05 May 2022
Daily Newsletter
Report: North Korea Fires Ballistic Missile Ahead of Yoon's Inauguration
The Facts
Japanese and South Korean officials said a ballistic missile was fired by North Korea eastward into the Sea of Japan on Wednesday.
This is the first launch since Kim Jong Un vowed to ramp up his development of nuclear arms at a military parade on April 25.
So far this year, Pyongyang has conducted more than a dozen missile launches, testing weaponry at an unprecedented rate.
The Spin
Pro-establishment narrative
North Korea's actions pose a severe threat to peace and to the stability of the Korean peninsula. The US has so far failed to prevent the DPRK from becoming a nuclear power; it's time to take a strong stance.
Establishment-critical narrative
North Korea's actions are defensive. Powerful weapons are needed for nuclear war deterrence, and to avert imperialist threats and blackmail.
NFL: Cardinals' Hopkins Banned 6 Games for PEDs
The Facts
Arizona Cardinals WR DeAndre Hopkins was suspended for the first 6 games of the 2022 NFL season Mon. for violating the NFL's policy on using Performance Enhancing Drugs (PEDs). The league didn't reveal what Hopkins tested positive for.
Despite the suspension, Hopkins is eligible to participate in all preseason practices and preseason games.
In a tweeted statement, Hopkins said he was "confused and shocked" by the positive test and that he's working with his team to "investigate how this could've happened."
The Spin
Narrative A
The NFL generally downplays PED use as the league's popularity continues to grow, which is hypocritical considering how other sports like baseball are scrutinized. Thirteen NFL players were busted last season and none had their reputations tarnished. Hopkins is accepting his suspension without a fight because he knows he'll be back on the field this season.
Narrative B
Hopkins is actually facing stiff consequences for PED use. Even if he's rich from all his years in the NFL, Hopkins will still be hurt by this suspension to the tune of $5M.
Starbucks Will Raise Wages Again, but not for Unionized Workers
The Facts
On Tues., Starbucks CEO Howard Schultz said he will offer new benefits to the company's staff, including higher wages, expanded training, improved sick leave, and credit card tipping. The benefits only apply to non-unionized stores as Starbucks is not permitted to offer new benefits to a unionized or unionizing store, where changes must be agreed through the collective bargaining process.
The announcement follows a commitment to increase the minimum wage of employees to $15 this year, and to raise the pay of employees with 2-5 yrs experience by at least 5%. Workers with 5+ yrs experience will recieve a raise of at least 7%.
Since Aug., more than 230 Starbucks stores have filed petitions for union elections, and roughly 50 stores have voted to join the national union Workers United.
The Spin
Establishment-critical narrative
Schultz is purposely misinterpreting the law. By withholding benefits from unionized stores, Starbucks is violating federal labor laws and, with the help of Workers United, Schultz will be held responsible for his threatening and illegal behaviour. Starbucks workers need to unionize to protect their employment rights.
Pro-establishment narrative
The announcement makes it clear that unions cannot even come close to the perks Starbucks can offer. Schultz's return as CEO has seen a rise in quarterly sales and profits that can now be used to invest in workers and operations. Rather than obstructing progress for workers in the company with complicated systems of representation, employees would be better off not-unionizing and benefiting from the changes Starbucks can make unilaterally.
Progressive narrative
Although the wave of unionization sweeping companies like Amazon and Starbucks should be celebrated, the current scale of worker organization stops short of posing a real challenge to corporate America. If union leaders are sincere in their wish to reverse the decline of the labor movement, they must push the spread of organization to further companies and collectivize power in whole sectors to consolidate workers' influence.
Biogen Distances Itself from Troubled Alzheimer's Drug
The Facts
Biogen CEO Michel Vounatsos is stepping down, and the company will largely give up the marketing of Alzheimer's medication Aduhelm, in an attempt to distance itself from the controversial drug.
It worked by targeting brain plaque amyloid, and was the first Alzheimer's drug in two decades to be approved by the FDA.
Aduhelm has faced a number of setbacks. Despite a lack of compelling evidence that it was effective in tackling cognitive decline, the FDA approved the drug in June last year.
The Spin
Pro-establishment narrative
Although the withdrawal of Aduhelm is a disappointment, Biogen is looking ahead to major reforms and a new and promising monoclonal antibody called Lecanemab. Between a stunning strategic overhaul in the company, and the rapid acceleration of Lecanemab towards regulation approval, Biogen is progressing towards its ultimate goal of finding an effective Alzheimer's treatment.
Establishment-critical narrative
The controversy surrounding Aduhelm is a colossal failure that has cost Biogen's CEO his job. The FDA approved the drug despite unanimous opposition from its advisory panel. When evidence showed it was ineffective, Biogen selected the most convenient data to plead the case for the treatment. The company has destroyed itself with corrupt and underhand tactics.
Nerd narrative
There is a 99% chance that there will be a breakthrough in protein structure prediction by 2031, according to the Metaculus prediction community.
FED Raises Rates: Biggest Hike Since 2000
The Facts
On Wed., the Federal Reserve ("Fed") raised its benchmark interest rate by 0.5 percentage points, marking the sharpest increase since 2000.
The increase was unanimously approved by the committee's ten voting members and will raise the target range for the federal funds rate to 0.75–1%.
This is the second of seven expected rate increases this year, following the first increase in March.
