Russia’s National Wealth Fund has plummeted from US$150 billion before the Ukraine invasion to approximately US$38 billion, largely due to the ongoing war effort. This significant decrease is further exacerbated by the depletion of gold reserves and other illiquid assets. Military overspending, totaling US$5 billion in the last three months alone, significantly contributes to this economic decline. Ukraine’s intelligence service predicts severe economic difficulties for Russia by year’s end, including energy sector crises and labor shortages.
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Amanda Litman’s Run for Something has recruited and trained over 1,500 progressive candidates under 40 since 2017, aiming to revitalize the Democratic party. Following the 2024 election loss, a younger generation of Democrats is challenging incumbents and advocating for systemic change, a shift Litman anticipated. This includes open conversations about the need for older leaders to retire gracefully, allowing for a smoother transition of power. Litman argues that primaries, while sometimes avoided, are crucial for improving political skills and identifying effective leaders capable of confronting the challenges ahead.
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A social media post, re-shared by Donald Trump, referred to Joe Biden as a “decrepit corpse” and accused him of election theft and treason. This follows Trump’s previous assertions of Biden’s cognitive decline and recent comments regarding Biden’s prostate cancer diagnosis, which Trump characterized as a potential cover-up. The post alleges Biden’s administration used an autopen to enact harmful policies. Criticism of Biden’s fitness for office has been ongoing, fueled by recent books alleging a White House cover-up of his declining health.
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Following a phone call with European Commission President Ursula von der Leyen, President Trump agreed to delay the implementation of a 50 percent tariff on European Union goods until July 9, 2025. This postponement follows Trump’s earlier announcement of the tariff, which had caused market volatility. Von der Leyen requested the extension to allow for expedited trade negotiations. The agreement defused immediate trade tensions between the U.S. and the EU, averting a potentially significant economic disruption.
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Following a deadly Russian attack on Ukraine, Donald Trump publicly condemned Vladimir Putin, calling him “crazy” for the unprovoked violence. The Kremlin responded by attributing Trump’s remarks to “emotional overload,” while also noting past U.S. involvement in facilitating negotiations. Trump’s past attempts to mediate peace talks, including a phone call with Putin, yielded little progress, and Russia’s subsequent escalation of attacks appears to have caught Trump off guard. Despite previous assertions of his ability to manage the situation, Trump now considers further sanctions against Russia.
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Republican Senators Ron Johnson and Rand Paul voiced strong opposition to President Trump’s budget bill, citing its significant increase to the national debt—projected at $3.1 trillion over ten years by the CBO. Their concerns center on the bill’s tax cuts and increased spending, which they deem fiscally irresponsible. Paul conditionally supports the bill only if the $4 trillion debt ceiling increase is removed, while Johnson called the bill “immoral.” The bill’s passage in the Senate faces uncertainty given the narrow Republican majority and the growing number of GOP senators expressing reservations.
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Chancellor Merz announced the lifting of range restrictions on Western weapons supplied to Ukraine, enabling attacks on Russian military targets. This decision, confirmed across multiple Western nations, signifies intensified support for Ukraine’s self-defense capabilities. While Merz didn’t explicitly confirm Taurus missile provision, the statement indicates a significant escalation in military aid. He remains pessimistic about a swift end to the conflict, though he expressed hope for future peace negotiations. Germany’s commitment to actively supporting peace efforts remains strong.
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During a Southeast Asian tour, French President Macron asserted that Russia’s war in Ukraine, aided by North Korean soldiers, destabilizes both Europe and Asia, urging partner nations to diversify arms suppliers away from Moscow. He believes that President Trump now recognizes Putin’s deceptive peace overtures, highlighting the inherent contradiction of simultaneously claiming readiness for negotiations while escalating attacks. Macron stressed the unacceptable nature of Russia’s actions and advocated for the longest possible ceasefire. This follows Trump’s recent condemnation of Russia’s aggression, although he also criticized Ukrainian President Zelenskyy.
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Following increased threats against Israelis and Jews in Canada, Israel raised its travel advisory to a “potential threat level.” This warning, issued by the National Security Council, cites radicalized anti-Israel protests planned alongside the annual Walk with Israel event. The advisory urges attendees to heed police instructions and avoid confrontation, while also recommending increased vigilance and caution for Israelis in Canada. Recent incidents include arrests for hate speech and threats, as well as vandalism at synagogues, highlighting a concerning rise in anti-Semitic activity.
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Video footage of French President Emmanuel Macron and his wife Brigitte sparked media speculation after showing Brigitte appearing to push Macron’s face away upon disembarking their plane in Vietnam. President Macron clarified that the interaction was playful banter, dismissing the incident as an overblown reaction and a cautionary example of social media disinformation. His office similarly characterized the moment as a private joke between the couple before their official engagements. The incident highlighted the ease with which seemingly innocuous moments can be misinterpreted and amplified online.
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John Q. Hosedrinker