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President Biden bans Russian oil and labels higher energy costs Putin’s Price Hike, Senator Elizabeth Warren is here to talk about Russian oligarchs and crypto bros, and Kevin McCarthy tells Marjorie Taylor Greene that she’s not allowed to attend any more events sponsored by white nationalist Putin fans this year.
For a closed-captioned version of this episode, click here. For a transcript of this episode, please email transcripts@crooked.com and include the name of the podcast.
Inflation hits 7.9% and gets more political than ever.
This episode is sponsored by Nexo.io, Arculus and FTX US.
The U.S. inflation print ran hot again last month, hitting 7.9% year over year and the highest in four decades. In this episode, NLW breaks down the numbers within the numbers. He also previews the evolving politics around inflation and how Russia’s invasion of Ukraine has made inflation even more front and center in the global economy.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Michele Musso , research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Joe Buglewicz/Bloomberg via Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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That's how Bill Mann describes the importance of the oil & gas industry in Russia. (0:20) As we take stock of where we are at this moment, Bill discusses: - Ripple effects for European countries - Whether seizing property of Western companies would spell the end of foreign investment in Russia - Why Energy Secretary Granholm's recent comments give him hope - Rising raw material costs affecting companies like McDonald's and Domino's Pizza - The J Curve (12:15) If Russia provides just 3% of America's oil supply then why have gas prices spiked? Ricky Mulvey talks with Nick Sciple to get some context. Stocks discussed: MCD, SBUX, KO, DPZ Host: Chris Hill Guests: Bill Mann, Nick Sciple Producer: Ricky Mulvey Engineers: Rick Engdahl
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Hong Kong had been very successful at preventing the spread of Covid-19. Testing and isolation measures were very effective. However, vaccine uptake was low amongst elderly people and that says virologist Malik Peiris has now left them vulnerable to the highly infectious Omicron variant.
The bombing of a scientific institute in the Ukrainian city of Kharkiv has echoes of the Stalinist purges says physicist and historical Mikhail Shifman. He tells us how the institute developed as a leading centre for physics in the 1930s, but scientists there fled or were murdered after being targeted by Stalin’s regime.
Economic sanctions and other measures designed to isolate Russia are likely to have an impact on Russian participation in international scientific collaborations. Nikolay Voronin from the BBC’s Russian Service gives us his assessment of the immediate impact and, if the conflict continues long term, the potential for Russian science to retreat the kind of isolation last seen during the cold war.
Presenter: Roland Pease Producer: Julian Siddle
(Photo: Patients wearing face masks rest at a makeshift treatment area outside a hospital, following a Covid-19 outbreak in Hong Kong, 2 March, 2022. Credit: Tyrone Siu/Reuters)
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