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Tuesday, August 30, 2022
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1.
Presidential Palace in Baghdad Overrun, US Embassy Evacuated by Helicopter

Post Millennial: It was reported on Monday that the Presidential Palace in Baghdad, Iraq was breached, and that the US embassy was reportedly evacuated. There were reports of US embassy employees seen leaving the embassy, and evacuating the Green Zone, via helicopter. Muqtada al Sadr announced on Monday that he was leaving politics, spurring Shiites to riot and breach the presidential palace. Al Sadr is their biggest political leader in Iraq and once led militias during the war. “I hereby announce my final withdrawal,” al-Sadr said (Post Millennial). Benny Johnson: BREAKING: U.S. Embassy employees being evacuated from the roof in Baghdad. This is the new normal under Biden (Twitter).

2.
DOJ’s Review of Seized Mar-a-Lago Documents Already Complete

The DOJ could possibly halt Trump’s efforts to appoint a special master to preside over the taken documents. Fox News: The Justice Department announced in a court filing Monday that they already reviewed documents seized from former President Donald Trump at Mar-a-Lago, and that they identified a “limited set” of documents that could include information protected by attorney-client privilege (Fox News). Washington Post: The filing says prosecutors will provide more information later this week. But it notes that even before the judge’s weekend ruling, the filter team had “identified a limited set of materials that potentially contain attorney-client privileged information, completed its review of those materials, and is in the process of following the procedures” spelled out in the search warrant to handle any privilege disputes. The filing says prosecutors will provide more information later this week. But it notes that even before the judge’s weekend ruling, the filter team had “identified a limited set of materials that potentially contain attorney-client privileged information, completed its review of those materials, and is in the process of following the procedures” spelled out in the search warrant to handle any privilege disputes (Washington Post).

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3.
Elon Musk: We Need Oil and Gas “Because Otherwise Civilization Will Crumble”

Wall Street Journal: Tesla boss Elon Musk told European energy leaders that the world needs more oil and natural gas and should continue operating nuclear power plants while investing heavily in renewable energy sources. “I think we actually need more oil and gas, not less, but simultaneously moving as fast as we can to a sustainable energy economy,” Mr. Musk, Tesla’s chief executive and largest shareholder, told a conference in Stavanger, Norway (Wall Street journal). Daily Wire: “Realistically I think we need to use oil and gas in the short term, because otherwise civilization will crumble,” Musk told reporters. “One of the biggest challenges the world has ever faced is the transition to sustainable energy and to a sustainable economy. That will take some decades to complete.” Many developed countries are indeed shifting their energy portfolios toward renewables and away from conventional sources. As a result, Norwegian production of oil, natural gas, and other fossil fuels reached a peak in 2004 and has steadily declined since, according to data from the Norwegian Petroleum Directorate (Daily Wire).

4.
Russia’s Oil Output Booms

Wall Street Journal: Russia pumps almost as much oil into the global market as it did before its invasion of Ukraine. With oil prices up, Moscow is also making more money. Demand from some of the world’s largest economies has given Russian President Vladimir Putin the upper hand in the energy battle that shadows the war in Ukraine, and has confounded the West’s bid to cripple Russia’s economy with sanctions. Oil revenue more than makes up the difference. “Russia is swimming in cash,” said Elina Ribakova, deputy chief economist at the Institute of International Finance (Wall Street Journal). Daily Caller: The current price of oil is around $100 a barrel, which is $31 higher than its price a year ago due to elevated demand, allowing Russia to heavily profit from its sales (Daily Caller).

5.
Governor Wolf Seeks to Give Pennsylvania Families a “Step Up” with $2,000 Handout

Fox News: Pennsylvania Gov. Tom Wolf is calling on Republican lawmakers in his state Monday to help pass a bill that would allow Pennsylvania to send $2,000 to families making less than $80,000 in order to help them fight inflation. The Democrat said this is his second attempt at trying to get this bill passed and Pennsylvania can afford such payouts as it has an $800 billion economy (Fox News). CBS: Wolf estimates there’s a $5 to $6 billion surplus in the recently passed budget in addition to $5 billion in the rainy-day fund. His $2,000 check plan would cost about $500 million. Since Republicans still control both the state Senate and state House and their support is needed to pass Wolf’s proposal, it’s unlikely to happen (CBS).

