the weekly rundown

46 good bye, and maybe good riddance?

readers, as we mark the end of 2021, we’re announcing that TWR is closing up shop. our last two quarters haven’t seen the reader growth or engagement that we aimed for, so it seems like an appropriate time to wrap things up. we’ve enjoyed our ride together immensely, and are incredibly proud of the issues we put out and you all read.  so, for all three of us, thank you for your support, and we’re sure your inboxes won’t miss our 7am wakeup calls on sundays. as we end 2021 and our run, enjoy our top three story picks of the year: * down with the monarchy [https://theweeklyrundown.letterdrop.com/c/5-down-with-the-monarchy-amazon-unionization], our soapbox rant against the british royalty * Facebook really is evil [https://theweeklyrundown.letterdrop.com/c/32-facebook-really-is-evil-australia-goes-nuclear#big%20idea:%20Facebook%20is%20worse%20than%20you%20thought%20it%20was...], our soapbox rant against Facebook * and before you think we just ranted this year, auf wiedersehen Angela [https://theweeklyrundown.letterdrop.com/c/34-capitol-hill-drama-auf-wiedersehen-angela-1#story%20to%20watch:%20auf%20wiedersehen%20Angela], our ode to Angela Merkel

45 democrats fail, rising interest rates

readers, as we wrap up the third quarter of TWR, we’re reevaluating how we produce this newsletter and how we can make all of you happier. if you have any suggestions, please reach out - sooner than later! if you’d be interested in joining our team as a writer, editor, or narrator, please also shoot us an email [team@theweeklyrundown.us]. BIG IDEA: DEMS BOTCH THEIR BIG SPENDING BILL 1. Joe finally admitted late this week [https://www.npr.org/2021/12/16/1064927774/democrats-forced-to-regroup-as-bidens-signature-spending-bill-stalls] that his big $2 trillion social policy and climate change bill would not pass by the end of the year, possibly dooming his signature “Build Back Better” campaign promise. for the past several months, Joe and senate leadership have insisted that the bill would be passed before christmas, but alas, the Grinch has stolen it. and when we say Grinch, we mean Joe Manchin of course, the most conservative dem in the senate. 2. Manchin is taking issue with the overall price tag of the bill, and specifically seems to be targeting the child tax credit [https://www.washingtonpost.com/us-policy/2021/12/16/senate-democrats-manchin-biden-spending/]. that $600 per month per child check to most families costs a lot, and was originally passed as a temporary COVID stimulus measure, which progressive democrats wanted to make permanent. this impasse comes even after days of private negotiations between the two Joes, though to be honest we’re surprised either of them have the intact mental capacity for such prolonged thought… 3. dems need unanimous support within their party in the senate to pass anything, so expect to see continued drama over this, immigration, and election rights well into the new year STORY TO WATCH: RISING INTEREST RATES HERE, BUT NOT ACROSS THE POND 1. the Fed announced this week [https://www.wsj.com/articles/fed-officials-project-three-rate-rises-next-year-and-accelerate-wind-down-of-stimulus-11639594785] that it plans on hiking interest rates three times next year, beginning in march. they are also more rapidly than previously anticipated ending stimulus measures they began at the start of the pandemic. this all comes amid better than expected jobs growth and higher than expected spikes in the cost of consumer goods and inflation. generally speaking, raising interest rates tends to slow down the economy and inflation. 