WORD ON THE STREET 

Zelenskyy Predicts Famine, Agreement on Guns, Housing Sector Slows

• “Dogs And Cats Living Together, Mass Hysteria” – Attempting to rally international support for his country at a summit in Singapore, Ukrainian President Volodymyr Zelenskyy said the world will face “an acute food crisis and famine.” He blamed, not surprisingly, Russia, whom he accused of having blocked the Black Sea. “Prices are rising,” he said. “Russia is violating international law.”

• No Assault Weapons Ban – There’s bipartisan agreement on gun control, though probably not as much as progressives would want. Republican senators John Cornyn (TX), Mitt Romney (UT), Roy Blunt (MO) and others gave their support to a package that will expand background checks and provide more money for mental health treatment. However, there will be no “assault weapons” ban. President Joe Biden is still calling for more controls.

• IRS Cuts Us A Break – Well, I never thought I’d say this – thanks Internal Revenue Service! Starting in July, the optional standard mileage rate deduction is increasing to 62.5 cents per mile from 58.5 cents per mile. It should help businesses and the self-employed – but it might not be enough to overcome rising gas prices. The national average is now firmly above $5.00 a gallon.

• Freddie Mac Warns Of Housing Slowdown – “The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006,” tweeted deputy chief economist Len Kiefer. However, that doesn’t mean housing prices are going to come down anytime soon. The National Association of Realtors reported that housing affordability posted the steepest annual decline on record last year – almost 30%.

HOT SPOTS: What’s Going on in Geopolitics

• Venezuela And Iran Sign 20 Year Agreement – Two countries that the United States has tried to squeeze through sanctions are teaming up. Venezuelan leader Nicolas Maduro signed a 20 year cooperation agreement with the Islamic Republic of Iran after he hailed the delivery of Iranian oil as a “great help to the Venezuelan people.” The agreement is clearly targeted against the United States, as the two countries said in a statement they would constantly confer “about the war of sanctions and find ways to counter them with steadfastness.”

• Democrats Booting Biden? – It’s still a long way to just the midterm elections, but some Democrats are reportedly nervous about the prospect of President Joe Biden running for re-election. Former Barack Obama chief strategist David Axelrod suggested that the president is simply too old. Vice President Kamala Harris is testing the waters, holding a fundraiser in South Carolina.

• “Tasty And That’s It” – That’s the translation of “Vkusno & Tochka,” the new company that has taken over McDonald’s in Russia. Fifteen branches of the new company have been started, with Oleg Paroev taking over. He has vowed not just to bring back all 850 former locations, but expand. The business saw brisk sales on its opening day, which coincided with the patriotic holiday “Russia Day.”

CUTTING EDGE: What‘s Happening In Tech

• We Must Not Allow A Missile Gap! – Back to the Cold War everyone. For the first time in decades, the number of nuclear weapons in the world is poised to rise. “All of the nuclear-armed states are increasing or upgrading their arsenals and most are sharpening nuclear rhetoric and the role nuclear weapons play in their military strategies,” said Wilfred Wan of the Stockholm International Peace Research Institute. The country with the world’s largest arsenal is Russia. President Vladimir Putin has communicated his willingness to use nukes if he thinks his country is threatened, telling the West there will be consequences “such as you have never seen in your entire history.”

• Astra Launch Failed Yesterday – A black eye for a struggling company, as Astra’s rocket failed to deliver NASA satellites intended to monitor tropical storms. The company has failed in two out of three launches this year. “We have shared our regrets with NASA and the payload team,” tweeted the company. I’m pretty sure NASA already knew about it.

• Crypto Apocalypse – Cryptocurrency is reeling, with BTC threatening to fall below $25,000 and ETH falling to below $1,400. The crypto lending firm “Celsius” has actually paused withdrawals and transfers. The reason? “Extreme market conditions.” Not what you want to hear.