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6.
Penn Wharton: Biden’s Loan Forgiveness Could Cost in Excess of $1 Trillion

Just the News: The largest potential cost-driver Penn Wharton identified is the Biden administration’s new income-driven repayment plan, which includes capping monthly student loan payments at 5% of a borrower’s discretionary income and reforming the repayment guidelines to guarantee that no borrower who makes “about the annual equivalent of a $15 minimum wage” will have to make monthly loan payments. Debt cancellation alone will cost the United States up to $519 billion, Wharton found in an analysis published Friday. Loan forbearance, which allows borrowers to temporarily stop paying, will cost an estimated $16 billion. The income-driven repayment plan will initially cost $70 billion, however, specific details have yet to be released and the price may be significantly higher (Just the News). Daily Mail: Joe Biden was warned by the Treasury Secretary and his wife not to cancel student debt, but pressed ahead regardless on the urging of Kamala Harris, it has been claimed. Treasury Secretary Janet Yellen argued that with inflation around a 40-year high, the cancellation of student loans could free up consumer spending and drive inflation higher (Daily Mail).

7.
Rising Rents, Inflation Could Push 3.8 Million Renters Out of Their Homes

MoneyWise: For the first time ever, the median rent in the U.S. topped $2,000 a month in June — and the increases show no sign of stopping. Those rising rents mean that households representing a total of 8.5 million people were behind on their rent at the end of August, according to Census Bureau figures. And 3.8 million of those renters say they’re somewhat or very likely to be evicted in the next two months (MoneyWise). Daily Wire: In some places like Los Angeles County, the local government also has been sluggish in disbursing emergency funds to landlords who lost money when tenants stopped paying (Daily Wire).

8.
Ukraine Hastens to Build Bomb Shelters Before School Year Begins

Reuters: Across Ukraine, authorities are building bomb shelters and repairing thousands of buildings damaged in shelling by Russian forces before the country’s nearly 6 million school-aged children return to school in September – online or in person. Resuming school is a top priority for the government given the war’s long-term social and economic impact on the country, its children and the willingness of those who fled to return (Reuters). ABC: Nearly 2,300 educational institutions were shelled or bombed since the Russian invasion began on February 24, and 286 were completely destroyed, according to Ukraine’s Ministry of Education and Science. More than 350 children have died and 586 have been wounded, UN data shows (ABC).

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9.
Urgent Inspection of Ukraine Nuclear Plant Set for Later This Week Amid Fears of Possible Radiation Catastrophe

Associated Press: A U.N. nuclear watchdog team set off on an urgent mission Monday to safeguard the Russian-occupied Zaporizhzhia atomic power plant at the heart of fighting in Ukraine, a long-awaited trip the world hopes will help avoid a radioactive catastrophe. The stakes couldn’t be higher for the group of International Atomic Energy Agency experts who will visit the plant in a country where the 1986 Chernobyl disaster sent radiation throughout the region, shocked the world and intensified a global push away from nuclear energy. Underscoring the urgency, Ukraine and Russia again accused each other of shelling the wider region around the nuclear power plant, Europe’s largest, which was briefly knocked offline last week. The dangers are so high that officials have begun handing out anti-radiation iodine tablets to nearby residents (Associated Press). NBC: The mission, which will be led by Grossi, will assess physical damage to the plant, determine how well its safety systems are functioning, evaluate working conditions for its staff and perform any urgent safeguard activities, the IAEA said in a separate tweet (NBC).

10.
Karine Jean-Pierre Says Biden Not Briefed on Documents Taken From Mar-a-Lago

National Review: White House press secretary Karine Jean-Pierre said Monday that President Joe Biden has not been briefed on what national security problems the materials seized from Donald Trump’s Mar-a-Lago residence possibly pose. “When it comes to national security questions, and even classified materials, this is just something that we don’t speak to,” Jean-Pierre said Monday during a press briefing. “This is just something that we are not informed on. This is something that is the independence of the Department of Justice. As it relates to [the Office of the Director of National Intelligence], we are not involved, we are not briefed, we are not aware” (National Review).

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