2. of note, the Fed chair only announced his reversal on interest rates after he was reappointed to another term by Joe, which gave him some capital to spend on this politically unpopular move. more likely though [https://www.wsj.com/articles/why-investors-should-care-about-the-powell-pivot-11639474493?mod=series_inflation], the Fed is realizing that the pandemic permanently shrunk the american labor force, which will force it to maintain higher interest rates than in the past, even if there’s the same level of economic growth. 3. just after the Fed made its announcement, the European Central Bank (the Fed’s equivalent in the eurozone) came out and said they would not be raising interest rates [https://www.wsj.com/articles/ecb-boosts-bond-purchases-as-it-phases-out-pandemic-stimulus-11639659416] at all next year, and would be continuing its stimulus measures. this would probably be an appropriate time to mention what the Bank of England has going on, but ever since Brexit, we just can’t seem to care at all what the british are up to… 4. anyways, while europe and the US are in different phases of their recoveries, it’s clear that the world’s top economists can’t agree on the next appropriate steps. some parts of the eurozone are facing inflation rates not seen since in generations, yet interest rates will still remain low.  THIS WEEK’S IMAGE: THE SHOW MUST GO ON * (The Guardian [https://www.theguardian.com/artanddesign/gallery/2021/dec/17/twenty-photographs-of-the-week#img-1]) the interior of a theater in kentucky was spared destruction by deadly tornadoes, while its outside was…not so lucky WHAT WE’RE READING: “AMERICAN CRISIS” 1. just kidding, of course we didn’t actually read this unfit-for-a-compost-pile excuse of a book, written by now disgraced new york governor Andrew Cuomo. he supposedly wrote it in the midst of the pandemic last year, though it’s come out that he made staffers put it together. that last bit is important - an ethics board has demanded that he forfeit the over $5 million [https://www.nytimes.com/2021/12/14/nyregion/andrew-cuomo-book.html] he made off sales to new york state for misusing governmental resources. 2. it doesn’t really seem like the ethics board has the ability to seize that money, but Cuomo is still facing criminal charges for sexual misconduct while in office. so please, don’t go out and buy this book, but do feel free to revel in its author’s current misery. AND, IN CASE YOU MISSED IT: * Chris Wallace, the last somewhat-sane anchor at Fox News, is leaving that hellhole [https://variety.com/2021/tv/news/chris-wallace-fox-news-channel-departure-1235131514/] for another wasteland, CNN’s streaming platform * a Danish minister responsible for separating immigrant families at their border has been sentenced to prison [https://www.bbc.com/news/world-europe-59636124]. will some US prosecutor please take note?  * the senate unanimously passed a bill [https://www.politico.com/news/2021/12/16/crackdown-on-chinas-treatment-of-muslim-minority-headed-to-bidens-desk-525094] banning imports from Xinjiang, the chinese province where the genocide of ughurs has been taking place * san francisco’s mayor, a progressive darling, has apparently given up on the pipe dream of defunding the police, as she rolls out an aggressive new crackdown [https://www.nytimes.com/2021/12/17/us/san-francisco-state-of-emergency-crime.html] on crime * a homeowner in austin has festooned his house with thirty christmas trees and a scale-replica of the Hogwarts castle [https://www.kut.org/austin/2021-12-15/its-christmastime-at-hogwarts-at-least-in-this-austin-familys-front-yard] the weekly rundown is produced by Yunus, Faisal, and Ahmed. learn more about us [https://letterdrop.com/@theweeklyrundown/about] and email us [team@theweeklyrundown.us] your comments and feedback!

