(FREE) PAINE IN THE MORNING: 11 things you need to know this Monday – May 9, 2022

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FDA Limits Authorized Use Of Johnson & Johnson Coronavirus Vaccine Due To ‘Potentially Life-Threatening Blood Clots’ – The U.S. Food and Drug Administration (FDA) announced late Thursday afternoon that it has limited the authorized use of the Johnson & Johnson vaccine to adults who cannot receive other coronavirus vaccines.

The FDA said in a statement, “After conducting an updated analysis, evaluation and investigation of reported cases, the FDA has determined that the risk of thrombosis with thrombocytopenia syndrome (TTS), a syndrome of rare and potentially life-threatening blood clots in combination with low levels of blood platelets with onset of symptoms approximately one to two weeks following administration of the Janssen COVID-19 Vaccine, warrants limiting the authorized use of the vaccine.” – READ MORE

MIT study ties COVID shots to cardiac arrest among youth – Amid a variety of reports of an unusual increase in cardiac events among young people, a peer-reviewed MIT study of data in highly vaccinated Israel found COVID vaccines were “significantly associated” with a 25% spike in emergency medical services for heart problems in 16-39 year-olds.

During the vaccine rollout period for that age group, from January to May 2021, there was a “statistically significant increase of over 25%” for emergency calls regarding cardiac arrest and acute coronary syndrome. – READ MORE

Gas Prices Could Go Even Higher Under Biden’s Plan for Our National Oil Stockpile – According to a CNN report Thursday, the Biden administration will be going into the oil market in the fall to buy up tens of millions of barrels of crude oil to refill the nation’s Strategic Petroleum Reserves.

Most Americans might remember that the last time the SPR was making headlines was when Biden was doing exactly the opposite, putting oil out to bid in major releases aimed at manipulating the oil market to alleviate the pain of drivers filling up at the pump. – READ MORE

East Coast Diesel Inventories Hit Record Lows, Sending Prices Skyrocketing To Record Highs – Diesel fuel inventories on the East Coast have hit the lowest levels on record, sending prices soaring to record levels and worsening economic pressures from the fuel crisis.

Last week, inventories of diesel fuel on the East Coast reached the lowest seasonal levels in 30 years, since the federal government began recording inventories, according to a report from Bloomberg. News of the shortage triggered a crisis in the market, and diesel prices surged to an all-time high. Prices spiked to $5.16 per gallon, GasBuddy reported, breaking the previous record of $5.15 per gallon set on March 10. The gap between gasoline and diesel prices also reached a record high of $1 per gallon, breaking the previous record price difference of 98 cents set all the way back in November 2008. Diesel prices continued to increase over the weekend, Bloomberg reported, rising to about $5.30 per gallon Tuesday. That spike was the fifth consecutive daily price increase in retail diesel prices. Diesel is already up more than 75% since last year, and prices are worst on the Eastern seaboard, retailing for at least $6 a gallon. – READ MORE

OPEC Sticks with Modest Oil Production Increase, Rebuking Biden’s Calls for Greater Output – At a meeting of the Organization of the Petroleum Exporting Countries (OPEC) on Thursday in London, the oil cartel voted on a modest production increase and announced that the organization is not to blame for the disruptions and price increases since Russia invaded Ukraine in late February.

OPEC also blamed the threat to demand on China for its recent draconian coronavirus lockdowns. – READ MORE

Global Grain Reserves “Extremely Low,” Will Be Depleted For Years, Warns Top Fertilizer Boss – Snarled supply chains, adverse weather conditions in top growing areas, and conflict in Ukraine have wreaked havoc on the world’s agricultural system. The latest sign of an emerging food crisis is comments from a top US fertilizer company that warns it could take two to three years for farmers to resupply the world’s grain stockpiles. – READ MORE

Ukraine Grain Strain: Almost 25 Million Tonnes Blocked From Export – A massive backlog of grain shipments is piling up in Ukraine to the tune of nearly 25 million tonnes due to ‘infrastructure challenges’ and blocked ports in the Black Sea, including Mariupol, Reuters reports, citing a UN food agency official.’

Ukraine was the fourth-largest exporter of maize (corn) in the 2020/21 season, and the sixth-largest wheat exporter in the world, according to the International Grains Council. – READ MORE

Poop-Boom: Manure Supplies Tighten As Fertilizer Prices Soar – Manure has become a hot commodity. U.S. farmers hunting for organic fertilizer come as chemical fertilizers are in short supply or at sky-high prices. According to Reuters, soaring demand for manure has unleashed a poop shortage.

“Manure is absolutely a hot commodity,” said industry consultant Allen Kampschnieder, who works for Nebraska-based Nutrient Advisors. – READ MORE

Nationwide Baby Formula Shortage Hits “Shocking” Levels, Sparking Panic Among Parents – A nationwide shortage in baby formula is worsening, according to a new analysis, as parents have expressed alarm over the worrying trend.

At retail locations across the United States, about 40 percent of the top-selling infant formula products were not in stock for the week ending April 24, said Datasembly. The company said that it tracked baby formula stock at more than 11,000 stores nationwide. – READ MORE

34% Of Retailers Couldn’t Make Rent In April, New Survey Shows – Despite the fact that consumer spending is expected to rise this year, retailers are having a hell of a time trying to pay the cost of their rising rents.

In fact, according to a new report by Bisnow, 34% of small retail businesses were unable to make their rent in April. This number was up 6% from February, the report says, citing survey data from Alignable. – READ MORE

Biden’s Economy Sends Americans Into ‘Unretirement’ – Americans are leaving retirement due to inflation and a tight job market, according to data released last month by job platform Indeed.

According to Bureau of Labor Statistics data, the number of retired seniors surged from 28.3 million in February 2020 to 31.6 million in October 2021, however, higher price levels and other economic challenges are now forcing Americans into “unretirement.” – READ MORE