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Market Turbulence, Gypsy Rose Release, Wisconsin University Scandal
Just reporting the facts.
Centrist Chronicle
January 01, 2024
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American equity markets are on track to conclude the year with substantial gains. The S&P 500, which is currently close to its highest level ever, finished yesterday with a 25% increase for the year. The Nasdaq, known for its concentration of tech stocks, ended the year with a 45% rise, approaching its best performance since 2003. Meanwhile, the Dow Jones Industrial Average recorded a 14% annual gain, achieving its seventh monthly record high just yesterday.
This year's surge represents a significant turnaround from 2022, a year in which all three major indices fell (S&P 500 by 19.4%, Dow by 8.8%, and Nasdaq by 33.1%), marking the most challenging year for the markets since 2008. The advancements in 2023 can be attributed in part to the emergence of artificial intelligence and substantial growth in major technology stocks, especially among a group often referred to as the "Magnificent Seven," which includes Alphabet, Amazon, Apple, Meta, Microsoft, Tesla, and Nvidia.
Factors such as a moderating economy, characterized by a slowing job market and decreasing inflation rates, along with anticipated reductions in interest rates next year, have also played a role in boosting the stock market's performance. The annual inflation rate stood at 3.1% in November, nearing the Federal Reserve's target rate by approximately one percentage point.
After serving seven years of a ten-year sentence, Gypsy Rose Blanchard was released yesterday from a Missouri state prison. Blanchard, 32, had been convicted for her role in the murder of her mother in 2015. Her case, which caught the eye of the international media, has been the subject of multiple documentaries. Blanchard's recent interviews from prison are scheduled to be broadcast on Lifetime next week.
The tragic narrative revolves around Blanchard's mother, Dee Dee, who was believed to suffer from Munchausen by proxy syndrome. This condition involves a caregiver fabricating or inducing illness in their charge to garner attention and sympathy. It was widely believed that Blanchard suffered from severe health issues like cerebral palsy and leukemia, leading to unnecessary wheelchair use and multiple surgeries.
The true extent of Dee Dee Blanchard's manipulation and abuse came to light during the investigation of her murder. Blanchard's then-boyfriend, Nick Godejohn, carried out the stabbing at her request. In 2019, Godejohn received a life sentence for his role in the crime.
The veteran leader of the University of Wisconsin-La Crosse, Joe Gow, has been dismissed from his role following revelations about his involvement in the adult film industry alongside his spouse. Appointed as chancellor in 2007, Gow's tenure came to an abrupt end on Wednesday. This decision was taken by the Board of Regents of the Universities of Wisconsin System, as stated in a recent press release. Consequently, Gow has been put on immediate paid administrative leave.
Despite this development, Gow retains his tenure as a faculty member and is expected to resume his academic career. Earlier this year, he expressed his desire to return to teaching, specifically in the field of communications, as a professor.