44 inflation (again), Starbucks unionizes

part of our team is traveling this week, so if you’re listening to the audio version of the newsletter, you’re probably noticing a different, more suave, more...distinguished voice. don’t worry, our usual nasally midwestern half-asleep narrator will be back next week, but in the meantime...enjoy. we’re looking for narrators, authors, and editors to join our team, so reach out [team@theweeklyrundown.com] if you’d like to join in the fun. BIG IDEA: YEAH YEAH, INFLATION INFLATION 1. we get it dude, inflation is on the rise. do we really need to spend like four issues on this? prices of consumer goods rose by almost 7% year-over-year [https://www.wsj.com/articles/us-inflation-consumer-price-index-november-2021-11639088867] last month, the largest rise in inflation in almost forty years. new car prices continue to have a huge effect on that number, with the chip shortage crippling the industry. restaurant prices have also increased by about 8% since last november, reflecting rising wages across the hospitality sector. 2. what’s confusing the heck out of businesses and economists is the asymmetry in demand for goods versus services. it makes sense to some degree - COVID is making it more difficult for people to travel and play, so inflation in service industries remain low. instead of spending money on services, people are spending money on buying more goods (aka trying to fill the heart-shaped hole in their chests with junk), resulting in crazy high inflation in things like the consumer price index. 3. this goods-services dynamic is the opposite of the typical economic recovery, which is why everyone is a little confused. the big question is how long this role reversal will last, and if full employment can be reached before inflation gets out of control. in the meantime though, continue enjoying those low airline ticket prices, but really - you’ll still be overpaying for 28” of legroom. STORY TO WATCH: STARBUCKS IS UNIONIZING 1. a Starbucks in buffalo voted to unionize thursday [https://www.vox.com/recode/22825850/starbucks-union-first-organizing-vote-nlrb], the first corporate-owned location in the US to do so. this occurred despite a well-publicized and funded anti-union push by the company over the past few months. one other buffalo location voted against unionizing, and a third location voted in favor, but is facing a recount. union organizers are hoping this will inspire viral collective action not only at other Starbucks locations, but across the unskilled sector. 2. the number of americans in unions has halved since just the 1980’s, and the failure to unionize an Amazon warehouse earlier this year was a big loss as well. however, this small Starbucks win will definitely put some wind behind unions’ sails, especially when considering americans are quitting their jobs in droves and unions have the best public image since the 1960’s. we always knew being a Starbucks barista must suck, but apparently misspelling everyone’s names just isn’t a big enough perk to keep them around… THIS WEEK’S IMAGE: SCREAMING OR LAUGHING? * (The Guardian [https://www.theguardian.com/artanddesign/gallery/2021/dec/10/twenty-photographs-of-the-week]) finally, a good use of dogs - comforting children as they get COVID shots THIS WEEK’S NUMBER: PRO-TRUMP COUNTIES HAVE 3X COVID MORTALITY RATES 1. an analysis this week [https://www.npr.org/sections/health-shots/2021/12/05/1059828993/data-vaccine-misinformation-trump-counties-covid-death-rate] found that people living in counties which voted heavily for You-Know-Who in 2020 had about three times the COVID mortality rate than people living in counties which voted heavily for Joe. that rate doubled to 6x for the reddest tenth of counties compared to the bluest tenth of counties. in short - You-Know-Who supporters are less likely to get vaccinated, and more likely to die from COVID. 2. this shouldn’t come as a huge surprise - 60% of republicans remain unvaccinated (compared to less than 20% of independents and democrats), and most deaths since the vaccine rollout have been among the dummy unvaccinated population.  WHAT WE’RE COOKING: POACHED FRESH HALIBUT 1. we know, we know, we typically stick to satisfying our sweet tooths at home, but we finally got around to making (now-cancelled [https://www.thelily.com/alison-romans-comments-about-chrissy-teigen-and-marie-kondo-lit-a-fire-heres-why-its-still-burning/]) Alison Roman’s tomato poached fish recipe [https://cooking.nytimes.com/recipes/1020279-tomato-poached-fish-with-chile-oil-and-herbs]. what can we say, she may be racist, but her recipes aren’t. 2. we used halibut as the fish, and amped up the spice quite a bit, but the chile oil and crispy fried garlic and shallots were a revelation. some fresh parsley sprinkled on top made for the perfect winter dish - warm, satisfying, and made with mostly pantry ingredients. AND, IN CASE YOU MISSED IT: * the UAE is adopting [https://www.wsj.com/articles/u-a-e-s-new-western-workweek-upsets-friday-brunch-11638912105] a monday to friday workweek, giving up on the facade that they secretly want to be white people * GM is investing $3 billion [https://www.wsj.com/articles/gm-plans-more-than-3-billion-for-electric-vehicle-projects-in-michigan-11639154755] into its michigan plants in its shift to EVs, weeks after Ford announced EV investments which entirely bypassed the state * Joe announced a diplomatic boycott [https://www.reuters.com/world/china/australia-joins-diplomatic-boycott-beijing-winter-games-2021-12-08/] of the 2022 beijing Olympics, along with australia, canada, and the UK * people in delaware drove past a huge highway sign misspelling their state’s name for days before realizing something was up, proving once and for all that no one cares about delaware the weekly rundown is produced by Yunus, Faisal, Ahmed, and Ghanem. learn more about us [https://letterdrop.com/@theweeklyrundown/about] and email us [team@theweeklyrundown.us] your comments and feedback!

