(FREE) PAINE IN THE MORNING: 11 things you need to know this Thursday – November 11, 2021

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Bidenflation: Price Increases Soar To 30-Year High, Outpace Economist Predictions – U.S. inflation hit its highest year-over-year surge in more than 30 years last month, according to the Department of Labor.

The consumer price index, a basket of products economists use to track overall changes in price, surged 6.2% from October 2020 to last month, the fastest annual rate since 1990. Inflation during the month of October alone surged 0.9%, driving the year-over-year rate above the 5.9% that economists predicted. Monthly inflation in October was expected to clock in at 0.6%, according to CNBC. – READ MORE

U.S. food banks struggle to feed hungry amid surging prices – U.S. food banks already dealing with increased demand from families sidelined by the pandemic now face a new challenge — surging food prices and supply chain issues walloping the nation.

The higher costs and limited availability mean some families may get smaller servings or substitutions for staples such as peanut butter, which costs nearly double what it did a year ago. As holidays approach, some food banks worry they won’t have enough stuffing and cranberry sauce for Thanksgiving and Christmas. – READ MORE

Biden Banking Nominee Wants To ‘Starve’ Companies That Invest in Oil and Gas –President Joe Biden’s pick to regulate the banking system said earlier this year that she wants to “starve” companies of money to invest in the oil and gas industry in order to fight climate change, comments that could further complicate her chances of Senate confirmation.

Saule Omarova, who received the Lenin Personal Academic Scholarship at Moscow State University, has proposed establishing a National Investment Authority to divert investments away from the oil and gas industry and into “clean and green” infrastructure projects. Speaking at a virtual forum in May, Omarova said “the way we basically get rid of those carbon financiers is we starve them of their sources of capital.” – READ MORE

Snitch in time: Biden relying on informants to enforce vaccine mandates – The Biden administration will most likely rely on informants to enforce its COVID-19 vaccine mandate on employers, experts say.

The Occupational Safety and Health Administration (OSHA) is currently tasked with enforcing President Joe Biden’s vaccine rule that is set to go into effect Jan. 4, mandating employers with 100 or more employees to require their workers to be vaccinated or submit weekly negative COVID-19 tests. Yet the agency, which has just 1,850 inspectors responsible for 130 million workers and 8 million worksites, may not be equipped for the task. – READ MORE

Infrastructure Bill Requires Car Manufacturers to Install Breathalyzer-Style Systems in All New Cars by 2026 – Buried within the massive infrastructure bill that recently passed is a slew of road safety endeavors, one of which is a requirement that car manufacturers install a monitoring system in all new vehicles that can detect whether a driver is under the influence of alcohol by 2026.

The goal of reducing the number of impaired drivers on the road is certainly one that is noble, as the NHTSA notes that there are over 10,000 deaths every year caused by drunk drivers – accounting for a third of all traffic-related deaths annually. – READ MORE

New York: Vaccinated Children Can Win a Full Scholarship to Any State University – New York has launched a contest to give vaccinated 5-11-year-olds a full-ride scholarship to any state university or college of their choosing.

“Starting today, 5-11 year olds who get vaccinated can enter to win a full-ride scholarship to any New York public university or college!” New York Gov. Kathy Hochul (D) announced on Tuesday – READ MORE

German Newspaper Highlights “Unusually Large” Number Of Soccer Players Who Have Collapsed Recently – German newspaper Berliner Zeitung has published a report seeking to answer why an “unusually large number of professional and amateur soccer players have collapsed recently.”

Headlined ‘Puzzling heart diseases in football,’ the report begins by highlighting the case of FC Barcelona’s Sergio Agüero, the 33-year-old striker who recently had to be withdrawn from a match after 41 minutes suffering from dizziness and breathing difficulties. – READ MORE

VA School Board BACKTRACKS On Vaccine Mandate After MAJOR Staff Shortages And Resignations – Richmond, Virginia, the school board is backtracking on its vaccine mandate after numerous teachers resigned over the measure, leading to a major staff shortage.

The Richmond Times-Dispatch reported that last night, the board voted 6-3 to prevent superintendent Jason Kamras from withholding pay or firing teachers who refused to get the vaccine “if said teachers or staff agree to weekly COVID testing provided by RPS.” – READ MORE

Pennsylvania court throws out governor’s school mask mandate – An order by Pennsylvania’s acting health secretary that requires masks inside K-12 schools and child care facilities was thrown out Wednesday by a state court that said she lacked the authority.

Commonwealth Court sided 4-1 with the ranking Republican in the state Senate and others who sued to challenge the masking order that took effect in early September as a result of the coronavirus pandemic. – READ MORE

Where Does All That Money Go? Breaking Down Biden’s Trillion Dollar Infrastructure Package – President Joe Biden achieved one of his first substantive legislative victories when Congress passed his $1.2 trillion infrastructure package. While the Biden administration sold the “bipartisan infrastructure bill” on the promise of building new roads and bridges, the bill also contains highly ideological provisions preparing for roads and bridges to be torn down, increasing commute times, attempting to herd drivers onto public transportation, allowing Washington to dictate environmental policy to each of the 50 states, and giving high-speed internet access to prisoners.

Here are the facts you need to know. – READ MORE

Relief From High Prices Unlikely, Analysts Say Ahead Of Consumer Inflation Data Release – Having seen producer prices soar yesterday, investors closely eyeing consumer prices for any signs that The Fed’s ‘transitory’ inflation narrative is true and Wells Fargo analysts say it’s unlikely sticker-shock-weary consumers will see relief as the persistent supply-side crunch will “keep fanning the flames on inflation in the near term.”

Yesterday, the Labor Department released data for October’s producer price index (PPI), which tends to front-run consumer inflation data as at least some production costs get passed on to consumers. The headline and core data for producer prices came in at record highs. – READ MORE