“Life without liberty is like a body without spirit.” ― Kahlil Gibran
THE DAY AHEAD:
As the Russia-Ukraine war continues to fester, the economic effects are becoming more dramatic. Western companies are ceasing or reducing operations in Russia amid political pressure. The companies to announce exit plans include Coca-Cola, McDonald's, Shell PLC, and Boeing Co so far.
According to the Wall Street Journal, “McDonald's said it was temporarily closing its roughly 850 restaurants in the country and would continue paying the 62,000 people it employs in Russia. The company said it couldn't yet determine when it might reopen the restaurants in Russia and would consider whether any additional steps might be required”
Furthermore, the economy is facing more supply chain setbacks as hundreds of ships are trapped. Specifically, travel in the Black Sea is limited, with over 3,000 sailors stuck on 200 ships across Ukrainian ports.
Earlier today, President Biden detailed a new plan to ban imports of Russian oil.
The president's decision is predicted to cause a surge in already record-high gas prices. According to analysts, if prices continue to increase so will the likelihood of a recession.
As reported by CNBC, Andy Lipow, president of Lipow Oil Associates, said,
‘My greatest fear is that these prices have risen so fast that you cause a recession in Europe and Latin America that rolls on into the United States that ultimately affects China's ability to sell consumer goods to the rest of the world.'
2021 reports from Goldman Sachs suggest Russia supplies 11% of global oil consumption, 17% of global gas consumption, and as much as 40% of Western European gas consumption.
Americans continue to reap the economic consequences of policymakers. However, those very Democrats are denying their role.
In California, Governor Gavin Newsom is attempting to quell the issue by shutting Californians up with cash. The governor just announced a rebate plan to offset the surge in gas prices. During a State of the State address, Newsom said,
No one's naive about the moment we're living with high gas prices and the geopolitical uncertainty that's fueling them. I'll be submitting a proposal to put money back in the pockets of Californians to address rising gas prices.
Meanwhile, Representative Rashida Tlaib suggested corporations are to blame for rising prices.
The representative said,
Corporations have the nerve to blame inflation while consolidating their market power and raising the price of essential goods and services. For me, this is not inflation; it's extortion.
The Squad, which now includes Alexandria Ocasio-Cortez, Ilhan Omar, Ayanna Pressley, Rashida Tlaib, Jamaal Bowman, Cori Bush, are continuing to redefine current events. Bush recently called her fellow Democrats out for “spewing lies” and failing to recognize that cops are the enemy of the people.
During a hearing, she said,
What too many of my colleagues do not want us to talk about what, what they don't want us talking about, is that as they trip over each other, rushing to spew lies and right-wing talking points about police funding, they are saying nothing about the rise of violence by the police.
Her statement was made in spite of a spike in criminal activity in her own Missouri district. A report from the St. Louis Post-Dispatch suggests the city set a record for total murders, and murder rate, in 2020. The city saw 263 murders overall, at a rate of 87 per 100,000 residents. The numbers were the third-highest since 1995.
One Last Laugh:
Biden's latest billion-dollar request has arrived. Now, the president is asking for $2.6B to “promote gender equity worldwide.” The budget doubles the president's last annual funding for gender programs.
The president's request was announced on International Women's Day. In a statement, he said, “On this day and every day, let us recognize that all of us have a better future when women and girls can reach their full potential — and together, let's renew our efforts to advance dignity, equality, and limitless possibilities for all.”
The money will be included in his 2023 budget request to Congress.
That's all for today. See you tomorrow!
