The hosts discuss nuclear threats from Putin, Ukraine's offensive, Nordstream pipeline attack, 2008 financial crisis, UK financial crisis, and Brazil elections. They analyze Putin's speech, responses to the nuclear threat, and potential consequences of regime changes. They also discuss a prisoner swap between Venezuelans and Americans, the impact of the 2008 financial crisis on the housing market, and the significance of the Brazilian presidential election. The chapter explores polling inaccuracies in Brazil and promotes the importance of independence from corporate media.
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Quick takeaways
The US accuses Russia of sabotaging the Nord Stream pipeline, raising concerns about Europe's energy security.
Ukraine applies for NATO membership, but any decision is up to the NATO allies and aspiring countries.
Ukrainian forces retake the transport hub of Lyman, undermining Russia's annexation claims.
Brazil's election miscalculation raises questions about the credibility of polling science and accurately reflecting public sentiment.
Deep dives
Nord Stream pipeline sabotage alleged by US and Russia
The US accuses Russia of sabotaging the Nord Stream pipeline, but says a definitive attribution is still pending due to physical limitations. Russia denies responsibility and suggests it was the work of the West. The US is working to enhance the protection of critical infrastructure and plans to send divers to investigate the incident. During his speech on the annexation, Putin accuses the US and its allies of blowing up the pipeline, raising concerns about Europe's energy security.
Ukraine applies for NATO membership, Zelensky seeks direct alliance
Ukraine applies for NATO membership, asserting its compatibility with NATO standards. However, the Biden administration emphasizes that any decision on membership is up to the 30 NATO allies and aspiring countries. Zelensky also calls for negotiations with Russia, but only with a new Russian president in power. The US is focused on supporting Ukraine through practical support on the ground and will take up the process of NATO membership at a future time.
Ukrainian advances on the battlefield against Russian forces
Ukrainian forces retake the transport hub of Lyman, a significant victory against Russian troops. The advance comes as Ukraine surrounds the city, trapping thousands of Russian soldiers. The success undermines Russia's annexation claims over the disputed territory and brings the conflict to a humiliating position for Putin. The losses on the battlefield highlight the ongoing proxy war and the extent of US support given to Ukraine.
US cautious about blaming Russia for pipeline attack
The US alleges that Russia was behind the deliberate act of sabotage on the Nord Stream pipeline, but states that a definitive attribution is pending further investigation. Physical limitations and Russian misinformation make it challenging to gather evidence. The US rejects Russian accusations and emphasizes that the suggestions made by Russia are false. The US is collaborating with its allies and plans to send divers to determine the cause of the incident.
Inaccurate Polls and Brazil's Election
Polls in Brazil's election were dramatically wrong, showing a significant underestimation of support for right-wing populist Jair Bolsonaro. Pollsters are questioning the accuracy of their methods, and theories suggest that the stigma and embarrassment associated with supporting Bolsonaro led voters to withhold their true preferences. This miscalculation could have far-reaching implications for the credibility of polling science and its capacity to accurately reflect public sentiment.
Lula's Presidential Bid and Bolsonarism
Former Brazilian President Lula da Silva is advancing to a runoff election against incumbent President Jair Bolsonaro. Lula's popularity stems from his force of personality and the successes of his previous presidency, which saw significant poverty reduction and economic growth. However, even if Lula wins the election, Bolsonarismo, the right-wing populist movement, remains strong in Brazil, as demonstrated by Bolsonaro's party's success in other races.
Economic Impact of Brazil's Election
The dramatic outcome of Brazil's election resulted in immediate economic consequences. Government bond yields spiked, increasing borrowing costs for the government and creating turmoil in the country's financial markets. Pension funds suffered, causing fire sales and potential contagion across the economy. The Brazilian Central Bank had to intervene to stabilize the situation, and the British pound weakened against the dollar due to the turmoil. The election has far-reaching implications for Brazil's political landscape and economic stability.
Lessons on Neoliberalism and Right-Wing Populism
The Brazilian election highlights the failure of neoliberal policies and their impact on societal discontent, leading to the rise of right-wing populism. The disappearance of the center-right and growing anger towards the neoliberal establishment are key factors in the success of right-wing populist candidates. Similar patterns can be observed in other countries, including the US, where the parallel between Bolsonaro and Trump is evident. The consequences of these rising movements underscore the urgency of addressing economic disparities and exploring alternative political approaches.
Krystal and Saagar discuss nuclear threats by Putin, Ukraine's offensive, Nordstream pipeline attack, stock ban sabotage, late night TV, 2008 financial crisis, UK financial crisis, & Brazil elections with Glenn Greenwald!
