🇺🇸 The R Word
May 9, 2022

Good morning, and happy Monday! These “octocopters” fire out seeds and use artificial intelligence in an attempt to combat deforestation…

Plus, it sold for $34.99 in Texas, 75 years after it was looted during WW2…

Also, eliminate the guess work from gardening with this Flag Find.

Flag Polls


ab521640-e2ad-6400-4ea0-8848d603c575.png 5/6: Biden Job Approval, Rasmussen Reports Approve 45,
Disapprove 53
ab521640-e2ad-6400-4ea0-8848d603c575.png 5/4: Direction of Country, Economist YouGov Right Track 27,
Wrong Track 62
D 5/4: Gen. Congress Vote, Economist YouGov Republicans 47,
Democrats 53

Trending On The Left


Mother Jones: Abortion Has Always Been a Part of America—Even if Alito Won’t Admit It

Huff Post: GOP Candidate Accused Of Murdering His Wife Wins Primary Election From Jail

Slate: What Will Right-Wing Media Say if the Supreme Court Leaker Is a Conservative?

Trending On The Right


Fox: Warren pushes to eliminate filibuster over Roe v. Wade, says she's 'madder than hell'

Washington Examiner: Biden faces impatient Left and has few options as Roe hangs in balance

The Blaze: Parents sue school district for compiling dossier containing sensitive info on them 

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QUICK CLICKS

First Lady Visit to Ukraine, Roe Overturn's Peril, Deaths Probed in the Bahamas


World: Jill Biden pays surprise visit to Ukraine, meets first lady (AP)

US: Most who support Roe see an overturn as a danger to women, other rights (CBS)

US: State Department 'closely monitoring' after 3 Americans found dead at Bahamas resort (Fox News)

World: Crews work through 2nd night after Cuba hotel blast kills 27 (NPR)

World: G7 to phase out Russian oil, U.S. sanctions Gazprombank execs over Ukraine war (Reuters)

World: Bitcoin drops below $35,000 over the weekend, extending Friday's losses (CNBC)

US: Biden administration braces for Putin's Victory Day surprise (POLITICO)

World: Beijing loyalist John Lee elected as Hong Kong’s next leader (NY Post)

US: Vicky White had a 'special relationship' with inmate Casey White. Here are some other people who fell in love with inmates behind bars (CNN)

World: Nepali mountaineer Kami Rita Sherpa scales Mount Everest for 26th time, beating own world record (The Guardian)

Sports: Where does Rich Strike's win rank among the all-time Kentucky Derby upsets? (USA Today)

ECONOMY

The R Word

Last Thursday, the stock market endured its worst day of 2022. It came one day after the Federal Reserve hiked rates for just the second time since 2018, with inflation at its highest level in 40 years.

News Coverage from the Right: Biden economic advisor won't say if US headed towards recession: 'You can never rule anything out' (Fox News)

News Coverage from the Left: Is a recession coming in 2022? Deutsche Bank sees a major one in 2023 (USA Today)

From the Flag: As the central bank and White House take steps aimed at combating inflation, some economists say a recession is likely to result. Here’s more from both sides.

LEFT-LEANING SENTIMENT

Job Growth Remains An Economic Bright Spot Amid Other Issues


  • It doesn’t appear likely that a recession can be avoided, because looking at the past 70 years, high inflation and low unemployment have historically led to economic downturns.
  • The economy does have one positive indicator which is job growth, and it may be possible for the Fed to hike rates without triggering layoffs because workers are in such high demand.
  • Instead of starting to panic, people should prepare for a potential recession by building up cash reserves, locking in a new job, or selling property.

“The Fed can’t prevent a recession, Larry Summers and his co-author say” Alex Domash and Lawrence H. Summers, Market Watch Op-ed: “The Federal Reserve will likely soon learn what gymnasts already know: sticking a landing is hard. … By raising interest rates, the central bank is hoping to achieve a proverbial ‘soft landing’ for the U.S. economy, in which it’s able to tame rapid inflation without causing unemployment to rise or triggering a recession. … Our recent research, however, suggests that engineering a soft landing is highly improbable and that there is a significant likelihood of a recession in the not-too- distant future. That’s because high inflation and low unemployment are both strong predictors of future recessions. In fact, since the 1950s, every time inflation has exceeded 4% and unemployment has been below 5%, the US economy has gone into a recession within two years.”

