3,000 North Korean Troops Sent to Russia Amid Ukraine War

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+ GetSmart: 🥃 President George Washington was a whiskey tycoon

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Newsbites

• Trump on Joe Rogan Podcast: Donald Trump is set to go on the Joe Rogan Experience podcast today (Friday October 25). The Rogan Experience has been the largest most far-reaching podcast in the world for several years now. Rogan has only interviewed a handful of politicians including Bernie Sanders, Tulsi Gabbard, and Robert F. Kennedy Jr. He has been reluctant in the past to interview political candidates such as Donald Trump, Joe Biden and Hillary Clinton during election season. The interview, which could be anywhere from 1-4 hours, is expected to get a lot of attention in the coming week. Speculation is afloat that Kamala Harris may also join Rogan in coming weeks.

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• US House Sales lowest since 1995: In September, sales of existing U.S. homes dropped to their slowest annual pace in nearly 14 years as potential buyers are slow moving due to high prices and high interest rates. House sales fell 1% from August to an annual rate of 3.84 million, marking the lowest rate since October 2010. At this pace, the U.S. housing market is set to be the worst since 1995. 

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• Trump works at McDonalds: Former President Trump stopped at a McDonalds in Feasterville-Trevose, Pennsylvania, to work the fries station and serve “customers” at the drive through window. “I’ve now worked for 15 minutes more than Kamala at McDonald’s,” Trump told the press after being taught how to fry and package the fries. Trump has claimed Harris, who has said she worked at McDonalds in college, lied about her resume. McDonalds has since released a statement saying, “we are not red or blue -- we are golden.” The statement also said they do not have all the records of who has worked at the chain dating back to the 80’s (when Harris claims to have worked there).

  
  More: See full video of Trump at the McDonalds

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• Kamala Harris media tour: The Harris campaign is doing a round of media interviews as her poll numbers continue to slide in the final weeks of the election. She sat-down with NBC News’ Hallie Jackson and held a townhall on CNN with Anderson Cooper in an effort to flesh out her policy vision. During the townhall, Harris called Trump a “fascist” and said he is “unstable”.

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• Elon Musk's super PAC(America PAC), has been conducting a daily $1 million giveaway to registered voters in swing states who sign a petition supporting the First and Second Amendments. The Department of Justice has warned that the lottery might violate federal regulations prohibiting incentives for voter registration. The PAC announced two winners on Thursday, one from Wisconsin and another from Michigan. Musk, who has endorsed Trump, defends the initiative, stating that participants don't need to be from any particular party or even vote. 

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3,000 North Korean Troops Sent to Russia Amid Ukraine War

“If Russia is indeed forced to turn to North Korea for manpower, this would be a sign of weakness, not strength, on the part of the Kremlin.” - National Security Communications Adviser John Kirby

North Korean troops sent to Russia
According to South Korean National Intelligence Service and confirmed by the U.S., roughly 3,000 North Korean troops traveled to Russia via ship in mid-October to be trained for fighting against Ukraine. They are currently stationed at three different military bases in eastern Russia. Ukrainian President Zelensky along with other lawmakers in South Korea have confirmed that NK plans to send a total of 10,000 troops by the end of December, 2024.

President Putin did not deny the reports. When asked about a satellite image showing NK troops in Russia, he responded, “Images are a serious thing. If there are images, then they reflect something.”

North Korea relocating families
Lee Seong-kweun, a lawmaker on the South Korean intelligence committee, told reporters that NK has been trying its best to squash the rumors of the troops being sent to Russia. 

"There are also signs of North Korean authorities relocating and isolating those families (of the troops) in a certain place in order to effectively control them and thoroughly crack down on the rumors."

He also added that Russia has been hiring North Korean interpreters to help with the speed and effectiveness of the training. He said, "Russian instructors are assessing that the North Korean military has excellent physical attributes and morale but lacks understanding of modern warfare such as drone attacks." 

U.S. officials confirm the reports, warn of increased conflict
Below are some insightful quotations from National Security Communications Adviser John Kirby on the situation happening.

"We assess that between early to mid-October, North Korea moved at least 3,000 soldiers into eastern Russia. We assessed that these soldiers traveled by ship from the Wonsan area in North Korea to Vladivostok, Russia," 

"These soldiers then traveled onward to multiple Russian military training sites in eastern Russia, where they are currently undergoing training. We do not yet know whether these soldiers will enter into combat alongside the Russian military, but this is certainly a highly concerning probability.”

"After completing training, these soldiers could travel to western Russia and then engage in combat against the Ukrainian military.”

“We have briefed the Ukrainian government on our understanding of this situation and we're certainly consulting closely with other allies, partners and countries in the region on the implications of such a dramatic move and on how we might respond."

"if North Korean soldiers do enter into combat, this development would demonstrate Russia's growing desperation in its war against Ukraine.”

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Trends: Americans’ Saving Habits Are on Downward Trend

What’s happening?
Americans are saving less of their personal income than in the past. Outside of the pandemic period which was on outlier due to stimulus checks, the personal savings rate has been on a downward trajectory since the 1980s, as seen in the chart below.

Personal savings are defined as an individual’s Income minus Personal Expenses and Taxes. It is the amount of money available to put in a savings account or invest in the stock market or real estate. As of June 2024, the individual savings rate was 3.4%.

In the early 1980s, the savings rate hovered between 12-13%. By the mid 1990s, the savings rate was about 6%. In the mid 2000s up until the Great Recession, it was 2.5-3%. Leading up to the pandemic in 2020, it was around 6%. Thus far in 2024, it was lowered to 3.5-4%.

What are the reasons for the lower savings rate?
From a definitional perspective, a lower savings rate is caused by two scenarios (or a combination of both): 

Scenario #1: Americans are actually consuming more goods and services and saving less compared to previous generations. For example, in 1980 an individual had $100 of income and spent $90 to eat out twice per week and saved $10 (10% savings rate).In 2024 an individual has $100 of income and spends $97 to dine out twice per week, along with buying a new pair of shoes and only saves $3 (3% savings rate).

Scenario #2: Incomes are not growing as fast as the cost of goods and services, which means people today are consuming an equal or lower quantity of goods and services than past generations but have left money “left over” to save.

For example, in 1980 an individual had $100 of income and spent $90 to dine out twice per week and saved $10 (10% savings rate). In 2024 an individual has $100 of income and spends $97 to dine out twice per week and only saves $3 (3% savings rate).

It’s likely the lower savings rate is a combination of both scenarios: Consumers are buying more goods and services using debt (student loans, credit cards, car loans, etc.). Incomes have not grown as fast as the costs of some goods, such as housing.

For example, in the early 1980s, the median home price was about 3 - 3.5x the median household income. Today, the median home price is ~5-5.5x the median household income.

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🥃 President George Washington Was a Whiskey Tycoon in His Later Years