43 oxford school shooting, mayday

listen, we know supermarkets are crazy these days because of all your last-minute christmas shopping, but seriously - there should be a minimum age required to use self-checkout lanes. we love the idea of not having to interact with another human being to purchase items, especially when those items happen to be six pints of ice cream and a single spoon, we just can’t stand waiting for the otherwise nice 60-year-old grandma in front of us figure out how to use a barcode scanner.  BIG IDEA: OXFORD SCHOOL SHOOTING 1. a school shooting just a few miles away from where we live took place earlier this week, ending with four dead children [https://www.freep.com/story/news/local/michigan/oakland/2021/12/01/oxford-high-school-shooting-update-michigan-avondale/8819241002/] and a teenage suspect being charged with murder and terrorism as an adult. it’s surreal driving around town with christmas parades cancelled and flags lowered, but also, unfortunately, a normal occurrence here in ‘murica. if it seems a bit more traumatic than usual, it’s because it’s the deadliest school shooting since 2018 [https://www.freep.com/story/news/local/michigan/oakland/2021/12/02/oxford-high-school-shooting-deadliest-us/8819763002/], and the deadliest ever in michigan. 2. while some of the injured are still in the hospital, families are already beginning to question who’s at fault here, other than the terrorist himself. the school itself had safety concerns about the boy, and repeatedly assured parents [https://www.freep.com/story/news/local/michigan/oakland/2021/12/03/oxford-high-school-shooting-suspect-ethan-crumbley-warning-signs/8853333002/] that oxford high was safe for their children to attend. the suspect’s parents were arrested and are being charged with involuntary manslaughter for purchasing the gun used in the massacre for their son, and apparently resisting the school’s attempts to get psychiatric help for him. the suspect’s parents fled oxford for detroit, where they were arrested while hiding in a warehouse. oh, the irony of reverse white flight... 3. in any case, the true responsible parties here are politicians who stand in the way of common sense gun control, most of whom these days are republican. the last time any new gun control laws were passed nationally were in the 1990’s, when the brady bill mandated background checks and waiting periods for gun purchases. now, we wouldn’t be doing our jobs if we didn’t point out that while an even-then-somehow-ancient Joe Biden shepherded the bill through his committee, a young whippersnapper named Bernie Sanders voted against [https://www.politifact.com/factchecks/2020/mar/09/joe-biden/did-bernie-sanders-vote-against-brady-bill-five-ti/] that common sense gun control measure... THIS WEEK’S IMAGE: MAYDAY, MAYDAY * (AFP [https://twitter.com/AFPphoto/status/1466029319038328835/photo/1]) some old guy just casually saunters past a sinking ship off the coast of istanbul. ahh, what it would be like to be this jaded by life... THIS WEEK’S NUMBER: 210K JOBS ADDED IN NOVEMBER 1. the november jobs report was released this week, and man are we (and economists) a little weirded out. on the one hand, half the number of new jobs were created compared to what was expected - 210,000 versus the projected 550,000 [https://www.crainsdetroit.com/economy/one-weirdest-reports-us-payrolls-growth-slowed-november-while-jobless-rate-fell]. on the other hand, the unemployment rate still dropped to 4.2%, and the percentage of americans actively working or looking for work also increased. 