This week: here comes the recession, the end of the American shale boom, no sleep in the Army, monorail, China’s economy on the rocks, planning for war in Korea, Ukrainians fight back, two of the greatest figures of our age at the Oxford Union, and more. Let’s go —
1) “[T]he cumulative abundance of shale supply delivered over the past 15 years continues to shelter Americans from the sky-high natural gas and fuel prices that have rattled other developed economies, giving its industry a competitive advantage and its households more disposable income. But that transformative age is drawing to a close, say analysts, with unpredictable consequences.”
https://www.ft.com/content/60747b3b-e6ea-47c0-938d-af515816d0f1
2) “The beacon of hope that used to be California is now a fading memory. Once the state symbolized the American Dream and prosperity, with classic cars cruising along Muscle Beach and Hollywood glamour drawing talent and beauty from everywhere: today it is a shadow of its former self, drowning in struggle and decline.”
https://im1776.com/2023/01/13/california/
3) “Republicans have said they are determined to cut spending despite Democrats’ objections. But first they have to produce their own plan, pitting Republicans who want to protect military spending against those who see such expenditures as fair game in any negotiations alongside cuts to domestic programs.”
4) “Our obsession with being informed makes it hard to think long-term. We spend hours consuming news because we want to be informed. The problem is, the news doesn’t make us informed – quite the opposite. The more news we consume, the more misinformed we become.”
https://fs.blog/stop-reading-news/
5) “Despite signs that inflation has started to recede, economists still expect higher interest rates to push the U.S. economy into a recession in the coming year, according to The Wall Street Journal’s latest quarterly survey.”
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