U.S. and world news for Jan. 12

Veering into a global recession: A new forecast by the World Bank is warning the global economy is “perilously close to falling into recession.” The international body is forecasting the world economy to grow by only 1.7% this year, down from a June 2022 forecast that predicted 3% growth. The World Bank cited the Russian invasion of Ukraine, the continuing resonance of the pandemic”™s economic turmoil and higher inflation rates for the expected malaise ”“ with the economies of the U.S., China and the Eurozone experiencing a “period of pronounced weakness” that will impact poorer countries.

Second batch of Biden classified papers found: President Biden”™s aides have discovered another batch of classified documents at a second location associated with Biden after he concluded his term as Barack Obama”™s vice president. NBC News reported the uncovering of the documents, which marks the second time this week that classified documents Biden retained after leaving office in January 2017 were found. However, the classification levels and location of the documents were not disclosed, and neither the White House nor the Justice Department commented on the news of the discovery.

Hamlin released from hospital: Buffalo Bills safety Damar Hamlin has been discharged from the hospital nine days after he sufferd a cardiac arrest during a game on Jan. 2 against the Cincinnati Bengals. The 24-year-old Hamlin was initially under care at UC Health in Cincinnati before being transferred to Buffalo General earlier this week. Doctors said that Hamlin”™s neurological function remained intact during his hospitalization. However, the cause of Hamlin”™s cardiac arrest has not been publicly announced.

Republicans join chorus demanding Santos’ resignation: Embattled Republican Rep. George Santos is facing calls from several members of his party to resign. Santos was elected to Congress in November to represent New York”™s 3rd Congressional District that covers parts of Long Island and Queens, but after his victory a New York Times report determined that he made numerous false statements about his education, employment history and heritage during the campaign. While Democrats have demanded Santos step down, the call for his resignation was joined by another Republican congressman, Rep. Anthony D”™Esposito, along with Nassau County Republican Chairman Joseph Cairo and Nassau County Executive Bruce Blakeman. Santos has declared he had no plans to resign.

Fewer Bitcoin millionaires: The cratering of the cryptocurrency sector has weakened the wealth of many investors who put their money into digital assets. A new study from CoinJournal.net found there were 73% fewer Bitcoin millionaires in 2022 compared to the previous year. The cryptocurrency industry was valued close to $3 trillion entering 2022, but it is now at $800 billion. However, the number of investors that now hold greater than 1 BTC in their portfolio is up by 20%, if only because the hurdle to investing in the cryptocurrency is now more attainable.

Diamond and Silk commentator dies: Lynette Hardaway, the “Diamond” of the conservative political commentary duo Diamond and Silk, passed away on Monday at the age of 51. Hardaway and her sister, Rochelle “Silk” Richardson, rose to national prominence through a series of YouTube videos in 2016 where they voiced their support for Donald Trump”™s presidential campaign. Diamond and Silk gained wider prominence through their appearances on Fox News and later on their Newsmax show “Diamond and Silk: Crystal Clear.” The cause of death was not disclosed.

Iconic guitarist Jeff Beck is dead: Jeff Beck, the British rock guitarist who rose to prominence in the 1960s with The Yardbirds before embarking on a successful solo career, died on Wednesday at the age of 78 from bacterial meningitis. Beck was an eight-time Grammy winner and was twice inducted into the Rock and Roll Hall of Fame, first with The Yardbirds in 1992 and then in 2009 as a solo artist. His most recent output came last year when he toured with Johnny Depp after the pair recorded an album together called “18.”

Cover photo of Jeff Beck courtesy of Pelo magazine / Wikimedia Commons