🇺🇸 An Underwater Whodunit

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🐘 Generic Congress Vote: Republicans 45, Democrats 44 (Rasmussen Reports)

📉 Biden Job Approval: Approve 45, Disapprove 54 (Rasmussen Reports)

🐘 Pennsylvania: Trump vs. Biden: Trump 46, Biden 45 (The Hill/Emerson)

🐘 Missouri: Trump vs. Biden: Trump 51, Biden 37 (The Hill/Emerson)

TRENDING

Right: Jim Jordan hits back after FBI denies his allegations of a conservative 'purge' (Fox News)

Right: New York Times Helps Biden Pretend He’s Fixing Border Asylum Scam, When He’s Literally Making It Worse (The Federalist)

Right: Newsom Signs Bill Allowing Criminals To Hide Records From Background Checks (The Daily Wire)

Left: How the GOP weaponized ignorance — and how “smart people acting like dopes” stay in power (Salon)

Left: Judge Rules Trump Can Ignore Special Master Order To Prove Claim FBI 'Planted' Docs (Huffington Post)

Left: Impeach Joe Biden? Republicans are already talking about it (CNN)

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Before and After Ian, Supreme Court Returns, Indonesia Soccer Stampede

US: Before, after images show Hurricane Ian storm surge destroyed some Sanibel Island, Florida hotels (WCVB Boston) + Death toll soars to 74 in Florida after Hurricane Ian demolished entire communities (CNN)

US: A shaken Supreme Court returns to chambers (POLITICO) + Supreme Court’s approval sinks to historic lows 100 days after abortion decision (The Hill)

US: Republicans abandon Obamacare repeal (NBC News)

US: Biden continues to compare student loan handout to PPP, slams Republicans as hypocrites (Fox News)

World: Brazil votes in tense Lula-Bolsonaro presidential contest (Yahoo! News)

World: Biden announces return of seven American detainees from Venezuela (CNN) + Rubio: Prisoner swap with Venezuela ‘puts Americans all over the world … in danger’ (The Hill)

World: Indonesia soccer stampede kills 125 after police use tear gas in stadium (Reuters)

Business: Who needs another subscription service? Walmart is betting its millions of customers do (CNBC)

Hollywood: ‘Smile’ Leads Box Office With Scary Good $22 Million Opening, ‘Bros’ Fizzles With $4.8 Million (Variety)

FOREIGN AFFAIRS

An Underwater Whodunit

Last week, two gas pipelines — Nord Stream 1 and Nord Stream 2 — suffered mysterious leaks. Sweden’s national seismic network detected explosions near the site of each leak. Both President Joe Biden and NATO have said they believed the leaks are the direct result of sabotage.

Reporting from the Right: Who Sabotaged the Nord Stream Pipelines? (Reason)

Reporting from the Left: Nord Stream pipeline leaks: What happened, what’s the impact? (Al Jazeera)

From The Flag: Russian President Vladimir Putin and European leaders have been in an energy standoff since the invasion of Ukraine, heightening the tension over this incident. The leaks shine a light on Europe's vulnerable energy infrastructure heading into colder months. We recently covered Europe’s energy concerns ahead of winter, which is a related issue. Here’s fresh commentary from both sides.

LEFT-LEANING SENTIMENT

Putin Takes Bold Action in Weaponization of Energy, Blames the US

• It does appear likely these leaks were the result of sabotage, and allows Putin to weaponize energy for years to come.

• It’s clear Russia is the main culprit in these attacks, although right-leaning provocateurs are quick to dispute that thinking.

• In an attempt to obfuscate Russia’s involvement in the sabotage, the Kremlin is baselessly pointing fingers at the US Navy.

“Is Putin Fully Weaponizing the Nord Stream Pipelines?” Javier Blas, Bloomberg Opinion: “Put aside the fact that neither the Nord Stream 1 nor the Nord Stream 2 pipelines is operational right now. The leaks are more likely a message: Russia is opening a new front on its energy war against Europe. First, it weaponized gas supply, halting shipments, including via the Nord Stream pipeline. Now, it may be attacking the energy infrastructure it once used to ship its energy. The first step in the militarization of power supplies could have been easily reversed; it just needs a political decision to re-start the flow of gas. The second stage, though, is longer-term and, perhaps, even permanent. If anyone in Europe was expecting Germany would get any gas via the Nord Stream pipelines in 2023, this apparent attack ends those hopes. … Can it be an accident? Maybe. An under-water mudslide could explain the breakage. Yet, geological institutes haven’t detected any earthquakes nearby recently, suggesting the problem is man-made.”

