The McAlvany Daily Update - December 7, 2021

Daily Update • Dec 07 2021

The McAlvany Daily Update – December 7, 2021

The G2 Posted on December 7, 2021

Credit Bubble Bulletin

McAlvany Intelbrief

The McAlvany Intelbrief is a round-up of the day’s important news from a multitude of sectors that can and do impact the financial markets.

[FYI – Repetition of items is on purpose because the item fits into 2 or more categories, not a mistake by me.]

December 7, 1941 – Pearl Harbor bombed “a date which will live in infamy.”

At 7:55 a.m. Hawaii time, a Japanese dive bomber bearing the red symbol of the Rising Sun of Japan on its wings appears out of the clouds above the island of Oahu. A swarm of 360 Japanese warplanes followed, descending on the U.S. naval base at Pearl Harbor in a ferocious assault. The surprise attack struck a critical blow against the U.S. Pacific fleet and drew the United States irrevocably into World War II. Much of the Pacific fleet was rendered useless: Five of eight battleships, three destroyers, and seven other ships were sunk or severely damaged, and more than 200 aircraft were destroyed. A total of 2,403 Americans were killed and 1,200 were wounded, many while valiantly attempting to repulse the attack. Japan’s losses were some 30 planes, five midget submarines, and fewer than 100 men. Fortunately for the United States, all three Pacific fleet carriers were out at sea on training maneuvers. These giant aircraft carriers would have their revenge against Japan six months later at the Battle of Midway, reversing the tide against the previously invincible Japanese navy in a spectacular victory.

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