Biden Calls for Ceasefire, Ukraine Set to Join NATO

Yesterday's News: April 5th

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Biden Warns Netanyahu: Change Gaza Tactics or Face Shift in U.S. Support - calls for ‘immediate ceasefire’

Summary: President Joe Biden communicated to Israeli Prime Minister Benjamin Netanyahu that future U.S. support for Israel's military efforts in Gaza hinges on Israel taking immediate, concrete actions to protect civilians and aid workers. This directive followed a contentious phone call that highlighted the dire humanitarian situation in Gaza, particularly after a strike killed seven World Central Kitchen workers. Biden emphasized the necessity of an immediate ceasefire and the urgency of addressing the humanitarian crisis, marking a potential shift in U.S. policy depending on Israel's response to these demands.

Blinken Affirms Ukraine's Path to NATO Membership Amid Continued Support and Political Hurdles

Summary: At yesterday’s NATO meeting in Brussels, U.S. Secretary of State Antony Blinken made it clear that Ukraine's path to NATO membership is firmly supported by the alliance's members. During the gathering, Blinken, along with Ukrainian Foreign Minister Dmytro Kuleba, discussed the critical support Ukraine needs as it continues to face aggression from Russia. The anticipation of Ukraine joining NATO is seen as a significant factor behind Russia's military actions. In response, NATO is exploring increased military aid for Ukraine, with Secretary-General Jens Stoltenberg pushing for commitments that extend into the future. However, even with strong verbal support, the actual delivery of the promised assistance to Ukraine has encountered delays and political hurdles across Europe and the U.S.

Why this matters: Russia has consistently cited NATO's expansion toward its borders as a significant security threat, prompting it to adopt more aggressive foreign policies in neighboring countries, notably in Georgia in 2008 and Ukraine in 2014. Ukraine's potential NATO membership could be seen by Russia as a major escalation in what it perceives as a NATO effort to further solidify their involvement in the conflict.

The important part: If Russia attacks Ukraine after it joins NATO, it would likely trigger Article 5 of the North Atlantic Treaty—NATO's collective defense clause. This means an attack on Ukraine would be considered an attack on all NATO members, obliging each to respond, including potentially with military force. This scenario could dramatically escalate the conflict, potentially drawing NATO into a direct confrontation with Russia. The decision to invoke Article 5 requires a consensus among NATO members and could lead to a range of responses, from diplomatic efforts to military intervention.

Extra Stories

Oil Prices Surge Past $90 as Middle East Tensions Escalate and OPEC+ Maintains Supply Cuts

Oil prices have climbed higher, with Brent crude topping $90 a barrel, spurred by increasing tensions in the Middle East. This uptick comes in the wake of an Israeli attack on an Iranian facility in Syria, sparking worries about the possibility of an expanded regional conflict. Such concerns are significant as the region supplies about a third of the world's oil. In the meantime, attempts to broker a cease-fire between Israel and Hamas haven't made much headway, adding to the uncertainty.

Adding fuel to the fire, OPEC+—a coalition of the Organization of the Petroleum Exporting Countries and other major oil producers like Russia—has decided to keep its supply cuts intact. This decision aims to control oil output and has been a key factor behind the rising prices. With these cuts remaining through the first half of the year, the oil market is expected to stay tight, supporting the trend of increasing prices. As a result, Brent crude has pushed past $91, hitting a peak not seen since last October, while West Texas Intermediate is trading around $87.

One Year In, LA's Mansion Tax Falls Short

Los Angeles introduced a "mansion tax" — a tax of 4% on properties sold for $5 million or more and 5.5% on those above $10 million — with expectations of generating between $600 million to $1.1 billion annually to address housing and homelessness issues. However, a year after its implementation, the tax has only raised $215 million, significantly below projections.

This shortfall suggests the tax may not be as effective as hoped in tapping into the wealth generated by high-value real estate transactions for public benefits. The discrepancy between projected and actual revenue raises questions about the reliability of initial estimates and the tax's impact on the real estate market's dynamics. It highlights the challenges of relying on transaction-based taxes in fluctuating markets and underscores the need for a nuanced approach to addressing housing affordability and homelessness, considering both market realities and the intended social goals.

In surprising stance, the Daily Show and Charlamagne Tha God break down DEI

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