The Pour Over Today - Wall Street Sell-Offs; Russia-Ukraine Ceasefire; Avoiding a Government Shutdown & More I 3.12.25

Starting point is 00:00:00 Today we're talking about sell-offs on Wall Street, a Russia-Ukraine ceasefire, Congress avoiding a government shutdown, and other top news for Wednesday, March 12th. Stay informed while remaining focused on Christ with the pour-over today. Here's the quote of the day, God send me anywhere, only go with me, lay any burden on me, only sustain me, and sever any tie in my heart except the tie that binds my heart to yours. David Livingstone. Let's get started with some espresso shots.

Starting point is 00:00:37 Wall Street has had a rough week. In an interview on Sunday, President Trump didn't rule out a recession, instead predicted a period of transition as his policies take effect. Commerce Secretary Ludnick pushed back, insisting Americans should absolutely not brace for a recession and framing tariffs as part of a broader economic strategy that will bring American prosperity. Investors were still spooked.

Starting point is 00:01:02 Monday was the Nasdaq's worst day since 2022. The stock sell-off continued yesterday amid more trade uncertainty. Ontario's Premier, the leader of Canada's most populous province, implemented, then paused, a 25% electricity surcharge on 1.5 million US homes and businesses in retaliation for US.S. tariffs. President Trump re-retaliated by threatening, then unthreatening, to double tariffs on Canadian steel and aluminum from 25% to 50%. The Dow closed down 1.1%.

Starting point is 00:01:43 Here's a verse to consider whether the broader economy is struggling or thriving. Don't neglect to do what is good and to share, for God is pleased with such sacrifices. Hebrews 13, 16. Ukraine is ready to accept a U.S.-proposed 30-day ceasefire with Russia. US Secretary of State Marco Rubio said the offer for a complete ceasefire to stop the shooting and start talking is now in Russia's court. The Trump administration simultaneously announced it had resumed sharing military aid and intelligence with Ukraine.

Starting point is 00:02:23 For now, the battle rages on. Before dawn on Tuesday, Ukraine launched its largest long-range drone bombardment of the war, killing three and injuring at least 18 others near Moscow. Meanwhile, Russian forces are retaking ground in Kursk, the region invaded by Ukraine in August. Back on the home front, Rubio announced an audit of USAID, the agency responsible for distributing billions in foreign aid, is complete, leaving 83% of programs cut and the rest under State Department oversight.

Starting point is 00:03:02 War is a heavy burden that impresses upon us our world's need for restoration. Jesus came to bear that burden of sin, lighten our load, and restore our world. Pray that Eastern Europe would experience that restoration and glorify Jesus. Matthew 11, 28-30 says, Come to me, all of you who are weary and burdened, and I will give you rest. Take my yoke upon you and learn from me, because I am lowly and humble in heart, and you will find rest from your souls, for my yoke is easy and my burden is light. Congress is working to avoid a government shutdown again.

Starting point is 00:03:46 Saturday, House Republicans proposed a bill to fund Washington for the next six months, including a less than expected bump in funding for defense and veterans' health care, new funds for immigration enforcement, and budget cuts for just about everything else. The continuing resolution, a temporary spending solution, has gained support from some Republicans who typically vote against temporary funding. Meanwhile, Democrats have expressed opposition to the six-month barebones bill, arguing that it creates less security for federal programs that have already experienced recent cuts. Yesterday, the bill passed the House in a narrow 216 to 214 vote.

Starting point is 00:04:26 Now it's up to the Senate to keep the Hill's lights on. They have until 1159 p.m. Friday to pass the bill, which needs at least 60 yeses. It's easy to throw stones at Congress, but how are the budget conversations at your own house? In all of your discussions, demonstrate faith and contentment in Christ through patience and compromises that outdo one another in showing honor and love. Romans 12.10 says, Love one another deeply as brothers and sisters. Take the lead in honoring one another. Imagine a power snack bar that offers lots of protein, ingredients that are good for

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Starting point is 00:05:45 others, and fuel your body and brain, Mosh Bars are the perfect choice for you. Head to moshlife.com slash TPO to save 20% off plus free shipping on the Best Sellers Trial Pack. That's 20% off plus free shipping on the Best Sellers Trial Pack at moshlife.com slash TPO. Thank you Mosh for sponsoring this episode. In other brews, here's a rapid round of updates. A former Facebook executive is blowing the whistle on Meta's attempts to scale China's Great Firewall, alleging that Meta developed attempts to scale China's great firewall, alleging

Starting point is 00:06:25 that Meta developed a content censorship tool and offered to share user data with the Chinese government in exchange for access to its billion-plus user market. Meta denied the claims, saying it's no secret we were once interested in the Chinese market, but decided against it. A Portuguese container ship collided with a U.S. flagged oil tanker anchored off England's eastern coast Monday, igniting fires and forcing both crews to abandon ship. Of 36 crew members, one remains unaccounted for after search and rescue efforts were unsuccessful. Yesterday, a 59-year-old man was arrested on suspicion of gross negligence manned slaughter

Starting point is 00:07:09 in connection with the collision. U.S. fighter jets were scrambled to investigate a civilian aircraft violating airspace restrictions over Mar-a-Lago, the 20th violation this year. Officials said the jets fired attention getting flares and urged pilots to check flight restrictions. Meanwhile Sunday, Secret Service shot and critically injured an armed man near the White House. President Trump was in Florida at the time. Elon Musk's companies are on the other side of the Trump bump.

Starting point is 00:07:48 Tesla shares plunged another 15 percent Monday, with sales decelerating amid customer protests of doged cuts. President Trump said he'd buy a Tesla in solidarity. Monday also saw ex-outages, which Musk attributed to a massive cyberattack by a coordinated group and or country. Southwest is taking a turn northeast. Baggage fees are cleared for takeoff.

Starting point is 00:08:15 The airline is abandoning its decades-long brag that bags fly free. Starting May 28, only top-tier loyalty members members, business class flyers, and Southwest credit card holders will dodge the fee. This checked change comes on the tail of the airline also grounding its no-assigned seats policy. And that's all we have for today. Thanks so much for listening. If you're listening on the Apple Podcast app, give us a 5-star rating and drop a review.

Starting point is 00:08:44 If you're listening on Spotify, give us a follow and hit the notification bell to never miss a new episode. We appreciate your support and hope you have a great day. We'll see you on Friday.

The Pour Over Today - Wall Street Sell-Offs; Russia-Ukraine Ceasefire; Avoiding a Government Shutdown & More I 3.12.25

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