July 21, 2022

Meet the partners in wine: A couple charged with fine wine theft were arrested in Croatia after 9 months of police chasing them across Europe. They allegedly stole $1.7M worth of vino from the cellar of a Spanish restaurant. Hope this makes you feel better about putting Coke in your Chipotle water cup. 

In today's edition:

• Gas rations in Europe
• Cost of a family trip to the ballpark
• Frost tries coca leaves

 Key Stories

EU Moves to Ration Gas

The EU proposed a plan for member states to ration gas usage ahead of a “likely” Russian gas cut-off

• In recent weeks, Russia — which provides 40% of EU gas — has slowed gas deliveries to Europe, citing sanctions difficulties and pipeline maintenance
• The EU has accused Russia of blackmail. The bloc said that a total gas cut-off is a “likely scenario”
• The proposal asks members to cut gas consumption by 15% from August until March in order to increase emergency reserves. If passed, the EU will be able to mandate that its members reduce gas consumption. The proposal may not have enough support to pass

• Turning the proposal into law will require a supermajority of EU countries to approve it. Some – including Spain, Portugal, Poland, and Hungary – have already said they oppose it, either because they aren't concerned about a gas cut-off, they have enough gas saved, or concerns about economic costs

Biden Uses Executive Powers for Climate

President Biden announced that he will use executive powers to advance new climate policies

• Last week, Congress did not pass Biden’s climate agenda. The president now says he will use executive powers, which bypass Congress, to increase funding for disaster preparedness, home air conditioning, wind farms, and more
• Biden called climate change an “emergency” but stopped short of a formal emergency declaration, which would have allowed him to greatly increase funding for climate policy. The move comes as 100M+ Americans are under heat warnings

• Last week, President Biden's ambitious climate agenda failed in Congress due to a lack of support from Senator Joe Manchin, a Democrat from West Virginia. Manchin represents a state that mines 12.6% of the US' coal

Study Questions Depression Beliefs

A new UK/EU study found “no convincing evidence” that depression is caused by low levels of serotonin

• Serotonin regulates levels of joy and happiness, as well as mood. Typical antidepressants (SSRIs) treat depression by increasing serotonin levels. In 2017, 12.7% of Americans aged 12+ used such drugs
• Per the study, which reviewed 17 previous studies, there is “no evidence of a connection between reduced serotonin levels or activity and depression.” It also said there is an “epidemic” of SSRI overuse
• The study found a high correlation between depression and stressful life events

House Passes Gay Marriage Bill

The US House of Representatives passed a bill protecting gay marriage and interracial marriages

• The bill, which passed with a 267-157 bipartisan vote, would enshrine the marriage rights into law. Both are currently protected by Supreme Court rulings, but absent from US law
• The bill follows the Roe decision, after which one Supreme Court justice suggested other prior rulings, including the one protecting gay marriage, should be reconsidered
• The bill now moves to the Senate, where it is unclear if it will receive the 60 votes needed to pass

• In response to the Roe ruling, Justice Clarence Thomas released a concurring opinion stating that the court "should reconsider all of this court's substantive due process precedents, including Griswold, Lawrence, and Obergefell" - the cases that confer a right to same-sex marriage, same-sex relations, and unregulated access to contraception

Trouble Brewing for Housing Market?

The median US house price reached a record of $416k in June, although decreasing home sales indicate that a housing market recession may loom

• June’s prices marked a 13.4% increase from 2021 and the highest since such data was first collected in 1999. But at the same time, home sales and mortgage demand fell 5.4% from May, signaling that housing demand is falling
• Analysts suggest that recession fears and increased mortgage rates are decreasing demand for houses, while high prices are barring people from buying
• The housing market has been growing since 2011

• Hello, dollars, my old friend: Tesla dumped 75% of its bitcoin holdings this quarter after buying $1.5B of it last year
• Anchors anonymous: CNN is reportedly trying to poach MSNBC Morning Joe hosts Joe Scarborough and Mika Brzezinski for a new show
• Take me out to the ATM: An average trip to an MLB ballpark for a family of 4 now costs $205. The Boston Red Sox lead the pack at $324

 What do you think?

See yesterday's results below the Wrap!