“Russia is the most likely culprit of Nord Stream pipeline sabotage” Max Boot, Washington Post Opinion: “The Kremlin, predictably, denied any responsibility and blamed the US government… Just as predictably, Russia’s ‘useful idiots’ in the West, such as Fox News host Tucker Carlson and former president Donald Trump, echoed Moscow’s propaganda. Trump, who never criticizes Vladimir Putin, is now even offering to negotiate a deal with the Russian dictator to avoid further escalation. How convenient! It is true that the Biden administration, just like its predecessors, opposed the Nord Stream pipelines because they would increase European dependence on Russia. But it is bizarre to think that the United States would undertake an act of sabotage that could hurt our closest allies in Europe and add to inflationary pressure at home. President Biden has done a superb job of marshaling European countries to oppose Russian aggression. He would never risk the blowback from an attack on European energy infrastructure.”

One more opinion piece from the Left: Putin Wants Us to Believe U.S. Is Blowing up Gas Pipeline Dan Ladden-Hall, The Daily Beast

RIGHT-LEANING SENTIMENT

It Was the Americans, No the Russians, Or Maybe Ukraine?

• It’s stunning to think that this environmental crisis could have been caused by the Biden administration, as he previously threatened to “take out” the pipelines.

• Putin launched this attack because he sees it as part of a long-term strategy, showcasing his ability to disrupt energy markets on multiple fronts.

• It’s highly plausible the Ukrainians attacked the pipeline in a bid to harm the Russians and dissuade Germany from negotiating with them before winter sets in.

“What really happened to the Nord Stream pipeline?” Tucker Carlson, Fox News: “Pictures from the air… show a toxic bubble field more than half a mile wide. … Natural gas is comprised of up to 90 percent methane… the key driver of global warming… And it turns out it was not an accident. At the very same time that leaks in these pipelines were detected, Swedish officials recorded two powerful undersea explosions... Nothing in nature can account for that. … It is true that blowing up Nord Stream does not help Vladimir Putin. He would not do that. … (But) in early February, less than three weeks before the war in Ukraine began, Joe Biden suggested on camera that he might take out these pipelines. … If they did this, this will be one of the craziest, most destructive things any American administration has ever done. But it would also be totally consistent with what they do. … They destroy.”

“Russia’s Attack on Nord Stream Pipelines Means Putin Has Truly Weaponized Energy” Daniel Kochis, The Heritage Foundation: “This latest salvo should be read clearly as another striking example of how Russia continues to utilize every tool at its disposal to damage and pressure the West. Putin sees his war in Ukraine and his larger attacks against the West as a long-term conflict that won’t be resolved anytime soon which is why he’s willing to literally cut ties with Europe via sabotage… (which) is also meant to showcase Russia’s ability to sabotage underwater infrastructure. The timing is no accident… the leaders of Denmark, Norway, and Poland just joined together at a ceremony to open a new pipeline bringing Norwegian gas to Poland via the Baltic Sea. The Nord Stream dress rehearsal could presage future attacks against pipelines feeding Europe with energy. If Europe wants to import gas from Algeria, or Azerbaijan, or Norway to replace Russian molecules, then Putin may take efforts to staunch the supply via attacks on pipelines.”

One more opinion piece from the Right: Gregory Cochran's Theory of Who Blew Up the Nord Stream Pipelines Steve Sailer, The Unz Review

FLAG THIS

Where’s The Energy Coming From? Many Want More Renewable Projects

Polling shows Americans are increasingly concerned about the availability and affordability of energy since Russia first invaded Ukraine in February.

In March the number of respondents who said they were worried either a “great deal” or “fair amount” about energy checked in at 77%. That’s up 23% from when the same question was posed at the same time in 2020 (Gallup).

Meanwhile with fossil fuels like natural gas and oil in focus amid the Russia-Ukraine conflict, Americans want to see more renewable energy projects.

In a survey conducted weeks before Russia’s invasion, 69% backed expanded development of wind and solar projects, rather than increased production of oil, natural gas, and coal (Pew Research Center).

FLAG FINDS

An Interesting Finance Newsletter, Pumpkin Carving Kit, and Flannel Sheets for Fall

📈 The markets are a mess right now. As many of you know, we publish our own finance newsletter, The Street Sheet. We are also constantly on the lookout for other sources of information. Recently we signed up for the newsletter from The Investor's Podcast and it might be worth a look if you follow the markets. Here's the link to sign up.

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WATERCOOLER

Era of Podcasting Begins, Cravings, Bug Candy

October 3, 2014, the podcast, Serial, a spinoff of the long-running radio program This American Life, debuted, and quickly becomes a smash hit. The same year, media companies had found that podcasts could bring in high ad revenue; podcast listenership soon soared to higher-than-ever levels.

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