🔎 Picks of the Week – July 31
Southern Hemisphere Flu Season, Israel Russia Protests, UK Russian Election Interference, Antartica Methane, Virtual Hajj,10 Years of Dodd-Frank
Hello! Happy Friday and welcome to another Picks of the Week! Today we’ll traverse the southern hemisphere to explore what the winter flu season might tell us about the northern hemisphere’s forthcoming flu season, to Israel and Russia where people are increasingly fed up with their authoritarian governments, to the UK where Russia continues to meddle in elections, to the Antartica where there’s bad news for the climate emergency, to Mecca where this year’s Hajj will be vastly different, and to the U.S. where we look at 10 years of the Dodd-Frank financial regulation reform. Next week I’ll announce some exciting news for the podcast and newsletter, but until then, enjoy and stay safe out there. ✊
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Southern Hemisphere Flu Season
We’ll start proceedings this week in the southern hemisphere as my WSJ colleagues beautifully point out that Covid-19 lockdown measures have all but wiped out the flu. Flu season in the south typically runs from April to October, at which time it migrates to the northern hemisphere, which then takes over until the following April. So essentially there’s one global flu season, which kills up to 650,000 people per year. Chile is among many countries whose flu cases are near basement levels. Countries in the north can now plan accordingly based on what’s happening in the south, which will likely free up resources to continue the fight against Covid. Positive news!
Source: The Wall Street Journal
Israel and Russia Protest
Moving to Israel and Russia now, two countries experiencing mass protests against their respective governments. Amid prime minister Benjamin Netanyahu’s corruption trial, Israelis have taken to the streets to voice their anger over police brutality and attempts to suppress anti-government movements. Adding to the country’s uncertainty, Netanyahu and rival Benny Gantz’s political differences could lead to a fourth general election in little more than a year. Elsewhere in eastern Russia, people are protesting the arrest of the Khabarovsk region’s popular governor Sergei Furgal, who’s accused of ordering several murders of which he denies. President Vladimir Putin could be facing one of his largest dissents during his time ruling the country, as one recent poll suggests nearly half the country support the protestors.
From Russia With Love
Staying with Russia and the long-awaited report on Russian meddling in the UK’s elections was finally released after the UK government delayed its release until after December’s election. And now we know why. The Intelligence and Security Committee’s 50-page document concluded that the government effectively turned a blind eye to Russian interference in the 2016 Brexit referendum, and ministers actively avoided any evidence or investigation. What’s more, the UK remains a top target for influence for Russia. It raises the legitimate question of whether the referendum that will lead to the UK leaving the EU in January is valid, though it’s almost certain it won’t make a difference to the government and the Conservative Party as a whole.
Key Points, per The Guardian
UK government failed to investigate evidence of successful interference in democratic processes
‘Credible open-source commentary’ suggesting Russia sought to influence Scottish independence referendum
Russian influence in the UK is ‘the new normal’
Links between Russian elite and UK politics
Intelligence community ‘took its eye off the ball’ on Russia
UK’s paper-and-pencil voting system makes direct interference harder
Defending UK’s democratic processes is a ‘hot potato’
Errors in Salisbury poisoning and weapons watchdog hack do not diminish Moscow threat
New legislation needed to replace outdated spy laws
Antartica Methane
Nipping down to Antartica now where scientists have discovered the first active leak of methane from the sea bed, which could be catastrophic if the greenhouse gas continues to seep out. Huge volumes of the gas are thought to be stored under the sea floor in Antartica — up to 23,000 feet below the surface — and the problem is thought to stem from a decrease in the number of the microbes that absorb methane being present. The discovery was first spotted by chance by divers in 2011, and has taken until now for the first lab results to return anything significant. Scientists are becoming increasingly worried about permafrost — a thick subsurface layer of soil that remains below freezing point throughout the year — thawing about 70 years sooner than predicted, which has already led to a giant oil spill in the Arctic earlier this year.
Virtual Mecca
The annual Hajj Festival, where more than two million Muslims make the pilgrimage to Mecca each year, got underway this week, but it won’t be the same as past celebrations. The festival will be significantly impacted by Covid-19 and the travel restrictions imposed by Saudi Arabia to try and stem the spread of the disease, and only a limited number of people already in the country will be able to attend. Cases in the Kingdom have declined in recent weeks, but remain far too high. To counter the disruption, several software companies are attempting to deliver the festivities virtually to millions of people unable to attend in person.
Source: Worldometers
Dodd Frank 10th Anniversary
Last week marked 10 years since the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted, in the aftermath of the Great Recession of 2008. The enormous legislation was the Obama administration’s attempt to reform a financial system that previously lacked any real stability or accountability by imposing tougher regulation on banks and gave greater the Federal Reserve greater oversight. In 2018, Donald Trump announced rollbacks to portions of the act, but left intact the core framework. Fast forward to the present and similar legislation could be on the horizon to better protect economies against the impact of future pandemics, as businesses were woefully unprepared for Covid whose economic damage has and will be catastrophic for any years.
Source: The Wall Street Journal