 Roca Wrap

Disclosure: The videos convey these car rides better than writing. I'm posting them on my Instagram page here. 
  
When I woke up on my third day in Peru, I was in a rush. I was a full day behind my itinerary, having spent an extra day in the small city of Cajamarca with a local family. They fed me a bowl of bright green herb and egg soup for breakfast, then took me to find a ride into the mountains. 

Peru has 3 main kinds of public road transportation: Buses; “combis” – vans that run between 2 destinations and pick people up along the way; and “collectivos” – shared taxis that run between 2 destinations and leave when full. 

The family took me to a street where men were loitering around their cars. They swarmed me asking where I was going. I said the name of the town, Celendín, and one man dragged me to his beat-up sedan – a collectivo – and tossed my backpack into the trunk. The rate was $8 for a 2-hour ride. I climbed in shotgun; a family of 5 was jammed in the back.

We set off, and for the next 2 hours sped through the mountains at twice the speed limit. I could hear the wheels drifting over the pavement when we turned and the brakes squeaking around the hairpins. The views were gorgeous – we drove along mountainsides and across plateaus – but it was nerve-racking. 

We pulled into the bus station of a dusty town around 12:30 PM, my target destination still 6+ hours away. The bus station attendant told me a combi was headed there at 4 PM. She put my bag behind the counter and told me to come back in 3 hours. 

I headed to the local market – where I saw a full pig get dismembered – then grabbed some lunch. During my walk I noticed many stores selling green leaves by the bag: Coca. 

Coca is a common stimulant and medicine in the mountains of Peru. People use it for altitude sickness, headaches, and energy; they chew on it or make tea. A man buying a bag told me that “it’s good for work. It makes you strong.”

Cocaine is made by drying coca leaves, and extracting and processing certain chemicals within them. Peru is the world’s largest coca-leaf producing country and the world’s second-largest producer (after Colombia) of cocaine.

A middle-aged woman shopkeeper handed me some coca leaves and explained to me what to do. I couldn’t understand her Spanish, so I just chewed on and swallowed the leaves. Later I learned that you’re supposed to chew the leaves and let them sit in the side of your mouth. 

When I did that, its effects were similar to coffee. I felt alert, wasn’t hungry, and had to use the bathroom. It also made my mouth go numb. 

I wandered around the town and dropped into a shop where 4 men about my age were drinking. They offered me a sip of their communal beer bottle and asked where I was from. When I said the US, they asked who the president was. After a beer together, one guy – a local cop – gave me his number, insisted I come back to visit, and made me promise to send him my videos.

Back at the bus station, my backpack was bungee-corded to the roof of a 15-seat van. The combi left at 4:30 PM and immediately began climbing into the mountains. The next 6 hours were the craziest ride of my life. 

From around 9,000 feet, we climbed to 15,000 feet, where we drove along a narrow road on a cliff’s edge leading to a near-vertical drop into a valley thousands of feet below. An equally tall mountain was on the other side of the valley. The mountains were total desert; a forest was in the valley below. 

It took an hour and a half to descend the first mountain, at the bottom of which was an oasis with a sign marking the altitude: 800 meters, which meant we had descended 12,000+ feet. We stopped in the valley, and local women approached the car selling mangos from nearby trees. A fellow passenger bought and gave me one. The van’s 6 passengers and the 3 fruit vendors were the only people around. We sat there quietly eating the fruit on a bridge while a river rushed below.

As the sun set, we began the 12,000-foot climb up the next mountain, the road again snaking along the cliff. The mountain was so high and steep it seemed impossible that the road could go over, but it did. 

It was dark when we reached the mountaintop, and we stopped at a hut there for dinner. It was cold and silent; the only sounds were women grilling meats nearby. The stars were incredible. Directly above was the Southern Cross, which looked close enough to touch. It was 8 PM on a Friday, and we couldn't have felt more removed from the world. 

We continued to drive through the mountains. By the time we reached our destination, a mountain town called Chachapoyas, at 11 PM, I was carsick. I couldn’t find a taxi, so I walked through the dark streets to a $16-per-night hotel I found online. I passed out as soon as my head hit the pillow. 

 Roca Clubhouse

Yesterday's Poll:

Yesterday's Question:

 Final Thoughts

Spread the Wave!