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- Mo News: Crisis on US-Mexico Border
Mo News: Crisis on US-Mexico Border
Mosheh Oinounou
July 15, 2022
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Good morning everyone - we made it to Friday!
Here's what we cover in today's newsletter:
The latest on the growing crisis on the US-Mexico border
Record Inflation and what it means for consumer prices
Biden makes pledge on Iran during Middle East trip
Suspicious timing for Secret Service deleted text messages
Which of the world's richest people is vowing to give away enough $$ to get off the list?
Latest on a new dog treat recall
Why Amazon is drastically reducing its private-label brand offerings
And as always, what we're watching, reading, and eating this weekend.
🍼And finally, before we start, a special Mo News headline to end the week. Congrats to Jill who gave birth to a healthy boy! Like a good future journalist, Baby Greyson came in before deadline, arriving a couple days earlier than expected. Just as Jill was out shopping for an outfit to take him home from the hospital in, her water broke. Jill successfully bought the outfit and then headed to the hospital for delivery. Both mom and baby are doing well.
~ Mosh
🚨 SOUTHERN BORDER IN CRISIS
Stunning images captured on camera show a massive group of undocumented immigrants crossing over the U.S.-Mexico border into Texas on Wednesday. Experts say this is one of the largest groups to flood into the U.S. illegally in recent months. With COVID restrictions lifted and instability in Central America, the US is seeing the biggest sustained influx of migrants in nearly two decades. ~ Fox News
More details, please: Hundreds of illegal border crossers were being guided through a river by smugglers, often referred to as "coyotes," in Eagle Pass, Texas. Reporters on the ground say the line of migrants went so far back into the trees, it was hard to even get solid headcount.
State of Play: The number of undocumented immigrant crossings at the southwest border once again broke records in May--surpassing 220,000 for the third straight month. The numbers for June have not yet been released by Customs and Border Protection (CBP). On Tuesday alone, there were 2,258 illegal crossings, just in the Del Rio Sector. And arrests made at the southern border this year are on pace to significantly surpass those made in previous years. The Department of Homeland security estimates 441 unaccompanied children will cross the U.S.-Mexico border — and land in border patrol’s custody — every day this year.Southwest Border Encounters, in May of each year:2022: 239,4162021: 180,5972020: 23,2372019: 144,116
Sizzling temps pose serious threat: Death is a constant risk for undocumented migrants attempting to enter the country. Sweltering heat is putting migrants at risk of dehydration and heat stroke, as temperatures break triple digits.
ICE Status: U.S. Immigration and Customs Enforcement will run out of money before October unless the Department of Homeland Security pulls millions of dollars from other programs, as the surge of migrants at the border drives up costs.
Deadly drug smuggling: Fentanyl, a synthetic opioid up to 100 times stronger than morphine, can be fatal in tiny doses and is primarily smuggled into the U.S. through the southern border. Authorities are working overtime seizing record amounts of Fentanyl at the border… but what happens when the drug slides through the cracks? “Fentanyl is killing Americans at an alarming rate,” the DEA is warning. But officials fear there’s no sign of the smuggling stopping when the border is so porous. ~Washington Post
What's Being Done: Mexican President Andres Manuel López Obrador agreed to spend $1.5 billion over the next two years to improve “smart” border technology during meetings Tuesday with President Biden. Both also pledged to continue joint patrols for Mexico and Guatemala to hunt human smugglers along their shared border.
💸 BUYERS BEWARE: PRICE HIKES CONTINUE
Feel like your paycheck isn’t stretching as far as it used to? You’re not wrong. We got brand new inflation numbers this week - and they’re worse than economists projected. ~ CNBC
INFLATION HITS ANOTHER RECORD HIGH
The report: Each month, the government releases the CPI Report (CPI stands for Consumer Price Index. It measures the prices that consumers are paying for goods).
