SUMMARY
John Newton was a Virginia native and a Union general during the American Civil War (1861–1865). Born in Norfolk, the son of a long-serving congressman, Newton graduated from West Point and served in the Army Corps of Engineers before commanding a brigade and then a division in the Army of the Potomac. After the disastrous Union defeat at Fredericksburg in December 1862, Newton and fellow general John Cochrane met with United States president Abraham Lincoln in a veiled attempt at seeing Ambrose E. Burnside removed from command. Lincoln did remove him, but Newton’s career suffered for his effort. Newton fought well during the Chancellorsville Campaign in May 1863, and after the death of John F. Reynolds on the first day of the Battle of Gettysburg, he took command of the First Corps. Within a year, however, he had been denied promotion, been sent west to participate in the Atlanta Campaign (1864), and eventually exiled to Florida. There, in March 1865, he was defeated in
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A Tsunami Warning Has Been Issued
A tsunami often takes its victims unawares… a liquid mountain rising sheer from a glass sea… suddenly… barreling ashore.
The coastal areas are promptly scenes of astonishing apocalypse.
In 2021… the skies have been azure, the breezes have been kind, the seas have dozed.
Investors have thronged the beaches, merry as grigs. Many have been reading thrilling fiction primarily the financial press.
Yet an offshore quake has shaken the deeps… releasing horrendous energies.
A devil wave may be racing for the beaches; inaudibly, invisibly… like a murderous cat preparing a pounce.
The deluge may arrive before its victims can take to the higher elevations.
(Joshua Roberts/Reuters)
Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: Yellen says something (and then unsays it), Joe Biden, Peronist, Biden and Brussels against Ireland, and Richard Nixon and Arthur Burns. To sign up for the Capital Note, follow this link.
Yellen’ Fire
No, that’s not what really what Treasury Secretary Yellen did on Tuesday, but sometimes the lure of a bad pun is too hard to resist.
CNBC had a more sober assessment:
Treasury Secretary Janet Yellen conceded Tuesday that interest rates may have to rise to keep a lid on the burgeoning growth of the U.S. economy brought on in part by trillions of dollars in government stimulus spending.