbefore they accept the bipartisan compromise.

Now, I have to admit that I was apparently too skeptical of the chances of a bipartisan bill getting through. Under President Obama, Republicans' signature move was to hold out the promise of bipartisan compromise, dragging out negotiations for months and squandering precious congressional calendar time, only to pull back at the last second. In 2009-10, dimwitted and/or corrupt moderate Democrats fell for this clumsy trick over and over and over, and I thought it would probably work again, but I was mistaken.

However, it is still absolutely certain that Republicans are operating in bad faith here. If they are advancing this bipartisan bill, it is because they perceive that to be their best chance at blowing up the rest of the Biden agenda and thereby damaging the Democrats' political prospects. The old goal of wasting tons of floor time has indeed succeeded. Now the GOP is almost certainly hoping that by agreeing to this bill, moderate Democrats like Sens. Krysten Sinema (Ariz.)and Joe Manchin (W. Va.) will get cold feet about the rest of Biden's policy program, and that will be the end of major policymaking for the rest of his presidency.

It is worth noting again that both in terms of policy and in terms of the political objectives of the Democratic Party, the bipartisan bill is completely pointless. As Alex Pareene writes at The New York Times, the sole objective is to assuage a neurotic desire from a handful of Senate moderates like Manchin and Sinema to demonstrate that the Senate still functions: "The Senate (with the White House's support) wasted months cajoling and rehabilitating a handful of key Republicans, only to pass a smaller version of something Democrats could theoretically have passed entirely on their own." The whole process proved beyond any doubt that the Senate is a worthless obstacle to human flourishing.

If and when the deal does pass, the Democrats' explicit intention is to pass another much larger budget bill that can sidestep the filibuster through the reconciliation process tacking on manyof the party's objectives that weren't included in the bipartisan bill.(Republicans appear to have calculated that if they didn't do something bipartisan, Manchin and Sinema would be forced to go along with the rest of their party, so they are trying to give them an escape hatch to start running away from liberal priorities.) Senate Democrats released an outline of what that second bill couldlook like Monday morning.

However, one small but important thing is missing from that proposedreconciliation bill an increase in the debt limit. The government is going to run out of legal borrowing authority in mid-September, and Democrats are reportedly going to try to force Republicans to vote for a separateincrease rather than just doing it themselves.

This is almost unbelievably stupid, even for long-time students of Democratic blundering. Republicans have already taken the debt limit hostage more than once, and their desire to inflict harm on the country to damagethe Bidenadministration is right out in the open. Right now, in the midst of a resurgent pandemic that is again stuffing hospitals full to bursting, Republican elites are spreading anti-vaccine propaganda and instructing their followers to ignore pandemic containment guidelines. Republican senators are publicly sayingthey will not vote for a debt ceiling increase without massive austerity measures that would wound the economy and therefore Biden. "I don't think there are going to be any Republican votes to increase the debt limit without some structural reforms," Sen. John Cornyn (R-Texas) told Politico.

Furthermore, the debt ceiling is a pointless anachronism that does not exist in any other country (except Denmark, where they have effectively abolished it) and is arguably unconstitutional. In any sane country, when the legislature votes to spend and tax, it has thereby voted to borrow the balance of revenue needed. It is irresponsible politics to play chicken with the worst major political party in the developed world, and it is irresponsiblepolicy not to clean up this poisonous legal idiocy while Democrats have the chance.

All this means that right now is an excellent time for progressives in the House by which I mean not just the "Squad" but anyone who is in favor of Biden's agenda and wants to see him succeed as president to hold the line and force Senate Democrats to behave. If the Housepockets the bipartisan bill and refuses to move on it until they also havethe reconciliation bill in hand from the Senate, including an abolition of the debt limit (or at least a large increase), they can likely force through the whole thing. Make it clear to Sinema and Manchin that it's an all-or-nothing deal. Otherwise Biden's entire presidency could run aground in a month.

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