What happened in June? Consumer prices soared 9.1% last month, compared to one year earlier. That’s the biggest yearly increase since 1981... it's no doubt a blast from the past: the last time inflation was this high, 'Physical' by Olivia Newton-John was the number one song on the Billboard Hot 100, and MTV had just launched.
It was also a fairly significant jump from just a month ago. In May, inflation was recorded at 8.6%.To make things more challenging, pay isn't keeping up with inflation. Wages rose 5.1% last month, but the price of goods (like food, clothes, & energy) have risen by a staggering 9.1%. Bottom line: after inflation, workers have actually taken a 3.6% decline in pay over the last year. (The good news (if we can call it that) is that this is something the Federal Reserve is hoping for. Less consumer spending=>less demand=>price decreases.)
What prices are rising the most?🍝 All food ⬆ 10.4%🥖 Cereals & bakery products ⬆ 12.2%🥓 Meats, poultry, fish, & eggs ⬆ 13.8%🚙 Gasoline ⬆ 59.9%⚡️ Energy ⬆ 41.6%
White House Under Fire: This report confirms inflation is still on the rise, despite the White House and the Federal Reserve promising a year ago that it was only temporary. Biden says he'll work more in tandem with the Fed. But he's taking some heat for appearing to deflect blame -- and dismiss the severity of the worse-than-expected report by touting a 40-cent drop in gas prices. Some Republicans are demanding Biden make cabinet changes for "misleading Americans on the economy."
Is the Federal Reserve doing enough? Back in March, the Fed began aggressively raising interest rates in a desperate attempt to slow down the economy just enough to bring down inflation... but it's a risky move. Inflation has only continued to climb, forcing the Fed to hike rates at an even faster pace. Economists fear the rate hikes could backfire -- and lead to a recession (aka shrink the US economy).
How are Americans feeling? Glad you asked. Today we’ll get two more readings on the economy that answer just that. First, the Retail Sales report for the month of June. This tracks if, and how, consumers are spending their money -- and whether or not they're pumping it back into the U.S. economy. Then, the University of Michigan will release its Consumer Sentiment report, measuring how optimistic consumers feel about their finances and the state of the economy.
Producers are also under pressure: Yesterday, the government released its monthly PPI Report (Producer Price Index: how much producers are paying for goods - aka, the wholesale cost.) This inflation report was also worse than expected: wholesale prices spiked to a near-record high of 11.3% in June. This measure is important because price hikes for the producer will likely trickle down to the consumer. ~CNBC
When will it end?! The jury's still out.
How high is the risk of a recession? Obama's former Treasury Secretary warns inflation is unlikely to fall without a "significant economic downturn" first.
🇮🇱🇵🇸🇸🇦BIDEN'S IRAN PLEDGE
Biden holds meeting with Israel's Prime Minister Yair Lapid Thursday. (Photo by MANDEL NGAN/AFP via Getty Images)
As he continues his Middle East swing, President Biden signed a declaration in Jerusalem Thursday pledging never to allow Iran to acquire nuclear weapons. He also committed to partnering with other countries to confront Tehran’s aggression and destabilizing activities in the region.
Iran Concerns: Challenging Iran's growing military threat, nuclear program and aid to terror groups in across the Middle East is something that unites Israel and most of the Arab countries in the region. Israeli PM Yair Lapid said words and diplomacy alone would not stop Iran."The only thing that will stop Iran is knowing that if they continue to develop their nuclear program the free world will use force," Lapid said, adding, "The only way to stop them is to put a credible military threat on the table."But Biden on Thursday dodged questions about whether he would set a deadline for stalled negotiations over Iran's nuclear program. The White House still has hopes to bring back an Obama-era accord that would drop sanctions on Iran in exchange for promises that they would not weaponize their atomic program. [Read More: MO NEWS IRAN DEAL 101]
Next Up: Biden on Friday will travel to the West Bank and meet with President Mahmoud Abbas of the Palestinian Authority. The meeting comes as Biden continues to advocate for a two-state solution to the Israeli-Palestinian conflict, though not much is expected from the meeting.
