On this episode of Brigadoon Radio, Gerald Ashley and Marc Ross discuss inflation, supply chain challenges, central banks moving too slowly, mortgage rates, depressed discretionary spending, how alcohol lost its cool, moves by OPEC+, the need for nuclear energy, the political plays by Team Truss, Biden suggesting Putin is ready for Armageddon, how does NATO respond to a chemical attack, the psyops of the Russo-Ukrainian War, and what they are reading and watching.
Show notes for this episode of Brigadoon Radio:
IMF to lower global growth forecast: WSJ reports the head of the IMF said policymakers must do more to reduce inflation, noting that raising interest rates and other measures are needed despite the short-term pain they could cause.
The Times: Global recovery setback could wipe out $4trn, warns IMF chief
WTO sees sharp slowdown in global trade, pointing to possible recession: High inflation, borrowing costs, and supply disruptions are weakening global demand for exports and imports. WSJ
Ford hikes price of electric F-150 pickup again on rising supply costs: Bloomberg reports the F-150 Lightning Pro now starts at $51,974, up 30% from the original price in May.
Bloomberg: US mortgage rates rise for seventh week to highest in 16 years
How alcohol lost its cool: A third of pub visits are now alcohol-free, but drinking has been losing its cred in pop culture for a while now. Daisy Jones
OPEC, allies move to slash oil production, eliciting blistering White House response: WP reports White House officials reacted after the OPEC Plus coalition moved to curb production in response to falling prices.
White House accuses OPEC+ of aligning with Russia: FT reports oil production cuts prompt backlash from Washington amid soaring energy inflation.
US to ease Venezuela sanctions, enabling Chevron to pump oil: WSJ reports the proposed deal would require Caracas to open talks with political opponents, with the aim of free elections in 2024.
The Trussonomics warning: The UK government's disastrous rollout of its "mini-budget" is a cautionary tale for policymakers around the world as they pursue measures to help households deal with rising energy prices and inflation. When an economy is already operating near capacity, one group's benefit is another group's cost. Jason Furman
‘Seeking hope’: MPs reflect on Liz Truss’s calamitous Tory conference: Some Conservatives fear the party is heading for defeat at the next election as the new PM reels from setbacks. FT
A chaotic conference fractures Liz Truss’s young premiership: Twelve years in power catch up with the Conservatives. Economist
Night of the hurried U-turn: How Truss and Kwarteng dumped their tax cut: Even as Liz Truss was being toasted for her tax-cutting resolve, PM and chancellor were bowing to clamor to reverse course. Guardian
UK Leader Liz Truss faces political backlash after sparking market turmoil: The new prime minister came to office promising Thatcher-esque economic revival, but skepticism has mounted among investors, and her own lawmakers. WSJ
Tory MPs aren’t happy — and neither is Liz Truss The Times
Labour are ‘very clearly the favorites’ to win the next UK election, pollster Sir John Curtice said.
Putin at 70: Isolated, irrational, and fearing for his health: There seems little for the president to celebrate on Friday as Russia’s elite dares to ask: is he losing control? The Times
An unhinged Putin is a warning to China and Xi: As he turns 70, Vladimir Putin won’t be reflecting on how his longevity at the top has resulted in a rotten state structure and disaster abroad. Xi Jinping, who is 69 and counting, should. Clara Ferreira Marques
Putin’s apocalyptic end game in Ukraine: Annexation and mobilization make nuclear war more likely. Tatiana Stanovaya
WP: Russians flee by boat to Alaska after Putin’s military mobilization
CCP convenes to prepare for 20th National Congress: On Sunday, the 19th Central Committee of the Chinese Communist Party will hold its seventh and final plenum in Beijing, bringing its five-year term to an end. Led by General Secretary Xi Jinping, the plenum is expected to fix the agenda for the national party congress, which starts on October 16 and ushers in the party's new leaders.
Skandal! Bringing Down Wirecard Netflix
Rogue Male - Geoffrey Household Amazon
38 at the Garden: HBO documentary 38 At The Garden recognizes a pivotal moment in time for Lin and celebrates a phenomenon that was bigger than basketball for the world. Trailer
Superforecasting: The Art and Science of Prediction - Philip E. Tetlock + Dan Gardner Amazon
Magic and Loss: The Internet as Art - Virginia Heffernan Amazon
