01 February 2024

Daily Newsletter

Protesting Farmers Converge at EU Summit in Brussels

The Facts

  • On Thursday, protesting farmers — angry over rising costs, climate change rules, and red tape — drove their tractors to EU headquarters in Brussels during an EU summit. They reportedly threw firecrackers and eggs at police during their demonstration.

  • The farmers arrived in groups overnight, entering Brussels early in the morning in freezing temperatures, culminating their weeks-long protest.


The Spin

Progressive narrative

Folding in the face of angry and violent farmers shows a lack of political will on the part of European politicians. Fearing the far right's alarming rise across Europe, incumbent leaders have shown no inclination to take substantial steps to reasonably inform the farmers, let alone tackle their aggression. This is hypocrisy at its finest, and a serious threat to the environment.

Conservative narrative

The EU has done anything but cave to the demands of these farmers. The protesters driving their tractors across Europe are still angry because their leaders are pushing ludicrous policies, like banning the use of fertilizer and forcing land to go fallow. These policies aren't about saving the environment but rather introducing a Soviet-style system of control over the people who ensure food is on the table.

Nerd narrative

There's a 27% chance of the EU meeting its 2030 targets under the Paris Climate Treaty, according to the Metaculus prediction community.

See sources

South Africa: 5 New Nations Agree to Join BRICS

The Facts

  • South Africa's Foreign Minister Naledi Pandor has confirmed that Saudi Arabia, the UAE, Ethiopia, Iran, and Egypt have accepted the invitation to join the BRICS group of emerging economies from Jan. 1 that was extended to them along with Argentina at a summit last year.

  • The bloc accepted the new Argentine government's decision not to join BRICS despite the previous administration's successful membership application, the minister added at a press conference on Wednesday.


The Spin

Pro-establishment narrative

Despite all the hype surrounding BRICS and its alleged growing global influence, the group is unlikely to surpass the G7 as the world's most powerful economic bloc in the years to come. The high-flying vision of reshaping the supposedly unjust, US-led global order will fail due to the group's political, economic, and cultural fragmentation. For example, it's doubtful that the world's largest democracy, India, will accept the growing dominance of autocratic China. Growth alone is no guarantee of success, and BRICS has no solution to its founding defect.

Establishment-critical narrative

The BRICS expansion is further proof that the multipolar world order is taking shape and that the bloc is a driving force behind this trend. An increasing number of Global South countries are rejecting the West's efforts to impose its political and economic will on them. It's precisely from its heterogeneity that the BRICS draws its strength and overcomes the differences and disputes between countries such as India and China. BRICS' growth illustrates the attractiveness of this concept in contrast to the West's unipolar model dominated by the US.

Nerd narrative

There's a 60% chance that any new member will leave BRICS before 2035, according to the Metaculus prediction community.

See sources

US House Passes $79B Bipartisan Tax Bill

The Facts

  • By a 357-70 vote margin, the US House of Representatives on Wednesday passed the Tax Relief for American Families and Workers Act 2024. 188 Democrats and 169 Republicans voted for the bill, with 23 Democrats and 47 Republicans respectively voting against the legislation.

  • The bill allows an increase in maximum refundable child credit for tax returns from $1.4K in the 2022 tax year to $1.8K in 2023, $1.9K in 2024, and $2K in 2025. Topline child tax credit will also be adjusted as per cost of living inflation.


The Spin

Pro-establishment narrative

Despite an uncertain future in the Senate, the bill should be a much-celebrated moment of rare bipartisanship in what is usually a cagey and divided House. While some opposition to the bill inevitably remains on both sides, moderates in the House have done what many deemed impossible and bridged the political divide for the benefit of the American people.

Establishment-critical narrative

Beyond its title, there's little to celebrate concerning the House's intentionally deceitful bill. Under the veil of taxation reduction, 91.5% of the bill's impact will not be found within the pockets of America's typical household. Rather, the legislation de facto expands welfare eligibility which is harmful from a workforce and immigration perspective. Once again, Congress continues to ignore the average American citizen.

Nerd narrative

There is a 50% chance that the Republican Party will maintain a majority in the House of Representatives in 2024, according to the Metaculus prediction community.

See sources

Judge Dismisses Disney's Lawsuit Against Ron DeSantis

The Facts

  • A federal judge has dismissed Walt Disney Parks and Resorts' lawsuit against Florida Gov. Ron DeSantis and other GOP lawmakers, ruling that the plaintiff lacked standing to sue the governor and his oversight board.

