The Show Notes: Markets Tank, Inflation Problems, & Twitter's Whistleblower
Welcome! Inflation breaks 8.3% in August. Dow drops 900 points.
NEW: 15,000 nurses walk off the job, claiming largest strike in history.
Stat: Instagram users watch 17.6 million hours of reels per day. TikTok users watch 197.8 million. - WSJ (paywall)
Headline: 3 in 4 Americans have at least one regret about their new home.
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Clip of the day:
Inflation
Inflation rose more than expected in August despite plunging gas prices and aggressive rate hikes from the Federal Reserve. The inflation print of 8.3% is slightly lower from the highs in June and July but was still 0.2% higher than expected.
The stubbornly high inflation numbers following back-to-back jumbo rate hikes signaling the Federal Reserve will continue to pursue additional tightening measures to reign in inflation.
How Bad is Inflation Really?
Twitter
A Twitter whistleblower claims that the company hired Chinese agents and compromised user data in a shocking testimony in front of the Senate Judiciary Committee. Peiter Zatko was Twitter’s top security official until he was fired in January. Here are just two of the highlights. Go deeper with CNN.
Washington Post Calls Out Fetterman
The hyper-progressive Editorial Board at The Washington Post unequivocally said John Fetterman should debate Dr. Oz before voters cast ballots and questioned Fetterman’s fitness to serve if he is unable to do so. Fetterman, a Democrat, suffered a stroke early in the campaign and has refused to debate due to lingering speech issues. Here’s an excerpt from The Washington Post:
“Since returning to the campaign trail, Mr. Fetterman has been halting in his performances. He stammers, appears confused and keeps his remarks short. He has held no news conferences. Mr. Fetterman acknowledges his difficulties with auditory processing, which make it hard for him to respond quickly to what he’s hearing. He receives speech therapy — and we wish him a speedy, full recovery — but the lingering, unanswered questions about his health, underscored by his hesitation to debate, are unsettling.”
Europe Energy Chaos
How bad is the energy crisis in Europe? Paris is turning off the Eiffel Tower to save energy. The most visited monument in the world will go dark one hour earlier than normal as Europe suffers from surging energy prices thanks to Russia’s invasion of Ukraine and poor energy policies.
Who Is Murdering Russian Elite?
The seventh suspicious death of a Putin ally has raised more questions than answers. Ivan Pechorin, Putin’s “Artic resource guy,” fell off of a boat in the Artic and died according to state media. Just last week another Putin crony died by falling from a hospital window.
The rest of the news:
Columbia University acknowledges submitting inaccurate data for consideration in college rankings - CNN
The energy crisis has revived the coal market - Axios
Over 1,300 New York Times employees pledge not to return to office - NY Post
Less than half of Americans can name all three branches of government, survey finds - The Hill
Tropics turn unusually quiet as Atlantic Basin reaches peak of hurricane season - NY Post
If You Want to Know Where US Inflation Is Heading, Look at Rents - Yahoo
Progressives tangle one more time with Manchin - Politico
Ukraine piles pressure on retreating Russian troops - AP News
BLS: Inflation in Price of Food Highest Since 1979 - CNS
Xi Returns to World Stage With Putin to Counter US Dominance - Yahoo
First look: Pence was "angry" on Jan. 6 - Axios
U.S. Incomes Were Flat Last Year, Census Figures Show - WSJ (paywall)
Goldman Sachs Prepares for Layoffs as Deal-Making Slows - NYT (paywall)
Tweets that caught my eye: