Jul 31, 2024

It's Humpday—Let's Put Orda Above Chaos!

Orda is a fresh, soft Hungarian cheese, very similar to cottage cheese but with a smoother consistency—a bit like this newsletter. If you can make a cheese-pun with any other Hungarian cheese, I will give you a (virtual) medal.

Speaking of non-virtual medals, Simone Biles led the U.S. women's gymnastics team to a Cheddar-colored one yesterday in a remarkable comeback after withdrawing from the Tokyo Olympics three years ago. Makes you prouder than ever to be an American, eh?

Meanwhile, there's plenty of cheddlines:

Trappista later!

—Matt Davis, N2K Chedditor

P.S. We've got video of the first pizza delivery by jetpack on our Instagram.

1. Let's Reform the Supreme Court, President Suggests as His Term Nears an End

I'm staying in Norfolk, Virginia, right now, and my in-laws' next-door neighbors have a flag out the back of their house that says "An Appeal to Heaven," and shows a green tree flying over a white field. Broadly speaking, it means they're probably right of center, although there are a few different meanings of the flag. I know this because they flew a Confederate flag last year. It's made things a touch awkward. Let's just leave it at that.

The "Appeal to Heaven" flag also happens to be the flag that flew outside Supreme Court justice Samuel Alito's summer home in 2023, raising concerns about his objectivity. The court, which currently leans conservative, with a 6–3 supermajority, has been at the center of contentious debates following its decisions that reversed long-standing rulings on abortion rights and federal regulatory powers. These decisions, along with concerns over the justices' impartiality, related to their flag-flying and expensive gifts from conservative donors, have triggered concerns among liberals.

That's why President Joe Biden has launched a vehement critique of what he describes as "extremism" on the court. Speaking from the LBJ Presidential Library in Austin, Texas, during an event commemorating the 60th anniversary of the Civil Rights Act, Biden shared his vision to restore faith in the judiciary. Biden wants to implement 18-year term limits and an enforceable ethics code for the nine justices, and to push for a constitutional amendment to limit presidential immunity. With the clock ticking on his presidency and the election horizon drawing closer, Biden's proposals aim to shake up a closely divided Congress. Despite the challenging odds, the Democrats see this as a critical juncture to galvanize voter support.

Vice President Kamala Harris was quick to endorse Biden's call for reform, framing it as a pivotal choice between "freedom and chaos." The reaction from the Republican camp has been stark, with House Speaker Mike Johnson branding the proposal a "dangerous gambit" and Trump dismissing it as "a typical Biden con." Meanwhile, Senate Republican leader Mitch McConnell accused Biden of attempting to "shred the Constitution." In a surprising development, my in-laws' next-door neighbors are also somewhat outraged by the news. Can I go back to New York City soon, please? Read More

2. Puma's 'Forever Faster' Plan: Outrun the Competition in Sleek Footwear

The Paris Olympics are officially under way, and we spoke with Puma's North American president, Bob Phillion, about the brand's history, from their spikes supporting Jesse Owens' four medals in 1936 Berlin to the present day and beyond.

When it comes to collaborating with athletes, Bob said the brand is looking at three things: Brand visibility; amplifying the message that you can achieve your dreams; and then to showcase Puma's products. The brand's new "fire glow" colorway is making its debut across the games, and there's a "Puma House" open for the next 17 days as an anchor site for people to come and engage with the brand in Paris.

"The biggest thing on Summer Olympics is what we've done on the innovation side with thermoregulation and really trying to keep our athletes comfortable and cool while we're there participating," Bob said. "We're dreaming big, here, we're here to support the athletes, and I can't wait to see them get up on the podiums." Watch Now

From @cheddar

Can you say "publicity stunt"?

Domino's recently tested a new way of delivering pizzas using jetpacks. The company conducted the trial at the Glastonbury Festival in the UK, where festival-goers were on their way to the event.