  • Disney had filed a First Amendment federal lawsuit in 2023 after Florida's legislature dissolved its self-governing status of a special tax district and gave its control to the DeSantis-appointed board.


The Spin

Democratic narrative

It's clear that DeSantis and his allies had teamed up to violate Disney's First Amendment right to free speech, threaten its business, and hurt it financially for its criticism of GOP lawmakers' regressive and reactionary "Don't Say Gay" law. This ruling sets a dangerous precedent and opens up the floodgates for speech suppression.

Republican narrative

The state law stripping Disney of more than five decades of autonomy over the special development district wasn't unconstitutional. Disney may own the land in the district but doesn't have a right to run its own government, make decisions without consulting with state officials, or be placed above the law. Disney's woke agenda just didn't fly here.

Nerd narrative

There's a 2% chance that Ron DeSantis will become US president by 2029, according to the Metaculus prediction community.

See sources

EU Approves €50B Ukraine Aid Package

The Facts

  • All 27 EU countries approved on Thursday a new €50B ($54B) aid package to Ukraine that will run through 2027 as part of its seven-year budget review after Hungary's Viktor Orbán dropped his veto blocking funds for Kyiv.

  • This comes as European Council Pres. Charles Michel and European Commission Pres. Ursula von der Leyen, joined by the leaders of France, Germany, and Italy, held a closed-door meeting with the Hungarian leader, which was later widened to include other leaders.


The Spin

Pro-establishment narrative

The Ukrainian people have desperately waited for this lifeline for months, so, thankfully, every state leader within the bloc finally took a stand to offer their support. Not only does this funding help protect Ukraine, but it also helps ensure Russia can't threaten European security further to the west. As compromises were made that benefit every party involved, the EU can rest assured that it's impenetrably unified against Russian aggression.

Establishment-critical narrative

The EU's performative, albeit somewhat financially significant commitment to Kyiv will do nothing for the Ukrainian people and even less for its own citizens. For all their talk about Russia threatening to move further west than Ukraine, the EU and NATO have only seen their militaries shrink in size and funding. This war has been and will continue to be between Moscow and Kyiv — and Russia is still winning.

Nerd narrative

There's a 29% chance that Ukraine will join the EU before 2030, according to the Metaculus prediction community.

See sources

Russia and Ukraine Complete First Prisoner Swap Since Plane Crash

The Facts

  • Amid tensions and distrust following the crash of a Russian transport plane last week — which Russia blamed on Ukraine and said had been carrying 65 Ukrainian prisoners of war (POWs) — both nations completed their first prisoner swap since the incident on Wednesday.

  • Russia's Defense Ministry said that each country returned 195 POWs. However, shortly thereafter, Ukrainian Pres. Volodymyr Zelenskyy said 207 Ukrainians were returned home. There was no explanation for the discrepancy and the true figure of how many prisoners were exchanged could not be independently confirmed.


The Spin

Pro-Ukraine narrative

In this latest exchange, Ukraine was able to return 207 of its defenders home. Ukraine will always do everything in its power to ensure that those held in Russian captivity will be returned.

Pro-Russia narrative

Despite Ukraine's illegal and terroristic actions in bringing down a Russian military plane, Moscow will continue conducting prisoner exchanges as it's important that its people are returned home. 195 prisoners were returned in the latest exchange.

Nerd narrative

There's a 20% chance that the next Russian leader will disapprove of the Russian invasion of Ukraine, according to the Metaculus prediction community.

See sources

Jordan: Over 30 Reportedly Targeted by Pegasus Spyware

The Facts

  • According to a recent investigation, over 30 people in Jordan — including journalists, lawyers, and human rights activists — were hacked with the Israeli-made Pegasus spyware.

  • In a report released Thursday, digital rights organization Access Now along with Citizen Lab — a cybersecurity watchdog associated with the University of Toronto — documented a number of Pegasus cases in Jordan that they say point to "widespread hacking" and a "targeted surveillance campaign."


The Spin

Establishment-critical narrative

NSO may claim that it only sells its products to properly vetted intelligence and law enforcement agencies, but the truth is that it's selling spyware to foreign governments fully aware that they will likely abuse the software. There are many well-documented cases of spyware being used for politically motivated invasions of privacy to surveil human rights activists and journalists. There needs to be more oversight for spyware companies so that this dystopian business does not continue to happen.

