News From the Control Tower - 5/11/2022
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. It’s the Worst Bond Market Since 1842. That’s the Good News.
The four-decade-long bull market in bonds is over, but that doesn’t mean you should dump them
2. Electricity Shortage Warnings Grow Across U.S.
Power-grid operators caution that electricity supplies aren’t keeping up with demand amid transition to cleaner forms of energy
3. America is trying to fix the chip shortage one factory at a time
A billion-dollar chip factory just opened in upstate New York. The Biden administration wants more.
4. Illinois College to Close, Hurt by Pandemic and Ransomware Attack
The predominantly Black Lincoln College will cease operations Friday after 157 years, having failed to raise millions to recover from the pandemic and a cyberattack that originated in Iran.
5. Licensed marijuana sales in 2021 eclipsed coffee giant Starbucks
Cigarette sales beat both, increasing in 2021 for the first time in 20 years.
Bonus: In Alabama’s ‘19th Unnamed Cave,’ a Trove of Ancient Dark-Zone Art
Researchers using 3-D technology brought to light an array of art in an Alabama cave, including a serpent, flying creatures and humanoid figures in regalia.