McDonald's Sales Fall Worldwide for First Time Since 2020
McDonald's global sales have reportedly declined for the first time in four years amid rising prices and the changing eating habits of consumers.
On Monday, the fast-food giant reported a 1% year-on-year fall in sales from April to June, with total revenue flat at $6.49B and net profit falling 12% to $2.02B.
Narrative A
McDonald's "$5 meal deal" failed to attract enough customers and is partly the reason behind its sales decline over the past three years. Despite being designed to counteract higher grocery prices, it cannibalized sales from higher-priced menu items, contributing to the overall drop in revenue.
Narrative B
McDonald's global sales drop can be countered with a plan that is already in the process of implementation. Its $5 meal deal in the US has exceeded sales expectations. This can be part of a broader strategy to maintain affordability and attract more customers.
Nerd narrative
There's a 50% chance that the first fully automated McDonald's will open in the US by December 2029, according to the Metaculus prediction community.
Venezuela: At Least 11 Dead in Protests Over Maduro's Election Win
At least 11 people have reportedly died amid protests against Venezuelan Pres. Nicolás Maduro's disputed election victory on Monday.
This comes as hundreds took part in an anti-government march from Petare to Caracas while many others reached the capital city's international airport.
Pro-establishment narrative
This mockery of an election has shown that all efforts to ensure a peaceful democratic transition for Venezuela were in vain because Maduro never really intended to carry out free and fair elections — let alone to leave power. González is the rightful president-elect, and the world's democracies must recognize that and pressure Maduro.
Establishment-critical narrative
As expected, far-right mobs in Venezuela have turned back to street violence in yet another desperate, US-backed, undemocratic attempt to overthrow Maduro after losing the popular vote. It's no coincidence that a company closely linked to Washington and the opposition was responsible for exit polls suggesting outcomes far from the official results.
Nerd narrative
There's a 46% chance that there will be a civil war in Venezuela before 2050, according to the Metaculus prediction community.
Mali: Ukraine's Military Intelligence Claims Role in Deadly Wagner Ambush
Tuareg rebels, who killed mercenaries of the Russian Wagner Group in an ambush in northern Mali last week, received key information from Kyiv, the Ukrainian military intelligence service (GRU) said on Monday.
According to GRU spokesperson Andriy Yusov, the militants obtained "necessary information" from Ukraine’s Security Service, enabling what he called "a successful military operation against Russian war criminals."
Pro-Russia narrative
The involvement of Ukraine's military intelligence service in the terrorist attack on Malian soldiers and Russian advisers should be an eye-opener to the whole world. While claims that Ukraine and its Western masters were backing terrorists in Mali were previously considered "Russian propaganda," Kyiv has now revealed the truth. The malign forces that seek to hit Russia at the expense of the Malians must be taught a lesson.
Anti-Russia narrative
That the rebels received crucial GRU support proves that Ukraine is holding Wagner Group war criminals accountable everywhere in the world. Moscow is only concerned with Mali's resources, with profits flowing directly into Russia's war chest. By targeting Wagner in Africa, Kyiv disrupts Moscow's shadow operations and neutralizes some of the most experienced Wagner fighters, benefitting both Ukraine and the Malian people.
Nerd narrative
There is a 68% chance that Mali will experience a successful coup d'état before 2040, according to the Metaculus prediction community.
UK Court Upholds Ban on Puberty Blockers
A high court has ruled that the ban on prescribing puberty blockers to children with gender dysphoria in England, Scotland, and Wales instituted in May is lawful, saying that there was "powerful scientific evidence" in favor of the government's order.
The ban was spurred by the conclusions reached by pediatrician Hilary Cass regarding the available evidence for puberty blockers. The "Cass Report" [also "Cass Review" in some sources] found that the studies in support of puberty blockers were of low quality and had "low certainty" results.
Right narrative
The house of cards that is "youth gender medicine" is surely crumbling. As revealed by the Cass Review, there is a shocking dearth of high-quality evidence for puberty blockers, which flies in the face of the repeated assurances made by the media about their efficacy. This court upheld common sense and kept untested medicine out of the hands of vulnerable children. The court shut down the lie that this experimental medicine is safe and effective.