Pro-establishment narrative

As one of the globe's most powerful cyberweapons, Pegasus has been utilized by governments worldwide to thwart terrorist attacks, fight organized crime, and even take down a child trafficking ring. As technology has improved, criminals have been able to hide their shady dealings, but this spyware changes the game. While NSO cannot entirely control what its products are used for, the company has terminated some contracts in the past over reported abuses and remains committed to keeping its software in the right hands. This is ultimately a force for good, even if some rare abuses get media coverage.

Nerd narrative

There is a 1.6% chance that at least one of Egypt, Jordan, or Lebanon will be at war with Israel on May 31, 2024, according to the Metaculus prediction community.

See sources

FTX Will Repay Billions, Won't Revive Company

The Facts

  • Cryptocurrency exchange FTX on Wednesday announced it won't rebuild the company and will instead liquidate all assets and use the funds to repay customers who lost money after FTX's Nov. 2022 bankruptcy. Company lawyer Andy Dietderich said FTX has already recovered $7B in lost assets.

  • FTX, whose founder and former Chief Executive Officer Sam Bankman-Fried was convicted of fraud in federal court last year, previously reported having 36K claims adding up to roughly $16B. Last year, though, it said it would only be able to repay 90%.


The Spin

Pro-establishment narrative

This announcement is a win for the victims of the FTX scam. The law clearly states that debtors must receive compensation based on the date of bankruptcy. The government has convicted these fraudsters and forced them to find the money to repay their customers. Plus, Bankman-Fried will probably wind up behind bars.

Establishment-critical narrative

The potential for victims to recoup some funds shouldn't overshadow that Alameda Research was also linked to multiple sketchy banks whose business dealings seem to have been conveniently overlooked by regulators. There must be as much scrutiny of the corporate-government cooperation in this case as there has been of Bankman-Fried.

Nerd narrative

There's a 50% chance that Bankman-Fried will be sentenced to at least 287 months in prison before Jan. 1, 2026, according to the Metaculus prediction community.

See sources

eBay to Pay $59M Over Sales of Drug-Making Tools

The Facts

  • Online auction site eBay on Wednesday announced a $59M settlement with the US Dept. of Justice (DOJ) over allegations eBay violated the Controlled Substances Act (CSA) by allowing the sale of thousands of pill presses and encapsulating machines on its website.

  • The government had also accused eBay of allowing the sale of counterfeit molds, stamps, and dies that are used to mimic real pharmaceuticals. In the settlement, eBay denied that it was subject to the CSA and didn't admit liability.


The Spin

Narrative A

eBay chose to settle this case because it knew it had violated several government regulations, in particular the CSA. Hopefully, this financial penalty will deter the e-commerce giant from ever placing these items for sale again.

Narrative B

This settlement isn't an admission of guilt, but a way to avoid the cost of a lengthy legal battle. eBay continues to have a positive history of working voluntarily with law enforcement to take such products off its site. Customers can rest assured eBay will continue to provide safe and customer-focused service.

See sources

UK Judge Dismisses Trump's Case Against Steele Dossier Creator

The Facts

  • A London High Court Judge on Thursday dismissed a lawsuit filed by former US Pres. Donald Trump against Orbis Business Intelligence, a company founded by British spy Christopher Steele. Trump argued the claims in the notorious Steele dossier were false and harmed his reputation.

  • In 2017, Buzzfeed published the dossier, which alleged Trump engaged in “perverted sexual behavior” in Russia and accused him of paying bribes to Russian officials to advance his business interests. Trump called all of the allegations “wholly untrue.”


The Spin

Anti-Trump narrative

Whether he’s the plaintiff or the defendant, Donald Trump continues to lose every legal battle he’s engaged in. The former president complained continuously about the Steele dossier, yet he waited many years to file any sort of legal action. Judge Steyn correctly called out the frivolous suit and his passivity, but that doesn’t end Trump’s legal woes by a longshot. This ruling is just an omen for future Trump legal losses.

Pro-Trump narrative

Everyone knows that the Steele dossier was a slanderous fabrication paid for by Hillary Clinton and the Democratic Party that sought to undermine Trump before he even took office. Even a biased judge couldn’t refute the heinous lies that the dossier contained, simply dismissing Trump’s case because he let too much time elapse. The judge also used various legal technicalities to throw out the case and deprive Trump of having a legitimate hearing. Regardless of the outcome, the Steele dossier exposed the corruption of Trump’s enemies.

Nerd narrative

There's a 60% chance that Donald Trump will be convicted of at least one crime in his federal court cases before the end of 2024, according to the Metaculus prediction community.

See sources

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