05 March 2024

Daily Newsletter

France Makes Abortion a Constitutional Right

The Facts

  • French MPs and senators on Monday voted in a joint session of parliament to enshrine "guaranteed" access to abortion in the nation's constitution, after 780 of 925 representatives supported introducing an amendment.

  • Article 34 of France's constitution now reads: "The law determines the conditions by which is exercised the freedom of women to have recourse to an abortion, which is guaranteed."


The Spin

Narrative A

Versailles has made crucial progress in the protection of women's rights, all while the rest of the world seems to be taking steps backwards. Coming amid the dark ripples cast by the US Supreme Court's regressive decision to overturn Roe v. Wade, and another US court's recent move to legally treat embryos as children, the French parliament has sent out a reassuring message to anguished women across the world that it is possible to uphold reproductive rights.

Narrative B

It's ironic that legitimizing the taking of infants' lives is being celebrated in an era of increased emphasis on human rights. Equality and progress should be celebrated, but it should also be emphasized that entrenching the right to terminate pregnancy in France's constitution infringes on the rights of unborn children. This damaging reform risks doing great practical and moral harm.

Nerd narrative

There's a 4% chance that elective abortion will be banned nationally in the US before 2030, according to the Metaculus prediction community.

See sources

China Sets Ambitious 2024 Economic Growth Target

The Facts

  • At the opening of the annual National People's Congress (NPC) on Tuesday, Chinese Premier Li Qiang set a national economic growth target of around 5% in 2024 as the country continues managing its recovery from the pandemic and multiple economic challenges.

  • Li said, "transforming the growth model, making structural adjustments, improving quality, and enhancing performance” are key pillars of achieving China's goals and maintaining economic stability.


The Spin

Pro-China narrative

Despite the pessimistic Western media wishing for China to enter an economic downturn, China is thriving and looking ahead to even better days thanks to Beijing's well-designed reforms. The Chinese economy continues to grow, and its growth rate surpasses that of Western countries, whose economies are contracting.

Anti-China narrative

China's attempt to sell a moderate goal of 5% growth as "ambitious" shows it's facing a profound economic crisis. In short, China is in the midst of a cyclical debt crisis similar to the one that hit the former "economic miracle" Japan. The eventual collapse of the Chinese bubble was inevitable, and Beijing can't hide from its stubborn economic downturn.

Nerd narrative

There's a 57% chance that China's GDP will exceed the US' GDP in any year before 2041, according to the Metaculus prediction community.

See sources

Australian Prime Minister Referred to International Criminal Court

The Facts

  • Australian Prime Minister Anthony Albanese has become the first Western leader to be referred to the International Criminal Court (ICC) under article 15 of the Rome Statute, for aiding and abetting Israel's alleged genocide in Gaza.

  • The 92-page filing, submitted Monday by an Australian law firm reportedly with the endorsement of more than a hundred lawyers, also brings allegations against other senior members of the Australian government — including Foreign Minister Penny Wong and the opposition leader.


The Spin

Pro-establishment narrative

Since the attacks of Oct. 7, Australia has condemned the violence perpetrated by both sides and has routinely called for international humanitarian law to be observed throughout. These allegations are founded on the basis of misinformation and have no credibility going forward.

Establishment-critical narrative

While Albanese is only one of a handful of Western leaders to aid Israel in it actions in Gaza, this is significant as no other leader has yet been referred to the International Criminal Court. While the allegations are yet to be proven, it ought to give the Australian government and other Western states reasons to pause before continuing to provide material support to Israel.

Nerd narrative

There's a 35% chance that the International Criminal Court will bring charges against a member of the Israeli Government or Israeli Defense Force before 2027, according to the Metaculus prediction community.

See sources

UN: Sexual Violence Likely Occurred in Oct. 7 Attack

The Facts

  • A UN investigation found "convincing information" that Hamas has committed rape and sexualized torture against Israeli hostages, adding that there were "reasonable grounds to believe" Hamas used sexual violence during its Oct. 7 attack.

  • The report follows an investigation led by the UN Secretary General's Special Representative on Sexual Violence in Conflict. It cited indications of sexual violence near Kibbutz Re'im. Hamas has denied that it has committed any sexual violence.