2. it’s that last finding which economists are especially excited about. as we talked about in issue 36 [https://theweeklyrundown.letterdrop.com/c/36-dems-shoot-each-other-in-the-foot-rethinking-china#this%20week%E2%80%99s%20number:%201%20in%204%20americans%20quit%20their%20job%20this%20year], many are concerned that the country’s workforce participation rate will never reach pre-pandemic highs due to deaths, early retirements, and more self-employed people. if fewer americans work, that means slower economic growth. while we may never see pre-pandemic workforce participation rates again, at least we’re making some progress. WHAT WE’RE WATCHING: “FOUNDATION” 1. “Foundation”, a dramatic and world-bending scifi TV series by Apple+, wrapped up its first season a couple weeks ago - and we’re here to tell you it’s well worth the watch time. the series was greenlit for a second season after just two episodes [https://deadline.com/2021/10/foundation-renewed-season-2-apple-tv-plus-david-s-goyer-1234852255/], which tells you how much money it’s making for Apple, but audiences must be happy too. while the show does get off to an extremely slow start, and exposition does tend to drag on throughout the series, the plot twists and cinematography will have us keep coming back. 2. based on the book series by Isaac Asimov the show is set tens of thousands of years into the future, when the galaxy is ruled by a dynasty of cloned emperors and mathematicians can predict the future. featuring a remarkably diverse cast alongside the wonderful Jared Harris, we cannot wait for season two to drop sometime in the future. AND, IN CASE YOU MISSED IT: * the incidence of israeli colonists settlers committing violent hate crimes against palestinians in the west bank has skyrocketed by 150% [https://www.washingtonpost.com/world/middle_east/west-bank-settlers-violence-attacks/2021/11/28/7de2f9d2-4bb7-11ec-a7b8-9ed28bf23929_story.html] over the past two years * Amazon will overtake UPS, USPS, and FedEx to become the largest american shipper [https://www.cnbc.com/2021/11/29/amazon-on-track-to-be-largest-us-delivery-service-by-2022-exec-says.html] by the end of the year * Disney+ censored a Simpsons episode [https://www.wsj.com/articles/disneys-missing-simpsons-episode-in-hong-kong-raises-censorship-fears-11638182046] referencing the tiananmen square massacre in hong kong * Apple has decided it is a better parent than you, and will not notify parents [https://www.wsj.com/articles/apples-anti-sexting-tool-for-ios-will-warn-kids-about-nudesbut-wont-notify-parents-11638626402] if their children view or receive nude photos by text * after a foot of snow fell in denmark, 25 Ikea shoppers and employees spent the night [https://www.bbc.com/news/world-europe-59509814] in-store, really seeing if those mattresses would be comfortable to sleep on  the weekly rundown is produced by Yunus, Faisal, and Ahmed. learn more about us [https://letterdrop.com/@theweeklyrundown/about] and email us [team@theweeklyrundown.us] your comments and feedback!

42 covid is back, weekly unemployment numbers

readers, we’re honestly surprised we managed to hoist ourselves out of bed to write this issue following turkey day. we mean seriously, with black friday sales sucking this year, there was even less of a reason not to just succumb to the usual post-prandial thanksgiving day food coma. alas, we realized we had to stick it out, if only for our canadian readers who, for some reason [https://www.cnn.com/2019/10/07/world/canadian-thanksgiving-2019-trnd/index.html], celebrate thanksgiving in october. BIG IDEA: TIME TO LEARN HOW TO SAY “OMICRON” 1. a new COVID variant [https://www.wsj.com/articles/dutch-authorities-isolate-61-covid-19-cases-among-travelers-from-south-africa-11638007221?mod=hp_lead_pos1] is making the rounds in people, the stock markets, and the media, so we’re here to tell you we’re confused over the hubbub too. the W.H.O. categorized this omicron variant, first discovered in south africa, a “variant of concern”, an award also given to the delta variant which has wreaked havoc for the past year. fewer than a hundred cases in south africa have been identified and a handful of cases have also been found in the UK and hong kong. 2. within about 48 hours of the new cases being announced, the EU, US, canada, and other nations already banned travelers from south africa and other southern african nations. stock indexes fell sharply on friday as investors worried that omicron could dampen an already unsteady economic recovery. 