The pizza chain got the idea for the futuristic delivery method from the original "Rocket Man" Elton John, who was performing at the festival.

To make the delivery possible, Domino's teamed up with Gravity Industries, which designed a fully customized suit that keeps the pilot safe and the pizza warm.

Follow @cheddar on Instagram!

3. Synchron Brain Implant Pairs With Apple Vision Pro, So Now You Can Text 'U Up?' With Your Mind

Synchron, a pioneer in brain-computer interfaces, has linked its brain implant with an Apple Vision Pro. Mark, a 64-year-old with ALS, is the first person in the world to navigate Apple Vision Pro using nothing but his mind—despite his paralysis, Mark has been playing Solitaire, enjoying Apple TV, and sending text messages, all without the need for hand gestures or voice commands. The implant is minimally invasive and implanted via the jugular vein to sit on the brain's motor cortex, where it detects and wirelessly transmits user intentions. Synchron's achievement is not just a technical milestone; it's also a beacon of hope for millions with paralysis. We also wonder what this means for the future of the "butt-dial." Like, will Mark have to fess up to those late-night calls to his ex being intentional after all now? Read More

You Need 2 Know About This Box!

Meet the Sunset Box, a quarterly subscription service sending home, wellness, and travel goodies straight to your doorstep, curated by editors at mag Sunset, the Western-lifestyle magazine that just so happens to be a sister company of ours.

Since you clearly have good taste (you're an N2K subscriber, after all), we think you'll love this box. Use code CHEDDAR15 for 15% off your subscription.

Gimme the Box!

Note: Sadly does not contain any cheese.

4. Hot Summer, Cool Market: Low Affordability Stalls Home Buyers and Sellers

We sat down with Dave Meyer at real estate investing community Biggerpockets to talk about the housing market. Low affordability is continuing to deter both buyers and sellers, with very low transaction volume, he said.

"Most recent data shows about 4 million annualized transactions, which is about a 50% decrease from what we saw during the pandemic," Dave said. "And it's like 25% or 30% below what would be considered normal."

On the other hand, prices are still up. With mortgage rates still high, interest needs to come down to stimulate the market, Dave said.

"There are other ways that affordability could come into the market and improve buying conditions," he said. "One of them is a reduction in the spread between bond yields and mortgage rates. And we're starting to see price appreciation soften a little bit."

New home construction is also helping to improve inventory, with new construction likely to dominate the housing market over coming years.

"There are many situations right now where it's better to rent," Dave said. "But if you plan to stay in a home for, I'd say, four or five years, it is better for people to buy real estate. Most economists believe that prices are going to keep going up over the next few years, even if there's a short-term flattening right now. They all usually keep pace, at least with inflation."

Of course, that's not financial advice. And I plan to keep renting my apartment until I'm dead, but that's because I, Monsieur Smallerpockets, have a European sensibility and a snooty attitude. Watch Now

5. Positive Earnings from Pfizer, Procter & Gamble

Good news for those of us who love drugs. Er, drug companies! Both Pfizer and Procter & Gamble reported strong earnings results yesterday amid a deluge of results this earnings season. Although oddly, perhaps, both stocks dropped in value after the earnings were announced. Pfizer outperformed Wall Street estimates on both earnings and revenues, largely due to robust sales of its Covid-19 antiviral pill, Paxlovid, and effective cost management. The company raised its full-year guidance for earnings per share, as well as its revenue forecast.

Procter & Gamble's profits were up but sales were down slightly, prompting a sell-off that pushed its stock price down 5.6%. Yet again, two companies made billions of dollars, exceeding expectations for profits, and yet their values fell. It's almost as though the stock market is just an imaginary place where nothing is real. Which reminds me of that song Lucy in the Sky With Diamonds. Which apparently was a very subtle allusion by the Beatles in 1967 to a subtle change in their lifestyles, which started to make everything better with zero negative consequences. Read More