The Spin

Pro-Israel narrative

It took the UN far too long to acknowledge the sexually abusive nature of Hamas' Oct. 7 attack, but this report is nevertheless welcomed proof of the group's myriad of atrocities. Importantly, it's not biased toward Israel in any way, as the UN also describes allegations on both sides. What matters now is that the world is finally listening to what Israel has been saying since Oct. 7 — Hamas used rape as a weapon of war.

Pro-Palestine narrative

Investigating war crimes is a painstaking process that takes time, and the UN was doing its due diligence in acquiring documented evidence amidst an information warfare environment. However, while there is no denying or justifying the unspeakable sexual violence committed against Israeli civilians by Hamas, this report does not absolve Israel of the extraordinary atrocities it is continuing to commit in Gaza. Both must be held to account, and this must not be used to deflect from Israel's crimes.

Nerd narrative

There's a 32% chance that Israel will recognize Palestine by 2070, according to the Metaculus prediction community.

See sources

Ex-Trump CFO Weisselberg Pleads Guilty to Perjury

The Facts

  • Allen Weisselberg, the former Chief Financial Officer (CFO) of the Trump Organization, Monday agreed to plead guilty to two counts of perjury in state court in Manhattan in relation to former Pres. Donald Trump's civil fraud trial.

  • Weisselberg, who was accused by Manhattan District Attorney Alvin Bragg's office of lying under oath during a May deposition and the October trial about Trump's financial statements, will be sentenced to five months in jail April 10.


The Spin

Anti-Trump narrative

Perjury laws must be enforced or the entire justice system could fall apart. In this case, not only must Weisselberg be held accountable for his lies, but witnesses in future trials must see that they could pay a price if they decide to give false testimony. Weisselberg refused to provide information about the real target of this and other cases — Donald Trump.

Pro-Trump narrative

The witch hunt orchestrated by the Biden administration continues with this forced plea from an elderly man who's already spent far too much time in jail for the crime of being associated with Trump. This is an authoritarian overreach of the justice system and it only reinforces the need for Trump to prevail in November so he and other innocent citizens won't continue to be persecuted.

Nerd narrative

There's a 57% chance that Trump will be found guilty of any crime in the Manhattan case before Election Day 2024, according to the Metaculus prediction community.

See sources

Trump Wins North Dakota GOP Caucuses

The Facts

  • Former Pres. Donald Trump won the North Dakota Republican caucuses on Monday, his ninth primary victory so far to become the GOP presidential nominee for a third time.

  • He garnered 84.6% of the votes — more than 70 points ahead of his closest rival Nikki Haley. The other candidates, David Stuckenberg and Ryan Binkley, received less than 1% each.


The Spin

Pro-Trump narrative

If Haley had any hopes that her victory in the D.C. primary could somehow help her in Super Tuesday, the North Dakota caucuses crushed them. The former South Carolina governor will continue to be demoralized as long as she insists on lengthening her fruitless campaign. Whether she likes it or not, Trump is the only one that can win the Republican nomination.

Anti-Trump narrative

While Haley will almost certainly not win the GOP nomination, she may become an alternative base aimed at standing up to Trump at the Republican National Convention in July. If Haley manages to win at least five states, then she will be in a position to influence the party platform, remaining a thorn in Trump's side. This is her chance to continue to undermine Trump's cult of personality from within.

Nerd narrative

There's a 65% chance that Nikki Haley will end her 2024 primary campaign before March 15, 2024, according to the Metaculus prediction community.

See sources

Study: Arctic Could Be 'Ice-Free' in a Decade

The Facts

  • Researchers at the University of Colorado at Boulder have claimed that the Arctic Ocean could become ice-free — meaning less than 1M square kilometers (386.1K miles) — on a late August or early September day in the late 2020s or early 2030s.

  • In comparison, the Arctic had a minimum September coverage of 3.3M square kilometers in recent years. An ice-free Arctic would also represent 20% less than the region's minimum ice cover in the 1980s.


The Spin

Left narrative

Unfortunately, this is not the first study to predict an ice-free Arctic. Researchers have warned about this possibility for years, and now that it's on the horizon, the world has warmed too quickly to completely stop it. As the ice melts, allowing the Sun to warm more ocean water, climate change-induced extreme weather patterns are likely to worsen — this is why we must continue to work towards lowering carbon emissions as well as adapt to the incoming effects of mass ice melting.