3. scientists and the W.H.O. honestly know very little about the variant, other than it is quite different from your normal COVID strain - which could potentially make it more virulent, more contagious, more fatal, and/or more resistant to existing vaccines. at this point in the pandemic, health experts are more likely to overreact than underreact to threats.  4. it will likely take weeks, if not months, to figure out how bad this variant really is. in the meantime though, go get vaccinated dummies, and wear a mask like it’s the 1300’s in europe again [https://media.giphy.com/media/IJJDeKvvG8m9W/source.gif]. THIS WEEK’S IMAGE: ALVIN, THE SQUIRREL * (The Atlantic [https://www.theatlantic.com/photo/2021/11/photos-of-the-week-apple-crisp-squirrel-tea-floating-pumpkin/620825/#img14]) a turkish squirrel steals a sip of turkish tea (in turkey, in case you were wondering). THIS WEEK’S NUMBER: WEEKLY UNEMPLOYMENT CLAIMS FALL TO 199K 1. the number of people filing for unemployment benefits fell to a 52-year low of 199,000 [https://www.cnbc.com/2021/11/24/us-jobless-claims-fall-to-just-199000-the-lowest-level-since-1969.html] people last week. that’s incredibly astonishing, especially when considering the population has skyrocketed from 200 million then to almost 330 million today, and it follows eight straight weeks of declining unemployment claims. 2. so what’s the bottom line? the economy is strong, despite rising inflation due to supply chain issues. it’s clear that the Fed is much more concerned about reaching full employment than inflation, a constant tension they face when setting monetary policy. on our end, we think it’s high time - the Fed’s maniacal obsession with inflation over the past two decades (along with a crippled governmental response to the recession) has led to rising inequality, slow growth, and valuing wealth over earned income. WHAT WE’RE READING: “WHAT THE CEO WANTS YOU TO KNOW” 1. a quick read by our favorite consultant [https://en.wikipedia.org/wiki/Ram_Charan_(consultant)] who also shares a name with a bollywood actor [https://en.wikipedia.org/wiki/Ram_Charan]] (making Google searches super confusing), this book boils down the basics of business finance with insights on how to deliver and perform for your company. the book popularized the idea of business acumen - an intuition leaders gain from understanding the fundamentals of their organization. 2. even if you have little interest in business, this will still help you get inside the head of your typical corporate executive. what do they focus on, how do they view money and talent, and why do they seemingly always want to boil complex ideas down to their basic components? dumbledore says that understanding is the first step towards acceptance, but in this case it might just make you hate the 1% a little bit more. AND, IN CASE YOU MISSED IT: * Sweden’s parliament elected its first female prime minister [https://www.bbc.com/news/world-europe-59400539'], then immediately sacked her a few hours later * a classic gas-powered muscle car, the Dodge Challenger is going the way of the dodo [https://www.motortrend.com/news/dodge-challenger-charger-dead-2024-ev-coming-soon/;], with an EV planned to replace it * a governing coalition has been finalized in germany [https://www.bbc.com/news/world-europe-59399705'], spelling the end of our celebrity crush’s (Angela Merkel) reign of power * an organized gang of dozens of thieves robbed a Nordstrom’s [https://apnews.com/article/lifestyle-arrests-san-francisco-theft-shopping-641c9bebee239d4e48aa310f6e78fb0c] in broad daylight in california. time to defund the police? * a flamingo in canada escaped a zoo this week [https://www.tiktok.com/@zoodegranbyofficiel/video/7031661185204292869?lang=en&is_copy_url=1&is_from_webapp=v1], and instead of making a run for it - decided to visit Tim Horton’s the weekly rundown is produced by Yunus, Faisal, and Ahmed. learn more about us [https://letterdrop.com/@theweeklyrundown/about] and email us [team@theweeklyrundown.us] your comments and feedback!