Topics discussed include Liz Truss's resignation, Russia-Ukraine war, energy geopolitics, midterm races, FBI raiding an ABC Producer, landlord cartel, and systematic corruption.
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Quick takeaways
President Biden released emergency oil reserves to ease high gas prices, but prices remain high.
The UK government has prepared secret scripts in case of energy shortages, raising concerns about potential blackouts.
High gas prices and the Biden administration's response could impact the outcome of the upcoming midterm elections.
An investigation exposes former military officials working for Saudi Arabia, raising concerns about corruption and conflicts of interest.
Deep dives
US emergency reserves released to ease high gas prices
President Biden announced the release of 15 million additional barrels from the US emergency reserves to ease high gas prices. This is the final tranche of the strategic petroleum reserve releases authorized earlier this year. The move comes as an admission that previous policies have not effectively addressed the issue. The Biden administration is also considering limits on fuel exports to keep more gasoline and diesel within the US. Additionally, they are weighing plans to refill the strategic petroleum reserve at a price that ensures profitability for the oil companies. However, the effectiveness of these measures remains uncertain.
Ominous preparations for potential blackouts in the UK
The BBC has prepared secret scripts in the event of blackouts due to potential energy shortages in the UK. The scripts outline how the corporation would reassure the public and provide emergency updates in case of blackouts or loss of gas supplies. The UK government has assured the public that blackouts are not likely, but independent analysts are more concerned. In addition, Sweden has called off a joint investigation into the attacks on the Nord Stream pipelines due to confidential information related to national security, raising questions and speculations about the incident.
Gas prices remain high despite emergency reserve releases
Despite President Biden's release of emergency reserves to ease high gas prices, prices remain elevated. The release of additional barrels from the strategic petroleum reserve has not led to a significant drop in prices. An announcement to refill the reserve at a specific price aims to provide stability, but it remains to be seen if it will have a substantial impact. The administration is also considering limits on fuel exports to keep more gasoline and diesel within the US. However, the effectiveness of these measures and the overall plan to address the high gas prices is still uncertain.
Implications for the midterms
The high gas prices and the government's response to them could have implications for the upcoming midterms. Gas prices have a significant impact on working-class Americans, and they can influence political fortunes. As prices remain high and the Biden administration's policies to address the issue have not produced the desired outcomes, Democrats may face challenges in the midterm elections. The Republicans are currently favored in betting markets and there is growing speculation about a potential red wave in several states. However, the political landscape is dynamic and subject to change leading up to the midterms.
Former US Military Generals Working for Saudi Arabia
An investigative report reveals that several former four-star generals and high-ranking military officials are actively working for Saudi Arabia, including providing military advice, conducting cyber warfare, and increasing the capability of the Saudi military. This includes individuals who previously held esteemed positions such as National Security Advisor and the head of the NSA. Furthermore, these individuals have recruited other former generals and officials to work for Saudi Arabia. Notably, these arrangements were made and continued even after the murder of Jamal Khashoggi. The US government approved these transactions and fought to keep the details of the arrangements secret. This raises concerns about corruption and conflicts of interest among former military leaders and the integrity of the US military as an institution.
The Strong Influence of Corporate Profiteering on Inflation
An investigation exposes the role of corporate profiteering in driving inflation. The investigation reveals that corporate profits account for over 50% of increased prices people are paying. Executives from a company specializing in software that helps landlords set prices for apartments boasted about their algorithm's ability to drive up rents. The software encourages raising rents beyond what the market can bear, and it pressures landlords to keep apartments empty rather than rent them out at more reasonable rates. This contributes to the increasing rent prices across the country and creates a feedback loop that perpetuates escalating prices. The situation also raises legal questions, as the company's actions may constitute collusion and a violation of antitrust laws. It is important to address such corporate profiteering to combat rising inflation and restore trust in American institutions.
Former Generals Working for Crown Prince of Saudi Arabia
An investigative report uncovers that several former four-star generals and high-ranking military officials are actively working for the Crown Prince of Saudi Arabia. These individuals have been involved in helping increase the military capability of Saudi Arabia and have even recruited other former generals and officials to work for them. Some of these arrangements were made after the murder of journalist Jamal Khashoggi. Notably, the US government approved these transactions and fought to keep the details of the arrangements secret. This raises questions about conflicts of interest and corruption within the US military as well as the integrity of those involved. The fact that former military leaders are working for a country known for human rights abuses and questionable alliances is deeply concerning.
Krystal and Saagar discuss the Chicago live show, Liz Truss resigning, Russia-Ukraine war, energy geopolitics, midterm races, FBI raiding an ABC Producer, landlord cartel, & systematic corruption!