The Spin
Establishment-critical narrative
The Fed's goal to dampen inflation without inducing a recession - known as a "soft-landing" - is a pipe dream. The central bank waited too long to start cooling inflation and is now overcompensating, which runs the risk of slowing the economy so much that it shrinks.
Pro-establishment narrative
There is broad consensus among Fed bankers and economists that it's time for some quantitative tightening to rein in inflation, and the market is breathing a sigh of relief after the latest announcement. While the process of bringing down inflation is not pain-free, the economy is strong and a recession isn't likely.
Nerd narrative
There is a 66% chance that the US will enter a recession before Jan. 2024, according to the Metaculus prediction community.
Day 71 Roundup: US Intelligence Reportedly Helping Ukraine Kill Russian Generals; Russia Claims 600 Ukrainian Fighters Killed
The Facts
The US has given Ukraine intelligence that has helped target and kill Russian generals in the course of its invasion, unnamed US officials told the New York Times. The Pentagon previously acknowledged it's sharing intelligence with Ukraine "to defend themselves," but not to the extent that it's being used for deadly attacks.
Ukraine says it has killed an estimated 12 Russian generals in the course of the war so far. US officials declined to specify how many were as a result of American intelligence.
Meanwhile, Russia's defense ministry said it killed 600 Ukrainian fighters, as well as destroying 61 pieces of military equipment, in overnight airstrikes. The numbers couldn't be independently confirmed.
The Spin
Pro-establishment narrative
US military support for Ukraine, including intelligence sharing, has been a crucial part of shattering Putin's ambitions of a swift victory and has been instrumental in holding back Russian advances. The US must support Ukraine as long as necessary.
Establishment-critical narrative
Russia has long been aware of America's intelligence sharing with Ukraine, in addition to that of Britain and other NATO countries. This, alongside Western weapons, has only served to drag out the conflict unnecessarily.
Pro-Russia narrative
NATO and the US have ignored Russia's security concerns by breaking its promise not to expand eastward in return for German reunification. These concerns are legitimate and taking them seriously would have avoided the Ukraine tragedy.
Nerd narrative
There is a 91% chance that a deliberate nuclear attack will not happen by January 1, 2024, according to the Metaculus prediction community
Intuit to Pay $141M in Settlement Over Misleading Free Tax-Filing Ads
The Facts
NY AG Letitia James announced Wed. that Intuit, which owns TurboTax, will pay $141M to settle a claim from all 50 states and DC that it deceived nearly 4.4M Americans into paying for tax services that should've been free.
The investigation into Intuit started after a 2019 ProPublica report found the company was using deceptive tactics to steer low-income tax filers away from federally supported free services for which they qualified and, instead, toward its own commercial products.
James noted that consumers won't receive the full $141M, as "roughly $2.5M will be used for administrative fund costs."
The Spin
Narrative A
Intuit very clearly ripped off its users, and justice has been served. Executives at the company knew full well they were deceiving customers, which is unethical and a clear violation of the law.
Establishment-critical narrative
Though this settlement is a positive step in holding a large company accountable for shady business practices, there are systemic issues that must be dealt with. Intuit employed former government officials, including former members of Congress, for its lobbying efforts, much like many other large companies and corporations. It's essential that these practices are prosecuted across the board.
Chauvin Federally Sentenced to 21 Years in Prison
The Facts
On Thurs., former Minneapolis police officer Derek Chauvin was federally sentenced to 245 months [21 years] in prison for the violation of George Floyd's civil rights. Chauvin had been sentenced to 252 months but had seven months subtracted for previous time served.
The sentence will be in parallel with a state sentence of 22.5 years after he was convicted for both second- and third-degree murder. He was also previously convicted of second-degree manslaughter.
During the sentencing, US District Judge Paul Magnuson referred to Chauvin's act against Floyd as both "offensive" and "unconscionable."
The Spin
Left narrative
Floyd's appalling killing forced America to face its troubling issues with racism and police brutality. Chauvin's trial was a key test of the justice system and ongoing developments show progress. However, this is just the beginning, and more must be done to prevent further tragedies.
Right narrative
There is no doubt that Floyd's death was an avoidable tragedy and those responsible must be held accountable. However, Chauvin was tried in a highly publicized and frenzied environment. His state trial was little more than a political charade that didn't give him a full measure of justice.
Oath Keepers Member Pleads Guilty, Reveals Attempt to Contact Trump
The Facts
William Todd Wilson, regional leader of the Oath Keepers militia group, has pleaded guilty to seditious conspiracy and obstructing Congress' certification of the Electoral College votes on Jan. 6, 2021.
The North Carolina resident, who faces 40 years in jail at sentencing, is the third member of the Oath Keepers to plea to the sedition charge.
Wilson is the first to reveal that Oath Keepers leader Stewart Rhodes attempted to contact then-President Trump after the Capitol riot.
The Spin
Democratic narrative
Bit by bit we're learning of the ties between groups that were instrumental in the Jan. 6 attacks on the Capitol, like the Oath Keepers and the Proud Boys, and their close ties to the Trump White House. This is a sign that the political attempt to stop the certification of the votes overlapped with the violent effort.
Pro-Trump narrative
It's absurd to call Jan. 6 a "seditious conspiracy" by unarmed citizens who largely committed no acts of violence. The Democrats are the anti-Americans, targeting patriotic citizens as "domestic terrorists."
