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August 6, 2019

Markets Fall on China Fears

Good morning Middle Americans! The Dow Jones Industrials Average has had five loosing days in a row. Is it a sign that a major recession is on the way? Also today, read about how Mexico is vowing to hold the US accountable for the recent shooting in El Paso, Texas. The march toward impeachment continues in the House of Representatives. And, is there a budding relationship between Lindsay Lohan and the crown prince of Saudi Arabia? Plus, McDonalds is totally regretting the decision to switch to paper straws. Read all about it in today’s brief below

  • Fraser Dixon

China Escalates Trade War

The Dow closed down 767 points for its worst day of 2019 — the S&P 500 tumbled almost 3% and the Nasdaq was off nearly 3.5% — as China let its currency weaken to historically low levels amid its ongoing and escalating trade war with the U.S.

Bloomberg reported that,  “Trump’s trade battle with China is starting to look like a forever war — a quagmire with no end in sight, no clear path to a resolution and more potential land mines for an already weakening global economy.”

Mexico vows to take legal action against U.S. after El Paso massacre

“The president has instructed me to ensure that Mexico’s indignation translates into … efficient, prompt, expeditious and forceful legal actions for Mexico to take a role and demand that conditions are established that protect … Mexicans in the United States,” Foreign Minister Marcelo Ebrard promised Mexico City will act in a video posted on Twitter.

NBC News reports, “Of the 20 people gunned down at a Walmart adjacent to the Cielo Vista Mall, at least seven were Mexican citizens.”

House Judiciary Chair Nadler Expects Impeachment by ‘End of the Year’

House Judiciary Committee Chairman Jerry Nadler (D-NY) says official articles of impeachment could be filed against President Trump by the end of the year. 

Nadler told MSNBC that they expect to get more documents and testimony after court decisions on subpoenas are handed down later this fall. He expects a vote on impeachment after that.  The majority of House Democrats now support impeachment.

What’s Going on Between Lindsay Lohan and the Crown Prince of Saudi Arabia?

According to Page Six, “a wild rumor hit town that Lohan and the bloodthirsty crown prince of Saudi Arabia have gotten close, and that he’s been flying her around in his jets and showering her with presents — including a gift-wrapped credit card. And when we started asking around, a source in her inner circle acknowledged that they ‘know each other.'”

McDonald’s New Paper Straws Aren’t Recyclable, There Old Plastic Ones Were

The fast food giant rolled out new paper straws at more than a thousand restaurants in the United Kingdom and Ireland last year — in an effort to help protect the environment.

The paper straws are too thick to be processed by its recyclers — unlike the plastic versions they replaced, per Business Insider.

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