Weekend Plans: Biden will urge Saudi Arabia to boost oil production when he visits Jeddah this weekend for the final leg of his trip. However, energy experts do not expect a significant increase given the White House's frosty ties with the kingdom and doubts over whether they even have any spare output capacity.
🗞 THE SPEED READ
The Secret Service deleted text messages from Jan. 5 and 6, 2021, after an internal watchdog requested them as part of a review of the department’s handling of last year’s Capitol riot. They could shed light on reported efforts to remove former VP Pence from the Capitol, and former President Trump's alleged attempts to travel to the Capitol to join his supporters on that day. For its part, Secret Service spokesman Anthony Guglielmi said Thursday that the agency did not maliciously delete text messages. According to Guglielmi, the Secret Service "began to reset its mobile phones to factory settings as part of a pre-planned, three-month system migration" starting in January, in which "data resident on some phones was lost."
Texas Attorney General Ken Paxton is taking legal action against President Biden, challenging the administration's abortion guidance that allows doctors to perform abortions in emergency cases, when the mother's life could be at risk. The Biden administration says health providers who perform abortions in such cases would be protected by law, even in states with near-total bans. But Texas is accusing Biden of twisting federal laws.
Bill Gates, the fourth richest man in the world, has announced a $20 billion donation to his philanthropic fund, the Bill & Melinda Gates Foundation. This foundation is the largest private donor to the World Health Organization, second only to the US in annual donations given. Gates says that he will “move down and eventually off the list of the world’s richest people.”
With mass cancellations, staffing shortages, worker strikes, and increased fuel prices, a summer of traveling via plane has become increasingly more difficult. To add to the list, airlines have been misplacing luggage at extraordinary rates. In April alone, almost 220,000 bags were mishandled in the U.S., a 135% increase from the same time last year.
Ivana Trump, First Wife of Former President Trump, Dies at 73 (New York Times)
Ivana Trump, the ex-wife of former President Trump and mother of Ivanka, Eric, and Donald Trump Jr., has died. NYPD confirmed Ivana was found dead in her Upper East Side apartment. EMS pronounced her dead at the scene. Police say the death appeared to be accidental, and that she may have suffered from cardiac arrest. Medical examiners are working to determine the cause of death.
The FDA is recalling batches of Stormberg Foods' dog treats, including Beg & Barker Chicken Breast Strips Dog Treats, Billo’s Best Friend Chicken Breast Strips Dog Treats, and Green Coast Pets Chicken Crisps Dog Treats, "due to a potential contamination of Salmonella." Affected products were distributed between June 8th and June 22nd.
Amazon has started drastically reducing the number of items it sells under its own brands, and the company has discussed the possibility of exiting the private-label business entirely to alleviate regulatory pressure.
New York native Cameron Young went out early on Thursday and shot a sparkling bogey-free 64 in his British Open debut to finish day one in first place at 8-under. Rory McIlroy birdied the 18th to get in at 6-under. Tied for Third: Players champion Cam Smith and Englishman Robert Dinwiddie who both finished at 5-under. However, it is tough times for Tiger Woods. His 78 put him in a tie for 146th place when he walked off the course.
🎉 CHEERS TO THE FREAKIN' WEEKEND
What We're Watching: The British Open on TV, and Where The Crawdads Sing on the big screen.
What We're Reading: A plot twist! Gen Z Actually Hates Working From Home; David Brooks' column: Americans Are Hungry for Change, So Get Ready for More Turmoil (here is the teaser: "I’d like you to consider the possibility that we’re in some sort of pre-revolutionary period")
What We're Eating: Fresh coconut 🥥🌴 It's a sweet treat & a summer classic.
What We're Not Eating: Subway's tuna sandwich, after a judge rules the sandwich chain can be sued over its '100% tuna' claim. Now that sounds fishy.
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