Left narrative
The healthcare needs of an incredibly vulnerable population have been made into a political football, and we seem to have forgotten that the lives of real children are being affected. When treating a young patient with gender dysphoria, the course of treatment ought to be determined by the doctors and the family, not by politicians. Puberty blockers can help a small group of patients, and a tool needed to ensure their quality of life cannot be taken away wantonly.
India: Massive Landslides Kill Over 120, Trap Dozens
At least 120 people have died (with numbers in flux) after heavy rains triggered massive landslides in the southern Indian state of Kerala's Wayanad district in the early hours of Tuesday.
The death toll is likely to rise as many people are still missing or feared trapped under debris. The affected region is known for its tea and cardamom estates.
Narrative A
Wayanad is part of the Western Ghats Mountain range and, unfortunately, is prone to landslides. An extremely heavy rainfall event can be forecast, but a geologically-based event like a landslide can't be predicted with certainty. Tuesday's landslide was triggered by unprecedented incessant rain, which caused parts of hillocks to collapse, leading to flash floods. However, the authorities are doing their best to rescue and rehabilitate as many people amid treacherous, challenging conditions.
Narrative B
While heavy rainfall and floods are expected in the region during the monsoon season, climate change has exacerbated extreme weather events. Tuesday's landslides in Wayanad indicate that the Arabian Sea's warming is forming deep cloud systems, resulting in more frequent rains in a shortened time frame, causing unexpected and deadly landslides. India must confront the realities of climate change to avoid another catastrophe.
Narrative C
Kerala is used to landslides during heavy rains, however, this disaster's magnitude shows the state's lackluster preparedness and response to natural disasters. Monsoon batters the state every year, but its disaster management authority never warns or evacuates residents in the landslide-prone areas. This tragedy could have been avoided had the authorities acted promptly — they must also investigate how they allowed "development" activities in an ecologically sensitive zone.
Nerd narrative
There's a 50% chance that at least 2.6% of people worldwide will be affected by natural disasters in 2025, according to the Metaculus prediction community.
US National Debt Reaches $35T
On Monday, the US Dept. of the Treasury's daily report showed that the sovereign debt owed by the US has reached $35T for the first time in the country's history.
In June, the Congressional Budget Office estimated that the federal deficit would be $1.9T in 2024, which they project would grow to $2.8T by 2034. Debt held by the public could be a record-breaking 122% of gross domestic product (GDP) by 2034.
Republican narrative
When facing a shortfall, the common sense answer is to reduce spending, but Democrats have decided to tax their way out of this crisis to fuel an inflationary agenda. Fiscal discipline is the only solution, not wanton tax-and-spend policies, and America needs real leadership to bear down on wasteful spending and keep the coffers full. This wasteful deficit spending is not sustainable.
Democratic narrative
The Republicans under Trump have gone from deficit hawks to massive spenders. Their agenda, which involves extending Trump's tax cuts for the rich and making Medicare fork over more money to Big Pharma, is designed to deprive the government of much-needed funding, not solve the debt problem whatsoever. Their "starve the beast" strategy has made America more indebted.
Cynical narrative
Every politician loves to talk about the national debt when convenient, but no politician actually seems to want to reduce it. Economists agree that the US is heading off a fiscal cliff, but the solutions for the problem are too unpalatable for any major party to discuss. Tackling the debt will require reforming Social Security and Medicare — political suicide — and other hard-nosed solutions.
Nerd narrative
There is a 50% chance that the US national debt will reach $50T by February 2030, according to the Metaculus prediction community.
EU: Renewables Surpass Fossil Fuels for First Time
Wind and solar power provided 30% of the EU's electricity for the first time in the first half of 2024, according to the climate think tank Ember.
France, Germany, the Netherlands, and Belgium were among 13 EU nations behind the uptick, having generated more power from renewables than fossil fuels in the first six months of the year.
Narrative A
This latest development marks a watershed moment in the power sector. If EU member states continue to invest in renewable energy and energy efficiency initiatives as planned, they will be on track to achieve their objectives and successfully transition away from fossil fuels.