Right narrative

The issue with climate alarmists isn't that they're completely inaccurate but rather that for decades, their predictions have been way overblown — such as the claim that New York City would be underwater from melting ice by 2014. The unfortunate reality is that these climate activists, rather than sticking to the facts at hand and looking for realistic policy solutions — such as how to navigate the potential benefits of less ice in the Arctic — have decided to inundate the public with fear.

Nerd narrative

There's a 50% chance that the Arctic will be essentially ice-free by January 2038, according to the Metaculus prediction community."

See sources

European Commission Explores Transition to 'War Economy Mode'

The Facts

  • The European Commission met on Tuesday to propose plans for the EU's transition to "war economy mode" and ways to boost the bloc's arms industry in response to the Russian war in Ukraine.

  • The €1.5B ($1.6B) EU defense industry proposal will call on the member states to acquire at least 40% of their collective defense equipment by 2030 with the goal of making intra-state trade of defense equipment worth at least 35% of the EU's total defense market.


The Spin

Narrative A

The Russian invasion of Ukraine uncovered numerous vulnerabilities within the EU's defense sector and the huge extent to which the bloc is reliant on the US. It's high time that the EU increases its self-reliance and rises to meet the threats it faces. For years the EU has underspent on defense, instead counting on the US to provide protection. The EU needs to better meet its NATO commitments and bolster its position within the rules-based order.

Narrative B

This proposal is nowhere near to being approved. First, it would need the approval of 27 different nations as well as the European Parliament, but also, it will likely come after the election of the new European Parliament in June, for which politicians have differing views on whether a defense commissioner post should be created. While the language of the proposal suggests urgency, this plan will likely take some time. It's unlikely that a militaristic force posture will be a near-term reality for Europe.

Nerd narrative

There's a 50% chance that NATO will have at least 32 member countries by December 31, 2025, according to the Metaculus prediction community.

See sources

Bitcoin Hits All-Time High of $69K

The Facts

  • Bitcoin, the world's largest cryptocurrency, reached an all-time high value of $69,202 on Tuesday. The previous record was $68,999 in November 2021.

  • Following the US Securities and Exchange (SEC) approval of the first spot bitcoin Exchange-Traded Fund (ETF) this year, investment firms have poured billions into the new digital assets. BlackRock's iShares Bitcoin Trust, for example, broke $10B on Monday.


The Spin

Pro-establishment narrative

Beyond its proven usefulness as an investment, cryptocurrencies like Bitcoin have the ability to democratize global finance. Most of the developing world, as well as 20% of Americans, either have no bank account or are underbanked, which leads to economic inequality. However, most people across the world do have cell phones, which means digital currency can help members of struggling economies gain access to powerful ones such as the US. As we inch closer to a digital banking system, everyone will have an opportunity to build and grow wealth.

Establishment-critical narrative

While Bitcoin was once full of hope for all global citizens, it has since been taken over by the most powerful and nefarious banking institutions in the world via ETFs. One frightening example is the emergence of Natural Asset Corporations, which, through digital currency, take over the rights to natural resources and then charge the average person for their respective consumption of resources. This is already underway in vulnerable poor countries like the Central African Republic, but the financial elites want to launch it everywhere — quite the opposite of a global financial democracy.

Nerd narrative

There is a 25% chance that one Bitcoin will be worth at least $100K before January 2025, according to the Metaculus prediction community.

See sources

Biden Admin. Announces Latest Crackdown on 'Junk Fees'

The Facts

  • The Biden administration Tuesday announced a series of rule changes and regulations cracking down on so-called "junk fees" associated with late credit card payments, hidden fees, and "bulk billing" for services.

  • One new regulation includes a new Consumer Financial Protection Bureau (CFPB) rule setting an $8 cap for most credit card late fees and requiring banks to show why they should charge more than $8. The average credit card late fee is currently $32.


The Spin

Democratic narrative

The Biden administration continues to be a hero to consumers, who are now due to save billions of dollars. The White House is prioritizing easing the financial burden vulnerable people face, and reducing or eliminating unnecessary "junk fees" is a major part of this fight.

Republican narrative

This is classic government overreach by the Democratic administration. These regulations are going to cause the banking system problems, including reducing competition and disincentivizing people to pay their credit card bills on time. In an effort to bribe people for their votes, the White House is hurting both businesses and consumers.

See sources

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