The potential implications of a second Trump term on businesses and the American economy, the silence of company bosses in speaking up against the Trump administration's dangers, the cultural damage and loss of artistic heritage in Ukraine due to Russia's invasion, and the rising cost of olive oil and its impact on producers and consumers.
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Quick takeaways
A second term for Donald Trump could have significant implications for American businesses and the economy, with potential trade wars and increased deficits.
The invasion of Ukraine by Russia has resulted in significant looting and destruction of cultural heritage, with over 480,000 works of art and artifacts ending up in Russian hands.
Deep dives
The economic impact of a potential second Trump presidency
If Donald Trump were to be re-elected for a second term, his economic policies could have significant implications for American businesses and the economy. Economic conditions have changed since his first term, and his policies this time around could include higher tariffs and deficit-funded spending. Unlike his first term, where he was reined in by conservative advisors, he is surrounded by true believers now, and they have proposed extreme policy measures. This could lead to a trade war, exacerbate worker shortages due to deportation efforts, and increase the government's deficit. Overall, a second Trump presidency has the potential to harm businesses in the United States.
Cultural heritage looting and destruction in Ukraine
Since the beginning of Russia's invasion of Ukraine, significant cultural heritage has been looted or destroyed. Museums have been bombed, and Russian forces have taken valuable artifacts. The extent of the looting and destruction is difficult to determine precisely, as many museums relied on paper catalogues that were destroyed or stolen along with the artwork. The Ministry of Culture estimates that more than 480,000 works of art and archaeological artifacts have ended up in Russian hands. The chances of recovering the stolen art are low unless Ukraine successfully retakes the territories currently occupied by Russia.
The soaring price of olive oil and its impact
The price of olive oil has dramatically increased, impacting both producers and consumers. Rising demand for the Mediterranean diet, combined with climate change-related supply shortages, have contributed to the price surge. Spain, Italy, and Greece, major olive oil producers, have experienced extreme climate events like heatwaves and droughts, negatively affecting olive tree blooms. Reduced supply, increased costs for farmers, and export bans from countries like Turkey have further driven up prices. The increased cost of olive oil has caused concerns among consumers, with some resorting to giving it as a luxury Christmas gift. Unfortunately, the current year's harvest also looks bleak, with lower production expected.
Many of America’s business leaders reckon a second Trump term would be worse for them and for the economy than the first was—not that they’re speaking up about it. We examine just how much of Ukraine’s art and cultural heritage has been moved or looted in the course of the war (9:35). And why the price of olive oil is skyrocketing (17:17).
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