Narrative B
Despite progress toward climate neutrality, the EU is still painfully reliant on the import of fossil fuels due to domestic supply challenges. While this report is exciting news, it shouldn't be used as an excuse to take the foot off the pedal; the EU is still far from its climate goals.
Nerd narrative
There is a 22% chance the EU will meet its 2030 targets under the Paris Climate Treaty, according to the Metaculus prediction community.
Hezbollah Confirms Israeli Strike Killed Commander in Beirut
Hezbollah confirmed on Wednesday that one of its top commanders was killed in an Israeli strike on Beirut the day prior.
The target of the strike was Fuad Shukr, also known as Hajj Mohsin, a senior adviser to Hezbollah leader Hassan Nasrallah, who Israel accused of being behind a rocket attack on the Golan Heights town Majdal Shams over the weekend that killed 12 children and teens. His body was found under the rubble on Wednesday.
Pro-establishment narrative
Israel must be able to defend itself from terrorist attacks from Gaza or elsewhere, and the US is committed to preventing malicious actors from threatening Israel's legitimate concerns. Nonetheless, no one wants to see the situation on the Lebanese border escalate, and the US will continue working toward a diplomatic solution.
Pro-Israel narrative
If Hezbollah continues to attack Israeli civilians, it will face an even more destructive response. Day after day, Hezbollah has fired rockets into northern Israel, displacing the population and sowing terror. Israel has shown incredible restraint due to foreign pressure, but it will soon have to act more forcefully to deal with the presence of terrorists on its borders.
Narrative C
Hezbollah and the regional resistance's primary goal has always been to end the war in Gaza, not start a far larger regional conflict. Hezbollah's military posture has deterred Israel, forcing it to fight on two fronts. Nonetheless, Israel's aggression against Beirut must be responded to.
Texas Wins $1.4B Settlement in Meta Facial Recognition Lawsuit
Facebook-parent company Meta has agreed to pay a historic $1.4B penalty to the state of Texas to settle a lawsuit filed by Texas Attorney General Ken Paxton that accused the tech giant of illegally capturing users' facial and biometric data without their consent.
Paxton released a statement Tuesday saying that the settlement is the largest amount ever obtained as the result of an action brought by a single state. Meta will pay the $1.4B to Texas over five years.
Narrative A
Attorney General Ken Paxton and the state of Texas secured a massive victory over big tech, and Meta is once again being held accountable for its violation of users' privacy. For a decade, Facebook scanned users' faces and obtained other biometric data without consent, violating Texas law and many other statutes. By winning the largest settlement of its kind, Texas is sending a message that big tech dystopian practices will not be tolerated.
Narrative B
This lawsuit was filed a year after Facebook ended its automatic facial tagging in photos. For five years, Meta has worked to fix any bugs that may violate users' privacy, and the company maintains that it is not responsible for any wrongdoing. Facebook fixed the issues related to facial recognition and biometric data gathering long ago. This settlement officially resolves the matter.
Nerd narrative
There is a 50% chance that the US will adopt national general-purpose data protection regulations by July 2034, according to the Metaculus prediction community.
Ukraine: US to Send Additional $1.7B as Russia Makes Further Gains
The US will send Ukraine an additional $1.7B in military aid, American officials announced Monday.
The package — which includes munitions for air defense systems, artillery, mortars and other missiles — will largely come from long-term contracts through the Ukraine Security Assistance Initiative. Roughly $200M of weaponry will go to Ukraine from existing Pentagon stockpiles.
Pro-establishment narrative
The latest US weapons package includes air defense munitions, rockets and other missiles that Ukraine will be able to use right away. These will continue to place Ukraine in the best circumstances to defend itself from Russian aggression.
Pro-Russia narrative
Even though US national debt reached a record $35T this week, America is continuing to waste away money on the misguided notion that Ukraine can somehow restore its 1991 borders on the battlefield. Politicians in Washington are making an embarrassing and expensive mistake with this latest announcement.
Nerd narrative
There's a 2% chance there will be a bilateral cease-fire or peace agreement in the Russo-Ukraine conflict in 2024, according to the Metaculus prediction community.