“The US job market has recovered faster than (almost) anyone predicted” Catherine Rampell, Washington Post Opinion: “Amid some other unfortunate economic developments — accelerating inflation, a stock-market plunge, declining productivity — there’s one bright spot… Over the past year, job growth has averaged more than half a million new positions on net each month. … today’s job market recovery is happening much faster than many expected early on in the pandemic or was predicted even as recently as the start of Joe Biden’s presidency. … The Federal Reserve has recently begun raising interest rates in an effort to reduce inflation. … Fed officials have argued that even if higher interest rates end up reducing demand for workers, that won’t necessarily cause people to lose their jobs. Why? As of March, there were about twice as many jobs open as there were unemployed workers available to fill them. Maybe employers can take down some of their job ads without laying more people off.”

One more opinion piece from the Left: A recession may be around the corner. Don't panic Allison Morrow, CNN Business

RIGHT-LEANING SENTIMENT

Economic Downturn Is Coming, Making Elites Happy, Causing Others Pain


  • A recession is likely, and global elites conspired with government officials to make it happen, as part of the “Great Reset” using COVID-19 as cover.
  • The Fed is hoping to slow inflation by hiking rates, but history has shown this will inevitably lead to economic hardship, especially because politics is keeping the White House from doing all it can.
  • As rates rise it costs the US government more to pay for the national debt, meaning the only way to truly fix our economic mess is by cutting spending.

“The Impending Economic Crash” Brian Parsons, American Thinker: “In the last 2-3 years, governments made crucial economic mistakes that we are feeling the impact of now. First, they closed down the global supply chain.  Then they tried to make up for a lack of production by flushing economies with the money without the associated production. … If you were attuned to the corporate press, you might be led to believe that the growing hardships we are experiencing were unforeseen. … Some might say that the Biden administration selling the American economy down the river is a matter of incompetence. I tend to lean toward malice. … It would be prudent that we take a page from hurricane alley and batten down the household hatches, so to speak. … Should the crash not come, we can all benefit from taking small steps to improve the economies underneath our own roofs.”

“A Stock Market Reality Check” Editorial Board, Wall Street Journal: “Investors are trying to judge how high the Fed will have to raise rates to break the highest inflation in 40 years. … Markets are trying to make sense of a policy environment that no one has seen in four decades. The market decline does not mean the Fed is wrong to tighten. In our view it has no choice if it wants to avoid a return to the long-term inflation woes of the 1970s. But the economic risks are significant… The surprise will be if there are no nasty financial surprises—meaning credit failures—this year and next. The best economic policy response would be for the White House to spur the supply side of the economy by dropping plans to raise taxes and punish business with new regulation and other harassment. It could also end the political war on fossil fuels. But the Biden Administration seems unwilling to do any of this.”

One more opinion piece from the Right: Recession in the ’70s brought us Hamburger Helper. What can we expect now? Jay Evensen, Deseret News Opinion

FLAG THIS

Growing Fears of Recession, Republicans More Likely to Think So


An online poll conducted in late March surveyed just under 4,000 adults, with 81% of respondents saying they consider it likely the US economy will experience a recession this year.

Republicans (91%) were more likely to predict a recession in comparison to Democrats (73%). The same trend held true for people facing economic hardship, as 88% said they feared a recession (CNBC/Momentive).

A separate study found less than half of Americans have either a “great deal” or “fair amount” of confidence that government officials will do what’s best for the economy. Federal Reserve Chairman Jerome Powell received a vote of confidence from just 43% of respondents, while President Joe Biden checked in at 40% (Gallup).

Flag Poll: Will the US economy experience a recession in 2022? Join our discussion here.

FLAG FINDS

Pump You Up, Gorgeous Gold Watch, Plant Hydration


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WATERCOOLER

Scientology's Early Days, Garbology, Revolutionary Hair

On May 9, 1950, Lafayette Ronald Hubbard (1911-1986) published Dianetics: The Modern Science of Mental Health. With this book, Hubbard introduced a branch of self-help psychology called Dianetics, which quickly caught fire and, over time, morphed into a belief system called Scientology.

BBC: Garbology: How to spot patterns in people's waste

Quanta Magazine: A Short Guide to Hard Problems

Smithsonian Magazine: Molly Pitcher, the Most Famous American Hero Who Never Existed

Today I Learned the hair style Princess Leia wears in Star Wars, was inspired by women of the Mexican Revolution, most notably, guerrilla fighter Clara de la Rocha.

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