NUTS AND BOLTS: SHOULD READ
Saudi Prince May Have Returned To Riyadh Against His WillVacations always feel too short, but associates of Prince Sultan bin Turki say that his abrupt departure from Europe occurred against his will. The Prince, who is enmeshed in high-profile legal proceedings against the Saudi government, disappeared after boarding a plane in Paris that was ostensibly bound for Cairo (common theme today). He’s not the first royal defector to go missing. Prince Turki bin Bandar bin Mohammed bin Abdurahman al-Saud and Prince Saud bin Saif al-Nasr bin Saud bin Abdulaziz al-Saud also took up critical positions against the state before vanishing earlier this year. The Saudi government refused to comment on his disappearance and, perhaps for the sake of safety, no one else should either.
Yelling Yellen YellsWell not really, but it’s fun to say five times fast. Fed Chairwoman Janet Yellen took a dovish stance, justifying the new, slower pace for raising interest rates than was previously expected. Yellen is concerned about financial gyrations (great word), a weak global economy and inflation being so low it becomes deflation (high interest rates = lower inflation). The market jumped at her delivery of fairly bad economic news.
US Senate Dysfunction Affects All Three Branches Of GovernmentThe Supreme Court, much like most US sports, isn’t designed to end in ties. That’s why it’s supposed to have nine justices. But because Republican lawmakers are refusing to even meet with Obama’s nominee on account of the “Biden rule,” ties have become inevitable. Yesterday the court voted 4-4 on a case that threatened to weaken public unions in the US, giving unions a brief victory after decades of legal battles against them.
In the event of a tie, the decision of the lower court would stand but wouldn’t be considered a national precedent and it can be re-argued when the court gets their missing justice.
Keeping Our Eye On…
- Diddy: Hip hop mogul Sean Combs is moving into the education biz and is backing a charter school in Harlem. The school will be taxpayer-funded but independently operated in the neighborhood where Combs grew up.
- Patty Duke: The Oscar-winning actress and mental health advocate has died at age 69. Her role as Helen Keller in “The Miracle Worker” launched her career, and she later became the youngest actress to have a TV series bearing her name.
- Somalia: Sufism, a mystic tradition within Islam, is experiencing a revival in Somalia. The Sufi tradition was nearly wiped out in the ’90s, and despite decades of losing everything from historic shrines to religious leaders, the community is rebuilding through education.